SINGAPORE (ICIS)–Evonik is ramping up plant and research investments in Asia to hit their growth targets, while mitigating direct shocks from US tariffs by targeting “local-from-local” production, according to Claus Rettig, President Asia Pacific at the German-based specialty chemicals firm. Evonik is undergoing a significant strategic transformation, aiming to increase its adjusted earnings before interest, […]

SINGAPORE (ICIS)–Thailand’s Constitutional Court has on Friday dismissed Thailand Prime Minister Paetongtarn Shinawatra after she was found guilty of ethics violations during a leaked call with former Cambodian Prime Minister Hun Sen. The decision paves the way for the election of a new prime minister and ends the term of Paetongtarn after just one year, throwing Thailand into […]

HOUSTON (ICIS)–Join Emily Friedman, ICIS US recycled plastics senior editor in Episode 5 of Sustainably Speaking alongside Arianne Perez, Asia recycled plastic senior editor, and Joshua Dill, Americas recycled plastic analyst, as they discuss the implications of weak domestic recycled polyethylene terephthalate (R-PET) markets between the US and Asia. Even as local feedstock markets tumble, both regions are […]

LONDON (ICIS)–Covestro has completed the acquisition of Swiss multilayer adhesive films company Pontacol for an undisclosed sum as part of a strategic portfolio expansion, it said on Friday. The Germany-headquartered polymer materials producer said the deal would open up new growth opportunities, driven by increasing demand in future markets such as medical technology, mobility, and […]

SINGAPORE (ICIS)–Royal Vopak has signed an agreement with Japanese heavy-industry firm IHI Corp to establish a joint venture for the development and operation of an ammonia terminal in Japan, the Dutch provider of storage and infrastructure solutions firm said on Friday. The terminal is expected to start operations in the Japanese fiscal year 2030, it […]

LONDON (ICIS)–UK economic growth fell for the second consecutive month in May, driven down by weak production and construction output. GDP declined by 0.1% in May following a decrease of 0.3% in April, the Office for National Statistics (ONS) said on Friday. A fall in May production output by 0.9% month on month was mainly […]

LONDON (ICIS)–Covestro has downgraded its outlook for 2025 due to an ongoing weak global economy with no signs of a short-term recovery, it said on Friday. The Germany-headquartered polymers producer cut its forecast for earnings before interest, tax, depreciation and amortization (EBITDA), as well as two other key financial metrics.       Published by: […]

LONDON (ICIS)–Germany’s Federal Ministry for Economic Affairs and Energy (BMWE) has reaffirmed its commitment to accelerating the hydrogen economy, after a spate of recent industry setbacks including steel manufacturer ArcelorMittal’s cancellation of its renewable hydrogen-based decarbonisation plans for two steel plants. A spokesperson for the ministry told ICIS on 3 July that BMWE regrets ArcelorMittal’s […]

HOUSTON (ICIS)–The US Department of Agriculture (USDA) said in the July World Agricultural Supply and Demand Estimate (WASDE) report that the outlook for corn is for lower production and ending stocks, while soybeans will have slightly reduced production and exports but have increased ending stocks. For the corn crop beginning stocks are decreased by 25 […]

TORONTO (ICIS)–Pembina Pipeline does not expect material near-term impacts from the US tariffs or from the delay of Dow’s Path2Zero petrochemicals project in Alberta province, the top executives of the Canadian midstream energy company told analysts in an update on Friday. TARIFFS Given the “highly contracted” take-or-pay nature of Pembina’s energy business, there should be no material […]