Chemical Week articles from February 2010

Chemical Week archives from February 2010

Recovery fueling M&A revival.(VIEWPOINT)(mergers and acquisitions)
February 22, 2010... Greater confidence is recovery should spark more M&A activity this year after a weak 2009. The total equity value of the deals totalled $25.4 billion in 2009, down from $39.7 billion in 2008, according to data from Young & Partners. Two...

Climate compromise?(Brief article)
February 22, 2010... Senator John Kerry (D., Mass.) says he is on track to introduce new climate legislation this year. Kerry is working with two other senators on a new climate bill that includes a price on carbon. The group met with Obama administration officials...

Flint acquires ink firm.(Brief article)
February 22, 2010... Hint Group (Luxembourg) says it will acquire Torda, a printing ink manufacturer based at Lund, Sweden. Financial terms were not disclosed. Torda generated 2009 sales of approximately 23 million [euro] ($31 million) and mainly serves the...

Catalyst advance.(Sachtleben Chemie GmbH joint venture with Kemira Oyj)(Brief article)
February 22, 2010... Sachtleben, Rockwood's titanium dioxide and functional additives joint venture with Kemira, says it has developed catalysts that convert industrial byproducts and algae to biodiesel, overcoming the need for expensive food crops such as cereal...

New BPA study.(Bisphenol-A)(Brief article)
February 22, 2010... ACC says a recent study has affirmed the safety of bisphenol A (BPA). Researchers assessed the potential for adverse neurological effects from dietary exposure to BPA. Based on maternal and offspring body weight reductions, the...

Lubrizol expects 32% earnings growth by 2012.(financial news)(Financial report)(Brief article)
February 22, 2010... Lubrizol says it expects earnings to reach $10/share by 2012, a 32% increase over 2009 results. "Our goal is to sustain operating margins in additives and we are targeting continued improvement in advanced materials margins, especially as we...

SQM cutting production at two mines.(Sociedad Quimica y Minera de Chile S.A.)(Brief article)
February 22, 2010... Sociedad Quimica y Minera de Chile (SQM) says it will suspend operations at its El Toco, Chile and Pampa Blanca, Argentina mining facilities due decreased global demand for nitrates and iodine. Lower sales volumes over the last 15 months have...

DuPont performance polymers to grow 12%.(E.I. du Pont de Nemours and Co.)(Financial report)(Brief article)
February 22, 2010... DuPont says it expects its performance polymers business to grow sales by more than 12% in 2010 while increasing margins. The increase will be fueled by growth in emerging markets, economic recovery, new products and continued cost and working...

Lithium mining firm acquires assets in Peru.(Brief article)
February 22, 2010... Lithium mining firm Li3 Energy (Lima, Peru) says it has acquired three Peruvian lithium and potassium prospects from an undisclosed source. The assets include the Loriscota project at Puno, Puru; Suches project at Tacna, Peru; and Vizcachas...

Canpotex settles Indian potash contract.(Brief article)
February 22, 2010... Canadian potash cartel Canpotex says it has signed a contract to supply a consortium of Indian buyers a total of 600,000 m.t. of potash through June of this year for $370/m.t. The price is higher than analysts speculate Canpotex secured for a...

Braskem, Idesa confirm plans for world scale complex in Mexico.
February 22, 2010... Braskem and Idesa have approved a joint venture to build 1-million m.t./year ethylene complex at Coatzacoalcos, Mexico. Braskem and will hold a 65% stake in the venture, Idesa 35%. Mexico's state owned oil firm Petroleos Mexicanos (Pemex) so far...

Total seeks to acquire PS plants in Belgium from Polimeri Europa.(Total Petrochemicals Sdn. Bhd.)(polystyrene Plants)(Brief article)
February 22, 2010... Total Petrochemicals has announced its intention to acquire two of the three polystyrene (PS) plants that Polimeri Europa (Milan) plans to close at Feluy, Belgium. Total currently operates the three PS units at Feluy on behalf of Rolimeri. One...

