Toyota Tsusho America, a subsidiary of Toyota Tsusho Corp., has completed the acquisition of Radius Recycling, a North American recycling company with a network of over 100 locations. This acquisition contributes to Toyota Tsusho's strategic goals of promoting a circular economy focused on recycling within the automobile life cycle, moving toward carbon neutrality, and providing long-term value to various stakeholders. Naoyuki Hata, president and CEO of Toyota Tsusho America, highlighted that...

Energy Exploration Technologies Inc. (EnergyX), supported by General Motors, has entered a binding conditional agreement to acquire Daytona Lithium Pty. Ltd. from Pantera Lithium Ltd. for A$40 million. Daytona Lithium possesses 35,000 gross acres on the Arkansas side of the Smackover formation, which EnergyX regards as a promising lithium region in North America. EnergyX, based in San Juan, Puerto Rico, holds 12,500 acres on the Texas side and announced Project Lonestar in the Arkansas-Louisiana...

Gabriel India Ltd. will invest 268.3 million rupees (about $3.1 million) to acquire a 51% stake in Jinhap Automotive India Private Ltd. (JAIPL), forming a joint venture with South Korea's Jinos Co. Ltd., Autocar Professional reported July 9. The decision was made during Gabriel India's board meeting on July 9 to manufacture fasteners for the automotive and industrial sectors. With this investment, JAIPL will become a subsidiary of Gabriel India, while Jinos will retain a 49% stake. ...

Bridgestone Corp. has reached an agreement to sell the carbon black business in Thailand, operated by the wholly owned subsidiary Bridgestone Carbon Black (Thailand) Co. Ltd., to Tokai Carbon Co. Ltd. and Thai Tokai Carbon Product Co. Ltd. According to the Japanese tiremaker, the divestment is its strategy to enhance its global business by “turning changes into opportunities” and focusing on “growth with quality.” Bridgestone aimed to improve its premium tire business by increa...

ArcelorMittal has completed the acquisition of Nippon Steel Corp.'s 50% equity stake in AM/NS Calvert, with ArcelorMittal already owning the remaining portion. The facility, now known as ArcelorMittal Calvert, was initially purchased by ArcelorMittal and Nippon Steel Corp. in 2014 from ThyssenKrupp for $1.55 billion, with the plant originally built at a cost of $5 billion and commencing operations in 2010. It holds a steel capacity of 5.3 million metric metric tons annually and is considered one...

Nippon Steel Corp. and United States Steel Corp. have finalized a significant partnership, concluding an 18-month process marked by political scrutiny and national security considerations. Under the terms of the $14.9 billion agreement, Nippon Steel has acquired all outstanding shares of U.S. Steel at $55 per share, while U.S. Steel will retain its iconic name and headquarters in Pittsburgh, Pennsylvania. The steel produced will continue to be “mined, melted and made” in the US, pr...

On May 23, US President Donald Trump announced a partnership between US Steel and Nippon Steel without explicitly endorsing the previously announced takeover of the US-based steelmaker by the Japanese rival. “I am proud to announce that, after much consideration and negotiation, US Steel remains in America and keeps its headquarters in the great city of Pittsburgh,” Trump said on his Truth Social platform. “My tariff policies will ensure that stee...

Goodyear Tire & Rubber has reached a definitive agreement to sell the majority of its Goodyear Chemical business to Gemspring Capital Management. Goodyear Chemical specializes in the production and supply of synthetic rubber with a broad product portfolio that serves the automotive aftermarket and consumer and industrial markets in North America. This sale aligns with the strategic review of Goodyear's Chemical business as part of the Goodyear Forward transformation plan....

Global Technologies has completed the acquisition of 100% of Novares Group, a France-based supplier of automotive plastic parts, from its previous owners — Equistone, Bpi France and other minority shareholders. This acquisition marks a significant milestone for Novares, which is expected to enhance its position in the automotive market. Novares specializes in automotive exteriors and interior parts as well as powertrain, including electric powertrain components. The company said one in ever...

Specialty chemicals company Lanxess has successfully completed the sale of its Urethane Systems business to Japan-based chemical product manufacturer UBE Corp. This transaction, which was first announced in October 2024, received approval from all relevant antitrust authorities. The company received gross cash proceeds of approximately €500 million from the sale, with the enterprise value of the deal being pegged at €460 million. Lanxess’ Urethane Systems business special...

Tata AutoComp Systems has announced it will acquire International Automotive Components Group Sweden AB (IAC Sweden), in a bid to strengthen its presence in Europe's automotive sector. The company, however, did not disclose any financial details. IAC Sweden has a turnover of approximately $800 million and is a well-established manufacturer of interior systems and components to the automotive industry. The transaction is subject to European regulatory approvals, according to Tata AutoComp. "This ...

The board of directors of Indian auto components supplier Sandhar Technologies has approved the acquisition of the high-pressure and low-pressure aluminum die-casting businesses of Sundaram-Clayton Ltd. (SCL) at its Hosur, India, plant. The acquisition was made through Sandhar Ascast Pvt. Ltd., a wholly owned subsidiary of Sandhar Technologies, through a slump sale. In February, the SCL board decided to sell its aluminum die-casting businesses at its Hosur plant. The operations approved ...

