Chemical news · Three minutes a day
Wednesday, August 26, 2026
Lead Story
Gatik Secures $200 Million in Funding as Autonomous Freight Market AcceleratesAutonomous trucking startup Gatik raised $200 million in Series D funding to expand its fleet and operations across North America. The investment aims to enhance supply chain efficiency for major clients like PepsiCo and Loblaw.
Indian regulators launched an antitrust probe into Givaudan, Firmenich, and IFF over alleged price collusion in the fragrance industry. A confidential document revealed the case involves commercial secrets disputes, potentially delaying the two-year-old investigation.
Indorama Ventures, Suntory, and Iwatani are launching a commercial circular PET packaging project in Thailand using advanced FtoP recycling technology. The facility aims to produce 400 million recycled preforms annually, reducing carbon emissions by 70% compared to fossil-based production.
QXO, Inc. has appointed Ken West as President and COO effective September 1, 2026. West will oversee operations to drive growth in the building products industry under CEO Brad Jacobs.
Hormel Foods appointed Ash Bhumbla as its new executive vice president and chief financial officer effective September 8, 2026, while interim CFO Paul Kuehneman remains in a senior leadership role.
Peter Ackroyd, former president of the International Wool Textile Organisation and director general of the National Wool Textile Export Corporation, has died at 76. He championed wool as a natural, renewable fibre throughout his career.
Hormel Foods appointed Ash Bhumbla, formerly of Tyson Foods, as executive vice president and chief financial officer effective September 8. Bhumbla will lead financial strategy, succeeding interim CFO Paul Kuehneman who will remain with the organization.
Eni and BP target a final investment decision within months on Egypt's Denise West gas field, aiming for first gas in under two years. The project supports Egypt's role as a Mediterranean energy hub via the Cronos development and Damietta LNG plant.
Korea Investment Corp acquired a $3.17 million stake in International Flavors & Fragrances Inc. during the second quarter, while the company announced a stock repurchase plan and maintains a Moderate Buy consensus among analysts.
H.B. Fuller's board rejected Ancora Holdings' $1.1-1.2 billion offer for its building adhesives solutions (BAS) unit, citing undervaluation. The company plans to integrate its AMS acquisition while maintaining confidence in BAS's future earnings growth.
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