LyondellBasell to close PP plant in Italy.(Brief article)
February 22, 2010... LyondellBasell has told trade unions in Italy that it plans to close its 255,000-m.t./year, Spheripol-process polypropylene (PP) plant at Terni, north of Rome, before the end of this year. The plant has about 120 direct employees. The company...

BASF cautious on M&A; reviews Ciba sites.(Brief article)
February 22, 2010... [ILLUSTRATION OMITTED] BASF is unlikely to acquire another major chemical producer in the near future, but it is looking at what assets are on the market, even during the economic downturn, says chairman Jurgen Hambrecht. He was responding to...

Ineos closes PVC plant.(polyvinyl chloride)(Ineos Chlor)(Brief article)
February 22, 2010... Ineos ChlorVinyls, an Ineos subsidiary, says it will stop producing polyvinyl chloride (PVC) at its Barry, U.K. plant due to declining demand. Production will cease by the end of the second quarter, Ineos ChlorVinyls says. The company will...

SNPE to sell Isochem.(Societe Nationale de Poudres et Explosifs S.A. acquired with Isochem Fine Chemicals)(Brief article)
February 22, 2010... SNPE (Paris) has confirmed that the company will sell its Isochem fine chemicals business to private equity firm Aurelius (Munich) (CW, Dec. 21/28, 2009, p. 16). The purchase price and terms of the agreement were not disclosed, but recent French...

Brenntag IPO by mid-year.
February 22, 2010... Brenntag confirms that its previously announced initial public offering (IPO) will take place in the first half of 2010 (CW, Sept. 28/Oct. 5, 2009, p. 7).The company says it plans to raise about 500 million [euro] ($676 million) via the IPO,...

Yara International to buy Terra Industries for $4.1 Billion.(TOP OF THE WEEK)(Terra Industries Inc. acquired with Yara International ASA)
February 22, 2010... Yara International (Oslo), the biggest producer of nitrogen fertilizers, has agreed to buy Terra Industries for $4.1 billion in cash, just weeks after CF Industries abandoned a hostile bid to buy Terra. The transaction is one of a number of...

Airgas urges shareholders to reject Air Products bid.(TOP OF THE WEEK)(Air Products and Chemicals Inc. acquired with Airgas PLC)(Brief article)
February 22, 2010... Airgas' board has recommended that shareholders reject Air Products' hostile offer to acquire Airgas. Air Products launched its hostile bid after Airgas rebuffed its unsolicited $60/share proposal on February 4 (CW, Feb.8/15, p. 6). "The Air...

LyondellBasell settles creditor suit, Reliance ups bid.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 22, 2010... Reliance Industries has increased its bid by $1 billion to $14.5 billion for a P controlling stake in LyondellBasell, according to sources familiar with the situation. The revised offer will allow LyondellBasell creditors to opt for cash or...

Innospec allots $40.2 million to settle bribery charges.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Brief article)
February 22, 2010... Innospec says it has set aside a total of $40.2 million to settle fines related to ongoing probes by U.S. and British authorities into whether the company violated federal securities laws under the United Nations oil-for-food program. Innospec...

Invista to end PTA production at Wilmington, NC.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 22, 2010... Invista, the fibers subsidiary of Koch Industries (Wichita, KS), says it will stop producing purified terephthalic acid (PTA) at its Wilmington, NC facility by mid-March because market economics favor purchasing PTA rather than producing it....

Commodity chemical makers post mixed year-end results.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(financial news)(Financial report)
February 22, 2010... Earnings were mixed at commodity and diversified chemical makers during the final quarter of 2009. Volumes are mostly improving, but lower selling prices in the vinyls chain and certain specialty segments hurt results at some firms. Huntsman...

Profits soar for specialty makers.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(financial news)(Brief article)
February 22, 2010... Late-reporting specialty chemical firms reported big profit gains in the final quarter of 2009. Rockwood Holdings posted net income of $11.3 million, compared to a net loss of $734.1 million in the same year-ago period. The 2008 quarter included...

