Chemical Week articles from October 2010, page 3

Chemical Week archives from October 2010

Monsanto narrows fourth quarter loss.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Financial report)
October 11, 2010... Monsanto reported a larger loss than analysts expected for its fiscal fourth quarter ended August 31 on sharp declines in sales and profit from its glyphosate herbicides. The company also provided a 2011 outlook below analysts' expected range....

Chemtura equity holders reject reorganization plan.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Brief article)
October 11, 2010... Chemtura equity holders have voted to reject the company's reorganization plan. The vote voids shareholders' right to purchase up to 7.4 million shares in the reorganized company, and renders the shape of shareholder compensation in the...

Omnova Solutions earnings fall on charges.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Financial report)(Brief article)
October 11, 2010... Omnova Solutions last week reported net income of $3.5 million, or 8 cts/diluted share, for its fiscal third quarter ended August 31, compared with net income of $10.1 million, or 23 cts/diluted share, in the year-ago quarter. Current quarter...

Polysilicon market forecast to be profitable, but volatile.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Industry overview)
October 11, 2010... The market for polysilicon, the dominant component of photovoltaic solar cells, has grown at an incredibly high rate in the last five years and has significant potential for continued growth, one consulting firm says. However, it is also a very...

Socma realigns 2011 legislative agenda.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
October 11, 2010... With national polls indicating that voters will return the U.S. House of Representatives to Republican control in November, Socma is retooling its 2011 legislative agenda to reflect a more "manufacturing friendly" House, says Socma...

Braskem outlines u.s. pp plans; starts up green ethylene unit in Brazil.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
October 11, 2010... Braskem America says it will invest $40 million in its U.S. polypropylene (PP) business through 2011, upgrading facilities' infrastructure, and integrating business processes with parent company Braskem. Braskem has allocated more than $35...

Westlake buys 50% stake in NGL pipeline.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(natural gas liquid)(Westlake Chemical Corp. acquired Cypress Interstate Pipeline from Kinder Morgan Energy Partners L.P.)(Brief article)
October 11, 2010... Westlake Chemical says it has purchased a 50% equity interest in Cypress Interstate Pipeline from Kinder Morgan Energy Partners (KMP; Houston). Financial details were not disclosed. The 104-mile Cypress Pipeline runs from Mont Belvieu, TX to...

Lubrizol sets 2013 earnings target of $13.50/share.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)(Financial report)
October 11, 2010... Lubrizol last week set a 2013 earnings goal of $13.50/share, an increase of 80% over 2009 results. The higher target reflects stronger earnings and the impact of an ongoing share repurchase program, company officials say. Lubrizol announced a...

PotashCorp says government report understates revenue loss from BHP deal.(BUSINESS & FINANCE NEWS: UNITED STATES/AMERICAS)
October 11, 2010... PotashCorp says a government-funded report that found "few negative takeover effects" on Canada and the province of Saskatchewan from the proposed acquisition of PotashCorp by Australian mining firm BHP Billiton underestimates the tax revenue...

Soul-searching at Cefic as Europe loses its lead.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)
October 11, 2010... The declining competitiveness of the European chemical industry was one of the main topics debated at the annual Cefic General Assembly, held recently in Rome. The theme of the meeting was: The Future of the European Chemical Industry-Role and...

Rhodia Sets Targets, Switches to Business Units
October 11, 2010... Rhodia has announced growth targets for 2013-15 and says it will reorganize its operations into global business units (GBU), replacing the company's current enterprises structure. Rhodia aims to generate an annual Ebitda, excluding carbon...

EPCA annual meeting: industry seeks a new business model.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)(European Petrochemical Association)
October 11, 2010... The chemical industry in Europe and other mature regions needs to develop a "new business model" based on new and enhanced value chains and technologies if it is to meet the challenge posed by long-term global trends and cope with shorter-term...

AkzoNobel's five-year goals focus on high-growth markets.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)
October 11, 2010... AkzoNobel has announced ambitious goals for the next five years, aiming to reinforce the company's leading position in the global coatings industry and promote AkzoNobel to the number-one slot in specialty chemicals. Targets include raising...

Arkema to build latex plant, start up PVDF resins in China.(BUSINESS & FINANCE NEWS: ASIA/PACIFIC)(polyvinyledene fluoride )(Brief article)
October 11, 2010... Arkema says it will invest $30 million to construct a latex plant at Changshu, China to produce a range of emulsion polymers primarily for use in the coatings and adhesives markets. The plant is expected to start up in late 2012. "Building an...

China restricts melamine.(BUSINESS & FINANCE NEWS: EUROPE/MIDEAST)(Brief article)
October 11, 2010... the Chinese government has called for stringent regulation on the production and marketing of melamine to avoid the use of melamine in the food and feed industry, the Ministry of Commerce (Beijing) says. A register should be established to trace...

Kuwait studies PTA and PET investment plans.(NEW CONSTRUCTION PROJECTS)
October 11, 2010... Kuwait Aromatics Co. (Karo) is studying plans to develop a project downstream from the company's recently completed para-xylene plant at Shuaiba, Kuwait. Karo is a joint venture in which Petrochemical Industries Co. (PIC; Safat, Kuwait) and...

