Chemical industry news · Three minutes a day
Thursday, November 5, 2026
Lead Story
Kraft Heinz to divest North America coffee unit amid Cahillane's turnaround effortKraft Heinz agreed to sell its North American coffee business, including Maxwell House, to One Rock Capital Partners for $650 million, closing in mid-2027. This divestiture supports CEO Steve Cahillane's turnaround strategy following quarterly sales that edged past estimates.
Mubadala-owned Moeve has agreed to sell its Algerian oil assets to Indonesia's Pertamina as part of a strategic shift toward low-carbon businesses. The deal includes stakes in several onshore oil fields, though financial terms were not disclosed.
Novo Nordisk announced that CFO Karsten Munk Knudsen will step down, succeeded by Luigi La Corte. The Danish pharmaceutical firm confirmed the executive change on Wednesday.
Japan Investment Corp plans to sell semiconductor materials maker JSR to Mitsui Chemicals in a deal exceeding 1.3 trillion yen, reshaping Japan's chip supply chain despite financial concerns for the buyer.
BP has appointed former Shell chemicals executive Emma Lewis to lead its downstream business starting January 2027. The move aims to strengthen refining and fuels operations amid Shell's ongoing discussions regarding the sale of its chemical assets.
AM Green Ammonia expects to secure buyers by mid-2027 for its 1 million metric ton per year green ammonia facility in India, with Germany's Uniper already committed to purchasing up to 500,000 tons annually.
Smith+Nephew confirmed failed merger talks with Johnson & Johnson's orthopaedics unit due to leadership disagreements. Consequently, the company cut its full-year revenue and profit forecasts citing persistent weakness in the Orthopaedics segment.
Swiss chocolate maker Barry Callebaut raised its cocoa price assumption to £4,000 per ton and projected lower earnings growth amid rising costs and a future partnership expiration with Hershey.
Coca-Cola HBC raised its fiscal 2026 organic revenue growth forecast to 6-7%, driven by pricing actions and robust demand despite rising commodity costs. The company remains on track to complete its acquisition of Coca-Cola Beverages Africa by the end of 2026.
U.S. markets closed higher driven by Big Tech and AI stocks, with notable gains from chemical firms DuPont and Celanese. Oil prices swung between $101 and $107 per barrel amidst geopolitical uncertainty.
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