Start-up advances biobased acrylic acid.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 22, 2010... OPX Biotechnologies (Boulder, CO) says it expects to bring a commercial-scale biobased acrylic acid plant online in 2013. It recently reached 85% of targeted cost reduction after six months of pilot-scale operations. OPX set a commercial goal of...

States have mixed results restricting BPA.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Bisphenol-A)
February 22, 2010... Lawmakers in the Oregon state senate have voted down a bill that would have barred certain products containing bisphenol A (BPA) from state commerce. The proposal would have restricted sale of beverage containers intended for small children that...

Ferro shifting operations.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Brief article)
February 22, 2010... Ferro announced further restructuring plans for its European manufacturing operations, including the discontinuation of frit production at Castanheira, Portugal and consolidation of plastics manufacturing from Portugal to its Almazora, Spain...

SI Group Brazil deal.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 22, 2010... SI Group-trios Resinas (Rio Claro, Brazil), an affiliate of SI Group (Schenectady, NY), has acquired Resinas Industria e Comercio (Jundai, Brazil), an affiliate of Georgia-Pacific Chemicals (Atlanta). Resinas Industria makes formaldehyde,...

Chemtura to expand antioxidant and UV stabilizers.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 22, 2010... Chemtura says it is planning a number of global antioxidant and UV stabilizer capacity expansions particularly targeting growing markets in Asia and the Mideast. The company also announced plans to expand production capacity for alkylated...

U.S. EPA releases timeline for GHG regulations.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Greenhouse gases)(Environmental Protection Agency)
February 22, 2010... U.S. EPA has detailed its timeline for regulating greenhouse gas (GHG) emissions under its existing CAA authority. The agency says no stationary source will be subject to rules until 2011, and the smallest sources will not need to comply until...

ACC: global production indicating 'V-shaped' recovery.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Brief article)
February 22, 2010... Global chemical industry production rose for an eleventh consecutive month in January, according to ACC's monthly report on production. The rise totaled 8.2% year-on-year on a three-month moving average basis, and 0.5% sequentially. The...

Clariant downsizes Swiss site as part of restructuring.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 22, 2010... Clariant says it will cease production of textile dyes and textile chemicals, as well as paper chemicals, at its Muttenz, Switzerland headquarters as part of a major restructuring of the company's production capacity over the next three years....

Fourth-quarter results improve on higher volumes.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)(financial news)(Financial report)
February 22, 2010... Fourth-quarter 2009 European chemical earnings were mixed, but most companies reported improved market conditions that started early last year. All companies warn, however, that the recovery may not be sustainable this year, especially in Europe...

Asian chemical companies report rising profits.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)(financial news)(Financial report)
February 22, 2010... Several major Asian chemical companies have reported a rise in profits )for the quarter ended December 31, 2009. The improvement reflects a recovery trend in Asian markets, companies say. LG Chem reported a more than tripling in net profits,...

Calgon Carbon finalizes JV buyout deal.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)(Mitsubishi Chemical Corp. acquired with Calgon Carbon Corp.)(Brief article)
February 22, 2010... Calgon Carbon says it has signed a definitive agreement with Mitsubishi Chemical for the previously announced buyout of Mitsubishi's 51% interest in the firms' activated carbon joint venture, Calgon Mitsubishi Chemical. Calgon Carbon says it...

Mitsui Seeks Partners for c[O.Sub.2]-Based Methanol Plant
February 22, 2010... Mitsui Chemicals is in discussions with Celanese and Daicel Chemical Industry (Osaka), both leading producers of acetyls, on the possibility of participating in a first commercial-scale methanol plant based on Mitsui's Green House...

Scientific Design bags ethylene glycol contract in Algeria.(NEW CONSTRUCTION PROJECTS)(Brief article)
February 22, 2010... Scientific Design (SD; Little Ferry, N J) says it has been selected to provide its ethylene glycol (EG) technology to a previously announced 51-49 joint venture between Total Petrochemicals and Sonatrach (Algiers) at Arzew, Algeria. The EG plant...

