Chem trade group puts chance of US recession at one in three

(ICIS) -- The American Chemistry Council (ACC) increased the chance of the US slipping back into a recession to one in three, up from one in four in July, the chemical trade group said on Tuesday.
Softness in the manufacturing industry, the weakening of export markets and the Purchasing Managers' Index growing at a slower rate are all signs that a recession may be on the horizon, said ACC economist Martha Moore.

Regardless, Moore said the ACC's forecast for the chemicals industry is for continued growth, albeit at a slower pace. The country's ethane advantage because of the shale gas revolution will continue to be a positive for the industry, Moore said. Unlike much of the world, the US uses ethane instead of naphtha as a feedstock.

Meanwhile, the US Federal Reserve Board on Tuesday announced it would keep interest rates at historic lows for at least two years in order to boost consumer and market confidence in the wake of economic uncertainty.

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(Honeywell) -- UOP LLC, a Honeywell company, announced that Oman Oil Refineries and Petroleum Industries (Orpic) has selected UOP/Foster Wheeler technology to help process heavy oil and expand fuel and petrochemicals production at a refinery in Sohar, Oman.


Orpic will use the UOP/Foster Wheeler Solvent Deasphalting (SDA) process technology to convert heavy crude to low-contaminant deasphalted oil, a product that is further processed in refineries to produce liquefied petroleum gas (LPG), gasoline, jet fuel, diesel and propylene. The new unit will process 2.5 million metric tonnes per year of heavy crude to significantly increase the refinery's production of valuable petroleum products.


Honeywell's UOP and Foster Wheeler in collaboration will provide the technology license and basic engineering package for the new unit, which is expected to start up in 2015.

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(SpecialChem) -- NanoBioMatters, Valencia, Spain announced that its BactiBlock antimicrobial polymer preservative has been registered by the Environmental Protection Agency (EPA) for use in the U.S. BactiBlock is a very durable and cost-effective solution based on silver-functionalized clay and is designed to suppress the growth of algae, mold, mildew, fungi, and bacteria, which cause deterioration, odors, corrosion, and stains in polymer-based products.

"The recent EPA registration opens the door for commercial entry of these unique antimicrobial preservatives into the U.S.," said Ole Faarbaek, Vice President of NanoBioMatters North America. BactiBlock antimicrobial preservatives are already produced at commercial scale, having been used in Europe since 2010. "Several major U.S. brand owners in key markets have finalized testing and commercial use in the U.S. is expected later this year," added Faarbaek.

The proprietary and patent-pending BactiBlock technology features purified and modified phyllosilicate clay which is used as a performance-enhancing carrier of the silver antimicrobial agent. BactiBlock is engineered for long-term applications and will provide superior antimicrobial performance for several years.

The BactiBlock range of products are compatible for use with a range of polymers and plastics including polyolefins, engineering resins, powder coatings, liquid coatings, and thermosets. The additive can be delivered as a micronized powder, gel concentrate, or a masterbatch and specific levels of each component can be fine tuned to achieve the desired performance.

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(Plastemart) -- Petron Corp. reported more than double profits in H1-2011 on account of substantial revenue growth. Petron earnings spiked P6.04 bln from P2.96 bln in H1-2010, mainly due to its diversification into petrochemicals.

"While Petron continues to show strong results from its core businesses, we are now reaping the benefits from the production of higher-margin petrochemical feedstocks," Ramon Ang, Petron chairman and chief executive officer, said. Exports primarily of petrochemicals jumped by 54% to 3.14 mln barrels. Overall revenues however were partly offset by the drop in domestic volumes of 1.9 mln barrels amid reduced domestic demand for fuel.

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(Celanese) -- The Metroplex Technology Business Council, the largest technology trade organization in Texas, has named Celanese Corporation, a global technology and specialty materials company, a finalist in the ⌠Innovator category as part of the 11th Annual Tech Titans and Titan Fast Tech Awards. Tech Titans are recognized as outstanding technology companies and individuals in the North Texas area who have made significant contributions to their industries during the past year.

Celanese has been named a finalist for its technical advancements in the production of industrial and fuel-grade ethanol. Celanese has developed an advanced process to produce ethanol from non-food sources. The new process, known as TCX, integrates elements of Celanese's leading acetyl technologies with new advancements to manufacture ethanol from basic hydrocarbon sources such as natural gas, coal and pet coke.

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