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2014 PUdaily Newsbits: Europe & America
1 / 27
Your Trusted Polyurethane Market Advisor
BASF Plans to Increase R&D Investments
BASF Slashes Chemical Production Targets on Weak Demand
BASF to Build New Plant for Speciality Amines in Ludwigshafen
Bayer Plans to Focus Entirely on Life Science Businesses
Bayer MaterialScience Inaugurates TDI Plant in Germany
Bayer Offers Materials for the World Cup Stadiums in Brazil
BMS to Invest EUR 15 Mln for CO2 Polyols Production
Albemarle and ICL Partner to Set up Polymeric Flame Retardant Joint Venture
Bostik Introduces A New, High Performing Adhesive for Buildings and More
CJSC Orgsyntes Group to Invest over $280ML in MDI Production
COIM to Expand Europe Polyester Polyols Capacity
Dow Automotive Systems launches Amine Emission-free PU Foam for Interiors
India launches Anti-dumping Probe into Chemical Imports from China and Switzerland
Jowat Establishes New Business Unit Global Product Marketing
PTT Global Chemical Increases Stake in French Chemical Firm Vencorex
Sabic and Shell Cancel Sadaf JV Expansion
SAPICI to Expand Aliphatic Prepolymer in Italy and China by End 2014
SAPICI Waterborne Adhesives for Flexible Packaging Help Nurturing Industrial Innovation
Shell Two PO/SM Plants in Moerdijk Experienced Long Unplanned Shutdown in H2 of 2014
Vencorex Announces Increased Capacity of Isophorone Diisocyanate & Expansion of IPDI
Wanhua Chemical and Hungary BorsodChem Merger Plans on Hold
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BASF Plans to Increase R&D Investments
2014/5/30
German chemical
firm BASF has unveiled
plans to increase its
investments in
research and
development (R&D) this year and expects to
carry out 50% of its research activities outside
Europe by 2020.
In 2013, the company invested €1.8bn on
research, compared with €1.7bn in 2012.
In line with its efforts to drive globalisation of
research, BASF opened new laboratories in Asia
and the US.
The German firm also collaborated with
California universities for the 'California
Research Alliance by BASF' (CARA) to focus on
the biosciences and new inorganic materials for
the energy, electronics and renewable
resources.
In Asia, BASF partnered with Chinese,
Japanese and Korean universities for the
research initiative 'Network for Advanced
Materials Open Research' (NAO), which seeks to
develop materials for a wide range of
applications, including products for the
automotive, construction and water industries.
Kreimeyer was quoted by Bloomberg as
saying that the company plans to spend 3% of its
revenues,
excluding an oil
and gas unit, on
research each
year.
In 2013, BASF generated €8bn from sales of
new products introduced within the past five
years and launched 300 new products on the
market.
BASF Slashes Chemical Production Targets on
Weak Demand 2014/10/28
German chemical firm BASF has cut its
chemical production targets for 2014 and 2015
due to weaker global economy.
The company expects its chemical
production to grow by 4% in the current fiscal
and the next, compared to previous estimates of
4.4% and 4.9% respectively.
BASF said that there has been increased
margin pressure for certain products and
partially in the Performance Products segment.
Consequently, the company is restructuring the
segment, which is expected to contribute around
€500m to its earnings from 2017.
Demand for chemical products, particularly
in Europe, was significantly affected by
geopolitical tensions and increasing uncertainty
about the global economic development.
Europe accounts for more than half of BASF
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revenues.
For the three months ended 30 September,
BASF reported earnings of €1.04bn, compared
with €1.1bn for the same period a year ago.
The chemical giant expects earnings before
interest, taxes, depreciation and amortization of
around €12bn for 2015.
BASF to Build New Plant for Speciality Amines in
Ludwigshafen 2014/5/15
BASF is building a new world-scale plant for
the production of speciality amines in
Ludwigshafen, Germany. Start-up of the facility
with a total annual capacity of about 12,000 t is
scheduled for 2015.
The product range of this flexible
multi-product plant comprises 15 amines for
different applications. The major applications are
in the construction, automotive, crop protection,
and pharmaceutical industries. With this new
facility, BASF is expanding its global production
network of amines with plants in Ludwigshafen
and Schwarzheide in Germany; Antwerp,
Belgium; Geismar, LA, USA; and Nanjing, China.
BASF had announced in March 2014 that it is
building another new multi-product plant for the
production of speciality amines at the BASF
Verbund site in Nanjing, China. The main
products of this plant, which is due to start-up
operations in 2015, will be
dimethylaminopropylamine (DMAPA) and
polyetheramine (PEA).
With about 200 different amines, BASF says
it has one of the world’s most diverse portfolios
of this type of chemical intermediates. Along
with alkyl-, alkanol-, alkoxyalkylamines, the
company offers heterocyclic and aromatic as well
as speciality amines. The range is completed by
an expanding portfolio of chiral amines of high
optical and chemical purity. The products are
used mainly to manufacture process chemicals,
pharmaceuticals and crop protection products,
as well as cosmetic products and detergents.
They also serve to produce coatings, special
plastics, composites, and special fibres.
Bayer Plans to Focus Entirely on Life Science
Businesses 2014/9/19
Bayer intends in the future to focus entirely
on the Life Science businesses – HealthCare and
CropScience – and float Bayer MaterialScience
on the stock market as a separate company
within the next 12 to 18 months.
A major reason for this move is to give
MaterialScience direct access to capital for its
future development. This access can no longer
be adequately ensured within the Bayer Group
due to the substantial investment needs of the
Life Science businesses for both organic and
external growth.
Also, as a separate
company, MaterialScience
can align its organizational
and process structures
and corporate culture
entirely toward its own
industrial environment and business model.
Following the intended flotation, MaterialScience
will be Europe's fourth-largest chemical
company; it had global sales in 2013 of more
than EUR 11 billion (pro forma figure). The new
company is planned to have a global workforce of
roughly 16,800, including about 6,500 in
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Germany.It will have a new name and a separate
identity and be headquartered in Leverkusen.
Bayer MaterialScience Inaugurates TDI Plant in
Germany 2014/12/10
Bayer MaterialScience (BMS) has
inaugurated its new 300 kT/year toluene
diisocyanate production facility in Dormagen on
14 December 2014.
Thomas said that the plant would be able to
compete on a delivered-cost basis in Europe with
new capacity due soon in the Middle East.
Thomas added that there will be further
restructuring of BMS European TDI portfolio
following the closure of the old Dormagan facility
and the transfer of staff to the new facility there.
In this March, Bayer cancelled plans to close
its 160 kt TDI plant at Brunsbüttel, Germany by
the end of 2014 due to strong demand from the
bedding and upholstery sectors. The site at
Brunsbüttel is planned to be converted to
produce MDI. After Bayer inaugurated new TDI
plant in Dormagen, Thomas said they will close
Brunsbuttel at the right time.