Egyptian firm picks Univation Technology for three PE units.(NEW CONSTRUCTION PROJECTS)(polyethylene)(Brief article)
February 22, 2010... Carbon Holdings (Cairo) has selected Univation Technologies' Unipol process for three previously announced polyethylene (PE) production lines at Ain Sokhna, Egypt, each with capacity for 450,000 m.t./year. One of the plants will make...

KBR selected to build ammonia plant in India ...(NEW CONSTRUCTION PROJECTS)(Brief article)
February 22, 2010... KBR says it has been awarded a contract by Matix Fertilisers and Chemicals, part of the Matix Group (New Delhi), to provide technology and engineering services for a grassroots 2,200-m.t./day ammonia plant in the state of West Bengal, India. The...

... Lands contract to revamp gas cracker in Nigeria ...(NEW CONSTRUCTION PROJECTS)(Eleme Petrochemicals)(KBR Inc.)(Brief article)
February 22, 2010... KBR has been awarded a contract by Eleme Petrochemicals (Port Harcourt, Nigeria) to revamp a gas cracker at Eleme, near Port Harcourt. The cracker has capacity for 550,000 m.t./year of ethylene. Eleme Petrochemicals is a subsidiary of Indorama...

... Provides technology and engineering to Turkmenistan.(NEW CONSTRUCTION PROJECTS)(M.W. Kellogg Co.)(M.W. Kellogg Co.)(Brief article)
February 22, 2010... M.W. Kellogg, majority owned by KBR, will provide its license and engineering design for a previously announced ammonia and urea complex planned by Turkmenhimya (Ashgabat) at Mary, Turkmeuistan (CW, Jan. 18/25, p. 16). Kellogg's will provide...

Dow Chemical: CEO Andrew Liveris says the company is back on solid ground after a tumultuous 2009, and now has the portfolio needed accelerate growth in revenues and profit.(Dow Chemical Co. (Midland, Michigan))(Interview)
February 22, 2010... [ILLUSTRATION OMITTED] Dow Chemical was set to carry out its transformation to a specialty chemicals and advanced materials leader when the late 2008 global economic meltdown upended two deals central to that plan. Kuwait's Petrochemical...

Industrial gases: rising backlogs offer hope of brighter days ahead.(Air Products and Chemicals Inc.)(Company overview)
February 22, 2010... [ILLUSTRATION OMITTED] Volumes are beginning to recover at industrial gases firms following a difficult year of weak demand, but revenue growth is still lagging behind that of other industries. Gases firms were able to keep their profits...

Informex: mixed outlook but optimism prevails.(MEETINGS)
February 22, 2010... Senior executives of specialty and fine chemical manufacturers have a mixed outlook when it comes to business opportunities for the year ahead, according to executives attending the Informex expo held recently in San Francisco. Wolfgang Schmitz,...

Sherwin-Williams to buy Arch's industrial wood coatings Unit.(PAINTS AND COATINGS)(Sherwin-Williams Co. Chemical Coatings Div.)(Arch Chemicals Inc.)(Brief article)
February 22, 2010... Sherwin-Williams (SW) has agreed to buy Arch Chemicals' industrial wood coatings business for 40 million [euro] ($54 million) in cash. Arch's industrial wood coatings business trades under the Sayerlack brand and is headquartered at Pianoro,...

U.S. ethylene market heads for another two-month settlement.(MARKETS)(Brief article)
February 22, 2010... For the third time in six months, U.S. ethylene market players are said to be close to settling a multiple-month contract, this time for January and February. The deliberations continue a trend that began last year when negotiators agreed on a...

Flint Hills to demolish Texas plant.(POLYMERS)
February 22, 2010... Koch Industries' Flint Hills Resources unit says it intends to demolish part of its shuttered Odessa, TX petrochemicals plant or sell it to someone who will do the same. There have been several options to restart the plant, including one in...

Basic chemicals price watch.(BASIC CHEMICALS & PLASTICS)(Dow Chemical Co. (Midland, Michigan))(Brief article)(Statistical data)
February 22, 2010... Dow Chemical has increased the price of polycarbonate by 300 [euro]/m.t. in Africa, Europe, India and the Mideast effective March 1, or as contracts allow * Oxea (Oberhausen, Germany) says it increased the price of carboxylic acids and polyols...