BASF to build water treatment and paper chemicals plants in China.(NEW CONSTRUCTION PROJECTS)(Brief article)
October 11, 2010... BASF says it will establish a production base for water treatment and paper chemicals at Nanjing, China with construction of a 40,000-m.t./year quaternized cationic monomers plant and a 20,000-m.t./year cationic polyacrylamides plant. Nanjing is...

Marubeni studies methanol production facility in Ghana.(NEW CONSTRUCTION PROJECTS)(Marubeni America Corp.)(Brief article)
October 11, 2010... Marubeni has signed a memorandum of understanding with the government of Ghana to conduct a joint feasibility study for an 850,000-m.t./year methanol plant in Ghana. The study will look into the possibility of using natural gas byproduct from...

Honam Forms PP Catalysts Joint Venture with Mitsui in Korea
October 11, 2010... Mitsui Chemicals and Honam Petrochemical have agreed to form a 50-50 joint venture to build a polypropylene (PP) catalysts manufacturing plant in Korea. The plant will be constructed at Honam's Yeosu site and will begin production in April 2013....

...Awards ethanolamines contract to Toyo Engineering.(NEW CONSTRUCTION PROJECTS)(Brief article)
October 11, 2010... Toyo Engineering says its Toyo China subsidiary has been awarded a turnkey contract by Honam Petrochemical, to build a 50,000-m.t./year ethanolamines plant at Honam's Jiaxing, China site. Toyo's responsibility covers engineering, procurement of...

Jacobs to carry out expansion for Huntsman in Singapore.(NEW CONSTRUCTION PROJECTS)
October 11, 2010... Jacobs Engineering has been awarded a contract by Huntsman Corp., to expand Huntsman's polyether amines plant at Jurong Island, Singapore. Jacobs' scope of work includes design and installation of a third reactor, which will increase capacity by...

Chiyoda awarded helium extraction contract in Qatar.(NEW CONSTRUCTION PROJECTS)
October 11, 2010... Chiyoda says that its Chiyoda Almana Engineering (Doha) subsidiary has been awarded a contract by RasGas Co. (Doha) covering engineering, procurement, and construction management for a helium extraction unit to be built at Ras Laffan, Qatar. The...

Sustainability: building better practices: Key players in the chemical industry are reorienting their product portfolios and assessing their supply chains and other functions to ensure they can respond effectively to growing pressures from customers and the public to address climate change and other potential consequences of global development.(Cover story)
October 11, 2010... [ILLUSTRATION OMITTED] Senior executives responsible for sustainability at major chemical companies including AkzoNobel, BASF, Bayer and DuPont, say environmental performance has become central to their core business activities. Leading...

Adhesives and sealants: squeezing out price increases.
October 11, 2010... [ILLUSTRATION OMITTED] Improved economic conditions have lifted sales and profits for adhesives and sealants makers this year. Growth is expected to continue into 2011, but at a more moderate rate, and consumers remain cautious, producers...

House passes bill to expand domestic rare earths projects.(ELECTRONIC CHEMICALS)
October 11, 2010... The U.S. House of Representatives has approved a bill that would advance rare earths R&D and broaden an existing program of loan guarantees to new rare earths production facilities in the U.S. The bill is a bipartisan push to reduce U.S....

Dow launches first TPO coating polymer.(PAINTS AND COATINGS)(thermoplastic polyolefin )(Brief article)
October 11, 2010... Dow Chemical says it has developed the first polymer that enables coatings to be compatible with thermoplastic polyolefin (TPO) membrane roofs, a breakthrough that is expected to open a market opportunity potentially worth hundreds of millions...

BASF UPS dispersions, resin prices.(SPECIALTIES)(Brief article)
October 11, 2010... BASF says it will increase prices in Africa, Europe, and Western Asia by 100 [euro]/m.t. for polymer dispersions and additives and 170 [euro]/m.t. for resins and redispersible powders. The increases are effective October 1 or as contracts allow,...

PPG forms solar business unit.(SPECIALTIES)
October 11, 2010... PPG Industries says it has formed a business unit that will focus on the development and commercialization of glass and coatings technologies for solar photovoltaic modules and concentrated solar power (CSP) manufacturers. The segment, PPG Solar...

Celanese increases acetate prices.(SPECIALTIES)(Brief article)
October 11, 2010... Celanese says it will increase acetate flake and acetate tow prices for core grade items by 7%-10%, fob, effective January 1, 2011 or as contracts allow. Pricing for unique and/or low volume tow items and specialty tow items will increase by a...

National starch deal completed.(SPECIALTIES)
October 11, 2010... Corn Products International (Westchester, IL) says it has completed its 1.3 billion acquisition of AkzoNobel's specialty starches business, National Starch. The business produces starches for the food and paper industries and reported sales of...

U.S. butadiene contracts decrease for October.(MARKETS)(Brief article)
October 11, 2010... North American butadiene contracts for the month of October have settled at a decrease of 6 cts/lb, to 86 cst/lb amid a lengthening market, sources say. The latest settlement represents a 6.5% decrease from September and is the lowest contract...

