Epoxy
October 19, 2021
LyondellBasell Advice on Social Engineering Fraud
Houston, October 18, 2021
Dear Valued Customer,
The industry is experiencing an increasing number of social engineering activities, scams and other cyber-
crime activities. We care about our customers and want to reinforce practices that can support you in preventing damage caused by these activities.
Below we reinforce a few principles that will help you to protect your company and its assets.
• Our customers pay their invoices on the bank account mentioned on the invoice; we suppose that you
have in place electronic system alerts in case the account number on the invoice does not match the LYB
account number active in your systems.
• Any LyondellBasell request to change the remit-to bank account where you pay your invoices,comes only
in writing from us by email from your LyondellBasell key account manager or contact mentioned in
the Notice section of the relevant Contract.
• In case of doubt, prior to making any payment, and in case you receive written instructions to pay the
invoice on another bank account then mentioned on the invoice you are always supposed to do a double
verification by
• i) get this change confirmed by email from the person and by the email account mentioned
in the Notice section of the Contract / Regular (sales) contact and
• ii) have this change confirmed by phone by your regular Sales contact.
• Only email addresses with the @lyb.com and @lyondellbasell.com annotation originate from our
company. In the event you do not recognize the name of the sender or it is misspelled, please do not open
the email or any of the attachments and contact your IT department immediately.
• Please reach out immediately, to your LyondellBasell Sales contact, in case of any suspicious email
communication or other activity from which it appears that it originates from LyondellBasell.
We will never ask for your personal information, or password.
Please always remain vigilant, and do not hesitate to reach out to your Sales contact regarding
any questions you might have. Together, we can reduce the potential for loss for our companies as it
relates to web-criminality.
Kind regards,
October 19, 2021
LyondellBasell Advice on Social Engineering Fraud
Houston, October 18, 2021
Dear Valued Customer,
The industry is experiencing an increasing number of social engineering activities, scams and other cyber-
crime activities. We care about our customers and want to reinforce practices that can support you in preventing damage caused by these activities.
Below we reinforce a few principles that will help you to protect your company and its assets.
• Our customers pay their invoices on the bank account mentioned on the invoice; we suppose that you
have in place electronic system alerts in case the account number on the invoice does not match the LYB
account number active in your systems.
• Any LyondellBasell request to change the remit-to bank account where you pay your invoices,comes only
in writing from us by email from your LyondellBasell key account manager or contact mentioned in
the Notice section of the relevant Contract.
• In case of doubt, prior to making any payment, and in case you receive written instructions to pay the
invoice on another bank account then mentioned on the invoice you are always supposed to do a double
verification by
• i) get this change confirmed by email from the person and by the email account mentioned
in the Notice section of the Contract / Regular (sales) contact and
• ii) have this change confirmed by phone by your regular Sales contact.
• Only email addresses with the @lyb.com and @lyondellbasell.com annotation originate from our
company. In the event you do not recognize the name of the sender or it is misspelled, please do not open
the email or any of the attachments and contact your IT department immediately.
• Please reach out immediately, to your LyondellBasell Sales contact, in case of any suspicious email
communication or other activity from which it appears that it originates from LyondellBasell.
We will never ask for your personal information, or password.
Please always remain vigilant, and do not hesitate to reach out to your Sales contact regarding
any questions you might have. Together, we can reduce the potential for loss for our companies as it
relates to web-criminality.
Kind regards,
October 13, 2021
Propylene Naptha Spread in Asia
Asia’s propylene-naphtha spread touches near six-week high on stronger propylene
Propylene-naphtha spread at $332.75/mt
FOB Korea propylene at four-month high of $1,105/mt
Asia’s propylene-naphtha spread touched a near six-week high Oct. 12 as China’s mandated curbs on power consumption lifted domestic propylene prices, while benchmark C+F Japan naphtha saw volatility in crude markers as prices dipped day on day.
The spread between FOB Korea propylene and C+F Japan naphtha cargo rose 44% on the week to $332.75/mt at the Asian close Oct. 12, Platts data showed. The spread was last higher Sept. 2 at $337/mt, S&P Global Platts data showed. This is above the typical breakeven spread of $250/mt.
China’s mandated dual control on power consumption and production boosted domestic propylene prices over the weekend as buyers raised their inventory anticipating a supply shortage.
Firmer crude oil and other propylene-making feedstock aided the spot market.
The East China propylene price rose Yuan 1,100/mt from Oct. 7 to Yuan 9,000/mt ex tank price Oct. 12 , while the Shandong propylene price rose Yuan 1,600/mt to Yuan 9,700/mt ex tank price over the same period.
Chinese industry sources said that the government continued to be strict on its double control policy and there was little leeway for propylene producers to increase their run rates after the National Day holidays, as the country still faced lack of coal and other energy resources, Platts reported earlier.
“Many provinces face power cuts, and many propylene productions units are operating on reduced run rates, but the demand for propylene is still there because downstream polypropylene demand, buoyed by strong PP futures, is gaining traction and now there is a shortage of propylene,” said a China-based trader.
FOB Korea propylene rose $130/mt week on week to $1,105/mt Oct. 12, Platts data showed.
Meanwhile, the olefin producers’ margin for ethylene production was weak, as it narrowed $3.375/mt week on week and $18.625/mt month on month to $387.75/mt at the Asian close Oct. 12. This remained above the breakeven level of $350/mt for non-integrated producers and is likely to support the high cracker run rates, market sources said.
Volatility in crude markers saw benchmark C+F Japan naphtha fall $1.125/mt day on day but rise $28.375/mt week on week to $772.25/mt at the Asian close Oct. 12, Platts data showed. The mixed picture was also reflected as the CFR Japan naphtha physical crack against front-month ICE Brent crude futures narrowed $0.975/mt day on day, but rose $12.025/mt week on week to $142.475/mt at the Asian close Oct. 12, Platts data showed.
