13 Dec 2024
Perstorp acquires OQ Chemicals Nederland B.V.
Leading global specialty chemicals innovator Perstorp, a wholly-owned subsidiary of Malaysia’s PETRONAS Chemicals Group Berhad (PCG), today announced Perstorp Holding AB has acquired 100 percent of the shares of OQ Chemicals Nederland B.V. from OQ Chemicals GmbH. The deal provides Sweden-based Perstorp with full ownership and control over all of the Dutch company’s production assets, related technology and employees.
26 Nov 2024
Syensqo wins prestigious SPE innovation awards North America 2024
Syensqo, a global leader in advanced performance materials and chemical solutions, has won the Safety category at the 2024 SPE Innovation Awards North America. Recognized for its pioneering contribution to electric vehicle (EV) safety, the award-winning part is an advanced busbar cable support bracket, utilized in the 2025 Cadillac CELESTIQ, a flagship EV in General Motors’ lineup.
SONGWON Industrial Group today published its Q3 financial results for 2024. During the quarter, SONGWON achieved consolidated sales of 285,779 Million KRW and reported a net profit of 11,492 Million KRW. When compared to the sales (Q3/2023: 247,867 Million KRW) and net profit (Q3/2023: 9,372 Million KRW) recorded in the previous year, this marked an increase of 15.3% and 22.6% respectively. For Q3/2024, SONGWON reported a gross profit margin of 17.6%, an increase of 2.9%-points from Q3/2023 (14.7%).
Industry demand for lightweight materials that have properties comparable to those of conventional materials in their specific application environments has been increasing by leaps and bounds in recent years. The replacement of conventional thermoplastic elastomers (TPEs) by Lightweight TPEs with recycled content plays a central role here. Lightweight TPEs provide wide-ranging options and unique materials parameters.
By developing Recycling Content TPE with excellent adhesion to PA, Hilti and KRAIBURG TPE have now successfully expanded their partnership to also include projects with focus on sustainability. The starting point for expanding a more than two decades long collaboration was the increasing emphasis that both companies put on the expansion of sustainable strategies and initiatives – especially where these can be incorporated into the development of new products and product components on a larger scale. As part of the Supplier Recognition Model, KRAIBURG TPE also receives the “Distinguished Honors – Special Products” award from Hilti.
Syensqo, previously part of Solvay Group and a leader in advanced performance materials and chemical solutions, is proud to announce that its innovative Ajedium™ PEEK e-motor slot liners have been named a finalist for the 2025 Automotive News PACE pilot Awards.