Chemical Week articles from October 2009, page 2

Chemical Week archives from October 2009

Dupont exec says profit recovery may take three years.(E.I. du Pont de Nemours and Co.'s financial news)(Financial report)(Brief article)
October 12, 2009... A senior DuPont official says that he expects it will take about two and one-half to three years for DuPont to return to 2008 profit levels. DuPont executive v.p. Mark Vergnano made the comment at an investor meeting earlier this month. He adds...

GPCA slams antidumping procedures against mideast petchem exports.(Gulf Petrochemicals and Chemicals Association)(Brief article)
October 12, 2009... The Gulf Petrochemicals and Chemicals Association (GPCA; Dubai) says it will challenge antidumping procedures launched recently by China, the European Union (EU), and India against petrochemical exports from the Gulf Cooperation Council (GCC)...

Ineos improves acetonitrile supply.(Brief article)
October 12, 2009... Ineos says it has made a "technological breakthrough" that will significantly improve security of supply for acetonitrile. Changes to Ineos's technology were implemented recently at the company's Seal Sands, U.K.; Lima, OH; and Green Lake, TX...

Total seeks role in French biodiesel program.(Brief article)
October 12, 2009... Total says it aims to play a leading role in France's second-generation biodiesel pilot program, dubbed BioTfueL. The company has offered to provide more than 30% of the financing required for the project; share the "expertise and dedication" of...

Lanxess completes exit from ABS business.(Brief article)
October 12, 2009... Lanxess has completed its exit from the acrylonitrile butadiene styrene (ABS) business and transferred its remaining 49% stake in Ineos ABS to Ineos. Lanxess did not receive any money for the stake, CW has learned. Lanxess and Ineos agreed...

Clariant cuts jobs again.(Brief article)
October 12, 2009... Clariant says it will cut an additional 800 jobs in 2009-10, increasing the number of job cuts announced by the company this year to 2,700 (CW, Aug. 17/24, p. 5). About 450 of the newly announced job losses will be in Europe, of which 180 will...

Nitrocellulose merger?
October 12, 2009... SNPE (Paris) is negotiating to merge its Bergerac NC (Bergerac, France) nitrocellulose business with the nitrocellulose activities of Dow Wolff Cellulosics (Bomlitz, Germany), a Dow Chemical subsidiary, according to a report in French newspaper...

Distributor spin-off.(appointment of Joris Coppye )(Brief article)
October 12, 2009... Chemical distributor Azelis (Milan) is spinning off its polymer business to create a new distribution company, Allandis (Luxembourg). Allandis is due to start trading on November 1 with Peter Fields as its CEO. Fields was formerly COO at Azelis....

Serbian privatization.(Brief article)
October 12, 2009... The government of Serbia has extended until November 13 the deadline for bids to acquire a 70% stake in inorganic salts and specialties producer Chemical Industry Zupa (Krusevac, Serbia). It is the second time the deadline has been delayed. A...

Earnings outlook improving on cost cuts and quarterly gains.(TOP OF THE WEEK)
October 12, 2009... One year after the financial meltdown that decimated profits, analysts and manufacturers see the light of recovery at the end of the tunnel. Many chemical firms are poised to beat analysts' consensus as cost-cutting actions, combined with low...

BASF says it will beat estimates.(TOP OF THE WEEK)(financial news)(Financial report)(Brief article)
October 12, 2009... BASF reported preliminary third-quarter Ebit before special items down 20%, to 1.25 billion [euro] ($1.86 billion), on sales down 19%, to 12.8 billion [euro]. BASF says it will announce its full-third quarter results on October 29. The earnings...

Earnings meet estimates despite drop in revenues.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Financial report)
October 12, 2009... Earnings were mostly positive at early-reporting firms and came in ahead of analysts' estimates. Mosaic's income tumbled, however, on "significant declines" in phosphate prices and potash volumes. PPG Industries reported third-quarter net...