Shaw licenses FCC propylene technology.(OLEFINS)(The Shaw Group Inc.)(China Petroleum and Chemical Corp.)(fluid catalytic cracking)(Brief article)
October 11, 2010... The Shaw Group has licensed two refining technologies from Sinopec designed to help refiners meet environmental regulations for cleaner gasoline as well as increase propylene production. The two technologies reduce olefins, sulfur and benzene...

Shintech completes PVC expansion.(BASIC CHEMICALS & PLASTICS)(polyvinyl chloride)(Brief article)
October 11, 2010... Shintech, the wholly owned subsidiary and U.S. vinyls business of Shin-Etsu Chemical, has completed its polyvinyl chloride (PVC) expansion at Plaquemine, LA that doubled PVC capacity to about 600,000 m.t./year. The unit is not operating at full...

Cristal declares force majeure.(BASIC CHEMICALS & PLASTICS)
October 11, 2010... Cristal Global, the production arm of National Titanium Dioxide Co. (Cristal; Yanbu, Saudi Arabia), has declared force majeure on titanium dioxide (TiO2) produced at its Ashtabula, OH plant due to "an unanticipated production issue outside of...

Sasol cracker turnaround.(BASIC CHEMICALS & PLASTICS)(Brief article)
October 11, 2010... Sasol took its 417,000-m.t./year ethylene unit at Lake Charles, LA steam cracker offline in late September for a planned maintenance turnaround, sources say. The turnaround is expected to last about 40 days. The U.S. ethylene market is not...

CW75 stock performance.(Statistical data)
October 11, 2010... The CW75 rose 1.3% for the week ended October 5, in line with broader market indexes. The stock market finished up on positive news from the U.S. services sector, and on news that the Bank of Japan cut rates. Basic chemical stocks increased...

Output ticks up.(LEADING INDICATOR--KEY CHANGES)(chemical production)(Statistical data)
October 11, 2010... The leading indicator for the chemical industry was stable in September, following a 1.2% gain in the previous month. Most of the indicator's components moved in a positive direction, but a 3% drop in the average chemical industry stock price...

Nalco.(LEADING INDICATOR--KEY CHANGES)(appointment of Kathryn Mikells )(Brief article)
October 11, 2010... Nalco has named Kathryn Mikells executive v.p. and CFO. Mikells, currently CFO of UAL Corp., United Airlines' parent company, will assume the post upon completion of the merger between United and Continental airlines. Mikells has served as CFO...

Euro Chlor.(LEADING INDICATOR--KEY CHANGES)(appointment of Michael Trager)(Brief article)
October 11, 2010... Michael Trager, managing director and COO of polyvinyl chloride maker Vestolit, has been named chairman of Euro Chlor, the European ChlorAlkali association. Trager succeeds Solvay's Filipe Constant and will serve in the post for one year. He...

German Chemical Industry Association.(LEADING INDICATOR--KEY CHANGES)(appointment of Karl-Ludwig Kley)(Brief article)
October 11, 2010... Karl-Ludwig Kley, chairman of Merck's executive board, has been elected vice president of the German Chemical Industry Association. Kley has served as the group's treasurer since 2008 and will continue to occupy that role. He has been a member...

Mallinckrodt Baker.(LEADING INDICATOR--KEY CHANGES)(appointment of Robert Hatter)(Brief article)
October 11, 2010... Mallinckrodt Baker has named Robert Hatter executive v.p., CFO and chief administrative officer. Harrer was most recently a business advisor to New Mountain Capital, Mallinckrodt Baker's private equity owner. Prior to that, he served in a...

CMAI.(LEADING INDICATOR--KEY CHANGES)(Chemical Market Associates Inc.)(Brief article)
October 11, 2010... CMAI has appointed two new executives in its business advisory service. Roger Green, formerly v.p./chemicals and consulting, Europe, the Midde East and Africa for Chem Systems, has been named global business director/commercial in the firm's...

Azeils.(LEADING INDICATOR--KEY CHANGES)(appointment of Benoit Fritz)(Brief article)
October 11, 2010... Azeils has named Benoit Fritz principals development director. Fritz was most recently commercial director/wire and cable business EMEA for Dow. He first joined Dow in 2002 and has held a variety of positions in wire and cable, elastomers and...

The Plaza Group.(LEADING INDICATOR--KEY CHANGES)(appointment of Lauren Sanchez )(Brief article)
October 11, 2010... The Plaza Group has named Lauren Sanchez general manager of its new Panama City office. She was most recently a manager of sales and customer support with Univar USA.

International Flavors and Fragrances.(LEADING INDICATOR--KEY CHANGES)
October 11, 2010... Ahmet Baydarhas been appointed senior v.p./R&D at International Flavors and Fragrances. lie was most recently v.p./global fragrance research.

Plasticolors.(LEADING INDICATOR--KEY CHANGES)
October 11, 2010... Plasticolors, a custom manufacturer of colorants and dispersants, has named Scott Becker president and CEO. lie was most recently the company's COO.