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Evonik Industries AG announced today, that it has completed the activities to acquire the specialty additives business (Performance Materials Division) of Air Products, Inc. for USD 3.8 billion (approximately EUR 3.5 billion) by the end of 2016 as planned. Evonik says that the closing is scheduled for 3 January 2017. All relevant antitrust authorities have approved the transaction and the integration of the acquired business is underway. The transaction financing was completed successfully in September and will consist of the company’s own funds in the amount EUR 1.6 billion, with the other half to be financed by bonds with a nominal value of EUR 1.9 billion.

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According to a new market report from Markets and Markets, the global HVAC insulation market size is estimated to grow from USD 3.30 billion in 2015 to USD 5.29 billion by 2021, at a CAGR of 8.20 %. It is driven by the rising construction industry and increasing demand for HVAC systems. Moreover, the implementation of stringent regulations and building codes for minimising the energy consumption is fuelling the demand for HVAC insulations.

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KraussMaffei announced that it has a new agency in Iran and thus wants to further strengthen its market position in injection moulding and reaction process machinery in this region. KaranSimaFam, a family-run company in the Iranian plastics industry with over 50 years of experience, represents KraussMaffei with the new company Krasifam (KSF).

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Effective 11 January 2017 or as contracts allow, BASF increases the prices of light stabilizers Tinuvin 770, Tinuvin 765 and Tinuvin 791 by 15 – 20 %.

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The German Federal Ministry for Education and Research (BMBF) is sponsoring with around EUR 1.5 million a joint research project of BASF SE, Heidelberg University, LMU Munich and hte GmbH.

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Zeiss Industrial Metrology has opened a new facility in Wixom, MI, USA, dedicated to the latest developments for the process chain in car body metrology and automated inspection.

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RPM International Inc. announced that it has acquired the foam division of Clayton Corporation, known for its consumer polyurethane foam brand Touch 'N Foam. Based near St. Louis, MO, USA, the foam division of Clayton Corporation has annual net sales of approximately USD 60 million. Terms of the transaction were not disclosed.

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The new, fourth edition of AMI’s study Steel pipe coating – the global market is the outcome of several months of intensive market research and analysis, focused on the pipe coating industry and its associated supply chain – from manufacturers of equipment and raw materials to pipe coaters, to pipeline users and operators.

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According to a new study by Applied Market Information Ltd., the global artificial turf market is expanding rapidly. Artificial turf is increasingly meeting the needs of sports facility owners that require their fields to be consistently available for more intensive use. For home owners and architects it is providing a desirable landscaping option. In each application it has developed from being a valuable solution where climatic conditions are challenging e.g. because there is too much or too little rain, or because heat or freezing temperatures cause the ground to be too hard, to being a product of choice because of its lower maintenance needs compared to natural grass.

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