LME changes trading process.(BASIC CHEMICALS & PLASTICS)(London Metal Exchange)(Brief article)
February 22, 2010... The London Metal Exchange (LME) says it has modified the price discovery process for plastics futures contracts traded on the exchange. Beginning February 15, prices for the LME plastics contracts in polypropylene and linear low-density...

U.S. olefins rose in late 2009.(BASIC CHEMICALS & PLASTICS)(National Petrochemical and Refiners Association)(Brief article)(Statistical data)
February 22, 2010... U.S. olefins production rose sequentially in the fourth-quarter of 2009 by an average of about 6.7%, according to the latest production statistics from the National Petrochemical & Refiners Association (NPRA; Washington). Ethylene production...

EPA's reversal on dioxin complicates remediation plans.(ENVIRONMENTAL SERVICES)
February 22, 2010... EPA's decision last year to issue interim dioxin cleanup standards has stunned the chemical industry and generated confusion among firms involved in risk assessment and hazardous waste remediation. The December proposal was the latest in EPA's...

Commentary.(CW PRICE REPORT)
February 22, 2010... ETHANE and PROPANE each gained about 1 ct/gal last week, while NAPHTHA and BUTANE were unchanged. U.S. spot olefins moved higher due to tight supply and strong demand. ETHYLENE gained 3 cts/lb, while BUTADIENE and both grades of PROPYLENE...

CW75 Index.(CW75 STOCK PERFORMANCE)(Statistical table)
February 22, 2010... The CW75 Index fell by 1% for the week ending February 23, slightly lagging broader market indexes. Weaker-than-expected economic news from Germany and the U.S. drove down the stock market late in the week. Basic and diversified chemical stocks...

ConocoPhillips.(KEY CHANGES--LEADING INDICATOR)
February 22, 2010... ConocoPhillips has made two senior management changes and appointed a new outside director. Robert Herman, president/Europe refining, marketing and transportation, has been appointed v.p./health, safety and environment. He replaces Bob Ridge,...

DSM.(KEY CHANGES--LEADING INDICATOR)(appointment of Mauricio Adade as president/human nutrition and Rick Gruebel as international president)(Brief article)
February 22, 2010... DSM has announced two new appointments. Mauricio Adade, president/human nutrition and health for DSM Nutritional Products, has been named chief marketing officer, effective May 1. Rick Gruebel, currently group v.p. and international...

Bergeson & Campbell.(KEY CHANGES--LEADING INDICATOR)
February 22, 2010... Christopher Bryant has joined the law firm Bergeson & Campbell, where he will specialize in environmental, health and safety (EH&S) compliance issues. He was most recently managing director/chemical products and technology for ACC. He...

Lonza.(KEY CHANGES--LEADING INDICATOR)(appointment of Jonathan Knowles as scientific advisor )(Brief article)
February 22, 2010... Jonathan Knowles has been appointed scientific advisor for Lonza. In the part-time role, he will work with the company's innovation for future technologies initiative. Knowles was previously head of group research for Roche, and a member of...

Aceto.(KEY CHANGES--LEADING INDICATOR)(appointment of Jan Van Eis as vice president at Aceto corp.)(Brief article)
February 22, 2010... Jan Van Eis has been named v.p./international operations and international pharmaceutical strategy for Aceto. Van Eis first joined Aceto in 2001 with the company's acquisition of Schweizerhall's distribution business. He has been a managing...

Liquida Technologies.(KEY CHANGES--LEADING INDICATOR)(appointment of Frank Malinoski as chief medical officer)(Brief article)
February 22, 2010... Liquida Technologies, a biopharmaceutical firm, has appointed Frank Malinoski to the post of chief medical officer. Malinoski has been involved in the biotech and pharmaceutical industries for more than two decades, and has held senior positions...

