Company News
November 7, 2022
Covestro Pauses MDI Plant
Covestro Pauses Investment Project for World-Scale MDI Plant
Published: Nov. 7, 2022 at 5:42 a.m. ET
By Pierre Bertrand
Covestro AG said Monday that it has paused an investment project for a new world-scale methylene diphenyl diisocyanate, or MDI, plant.
Citing disruptions to the global economy caused by the war in Ukraine, Europe’s energy crisis and growing inflation, the German polymer manufacturer said its decision means it hasn’t yet decided where the plant will be built.
“Facing an increasingly volatile economic environment, we must ensure that we make the best decision for the company economically and strategically”, Covestro Chief Executive Markus Steilemann said. “Thus, we pause the project for the moment and reassess it at a later time,” he said.
It is the second time since early 2020 that the company has paused the project. When it had resumed in 2021, the company said it was considering building the plant in either the U.S. or China with commission planned for 2026.
The suspension of the investment doesn’t represent a change in Covestro’s long-term growth strategy, the company said Monday, adding that it continues to see significant growth in global demand for MDI driven by energy-efficient construction trends.
MDI is a raw material used for the production of polyurethane insulation which can reduce a building’s heating and cooling needs by up to 70%, according to Covestro.
November 7, 2022
Covestro Pauses MDI Plant
Covestro Pauses Investment Project for World-Scale MDI Plant
Published: Nov. 7, 2022 at 5:42 a.m. ET
By Pierre Bertrand
Covestro AG said Monday that it has paused an investment project for a new world-scale methylene diphenyl diisocyanate, or MDI, plant.
Citing disruptions to the global economy caused by the war in Ukraine, Europe’s energy crisis and growing inflation, the German polymer manufacturer said its decision means it hasn’t yet decided where the plant will be built.
“Facing an increasingly volatile economic environment, we must ensure that we make the best decision for the company economically and strategically”, Covestro Chief Executive Markus Steilemann said. “Thus, we pause the project for the moment and reassess it at a later time,” he said.
It is the second time since early 2020 that the company has paused the project. When it had resumed in 2021, the company said it was considering building the plant in either the U.S. or China with commission planned for 2026.
The suspension of the investment doesn’t represent a change in Covestro’s long-term growth strategy, the company said Monday, adding that it continues to see significant growth in global demand for MDI driven by energy-efficient construction trends.
MDI is a raw material used for the production of polyurethane insulation which can reduce a building’s heating and cooling needs by up to 70%, according to Covestro.
November 3, 2022
Brock Lewis Will Be Missed
BROCK LEWIS OBITUARY
Brock Lewis (30) of Millington, NJ passed away on OCT 27, 2022 as a result of a motorcycle accident. He was surrounded by family. He was born and raised in Millington and a graduate of Watching Hills High School. He was finishing his education at RVCC on the Dean’s List.
He was employed by Everchem as a Chemical Sales representative. Brock was a member of the Stirling Elks.
Brock loved to boat, fish, ski, and snowboard. He played hockey and was a referee. He enjoyed being in Naples, FL and Tupper Lake in the Adirondack Mountains.
He is survived by his parents, Bill and Jill Lewis, and brother Troy Lewis. Grandmothers: Dee Huddilston, Mary Kennedy (John), and Dona Lewis. He leaves behind many Aunts, Uncles, cousins, and his girlfriend Leah.
Brock was predeceased by his Grandfathers: Bob Huddilston, William Lewis, and Charles Pienkowski.
A celebration Service will be held at the Shrine of Saint Joseph on SAT, NOV 5th at 9:30am. (1050 Long Hill Rd Stirling, NJ)
Special Thanks to the ICU nurses and staff at Morristown Memorial Hospital for their extraordinary care.
In lieu of flowers, donations can be made to the Stirling Elks Special Children’s fund for his Best friend’s daughter, Serenity. Checks can be sent to Stirling Elks lodge 2392 1138 Valley Rd Stirling, NJ 07980 Attn: Brock for Serenity
Arrangements are under the direction of the Valley memorial Funeral Home 1012 Valley Rd., Gillette, NJ. For more information and online condolences visit valleymemorialfuneralhome.net
Published by Valley Memorial Funeral Home on Nov. 1, 2022.
https://www.legacy.com/us/obituaries/name/brock-lewis-obituary?id=36959109
November 3, 2022
Brock Lewis Will Be Missed
BROCK LEWIS OBITUARY
Brock Lewis (30) of Millington, NJ passed away on OCT 27, 2022 as a result of a motorcycle accident. He was surrounded by family. He was born and raised in Millington and a graduate of Watching Hills High School. He was finishing his education at RVCC on the Dean’s List.
He was employed by Everchem as a Chemical Sales representative. Brock was a member of the Stirling Elks.