Bayer Offers Materials for the World Cup
Stadiums in Brazil 2014/6/20
Brazil has modernized and expanded its
infrastructure in preparation for the 2014 Soccer
World Cup and other major athletic events. One
main area of activity was the renovation and
construction of sports stadiums. Clever material
solutions from Bayer MaterialScience are
contributing to the comfort and safety of
spectators, in everything from floors to roofing.
One example is the “Estadio Nacional” in
Brasilia. The capital of this emerging nation lies
in a tropical climate zone with high temperatures
and heavy precipitation. Transparent solid
sheets made of polycarbonate protect the
70,000 spectators in the stadium from sun and
rain. The Makrolon® UV 2099 sheets have UV
protection on both sides that survives years of
weathering without damage. With a
transparency of over 80 percent, the sheets
simultaneously promote grass growth.
The team of architects from gmp (Architects
von Gerkan Marg and Partner) and Castro Mello
Arquitetos have designed a beautifully shaped
roof for the stadium. It is a circular suspension
roof comprising double-walled structure held in
place by a concrete ring. The final inner ring of
the stadium roof in Brasilia consists of 110 metric
tons of Makrolon® sheets, with each sheet 12
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millimeters thick and over 10 meters long. The
sheets cover a total surface area of roughly
7,500 square meters. Because polycarbonate is
significantly lighter than other materials, a
complex and costly substructure was
unnecessary.
Makrolon® sheets not only can be easily
installed directly at a construction site, they are
also sturdy, highly impact-resistant and
breakproof, making them a lasting and
cost-efficient solution that has proven its worth
in previous new stadium structures, for example
in China and Poland.
The “Arena das Dunas” in Natal City on the
coast of Brazil is another World Cup stadium that
benefits from the outstanding properties of
transparent Makrolon® sheets. In the “dune
stadium” it is the extraordinary flexibility of
design that comes to the fore as none of the 20
individual segments is the same. Stable and
strong, the sheets of the roof over the arena
have different radii.
Raised floor markings
Before kickoff, before the players clear a
path to their opponent’s goal, a sea of fans will
pour into the stadiums to find their seats in the
stands. For the blind and visually impaired,
situations of this kind can quickly become a
nightmare: Among the jostling of the crowd,
they can progress only slowly and must try to
find their way with
their limited sight.
To help them, the
World Cup organizers
have installed an
innovative wayfinding
system on the floors in
the public areas of
several stadiums. It comprises colored plastic
panels with bumps and ridges that are raised a
few millimeters and can easily be detected with
the feet. This kind of tactile feedback helps
people walking over the panels to keep their
bearings. Bayer MaterialScience developed a
material solution for the flooring based on the
thermoplastic polyurethane (TPU) Desmopan®
DP 3059D.
BMS to Invest EUR 15 Mln for CO2 Polyols
Production 2014/5/15
The greenhouse gas carbon dioxide can be used
as a basic building block for plastics. Following a
successful test phase and promising market
analysis, Bayer MaterialScience plans to invest
EUR 15 million in the construction of a production
line at its Dormagen site, which will use CO2 to
produce a precursor for premium polyurethane
foam. The line will have an annual production
capacity of 5,000 metric tons. The permit
application will be submitted to the Cologne
district authority in the next few weeks. The
objective of the “Dream Production” project is to
launch the first CO2-based polyols on the market
starting in 2016. Processors of polyols and
polyurethanes have already expressed
considerable interest.
High-quality polyols based on CO2 are not
currently available on a commercial scale. The
new polyols from Bayer MaterialScience have at
least the same high level of quality as
conventionally manufactured materials and a
more sustainable impact. Using a certain amount Back
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of CO2 as a building block enables a reduction in
the amount of the petroleum-based raw material
propylene oxide, which polyols are normally
made entirely from. The CO2 balance of the new
process is far better than that of the conventional
production method.
Successful with partners
Bayer MaterialScience developed the
manufacturing process in collaboration with
partners in industry and academia. The company
discovered the catalyst that brings about the
chemical reaction with the required level of
efficiency, and developed it together with the
CAT Catalytic Center, a research facility in
Aachen, Germany. The process was tested
extensively in a pilot plant at the Leverkusen site
as part of the publicly funded Dream Production
research project. This was accompanied by a
study of market demand.
Vencorex Announces Increased Capacity of
Isophorone Diisocyanate & Expansion of IPDI
2014/12/8
PUdaily, Shanghai-In March, 2014, Vencorex
is studying the closure of production of its
toluene diisocyanate (TDI) at its Pont-de-claix,
France, which results in hundreds of layoffs,
according to a report said in French.
The manufacturer is said to have been under
challenging business circumstance for TDI since
the global financial crisis in 2009 and the
company has been suffering of constant deficit.
According to the French report, Vencorex
will transformer the facilities of TDI after closure
to HDI. The nameplate TDI capability is 126 kt
per annual, HDI capability is 25 kt per annual.
In this early Nov., Vencorex is expanding its
capacity of aliphatic isocyanates to further
strengthen the company’s positions world-wide.
Several industrial projects will enhance the
ability to serve the growing market for years to
come.
Vencorex’s objective is to strengthen its
global position in Aliphatic Isocyanates business.
(HDI, IPDI, Tolonate™ & Easaqua™ grades and
new products). The first step includes an
expansion of the monomer capacity in Pont de
Claix, France by 70,000 MT and a new derivative
unit, Tolonate™, with 12,000 MT initial capacity
in Rayong, Thailand. The derivative unit in
Thailand will be operational by the second half of
2015 while the additional monomer capacity will
be available from mid-2016.
Vencorex will also invest in new production
of polyisocyanates, Easaqua™, for waterborne
PU coatings in Freeport, Texas.
In addition to the capacity expansions,
Vencorex will also further strengthen its R&D
capabilities and global Marketing & Sales
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organization.
On Dec. 8, Vencorex is significantly
expanding its capacity of Isophorone
Diisocyanate (IPDI).
The expansion of this monomer capacity will
take place at Pont de Claix site, France. The new
capacity will be 20 kT to be available by the end
of 2016. IPDI is an aliphatic isocyanate monomer
used as raw material in the synthesis of
polyurethane resins (PUR).
Vencorex is a joint venture between Thailand
PTT and Sweden Perstorp, whose stock share is
51% and 49% respectively.
Albemarle and ICL Partner to Set up Polymeric
Flame Retardant Joint Venture 2014/9/2
Albemarle and Israel Chemicals (ICL) have
partnered to set up a joint venture (JV) to
produce polymeric flame retardants in the
Netherlands and Israel.
The Netherlands facility will produce 2,400t
of ICL's FR-122P and Albemarle's GreenCrest
polymeric flame retardants, which will replace
hexabromocyclododecane (HBCD).
Expected to commence operations in the
fourth quarter of this year, the Israel plant will
have an annual production capacity of 10,000t.
