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"Joining forces with Hidden Harbor presents an opportunity for Teckrez to continue to enhance our offerings and expand alongside our customers," said Marc Jackson, President & CEO of Teckrez. Grace Matthews, Inc. served as financial advisor to Teckrez on the transaction.

The two partners signed an agreement to continue their research collaboration at the Catalysis Research Laboratory until 2028. Since the founding of the laboratory in 2006, more than 100 employees from 34 countries have been involved in the development of new processes for homogeneous catalysis and organic synthesis.

AkzoNobel’s Coil and Extrusion Coatings business has signed a strategic agreement with the hi-tech specialists to develop a pioneering process that uses electron beams to cure coatings on metal substrates. 

The company will establish a Group Executive Committee that will develop, implement, and oversee key decisions and strategies for the company.

As Vice President, Aerospace Coatings, Sam Millikin will lead the global strategic business and succeed Daniel G. Korte, current Senior Vice President, PPG Aerospace Coatings, who has announced his intent to retire in the second quarter 2024.

The North America Graduate Engineering Trainee (GET) program graduates developed their leadership, project management, data analysis, technical, and paint manufacturing skills across multiple sites in North America. The program is designed to prepare participants for key roles in managerial or experts’ positions.

The project involves the custom design, engineering, and construction of a direct fired thermal oxidizer (DFTO), waste heat boiler, H2S scrubber system, and an enclosed flare for a prominent player in the chemical sector.

With this expansion, the company now provides regulatory automation for the three largest chemical industry markets in the world – the United States, China, and the European Union; Japan is scheduled for 2024.

The company concluded that, given continued losses, the economics of the plant in Podari cannot sustain the necessary continued expenditure. Following the announcement, activities within the Biofuels & Derivatives business line, which supported the development and ramp-up of the plant, will be downsized.