Page 169 - CW E-Magazine (14-5-2024)

News from Abroad

BUSINESS CHANGING HANDS
Dow divests flexible packaging laminating adhesives

business to Arkema

Dow has agreed to sell its flexible mer Solutions and MobilityScience,
packaging laminating adhesives busi- which align with the company’s market
ness, within its Packaging & Specialty growth strategies.
Plastics segment, to French chemical
group, Arkema. The transaction value Arkema said the deal will signifi-
is $150-mn or approximately 10 times cantly expand its portfolio of solutions
forecasted 2024 EBITDA. for flexible packaging, enabling it to
become a key player in the market. The
Dow said the move is aimed at Dow operations will be complemen-
further sharpening its focus on “core, Chair and CEO. As per the deal five tary to its subsidiary Bostik’s existing
high-value downstream businesses.” manufacturing sites in Italy, US and commercial presence, product offering
The proceeds of this transaction will Mexico will transfer to Arkema and and technological breadth for flexi-
support Dow’s capital allocation prio- include solvent-based laminating adhe- ble packaging. Mr. Thierry Le Hénaff,
rities, including accelerating growth sives, solventless laminating adhesives, Arkema’s Chairman and CEO, said the
strategies and delivering long-term and heat seal coatings product families. deal will allow the Group and Bostik to
shareholder value. “Proceeds will help “broaden its commercial and geographic
us advance our long-term ‘Decarbo- Dow will retain its water-based presence in packaging and complete
nise & Grow and Transform the Waste’ laminating adhesives and acrylic ad- its product ranges in this demanding
strategies designed to capture more hesives businesses in the Packaging and rapidly evolving market, notably
than $3-bn in annual earnings growth and Specialty Plastics segment, as well regarding sustainable development
by 2030,” said Mr. Jim Fitterling, Dow as adhesive solutions in Dow Consu- challenges.”

MODELLING & OPTIMISATION SOLUTION
Aspen Technology’s new offering to help optimise

carbon capture value chain investments

Aspen Technology, the US-based strategic planning solution portfolio to and requires significant capital invest-
industrial software major, has intro- attempt to optimise across multiple sus- ment. This is the focus of our new stra-
duced ‘AspenTech Strategic Planning tainability pathways. tegic planning solution – helping to opti-
for Sustainability Pathways’ – a new mise capex and opex investments across
integrated modelling and optimisation As companies make significant the entire carbon capture value chain.”
solution that aims to guide companies investments in technologies to miti-
in carbon capture utilisation and stor- gate greenhouse gas emissions, Aspen- Dr. Vikas Dhole, General Manager,
age decision making and sustainability Tech’s Strategic Planning solution aims Sustainability Solutions at Aspen Tech-
strategy investments. The company for these large capital investments to nology, said “Carbon capture is but one
said the new solution was developed drive value and impact sustainability sustainability pathway. Through the
through a licensing agreement with goals. They are also expected to sup- expanded co-innovation programme, we
Saudi Arabian energy and chemicals port long-term operational performance will continue to broaden our solutions
giant, Aramco. Based on this effort, objectives. Ms. Rasha Hasaneen, Chief into other pathways to help the asset
AspenTech also announced that it is Product and Sustainability Officer at intensive industries to simultaneously
launching an expanded co-innovation Aspen Technology said, “Asset intensive address sustainability and operational
programme to bring together leading industries play a critical role in the path performance objectives, given the signi-
owner operators and EPC companies to global net-zero, and carbon capture is ficant investment that is projected in
to collaboratively innovate a wider an important pathway for our customers this area.”

Chemical Weekly May 14, 2024 169

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