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Elkem ASA announced that it will acquire Basel Chemie, a Korean producer of speciality silicone gels for cosmetics and water repellents for the construction industry. The companies have agreed an enterprise value of USD 26.9 million for the acquisition. The transaction is subject to final regulatory approvals. Closing is expected by the end of September 2019.

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LyondellBasell has signed a memorandum of understanding (MoU) with Liaoning Bora Enterprise Group (Bora) to form a 50-50 joint venture in China, which will operate an ethylene cracker currently being built by Bora. Under the MoU, the parties will establish the joint venture in Panjin.

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The European Chemical Industry Council (Cefic) has received commitments from 102 chemical manufacturers to reevaluate the safety data in previously submitted REACH registration dossiers.

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The worst for the rubber glove sector is over and growth is likely to resume in the coming quarters as glove manufacturers indicated that they have started to increase selling prices to pass on the incremental costs, according to Affin Hwang Capital. “Malaysia manufacturers are acting more rationally to prevent an all-out price war, as they are willing to delay or cut capacity to maintain selling prices,” it said in a research note.

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Some five major projects in Ankara, Istanbul, Bursa and Adana will be receiving government support, according to a presidential decree published on Thursday (5 September 2019) in the Official Gazette.

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Tosoh will invest approximately JPY 5 billion (~ EUR 42.4 million) to increase the production capacity for Skyprene chloroprene rubber at its Nanyo Complex in Shunan City, Yamaguchi Prefecture, Japan. The facility is expected to reach a CR capacity of 37,000 t/y after debottlenecking. Construction started in August 2019. The expansion is scheduled to be completed in October 2021. According to the company, CR produced a the facility is used in the manufacture of automotive hoses and belts, industrial parts, and adhesives.

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Saudi Aramco and Reliance Industries Limited (RIL) have signed a non-binding Letter of Intent (LOI) regarding a proposed investment in the Oil to Chemicals (O2C) division comprising the refining, petrochemicals and fuels marketing businesses of RIL. Saudi Aramco’s potential 20 % stake is based upon an enterprise value of USD 75 billion for the O2C division. According to RIL, this would be one of the largest foreign investments ever made in India.

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Thailand's packaging and printing industries are shifting to produce bio-flexible packaging products in line with the government's policy to ban plastic packaging in the future, says the Thai Packaging Association.

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The Ministry of Agriculture and Cooperatives plans to propose to the cabinet guaranteed prices for rubber to benefit the 1.4 million rubber farmers who have suffered losses for the last five years.

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The K 2019 trade fair for plastics and rubber will take place from 16 – 23 October 2019 in Düsseldorf, Germany, where the VDMA Plastics and Rubber Machinery Association will shine the spotlight on the recycling sector and show how closed loops can work effectively. A series of interviews is shedding light on why it is doing this and the significance of the "Circular Economy" for member companies of the association. In this interview, Alfred Stern, CEO of Borealis AG, will talk about his views on the subject.

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The Association of Natural Rubber Producing Countries (ANRPC) announced that it has released the “Natural Rubber Trends & Statistics, May 2019”. Based on the preliminary estimates, the world production of natural rubber (NR) registered a fall of 6.5 % to 4.930 million t during the first five months of 2019, on a year-to-year basis. At the same time, the world consumption recorded 5.789 million t, up by 0.9 % from 5.376 million t during the same period last year. According to ANRPC, this favourable market fundamental has kept the sentiment in the NR market strong despite the tension between China and the USA.

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