Cracker feedstock demand for naphtha was also tepid as prices of LPG eased on the day. This narrowed the propane-naphtha spread $10.375/mt on the day and $54.875/mt on the week to $99.75/mt at the Asian close Oct. 12, Platts data showed. LPG typically becomes economically viable as a steam cracking feedstock when its price is 90% that of naphtha, or lower.
October 13, 2021
Propylene Naptha Spread in Asia
Asia’s propylene-naphtha spread touches near six-week high on stronger propylene
Propylene-naphtha spread at $332.75/mt
FOB Korea propylene at four-month high of $1,105/mt
Asia’s propylene-naphtha spread touched a near six-week high Oct. 12 as China’s mandated curbs on power consumption lifted domestic propylene prices, while benchmark C+F Japan naphtha saw volatility in crude markers as prices dipped day on day.
The spread between FOB Korea propylene and C+F Japan naphtha cargo rose 44% on the week to $332.75/mt at the Asian close Oct. 12, Platts data showed. The spread was last higher Sept. 2 at $337/mt, S&P Global Platts data showed. This is above the typical breakeven spread of $250/mt.
China’s mandated dual control on power consumption and production boosted domestic propylene prices over the weekend as buyers raised their inventory anticipating a supply shortage.
Firmer crude oil and other propylene-making feedstock aided the spot market.
The East China propylene price rose Yuan 1,100/mt from Oct. 7 to Yuan 9,000/mt ex tank price Oct. 12 , while the Shandong propylene price rose Yuan 1,600/mt to Yuan 9,700/mt ex tank price over the same period.
Chinese industry sources said that the government continued to be strict on its double control policy and there was little leeway for propylene producers to increase their run rates after the National Day holidays, as the country still faced lack of coal and other energy resources, Platts reported earlier.
“Many provinces face power cuts, and many propylene productions units are operating on reduced run rates, but the demand for propylene is still there because downstream polypropylene demand, buoyed by strong PP futures, is gaining traction and now there is a shortage of propylene,” said a China-based trader.
FOB Korea propylene rose $130/mt week on week to $1,105/mt Oct. 12, Platts data showed.
Meanwhile, the olefin producers’ margin for ethylene production was weak, as it narrowed $3.375/mt week on week and $18.625/mt month on month to $387.75/mt at the Asian close Oct. 12. This remained above the breakeven level of $350/mt for non-integrated producers and is likely to support the high cracker run rates, market sources said.
Volatility in crude markers saw benchmark C+F Japan naphtha fall $1.125/mt day on day but rise $28.375/mt week on week to $772.25/mt at the Asian close Oct. 12, Platts data showed. The mixed picture was also reflected as the CFR Japan naphtha physical crack against front-month ICE Brent crude futures narrowed $0.975/mt day on day, but rose $12.025/mt week on week to $142.475/mt at the Asian close Oct. 12, Platts data showed.
Cracker feedstock demand for naphtha was also tepid as prices of LPG eased on the day. This narrowed the propane-naphtha spread $10.375/mt on the day and $54.875/mt on the week to $99.75/mt at the Asian close Oct. 12, Platts data showed. LPG typically becomes economically viable as a steam cracking feedstock when its price is 90% that of naphtha, or lower.
October 12, 2021
Arsenal Makes Another Acquisition
Arsenal’s Applied Adhesives Acquires American Chemical MINNETONKA, Minn., October 12, 2021 — APPLIED Adhesives, a premier custom adhesive solutions provider in North America, today announced the acquisition of American Chemical, a regional supplier of adhesives and sealants located in Minneapolis, MN. APPLIED’s acquisition of American Chemical serves to strengthen its commitment of providing industry leading technical expertise and exceptional service to its customers.
“American Chemical has consistently delivered innovative solutions and exceptional value to its customers, which aligns with our culture of relentless customer focus,” said John Feriancek, president and chief executive officer of APPLIED Adhesives. “We look forward to welcoming American Chemical’s customers to the APPLIED family and providing them outstanding service, support, and value.”
For over 30 years, American Chemical has supported the needs of its customers through new product development and in-house lab services for unique applications. “I am very proud of American Chemical’s legacy of innovation and customer support,” said Dennis Werneke, former owner of American Chemical. “I’m excited that our customers will now have the opportunity to partner with APPLIED and their talented, customer-focused team of professionals. Our customers are in good hands.”
American Chemical is APPLIED Adhesives’ third acquisition in 2021 and its eighth in the last four years.
Financing & Advisors Krahn Capital Group, LLC advised American Chemical in the transaction.
About APPLIED Adhesives APPLIED Adhesives, founded in 1971, is a premier custom adhesive solutions provider for the packaging, paper converting, graphic arts, bottle labeling, product assembly, and automotive industries. The company is a value-added distributor of hot melt, water-based, and reactive adhesives as well as dispensing equipment. APPLIED Adhesives serves as a critical supply chain partner to leading adhesive manufacturers and formulators by offering reach and high service levels to an expansive customer base. For more information, please visit appliedadhesives.com.
About Krahn Capital Group, LLC Krahn Capital Group is a boutique investment banking firm specializing in mergers and acquisitions and capital advisory services for privately held businesses in the lower middle market. For more information, please visit www.krahncapitalgroup.com.
About Arsenal Capital Partners Arsenal is a leading private equity firm that specializes in investments in middle-market industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, has completed more than 200 platform and add-on investments, and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add. Visit www.arsenalcapital.com.
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