HBCD is a widely used flame retardant in
expanded (EPS) and extruded (XPS) polystyrene
foam applications, but the compound is being
banned in the European Union, Japan and other
countries.
The companies will continue to offer
independent marketing, sales and technical
service across the world in order to ensure a
smooth transition of EPS and XPS producers to
the polymeric flame retardant.
Bostik Introduces A New, High Performing
Adhesive for Buildings and More 2014/8/11
Bostik, one of the worldwide leader in
adhesive and sealant technology, announces a
new, high performing adhesive for product
assembly applications. The H20182 is the latest
innovation in HMPSA technology from Bostik.
Bostik chemists engineered the H20182
smart adhesive to meet the evolving demands of
adhering to difficult substrates while maintaining
bond performance properties at low
temperatures. Not only can the H20182 be used
for indoor finished goods, it can also be used in
some outdoor applications including field turf,
non-structural window and door assemblies,
insulation, and similar building materials. With
an aggressive hot tack and a relatively low
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viscosity, the high performing product has a wide
processing window in both spray and extrusion
equipment.
CJSC Orgsyntes Group to Invest over $280ML in
MDI Production 2014/4/24
CJSC Orgsyntes Group is introducing a
project for the production of Methylene diphenyl
diisocyanate (MDI) with an output capacity of
100 ktpa in their Novocheboksarsk plant, OJSC
Khimprom.
The proposed project for the production of
MDI consists of the additional production of
several new products such as nitrobenzene (100
ktpa), aniline (75 ktpa), formalin (from methanol)
(40 ktpa), as well as carbon monoxide and
hydrogen from the steam reforming of methane.
MDI (Methylene diphenyl diisocyanate) is
widely used in construction (thermal and
acoustic insulation, foam, sandwich-panels),
wood composite production (chipboard, strand
board, fiberboard), decorative interior items
production, automotive production (interior
items, auto components), as well as the
production of elastic fibers, glue, paint, shoe
soles, artificial leather and a variety of other
unique industry applications.
Nowadays, production of MDI in the Russian
Federation as well as other CIS countries is
non-existent, making the market entirely import
dependent.
Yulia Smolina, Chief Financial of CJSC
Orgsyntes Group, when commenting on the
progress of the project said the following:
Earlier this year CJSC Orgsyntes Group
announced a $150mln investment in the
production of
glyphosate, as well
as an $87 mln
investment into
hydrogen peroxide
production facility,
the construction of
which is planned to
begin in June.
COIM to Expand Europe Polyester Polyols
Capacity 2014/03/12
Global polyurethane chemicals producer,
announced today it will break ground to expand
its European polyester polyols manufacturing
capacity in Offanengo, Italy.
The investment is expected to be completed
by September 2015 and will increase the
capacity of aliphatic and aromatic polyester
polyols by 35,000 metric tons.
"The growing demand of COIM’s aliphatic
and aromatic polyester polyols will soon saturate
the actual polyester polyols capacity”, said Lucio
Siano, C.E.O. of COIM. “This decision
demonstrates COIM’s commitment to the
European rigid foam insulation market, C.A.S.E.,
footwear applications as well as captive use."
Financial details are not being disclosed.
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Dow Automotive Systems launches Amine
Emission-free PU Foam for Interiors 2014/8/6
Dow Automotive Systems, the
Switzerland-based division of Dow Chemical, has
launched what it describes as the first truly
viable amine emission-free polyurethane (PU)
foam solution for interior applications. This
technology enables automotive seat pad foams
to meet stringent industry requirements such as
German OEMs’ specifications for ultra low
emissions, physical and mechanical properties,
and ageing and processing advantages.
The new foam has been tested and validated
by Faurecia, the French maker of automotive
seating, at its foam production facility in
Magny-Vernois.
Traditionally PU foams require amine
catalysts to promote reaction between polyols
and water with the isocyanate component (the
gelling and blowing reactions). Until now, these
added catalysts have contributed to amine
emission issues that can impact on the physical
performance of PU foam over time.
Dow Automotive Systems has designed a
new additive polyol family with high and
specifically balanced catalytic activity. This
allows foam makers to completely eliminate the
addition of catalysts when manufacturing PU
foam and thereby eliminates amine emissions.
The company claims the new additive polyol
family results in an improved processing window
and improved ageing and mechanical properties
of foams based upon Specflex Activ.
India launches Anti-dumping Probe into
Chemical Imports from China and Switzerland
2014/7/31
The Directorate General of Anti-Dumping
and Allied Duties (DGAD), an arm of the
Commerce Ministry of India, has launched an
anti-dumping probe over imports of
Diketopyrrolo Pyrrole Pigment Red 254 from
China and Switzerland.
The move comes after a domestic producer
filed a petition with DGCA over alleged dumping
of the chemicals into India.
Diketopyrrolo Pyrrole Pigment Red 254 is a
chemical primarily used in the paint industry.
DGAD said that it has found sufficient
evidence of dumping from China and Switzerland.
The agency is verifying the import data from
January 2013 to December 2013 and will also
consider the data of 2010-11 and 2011-12 to
evaluate its impact on domestic producers.
Following the investigation, DGAD could
recommend an anti-dumping duty, which will be
imposed by the Finance Ministry.
Jowat Establishes New Business Unit Global
Product Marketing 2014/3/14
Jowat has established the new Global
Product Marketing business unit with the
objective of accelerating the market maturity of
new innovative adhesive systems.
Product marketing, product portfolio, and
management of innovations, are the core tasks
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of the newly created business unit of Jowat AG.
Timm Schulze took over as head which makes
him also responsible for all activities with
solution partners. The Global Product Marketing
operates worldwide and across all industrial
sectors, with the objective of accelerating the
market maturity of new innovative adhesive
systems.
PTT Global Chemical Increases Stake in French
Chemical Firm Vencorex 2014/9/2
PTTGC Netherlands, a wholly-owned
subsidiary of Thailand's chemical producer PTT
Global Chemical (PTTGC), has acquired
Perstorp's 34% stake in French chemical maker
Vencorex for an undisclosed amount. The
European Commission approved at the end of
July under the EU Merger Regulation the
acquisition of Vencorex of France by PTT Public
Company Limited of Thailand, via its Dutch
subsidiary PTTGC International.
The deal will increase the Thai company's
interest in Vencorex to 85% and strengthens its
presence in the downstream polyurethane
market.
The acquisition will allow the company to
expand production of Toluene diisocyanate (TDI)
and Hexamethylene diisocyanate (HDI) and its
derivatives in order to meet demand in Asian
markets.
TDI, HDI and its derivatives are used as
feedstock in manufacturing polyurethanes,
which are used in foams and coatings for the
automobile and construction industries.
PTTGC Netherlands has made an initial
payment for the stake; the remaining amount
will be calculated based on the performance of
Vencorex Holding during this year and 2015 and
will be paid at a later date.
PTTGC said it will support Vencorex as a R&D
centre for isocyanate.
