Company News
February 15, 2021
Lanxess to Acquire Emerald Kalama
LANXESS signs contract to acquire Emerald Kalama Chemical
CologneFebruary 14, 2021
Specialty chemicals company LANXESS signed an agreement to acquire US-based Emerald Kalama Chemical from affiliates of American Securities LLC. Emerald Kalama Chemical is one of the leading global manufacturers of specialty chemicals especially for the consumer segment.
Emerald Kalama employs worldwide approximately 500 employees and runs three production sites. The company reported 2020 sales of around USD 425 million and EBITDA pre exceptionals of approximately USD 90 million. Around 45 percent of its turnover is generated in North America.
The enterprise value amounts to USD 1,075 million. The transaction will be financed by LANXESS existing liquidity. Closing of the transaction is anticipated in the second half of 2021 and subject to the approval of the relevant regulatory authorities.
By acquiring Emerald Kalama Chemical, LANXESS strengthens its specialty chemical portfolio especially in the Consumer Protection segment and would materially expand into the growth markets food and animal nutrition.
February 15, 2021
Lanxess to Acquire Emerald Kalama
LANXESS signs contract to acquire Emerald Kalama Chemical
CologneFebruary 14, 2021
Specialty chemicals company LANXESS signed an agreement to acquire US-based Emerald Kalama Chemical from affiliates of American Securities LLC. Emerald Kalama Chemical is one of the leading global manufacturers of specialty chemicals especially for the consumer segment.
Emerald Kalama employs worldwide approximately 500 employees and runs three production sites. The company reported 2020 sales of around USD 425 million and EBITDA pre exceptionals of approximately USD 90 million. Around 45 percent of its turnover is generated in North America.
The enterprise value amounts to USD 1,075 million. The transaction will be financed by LANXESS existing liquidity. Closing of the transaction is anticipated in the second half of 2021 and subject to the approval of the relevant regulatory authorities.
By acquiring Emerald Kalama Chemical, LANXESS strengthens its specialty chemical portfolio especially in the Consumer Protection segment and would materially expand into the growth markets food and animal nutrition.
February 15, 2021
Force Majeure in Europe
LyondellBasell, Covestro declare force majeure on styrene from Maasvlakte POSM unit
12:24 PM | February 15, 2021 | Fahima Mathe, OPIS
Mechanical failure caused shutdown on 10 February; unit produces 680,000 metric tons/year of styrene, 313,000 metric tons/year of propylene oxide.
February 15, 2021
Force Majeure in Europe
LyondellBasell, Covestro declare force majeure on styrene from Maasvlakte POSM unit
12:24 PM | February 15, 2021 | Fahima Mathe, OPIS
Mechanical failure caused shutdown on 10 February; unit produces 680,000 metric tons/year of styrene, 313,000 metric tons/year of propylene oxide.
February 15, 2021
Propylene Oxide in Korea
S-Oil expected to continue recovery this year
신문5면 1단 기사입력 2021.02.14. 오후 4:42 최종수정 2021.02.14. 오후 4:45 기사원문스크랩 좋아요 좋아요 평가하기 2 댓글 글자 크기 변경하기인쇄하기 보내기 
S-Oil’s residue upgrading facility (S-Oil)
S-Oil, South Korea’s No. 3 refiner, is expected to see an improvement in profits this year, continuing a recovery momentum from the final quarter of 2020, according to the industry sources Sunday.
S-Oil said the company expects a recovery based on the increasing profitability of the company’s petrochemical products, including propylene oxide and polypropylene.
S-Oil noted the company plans to increase production capacity for propylene oxide through which the company managed to offset the weak refining margin in the last quarter.
During the October-December period, S-Oil’s refining business posted an operating loss of 89.7 billion won. However, the company’s petrochemical and lube oil units posted 72.7 billion won and 110 billion won of operating profits.
S-Oil was the only refiner — among four local refiners in the nation — that avoided plunging into the red.
Increasing profitability of propylene oxide, in particular, helped the company, the firm said.
The price of propylene oxide per metric ton in the fourth quarter last year reached an all-time high since December 2014, increasing 85 percent to reach $1,098 from $595 in the previous quarter.
The refiner said it plans to add its production capacity for propylene oxide by 30,000-40,000 tons to maximize profits from the petrochemical product.
The company also anticipated a recovery in refining margins in the wake of the global rollout of COVID-19 vaccines, which will boost travel demand worldwide.
According to Meritz Securities here, S-Oil’s operating profit this year is expected to hit 1.02 trillion won, turning around from the operating loss of 1.08 trillion won in 2020.
By Shim Woo-hyun (ws@heraldcorp.com)
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