DATE : 2016-02-16
For this, the company will modify one of the three polystyrene (PS) producing lines at its Nagothane plant into a swing line capable of producing 42,500 tonne per annum of SMMA.
Supreme Petrochem Ltd has decided to set up a production line for styrene methyl methacrylate (SMMA) at its Amdoshi (Nagothane, Maharashtra) plant. For this, the company will modify one of the three polystyrene (PS) producing lines at the plant into a swing line capable of producing 42,500 tonne per annum of SMMA in addition to PS.
“The technology for the modification of the PS line and production of SMMA will be from Polysty Inc, USA. The cost of the project, including hardware and technology fee should be around Rs 6 crores and will be met from internal accruals. The plant start-up is expected by end of 2016 and the estimated payback period is two years,” said Supreme Petrochem.
Supreme Petrochem Ltd manufactures polymers such as polystyrene, expandable polystyrene (EPS), extruded polystyrene foam boards (XPS), etc at its two facilities in Nagothane and New Manali Town, Chennai (Tamil Nadu).
Source MRC.plast.com
DATE : 2016-02-16
Versalis (Eni), a European producer in the polymers and elastomers industry, and Genomatica, a leader in bioengineering solutions, announced today that they have successfully advanced to pilot-scale production of bio-butadiene (bio-BDE) from fully renewable feedstock. Versalis used this bio-BDE to make bio-rubber, specifically, bio-polybutadiene (bio-BR). These accomplishments represent a remarkable milestone for the rubber industry, by enabling an improved technological and sustainability footprint; and to the broader industry for butadiene, one of the most widely-used chemicals in the world, with over ten million tons produced per year. The success of this innovative undertaking results from a newly-developed process for the on-purpose production ofbutadiene which uses various types of sugars as feedstock, rather than the traditional use of hydrocarbon feedstocks.
The project started with the establishment of a technology joint venture between Versalis and Genomatica in early 2013. The joint venture with Versalis having the majority stake - has developed a complete process to make bio-BDE and plans to license the resulting technology.
The joint venture uses the proven and complementary strengths of both companies. Versalis and Genomatica together determined that 1,3-butanediol (1,3-BDO) was the most suitable intermediate to produce bio-BDE. Genomatica applied its whole-process systems approach to bioengineering to develop a microorganism that produces 1,3-BDO in a way that enables cost-efficient, scalable fermentation, recovery and subsequent process operations. Versalis leverages its industrial process engineering and catalysis capabilities, plus expertise in overall polymer production, to purify the 1,3-BDO, dehydrate it and then purify the resulting butadiene. Versalis has produced several kilograms of butadiene from 1,3-BDO made in 200 liter fermenters at their research centers at Novara and Mantova, and then made bio-polybutadiene, at the Ravenna R&D centre, using both anionic and Ziegler-Natta catalysis.
Initial testing of the bio-BDE and bio-BR demonstrates good compatibility with industry standards. Versalis is continuing to test the bio-BDE within its other proprietary rubber and plastics downstream technologies such as SBR (Styrene-Butadiene Rubber), SBS (Styrene-Butadiene-Styrene Rubber) and ABS (Acrylonitrile Butadiene-Styrene). The accomplishments demonstrates the common vision of the partners on the potential of this project: access to on-purpose butadiene from renewables will establish a competitive advantage and will ensure a strategic raw material from alternative feedstock, contributing at the same time to drive a greater sustainability profile for downstream applications in the plastics and rubber businesses.
About Versalis
Versalis (Eni) is interfacing with markets through globally-oriented strategies and a market-driven product portfolio. It leads the industry in manufacturing intermediates, polyethylene, styrenics and elastomers and has entered the green chemicals and polymers industry partnering also with worldwide biotech companies. Versalis prides itself on its wide range of proprietary technologies, wide-reaching distribution network and after-sales assistance. As part of its new strategy, the company aims to gain a significant position in fast-growing markets by leveraging its technological and industrial expertise. In Asia, Versalis has entered into partnerships with global petrochemical producers for development of its elastomer division.