Perstorp president and CEO Jan Secher said:
"This financial transaction is fully in line with
Perstorp's long-term strategy to focus on its core
business activities outside the isocyanates
market."
Perstorp Holding and PTTGC formed a joint
venture in May 2012 and named it Vencorex
Holding.
Following the completion of the latest deal,
Perstorp will continue to support Vencorex as the
new strategy is being implemented and the
transaction will enable Vencorex to invest in
downstream isocyanates.
PTTGC operations comprises upstream
business with a petrochemical capacity of 8.2
million tonnes per year and a petroleum products
capacity of 228,000 barrels per day;
downstream business, which includes polymers;
EO-based performance; green chemicals and
high-volume specialities.
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Sabic and Shell Cancel Sadaf JV Expansion
2014/10/27
Saudi Basic Industries Corp and Royal Dutch
Shell have cancelled plans to expand an existing
petrochemical joint venture in Saudi Arabia
following feasibility studies.
The two partners in the joint project, known
as SADAF joint venture in Jubail, on the Gulf
coast of Saudi Arabia, first announced plans to
explore an expansion of their petrochemical
plant in 2012.
The expansion was due to add polyols,
propylene oxide and styrene monomer.
SAPICI to Expand Aliphatic Prepolymer in Italy
and China by End 2014 2014/2/11
Sapici has announced plans to increase
aliphatic isocyanate prepolymer in Italy and
isocyanate prepolymer capacity in China by the
end of 2014.
The investment will see more capacity at the
firm’s San Cipriano Po, Pavia, said the company.
The Italian plant opened in 2004. More capacity
is planned for Zhuhai, Guangdong, China factory,
which opened in 2006 is also scheduled, said the
firm.
Sapici general manager Cristian Furiosi
described the investments as “significant” but
the firm declined to quantify them. He added
that the increase in Sapici’s isocyanate
prepolymer and hardeners for coating and
adhesives production at Zhuhai would allow the
company to produce a wider range of specialty
and customised products for the Asian market.
He said San Cipriano Po will synthesise 100%
solid content products for coatings.
SAPICI Waterborne Adhesives for Flexible
Packaging Help Nurturing Industrial Innovation
2014/7/21
SAPICI competence, passion and continued
investment in research
and development not
only allow the
Company’s clients to
access new,
sustainable and
effective products and
solutions, but they also
make available
advanced formulations for R&D activities carried
on by Universities and other international
organizations.
This is the case of a research project
conducted by the Department of Food,
Environmental and Nutritional Sciences –
Packaging Division, of the University of Milan,
Italy. Coordinated by Prof. Luciano Piergiovanni,
the project has investigated the possibility of
laminating polyester CNC (Cellulose
Nano-Crystals) coated films to a polyolefinic
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layer by using special waterborne adhesives.
In fact, the laminates properties are directly
related to the affinity between the laminating
film, CNCs and the selected adhesive that
represents a key element in the final structure.
The best results in terms of oxygen-barrier and
mechanical properties have been obtained with
the combination of PET coated (CNCs) / PE.
SAPICI waterborne specific polyurethane
adhesives for flexible packaging have
contributed to both the effectiveness and the
sustainability values of the studied solutions.
The positive and promising results of the
project, aimed at evaluating the feasibility for
demanding food packaging of novel multilayer
structures, make it possible a complete low
impact process: CNCs, the perfect efficiencies of
nanotechnologies from renewable resource,
no-emission waterborne adhesives, one plastic
barrier film less. The final packaging (PET / CNC
/ waterborne PUD adhesive / PE) shows
incredible gas and vapor barrier, and it is now
opening new sustainability routes for the food
packaging industry.
The innovative R&D project "Strategies for
Implementing Nano-Cellulose Coatings in
Flexible Packaging" was presented during the
6th Edition of the Shelf Life International Meeting
held on June 11-13, 2014 in New Brunswick,
New Jersey, USA.
Shell Two PO/SM Plants in Moerdijk Experienced
Long Unplanned Shutdown in H2 of 2014
2014/12/24
PUdaily, Shanghai-Shell propylene
oxide/styrene monomer (PO/SM) 1 plant at
Moerdijk site in Netherlands was taken off-line
after steam leakage happened at cracker in the
site on Oct. 2 and it has resumed production in
December
Shell declared force majeure on Oct. 4 on
ethylene and propylene at its 900,000 tons/year
steam cracker at Moerdijk; ethylene and
propylene are both raw materials to make
propylene oxide and styrene monomer is
produced as byproduct.
Another production line at the site called
PO/SM 2 was shut down in June due to
unexpected blast
happened on June
3 that caused
severe damage to
the plant. BASF SE
declared force
majeure on
propylene oxide supply on June 4, “current view
product availability will remain to be impacted
until at least the end of 2014…Therefore, we will
have to leave in place the allocation of 55% of
the contract quantity in the first 5 months of
2014,” quoted from the company statement.
However, it has yet to resume as of Dec. 31,
2014.
PO/SM 1 is run by Shell Netherland Chemie
and has a capacity of 210 kt (PO) and 450 kt
(SM). The second plant, operated by Ellba, the
joint venture between BASF and Shell Chemicals,
has a capacity of 250 kt (PO) and 550 kt (SM).
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Vencorex Announces Increased Capacity of
Isophorone Diisocyanate & Expansion of IPDI
2014/11/3
PUdaily, Shanghai-In March, 2014, Vencorex
is studying the closure of production of its
toluene diisocyanate (TDI) at its Pont-de-claix,
France, which results in hundreds of layoffs,
according to a report said in French.
The manufacturer is said to have been under
challenging business circumstance for TDI since
the global financial crisis in 2009 and the
company has been suffering of constant deficit.
According to the French report, Vencorex will
transformer the facilities of TDI after closure to
HDI. The nameplate TDI capability is 126 kt per
annual, HDI capability is 25 kt per annual.
In this early Nov., Vencorex is expanding its
capacity of aliphatic isocyanates to further
strengthen the company’s positions world-wide.
Several industrial projects will enhance the
ability to serve the growing market for years to
come.
Vencorex’s objective is to strengthen its
global position in Aliphatic Isocyanates business.
(HDI, IPDI, Tolonate™ & Easaqua™ grades and
new products). The first step includes an
expansion of the monomer capacity in Pont de
Claix, France by 70,000 MT and a new derivative
unit, Tolonate™, with 12,000 MT initial capacity
in Rayong, Thailand. The derivative unit in
Thailand will be operational by the second half of
2015 while the additional monomer capacity will
be available from mid-2016.
Vencorex will also invest in new production
of polyisocyanates, Easaqua™, for waterborne
PU coatings in Freeport, Texas.
In addition to the capacity expansions,
Vencorex will also further strengthen its R&D
capabilities and global Marketing & Sales
organization.
On Dec. 8, Vencorex is significantly
expanding its capacity of Isophorone
Diisocyanate (IPDI).