Brock loved to boat, fish, ski, and snowboard. He played hockey and was a referee. He enjoyed being in Naples, FL and Tupper Lake in the Adirondack Mountains.
He is survived by his parents, Bill and Jill Lewis, and brother Troy Lewis. Grandmothers: Dee Huddilston, Mary Kennedy (John), and Dona Lewis. He leaves behind many Aunts, Uncles, cousins, and his girlfriend Leah.
Brock was predeceased by his Grandfathers: Bob Huddilston, William Lewis, and Charles Pienkowski.
A celebration Service will be held at the Shrine of Saint Joseph on SAT, NOV 5th at 9:30am. (1050 Long Hill Rd Stirling, NJ)
Special Thanks to the ICU nurses and staff at Morristown Memorial Hospital for their extraordinary care.
In lieu of flowers, donations can be made to the Stirling Elks Special Children’s fund for his Best friend’s daughter, Serenity. Checks can be sent to Stirling Elks lodge 2392 1138 Valley Rd Stirling, NJ 07980 Attn: Brock for Serenity
Arrangements are under the direction of the Valley memorial Funeral Home 1012 Valley Rd., Gillette, NJ. For more information and online condolences visit valleymemorialfuneralhome.net
Published by Valley Memorial Funeral Home on Nov. 1, 2022.
https://www.legacy.com/us/obituaries/name/brock-lewis-obituary?id=36959109
November 2, 2022
Green Epichlorohydrin Project in Sarawak
RM1.7 bln epichlorohydrin manufacturing plant project in Samalaju holds groundbreaking
By Yunus Yussop on November 2, 2022, Wednesday at 3:43 PM Sarawak
Awang Tengah (sixth right) and other guests perform the groundbreaking at Samalaju Industrial Park.
SAMALAJU (Nov 2): The proposed RM1.7 billion epichlorohydrin (ECH) manufacturing plant project in Samalaju Industrial Park held its groundbreaking ceremony today.
The project is a joint venture investment by OCiKumho Sdn Bhd and Korea Kumho Petro Chemical Group.
Deputy Premier Datuk Amar Awang Tengah Ali Hasan said at a time of uncertainties due to global geopolitics and the economy, OCI and Kumho’s investment is very much welcomed.
“This latest investment from OCI and Kumho in Samalaju Industrial Park is a testament to the high level of confidence investors have in the Sarawak GPS (Gabungan Parti Sarawak) government,” he said when officiating at the event on behalf of Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
He said the project is in line with Sarawak’s Post Covid-19 Development Strategy 2030, which encourages more development in green and renewable industries so that Sarawak can contribute to the national aspiration of a low-carbon and eventually carbon-neutral society by 2050.
When operational, the new plant will produce ECH through hydroelectric power with bio-glycerin and natural salts.
ECH is an important raw material in the manufacture of epoxy used in coating applications in all industrial fields such as shipbuilding, automobiles, IT, construction, and civil engineering.
Awang Tengah said OCI Group will also expand its chlor-alkali production.
OCI has invested more than RM8 billion to produce solar grade polysilicon in Sarawak, creating employment and business opportunities for locals.
Besides the current expansions by investors in Samalaju and Sama Jaya in Kuching, Awang Tengah said there are several new investors who are negotiating with the Sarawak government on proposed projects.
“These investors are attracted to the green hydropower potential of Sarawak to produce green products such as steel, hydrogen, and components for EV batteries, as the world moves towards more sustainable development,” he said.
He pointed out Sarawak remains as an attractive location for investment, ranking among the top destinations for investment in manufacturing projects in Malaysia.
“Despite the pandemic, Sarawak managed to attract a total investment of RM23.17 billion, with RM16.08 billion approved in 2020 and RM7.09 billion in 2021,” he said.
He said for Samalaju Industrial Park, RM21 billion was invested by international investors and, in turn, this generated RM4.6 billion last year in spin-offs for the local economy (2020: RM4.05 billion).
“Total employment created was 7,800 in 2021 (2020: 6,600) as well as wages paid amounting to RM425 million (2020: RM342 million).
“In 2021, Samalaju Industrial Park recorded total exports of RM13.9 billion (2020: RM9.4 billion),” added Awang Tengah, who is Minister for International Trade, Industry and Investment.
Among those present at the ceremony were Deputy Minister for International Trade, Industry and Investment Datuk Dr Malcolm Mussen Lamoh, ministry advisor (SME) Datuk Mohamad Naroden Majais, ministry acting permanent secretary Dzulkornain Masron, OCI Group chairman Baik Woo Sug, and Korea Kumho Petro Chemical Group chairman Park Chan Koo.
Everchem Updates Archive 
Sign Up for Email Updates