Need for Chemical Companies to go Digital
The chemical industry is vast with a plethora of industries that produce a wide range of products across many different sections. In the past, large chemical companies particularly the producers had monopoly over the market. These large companies focused on operational efficiency over adaptability and flexibility. Today, niche players dominate the market with their focus on consumer demand. These players have elicited incumbents to evolve through adoption of digital technology at the business core and at the same time manufacture small batches to cater to individual customer needs, selling services, experiences and outcomes.
A breakthrough by chemists at the University of Chicago may one day open possibilities for making chemicals from plants rather than oil, by creating a new method to crack certain tough carbon-to-carbon bonds. A great number of chemicals in the natural and industrial world have backbones made of carbon-on-carbon bonds. These are regularly carved up during processes to make new useful molecules. But a particular subset of these bonds is very stable—and thus difficult to crack open. Chemists would like to discover new ways to cut and rearrange such bonds; a library of such knowledge is key to finding valuable new chemicals or more efficient or greener ways to make known ones. Read More
Compass Minerals International Inc said that Fran Malecha has agreed to step down from his position as president and CEO, effective immediately. Dick Grant, lead independent director, will serve as chairman of the board and interim CEO until a permanent CEO is named. “Over the last several years, we have made progress toward building a balanced company for the future. The board remains committed to achieving best-in-class operational efficiency in our Salt business to maximize its cash generating capabilities and investing in our higher-growth, global Plant Nutrition business. We are now moving forward with a keen focus on execution in order to ensure we can drive value from these investments and deliver sustainable, long-term value creation for our shareholders,” said Dick Grant, chairman and interim CEO. Read More