The expansion of this monomer capacity will
take place at Pont de Claix site, France. The new
capacity will be 20 kT to be available by the end
of 2016. IPDI is an aliphatic isocyanate monomer
used as raw material in the synthesis of
polyurethane resins (PUR).
Vencorex is a joint venture between Thailand
PTT and Sweden Perstorp, whose stock share is
51% and 49% respectively.
Wanhua Chemical and Hungary BorsodChem M
erger Plans on Hold 2014/2/25
Wanhua Industrial Group said it has no plans
to merge its Wanhua Chemical subsidiary with
Hungary’s BorsodChem in 2014.
Wanhua Industrial stated, shortly after it
purchased a 96% stake in BorsodChem in
January 2011, was that it would merge Wanhua
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Chemical and BorsodChem when the correct
conditions were met.
One of the key conditions was that
BorsodChem would make sufficient profit.
Wanhua initially suggested it would like to merge
the units by August 2012. According to figures
filed in Hungary in 2012 BorsodChem had sales
of Euro 14.28m ($19.7m) and made an
operating profit of Euro 16,400. 2012 is the last
year for which figures are available
Wanhua declined to comment on when it
expects to see an improvement in performance
at BorsodChem.
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Dow and KDG Build PU Distribution Partnership in U.S.
Dow-Mitsui Chlor-Alkali Facility Achieves Successful Start-upBASF to Build
Huntsman Experiences PO/MTBE Manufacturing Disruption in Q2 and Q3, 2014
Huntsman MDI 2013 Sales Volume Grew 8% YOY
Huntsman to Expand Polyols for PU in the Port of Rotterdam
Wanhua to Increase Price of Wannate HMDI Worldwide
Wanhua-BorsodChem Sets Office in Brazil
Arkema Opens New Development and Application Laboratory in Brazil
Brief Analysis of Influence of US MDI Force Majeure on Global Market
Bayer MaterialScience Acquires DuPont's Aniline Production Facility in Baytown
China’s Anti-Dumping against TDI from Japan, South Korea and US Terminated
Honeywell Resins and Chemicals to Increase Production Capacity at Virginia Plant
INVISTA’s Latest TERRIN™ Polyol Offering Completes TSCA Registration
Japanese PP Compounder Expanding in US, China; Targets Auto Sector
Lanxess Launches New Compounding Plant in Brazil Aimed at Auto Market
LyondellBasell to Build World Scale PO/TBA Plant on U.S. Gulf Coast
PPG to Invest $40 Million in Coatings Facility Expansion in Brazil
PolyOne Closing Two Plants in Brazil
Royal Adhesives & Sealants Acquires Chemque
US PU Foam Market to Reach $7.2bn in 2017
Visteon Completes Acquisition of Electronics Business of Johnson Controls
15/27
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Dow and KDG Build PU Distribution Partnership
in U.S. 2014/1/17
The Dow Chemical Company has announced
that they have partnered with KODA Distribution
Group (KDG) to form an alliance in the U.S. for
the supply of Isocyanates and Polyols to the
Polyurethane market.
The partnership includes all the Aromatic
Isocyanates and Polyols sold under the Dow
brands ISONATETM, VORANATETM, PAPITM,
VORANOLTM and VORALUXTM.
The non-exclusive agreement between Dow
and the KDG companies covers Polymeric MDI,
polyols and TDI. The authorization becomes
effective January 1, 2014 and includes the
following regions:
Ribelin Sales - Southeast and Southwest
PT Hutchins Company - West
Dow-Mitsui Chlor-Alkali Facility Achieves
Successful Start-up 2014/4/1
The Dow Chemical Company (NYSE: DOW)
announced today that its joint venture
membrane chlor-alkali facility with Mitsui & Co.,
Ltd. of Tokyo, Japan (“Mitsui”) successfully
initiated full-scale, commercial production.
Dow’s share of the chlorine produced at the
Dow-Mitsui Chlor-Alkali Freeport, Texas, facility
will serve the growing feedstock needs of its
performance- and market-driven businesses. In
addition, Dow will market the caustic soda on
behalf of the joint venture.
The new facility has a nameplate capacity of
approximately 800 kilotons per annum (KTA) of
chlorine. As previously announced in December,
2013, this new world scale facility will replace
800 KTA of older capacity on the site.
Huntsman Experiences PO/MTBE Manufacturing
Disruption in Q2 and Q3, 2014 2014/8/18
Huntsman Corporation announced on June
19 that during the second quarter of 2014 it
experienced an unplanned manufacturing
disruption within its Polyurethanes division.
The disruption occurred at its propylene
oxide and MTBE facility in Port Neches, Texas.
The manufacturing facility recovered normal
operating rates in mid-to late June. The
estimated financial impact of the manufacturing
disruption in the second quarter of 2014 was
approximately $10 million.
On August 14, Huntsman experienced
another unplanned manufacturing disruption on
a production unit at the Port Neches facility and
was caused by equipment failure.
The Port Neches facility manufactures
methyl tertiary butyl ether (MTBE), propylene
oxide (PO) and propylene glycols (PG). The
manufacturing disruption also impacts internal
PO supply to downstream MDI systems, amines,
surfactants and propylene oxide
derivatives. The affected unit is expected to be
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off-line for two to three weeks, with an estimated
negative impact of $30 million EBITDA for
Huntsman’s Polyurethanes and Performance
Products divisions.
The plant has propylene oxide (PO) capacity
of 240 kt per year and by-product MTBE at 742 kt
per year. It is yet to be determined whether this
will impact the planned maintenance scheduled
for the first half of 2015.
Huntsman MDI 2013 Sales Volume Grew 8%
YOY 2014/2/12
Huntsman’s full year and final quarter report
reflect an increase in demand for polyurethanes,
the company said.
The company reported revenues of $1.23bn
(EUR800m) in final quarter of last year compared
to $1.18bn in the final quarter of 2012, a hike of
4% or $48m.
Polyurethanes sales revenues rose by 1%
from $4.89bn in 2012 to $4.96bn in 2013.
The increase in polyurethanes revenues was
primarily due to higher sales volumes and
favourable sales mix partially offset by lower
average selling prices.
Huntsman’s MDI (methylene diphenyl
diisocyanate) sales volumes increased 8%
against prices which the report said had
remained “essentially flat.” The company said
the hike was the result of improved demand in all
regions and across most major markets.
Polyurethane earnings before interest, tax,
amortisation and depreciation stood at $173m
for the final quarter of 2013 compared to $190m
during the same period in 2012.
Over the full year, there was a 6.4% drop in
polyurethanes pre-tax earnings between 2012
($788m) and 2013 ($740m).
Huntsman to Expand Polyols for PU in the Port of
Rotterdam 2014/5/13
Huntsman and Tebodin signed partnership
contracts on all engineering projects for
Huntsman Holland on an EPCm (Engineering,
Procurement, Construction management) basis
as well as on Consultancy services. The contracts
cover the cooperation of the companies for 5
years, according to press release at Port of
Rotterdam.