LyondellBasell creditors seek examiner.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
October 12, 2009... The unsecured creditors committee in the LyondellBasell bankruptcy case is seeking appointment of an examiner to investigate an alleged conflict of interest in the rights offering process related to its plan to exit bankruptcy and to determine...

Dow: Solar shingles could generate $5 billion by 2015.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Dow Chemical Co. )(Brief article)
October 12, 2009... Dow Chemical says its Dow Solar Solutions business will introduce a line of copper indium gallium diselenide (CIGS)-based solar shingles by mid-2010. The "Powerhouse" shingles have the potential to yield revenues of $5 billion in 2015 and $10...

Shell developing phosgene-free route to polycarbonate.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Shell Chemical Co.)(Brief article)
October 12, 2009... Shell Chemical says it is in the pilot-scale phase of development on a less costly propylene oxide (PO)- and carbon dioxide (C[O.sub.2])-based route to producing diphenyl carbonate (DPC) that avoids use of phosgene and results in commercially...

LSB Industries inks deal with Yara, faces plant delays.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Brief article)
October 12, 2009... LSB Industries (Oklahoma City) says its Cherokee Nitrogen subsidiary has inked a long-term agreement to supply Yara North America (Tampa, FL) with diesel exhaust fluid (DEF). Cherokee Nitrogen will produce its Earthpure-brand DEF, to be marketed...

Monsanto questioned by DOJ; reports wider quarterly loss.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Financial report)
October 12, 2009... Monsanto says it has been cooperating with Department of Justice (DOJ) officials in the U.S. government's investigation into the company's seed-licensing practices, which Monsanto's competitors say violate U.S. antitrust laws. At issue are...

EPA asks advisory panel to review Atrazine's recent health effects data.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
October 12, 2009... EPA's will review the widely used herbicide atrazine for possible adverse human health effects, a move that manufacturer Syngenta says is part of the normal course of a pesticide's re-registration. The herbicide is due for re-registration in...

Canada to invest in Shell carbon capture project.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
October 12, 2009... Royal Dutch Shell says the governments of Alberta and Canada have signed letters of intent to contribute a total of C$865 million ($837 million) to Shell's carbon capture and storage (CCS) project at Shell's Fort Saskatchewan bitumen upgrader....

Cefic assembly: industry shows 'tentative' signs of recovery ...(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)
October 12, 2009... The European chemical industry is showing "tentative signs of recovery" but it will take years before the industry is back to January 2008 levels, said Cefic president Christian Jourquin in his address to the Cefic 2009 general assembly, held...

... Reach hits a stumbling block.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)(Brief article)
October 12, 2009... The chemical industry and Cefic fully support the EU's Registration, Evaluation, and Authorization of Chemicals (Reach) program but its implementation is proving to be more complex than expected for all registrants, says Alain Perroy, outgoing...

EU seeks more investments in low-carbon technologies.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)(Brief article)
October 12, 2009... European Union (EU) countries must together invest an additionai 50 billion [euro] ($73.8 billion) by 2020 to develop low-carbon technologies, if the EU is to meet its climate change goals, the European Commission says. The commission has called...

Ship deal would create the world's biggest chemical fleet.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)
October 12, 2009... Tanker operator PT Berlian Laju Tanker (BLT; Jakarta) says it plans to make an indicative offer to acquire tanker company Camillo Eitzen & Co. (Ceco; Oslo). Combining the BLT and Ceco fleets would create "the world's largest and most modern...

Solvay forms hydrogen peroxide joint venture in China.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)
October 12, 2009... Solvay and Huatai Group (Dongyiug, China) have joined forces to establish a hydrogen peroxide (H2O2) production joint venture in China. The 50-50 jv, Shandong Huatai Interox Chemical Co., will build a 50,000-m.t./year H2O2 plant at a brown field...