Jay Bharat Maruti Ltd. (JBML) has increased its ownership in JBM Ogihara Die-Tech (P) Ltd. (JODT) from 39% to 49% by buying additional equity from its joint venture partner, Ogihara Thailand Co. Ltd. (OTC). This strategic move is aimed at strengthening JBML's production capabilities, particularly in the production of high-tensile and critical body-in-white (BIW) dies. JODT, a JV between JBML, JBM Auto Ltd. and OTC, specializes in the production and selling of press-stamping dies.  ...

Automotive supplier Sundaram-Clayton Ltd. (SCL) has decided to sell its aluminum die-casting businesses at its Hosur plant in Tamil Nadu, India. This decision was taken by SCL’s board of directors on Feb. 19, with the intention to divest both high-pressure and low-pressure aluminum die-casting operations. The specifics of the deal, including the buyer's identity and the sale consideration, are yet to be determined. The completion of any transaction is contingent upon receiving necessary regula...

Atlas Holdings has reached an agreement to acquire SRG Global, a major supplier of decorative trim systems for the automotive market, through an affiliate. The specifics of the financial aspects of the deal were not disclosed, but the transaction is expected to be finalized by early 2025, pending the fulfillment of standard closing conditions and obtaining regulatory approval. SRG Global, with its headquarters in Troy, Michigan, operates manufacturing sites across North America, Western and C...

The European Commission has approved the acquisition of REHAU Automotive by the US-based private equity firm Atlas Holdings. In October 2024, Switzerland-based REHAU Group entered a definitive agreement to sell REHAU Automotive to Atlas. The transaction is expected to be completed by the end of the first quarter of 2025. REHAU Automotive supplies vehicle exterior products including bumper and polymer functional systems. The company operates at 25 locations in nine countries, employing 7,000 p...

Italy-based sealing solutions suppliers Argomm Group and Gapi Group have agreed to merge their businesses. The merger, scheduled to be completed in June 2025, is expected to help the Italy-based companies expand their range of products and services, optimize operational synergies, improve efficiency, and strengthen their global presence. The proposed merger will create a key player in the sealing systems business in Europe with a consolidated turnover of €220 million and 1,745 employees. Th...

US President Joe Biden has blocked the $14.9 billion acquisition of U.S. Steel by Nippon Steel, Japan's fourth-largest steelmaker, citing national security reasons. The decision comes after a yearlong review process and considerable political opposition in the US, including from Biden and President-elect Donald Trump during the presidential election campaign. U.S. Steel, once a dominant force in the American steel industry and now the third-largest steelmaker in the US, and Nippon Steel criti...

Sriram Pistons & Rings Ltd. (SPRL), an automotive supplier based in India, has announced plans to acquire 100% shareholdings in TGPEL Precision Engineering Ltd. through its wholly owned subsidiary SPR Engineering Ltd. at an enterprise value of 2.2 billion Indian rupees (about $25.9 million), The Economic Times reported Dec. 10. The acquisition is expected to strengthen SPRL's position in the manufacturing of high-precision injection-molded components. The deal is expected to be completed by ...

Norge Mining, an Anglo-Norwegian company known for its significant resources of critical raw materials in southwest Norway, has announced its acquisition of Skaland Graphite AS, Europe's largest natural graphite producer, from Mineral Commodities Ltd. (MRC), an Australian mining company. The acquisition, which includes transferring 100% of Skaland to Norge Mining on a cash and debt-free basis, is slated for completion in the first quarter of 2025, pending customary closing conditions and re...

Hinduja Tech Ltd., a subsidiary of Ashok Leyland, specializing in global engineering and research and development technology focused on mobility, has announced its acquisition of the Tecosim Group, a leading European engineering services provider. This strategic move is aimed at expanding Hinduja Tech's presence in the European market and is a significant step toward achieving its goal of being among the top-10 global mobility engineering and R&D companies. The acquisition underscores Hin...

Toshiba Corp. has announced its plan to sell its wholly owned subsidiary Toshiba Materials to Niterra, a Japan-based supplier of ceramic products. The two companies signed a share transfer agreement with the aim to complete the transfer by May 30, 2025. Toshiba Materials, rooted in Toshiba's Specialty Materials division, is engaged in the development, manufacture and sales of various advanced materials and products including fine ceramics, high-purity metals and special alloys, amon...

Aisin Corp. signed a memorandum of understanding (MOU) on Oct. 31 to merge its consolidated subsidiary Aisin Chemical into its operations. Aisin Chemical specializes in the development, manufacturing and sale of chemical products, friction materials and plastic parts for vehicles. Aisin Chemical will repurchase all of its shares held by companies other than Aisin as treasury stock, and then merge with Aisin. The planned merger is scheduled to become effective from April 1, 2025. Thi...

Piedmont Lithium Inc., a significant North American supplier of lithium products for the US electric vehicle supply chain, has entered into a definitive agreement with Sayona Mining Ltd. to merge the two companies, creating a leading lithium business with Sayona becoming the parent entity, termed MergeCo. The equity holdings post-transaction will be evenly split between Piedmont and Sayona shareholders on a fully diluted basis. To support this merger, Piedmont plans to raise approximately $27...