Huntsman Holland is located in the Botlek
area in the port of Rotterdam with a 85 hectare
site on which it produces differentiated chemicals.
Tebodin has supported with comprehensive
EPCm services in the construction of a MDI
Splitter unit(Keystone project) in 2013. The unit
is designed to handle globally sourced MDI
(methylene diphenyl diisocyanate) precursor.
Project Capstone will be commissioned in the
next months and provides a more efficient
manufacturing expansion within the existing
polyols facility.
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Wanhua to Increase Price of Wannate HMDI
Worldwide 2014/12/15
With effect from January 1st, 2015, or as
contracts allow, Wanhua will increase price of
Wannate HMDI by 10 percent worldwide.
Price increase is necessary due to the current
market situation, significantly higher raw
materials cost and rising cost of environment,
health and safety.
Wanhua-BorsodChem Sets Office in Brazil
2014/3/24
Wanhua-BorsodChem has opened a
representative office in Sao Paulo, Brazil, the
company said. It added that the office will be
headed by Susana Balada, General Manager who
joined BorsodChem in 2008.
Wanhua-BorsodChem said that the new
office helps to make its global network more
complete and demonstrates its commitment to
the South American region.
Wanhua claims to be the world’s largest MDI
producer and fastest growing marketer of
polyurethane materials . It acquired
BorsodChem in 2011. BorsodChem is the sole
isocyanate producer in Central Eastern Europe
and largest TDI producer in EMEA region, said
Wanhua-BorsodChem.
Wanhua owns intellectual property rights,
leading global technology and the most
integrated isocyanate manufacturing complex in
the world today with significant influence on the
worldwide PU market.
Arkema Opens New Development and
Application Laboratory in Brazil 2014/4/28
Arkema has opened a new development and
application laboratory at its Araçariguama plant
in Sao Paulo, Brazil, dedicated to the Arkema
Coating Resins and Coatex businesses. Arkema
Coating Resins is a business unit of Arkema;
Coatex is a subsidiary of Arkema Group.
The new facility will focus on innovation and
technical customer support across several
market segments, including coatings, adhesives,
construction, textiles, mineral processing, paper
and graphic arts. More than 150 agents,
authorities, suppliers and partners were invited
to attend an opening ceremony at the new
facility on April 23, 2014.
Arkema has invested approximately $2.5
million to construct and equip the new lab, which
opened on April 23. Tests performed at the
facility will include methods crucial to customer
applications, including: chromatography, glass
transition temperature, metal finishing
technology (MFT), rheometer – RheoStress 6000,
CEM – Smart 5, scrub resistance, washability,
peel, shear, tack, elongation, traction and
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particle size.
Brief Analysis of Influence of US MDI Force
Majeure on Global Market 2014/9/19
PUdaily, Shanghai-On September 9, due to a
critical raw materials curtailment, Bayer
MaterialScience was enforced to declare Force
Majeure on all the MDI products, with immediate
effective. The affected production is at the
Baytown, Texas plant.
Meanwhile, BASF also declared Force
Majeure for all MDI products in the plant of
Louisiana due to unforeseen circumstances
beyond the control, effective from September 9,
2014.
BASF and Bayer are two major MDI
producers in US, with a total capacity of 560 kt
per year, taking up almost half of total capacity
in US. The force majeure occurring at the same
time has already exerted an immediate influence
in US MDI supply.
"Since Sep. 9, we received many emails and
calls from our customers in US, asking about
current MDI market in China." said PUdaily MDI
Market analyst.
She added, "Insiders from other regions also
pay a close attention to this event but compared
with US customers, their response is relatively
calm."
A MDI distributor based in Dubai thinks, "As
for the forced majeure in US, for sure it will be a
good news to the global market. But one thing
should be considered that US market is always
an independent market from other regions, like
Euro and Far East. So we cannot expect too
much influence to other regions, except North/
South America market." Another trader in Euro
also shares the same idea. However, its influence to Asian market, as
one of the major export destinations for US MDI,
is expected to gradually appear if the force
majeure lasts for a long time.
According to PUdaily, in 2013, US exported
around 33,000 tons of polymeric MDI to China
and about 18,000 tons to South Korea.
Meanwhile, US also imported around 49,000
tons from China. Along with shrinking MDI
supply in US, its export to China is likely to
decrease accordingly. Besides, MDI exporters in
China may also increase exports to US, which
should be a good chance for China market.
However, whether the increase in exports can
stimulate China market or not still remains to be
seen.
Another senior MDI analyst from
Chem366.com, a Chinese platform for PU market
said, "If the force majeure lasts for more than a
month, it’s undoubtedly a good news for the
market. On the one hand, Wanhua, the leading
MDI exporter in China, may increase exports to
US. On the other hand, the oversupply pressure
in China market is thusly relieved. However,
considering of commercial operation of
Wanhua’s new 600 kt MDI facility in Yantai by
end of Sep. and maintenance accomplish of
Japan NPU 200 kt MDI plant in early Oct., the
whole balance of supply and demand would have
no much change. Anyway, we don’t rule out the
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possibility of market hyping based on shortage
supply of some brands."
Bayer MaterialScience has lifted force
majeure on MDI in US, starting from Oct. 17,
2014 while BASF lifts MDI force majeure in US,
effective November 21, 2014.
Bayer MaterialScience Acquires DuPont's Aniline
Production Facility in Baytown 2014/3/5
Bayer MaterialScience LLC announced
Monday it has acquired DuPont's aniline
production facility in Baytown, Texas.
Aniline is a primary feedstock used to
manufacture methylene diphenly diisocyanate
(MDI), a chemical used to produce rigid
polyurethane foams for insulation in the
construction industry. The chemical is also used
to manufacture coatings, adhesives, sealants,
elastomers and binders.
"North America is poised for strong MDI
growth driven by recovery in the construction
market, energy code advancement and home
comfort trends,” Craig Caputo, vice president,
polyurethanes regional product manager, for
Bayer MaterialScience said in a statement. “This
strategic acquisition positions Bayer to meet this
growing demand while further strengthening our
leadership in the polyurethane industry.”
Bayer Materials Science, which has its North
American headquarters in Robinson, said the
aniline facility is located within Bayer's Baytown
plant, the company's largest U.S. manufacturing
facility. Since 2011, Bayer has invested roughly
$120 million in process, reliability and
environmental improvements at the plant.
Financial terms of the deal were not
disclosed.
China’s Anti-Dumping against TDI from Japan,
South Korea and US Terminated Effective from
Nov. 21, 2014 2014/11/20
PUdaily, Shanghai-On November 20, 2014,
the Ministry of Commerce of the People's
Republic of China (hereinafter referred to as the
"Ministry of Commerce") issued Announcement
No.73 of 2014, announcing that the
anti-dumping duties against imports of toluene
diisocyanate (TDI 80/20) originated in Japan,
South Korea and US will be terminated, effective
from November 21, 2014.
