Industry News

Axens Documents a Bidding Proposal for Acquisition of Heurtey Petrochem Group

France: Axens, a France based technology licensing company, has filed a takeover bid proposition to acquire an international oil and gas engineering firm called Heurtey Petrochem Group. Post submission and approval of the proposal by French capital markets authority, that is Autorité des marchés financiers (AMF), the merger between the companies would lead to the development of a highly advanced industrial group focusing on refining & petrochemical segments as well as processing of natural gas, biofuels and renewable chemical sources. The positive outcome of the bid would strengthen the international presence of Axens, enabling the expansion of its product portfolio globally.

TechSci Research depicts that the merger between the two leading French companies would aid Heurtey Petrochem group to offer an extended range of furnaces for ethylene and aromatics production units and would allow Axens to offer its petrochemical technology licensing to a broader customer base, thereby boosting the production of petrochemical intermediates and olefins globally.

According to the recently published report by TechSci Research, Global Ethylene Market By End Use, By Region, Competition Forecast and Opportunities, 2011 - 2025, the global ethylene market is expected to grow at a CAGR of around 11.26% during 2016-2025, on the back of growing demands for flexible packaging materials, disposable items and expanding real estate & construction sector, globally. Increasing awareness among people about package labelling and its advantages, along with production of light weight automobiles and expanding infrastructure sector in developing countries is expected to result in augmented demand for ethylene and its derivatives.

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