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VOLUME XXI

September 14, 2023

Everchem’s Closers Only Club

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

December 24, 2019

LyondellBasell Announces Chinese PO Plant

LyondellBasell and Sinopec plan new China JV to produce PO and SM

09:35 AM | December 24, 2019 | Natasha Alperowicz

LyondellBasell has announced plans to form a 50/50 joint venture (JV) with Sinopec to build a propylene oxide (PO) and styrene monomer (SM) manufacturing complex at Zhenhai, Ningbo, China targeting domestic Chinese markets. The venture will build on the existing LyondellBasell/Sinopec PO/SM venture at the same location, which operates under the name Ningbo ZRCC Lyondell Chemical Co.

The new complex is expected to produce 300,000 metric tons/year of PO and 600,000 metric tons/year of SM. Construction will begin in early 2020 with start-up expected in 2022. The facility will use LyondellBasell’s PO/SM technology. Products produced will be marketed equally by both companies. The existing facility at Ningbo is designed to produce 620,000 metric tons/year of SM, according to IHS Markit data.

According to IHS Markit, China makes up more than 60% of the Asian chemicals market demand and represents 40% of global chemicals growth over the next decade. PO and SM are core products for LyondellBasell.

“Joint ventures in strategic regions are an important part of our growth strategy,” said Bob Patel, CEO of LyondellBasell. “As demand for construction materials, packaging, and furnishings continues to grow, we see an opportunity to bring together our leading technology with Sinopec’s operational capabilities to further serve the Chinese market.”

LyondellBasell also recently signed an agreement with Liaoning Bora Enterprise Group to form a 50/50 JV to operate a 1.1-million metric tons/year steam cracker and polyolefin plants at Panjin, China. Separately, LyondellBasell is currently building the largest next-generation PO/tertiary butyl alcohol plant in the world near Houston, Texas.  “This cooperation on the second PO/SM unit between Sinopec and LyondellBasell is based on the successful partnership of the first unit,” said Dai Houliang, chairman of Sinopec. “It is in line with China’s further opening-up policy and is another achievement of international cooperation of Sinopec. The products will help meet the increasing demand from the domestic market.

https://chemweek.com/CW/Document/108152/

December 24, 2019

LyondellBasell Announces Chinese PO Plant

LyondellBasell and Sinopec plan new China JV to produce PO and SM

09:35 AM | December 24, 2019 | Natasha Alperowicz

LyondellBasell has announced plans to form a 50/50 joint venture (JV) with Sinopec to build a propylene oxide (PO) and styrene monomer (SM) manufacturing complex at Zhenhai, Ningbo, China targeting domestic Chinese markets. The venture will build on the existing LyondellBasell/Sinopec PO/SM venture at the same location, which operates under the name Ningbo ZRCC Lyondell Chemical Co.

The new complex is expected to produce 300,000 metric tons/year of PO and 600,000 metric tons/year of SM. Construction will begin in early 2020 with start-up expected in 2022. The facility will use LyondellBasell’s PO/SM technology. Products produced will be marketed equally by both companies. The existing facility at Ningbo is designed to produce 620,000 metric tons/year of SM, according to IHS Markit data.

According to IHS Markit, China makes up more than 60% of the Asian chemicals market demand and represents 40% of global chemicals growth over the next decade. PO and SM are core products for LyondellBasell.

“Joint ventures in strategic regions are an important part of our growth strategy,” said Bob Patel, CEO of LyondellBasell. “As demand for construction materials, packaging, and furnishings continues to grow, we see an opportunity to bring together our leading technology with Sinopec’s operational capabilities to further serve the Chinese market.”

LyondellBasell also recently signed an agreement with Liaoning Bora Enterprise Group to form a 50/50 JV to operate a 1.1-million metric tons/year steam cracker and polyolefin plants at Panjin, China. Separately, LyondellBasell is currently building the largest next-generation PO/tertiary butyl alcohol plant in the world near Houston, Texas.  “This cooperation on the second PO/SM unit between Sinopec and LyondellBasell is based on the successful partnership of the first unit,” said Dai Houliang, chairman of Sinopec. “It is in line with China’s further opening-up policy and is another achievement of international cooperation of Sinopec. The products will help meet the increasing demand from the domestic market.

https://chemweek.com/CW/Document/108152/

December 23, 2019

BASF To Sell Construction Chemicals

BASF to sell construction chemicals unit for $3.5B

Published: Dec 22, 2019 9:11 p.m. ET

By

SaraGermano

BERLIN — Chemicals giant BASF said it has agreed to sell its construction chemicals unit for EUR3.17 billion ($3.52 billion), as the German company works to boost profitability through ongoing turnaround efforts.

