DuPont plans to sell Nomex and Kevlar brands for $2 billion! Covestro Declares Force Majeure on TDI / oTDA-based / Polyether Polyol; GAC Group Enters UK Market

International News Guide:

Raw Material News - American DuPont plans to sell Nomex and Kevlar brands for $2 billion

Automotive News - GAC Group Enters UK Market, to Launch Two AION Brand EVs First

Electronics News - Counterpoint: Global Smartphone Shipments Grew 2% YoY in Q2

Other News - Covestro India and CSIR-NCL Partner to Convert PU Waste into Chemical Building Blocks

Details of International News:

1. American Dupont Plans to Sell Nomex and Kevlar Brands for $2 Billion

It is reported that DuPont's iconic high-performance brands - Nomex and Kevlar, have now been put up for sale. As part of a major corporate restructuring, DuPont is preparing to spin off the Nomex and Kevlar heat-resistant fiber brands by mid-2025. Private equity firms Advent International and Platinum Equity are preparing to submit bids, and the deal is expected to be valued at approximately $2 billion (equivalent to about RMB 1.44 billion). The purpose of this spin-off is to focus on high-growth areas (semiconductors, medical care, water treatment).

2. Covestro Declares Force Majeure on TDI / oTDA-based / Polyether Polyol

Due to a fire in an external transformer station in building L26 at Chempark Dormagen early Saturday morning on July 12, 2025, there was a sudden and unpredictable power outage in parts of the Chempark. In addition to the process control system, Covestro's PUD and PET operations as well as the chlorine plant were also affected by this incident, which had to be shut down to a safe state. The specific impacts of this incident cannot yet be assessed by Covestro. Furthermore, it is not foreseeable how long this condition, the interruption of the power supply, and the failure of the process control system will last.

3. Solvay Revises Its 2025 Underlying EBITDA Outlook and Confirms Its Free Cash Flow Guidance

4. Adnoc to transfer OMV stake to XRG

5. Canada’s KSR sold to U.S.-based Angstrom Automotive Group

KSR International, a Ridgetown, Ont.-based automotive parts maker, has been acquired by Angstrom Automotive Group Inc., in a move that expands Angstrom’s product offering, manufacturing footprint, and vertical integration, while deepening business with OEMs.

6. GAC Group Enters UK Market, to Launch Two AION Brand EVs First

On July 16, GAC Group and Saudi-owned distributor Jameel Motors announced a cooperation agreement, under which the latter will distribute GAC Group's models in the UK, Europe's second-largest automotive market. This makes GAC Group the fourth Chinese automaker to launch a new brand in the UK market this month. According to the plan, GAC Group will first launch two AION brand electric models in the UK market - the AION V SUV and AION UT Hatchback, with the first batch of vehicles expected to be delivered to UK consumers in the first quarter of 2026.

7. Covestro India and CSIR-NCL Partner to Convert PU Waste into Chemical Building Blocks

8. South Korea Plans to Impose 5-Year Anti-Dumping Duties on Chinese Petroleum Resins

Recently, South Korea's Ministry of Strategy and Finance issued Announcement No. 2025-142, stating that it will impose anti-dumping duties for five years on petroleum resins originating from Mainland China and Taiwan Region of China. Among them, the duty rate for Mainland China is 2.26% ~ 3.50%, and that for Taiwan Region of China is 7.07% and 18.52%. The case involves products under Korean tariff code 3911.10.1000, but C9 petroleum resins with a softening point of not less than 130℃ are not subject to the above anti-dumping duties.

9. Counterpoint: Global Smartphone Shipments Grew 2% YoY in Q2

On July 17, according to preliminary data estimates from Counterpoint Research's market monitoring service, global smartphone shipments in the second quarter of 2025 grew slightly by 2% year-on-year (YoY). This growth marks the second consecutive quarter of expansion, mainly driven by contributions from the North American, Japanese and European markets. Samsung maintained its position as the world's top smartphone vendor in Q2 2025 with an 8% YoY increase in shipments. Apple remained in second place, with its shipments rising 4% YoY. Xiaomi's performance in Q2 2025 was flat YoY, ranking third. vivo and OPPO ranked fourth and fifth respectively, performing steadily in the mid-range market and showing signs of recovery in overseas markets such as Latin America and the Middle East and Africa (MEA).