About Genomatica
Genomatica is a widely-recognized leader in bioengineering. It develops biobased process technologies and solutions that enable its partners to produce chemicals a better way, from alternative feedstocks, with better economics and greater sustainability than using conventional feedstocks and processes. Partners include ENI Versalis, Braskem, BASF, Novamont and Cargill. Genomatica is distinctive in its total-solutions and systems engineering approach. Its bioengineering platform intimately intertwines and co-optimizes microorganism design, process design and economics. This approach has consistently delivered reliable timelines for bioprocess design and scaleup, high product quality, and economic competitiveness.
SOURCE Oreanda News
MINNEAPOLIS, Feb. 10, 2016 /PRNewswire/ --
The Valspar Corporation (NYSE: VAL) announced that it has completed the acquisition of ISVA Vernici, a European coil coatings manufacturer headquartered inTurin, Italy. The ISVA acquisition extends Valspar's manufacturing footprint in Europe and brings customers an expanded product offering and increased customer service capabilities. Financial terms of the acquisition were not disclosed.
"ISVA's excellent positioning in southern Europe will improve Valspar Coil's global presence and extend our reach into North Africa and the Gulf region," said Howard Heckes, Valspar Executive Vice President and President, Global Coatings. "Both Valspar and ISVA have long histories of innovation, supported by technologies and products that are well-respected in the market. Valspar's customers will benefit from access to coating technologies from ISVA paired with Valspar's technical service and global manufacturing capabilities. We are pleased to welcome the ISVA team to the Valspar family to help deliver these benefits to our customers."
Valspar is one of the leading manufacturers of architectural coil and extrusion coatings in the world. With an enduring commitment to durability, sustainability, and an ever-expanding palette of colors, Valsparoffers unlimited design freedom to countless industries, projects and locations.
Valspar: If it matters, we're on it.®
Valspar is a global leader in the coatings industry providing customers with innovative, high-quality products and value-added services. Our 11,000 employees worldwide deliver advanced coatings solutions with best-in-class appearance, performance, protection and sustainability to customers in more than 100 countries. Valspar offers a broad range of superior coatings products for the consumer market, and highly-engineered solutions for the construction, industrial, packaging and transportation markets. Founded in 1806, Valspar is headquartered in Minneapolis. Valspar's reported net sales in fiscal 2015 were$4.4 billion and its shares are traded on the New York Stock Exchange (symbol:VAL). For more information, visit www.valspar.com and follow @valspar on Twitter.
DATE : 2016-02-09
Arkema had an option, until early 2016, to increase its stake in Taixing Sunke Chemicals, a productionjoint venture which owns and operates acrylic acid and butyl acrylate production units in Taixing, China, and therefore access an additional 160,000 tonnes/y of acrylic acid capacity. As the financial terms of the option no longer reflect current market conditions for acrylics in China, Arkema has decided not to exercise this option. Therefore, Arkema keeps its initial rights to acrylic acid capacities thus supporting the development of its downstream acrylic activities in Asia and its customers' growth in the region. In line with its strategy to further strengthen its High Performance Materials segment, the group could allocate part of the unused funds to make bolt-on acquisitions.
SOURCE SpecialChem Coatings and Inks Formulation
DATE : 2016-02-05
Asahi Kasei is in plans to shut its No.2 styrene monomer (SM) plant permanently. A Polymerupdate source in Japan informed that the plant is expected to be mothballed on February 15, 2016. Located in Mizushima, Japan, the No.2 SM plant has a production capacity of 320,000 mt/year.
SOURCE PolymerUpdate
DATE : 2015-02-03
Dow Chemical will shut down one of five crude acrylic acid (AA) production lines at its Deer Park plant in Texas within the next few weeks, a source close to the US producer confirmed on Tuesday.
Nameplate production at the Deer Park plant is 580,000 tonnes/year, the largest AA production facility in the US, so the closure of one line would effectively take an estimated 116,000 tonnes of acrylic acid out of the domestic and export merchant market.
The measure, which the company is expected to formally announce on Wednesday, is in response to poor economics within the US acrylic acid and acrylate esters businesses, the source said.
“As we are all aware, the acrylates market has been significantly oversupplied for some time. This step was needed to ensure the long-term viability of the acrylatesbusinesses,” the source said.
The capacity reduction will effectively increase Dow Chemical’s captive production to about 70% from its current 55%, the source estimated, conceding that the cutback will have a “trickle-down effect” on the production of both glacial acrylic acid (GAA) and the esters.
Although the plant will be running hard going into the spring peak demand season, supply availability will hinge on how robust seasonal demand for paint and coating turns out to be.