Eramet has successfully reacquired full ownership of its Argentinian subsidiary, Eramine Sudamerica, resulting in the complete ownership of the Centenario lithium project in Argentina, from Tsingshan Group, which previously held a 49.9% interest. This purchase, costing Eramet a net cash impact of $699 million, will see the group utilizing its available liquidity and will increase the group's net debt by the same amount. This move is aimed at giving Eramet unrestricted control and benefit from...

ArcelorMittal has announced a definitive agreement with Nippon Steel Corp. (NSC) to purchase NSC's 50% equity interest in the AM/NSC Calvert joint venture. This step comes as a result of NSC's request, aiming to alleviate regulatory concerns arising from its planned acquisition of US Steel. The completion of this transaction is contingent on NSC successfully acquiring US Steel, a process that is still subject to several regulatory approvals. Under the terms of the agreement, ArcelorMittal wil...

Covestro AG has entered into an investment agreement with entities of the Adnoc Group, including Adnoc International Ltd. and its subsidiary, Adnoc International Germany Holding AG. Under the agreement, Adnoc International Germany Holding AG is set to make a public takeover offer for all outstanding shares of Covestro at €62 per share. The transaction, valuing Covestro at approximately €11.7 billion, includes a 10% share capital increase by Covestro, resulting in €1.17 billion proceeds ...

Rio Tinto, a British-Australian multinational metals and mining giant, is in talks to buy lithium producer Arcadium, as it is looking to use the opportunity following a slump in lithium prices, according to a news report published by Reuters on Oct. 7. The deal could accelerate Rio Tinto’s rise to become one of the largest lithium producers worldwide, only behind Albemarle and SQM. Reuters had earlier reported that the companies had been holding talks and that Arcadium could be valued fr...

Alcoa, a leading global industry entity in bauxite, alumina and aluminum products, has reached an agreement to sell its 25.1% stake in the Ma'aden Joint Venture to the Saudi Arabian Mining Co. (Ma'aden) for a total of approximately $1.1 billion. This transaction comprises around 86 million shares of Ma'aden, valued at $950 million, and $150 million in cash. The completion of this transaction is contingent upon regulatory approvals, the endorsement of Ma'aden's shareholders and other stan...

Pilbara Minerals Ltd. and Latin Resources Ltd. have announced a binding Scheme Implementation Agreement where Pilbara Minerals will acquire all shares of Latin Resources through a court-approved scheme of arrangement. The transaction is viewed as mutually beneficial, with Pilbara Minerals acquiring the Salinas Lithium Project in Brazil, which is expected to significantly enhance its mining capabilities and offer Latin Resources' shareholders immediate premium and exposure to lithium product...

Toyota Boshoku Corp. has announced that it will accept a capital investment from Aunde Achter & Ebels GmbH in its consolidated subsidiary, TB Kawashima Co. Ltd., in a press release dated March 28. As a result, Toyota Boshoku's voting rights ratio in TB Kawashima will decrease to 20%, and TB Kawashima will become an equity method affiliate company. The investment is expected to strengthen TB Kawashima's competitiveness and enhance its new product development capabilities. Aunde, which has ...

On March 19, Samvardhana Motherson International Ltd. announced that its subsidiary MSSL Mideast (FZE) will acquire 100% of Yachiyo’s Indian unit, Yachiyo India Manufacturing Pvt. Ltd. Subject to completion of other ongoing conditions precedents for the transaction, the closing is now expected to be completed within March. The current transaction is part of an existing agreement between Motherson and Honda Motor. In July 2023, Samvardhana Motherson entered into an agreement to acquire 81% s...

Japan's Nippon Steel has clinched a deal to buy US Steel for $14.9 billion in an auction, which also saw participation from competitors such as including Cleveland-Cliffs, ArcelorMittal and Nucor, according to a news report published by Reuters on December 19. Citing people familiar with the deal, the report said that in a meeting of its board of directors on Sunday, US Steel deemed Nippon's offer superior to a sale to Cleveland-Cliffs, which had raised its bid in the high $40-per-share range...

Auto components major Samvardhana Motherson International Ltd. (SAMIL) on Dec. 15 announced acquisitions of Australia's Lumen Group and Switzerland's Deltacarb SA for nearly 5.75 billion Indian rupees (about US$469 million), Business Standard reported Dec. 15. The company's board approved the two acquisitions by its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV, SAMIL said in separate regulatory filings. Lumen Group comprises Lumen Australia Pty. Ltd., Lumen Internatio...

Borealis has acquired Rialti, an Italian polypropylene (PP) compounder of recyclates, it said in a press release dated Nov. 2. The acquisition enhances Borealis' portfolio of PP compounds based on mechanical recyclates by 50,000 metric tons per year, strengthening its ability to meet customer demand for sustainable, high-performance solutions. The acquisition will strengthen Borealis' specialty and circular portfolios. Rialti uses its annual capacity of 50,000 metric tons to make injection mo...

BASF has agreed to divest its Neopolen expanded polypropylene (EPP) business to Knauf Industries GmbH, Plastics Today reported October 8. The transaction includes the production plant at BASF's Schwarzheide site in Germany, along with the associated products, intellectual property, customer and supplier contracts, and trademark rights. Neopolen enables the production of lightweight molded parts for the automotive and heating and air conditioning industries. Knauf Industries is manufacturer of...

