LyondellBasell today announced its intention to seek a buyer for the 105,000 barrels-per-day refinery at Berre, France operated by its subsidiary, Compagnie Petrochimique de Berre S.A.S (CPB). An investment banking firm will be retained to assist wit
Insecticides (India), one of the fastest growing companies in agrochemicals Industry, posted a 20% rise in revenues and a 14% jump in the net profit for the FY 2010-11, over the previous year. While the company saw its net profit touching Rs. 32.21
Ashland Inc. and International Specialty Products Inc. (ISP) today announced that Ashland has agreed to acquire privately owned ISP, a global specialty chemical manufacturer of innovative functional ingredients and technologies. Under the terms of th
Indian Oil Corporation Ltd. (IndianOil) has reported an excellent performance for the year 2010-11. Riding on a robust performance driven by the highest ever sales of petroleum products and high capacity utilization of refineries and pipelines, the C
BASF SE and INEOS Industries Holdings Limited have made an important step towards the establishment of the joint venture company Styrolution. On May 27, 2011 the companies signed a joint venture contract, which regulates the formation of the joint ve
CRISIL's ratings on the bank facilities of Pondy Oxides & Chemicals Ltd (POCL, part of the Bansal group) continue to reflect the Bansal group's established market position in the metallic oxides industry, its strong operational capabilities, and
Brian Davis took up the role of Shell Vice President (VP) for Global Base Chemicals on May 1, 2011. He succeeds Graham van't Hoff who has been appointed Chairman for Shell in the UK. Prior to this appointment Brian was Vice President Downstream Str
BASF will build the world's largest single-train TDI (toluene diisocyanate) plant in Europe. The plant will have a capacity of 300,000 metric tons per year and will be fully integrated with precursor production. The TDI plant will be located at one
Gujarat Alkalies and Chemicals Limited (GACL) has reported a net profit of Rs 114.31 crore in FY11 against that of Rs 111.84 crore in FY10. The company achieved Net External Sales (excluding Excise Duty) of Rs 1,423.17 crore for the year ended 31st
CRISIL's ratings on Gujarat Fluorochemicals Ltd's (GFL's) bank loan facilities and commercial paper programme continue to reflect GFL's integrated operations and diversified product profile, strong liquidity, and comfortable financial risk pr
CRISIL has assigned its "˜BB/Stable/P4+' ratings to the bank facilities of Polygon Chemicals Pvt Ltd (PCPL).The ratings reflect PCPL's susceptibility to volatility in raw material prices and intense industry competition. These rating weaknesses
ICRA has assigned a short-term rating of A1+ to the Rs 2585 crore non fund based limits (enhanced from Rs 2185 crore) of Zuari Industries Limited (ZIL). ICRA has also reaffirmed the LA+ (Stable) rating assigned to the Rs 600 crore long term fund ba
GAIL (India) Limited has recorded sustained performance in key physical as well as financial parameters in the Financial Year 2010-11. According to the audited figures, Turnover (net of excise duty) in the year 2010-11 increased by 30 per cent to Rs.
Tata Chemicals has posted 14 per cent rise in its consolidated net profit to Rs 146 crore for the quarter ended March 31, 2011. The net sales rose by 16 per cent to Rs 2,568 crore in the fourth quarter of 2010-11. Tata Chemicals\' net profit for the
Chemtura Corporation has signed a Letter of Intent(LoI) with Archean Group, headquartered in Chennai, India, to establish a strategic alliance in bromine and brominated derivatives. This alliance will build upon Archean's marine chemical facility,
YASH Technologies, a leading enterprise business and technology partner for global companies, today announced that accelerated solution for the "˜Specialty Chemicals' Industry ChemOne - SAP Business All-in-One (SAP BAiO) solutions have received qu
Georgia-Pacific Chemicals will expand capabilities at its Lufkin, Texas, facility to increase production of resins used to coat proppants for oil and gas extraction.
Prime Minister Dr. Manmohan Singh recently dedicated Bina Refinery to the nation at a ceremony held at Bina, Madhya Pradesh. The refinery has a capacity of 6 Million Metric Tonnes Per Annum (MMTPA) and is equipped with state-of-the-art technology to
With immediate effect or as contracts allow, BASF is increasing the sales prices for carbonyl chloride derivatives (CCDs) in Europe by 10 to 20 percent depending on the specific product. The price increase is necessary due to the increased production
BASF will invest in a dispersions plant in Durban, South Africa. The new plant will produce acrylic dispersions mainly for the coatings and construction industry. The facility will benefit from local availability of raw materials and proximity to key
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