Several sources have predicted year-on-year spring demand improvement of about 5%, but a buyer said it was not yet concerned that supply would be tight this spring.
“I think the way things are now,” the buyer said, “it’s not going to cause any real market disruption.”
Other major US acrylates producers include Arkema and BASF.
SOURCE Icis News
January 21, 2016: Evonik Industries' venture capital arm hasinvested in Finnish startup company Synoste, in whichEvonik now holds a minority stake.
The investment was made as part of an A-series roundtogether with companies, including German High-Tech Gründerfonds, and Finnish venture capital funds Finnveraand Polish Lifeline Ventures.
The overall volume of the financing round is in the single-digit million-euro range.
Synoste, founded in 2012, is a spin-off of Finnish Aalto University. The company, together with Orton, a Polish hospital specialized in orthopedics, developed a high-tech implant for a minimally invasive treatment of leg-length discrepancy, which can lead to chronic back pain and osteoarthritis in the long term.
Evonik's Vestakeep-branded PEEK will be used in theimplant. Synoste is expected to launch the implant on themarket in 2017.
Evonik has multiplied movements in order to push forward itsPEEK portfolio and to increase its lead on Chinese competitors.
- Last November, Evonik expanded capacity for PEEK polymers in China which started in 2006. https://engage-solvay.jiveon.com/groups/blog-competitive-intelligence/blog/2015/ 11/16/evonik-to-expand-capacity-for-peek-polymers-in-china
- As mentioned in its 2014 annual report (p.10, more…),Evonik also worked on the development of PEEK particles which are able to deliver pharmaceutical actives (API) into the bloodstream.
Comparatively:
- Victrex, market leader, announced last December a £15 million investment in order to support identified “mega-programmes” notably in medical sector.
- Victrex: new investment of £15 million in PEEK facility to support identified ‘mega-programmes’ across the industrial and medical sectors.Arkema sold its PEKK medical business in June 2011 to the original founders of Oxford Performance Materials to consolidate its industrial activities.
Sources: Evonik, Chemweek. from Jerome Spiel in Solvay Blog Competitive Intelligence
Syngenta has announced that its succinate dehydrogenase inhibitor (SDHI) fungicide Solatenol (benzovindiflupyr) has received EU approval. Solatenol is reportedly effective against a number of diseases in cereal production, including Septoria spp. and rusts. The product will initially be made available for sale in France during the 2016 season, with Syngenta targeting a peak sales potential of $200 m. across Europe.
Solatenol has recently been approved in the USA (see AgreWorld 1stSeptember 2015) and Canada (see AgreWorld 2nd September 2015), and is anticipated for commercial launch in those regions this year.
Source: Phillips Mc Dougall
AgreWorld Daily Note - 08 January 2016
DATE : 201-01-08
To maintain profitability and earnings momentum, specialty chemical firms Camlin Fine Sciences Ltd and Vinati Organics Ltd are strengthening their cost leadership by building new facilities and entering new product categories.
Camlin is entering the food ingredients business. According to IndiaNivesh Securities Ltd, it has launched four new products.
The company is expanding facilities at Dahej, which, once completed, will help it attain scale, further lowering costs.
"Camlin's capacity expansion in Dahej-SEZ (special economic zone) should lead to a significant reduction in sales to raw material ratio," IndiaNivesh said in a note. "Further, Europe subsidiary selling Hydroquinone in the open market will result in high realization. As a result, the commencement of the Dahej facility would have two-ways margin expansion."
Vinati Organics is building a co-generation power plant and debottlenecking the existing facilities. Once operational, the power plant is estimated to lower the company's electricity expenses by up to Rs.8 crore per year, Motilal Oswal Securities Ltd said in a note.
"Debottlenecking of the existing capacities and new capacities for IB (Isobutylene)-based derivatives could contribute Rs.200 crore (25% of revenue in FY15) once they reach full utilization," Motilal Oswal adds.
After completion, the new facilities will help Camlin and Vinati Organics strengthen their competitive scenario and improve profitability.
"Vinati Organics is likely to maintain the margins above 28% during FY16E-FY17E, a margin expansion of 4% in comparison with FY15," Karvy Stock Broking Ltd said in a note.
That could help bring solace to investors.
Tracking the downtrend in commodities, the sales of both the companies slackened in the first half of the current fiscal year.