Michelin has completed the acquisition of Flex Composite Group (FCG), it said in a press release dated September 27. The enterprise value at the time of the initial announcement in June was €700 million. The acquisition will boost the group toward developing its polymer composites activities. FCG works on a wide range of polymer composite solutions, adjacent to those already developed by Michelin. It has 400 employees and primarily operates in Europe. The acquisition will boost Michelin�...

Due to declining demand from top customers such as Hyundai and Kia, along with a flood of Chinese-made products, Hyundai Steel Co. has decided to close its stainless steel-making plant in Incheon, South Korea, a report in The Korea Economic Daily said on September 20.  The paper further said the steelmaker recently informed its labor union of the decision, quoting sources. The company will transfer the Incheon factory employees to other plants after shutting down the plant at t...

ABC Technologies has entered into an agreement to acquire an automotive business of Plastikon Industries, it said in a press release dated August 23. The acquisition cost is $130 million, with the transaction expected to close in the third calendar quarter of 2023. “Welcoming Plastikon Automotive into ABC Technologies will represent a significant step forward for our company. It amplifies our position as an industry leader in lightweighting and plastic injection molding, gives ABC a stronge...

French automotive supplier Valeo Group announced August 18 that as part of its decision to divest its production activities in Russia, it has signed an agreement with NPK Avtopribor for the sale of all Valeo's production assets of its Powertrain Systems business in Russia. The company said completion of this transaction is subject to obtaining the necessary regulatory approvals. It will enable the 158 Russian employees in the business to keep their jobs. This sale will be carried ou...

German chemical producer BASF announced July 28 that it has completed the spin-off process of its mobile emissions catalysts and precious metal services businesses. The company said that it has named the newly formed separate legal entity as BASF Environmental Catalyst and Metal Solutions (ECMS). BASF’s intention to carve out the entity was first announced in December 2021 with an expected completion timeframe of 18 months. Commenting on the development, Markus Kamieth, member of the boa...

Ramkrishna Forgings has approved an investment to acquire Multitech Auto, its unit Mal Metalliks and Mal Auto Products, it said in a press release dated July 21. Multitech Auto and Mal Metalliks manufacture assembly-top covers, shift cylinders, assembly gears, differential cases, differential covers, types of hubs, crank cases, king pins, cotter pins, spring pins, shifter shafts, steering spindles, falcrum pins and rollers for heavy-commercial vehicle brakes. “The strategic acquisition...

Samvardhana Motherson has announced that its unit Samvardhana Motherson Automotive Systems Group is set to acquire the assets and shares of the German entities of Dr. Schneider Holding, according to a company press release dated July 24. Dr. Schneider Group is a manufacturer of innovative, high-end interior components. The overall enterprise value of the deal is about €118.3 million. Dr. Schneider Holding has seven facilities in five countries and employs around 4,500 people. “We have bee...

SJS Enterprises has completed the acquisition of 90.1% stake in Walter Pack Automotive Products India, CNBC-TV18 reported July 4. The consideration for the deal is 2.39 billion rupees (about $29 million). Consequently, Walter Pack has become a subsidiary of SJS. SJS acquired 85% stake from Walter Pack Spain and 5.1% shares from Indian promoter and founder, Roy Mathew, whose shareholding will remain at 9.9%. Significance: This acquisition laid the groundwork for a strategic c...

Pirelli has reported an agreement to acquire 100% of Brazil-based Hevea-Tec, according to a press release dated July 4. The target company processes natural rubber. The cost of acquisition will be around €21 million with the tire company looking to tie it up by end of 2023. Significance: Pirelli, with the acquisition of Hevea-Tec, will increase its supply of natural rubber in Latin America. It will ensure continuity of provision in the region and increase efficiency. The company already has...

Samvardhana Motherson International announced that it has entered into an agreement to acquire 81% stake in Yachiyo’s 4W (Y4W) Business, in a press release dated July 4. The acquisition will be done through Motherson’s subsidiary SMRP. Motherson will form an 81:19 strategic partnership with Honda Motor. According to the filing, the equity value of 100% of the enterprise is around $160 million. Significance: As a part of this transaction, Honda Motor will first buy out the entire public st...

Michelin is set to wholly acquire Flex Composite Group (FCG) for an enterprise value of €700 million, according to a company press release June 19. The acquisition of FCG is expected to grow Michelin’s High-Tech Materials revenue by around 20%. The transaction would be earnings before interests and taxes margin-accretive for Michelin at group level. “This operation draws on the best of both companies, in particular on our shared expertise in polymer composite solutions. We are aimi...

Samvardhana Motherson Automotive Systems Group has acquired the assets of Alabama-based Bolta US, it said in a press statement on April 18. The acquisition will be done through SMP Automotive Systems Alabama Inc., USA, an indirect wholly owned subsidiary of the company. SMP Alabama has bought $35.7 million worth of fixed assets (including $31.8 million of tangible assets and $3.9 million of intangible assets) and $4.7 million of inventory for around $16 million. Significance: Samvardhana M...

Autoneum announced that it has completed the acquisition of the automotive business of Borgers, in a press release dated April 3. The agreement was initially announced in January 2023. Following the acquisition, Autoneum will operate 67 production facilities and employ around 16,100 people in 24 countries. Autoneum also announced its shareholders have approved the creation of a capital band to raise around CHF100 million for the long-term financing of the acquisition. “Borgers Automoti...

