Materials
Ashish Khandpur, who's been with 3M Co. for almost 30 years, will be taking on the role as Avient's new CEO as Robert Patterson will be retiring.
This marks the second time this year that Nova Chemicals' Moore Township, Ontario, site has operated under supply limits because of an ethylene supply issue.
The shutdown at Port Arthur, Texas, could impact markets for plastics feedstocks ethylene, propylene and butadiene, all of which are made at the site.
Materials firm Washington Penn is investing more than $100 million on an expansion in Kentucky that will create 88 jobs.
Specialty resin maker Bakelite Synthetics has acquired LRBG Chemicals Inc. for an undisclosed price.
Chevron Phillips Chemical Co. has placed force majeure supply limits on high density polyethylene resin made at one of the firm's plants in Orange, Texas.
The acquisition sees an end to family control for M. Holland, one of the biggest distributors in North America, although current leadership will continue to operate the business as a Ravago subsidiary.
Part of the challenge of assessing 2023 was also true in 2022 — comparisons to massive demand growth in 2021 that occurred as market recovered from the COVID-19 pandemic.
Materials maker LyondellBasell Industries saw sizable drops in sales and profit in the second quarter of 2023.
Westlake Corp., DuPont Co. and Huntsman Corp. all saw sizable drops in sales and profit in the second quarter.
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