Huntsman Corp., Clariant to merge, create new company
Huntsman Corp. and Clariant have agreed to a merger, an all-stock deal that would create a chemical giant with a combined value of $20 billion. The new company will be called HuntsmanClariant, and will operate as a global specialty chemical company with expected sales of near $13.2 billion. As part of the agreement, Clariant shareholders will control 52 percent of the combined group with Huntsman investors owning the remaining 48 percent of the company.
Emerson acquires MYNAH Technologies
Emerson completed the purchase of MYNAH Technologies, a long-time Emerson alliance partner and a provider of dynamic simulation and operator training software. The purchase is intended to help support Emerson Automation Solutions and its Operational Certainty program. MYNAH’s Mimic Simulation Software is currently in use at more than 1,400 sites across 68 countries in industries ranging from hydrocarbon production, refining, chemical, pharmaceutical and biotechnology. The terms of the acquisition were not disclosed.
SPX FLOW opens new service center in North America
SPX FLOW Inc. launched its first North American multibrand service center based in Corpus Christi, Texas. It offers aftermarket solutions in rental and sales of controlled bolting; repair and service of pumps, mixers and valves; and sale of OEM spare parts. The service center will also offer upgrade and re-rate solutions for pumps, mixers and valves.
Package Concepts and Materials undergoes expansion
Package Concepts and Materials Inc. is adding a 30,000-square-foot expansion to its Greenville, South Carolina, meat and poultry processing plant. The $3 million expansion will help the company collaborate with leading manufacturers, universities and raw material suppliers for enhanced production of consumer meat and poultry products. The expansion is expected to be completed this summer.
Boyd Corp completes acquisition of Aavid Thermalloy
Boyd Corporation acquired Aavid Thermalloy, a move that creates a new business that will operate as a division of Boyd Corporation. Through this transaction, Boyd expands its expertise in active and passive thermal management accretive to key strengths in heat spreading, EMI shielding, optically clear adhesives, electrical, acoustic and thermal insulation, acoustic filtration, vibration absorption and mechanical damping. Headquartered in Modesto, California, Boyd’s manufacturing and design hubs now span North America, Europe and Asia with facilities in the U.S., Canada, Germany, Italy, U.K., Vietnam, Thailand, Korea, China, Taiwan and India.
Continental expands manufacturing, production capabilities
Continental is investing approximately $12 million in its ContiTech PVC hose business in North America as well as expanding its manufacturing and production efforts with a new state-of-the-art competence center at its upgraded plant in Mount Pleasant, Iowa. Last year, Continental invested approximately $8 million to expand its rubber hose operations in Mount Pleasant.
Garner Industries expands Lincoln operations
Garner Industries is expanding its operations in Lincoln, Nebraska, with a 40,000-square-foot addition to its existing 75,000-square-foot building. The addition will accommodate the company’s growing plastic injection molding business, provide additional warehouse space, and offer room for future business growth. Ground breaking for the expansion was on May 15, with an estimated completion date of Sept. 1.
Axalta Coating Systems to acquire Spencer Coatings Group
Liquid and powder coatings supplier Axalta Coating Systems entered into an agreement to acquire the Spencer Coatings Group, manufacturer of high performance industrial coatings for heavy-duty equipment, general industrial, oil and gas, and glass coatings segments. Financial terms of the transaction were not disclosed. Spencer’s three England-based manufacturing facilities supply industrial products throughout the U.K. and international markets.
INEOS to acquire DONG Energy’s oil & gas business
INEOS agreed to acquire the Dong Oil & Gas Business from DONG Energy A/S for an unconditional payment of $1.05 billion plus a contingent payment of $150 million related to the Fredericia stabilization plant and a contingent payment of up to $100 million subject to the development of the Rosebank field. The deal positions INEOS as a top ten company in the North Sea as well as the biggest privately owned exploration and production business operating in the energy basin. The acquisition and transfer of ownership is expected to be completed during the third quarter of 2017, and is subject to the receipt of regulatory and other third party approvals.
Owens Corning to acquire Pittsburgh Corning
Owens Corning signed a $560 million all-cash agreement to acquire cellular glass manufacturer Pittsburgh Corning. The acquisition is subject to regulatory approvals and is anticipated to close during the third quarter of 2017. Pittsburgh Corning operates facilities in the U.S., Belgium, Czech Republic and China, and delivered sales of more than $240 million in 2016.
Bacharach completes acquisition of Parasense
Bacharach Inc. has completed the acquisition of Parasense Inc. The two companies will continue to operate business as usual under their existing structure, company name, contacts and customer and supplier interactions. The combined resources of Bacharach and Parasense will strengthen the company’s ability to provide the solutions to the worldwide HVAC-R market with Fixed and Portable Gas Detection Instrumentation and Performance Monitoring offerings.
NBE Holdings acquires Brawn Mixer
NBE Holdings has acquired Holland, Michigan-based Brawn Mixer, a manufacturer of industrial fluid mixers. As part of the acquisition, Brawn Mixer will join National Bulk Equipment Inc., as another subsidiary company of NBE Holdings. The Brawn Mixer product line includes fixed-mount, top-entry mixers, portable top-entry mixers, side-entry mixers, controls, and mixer support structures for liquid mixing in general industrial, and sanitary industrial applications.
Hexagon acquires VIRES
Hexagon has acquired VIRES, a German-based provider of simulation software solutions that support the development, testing and validation of driver-assisted and fully autonomous driving technology. VIRES is now fully consolidated. The
Detection Technology expands production factory
Detection Technology Plc, completed the expansion of its Beijing factory, increasing its production floor area by 20 percent, or 700 square meters. This, along with the company’s investments in automation and technology, is expected to increase production capacity and enable greater flexibility for volume and product mix changes.
Cortec Corporation plans expansion
Cortec Corporation is planning a major expansion program at its Cambridge, Minnesota, film extrusion facility, Cortec Advanced Films (CAF). The facility manufactures recyclable vapor phase corrosion inhibiting films, which are used worldwide to protect metal parts and equipment from corrosion during storage and shipping. Part of the development includes the addition of a plastics recycling complex for CAF’s growing recycling program.
Matrix Design breaks ground on new manufacturing facility
Matrix Design LLC started construction on a new facility in Bartlett, Illinois, located about 10 minutes east of South Elgin. The 50,000-square-foot building will house operations for the company’s two existing locations. Matrix anticipates the project will be completed in November with a target move-in date of December 2017.