Mitsui

Celanese and Mitsui & Co., Ltd. to Form Food Ingredients Joint Venture; Extend Existing Fairway Methanol LLC Joint Venture

Retrieved on: 
Thursday, February 23, 2023

Celanese announced today the signing of a term sheet to form a Food Ingredients JV with Mitsui, subject to customary approvals.

Key Points: 
  • Celanese announced today the signing of a term sheet to form a Food Ingredients JV with Mitsui, subject to customary approvals.
  • Through this transaction, Celanese will contribute its Food Ingredients business, inclusive of assets, technology, and employees, to form a standalone Food Ingredients JV.
  • Celanese Food Ingredients is a leading producer of acesulfame potassium (Ace-K) sweetener as well as sorbic acid and potassium sorbate preservatives.
  • Celanese and Mitsui have also agreed on a long-term extension of their existing Fairway Methanol LLC JV which produces methanol at Celanese’s Clear Lake facility.

Celanese Corporation Reports Full Year 2022 and Fourth Quarter Earnings

Retrieved on: 
Thursday, February 23, 2023

Additionally, the Acetyl Chain intentionally idled all five of its major production units in China at different points in the fourth quarter.

Key Points: 
  • Additionally, the Acetyl Chain intentionally idled all five of its major production units in China at different points in the fourth quarter.
  • The Acetyl Chain delivered fourth quarter net sales of $1.1 billion due to sequential pricing and volume declines of 10 percent and 9 percent, respectively.
  • Engineered Materials reported fourth quarter GAAP operating profit of $25 million and adjusted EBIT of $138 million which included affiliate earnings of $31 million.
  • Based in Dallas, Celanese employs approximately 13,300 employees worldwide and had 2022 net sales of $9.7 billion.

OCI Solar Power announces collaboration with Mitsui USA for solar energy projects in Texas

Retrieved on: 
Thursday, February 23, 2023

SAN ANTONIO, Feb. 23, 2023 /PRNewswire/ -- OCI Solar Power, headquartered in San Antonio,  signed an agreement with Mitsui & Co. (U.S.A.), Inc. ("Mitsui USA") yesterday memorializing their intent to collaborate on utility-scale solar energy projects in Texas.

Key Points: 
  • SAN ANTONIO, Feb. 23, 2023 /PRNewswire/ -- OCI Solar Power, headquartered in San Antonio,  signed an agreement with Mitsui & Co. (U.S.A.), Inc. ("Mitsui USA") yesterday memorializing their intent to collaborate on utility-scale solar energy projects in Texas.
  • Under the agreement, OCI Solar Power will develop the projects and offer them to Mitsui & Co., Ltd. ("Mitsui Tokyo") for investment.
  • OCI Solar Power will develop the projects and offer them to Mitsui & Co., Ltd. for investment.
  • Earlier this month, OCI Solar Power announced it has originated more than 3 gigawatts of solar projects in operation, under construction, and in development across Texas.

LanzaTech and AMCI Acquisition Corp. II Announce Closing of Business Combination, Establishing First Public Carbon Capture and Transformation Company

Retrieved on: 
Thursday, February 9, 2023

LanzaTech Global, Inc. (“LanzaTech”), formerly known as AMCI Acquisition Corp. II (“AMCI”), today announced the completion of its previously announced business combination between AMCI and LanzaTech NZ, Inc., an innovative carbon capture and transformation (“CCT”) company that converts waste carbon into materials such as sustainable fuels, fabrics, packaging and other products that people use in their daily lives.

Key Points: 
  • LanzaTech Global, Inc. (“LanzaTech”), formerly known as AMCI Acquisition Corp. II (“AMCI”), today announced the completion of its previously announced business combination between AMCI and LanzaTech NZ, Inc., an innovative carbon capture and transformation (“CCT”) company that converts waste carbon into materials such as sustainable fuels, fabrics, packaging and other products that people use in their daily lives.
  • LanzaTech is the first CCT company to become public in the United States.
  • LanzaTech helps customers create a more sustainable future by supporting customers’ ESG goals and helping industries meet mandated emissions reduction targets.
  • The business combination values LanzaTech at an implied pro forma enterprise value of approximately $1.8 billion.

Aramark Reports First Quarter Earnings

Retrieved on: 
Tuesday, February 7, 2023

As expected, the first quarter experienced a cash outflow associated with Aramark's normal seasonal business cadence, specifically in Higher Education, and higher working capital due to strong revenue growth.

Key Points: 
  • As expected, the first quarter experienced a cash outflow associated with Aramark's normal seasonal business cadence, specifically in Higher Education, and higher working capital due to strong revenue growth.
  • In the quarter, Net cash used in operating activities was $607 million and Free Cash Flow was a use of $706 million.
  • Aramark began fiscal 2023 with an ongoing commitment to provide exceptional service to clients, which led to strong business performance on both the top- and bottom-line.
  • The transaction is anticipated to close at the beginning of Aramark's fiscal third quarter, subject to customary closing conditions and approvals.

