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As of 2018, Honeywell licensed more than 100 complexes and more than 700 individual process units for production of aromatics, including more than 370 CCR Platforming process units, 160 Sulfolane units, 80 Isomar units, 60 Tatoray units, and 100 Parex units worldwide.
and Parex in the Philippines have converged following the Sika's successful global acquisition of the ParexGroup on May 23, 2019.
Sika, a specialty chemicals company, has completed the acquisition of Parex, an international construction chemical company, on May 23, 2019.
The Conghua Super plant, which was opened last year and produces cement based mortar, coatings, adhesives and sealants, etc for refurbishing and construction markets, is the one with the largest production output and the highest automation in Parex group.
Parex participates in all phases of the construction life cycle and has what Sika officials note is a particularly strong presence in distribution channels, combining recognized brands with research & development expertise and technical excellence.
Already a major presence in the region, Parex has Enewall, based INWISHAW, to create a significant expansion in its UK activities which produce renders and facade systems, technical mortars, hard landscaping mortars and commercial tiling products.
Parex is proposed to be a joint venture between the state-controlled Philippine National Construction Corp.
This is not comparable with the collapse of Parex Bank during the last global financial crisis when the government bought its remaining assets for 1 [euro], split its toxic assets into a separate company and allowed its positive assets to be claimed by Citadele, Parex Bank's successor.
Boranda-1 is reportedly operated by Parex, with an interest of 50%, while Ecopetrol holds the other 50%.
Further in the same month, Calgary-based Parex Resources acquired Nabors' Colombian subsidiary TargetCo for $72.6 million.
The liquidity squeeze in international financial markets had, however, led to the collapse of the largest domestically owned bank, Parex Bank, and the government had had to step in and rescue the bank.