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Global Chemicals Quick Review
M&A in the global industrial gas industry is surging
Germany's Linde and Praxair are in the early stages of merger negotiations, Linde said a few days ago that negotiations are still ongoing, and there is no concrete result
.
If the merger is successful, the number of global industrial gas giants will be reduced from the existing four to three
.
Weak industrial production may force more M&A activity
in the industrial gases sector.
Bala Suresh, head of IHS Chemicals, said large industrial gas companies may try to consolidate their market position and maintain market share
through mergers and acquisitions due to weaker manufacturing activity.
In particular, the recent Air Liquide acquisition of Airgas will spur other industrial gas giants to follow suit
.
East African LNG development "needs to be accelerated"
In the context of a growing global population and energy demand, East Africa's vast natural gas reserves are attracting continued attention
from investors along the "New Silk Road" from China to Nigeria.
However, intensifying competition among global LNG exporters means that the window of opportunity in East Africa is gradually closing, and East Africa should use its advantages to accelerate the development of LNG projects and realize its abundant resources as soon as possible
.
Tanzania and Mozambique are East Africa's largest natural gas reserves, with a combined proven reserve of nearly 250 trillion cubic feet
.
In addition to its abundant natural gas resources, East Africa also has a convenient geographical location, and its long coastline can serve as a springboard
into the markets of the Middle East, India, China, Southeast Asia and Northern Europe.
Germany's three major specialty chemicals companies raised their profit forecasts for this year
While the global chemicals market remains volatile, executives from Germany's three major specialty chemicals companies, LANXESS, Evonik and Covestro, have raised their earnings forecasts
for the year.
Due to favorable factors such as increased sales volume this year, lower costs, improved plant utilization and benefits from business restructuring, LANXESS has raised its pre-tax profit forecast for 2016 to 1.
04 billion ~ 1.
08 billion US dollars, compared with the previous forecast of 1 billion ~ 1.
06 billion US dollars
.
Evonik currently expects pre-tax profit of nearly $2.
5 billion in 2016, compared to a previous forecast of $2.
2 billion ~ $2.
5 billion, said Klaus Engel, chairman of the company: "We are well positioned to increase sales in a continuously challenging business environment
.
However, due to the significant decline in selling prices, especially in the Nutraceuticals and Performance Materials business unit, this will lead to a slight decline
in sales revenue for the full year.
Covestro forecasts a slight increase in sales this year, while pre-tax profit is at least in line
with last year.
Patrick Thomas, CEO of Covestro, said: "Our plant utilization is increasing, which will increase core product production and increase profitability
.
”
Teijin buys shares in DuPont Mylar joint venture
Japan's Teijin has agreed to acquire DuPont's stake in its Mylar film joint venture in Japan and Indonesia, both established in
2000.
Among them, the acquisition of a 40% stake in Teijin DuPont Film Japan held by DuPont will take effect
immediately.
In addition, Teijin will acquire DuPont's 49.
9% stake in Teijin DuPont Film Company in Indonesia, a deal that is subject to regulatory approval
.
After the completion of these two transactions, Teijin will wholly own the businesses
.
Teijin said the Mylar film business environment is becoming increasingly challenging
due to weak demand due to the cooling of the Chinese economy and the increase in new competitors in the Chinese market.