Spaceflight Inc. Announces Tiphaine Louradour as New CEO

Retrieved on: 
Thursday, February 2, 2023

Spaceflight Inc. , a premier launch and in-space transportation services provider, announced today industry veteran and global business leader Tiphaine Louradour has joined the company as chief executive officer (CEO).

Key Points: 
  • Spaceflight Inc. , a premier launch and in-space transportation services provider, announced today industry veteran and global business leader Tiphaine Louradour has joined the company as chief executive officer (CEO).
  • View the full release here: https://www.businesswire.com/news/home/20230202005355/en/
    Spaceflight Inc. announced that industry veteran and global business leader Tiphaine Louradour has joined the company as CEO.
  • “She possesses the passion, industry expertise, strategic leadership skills, and collaborative relationship building prowess to create an even greater, more successful, Spaceflight organization going forward.
  • I’ve long been impressed with Tiphaine and the timing is ideal to make a change – I couldn’t be more excited about the road ahead for Spaceflight.”

Aramark to Sell Ownership Stake in AIM Services

Retrieved on: 
Thursday, February 2, 2023

Aramark (NYSE: ARMK), a global leader in food, facilities management and uniforms, today announced an agreement to sell its 50% equity stake in AIM Services to Mitsui & Co., Ltd. for $535 million.

Key Points: 
  • Aramark (NYSE: ARMK), a global leader in food, facilities management and uniforms, today announced an agreement to sell its 50% equity stake in AIM Services to Mitsui & Co., Ltd. for $535 million.
  • The Company will use the proceeds from the transaction toward debt repayment.
  • AIM Services was established as a joint venture between Aramark and Mitsui Group companies in 1976 to provide food services to clients across a variety of business sectors in Japan.
  • As previously announced, Aramark is scheduled to host its fiscal first quarter earnings call on February 7, 2023 at 8:30 a.m.

Citroniq Chemicals LLC and Mitsui Plastics, Inc. Sign a Letter of Intent to Achieve GHG Reductions through a Carbon Negative Polypropylene Supply Agreement

Retrieved on: 
Monday, January 23, 2023

Citroniq and MPI's alliance is timely as consumers are demanding sustainable, environmentally friendly, and socially responsible products.

Key Points: 
  • Citroniq and MPI's alliance is timely as consumers are demanding sustainable, environmentally friendly, and socially responsible products.
  • MPI has recognized Citroniq's polypropylene as a viable solution to meeting their growing demand for sustainable materials.
  • Made from a sustainable biogenic feedstock using renewable energy, Citroniq's green carbon-negative polypropylene permanently sequesters CO2 in a useful plastic pellet.
  • "Mitsui & Co. has set a goal to become carbon neutral by 2050.

Atlas Lithium Signs Memorandum of Understanding with Mitsui & Co

Retrieved on: 
Wednesday, January 18, 2023

Belo Horizonte, Brazil, Jan 18, 2023 - (ACN Newswire) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company"), a mineral exploration company focused on lithium and other battery metals critical to powering the green energy revolution, is pleased to announce that it has signed a Memorandum of Understanding (the "MOU") with Mitsui & Co., Ltd. ("Mitsui) with respect to Mitsui's potential interest in acquiring the right to purchase Atlas Lithium's future lithium concentrate production.

Key Points: 
  • Belo Horizonte, Brazil, Jan 18, 2023 - (ACN Newswire) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company"), a mineral exploration company focused on lithium and other battery metals critical to powering the green energy revolution, is pleased to announce that it has signed a Memorandum of Understanding (the "MOU") with Mitsui & Co., Ltd. ("Mitsui) with respect to Mitsui's potential interest in acquiring the right to purchase Atlas Lithium's future lithium concentrate production.
  • The Offtake Funding would be primarily used by Atlas Lithium for the construction of the Plant.
  • Marc Fogassa, Chairman and Chief Executive Officer of Atlas Lithium, commented, "Our lithium assets are world-class and therefore we are enthusiastic about the prospects of a long-lasting and mutually rewarding partnership with such a well-known and global-reaching company as Mitsui."
  • As part of the MOU, Atlas Lithium and Mitsui will also seek to collaborate in other strategic areas.

EQS-News: PATRIZIA and Mitsui launch new flagship strategy for sustainable infrastructure investments in APAC

Retrieved on: 
Thursday, February 2, 2023

PATRIZIA, a leading partner for global real assets, and Mitsui, one of the world’s largest trading and investment companies, have launched a new flagship discretionary sustainable infrastructure strategy in APAC.

Key Points: 
  • PATRIZIA, a leading partner for global real assets, and Mitsui, one of the world’s largest trading and investment companies, have launched a new flagship discretionary sustainable infrastructure strategy in APAC.
  • The strategy is managed by a joint venture management company between PATRIZIA and Mitsui, who are both co-investors, to ensure strong sponsorship alignment.
  • The launch of the strategy continues one of the most successful collaborations in global infrastructure management, with the PATRIZIA-Mitsui partnership enjoying a c.15-year track-record in infrastructure investing.
  • Graham Matthews, CEO of PATRIZIA Infrastructure, said: “The launch of our new APAC strategy is a real game-changer for PATRIZIA.