Camlin's consolidated sales are down 14% and Vinati Organics' by 24%. The companies use crude derivatives as raw materials and the falling crude prices lower sale prices. But the companies were able to maintain margins due to low raw material prices and control over costs.
The companies depend on exports for a significant part of their business. So, a deeper slowdown in the global economy can put pressure on sales and profitability.
While this risk increased in recent weeks, proof that new facilities are delivering intended benefits-sales and cost reduction-will provide support.
SOURCE HNMINT
DATE : 2015-12-22
Methyl methacrylate (MMA) supply in Europe could balance or tighten in 2016 compared with the length seen in the market in the latter half of 2015.
This will most likely be driven by reduced imports into Europe from Asia and the US, and will coincide with expectations of marginal growth for the MMA sector, underpinned by GDP growth forecasts of a few percentage points. Derivative demand for MMA, for example from the construction industry, is closely linked with GDP.
2015 supply was a tale of two parts.
Supply up until September was constrained because of production problems. From early autumn onwards, the market grew gradually longer as constraints eased, and imports progressively rose.
What is expected to change in 2016, however, is the abundance of supply. That is partly because the majority of Asian producers were running at full rates up until November this year. Since then, producers in Asia have opted to reduce run rates – in some cases to 60% of capacity - because of lower demand. As this is expected to continue in the new year, amid schedule turnarounds, this will have an impact on global supply – although the degree to which is not yet clear.
And the uncertainties do not stop there. Along with supply and demand unknowns, raw material cost evolution remains hazy, as does the exchange rate against the dollar and with some players expecting a year of volatility, there is a sense of unease.
There is talk that there could also be less volume coming in from the US compared with that which came in this year.
Europe is a net importer of MMA.
In a period of healthy demand, for example during the spring months, the market can tighten quickly if even just one plant is not running.
The year has ended with demand slowing as destocking measures are under way as normal. However, as coatings players began reducing stocks six months ago, and those from the plastics sector in October, the first quarter of 2016 is likely to start with slow, cautious, but decent demand as market participants look to replenish stocks.
Supply could be limited by February as one producer is set to begin plant maintenance, and that is expected to reduce supplies to the merchant market for a few months. While there are still likely to be imports from Asia compensating for lost domestic volume, this turnaround will also coincide with the Lunar New Year, after which Asian demand usually picks up.
The second quarter is typically the strongest as demand from the construction industry peaks, and as offtake from the coatings sector has a real pull on material.
Q3 supply and demand usually play out in largely the same way as Q2, followed by Q4 which tends to end slower because of winter demand and destocking.
Demand wise, the star for MMA in 2015 has been polymethyl methacrylate (PMMA). It will be interesting to see how this transpires next year.
The PMMA market in Europe is expecting stability to some slight growth in 2016.
Despite the positive outlook, because of the steep drop in upstream MMA prices in Q4, a decrease is widely expected for Q1 contract prices.
The continued growth of the derivative European automotive sector has fuelled growth in the market and has contributed to a strong performance in 2015 for European suppliers.
In October, the European automotive sector posted its 26th consecutive monthly increase in new car passenger registrations, according to the European Automobile Manufacturers Association (ACEA).
This equates to an 8.2% growth between January and October, or 11.5 million units.
With the key use of PMMA being taillights and headlights, any significant growth in the automotive sector has a direct impact on the market.
It is this sector that has contributed towards the expectations for growth, from both buyers and sellers, involved in the automotive sector, for 2016.
The main threat to this growth is the economic slowdown in China, which threatens to slowdown the growth in the automotive industry. A number of market participants in the PMMA view the situation in China as the biggest threat to the PMMA sector.
There were also some concerns about the impact of the Volkswagen (VW) diesel emissions scandal on the growth of the automotive sector.
For the PMMA industry there is a view that even if VW sales do decrease, buying interest will shift to another manufacturer.
The biggest concern was for tier-one automotive suppliers and suppliers to VW, who were being approached by the car-giant to recoup some of its loss from the scandal.
Some sectors, for example the extruded sheets sector, do not have the same positive outlooks, with Altuglas already announcing plans to close its PMMA extruded sheet business. It remains to be seen if there will be any further closures in this sector.
There could also be some pressure in 2016 with polycarbonate (PC) prices falling heavily in Q4 of 2015. If the gap between PMMA and PC closes this could cause some buyers to assess their options.
