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Everchem Updates
VOLUME XXI
September 14, 2023
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February 5, 2019
We are pleased to announce the acquisition of Sonneborn by HollyFrontier Corporation was
completed on February 1, 2019.
With this addition to our organization, HollyFrontier becomes a leading global supplier of
specialty products. Sonneborn’s strong brand recognition and diversified portfolio of products
complements HollyFrontier’s existing lubricants and specialty products business. Sonneborn
will operate within the HollyFrontier Lubricants and Specialty Products (HFLSP) umbrella
along with Petro-Canada Lubricants and Red Giant Oil.
We look forward to strengthening our global footprint through processing and blending
capabilities in North America and Europe and expanding our technical expertise.
HFLSP and its subsidiaries will continue to remain focused on providing quality products and
service to our customers, while maintaining safe and reliable operations.
If you have any questions, please reach out to your account representative.
February 5, 2019
We are pleased to announce the acquisition of Sonneborn by HollyFrontier Corporation was
completed on February 1, 2019.
With this addition to our organization, HollyFrontier becomes a leading global supplier of
specialty products. Sonneborn’s strong brand recognition and diversified portfolio of products
complements HollyFrontier’s existing lubricants and specialty products business. Sonneborn
will operate within the HollyFrontier Lubricants and Specialty Products (HFLSP) umbrella
along with Petro-Canada Lubricants and Red Giant Oil.
We look forward to strengthening our global footprint through processing and blending
capabilities in North America and Europe and expanding our technical expertise.
HFLSP and its subsidiaries will continue to remain focused on providing quality products and
service to our customers, while maintaining safe and reliable operations.
If you have any questions, please reach out to your account representative.
February 5, 2019
Tosoh Reports Its Consolidated Results for the First Nine Months of Fiscal 2019
Tokyo, Japan- Tosoh Corporation is pleased to announce its cumulative consolidated results for the first three quarters of its 2019 fiscal year, from April 1, 2018, to December 31, 2018.
The company’s consolidated net sales for the nine-month period under review were ￥645.8 billion (US$5.8 billion), up ￥43.9 billion, or 7.3%, from the same period of fiscal 2018. The increase was attributable to higher sales prices driven by an increase in the price of naphtha and to orders received by the Engineering Group for semiconductor-related plants.
Operating income, though, was ￥79.6 billion (US$716 million), down ￥14.7 billion, or 15.6%, from the same period one year earlier. This was due to the worsening of trade conditions caused by increased raw material and fuel prices. Ordinary income also decreased, ￥16.5 billion, or 16.6%, compared with the same period in fiscal 2018, to ￥83.2 billion (US$748 million), due to factors including lower foreign exchange gains. And profit attributable to owners of the parent company was down ￥12.6 billion, or 18.3%, to ￥56.4 billion (US$507 million).
During the first nine months of fiscal 2019, the Japanese economy showed signs of a gradual recovery, with improvements in corporate earnings and in employment and income. Concerns, however, over a global economic slowdown due to trade friction between the US and China contributed to heightened uncertainty.
Results by business segment
Petrochemical Group
Petrochemical Group net sales rose ￥9.2 billion, or 6.8%, to ￥144.6 billion (US$1.3 billion), compared with the same period the previous year. The group’s operating income, however, decreased ￥5.3 billion, or 29.9%, to ￥12.3 billion (US$111 million) due to the worsening of trade conditions.
Shipments of olefin products, such as ethylene and propylene, decreased in line with decreases in production volume amid scheduled annual plant maintenance. But product prices rose, reflecting the increase in naphtha and other costs.
Domestic shipments of polyethylene resin fell, but product prices increased to reflect higher naphtha costs. And although chloroprene rubber shipments decreased in line with a decrease in production volume, export prices increased on strong demand overseas.
Chlor-alkali Group
The Chlor-alkali Group’s net sales amounted to ￥254.0 billion (US$2.3 billion), an increase of ￥11.0 billion, or 4.6%, compared with the same period in fiscal 2018. Operating income, however, decreased ￥13.6 billion, or 29.5%, to ￥32.6 billion (US$293 million) due to the worsening of trade conditions
Domestic and overseas shipments of caustic soda were strong, and despite a worsening of market conditions overseas, prices increased because of price revisions in Japan. Shipments and product prices of vinyl chloride monomer increased on the strength of improved market conditions overseas. Shipments of polyvinyl chloride resin decreased amid a decrease in production volume, but product prices rose because of changes in domestic prices and improved market conditions overseas.
Domestic cement shipments were strong. But exports of cement decreased.
Shipments of methylene diphenyl diisocyanate (MDI) decreased, and MDI export prices fell on account of worsening market conditions overseas.
http://www.publicnow.com/view/D0A6FC38FF8813EB679D05DD00383DBB27DDAD24
February 5, 2019
Tosoh Reports Its Consolidated Results for the First Nine Months of Fiscal 2019
Tokyo, Japan- Tosoh Corporation is pleased to announce its cumulative consolidated results for the first three quarters of its 2019 fiscal year, from April 1, 2018, to December 31, 2018.