On November 20, 2009, Ministry of
Commerce issued Announcement No.92 of 2009,
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deciding to continue to impose aforesaid
anti-dumping measures; such anti-dumping
measures were extended for five years as of
November 21, 2009 and will expire on November
20, 2014.
On May 30, 2014, Ministry of Commerce
issued Announcement No.31 of 2014, saying
that the anti-dumping measures will expire on
November 20, 2014 and as of the issuance of the
Announcement, any natural person, legal person
or relevant organization in or on behalf of the
domestic industry may, at least 60 days prior to
the expiration of such anti-dumping measures,
apply for expiry review in written form to the
Ministry of Commerce.
During the period, no apply for expiry review
was put forward by domestic TDI manufacturers
nor the Ministry of Commerce actively initiated
such expiry review. In view of this, Ministry of
Commerce announced that the aforesaid
anti-dumping measures will be terminated,
effective from November 21, 2014.
Honeywell Resins and Chemicals to Increase
Production Capacity at Virginia Plant 2014/5/5
Honeywell Resins and Chemicals will ramp
up production capabilities at its facility in
Chesterfield, Virginia, with a new production line,
which will allow it to cater to the demand for
high-grade nylon polymers.
The expanded facility will produce both nylon
6 and copolymer nylon 6/6.6 resins, and will
have a capacity of 40,000t per annum (tpa).
Expected to commence production in the
fourth quarter of 2015, the new line will increase
capacity at the facility to 200,000tpa
Sold under the Aegis brand, Honeywell's
resins are used in various applications, such as
fibres and filaments for carpeting, fabrics, nets
and cords, as well as engineered plastic
components for automotive, consumer and
industrial applications, and films for food and
protective packaging.
Honeywell's Resins and Chemicals division
offers technology and customer-focused
application development services, and conducts
nylon-related R&D at technology centres in New
Jersey and Virginia, as well as in Shanghai,
China.
The unit provides caprolactam, ammonium
sulfate fertiliser and chemical intermediates,
including phenol, cyclohexanone and acetone.
INVISTA’s Latest TERRIN™ Polyol Offering
Completes TSCA Registration 2014/6/3
After introducing the TERRIN™ polyols brand
to the market in 2013, INVISTA recently
manufactured the first commercial batch of
TERRIN™ 170 polyol at its facility in Wilmington,
N.C., completing TSCA registration for the entire
TERRIN™ polyol family and placing it on the U.S.
Chemical Inventory. INVISTA continues its
commitment to sustainability and the
polyurethane industry by developing products
with recycled and renewable content.
The TERRIN™ product portfolio contains 100
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percent aliphatic polyester polyols that contain a
minimum of 50 percent recycled content—with
some containing renewable content, as well.
They can be used in lieu of or in combination with
conventional polyether or polyester polyols to
formulate a variety of polyurethane products.
TERRIN™ polyols are versatile materials that can
be used in applications ranging from viscoelastic
foam to spray coatings and adhesives to
elastomeric resins.
The TERRIN™ polyols team, as well as
INVISTA’s Terate® polyols and TERATHANE®
PTMEG teams, will be exhibiting at the Urethanes
Technology North America exhibition (booth 529)
June 4-5 at the Charlotte Convention Center in
North Carolina.
Japanese PP Compounder Expanding in US,
China; Targets Auto Sector 2014/11/14
Japan Polypropylene Corporation (JPP,
Tokyo; a joint venture of Mitsubishi Chemical
and JNC Corp.) has announced plans to expand
polypropylene (PP) compounding capacity in
North America and China in 2015. The new
capacity will supply automotive applications in
both markets.
Wholly-owned subsidiary Mytex Polymers
(Jeffersonville, IN,) will increase its capacity by
20,000 tonnes/year to reach 93,000 tonnes/year,
while Beijing Ju-Ling-Yan Co. Ltd, (55%-owned
by JPP) plans to raise capacity by 10,000
tonnes/year to reach 76,000 tonnes/year in
order to fulfill strong customer demand that is
currently seeing their respective plants run at full
rate. Further capacity expansions are planned
for 2016 at JPP's global compounding operations.
Furthermore, last February, the ownership of PP
compound and long glass fiber reinforced
PP-related companies operating outside Japan
was transferred from JPP's parent companies to
JPP itself in an initial step to transform the
company into a "One-Window Global Supplier" of
PP for automotive applications. The offshore
compounding facilities now under the control of
JPP include two in the US, three in China, and
one each in Thailand and India.
Tatsuo Suzuki, JPP Chief Executive states: "By
this integration, we are now ready to capture
global growth of automotive by utilizing JPP's
strong background of development and analysis
technology as well as bolstering laboratory
functions outside Japan. Capacity expansion is
one of our important decisions after the
integration. We will also maximize collaboration
with our parent companies."
Lanxess Launches New Compounding Plant in
Brazil Aimed at Auto Market 2014/4/14
Lanxess AG has officially opened its
auto-oriented thermoplastics compounding plant
in Porto Feliz, Brazil.
The Cologne, Germany, company said on
April 10 that the 20 million euro ($27.7 million)
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investment has initial annual capacity of 44
million pounds to compound nylon and
polybutylene terephthalate with additives and
glass fiber reinforcements in creating its
Durethan and Pocan brand materials. The
compounding operation will employ up to 50.
Lanxess first announced the project in
spring of 2013. Automotive is a fast growing
market in Brazil and Latin America, creating
demand for lightweight materials to replace
metals. Automakers also are promoting more
uniformity for components, opening up
opportunities for global suppliers in regional
markets.
Rising needs for high-performance plastics
has spurred Lanxess to expand capacity for the
polymers. A new nylon plant in Antwerp, Belgium,
underlines Lanxess’s focus on such plastics. The
new factory will have annual capacity of 200
million pounds when it starts up in the third
quarter of 2014.
Lanxess’s other operations in Porto Feliz
include rubber additives and components, and
inorganic pigments. The firm employs about
1,100 at seven sites in Brazil, which accounts for
about 9 percent of its global sales.
Lanxess’s performance polymers business
logged sales of 4.5 billion euros ($6.2 billion) in
2013. The polymers business is integrated with
other company units making glass fibers and
caprolactam monomer for nylon 6.
LyondellBasell to Build World Scale PO/TBA Plant
on U.S. Gulf Coast 2014/8/26
LyondellBasell (NYSE: LYB) announced plans
on Aug. 25 to build a world scale PO/TBA plant
on the U.S. Gulf Coast with an annual capacity of
900 million pounds of propylene oxide (PO) and 2
billion pounds of tertiary butyl alcohol (TBA) and
its derivatives. The preliminary timetable is to
have the plant operational in 2019. The project is
expected to generate up to 1,200 construction
jobs at its peak.