Mitsubishi Rayon sells Chinese unit.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)(Mitsubishi Rayon Company Ltd. acquired with Ningbo Rayon Acrylic Fibers )(Brief article)
October 12, 2009... Mitsubishi Rayon says it will sell Ningbo Rayon Acrylic Fibers (Ningbo, China), a wholly owned subsidiary, to two companies, Nantong Zhongxin Textile and Dyeing (Nantong, China) and Fordking (Hong Kong), for a total price of about [yen] 1.5...

Reliance revives p-xylene, PTA, PET; may alter cracker.(NEW CONSTRUCTION PROJECTS)(polyethylene terephthalate)(purified terephthalic acid)
October 12, 2009... Reliance Industries has revived plans to build para-xylene, purified terephthalic acid (PTA), and polyethylene terephthalate (PET) bottle resins plants and changed the configuration of a planned world-scale steam cracker, CW has learned. The...

Clariant to build ethoxylates plant in China.(NEW CONSTRUCTION PROJECTS)(Brief article)
October 12, 2009... Clariant says it will build an ethoxylation plant at Daya Bay near Huizhou, China by early 2011. The plant will have capacity for about 50,000 m.t./year and serve primarily domestic customers for a broad range of applications including crop...

Saipem awarded urea plant contract in Qatar.(NEW CONSTRUCTION PROJECTS)
October 12, 2009... Saipem (Milan) has been awarded a contract to supply the previously announced Qafco VI urea manufacturing complex of Qatar Fertilizer Co. (Qafco; Doha) (CW, Aug. 24, p. 19). Saipem is the leader of a consortium, also including Hyundai...

Indian Petchem complex achieves financial closure.(NEW CONSTRUCTION PROJECTS)(Brahmaputra Cracker and Polymer Ltd.'s financial news)(Financial report)(Brief article)
October 12, 2009... Brahmaputra Cracker and Polymer Ltd. (BCPL) has achieved financial closure for a Rs54.6-billion ($1.18 billion) petrochemical complex at Lepetkata in the state of Assam, India. BCPL is a joint venture among Gail India, Oil India, Numaligarh...

Air Liquide to build nitrogen unit in Germany.(NEW CONSTRUCTION PROJECTS)(Brief article)
October 12, 2009... Air Liquide says it will invest about 10 million [euro] ($15 million) to build a large nitrogen production unit at Solar Valley in Europe, a high-technology park at Thalheim, Germany. The unit, with capacity for more than 38,000 m.t./year and...

ExxonMobil Chemical: integration, discipline drive returns.(Cover story)(Company overview)
October 12, 2009... [ILLUSTRATION OMITTED] ExxonMobil Chemical (Houston) officials say they remain focused on capturing the benefits of the company's scale, high level of integration with ExxonMobil refinery and upstream operations, and strong technology and...

The Billion-Dollar Club: downturn puts squeeze on profits.(Financial report)
October 12, 2009... [ILLUSTRATION OMITTED] BASF again secured the top spot in CW's Billion-Dollar Club, an annual ranking of companies by chemical sales, for the third straight year. The company reported 2008 chemical revenues up 2%, to $58.3 billion. ExxonMobil...

MEGlobal: a positive outlook.(ETHYLENE GLYCOL)
October 12, 2009... Ethylene glycol markets have been tumultuous through the first five years for MEGlobal, a 50:50 ethylene-glycol (EG) venture between Dow and Petrochemical Industries Company (PIC) of Kuwait. Recent moves at Dow have shuffled management at the...

EPA's GHG reporting rule raises the bar on monitoring.(CLIMATE CHANGE)(greenhouse gas)
October 12, 2009... EPA's recently finalized greenhouse gas (GHG) reporting rule will present a significant challenge to chemical companies, even those that currently report emissions, experts say. The main difference is that "you can't just make a calculation, you...

BPA Linked to aggressive behavior.(REGULATORY)(Brief article)
October 12, 2009... Girls whose mothers were exposed to high levels of bisphenol A (BPA) during early months of pregnancy are more likely to exhibit aggressive behavior, according to a study published today by Environmental Health Perspectives, a journal of the...

