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Everchem Updates
VOLUME XXI
September 14, 2023
Everchem’s exclusive Closers Only Club is reserved for only the highest caliber brass-baller salesmen in the chemical industry. Watch the hype video and be introduced to the top of the league: — read more
April 1, 2021
Chairman Kim Seung-yeon returns to Hanwha Group to drive new businesses
As Chairman of Hanwha Group Kim Seung-yeon returns to management after seven years, Hanwha’s core affiliates are taking a drive in new businesses.
ANI | Seoul | Updated: 01-04-2021 08:56 IST | Created: 01-04-2021 08:56 IST
Seoul [Sout Korea], April 1 (ANI/Global Economic): As Chairman of Hanwha Group Kim Seung-yeon returns to management after seven years, Hanwha’s core affiliates are taking a drive in new businesses. Following trillions of investments in space and aviation, it will also promote its own production of Dinitrotoluene (DNT).
It was announced on Wednesday that Hanwha Solutions [009830] and Hanwha Co., Ltd. are planning to jointly invest a total of 350 billion won to build a nitric acid and nitric acid derivatives (DNT) production facility in Yeosu Industrial Complex. DNT, which is produced from nitric acid and toluene, is a key raw material for toluene diisocyanate (TDI), that is used to produce artificial leather etc.
Hanwha Solutions plans to invest 160 billion won and Hanwha Co., Ltd. 190 billion won to build nitric acid and nitrate derivatives (DNT) facilities. Hanwha Solutions has been purchasing TDI from Hu-Chems [069260] until now, and when this plant is completed, 100% of TDI can be produced in-house.
The two companies plan to build a TDI production facility with an annual capacity of 180,000 tons using the area of 66,000m^2, half of the 132,000m^2polysilicon site in the Yeosu Industrial Complex of Hanwha Solutions. It aims for commercial production in January 2024. An official at Hanwha Solutions explained, “With this in-house DNT production, we will build a vertical integration line for the production of caustic soda, chlorine, synthetic gas, DNT, and TDI.”
Hanwha Solutions predicts that if TDI is produced in-house, the operating margin will increase by about 10 % due to cost improvement. Through this project, Hanwha Corporation is expanding its nitric acid business by producing 400,000 tons of nitric acid.
Hanwha Corporation plans to advance into the inorganic chemistry and derivatives business by enhancing its nitric acid business competitiveness. Prior to this investment, Hanwha Group decided to make a paid-in capital increase worth 1.2 trillion won to Hanwha Systems [272210], a defense, space, and aviation company.
Hanwha System’s largest shareholders, Hanwha Aerospace [012450] and H Solutions, are participating in a total capital increase of 730 billion won. H Solution is a company that is 100% owned by three sons of Chairman Kim Seung-yeon, Kim Dong-gwan, Kim Dongwon, and Kim Dongseon.
Hanwha Systems is planning to invest 500 billion won in LEO (Low Earth Orbit) satellite communications, 450 billion won in air mobility business, and 250 billion won in blockchain-based digital platform business throughout 3 years starting this year. It is planning to expand the air mobility (air taxi) business in earnest. The business community believes that the power of Chairman Kim Seung-yeon, who returned to management after seven years, is attributable to Hanwha Group’s recent active business expansion. (ANI/Global Economic)
March 31, 2021
Chemical grade now at $0.685/lb . . .
March 31, 2021
Chemical grade now at $0.685/lb . . .
March 30, 2021
March 30, 2021
Subject: Propylene Oxide & Derivatives – Force Majeure Event
Dear Valued Customer,
Per the previous letter dated February 16, 2021, Lyondell Chemical Company declared a force majeure
event for all products within our Americas Propylene Oxide & Derivatives Portfolio – Propylene Oxide,
Propylene-Glycols, Allyl Alcohol, Butanediol & Derivatives, Propylene-Series Glycol Ethers and
Propylene-Specialties Glycol Ethers, effective February 16, 2021.
In a letter dated February 25, 2021, Lyondell Chemical Company announced a sales allocation for
Propylene Glycol, effective March 1, 2021. For the foreseeable future, Lyondell Chemical Company is
updating the previously announced sales allocation for Propylene Glycol, as outlined below. Allocation
volumes have been determined based on customer’s average monthly purchases for the previous 6 months
(August 2020 – January 2021). This allocation will be effective April 1, 2021.
Product Allocation
Mono-Propylene Glycol Industrial Grade (PGI) 90%
Mono-Propylene Glycol USP/EP Grade (PG USP/EP) 90%
Di-Propylene Glycol Industrial Grade (DPGI) 100%
Di-Propylene Glycol Fragrance Grade (DPGF) 100%
Tri-Propylene Glycol (TPG) 80%
Tri-Propylene Glycol Acrylate Grade (TPGA) 80%
Please note that during the period of allocation, customers will not be permitted to borrow ahead of their
monthly amounts and unused portions of monthly amounts cannot be added to any subsequent month’s
amounts. Additionally, allocations are subject to third party carrier availability and other logistical
infrastructure limitations, including, but not limited to, railcar, tank truck, barge/vessel, terminal and port
availability, and production status of our manufacturing facilities, any of which may impact Product
availability, delivery dates, and order fulfillment. The duration of the force majeure event cannot be
determined at this time and the percentage of allocation may change as new information becomes
available.
As always, your account manager is available to address any questions or concerns you may have
regarding this force majeure event. We value the trust you place in Lyondell Chemical Company as a
supplier and we apologize for the inconvenience this may cause you.
Thank you for your understanding and patience.
March 30, 2021
March 30, 2021
Subject: Propylene Oxide & Derivatives – Force Majeure Event
Dear Valued Customer,
Per the previous letter dated February 16, 2021, Lyondell Chemical Company declared a force majeure
event for all products within our Americas Propylene Oxide & Derivatives Portfolio – Propylene Oxide,
Propylene-Glycols, Allyl Alcohol, Butanediol & Derivatives, Propylene-Series Glycol Ethers and
Propylene-Specialties Glycol Ethers, effective February 16, 2021.
In a letter dated February 25, 2021, Lyondell Chemical Company announced a sales allocation for
Propylene Glycol, effective March 1, 2021. For the foreseeable future, Lyondell Chemical Company is
updating the previously announced sales allocation for Propylene Glycol, as outlined below. Allocation
volumes have been determined based on customer’s average monthly purchases for the previous 6 months
(August 2020 – January 2021). This allocation will be effective April 1, 2021.
Product Allocation
Mono-Propylene Glycol Industrial Grade (PGI) 90%
Mono-Propylene Glycol USP/EP Grade (PG USP/EP) 90%
Di-Propylene Glycol Industrial Grade (DPGI) 100%
Di-Propylene Glycol Fragrance Grade (DPGF) 100%
Tri-Propylene Glycol (TPG) 80%
Tri-Propylene Glycol Acrylate Grade (TPGA) 80%
Please note that during the period of allocation, customers will not be permitted to borrow ahead of their
monthly amounts and unused portions of monthly amounts cannot be added to any subsequent month’s
amounts. Additionally, allocations are subject to third party carrier availability and other logistical
infrastructure limitations, including, but not limited to, railcar, tank truck, barge/vessel, terminal and port
availability, and production status of our manufacturing facilities, any of which may impact Product
availability, delivery dates, and order fulfillment. The duration of the force majeure event cannot be
determined at this time and the percentage of allocation may change as new information becomes
available.
As always, your account manager is available to address any questions or concerns you may have
regarding this force majeure event. We value the trust you place in Lyondell Chemical Company as a
supplier and we apologize for the inconvenience this may cause you.
Thank you for your understanding and patience.
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