NanoXplore and Martinrea International have jointly announced NanoXplore’s purchase of Martinrea Innovation’s 50% equity stake in VoltaXplore joint venture for C$10 million, according to a March 27 press release. Following the acquisition, NanoXplore owns 100% of the equity and intellectual property in VoltaXplore. Martinrea has increased its existing stake in NanoXplore to 22.7% from 21.1%. NanoXplore will seek to finance its battery gigafactory within VoltaXplore. “We have joi...

According to a report published by The Economic Times on March 20, Uno Minda said that its board has approved the acquisition of a 81.69% stake in Kosei Minda Aluminium and a 49.90% stake in Kosei Minda Mould from JV partner Kosei, Japan. The move will help the company consolidate its 4-wheel (4W) alloy business. The acquisition is anticipated to take place through a scheme of a merger with Uno Minda Ltd. involving an exchange of shares. According to the statement, the enterprise valu...

Martinrea International, a global automotive supplier engaged in the design, development, and manufacturing of highly engineered, value-added lightweight structures and propulsion systems, has announced the acquisition of the assets of Montreal-based Effenco Development Inc., which were acquired in 2022, according to a press release on 27 February 2023. Effenco is a green-tech business that designs, manufactures and markets technologies for the electrification and connectivity of heavy-duty v...

Lumax Auto Technologies has signed an agreement to acquire majority stake in IAC International Automotive India Pvt. Ltd, from the International Automotive Components Group (IAC Group), it said in a press release on 20 February. The acquisition is valued at INR5.87 billion (USD103.4 million). Following the acquisition, IAC will continue to hold a 25% stake. The remaining 75% stake will be bought through a special acquisition vehicle at INR4.40 billion, which will be paid in cash funded by deb...

ABC Technologies, a manufacturer and supplier of plastics and lightweighting, has announced that it has entered into a definitive agreement to acquire WMG Technologies (WMGT) from the Bierer family for USD165 million with potential earn-out payments that may become payable upon the achievement of specified profitability targets over the next 24 months, according to a press release on 22 December 2022. The Company plans to withdraw from its Credit Facilities to pay for the Initial Close (as he...

HELLA has completed the exit from the joint venture HBPO Beteiligungsgesellschaft, it said in a press release dated 12 December. Following approval from the authorities, 33.33% share in the joint venture has been successfully transferred to the previous coshareholder Plastic Omnium. The purchase price amounts to EUR290 million (USD305 million), with a dividend of about EUR8 million. Significance: The deal was first announced in July this year. Plastic Omnium acquired AMLS on 25 March 2022 to ...

Global steelmaking giant ArcelorMittal announced via a press release on 6 December that it had acquired Dutch state-of-the-art ferrous scrap metal recycling business Riwald Recycling. According to the press release, Riwald currently processes 330,000 tons of ferrous scrap metal annually, sourced from OEMs, demolition companies, traders, car dismantling companies, and regional and national governments. The company also uses high-specification technical equipment in the separation of materials ...

Swedish polymer tech company Trelleborg announced via press release on 25 November that it had signed an agreement to acquire the automotive boots manufacturing business of India-based privately owned company Injectoplast to strengthen its own position in the global boots market. According to the press release, assets involved in the acquisition include a head office and a manufacturing center in the Indian state of Uttar Pradesh located strategically close to a light vehicle manufacturing cl...

US materials supplier Arconic announced via press release on 15 November that it had completed the sale of its Russian assets to Promyshlennye Investitsii OAO for USD230 million. Arconic CEO Tim Myers discussed the sale, stating, “The assets of our Russian business have been restricted since prior to our emergence as a standalone company in April 2020. Operating in Russia only became more difficult and our ability to operate going forward became increasingly uncertain in light of the curren...

US chemical company Celanese announced via press release on 1 November that it had completed the EUR11 billion (USD10.8 billion) acquisition of a majority of DuPont’s Mobility & Materials (M&M) business lines. According to the press release, the takeover of business lines involves acquisition of DuPont’s broad portfolio of engineered thermoplastics and elastomers, industry-renowned brands and intellectual property, and global production assets. Celanese CEO Lori Ryerkerk discus...

Malaysia-based automotive leather upholstery maker Pecca Group has announced that it signed a memorandum of understanding (MOU) with PT Gemilang Maju Kencana (GMK) to acquire 80% stake in GMK, The Star reported on 1 November. Foo Ken Nee, CEO, Pecca Group, said, "Indonesia is expected to be an important engine of growth for Pecca as it strives to enlarge its foreign presence in the automotive industry.” According to the report, Pecca is expected to invest IDR2.4 billion (USD157,714). ...

Belgian chemical company Solvay announced via press release on 10 October that it had taken full ownership of its Japanese rare earths company Solvay Special Chem Japan (SSCJ) that was held jointly with Japanese alloy manufacturing company Santoku.  According to the press release, the facility operated by the JV currently manufactures rare earths applicable for automotive emission control systems, the semiconductor manufacturing processes, and emerging technologies such as solid oxide fu...

Canadian chemical manufacturing company Neo Performance Materials announced via press release on 22 August that it had acquired an exploration license covering the Sarfartoq Carbonatite Complex in southwest Greenland from Canadian mining company Hudson Resources. According to the press release, Hudson will receive a nonrefundable initial cash payment of USD250,000 and an additional USD3.25 million (upon closing) for the Sarfartoq project that reportedly hosts mineral deposits enriched in...

