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Dow exploring divestiture options
The Dow Chemical Company is exploring divestiture options for its Clear Lake Operations acrylic acid and esters, and UCAR Emulsion Systems specialty latex business in North America. Dow has engaged J.P. Morgan to act as financial adviser in support of this effort.
The exploration of strategic options for the business is driven by Dow’s interest in proactively mitigating potential anti-trust issues associated with its previously announced acquisition of Rohm and Haas.
The business includes an acrylic acid and esters production plant located in Clear Lake, TX, and UCAR Emulsion System specialty latex product plants located in St. Charles, LA; Alsip, IL; Torrance, CA and a commercial and technical center in Cary, NC. As divestiture options are considered, the business will continue to be sharply focused on effectively managing operations, competing in the market, delivering exceptional value to customers and the safety of Dow employees, the company reported.
Reichhold to build resin plant in Tianjin, China
Reichhold has recently announced plans to expand into the Chinese market by building a composite resins plant in Tianjin, China. Phase I of the new plant is scheduled for completion by the end of 2009. This first phase will have resin capacity of 12,000 tons per year and will also be capable of producing vinyl esters, gel coats and structural adhesives.
“We are very excited about this opportunity to expand our business into China in order to serve our growing base of strategic global customers in addition to the local market,” said Doug Frey, executive VP, global composites, Reichhold. “The new facility in Tianjin will produce the full range of Reichhold composite offerings in support of our strategy to deliver our products and technology consistently to customers worldwide. While the plant is being constructed, we have contract manufacturing arrangements already in place to support our customers in the interim period.”
Reichhold’s composites offering includes unsaturated polyesters, vinyl esters, gel coatings, structural adhesives and flame retardant resins for a wide variety of markets, including industrial, construction, marine and wind energy.
Cognis sells its stake in JV to PTT Chemical
Cognis has sold its fifty percent stake in Cognis Oleochemicals joint venture to PTT Chemical International, a Singapore-based wholly-owned subsidiary of PTT Chemical Public Company Ltd. PTT Chemical is Thailand’s largest producer of olefins and associated products. Antonio Trius, CEO of Cognis, stated that “the sale of our stake in Cognis Oleochemicals reflects our strategy to consistently concentrate on the innovation-driven growth markets of wellness and sustainability.”
Troy receives environmental stewardship award
Troy Corporation’s Newark, NJ manufacturing facility was awarded the New Jersey Department of Environmental Protection (NJ DEP) Stewardship Award. This award is given to members of the regulated community who are engaged in positive activities that benefit the environment. The NJ DEP presented the award to Edward Capasso, corporate director environmental/regulatory affairs. The NJ DEP’s Environmental Stewardship Award recognizes businesses and corporations that go beyond the minimum requirements of existing rules and regulations.
Altana acquires effect pigment business of USBP
The Altana Group signed a contract to acquire the effect pigment business of United States Bronze Powders Inc. (USBP). In 2007, USBP achieved sales of approximately $8 million in this business area. USBP retains its powder business as well as its aluminum pigments business. Within the Altana Group, the acquired business will be integrated into the Eckart Effect Pigments division, a manufacturer of metallic and pearlescent pigments. The acquisition is subject to approval by the antitrust authorities. The acquired business mainly comprises the production of copper pigments, bronze pigments, stainless steel pigments, as well as press-ready metallic printing inks. No manufacturing site and no employees are included under the agreement with USBP; the production for this business will be transferred to Eckart’s U.S. affiliate, Eckart America in Painesville, OH and to its main factory in Günthersthal, Germany.
Eastman expands coatings e-commerce offerings
Eastman Chemical Company has extended its relationship with ChemPoint.com, an online distributor of fine and specialty chemicals. ChemPoint is now actively marketing and offering sales and customer service for Eastman adhesion promoters and cellulose esters to U.S. customers. ChemPoint.com will manage the order and fulfillment process for Eastman’s adhesion promoters and cellulose esters from order placement to delivery to technical support.
In brief
Dow Epoxy received approval of environmental impact assessments (EIA) by China’s Ministry of Environmental Protection for its plans to build a 100,000 MTPA liquid epoxy resin (LER) plant and a 150,000 MTPA glycerine-to-epichlorohydrin (GTW) plant at Shanghai Chemical Industry Park....Dow Izolan, the joint venture between Dow and Izolan, broke ground on a polyurethane systems manufacturing facility in Vladimir, Russia...Cray Valley has lifted sales control on its Norsolene A series and S series hydrocarbon resins manufactured in its Channelview, TX facility, effective immediately...Sartomer Company and R.M. Ferguson Specialty Chemicals recently marked their 40th anniversary of working together to promote photocure monomers, resins and other products used in coatings, adhesives, inks, rubber and other applications.
Pricing changes
Cytec: Jan. 1—up to 5% increase for PTZ phenothiazine.
Dianal America: Effective immediately—20% increase for methyl/butyl methacrylate copolymer.
Oxea: Sept. 1—$0.04 in the U.S. and $88/MT increase in South and Central America, Asia, Africa and the Middle East for i/n butanol, i/n butyl acetate, n propanol and n propyl acetate.
Tronox: Sept. 1—$200/ton increase for all titanium dioxide grades in the Asia-Pacific region.
Distributor appointments
BASF has appointed D. H. Litter Co. as its exclusive distributor for its Acronal, Acronal Optive, Butofan, Butonal, Styrofan and Styronal latex dispersion products in ME, NH, VT, MA, CT, RI, NY, NJ, PA, MD, DE, WV and VA.
Fuji Silysia Chemical has appointed Majemac Southeast, LLC as its distributor for its amorphous silica in MS, AL and GA. |
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