TriMas Corporation.(KEY CHANGES--LEADING INDICATOR)(appointment of Kurt Allen at president)(Brief article)
February 22, 2010... TriMas Corporation has named Kurt Allen president/Lamons Gasket Company. Lamons supplies industrial gaskets to the petroleum and petrochemical sectors. Allen has been with Lamons since 1999, and was most recently v.p./sales and marketing.

Dahlman Rose & Co.(KEY CHANGES--LEADING INDICATOR)
February 22, 2010... Dahlman Rose & Co., a boutique investment bank, has named Darren Gacicia v.p./equity research. Gacicia was most recently a v.p. at Morgan Stanley.

FED changes course.(KEY CHANGES--LEADING INDICATOR)
February 22, 2010... The leading indicator for the chemical industry fell slightly in February after several months on an upward trajectory. Meanwhile, the Federal Reserve recently raised the discount rate from 0.5% to 0.75%, the first such increase since July 2006,...

Something in the air.(Air Products and Chemicals Inc.)(Viewpoint essay)
February 8, 2010... Air Products appears to see big things in small packages, again. After a brisk exit from the North American packaged gases sector in 2002, it is seeking a grand reentrance via a hostile takeover of Airgas (p. 6). Air Products says that a...

Dow to close TDI unit.(toluene diisocyanate)(Dow Chemical Co. (Midland, Michigan))(toluene diisocyanate)(Brief article)
February 8, 2010... Dow Chemical says it will permanently close its 100,000 m.t./year toluene diisocyanate (TDI) plant at Freeport, TX in the second-quarter. "Manufacturing TDI [at Freeport] is no longer economically viable," Dow says. Dow Polyurethanes has secured...

BASF builds in Brazil.(Brief article)
February 8, 2010... BASF says it has broken ground on a previously announced sodium methylate plant at Guaratingueta, Brazil, the company's biggest site in South America. BASF announced the facility in May 2008, at which time it anticipated starting the plant up...

Polyone nabs BASF deal.(Brief article)
February 8, 2010... PolyOne's distribution division says it will distribute BASF's advanced polymers for the healthcare market. The deal includes BASF's Ultrason polymer line, which are high-temperature and built to withstand repeated exposure to sterilization...

Petchem profits soar for oil majors.(Financial report)
February 8, 2010... ExxonMobil's chemical segment earnings more than tripled in the fourth quarter on stronger margins, higher volumes and the absence of year-ago hurricane impacts. Earnings were $716 million, up from $155 million in the year-ago period. U.S....

Mosaic sells Brazilian fertilizer assets.(Fertilizantes Fosfatados and Fertifos Admiulstracao e Participacao )(Brief article)
February 8, 2010... Metals mining company Vale (Rio de Janeiro) has agreed to acquire Mosaic's stake in fertilizer companies Fertilizantes Fosfatados (Fosfertil; Sao Paulo) and Fertifos Admiulstracao e Participacao (Fertifos; Sao Paulo), Mosaic says. Vale has also...

Invista denies Rhodia's claims in ADN dispute.
February 8, 2010... Invista, the fibers subsidiary of Koch Industries (Wichita, KS), disputes recent claims made by Rhodia that the International Chamber of Commerce (ICC; Paris) has "vindicated most of Rhodia's arguments" in the first phase of arbitration in the...

Senate takes up TSCA reform; Lautenberg's bill due out 'soon'.(Toxic Substances Control Act)(Frank Lautenberg )(Brief article)
February 8, 2010... Senator Frank Lautenberg (D., N J) urged lawmakers to not "waste this opportunity" to reform the 34-year-old Toxics Substances Control Act (TSCA) and heard testimony earlier this month from two panels of experts on the current science on public...

EU agrees to pump billions of dollars into CCS and renewables.(carbon capture and storage)(Brief article)
February 8, 2010... A committee representing European Union (EU) member states has accepted a draft European Commission proposal to direct funds raised from the region's emission trading scheme (ETS) to finance the development of carbon capture and storage (CCS)...

Shareholders restructure BorsodChem's debts.
February 8, 2010... Private equity firm Permira and isocyanates producer Wanhua Industrial Group (Yantai, China) have reached a preliminary agreement on plans to restructure the l.1-billion [euro] ($1.5 billion) debts of isocyanates and polyvinyl chloride producer...