The plant is
expected to sell
PO in the global
marketplace to
meet growing
demand for
polyurethanes,
which are used primarily for the manufacture of
bedding, furniture, carpets and car seats. TBA
and its derivatives will be sold to meet the need
for high octane gasoline blending components as
well as for use in manufacturing synthetic rubber
and lubricant additives.
"While we have not finalized the exact
location of the plant, the abundant natural gas
liquids associated with shale gas make the U.S.
Gulf Coast an advantaged feedstock region,"
said Pat Quarles, LyondellBasell Senior Vice
President of Intermediates and Derivatives.
"This project combines our leading proprietary
PO/TBA technology with low cost feedstock and
demonstrates our continued commitment to
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capturing maximum advantage of market
opportunities."
LyondellBasell is one of the world's largest
plastics, chemical and refining companies. The
company manufactures products at 55 sites in
18 countries. LyondellBasell products and
technologies are used to make items that
improve the quality of life for people around the
world including packaging, electronics,
automotive parts, home furnishings,
construction materials and biofuels.
PPG to Invest $40 Million in Coatings Facility
Expansion in Brazil 2014/6/18
On June 17, PPG
Industries (NYSE:PPG)
announced an
investment of about
$40 million in its
coatings
manufacturing facility
located in Sumare, São Paulo, Brazil.
The expansion project will add a
65,000-square-foot plant for on-site resin
production. The resin will be used to
manufacture PPG’s electrocoat products to meet
growing demand among automotive original
equipment manufacturers (OEMs) and industrial
coatings customers in the region. PPG
anticipates completion of the project in 2015 and
expects to add more than 30 new positions at the
facility.
PolyOne Closing Two Plants in Brazil
2014/7/17
Materials maker PolyOne Corp. is closing
two of its four Brazilian plants in order to
streamline operations and improve its financial
performance in the region.
Avon Lake, Ohio-based PolyOne will close
plants in Diadema and Joinville, while continuing
to operate plants in Novo Hamburgo and Itupeva,
officials said in a July 15 news release.
The firm will see cash costs of about $5
million related to the closings and $12 million in
non-cash charges. In the release, President and
CEO Robert Patterson said that the asset
realignment will accelerate PolyOne’s specialty
strategy in Brazil. Officials added that PolyOne
will continue to invest in the Novo Hamburgo and
Itupeva sites.
PolyOne ranks as North America’s largest
compounder and concentrate maker and as one
of the region’s largest resin distributors. The firm
posted sales of $3.8 billion in 2013.
Royal Adhesives & Sealants Acquires Chemque
2014/9/4
Royal Adhesives & Sealants LLC (Royal) a
portfolio company of Arsenal Capital Partners
(Arsenal) announced that its subsidiary Royal
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Adhesives & Sealants Canada LTD will acquire
substantially all of the assets of Chemque.
Chemque, based in Toronto Canada, is a
major supplier of polyurethane foams and
adhesives to the telecom, flooring and
construction markets. This acquisition builds on
Royal's strong platform of leading adhesive,
sealant and coating solutions.
Since its acquisition by Arsenal, Royal has
grown organically and via acquisition. This is the
company's seventh add-on acquisition since
2010.
US PU Foam Market to Reach $7.2bn in 2017
2014/1/14
The US
polyurethane
foam market is
forecast to climb
at 5% annually to
reach a value of
$7.2bn (EUR
5.3bn) in 2017,
according to a latest study.
Polyurethane foam constitutes roughly half
of the US foam plastics market, which Freedonia
said will be worth $14.1bn in 2017 - a fifth bigger
than its value of $11.6bn in 2002.
The figure represents a significant
turnaround from the declines posted over the
2007-2012 period, said the report.
Boosts to the construction industry will
create greater demand for rigid polyurethane,
one of the most effective insulation materials
available for roof and wall insulation, insulated
windows and doors and air barrier sealants.
However, according to researchers, those
construction market gains will be threatened by
competition from fibreglass and foamed
polystyrene.
The focus on new housing will boost smaller
volume markets for rigid polyurethane foams
which include household products – both for
appliance insulation and furniture – packaging
and motor vehicles. Meanwhile, opportunities
will arise in bedding based on the expanding
consumer awareness of memory foam
mattresses as well as related products such as
mattress toppers and pillows.
According to the study, growth in the carpet
underlay segment will stem from construction
industry growth, particularly in the residential
sector as well as the increased use of higher-end
frothed polyurethane products.
Increased motor vehicle output also bodes
well for polyurethane seat cushioning although
gains will be tempered by the use of lighter,
thinner foam products and the popularity of
smaller, more fuel-efficient vehicles, which have
lower foam requirements than larger vehicles,
according to the report.
It predicts that packaging will remain the
leading outlet for plastic foam. The packaging
sector is less cyclical than others because of the
significance of nondurable goods such as food
however, the market is mature and will post
steady but below average advances through the
forecast period, the report said.
Gains will be constrained by ongoing
environmental concerns over the disposal of
packaging foams, which have resulted in the
establishment of bans against foam foodservice
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2014 PUdaily Newsbits: Europe & America
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containers in some areas, the report said.
Nevertheless, demand will continue to be
supported by the cost and performance
advantages of plastic foams over alternative
materials and by opportunities for foam used to
protect delicate items.
Visteon Completes Acquisition of Electronics
Business of Johnson Controls 2014-07-01
Visteon Corporation (NYSE: VC) today
announced that it has completed the acquisition
of the automotive electronics business of
Johnson Controls (NYSE: JCI), creating one of
the world's three largest suppliers of vehicle
cockpit electronics. The two companies
announced plans for the $265 million cash
transaction on Jan. 13.
The acquisition will enhance Visteon's
competitive position in the fast-growing vehicle
cockpit electronics segment by strengthening its
global scale, manufacturing and engineering
footprint, product portfolio and customer
penetration. The combined global electronics
enterprise has more than $3 billion in annual
revenue, with a No. 2 global position in driver
information and above-average growth rates for
the cockpit electronics segment, supplying nine
of the world's 10 largest vehicle manufacturers.
The business acquired Johnson Controls
provides automakers with driver information,
infotainment, connectivity and body electronics
products. The transaction involves about 5,000
employees, including approximately 1,000
engineers, electronics specialists and designers
in Europe, Asia and North America. Visteon's new
electronics business has 24 manufacturing
locations, eight global technical centers and
about 10,500 employees worldwide.
In the fiscal year ended Sept. 30, 2013, the
business acquired by Visteon generated
approximately $1.3 billion in revenue and
about$58 million in EBITDA (earnings before
interest, taxes, depreciation and amortization).
This EBITDA includes a deduction of
approximately $12 million for corporate
allocations that will not transfer with the
transaction. The transaction offers opportunities
for long-term margin expansion through
economies of scale, with estimated annual cost
synergies reaching more than $40 million by
2017.
Advising Visteon on the transaction were
Rothschild Inc. and Skadden, Arps, Slate,
Meagher & Flom LLP.
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