Reliance, BP to jointly set up 2,000 petrol pumps in India

Reliance, BP to jointly set up 2,000 petrol pumps in India

BP Plc and Reliance Industries Ltd (RIL) are planning to jointly set up as many as 2,000 petrol pumps in India over the next three years, according to two people aware of the development. The exact arrangement of the venture is being worked out and would be decided in a few months, a Reliance executive, one of the two people cited above, said on condition of anonymity. While Reliance already independently runs 1,343 petrol pumps, BP received a licence to set up 3,500 fuel retail outlets in India in October 2016. India is one of the few major global markets where fuel demand is growing and has attracted attention from foreign fuel retailers seeking to gain a toehold in a country where fuel retailing is dominated by state-run companies. Read More

Brenntag Specialties Inc, part of Brenntag Group has collaborated with Kaneka Corporation for the distribution of the Kaneka Surfactin line in US. The Kaneka Surfactin line reduces the use of other surfactants and acts as an inhibitor for acne bacterial growth. In addition, this line is suitable for sensitive skin and is compatible with various alcohols and cationic ingredients. The line includes: 1. Kaneka Surfactin – 100 percent natural, easily biodegradable, and highly sustainable product 2. Kaneka Premixed SQ401 – a pre-blend gel used for gelling oil and emulsification 3.Kaneka Premixed TC301 – a pre-blend gel used for gelling oil and emulsification. Read More

Arsenal acquires speciality polymers firm Polytek

Arsenal Capital Partners has acquired Polytek Development Corp, from Morgenthaler Private Equity. Headquartered in Easton, US, Polytek is a leading manufacturer of liquid mould rubbers and casting plastics. Polytek’s proprietary speciality polymers are used by customers to create flexible moulds to reproduce highly-detailed, complex objects for a variety of industrial and consumer applications, including concrete casting, special effects, tooling, sculpture, and prototyping. Arsenal brings significant experience investing in the global polymers market, having previously built Accella Performance Materials, a polyurethanes systems company.Read More

Kraton Corporation has declared a force majeure on certain products as a direct result of the effects of Hurricane Michael on its Florida facility. These products include terpene and terpene-related products, North America rosin esters dispersions and North America distilled tall oils. The company is continuing to assess Hurricane Michael’s impact on its ability to manufacture and deliver products but at this point in time the Panama City, Florida facility is not operational. It is taking all reasonable and diligent measures to mitigate the impact of this hurricane on its operations and on its customers, consistent with Kraton’s commitment to safety. Read More