Turkish textile manufacturing company Kordsa announced via a Material Event Disclosure that it had acquired a 60% stake in Italian composites manufacturer Microtex Composites for USD25 million (EUR24.6 million). According to a previous press release, the company stated that acquisition of Microtex Composites will allow the company to add super-luxury automotive and motorsport OEMs its customer portfolio. Significance: Microtex specializes in manufacturing dry and prepeg composite materials...

Webasto has announced that it acquired glass specialist Carlex Glass Luxembourg SA, it said in a press release on 18 August. Commenting on the acquisition, Dr. Holger Engelmann, Chairman of the Management Board of Webasto SE, said, “Investing in our own glass manufacturing facility is an important strategic step for us in strengthening the competitiveness of our top-selling business unit—and consequently of the entire Webasto Group.” According to press release, the site, which previo...

German chemical company Covestro announced via press release on 8 August the divestment of its additive manufacturing business to American-Israeli 3D printing company Stratasys. According to the press release, divestment of the 3D printing business will allow Stratasys to acquire: Covestro’s research and development facilities, production assets and offices in the Netherlands, Germany, the US and China Access to Covestro’s large network of partners globally Products from th...

Plastic Omnium has announced in a press release on 28 July that it has signed an agreement with HELLA to acquire remaining 33.33% stake of modules business HBPO GmbH for an equity value of EUR290 million (USD306.70 million) enabling Plastic Omnium with complete ownership.   Laurent Favre, CEO, Compagnie Plastic Omnium SE, said, “The acquisition of the remaining 33.33% of HBPO will allow Plastic Omnium to implement its growth strategy by broadening the range of modules offered. Thanks t...

US Critical Metals Corp. (USCM) announced via press release on 26 July that its wholly owned subsidiary US Energy Metals Corp. will invest in US rare earth projects currently held by US Critical Materials Corp. (Materials Corp). According to the press release, USCM will acquire the right to a 50% equity in US Rare Elements Corp. (USRE), a new entity created to hold a 100% interest in the Sheep Creek Property in Ravalli County, Montana (Sheep and the Lemhi Pass Trail Property in Lemhi County, ...

Dutch performance coatings company AkzoNobel announced via press release on 6 July that it had decided to acquire the wheel liquid coatings business of German coatings company Lankwitzer Lackfabrik GmbH. According to the press release, the acquisition would involve Lankwitzer Lackfabrik’s existing coatings facility in Leipzig, Germany and operates laboratories in Germany (Leipzig) and Türkiye. AkzoNobel CEO Michael Friede stated, “Acquiring this attractive business will complement our...

The Financial Times reported on 12 July that Chinese lithium producer Ganfeng Lithium had agreed to buy Argentina-focused mining group Lithea and its existing lithium assets for USD962 million. According to the press release, the acquisition involves rights to the Pozuelos and Paston Grandes salt lake brines located in the Saltas province in Argentina. Lithea was previously owned by Canadian company LSC Lithium Corporation that in turn was owned by Dutch energy company Pluspetrol Reso...

POSCO Group has announced that the company acquired silicon anode materials startup Tera Technos with an investment of KRW47.8 billion (USD36.79 million), Green Car Congress reported on 9 July. According to the report, traditional silicon anode materials degrade owing to volume expansion during charge and discharge cycles, but Tera Technos' silicon oxide (SiOx) is a nano-mixture structure that minimizes volume expansion and fracture, ensuring battery capacity and stability. Additionally, the ...

Chinese company Zijin announced via a stock exchange release on 29 June that it had entered into an equity transfer agreement worth USD269 million (CNY1.8 billion) to acquire a 71.14% stake in Chinese mining company Houdao mining. According to the release, the investment was primarily driven for access by the Xiangyuan Lithium Polymetallic Mine in Dao County, Hunan Province, held currently by Houdao. The mine in question is a large-scale greisen-type low-grade lithium deposit that c...

Canadian nanotechnology research company Meta Materials announced via press release on 17 June that it had signed a definitive agreement to acquire the assets and intellectual property (IP) of American nanocomposites company Optodot. The USD48.5 million acquisition amount comprises of USD3.5 million in cash and USD45 million of META shares of common stock. Optodot specializes in developing high-safety nano-composite ceramic NPORE battery separators for the lithium-ion battery market. Ac...

Australian mining company Marquee Resources (MQR) announced via press release on 2 June that it had entered into a partnership with Mineral Resources Limited (MinRes) regarding the rights to its West Spargoville lithium project (WSP) in Western Australia. According to the press release, the agreement provides MinRes the right to acquire an initial 25% interest in lithium rights in exchange for funding (AUD1 million) USD720,000 for exploration and development activities at the site. Th...

German specialty chemicals company Lanxess announced via press release on 31 May that it would be partnering with US private equity investment company Advent to form a engineering polymers joint venture (JV) company that will acquire Dutch Corporation DSM’s Engineering Materials business. According to the release, the new JV, held 60:40 between Advent and Lanxess, will acquire the DSM Engineering Materials (DEM) business for USD4 billion (EUR3.7 billion) via equity from Advent and external ...

