Page 153 - CW E-Magazine (25-2-2025)

Meetings & Conferences News from Abroad

8-10 | Amsterdam, Netherlands October 2025 November 2025 SHAREHOLDER PRESSURE
In-cosmetics Global 2025 8-15 | Düsseldorf, Germany 12-13 | Cologne, Gremany
: Pallavi Oak K 2025 Sustainable Chemicals Conference & Activist investor pushes Phillips 66 to separate
 : +91 22 67716607 International trade fair for the plastics Expo midstream unit
: +91 9987385741 and rubber industry Trans-World Events Ltd.
: In-cosmetics.com/global/en-gb.html Messe Düsseldorf GmbH  : +44 1483 330 018 Activist investor Elliott Investment mended that Phillips 66 consider divest-
 : +49 0 211/4560-7611  : Info@trans-worldevents.com Management LP has built up a more ing non-essential assets such as CPChem
May 2025  : Info@messe-duesseldorf.de : Sustaiablechemicals-expo.com than $2.5-bn stake in American energy and certain European retail operations in
7-8 | New Jersey, USA : Online.com/en firm, Phillips 66, and pressing it to nar- order to increase shareholder value and
row its focus on downstream refining
be able to concentrate more fully on its
15th ICIS World Surfactants June 2027 and spinoff off or sell its midstream core refinery business. Chevron Phillips
Conference 14-16 | Shanghai, China 14-18 | Frankfurt, Germany business segment to help boost its stock Chemical (CPChem) is a joint venture
ICIS ACHEMASIA 2025 ACHEMA 2027 price. between Chevron USA Inc. and Phillips
: Nicol Lange DECHEMA Ausstellungs-GmbH DECHEMA Ausstellungs-GmbH 66 that was created in July 2000. In
 : +44 (0)20 7911 1393  : +49 69 7564-100/+49 69 7564-750  : +49 69 7564-100/69 7564-750 While Phillips 66 is primarily an oil addition, Elliott wants Phillips 66 to add
 : Nicol.lange@icis.com  : Visitor@dechema.de  : Visitor@dechema.de refiner, its midstream business – mainly one of the top five investors in Phillips new independent directors to its board.
involved in transporting and storing 66. Last year, Elliott disclosed a $1-bn
: Events.icis.com/ehome/worldsur : Achemasia.de/en : Achema.de/en/ crude, natural gas & refined products – stake in Phillips 66, following which Elliott has a long history of activism.
factants/home generates about half of the income that the company laid out a performance Recently Honeywell, one of the last
its refining segment does. In a letter improvement plan to boost shareholder remaining US industrial conglomerates,
July 2025 to Phillips 66’s board, Elliott said it returns and share price. However, Elliott announced it will split into three inde-

29-31 | Jakarta – Indonesia INDIA believes the company could get more said the plan “failed to materialise, and it pendent companies. The news came
than $60-bn for its midstream business. has become evident that urgent changes after Elliott revealed a stake of more than
Inacoating “This standout business should sepa- are needed” adding that the company’s $5-bn in the aerospace, automation
GEM Indonesia rate from a corporate structure that both shares have lagged that of rival refiners. and materials company and pushed for
: Relyana diminishes and obscures its value,” Honeywell to separate its automation
 : Relyana@gemisen-group.com Elliott wrote. Its investment makes it The hedge fund has now also recom- and aerospace businesses.
: +62-21 5435 8118 STRENGTHENING PRESENCE
: Inacoating-exhibition.net
Nouryon opens office in Saudi Arabia
29-31 | Jakarta – Indonesia R R
Nouryon, the Dutch speciality
Chemical Indonesia chemicals group, has opened its new
GEM Indonesia office in Al Dhahran, Saudi Arabia. The
: Relyana office will primarily function as a sales
 : Relyana@gemisen-group.com hub. A commercial team will be based
: +62-21 5435 8118 there to serve key end markets in the
: Chemical-indonesia.net region including personal care, packag-
ing, polymer specialties, construction,
oilfield, among others.
August 2025
26-28 | Seoul, South Korea “This strategic investment will
CPHI Korea 2025 29 30 APRIL 2025 support our customer service, logistics,
Informa Markets Korea Corporation HALL 2, 3 & 6 | BEC | MUMBAI and supply chain capabilities, as well
Helena (Suhyun) Kim as our growth ambitions in the region,”
Mr. Sobers Sethi, Senior Vice Presi-
 : +82 2 6715 5422 dent Emerging Markets and China at as a joint venture with Yusuf bin Ahmed Arabia for chemicals as the legal entity
 : Helena.kim@informa.com/ Nouryon. Kanoo Company. With operations in in 2021 to further expand its operations
Cphi-kr@informa.com Saudi Arabia for more than 25 years, and serve as a hub for its employees in
: Cphi.com/korea/en/home.html Nouryon operates in Saudi Arabia Nouryon established Nouryon Saudi Saudi Arabia.

152 Chemical Weekly February 25, 2025 Chemical Weekly February 25, 2025 153

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