M&A
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SKC has put 49% of its SKC Chemicals business into a joint venture with Kuwait's Petrochemical Industries Company (PIC). The joint venture plans to build 1MT/year propylene oxide (PO) capacity.
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Automotive interior company Adient is selling its automotive fabrics manufacturing and lamination business to Sage Automotive Interiors.
Wanhua and state-owned Fujian Petrochemical Group are setting up an 80-20 joint venture diisocyanate business.
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Mearthane Products has bought Polyurethane Molding Industries. This is its fifth acquisition in the past three years.
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FXI has completed the purchase of Innocor. The deal was first announced in March 2019.
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FXI must sell a plant, and two of Innocor's after it buys Innocor to stop the FTC from objecting to the deal.
Huafon Spandex, the Shenzhen-listed elastane arm of China’s polyurethane heavyweight Huafon Group, estimates its unaudited annual net profit will shoot up to between CNY 1.5bn and CNY1 .8bn ($214m to $257m).
Detroit, Michigan – Automotive seating supplier Adient has sold its license to use the Recaro brand in seats to Raven Acquisition. Adient also sold its 31.% stake in its joint venture with Yanfeng, to its partner.
Italian CASE manufacturer Cervellati is now part of the French-headquartered Exsto Group.
Seal For Life has acquired four further businesses, expanding its coating portfolio.