UK specialty chemicals company Johnson Matthey (JM) announced via a press release on 26 May that it had sold the bulk of its Battery Materials business to Australian materials company EV Metals Group for USD63 million (GBP50 million) in cash. According to the press release, the sale includes: Company assets at the Battery Technology Centre in Oxford A pilot plant in Billingham A research center in Moosburg, Germany A partly constructed site in Konin, Poland Johnson Matthey�...

Canadian battery materials company Nano One Materials Corporation has signed a binding agreement to acquire Johnson Matthey Canadian entity, Johnson Matthey Battery Materials (JMBM Canada) for about CAD10.25 million (close to USD8 million), the London-based multinational company said on 25 May 2022. The acquisition, it said, is fully funded and is on a cash-free, debt-free basis and the transaction is expected to complete by end 2022. According to Johnson Matthey, JMBM Canada employs a team w...

US steel manufacturer Steel Dynamics announced via press release on 16 May that it had entered into a definitive agreement to acquire Mexican ferrous and nonferrous scrap metals recycling company ROCA. According to the press release, the acquisition will allow Steel Dynamics to acquire 4 scrap processing facilities (with a total annual processing capability of 850,000 tons and shipment capacity of 575,000 tons) strategically positioned near high-volume industrial scrap sources located through...

North American mining company Northern Graphite announced via press release on 2 May that it had closed its acquisition of the Lac des Iles graphite mine (“LDI”) in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. According to the press release, the company purchased the Quebec mine from a subsidiary of French mining company Imerys SA and the Namibia site from a subsidiary of Imerys and its joint venture partner. According to Norther Graphite, the acquisit...

Australian battery minerals company Prospect Resources announced via press release on 20 April that it had sold its 87% interest in the Arcadia Lithium Project in Zimbabwe to a subsidiary of mainland Chinese lithium-ion (Li-ion) battery materials producer Zhejiang Huayou Cobalt. According to the press release, the transaction involves a cash transfer of approximately USD343 million after a payment of USD27 million as capital gains tax and USD8 million to mainland Chinese mining services compa...

Luxembourg-based steel company ArcelorMittal announced via press release on 14 April that it had signed an agreement to acquire an 80% shareholding in Austrian steel manufacturer voestalpine’s Hot Briquetted Iron (HBI) plant located in Corpus Christi, Texas, US. According to the press release, the transaction values the state-of-the-art plant, with an annual capacity of 2 million tons of HBI, a feedstock used in steel furnaces, at USD1 billion. Taking into account the expected debt developm...

Kongsberg Automotive has completed the sale of its Light Duty Cables (LDC) business unit to line cable manufacturer, Suprajit Engineering Limited, according to a press release on 6 April 2022. In October 2021, Kongsberg Automotive and Suprajit entered into a definitive agreement, and the deal closed on 6 April 2022 for EUR37.7 million (USD41.4 million). The LDC business unit of the company specializes in developing, manufacturing, and selling mechanical and electro-mechanical light-duty cable...

US specialty chemicals company PPG announced via press release on 1 April that it had completed its acquisition of Italian powder coatings manufacturing business, Arsonsisi. According to the press release, PPG will gain a highly automated, small- and large-batch capable, powder manufacturing plant in Verbania and metallic bonding capabilities in the Europe, Middle East, and Africa (EMEA) region through the acquisition. Significance: Arsonsisi’s powder business had sales of approximately ...

US synthetics manufacturing company Ascend Performance Materials announced via press release on 29 March that it had reached an agreement to acquire the compounding division of Indian engineered materials producer Formulated Polymers Limited (FPL). According to the press release, the deal, intended to expand Ascend’s footprint into the Indian subcontinent, includes FPL’s facility in Chennai as well as warehouses throughout India. Ascend’s president and CEO, Phil McDivitt, stated, “...

Canadian manufacturing company Linamar Corporation announced via press release on 31 March that it will be acquiring GF Casting Solution’s (GF) 50% interest in their joint venture, GF Linamar LLC, located in Mills River, North Carolina. According to the press release, Linamar will now assume 100% ownership of the business and full operational control of the facility. Linamar stated that following the transaction, the joint venture (JV) facility will undergo a rebranding name change and b...

Belgian multinational chemical company Solvay announced via press release on 15 March that it was reviewing plans to separate the company into two independent publicly traded companies, EssentialCo and SpecialtyCo, as a means towards sharping strategic focus. According to the press release, the move will allow the company to separate into two entities that can operate under different business operating models and focus on different targets and growth opportunities. The EssentialCo company ...

The Compound Company announced the acquisition of Exxelor polymer resins from ESSO Deutschland GmbH, ExxonMobil in Cologne, Germany, according to a press release published by The Compound Company on 1 March. The transaction include production site, product portfolio, and existing customer base of Exxelor. Frans Haafkens, major shareholder of The Compounding Company, said, “We are very excited to welcome the Exxelor manufacturing force and portfolio in our organization. The acquisition adds ...

ABC Technologies completes previously announced acquisition of Karl Etzel GmbH from the Schürrle family for around USD95 million, according to a press release published by ABC Technologies on 4 March. Significance: ABC technologies through the acquisition will leverage Etzel’s knowhow in injection molding plastics for automotive interior and exterior applications further growing ABC’s portfolio suite in the European market. The acquisition will enable ABC to attain higher diversification...