EPA fines two fertilizer firms.(REGULATORY)(Brief article)
October 12, 2009... Mosaic says it will spend about $30 million on air pollution controls to eliminate sulfur dioxide emissions from its sulfuric acid plant at Uncle Sam, LA to settle alleged Clean AirAct violations. It will also pay a fine of $2.4 million. Mosaic...

CW price report.
October 12, 2009... Rising crude oil and natural gas prices pushed North American feedstocks higher. ETHANE gained about a penny, NAPHTHA rose about 3 cts/gal, while PROPANE gained about 2 cts/gal and BUTANE added about 1 ct/gal. Among North American olefins,...

CW75 stock performance.
October 12, 2009... The CW75 Index rose 2.6% for the week ending October 13, outpacing broader markets including the Morgan Stanley global composite and the Standard and Poor's 500, which each rose 1.8%. Chemical stocks increased following a Deutsche Bank report...

Rocky recovery.(VITAL STATISTICS--KEY CHANGES)
October 12, 2009... Industrial production rose 0.6% in August, after a 1.4% gain in July. Durables were up 0.5%, while nondurables advanced 0.7%. Chemical production rose 0.7%, its third consecutive monthly advance. As a result of those gains in output, capacity...

Dow Chemical.(VITAL STATISTICS--KEY CHANGES)(appointment of Peter Sykes and Steve Henderson )(Brief article)
October 12, 2009... Dow Chemical has announced two major changes. Peter Sykes, formerly president/ Dow Automotive Systems, has been named president/Dow Greater China. Sykes was also previously president/Dow Japan & Korea, and will relinquish both roles upon...

The National Association of Chemical Distributors.(VITAL STATISTICS--KEY CHANGES)(appointment of Matthew T. Glaser, Larry Bafundo and Chris Parinello)(Brief article)
October 12, 2009... The National Association of Chemical Distributors (NACD) has made three new appointments: Matthew T. Glaser, director/member advancement and strategic communications; Larry Bafundo, manager/memberadvancementand communications; and Chris...

The Environmental Working Group.(VITAL STATISTICS--KEY CHANGES)(appointment of Heather White and Ntis Bruzelius)(Brief article)
October 12, 2009... The Environmental Working Group (EWG) has made two new appointments: Heather White, chief of staff and general counsel, and Ntis Bruzelius, executive editor. White was most recently director of education for the National Wildlife Federation....

Clariant.(VITAL STATISTICS--KEY CHANGES)(appoinment of Christian Kohlpainter as executive committee)(Brief article)
October 12, 2009... Clariant has named Christian Kohlpainter to its executive committee, effective October 1. He will be responsible for the masterbatches and functional chemicals divisions, as well as group technology, until Clariant's new structure takes effect...

Invensys Operations Management.(VITAL STATISTICS--KEY CHANGES)(appointment of Ravi Gopinath and Teemu Tunkelo)(Brief article)
October 12, 2009... Invensys Operations Management has named two new executives: Dr. Ravi Gopinath, regional president/Asia Pacific, and Teemu Tunkelo, regional president/Europe, Russia and Africa. Gopinath had previously served as CEO of Geometric Ltd., while...

Kansas City Southern.(VITAL STATISTICS--KEY CHANGES)(appointment of Susan McVaney Strong)(Brief article)
October 12, 2009... Susan McVaney Strong has been named v.p./national accounts for Kansas City Southern. Strong had previously been with Union Pacific Railroad for 21 years. Her most recent position was that of general director/logistics.

Bio-Clean.(VITAL STATISTICS--KEY CHANGES)(appointment of Dale Paisley )(Brief article)
October 12, 2009... Dale Paisley has been named CFO of Bio-Clean, a maker of"environmentally friendly" commercial solvents. Paisley was most recently CFO of The Saint James Company, and prior to that was CFO of Amish Naturals.