The sale, to private-equity firm Lone Star Funds, is expected to close in the third quarter of 2020 and is subject to regulatory approval, BASF said in a statement Saturday.

Donald Quintin, president of Europe at Lone Star, said the acquisition will complement the fund’s existing investments in the construction materials industry.

Over the past year BASF has announced job cuts and slashed profit expectations as it works to contend with slowing demand, particularly in the automotive sector, as well as the effects of the continuing U.S.-China trade war. Its portfolio of products extends from oil and gas to plastics and agriculture.

In July, the company said it would cut 6,000 jobs, or 5% of its global workforce, by 2021 in an effort to generate annual savings of EUR300 million. Those cuts came several months after BASF laid out restructuring efforts in November 2018.

For the most recent quarter ended in September, the construction chemicals business recorded sales growth of 5% over the prior-year period, mainly due to currency effects. BASF said the unit includes 7,000 employees in 60 countries around the world, with annual sales of EUR2.5 billion in 2018.

Dallas-based Lone Star was founded in 1995 and comprises 20 funds with total capital commitments of approximately $85 billion, according to its website.

Write to Sara Germano at sara.germano@wsj.com

https://www.marketwatch.com/story/basf-to-sell-construction-chemicals-unit-for-35b-2019-12-22

December 23, 2019

BASF To Sell Construction Chemicals

BASF to sell construction chemicals unit for $3.5B

Published: Dec 22, 2019 9:11 p.m. ET

By

SaraGermano

BERLIN — Chemicals giant BASF said it has agreed to sell its construction chemicals unit for EUR3.17 billion ($3.52 billion), as the German company works to boost profitability through ongoing turnaround efforts.

The sale, to private-equity firm Lone Star Funds, is expected to close in the third quarter of 2020 and is subject to regulatory approval, BASF said in a statement Saturday.

Donald Quintin, president of Europe at Lone Star, said the acquisition will complement the fund’s existing investments in the construction materials industry.

Over the past year BASF has announced job cuts and slashed profit expectations as it works to contend with slowing demand, particularly in the automotive sector, as well as the effects of the continuing U.S.-China trade war. Its portfolio of products extends from oil and gas to plastics and agriculture.

In July, the company said it would cut 6,000 jobs, or 5% of its global workforce, by 2021 in an effort to generate annual savings of EUR300 million. Those cuts came several months after BASF laid out restructuring efforts in November 2018.

For the most recent quarter ended in September, the construction chemicals business recorded sales growth of 5% over the prior-year period, mainly due to currency effects. BASF said the unit includes 7,000 employees in 60 countries around the world, with annual sales of EUR2.5 billion in 2018.

Dallas-based Lone Star was founded in 1995 and comprises 20 funds with total capital commitments of approximately $85 billion, according to its website.

Write to Sara Germano at sara.germano@wsj.com

https://www.marketwatch.com/story/basf-to-sell-construction-chemicals-unit-for-35b-2019-12-22

December 20, 2019

Evonik Polyurethanes Names Vice President

17. December 2019

Evonik Polyurethanes: Osama Arabi Katbi new Vice President Americas

Effective from 1 November 2019, Osama Arabi Katbi has been appointed as new Vice President Americas for Evonik’s Polyurethanes business, Comfort & Insulation. Based in Allentown, PA, USA, he will be a member of the global Management Team and responsible for leading the business within the Americas region.

Osama Arabi Katbi (Source: Evonik)

Osama Arabi Katbi (Source: Evonik)

Having spent nearly 20 years with Evonik, Osama Arabi Katbi began his career in 2000 when he joined the Process Technology and Engineering group as a process engineer in Mobile, AL, USA. He has since worked for Evonik’s Oil Additives business, first in manufacturing and then in supply chain. He then joined Procurement in Parsippany, NJ, USA, before moving to Germany to take up a position in Evonik’s Procurement Strategy group.

Prior to joining Comfort & Insulation, he has been working for the company’s Health Care business as a Global Business Director within the Pharma & Food Ingredients product line leading global business strategy, marketing, pricing and product development for health care and medical nutrition applications.

www.evonik.com

https://www.gupta-verlag.com/news/personnel/23658/evonik-polyurethanes-osama-arabi-katbi-new-vice-president-americas