Global Chemical Giants Form Joint Venture

Two of the world's largest chemical companies have formed a joint venture to create a new entity that will produce specialty chemicals. BASF and LyondellBasell Industries have agreed to combine their respective specialty chemicals businesses to create a new company called ACHIEVE. The joint venture will combine BASF's plastic additives and catalysts businesses with LyondellBasell's performance elastomers and coatings businesses. The deal is expected to close in the first half of 2024, subject to regulatory approvals. ACHIEVE will have a significant presence in the global specialty chemicals market, with annual sales of approximately $3 billion. The new company will have production sites in several countries and will serve customers in a range of industries, including automotive, construction, packaging, and electronics.

 

 

-- Xiamen Ditai professional in Sodium Chlorate and chemicals