Japanese steel company Nippon Steel Corporation announced via press release on 21 January that it had decided to enter into a share purchase agreement to acquire 49.99% shares and 49.90% shares in Thai steel companies G Steel Public Company Limited and G J Steel Public Company Limited respectively. According to the press release, the two companies are the only two integrated steel production mills that produce hot-rolled steel sheets from electric arc furnaces in the country. Nippon is s...

Global chemical and specialty materials company, Celanese Corporation announced the signing of a definitive agreement to acquire most of the Mobility & Materials (M&M) business of DuPont for USD11 billion in, according to a company press release on 18 February. Lori Ryerkerk, chairman and CEO, Celanese Corporation, said, “The acquisition of the M&M business is an important strategic step forward and establishes Celanese as the preeminent global specialty materials company. For n...

Westlake Chemical Corporation acquires Hexion’s global epoxy business for USD1.2 billion in an all-cash transaction, the company announced in a press release on 2 February.  The epoxy business to be branded as Westlake Epoxy.    Westlake President and Chief Executive Officer Albert Chao, said, “With this transaction, Westlake will significantly expand its integrated business by adding a leading downstream portfolio of coatings and composite products. Light weighting is a cr...

SABIC purchases Clariant’s 50% stake for USD130 million in specialties company Scientific Design, which is currently a 50/50 joint venture (JV) with SABIC, the company announced in a press release on 2 February. SABIC Vice Chairman and CEO, Yousef Al-Benyan said, “Catalysts are the foundation of our business. The acquisition of Scientific Design will strengthen our non-cyclical technology-oriented specialty business and move us closer to our long-term goal of becoming a global Specia...

ABC Technologies Holdings announced a definitive agreement to acquire Karl Etzel GmbH from the Schürrle family for around USD95 million, the company said in a press release on 21 January. Etzel entails a strong foothold as a leading tier-1 and tier-2 supplier to luxury German OEM.    Todd Sheppelman, president and CEO of ABC Technologies, said, “The acquisition of Etzel will provide ABC the opportunity to meaningfully expand our scale in Europe while entering the interior product...

ABC Technologies announced that it had entered into a definitive agreement to acquire dlhBOWLES from Morgenthaler Private Equity (MPE Partners) for around USD255 million, the company said in a press release on 6 January.   Todd Sheppelman, president and CEO of ABC Technologies, said, “The acquisition of dlhBOWLES further solidifies ABC Technologies’ leadership position in the North American washer systems market, strengthening our product portfolio to better serve our global cus...

CCL Industries announces acquisition of automotive interior company McGavigan Holdings, a supplier of in-mould decorated components for vehicle interior applications. Geoffrey T. Martin, president and CEO of CCL Industries Inc., said, “We have known McGavigan and its key people for many years, and are very pleased to welcome the team to CCL, where they will continue to focus on innovative specialty product designs for automotive interiors. This acquisition significantly expands our pre...

Ohio-based flexible materials converter JBC Technologies announced via press release on 13 December that it had acquired Die Cut Technologies, an ISO-9001, TS-16940, and MIL-I-45208A certified converter located in Denver, Colorado. According to the press release, the acquisition will expand JBC’s capabilities and geographic footprint while adding its market presence in the medical, electronics, automotive, and aerospace sectors. According to JBC, acquiring Die Cut will augment its v...

Japanese tire manufacturer Bridgestone Corporation announced via press release on 1 December that the company had completed selling all shares of stock of its mainland Chinese synthetic rubber manufacturing subsidiary Bridgestone (Huizhou) Synthetic Rubber Co., Ltd. (BSRC) to Taiwanese petrochemical company LCY Chemical Corporation. According to the press release, the sale is part of the Japanese company’s global expense and cost structure review established in its mid-term business plan (2...

Swiss fineblanking and lamination stamping company Feintool announced via press release on 7 December that it had acquired German motor core manufacturer Kienle + Spiess from Japanese trading company Sumitomo Corporation. According to the press release, Feintool expects to significantly expand its electric sheet stamping business and position itself as one of Europe's leading manufacturers of motor cores for battery electric vehicles (BEV) and hybrids (HEV) with the acquisition. The comp...

Ohio metal manufacturing company Worthington announced via a press release on 1 December that its Steel Processing Unit has acquired motor and transformer lamination manufacturer Tempel Steel Company for USD255 million. According to the press release, the acquisition adds five manufacturing facilities located in Chicago, Canada, mainland China, India, and Mexico, as well as 1,500 employees to the company. According to Worthington CEO Andy Rose, “The addition of Tempel makes us ...

Global metals and mining company Rio Tinto has signed a binding agreement to acquire the Rincon lithium project in Argentina from Rincon Mining for USD825 million, the company announced on 21 December 2021. Rincon Mining is a company owned by funds managed by the private equity group Sentient Equity Partners. Rio Tinto said that the acquisition demonstrates its commitment to build its battery materials business and strengthen its portfolio for the global energy transition. Notably, Rincon ...

US performance materials company Cabot Corporation announced via press release on 15 November that it entered into a definitive agreement to acquire Tokai Carbon (Tianjin) Co., Ltd from Tokai Carbon group for USD9 million. According to the press release, Tokai’s carbon black manufacturing facility was commissioned in 2006 and is located in close proximity to Cabot’s current carbon black and specialty compounds facility in Tianjin. The acquisition is expected to support the growth of Cabot...