European producers are also expecting a continued growth in market share in 2016, which helped by the euro against the dollar exchange rate has been a driver for an increase in demand in 2015.
Supply is expected to remain balanced-to-long despite a presence of Asian imports in the market, noticeable for the second half of 2015.
SOURCE Icis News
DATE : 2015-12-22
Asahi Kasei is in plans to shut a styrene monomer (SM) plant permanently. A Polymerupdate source in Japan informed that the plant is expected to be mothballed in H2 February 2016. The exact reason behind the permanent shutdown could not be ascertained. Located in Mizushima, Japan, the plant has a production capacity of 320,000 mt/year.
SOURCE Polymer Update
DATE : 2015-12-28
Daljeet Singh Kohli, Head of Research at India Nivesh Securities told CNBC-TV18, "Camlin Fine Sciences is a story which is not just for 2016 calendar, but also for the next three to four years. Now, basic reason, one is that they are continuously increasing their product portfolio. They have already launched four or five products in the last year which were in trial run, so they will start adding to the numbers this year onwards.""Second, they had taken over a company in Europe which is become now their subsidiary, till now, they are importing everything from there, but with that company coming in, the hydroquinone, that has given them the technology to produce it.
Now, extending that same benefit, they are putting up a new plant in the Dahej which was will come up in 2018 and that, they will start producing all those same products here.""Now, the benefit will be the subsidiary will be free to sell the entire produce to the world market, so right now 60 percent of that is shown as internal consumption, that will go away. So, technically, their numbers will become very big in the year 2018 and 2019.""And third thing is that with the companies positioning itself into a lot of these value added products like Vanillin and things like SH Kelkar is doing, fragrances, etc. So, it is a bigger product basket than SH Kelkar available at much cheaper valuation makes sense to look at this stock. We have initially given a one year target as Rs 136, but this can be easily rolled over in the next years as well when this numbers come in," he added.
SOURCE Money Control
DATE : 2015-12-16
NIPPON SHOKUBAI has announced that NIPPON SHOKUBAI EUROPE N.V., a subsidiary in Belgium, has opened a new superabsorbent polymer, or SAP, plant and acrylic acid, or AA, plant in its plant site in Antwerp, Belgium.
Since SAP, one of Nippon Shokubai's core businesses, shows steady growth of demand as a key material of disposable diapers, Nippon Shokubai decided the expansion of SAP and its main raw material, AA, as announced in May this year.
In Europe, Nippon Shokubai expects the steady demand of SAP especially in Central and Eastern Europe.Nippon Shokubai will ensure more stable supply after the investment of not only SAP but also its main raw material, AA.
With this new plant at NSE, Nippon Shokubai group's global SAP production capacity will be 710,000 metric tons per year ("T/Y") and Nippon Shokubai will enhance its position as one of the world top suppliers of SAP.
SOURCE Market Line
DATE : 2015-12-15
- Evonik researchers and scientists at Graz University discover biotechnology access to 1-alkenes
- Sophisticated enzyme system as a potential solution
- Biotechnological processes may in future be incorporated into integrated chemical production right from the start of the value chain
Researchers at the specialty chemicals company Evonik Industries, in cooperation with scientists at Graz University, have discovered a biocatalytic access to 1-alkenes such as propene and 1-butene. Such hydrocarbon compounds are considered as key substances for the chemical industry's sophisticated integrated production of high-quality products. For example, Evonik uses propene in the manufacture of superabsorbents or methionine, while 1-butene serves as a component in many types of polyethylene and can be used as a raw material for producing plasticizers.
Such source materials have thus far not been typically manufactured with the aid of biocatalysis. In the opinion of leading scientists, the expansion of biotechnological processes to base, bulk and numerous specialty chemicals remains a largely unresolved challenge to this day. Dr. Thomas Haas, head of the Science & Technology unit at Creavis, Evonik’s strategic innovation unit, says: "If we can succeed in developing technically and economically feasible solutions in this area, we would be able to efficiently combine biotechnological and petrochemical processes in the chemical industry in the form of integrated production for greater added value."
The industry researchers and the scientists working at Graz University under Professor Kurt Faber achieved a first breakthrough when they used naturally occurring short-chain alkanoic acids—saturated fatty acids produced by bacteria—as the source material for 1-alkenes. Haas notes: "It took the team a year to find an enzyme system for the optimal catalysis of converting the saturated fatty acids to 1-alkenes, ultimately with great success."
