Draslovka, a multi-family-owned Czech speciality chemicals firm, has agreed to acquire the Mining Solutions business of Chemours for $520 million, or 10 x EBITDA in 2020. This came shortly after its agreement to buy Sasol’s sodium cyanide business $101.7 million. CEO Pavel Bruzek said that the deals were “highly synergistic” with each other.
DuPont and the companies that used to be part of it, Chemours and Corteva, have reached a settlement with the Delaware Department of Justice. Under this, they are held responsible for decades of damage done to Delaware’s environment by per- and polyfluoroalkyl substances (PFASs).
The agreement has avoided a potential lawsuit for historic contamination by PFASs in Delaware, which remains DuPont’s headquarters. This had impacted waterways and groundwater located in each of the state’s three counties.
Chemours has announced plans to achieve a 60% absolute reduction of operations-related greenhouse gas emissions by 2030 and net zero emissions by 2050. It warned, however, that achieving this “will require significant collaboration in both the public and private sectors to deliver technological innovation and government policies that enable and incentivise the transition to a greener economy”.
Chemours has divided its former Fluoroproducts segment into two new reportable segments under newly appointed presidents. The aim was to facilitate “an enhanced customer-centred approach, management focus and decision-making, strengthened resource allocation, and increased transparency and accountability”, the company said.
DuPont, its spin-off company Chemours, and Corteva, which unites DuPont’s and Dow’s former agrochemicals businesses, have agreed a settlement on all legal disputes concerning per- and polyfluoroalkyl substances (PFAS) arising out of the spin-off of Chemours in 2015.
The news is entirely dominated by the coronavirus pandemic. Here, we summaries some of the key developments in the fine and speciality chemicals industry so far in April
Multiple companies are turning spare capacity over or building new capacity to supply hand sanitiser. Leading the way is Ineos, which had already built three such plants in the UK, France and Germany and has now announced plans to build a fourth at Etian, France, to serve hospitals in Paris, north-eastern France and Belgium.
The first step in ongoing litigation in the US between Chemours and its parent firm DuPont over the cost of environmental liabilities relating to historic pollution caused by per- and polyfluoroalkyl substances (PFASs) went DuPont’s way on 2 April. Chemours has said that it will appeal to the Delaware Supreme Court.