en.Wedoany.com Reported - U.S. chemical companies Olin and Huntsman jointly announced on June 16 that they will form a new company, named OlinHuntsman, through an equal-share merger. The transaction is expected to close in the first half of 2027, at which time existing Olin shareholders will hold approximately 54.5% of the new company's shares, while Huntsman investors will hold approximately 45.5%. The combined market capitalization of the two companies is approximately $4.97 billion, with a post-merger enterprise value of approximately $10.43 billion. OlinHuntsman's total revenue is expected to be approximately $12.5 billion, generating over $400 million in cost synergies and raw material integration benefits. Olin CEO Ken Lane will serve as CEO of the new company, while Huntsman CEO Peter Huntsman will serve as non-executive Chairman of the Board. The new company's business will cover chlor-alkali chemicals, polyurethanes, advanced materials, amine chemicals, and epoxy resins.
Evonik Industries AG announced that it will further advance structural optimization and cost-reduction measures globally, planning to cut approximately 3,200 positions between 2027 and the end of 2029, with about 2,150 of these located in Germany. The company has also decided to shut down its global polyester business in 2027, involving production facilities in Witten and Marl, Germany, as well as Shanghai, China, affecting a total of 346 employees whose positions will be adjusted. This round of measures, agreed upon by the company's Executive Board and employee representatives, will involve all business and functional areas. Evonik believes that efficiency improvements, digitalization, and expanded outsourcing will provide the scope to achieve these goals. Through the company's current "Evonik Tailor-Made" efficiency program, Evonik has already reduced approximately 2,800 positions cumulatively from October 2023 to the end of 2026.
Global paint giant Jotun has signed a letter of intent for cooperation with the Moroccan Ministry of Industry and Trade to build a new paint production base in the Casablanca-Settat region. The total project investment is approximately 100 million Moroccan Dirhams (approximately RMB 72.94 million), and it is expected to directly create 60 jobs by 2030. The new factory will specialize in producing various paints and protective coatings, primarily serving Morocco's chemical and petrochemical industries. This investment aligns with the "Made in Morocco" national strategy and helps consolidate the country's industrial position as a hub connecting the three major markets of Europe, Africa, and the Middle East. Data shows that the Moroccan paint market is expected to reach $448.2 million in 2026, with a compound annual growth rate of approximately 5.39% from 2026 to 2031.
Stahl, a global specialty coatings company for flexible materials, announced on June 15 that it has signed an agreement to acquire the printing coatings business of Germany's Weilburger in Brazil. The transaction is subject to regulatory approval and is expected to close shortly. This acquisition will further strengthen Stahl's position in the Latin American packaging coatings market. Weilburger has deep expertise in water-based and energy-curable coatings. Stahl had previously fully acquired Weilburger for €93.4 million in 2024, entering the energy-curable coatings market, but the Brazilian business was operated independently and not included at that time. Subsequently, Stahl completed the integration of its Turkish business in December 2025.
Sudarshan Chemical Industries Limited, a leading global supplier of paint pigments, inaugurated its second global headquarters on June 9 at the Hillsite office building in Schwalbach am Taunus, near Frankfurt, Germany. The opening of the new headquarters marks another milestone for Sudarshan following its acquisition of the Heubach Group in March 2025. Through this integration, Sudarshan has enhanced its product portfolio, gained access to a diversified asset footprint spanning 19 international production sites, and secured a stronger competitive position in core markets such as Europe and the Americas.
Nippon Paint has announced the launch of its India expansion plan, aiming to grow its Indian business from approximately INR 28 billion (approximately RMB 2 billion) in 2025 to INR 60 billion (approximately RMB 4.3 billion) by 2029. At the same time, Nippon Paint plans to expand its manufacturing base in India from the current seven facilities to at least fifteen, in order to capture market share in the Indian paint market and bet on the long-term growth of this market.
Do it Best Group, a global home improvement industry purchasing cooperative, announced on June 9 a strategic partnership with global paint company Sherwin-Williams. Under the long-term strategic agreement, Do it Best Group will combine its brand ownership, retailer relationships, and channel expertise with Sherwin-Williams' manufacturing strength, innovation capabilities, and supply chain support. Sherwin-Williams will assume manufacturing responsibility for EasyCare products and continue to produce Best Look products. The EasyCare brand will continue to be offered exclusively to True Value retailers, while the Best Look brand will be offered exclusively to Do it Best members. Do it Best Group will retain ownership and management rights for both paint brands. Sherwin-Williams will also take over the lease structure for the paint production facility located in Cary, Illinois, and retain the facility's team.
Kansai HELIOS USA has officially inaugurated its new production facility in Johnstown, Ohio. The project, with an investment of over $20 million (approximately RMB 135 million), represents the largest investment by the Kansai HELIOS Group in the United States to date. The site has been converted from an existing industrial building into a production base meeting global standards, aimed at enhancing the company's ability to serve North American customers. The facility integrates local production with proven technologies from the group's European operations. According to the plan, the project is expected to create up to 50 new jobs over the next few years.