An established enzyme system, P450 monooxygenase OleT, catalyzes this chemical reaction—oxidative decarboxylation of alkanoic acids to 1-alkenes—very efficiently and substrate-specifically. Thanks to a cascade of two additional enzyme systems, the required electrons for oxidation are absorbed from oxygen in the air. Haas describes the next steps: "We are now working to transfer our enzyme combination to living cells. However, there is still a lot of work to do before we are ready for industry-scale production."
Haas and his team are consistently pursuing the goal of making renewable resources usable for the chemical industry with the help of biotechnology processes. "We will only be able to make equal use of fossil and biogenic raw material streams if we can find a way to incorporate biotechnological processes into integrated chemical production. This will help maintain and expand the industry's established and efficient value chains," he explains.
SOURCE Evonik
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The potential merger of Dow Chemical and Du Pont would not create one gigantic juggernaut of a chemical company rolling across the global industry, but three nimble new entities with a sharp focus and lean structures perfectly positioned for maximum earnings. The latter is, at least, the image Dow and DuPont officials will likely present once the merger is finally announced, which most analysts believe could be in mid-December. Speculation spread across the industry and news media on Wednesday, 9 December, in the wake of reports that the two chemical industry giants were in the final stages of merger talks. The main thrust of this move appears to be unlocking value in the companies’ agricultural and crop seed businesses, which reportedly would be spun off into a separate company following completion of the merger. According to various industry analysts, other potential new businesses created out of the merger could include a materials and materials sciences company and a specialty products company. A deal of this magnitude would, inevitably, require tremendous regulatory examination. “This deal actually makes less sense if they did not think about breaking up the merged companies,” Jason Miner, a senior global chemicals analyst with Bloomberg Intelligence, said on 9 December. “Regulators are going to be the big question moving forward especially with regard to the combined ag businesses. Surely Dow and Du Pont would have put the businesses under scrutiny and must feel reasonably certain this will go through.” Miner said he believes the merger, should it be approved, would solve several problems currently plaguing both Dow and Du Pont. “This merger should create new opportunities for the combined businesses of both companies,” he said. “Dow’s earnings have been affected by slow growth, and Du Pont’s have been affected by commodity volatility."
The agricultural chemical industry has been the subject of intense scrutiny for several months involving major companies such as Dow, Du Pont, Syngenta and Monsanto, with other potential mergers and tie-ups discussed and dismissed. Both Dow and Du Pont have been shedding non-core and/or less profitable businesses in recent years. For example, in 2015, Dow sold its Chlor-Alkali unit to Olin Corp and Du Pont spun-off its Performance Chemicals unit to create The Chemours Co. Du Pont sold its Fibres unit to Koch Industries in 2004, which included brand names such as “Lycra” elastane and “Dacron” polyester. Dow is no stranger to the concept of chemical industry mega-mergers after purchasing two iconic US companies since 1999 – Union Carbide Corp and Rohm & Haas. Du Pont’s major acquisition in recent years was Dutch enzymes producer Danisco in 2011. Beyond the ag chemicals businesses, the companies don’t have much market commonality, according to Miner. “Shareholder activists on both sides are a big part of why this deal is happening,” Miner said. “The overlap between the two companies is a lot less than it would appear.”
Dow is heavy in basic chemicals and plastics, and has plans to expand capacity in the US Gulf Coast to take advantage of abundant shale gas supplies that underpin the “renaissance” of the country’s petrochemical industry. Dow currently has capacity to produce more than 7.5 million tpa of ethylene in the US Gulf Coast, and is building a new 1.5 million tpa cracker at Freeport, Texas, for start-up in 2017. Du Pont, on the other hand, has one cracker with 1.3 million tpa of capacity. Du Pont has been busy investing in intermediates and bio-based chemicals, such as the bio-BDO joint venture between Du Pont Tate & Lyle Bio Products and Genomatica.
However, the deal is not yet done. There will be many more words written and blogs published debating its merits, and the 24-hour news cycle will pick apart the pros-and-cons of the proposed merger looking for winner and losers. Whether it is good or bad for the industry and employees will require more time and analysis.
Source: Tecnon Orbichem Dec 11, 2015