Chemical | 30 July 2020
Mitsubishi Chemical to acquire European carbon fiber recycling companies
The acquisition is slated for completion around early August.
The acquisition is slated for completion around early August.
The new business will produce a range of hospital grade hand gels, sanitiser sprays for hands and surfaces and sanitiser wipes, for retail sale, available for the home and to the public.
Acetyl and materials segment impacted the most during the quarter.
Adjusted earnings per share were $1.90, 4% above prior year, or 8% higher when excluding negative currency translation effects.
The partnership includes the supply of refinish products and color-matching solutions.
The collaboration with D&R Dispersions and Resins offers strategic manufacturing capabilities in Eastern Europe to meet the resin production needs for specialty applications.
The plant is expected to be completely operational by 2024 and is expected to help SABIC reach it's 2025 clean energy target.
The collaboration will jointly address technologies to propagate use of biofuels in variety of applications including usage in internal combustion engines (ICE) in the transportation sector.
Net income rose to Rs 3,246 crore in April-June quarter from Rs 2,800.28 crore in the same period a year ago.
Sales decline 14.55% to Rs 214.95 crore
Sales stood at EUR10.27 billion in the first half of the year, from EUR10.95 billion in the same period last year.
The company had announced capital expenditure of Rs. 436 crore for the project.
Company anticipates approximately $195 million of cost savings from the restructuring actions in 2020.
On a year-over-year (Y/Y) basis, the barometer fell 8.9 percent in July, ACC said
This initiative aims to reduce the amount of plastic waste entering the environment in the northern Indian cities of Haridwar and Rishikesh.
Volumes stood at 99.0 percent of their average 2012 levels in June.
Appointment is effective from 28 July 2020.
The total financial outlay of the scheme is Rs. 6,940 crore.
The company sales also declined 27.58% to Rs 51.50 crore in Q1 FY21 as against Rs 71.11 crore last year.
The company posted a net profit of Rs 19.19 crore in Q1 FY21.
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