Ineos's Crotty named president of EPCA.(European Petrochemical Association appointed Tom Crotty)(Brief article)
February 8, 2010... Tom Crotty, CEO of Ineos Olefins and Polymers Europe, has been named president of the European Petrochemical Association (EPCA; Brussels), effective February 1. Crotty succeeds Albert Heuser, who has been appointed president/regional market and...

Sibur sells MTBE unit.(Kauchuk Industrial Group)(methyl tertbutyl ether)(Brief article)
February 8, 2010... Sibur (Moscow) says it has agreed to sell its Kauchuk JSC (Volzhskii, Russia) unit to Roe1 Corp. (Moscow). Kauchuk mainly makes methyl tertbutyl ether (MTBE) at Volzhskii. It 135,000 m.t./year of MTBE produced Last year. Sibur says that it will...

Univar buys Dutch firm.(Quaron Group )(Brief article)
February 8, 2010... Univar says it has agreed to acquire Quaron Group (Zwijndrecht, the Netherlands), a distributor of chemicals in Belgium, France, and the Netherlands. Quaron also exports chemical products to more than 30 countries. Its main distribution centers...

AllessaChemie exit.(Brief article)
February 8, 2010... AllessaChemie (Frankfurt) says it will cease production of the company's Reflex Blue range of pigments, effective April 1. AllessaChemie says the Reflex Blue business is losing money "due to increasing competitive pressure enhanced by the...

China PTA duties.(purified terephthalic acid)(Brief article)
February 8, 2010... The Chinese government has imposed provisional antidumping duties on imports of purified terephthalic acid (PTA) from Thailand and Korea. Duties on Korean companies range from 2.4% to 11.2% and duties on Thai companies range from 12.2% to 20.1%....

Air Products launches hostile bid for Airgas.(TOP OF THE WEEK)(Air Products and Chemicals Inc.)
February 8, 2010... Air Products commenced a $5.1-billion hostile bid to acquire Airgas last week after several private and public approaches were rejected. Air Products launched the $60/share tender offer on February 11 following Airgas's rebuff of an earlier...

Braskem to buy Sunoco's polypropylene business.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 8, 2010... Brazilian polyolefins producer Braskem (Sao Paulo) says it will buy Sunoco Chemicals' polypropylene (PP) business for about $350 million in cash. The sale includes Sunoco's PP manufacturing facilities in Marcus Hook, PA, La Porte, TX, and Neal,...

Shell, Cosan plan $12-billion fuel venture in Brazil.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Royal Dutch-Shell PLC)(Cosan Chemical Corp.)
February 8, 2010... Shell says it is planning to form a $12 billion Brazilian ethanol and transportation fuel joint venture with Cosan (Sao Paulo), one of the world's largest ethanol producers. Under the terms of a non-binding memorandum of understanding, each firm...

Earnings exceed expectations at most basic firms.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 8, 2010... Better-than-expected profits at basic and diversified chemical firms surprised analysts, as lower costs and in some cases, higher volumes, lifted earnings in the final quarter of 2009. Earnings plummeted at Airgas, however, as industrial gases...

Fertilizer volumes improve, but lower prices dampen profits.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Financial report)
February 8, 2010... Sharply lower prices continued to deflate fertilizer firms' earnings in the fourth quarter, although improving demand, and expectations of more favorable pricing, were reported across the board. Analysts were optimistic on prospects for recovery...

M&A Activity expected to 'improve substantially' in 2010.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 8, 2010... The chemical M&A market is set to "improve substantially" this year, according to Peter Young, president of Young & Partners (Y&P; New York). "We hit a trough in volume in the first quarter of 2009, and a trough in valuations in the...

Specialty chemical firms post big year-end gains.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
February 8, 2010... Profits surged at specialty chemical makers in the fourth quarter as demand continued its recovery, particularly in developing countries. Lubrizol reported earnings of $134 million, compared with a loss of $281 million in the year-ago period....