The company’s consolidated net sales for the nine-month period under review were ￥645.8 billion (US$5.8 billion), up ￥43.9 billion, or 7.3%, from the same period of fiscal 2018. The increase was attributable to higher sales prices driven by an increase in the price of naphtha and to orders received by the Engineering Group for semiconductor-related plants.
Operating income, though, was ￥79.6 billion (US$716 million), down ￥14.7 billion, or 15.6%, from the same period one year earlier. This was due to the worsening of trade conditions caused by increased raw material and fuel prices. Ordinary income also decreased, ￥16.5 billion, or 16.6%, compared with the same period in fiscal 2018, to ￥83.2 billion (US$748 million), due to factors including lower foreign exchange gains. And profit attributable to owners of the parent company was down ￥12.6 billion, or 18.3%, to ￥56.4 billion (US$507 million).
During the first nine months of fiscal 2019, the Japanese economy showed signs of a gradual recovery, with improvements in corporate earnings and in employment and income. Concerns, however, over a global economic slowdown due to trade friction between the US and China contributed to heightened uncertainty.
Results by business segment
Petrochemical Group
Petrochemical Group net sales rose ￥9.2 billion, or 6.8%, to ￥144.6 billion (US$1.3 billion), compared with the same period the previous year. The group’s operating income, however, decreased ￥5.3 billion, or 29.9%, to ￥12.3 billion (US$111 million) due to the worsening of trade conditions.
Shipments of olefin products, such as ethylene and propylene, decreased in line with decreases in production volume amid scheduled annual plant maintenance. But product prices rose, reflecting the increase in naphtha and other costs.
Domestic shipments of polyethylene resin fell, but product prices increased to reflect higher naphtha costs. And although chloroprene rubber shipments decreased in line with a decrease in production volume, export prices increased on strong demand overseas.
Chlor-alkali Group
The Chlor-alkali Group’s net sales amounted to ￥254.0 billion (US$2.3 billion), an increase of ￥11.0 billion, or 4.6%, compared with the same period in fiscal 2018. Operating income, however, decreased ￥13.6 billion, or 29.5%, to ￥32.6 billion (US$293 million) due to the worsening of trade conditions
Domestic and overseas shipments of caustic soda were strong, and despite a worsening of market conditions overseas, prices increased because of price revisions in Japan. Shipments and product prices of vinyl chloride monomer increased on the strength of improved market conditions overseas. Shipments of polyvinyl chloride resin decreased amid a decrease in production volume, but product prices rose because of changes in domestic prices and improved market conditions overseas.
Domestic cement shipments were strong. But exports of cement decreased.
Shipments of methylene diphenyl diisocyanate (MDI) decreased, and MDI export prices fell on account of worsening market conditions overseas.
http://www.publicnow.com/view/D0A6FC38FF8813EB679D05DD00383DBB27DDAD24
February 1, 2019
Howard Ungerleider
In the Materials Science division, we expect continued strong consumer demand though at a moderately slower pace than in 2018. We expect operating EBITDA to be down low-20% as volume growth, cost synergies and the benefit from the completion of our U.S. Gulf Coast investments will be more than offset by lower chain margins spreads that will continue into the first quarter, due to the averaging effect particularly on our polyethylene and isocyanates chains. The division is acting quickly on a series of actions to offset as much of these headwinds as possible, including cost and productivity actions, capitalizing on new capacity additions, and driving pricing improvements.
Jim Fitterling
Here are some division highlights. We again captured demand growth across the majority of our core businesses. We achieved high-single digit volume growth in Polyurethanes and Industrial Solutions and our Packaging & Specialty Plastics business grew volume 4%.
Industrial Intermediates & Infrastructure operating EBITDA declined by 18%, primarily driven by a contraction in isocyanates that impacted core business results, particularly in Polyurethanes, as well as some softening in appliance and automotive end markets. The contraction in isocyanate spreads, along with a 25% margin compression in MEG also led to year-over-year reduction in equity earnings. These headwinds more than offset demand growth and benefits from cost synergies.
Sales gains in both Polyurethanes and Chlor-Alkali and Vinyl and Industrial Solutions were led by a robust volume growth due to increased supply from Sadara. In the Polyurethanes chain, the moderation in isocyanates prices that we’ve forecasted for some time accelerated in the quarter with MDI prices dropping about 40% year-over-year. In our view, the fly-up margins that we captured over the past year completely unwound over the course of the fourth quarter, notably in Asia Pacific and Europe, where we have the largest merchant isocyanate exposure.
https://seekingalpha.com/article/4237151-dowdupont-inc-dwdp-ceo-edward-breen-q4-2018-results-earnings-call-transcript?part=single
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