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After more than eleven years in office, the CEO of Continental AG Dr. Elmar Degenhart has informed the Supervisory Board about his intention to resign from his position effective 30 November 2020 for reasons of immediately essential preventive health care. He has asked the Supervisory Board to accept the early termination of his Executive Board directorship and his contract, which would have run until 11 August 2024. Supervisory Board Chairman Prof. Wolfgang Reitzle has announced that he will convene the Supervisory Board shortly to decide on the appointment of the successor to Degenhart.

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Nouryon has launched a new version of its Expancel expandable microspheres targeted at speciality thin coatings applications. Expandable microspheres work as a filler and blowing agent to make products lighter and reduce overall costs.

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On 10 November 2020, Momentive Performance Materials Inc. announced it will invest USD 13 million for the expansion of its existing Termoli, Italy, plant to create a state-of-the-art manufacturing hub for its Niax polyurethane additives. The site, which currently produces high performance additives for rigid foam applications among other silicone-based products, will undergo a comprehensive technology upgrade to expand services to the EU slabstock foam industry.

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On 10 November 2020, Recticel announced that it has entered into final agreements with Swiss Conzzeta AG to acquire 100 % of FoamPartner in cash for an enterprise value of CHF 270 million, CHF 20 million of the price being payable in January 2022. Recticel said this represents an 8.6x average 2019A-2020F normalised EBITDA multiple. The transaction is subject to customary conditions precedent including antitrust approvals.

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Very few policy initiatives in the last few years have received as much public attention as the recently adopted Single-Use Plastics Directive – also known as the single-use plastics ban. This legal act, however, is only one piece of the puzzle with which the European Union is attempting to curb plastic littering and transform the European economy into a circular one. The following article gives an overview on the EU Circular Economy Package and Plastics Strategy and explains what they mean for bio-based plastics.

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HF Mixing Group announced that it is aligning its top management structure. As of 1 October 2020, Mark Meulbroek will be supported by Ian Wilson as Co-CEO focussing on external strategic aspects. In his new role, Wilson will concentrate on the areas of Sales, Aftersales, R+D and Engineering.

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The first digital in-house exhibition called Xpert Forum of Klöckner Desma Elastomertechnik GmbH in Fridingen, Germany, took place from 6 – 30 October 2020. For more than 25 years the company has been organising a two-day open house event every three years, which has established itself internationally as a meeting point for the industry.

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On 28 October 2020, Huntsman Corporation announced that it has entered into a definitive agreement to sell its India based Do-It-Yourself (DIY) consumer adhesives business, part of the Advanced Materials division, to Pidilite Industries Ltd. in an all-cash transaction valued at up to USD 285 million, excluding customary working capital and other adjustments.

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Stepan Company is ranked 45 in The Wall Street Journal’s most sustainably managed companies in the world — third among chemical manufacturers in the rankings. The assessment includes more than 5,500 publicly traded businesses that were evaluated on an array of sustainability criteria including business model and innovation, external social and product issues, employee and workplace issues, and the environment. The ranking methodology also considered Stepan’s leadership and governance practices, and how those create long-term shareholder value.

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JEC Group has postponed the next edition of JEC World to 1 – 3 June 2021 at Paris Nord Villepinte. (Source: JEC Group)

On 3 November 2020, JEC Group announced that due to the continued impact of the Covid-19 pandemic and after thorough consultation of clients and partners, the next edition of JEC World is postponed from 9 – 11 March to 1 – 3 June 2021 at Paris Nord Villepinte.

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