BASF evaluates its product portfolio for sustainability

MOSCOW (MRC) -- In order to better help its customers align environmental and societal aspects with business success, BASF has developed a new process for steering its portfolio based on sustainability criteria reported the company on its site.

The Sustainable Solution Steering method is used to systematically review and evaluate the sustainability aspects of the approximately 50,000 relevant product applications in the company’s portfolio, which represent sales of EUR56 billion. The benefit: This externally validated process makes it possible to measure the products’ contribution to sustainability within their various markets and industries and to increase this contribution through targeted steps.

Over the past three years, BASF has already analyzed more than 80% of its portfolio of around 50,000 specific product applications. The data shows, for example, how a product contributes to cost effectiveness and resource conservation as well as to health and safety. The concrete sustainability requirements of various customer industries are taken into account as well as regional differences. Finally, the process determines the extent to which BASF solutions can accommodate these needs.

The whole product portfolio will have been analyzed by the end of 2014.

With this new method, BASF continues to drive its "We create chemistry" strategy. "It is becoming increasingly important to our customers to be able to combine economic, environmental and societal demands. We see this development as a business opportunity for BASF, and intend to seize it in a targeted manner. This approach forms an integral part of our corporate purpose: ‘We create chemistry for a sustainable future.’ By analyzing our entire portfolio with respect to sustainability and systematically expanding on especially sustainable solutions, we underscore this endeavor," said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF.

As MRC wrote before, in July 2014, BASF Shanghai Coatings Co., Ltd. inaugurated its new automotive coatings plant at the Shanghai Chemicail Industry Park in Shanghai, China. The expansion of its automotive coatings production capacity with an investment of around EUR50 million further strengthens BASF’s presence in China and its position as a leading coatings supplier to the automotive industry.

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF had sales of about EUR74 billion in 2013 and over 112,000 employees as of the end of the year.
MRC

MOSCOW (MRC) -- The Dow Chemical Company announced that Chief Financial Officer William H. (Bill) Weideman has elected to retire from the Company, following 38 years of service with Dow, said the producer in its press release.

The Board of Directors has elected Howard I. Ungerleider to succeed him as chief financial officer, and his appointment will become effective October 1, 2014. Weideman most recently served as executive vice president and chief financial officer, a role he assumed in November 2009. He will officially retire at the end of 2014, and will begin working with Ungerleider to ensure a smooth transition of leadership responsibilities.

Ungerleider, 46, joined Dow in 1990 and his career has spanned a wide variety of commercial, business, financial, geographic, functional and enterprise-level leadership roles globally. In 2006, he was appointed North American commercial vice president for Dow's $6 billion Basic Plastics business portfolio. From 2008 to 2011, Ungerleider served as vice president of Investor Relations, where he was responsible for creating and driving an investor outreach program regarding Dow's strategic transformation and performance in the midst of the worst global economic crisis in decades.

He was named president for Dow’s Performance Plastics Division in 2011, and in 2012 was named executive vice president of Dow’s Advanced Materials Division, and joined Dow’s senior-most executive team. Under his leadership, the Advanced Materials businesses have grown to more than $11 billion in sales across more than 130 countries.

Weideman, 60, joined Dow in 1976 and held numerous financial leadership roles during the span of his nearly 40-year career. He was appointed vice president and corporate controller in 2006, interim chief financial officer in November 2009 and was named to his current position in 2010. He assumed responsibility for Corporate Strategic Development and executive oversight for Dow AgroSciences in August 2012. He has also served as a member of the Company’s Executive Committee.

As MRC wrote earlier, Dow Chemical Co is not entitled to more than USD1 billion of tax deductions based on a decade of transactions with "sham" partnerships that Goldman Sachs Group Inc and the law firm King & Spalding promoted. A unanimous three-judge panel of the 5th U.S. Circuit Court of Appeals let stand a lower court ruling that Dow entered the two Chemtech partnerships that ran from 1993 to 2003 mainly to avoid taxes, and had no legitimate business purpose for them.

The Dow Chemical Company is an American multinational chemical corporation. As of 2007, it is the second-largest chemical manufacturer in the world by revenue (after BASF) and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont). Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.
MRC

MOSCOW (MRC) -- Idemitsu SM Malaysia, an affiliate of Idemitsu Kosan, is in plans to restart its styrene monomer (SM) plan, reported Apic-online.

A Polymerupdate source in Malaysia informed that the plant is planned to be restarted on September 15, 2014. It was shut for maintenance turnaround.

Located at Pasir Gudang in Malaysia, the plant has a production capacity of 240,000 mt/year.

As MRC wrote previously, Idemitsu SM (Malaysia) shut down its SM plant for maintenance in August 2014. It is likely to remain shut for around one month. Located at Pasir Gudang in Malaysia, the SM plant has a production capacity of 600,000 mt/year.

Idemitsu Kosan is a Japanese petroleum company. It owns and operates oil platforms, refineries and produces and sells petroleum, oils and petrochemical products. The company runs two petrochemical plants in Chiba and Tokuyama. The two naphtha crackers can produce up to 997,000 tonnes of ethylene per year.
MRC

MOSCOW (MRC) - Kazanorgsintez plans to shut its high density polyethylene (HDPE) capacities for scheduled maintenance works from 15, September. Traditionally HDPE prices increased after the producer shut its capacities for a turnaround, the current year is no exception, according to ICIS-MRC Price Report.

Kazanorgsintez, the largest Russian HDPE producer, intends to finish its maintenance works in the first decade of October. Scheduled maintenance works at the producer's HDPE production usually led to a shortage of the material in the market, resulting in a price rise.

The current year will be no exception, as the situation worsens by the shutdown of Stavrolen. The shutdown of the second largest HDPE producer in Russia - Stavrolen has already led to a serious increase in the price of all PE grades in the market.

The biggest shortage is felt in the market of blow moulding and injection moulding HDPE. Price offers for above said PE grades are practically absent in the market, with small volumes of stocks left reaching Rb95,000/tonne FCA, FCA, including VAT.

Traders have offered imported blow moulding and injection moulding HDPE in the spot market, in particular Middle Eastern material. Price offers for Middle Eastern blow moulding and injection moulding HDPE were heard in the range Rb86,000-88,000/tonne FCA, including VAT.

At the same time, in spite of such a serious difference in price with the Russian polyethylene, many local converters do not rush to buy imported HDPE. The market of film HDPE is excessive at the moment due to to a steady supply of material from the Kazanorgsintez and Nizhnekamskneftekhim. The low end of the price in the beginning of the month was at Rb82,500/tonne FCA, including VAT.

But in the next two weeks, the situation can radically change. Kazanorgsintez is to shut its HDPE capacities; Nizhnekamskneftekhim will reduce production rates at its HDPE capacities because of the scheduled maintenances at the production of ethylene, moreover the producer switches to linear low density polyethylene (LLDPE) production from October for a month.

In general, taking into account the plans of Russian producers over the next two months, he market faces inevitable shortage of injection moulding HDPE. Both producers are not going to produce it until November.

Supply of blow moulding HDPE will be also tight to mid October because of the turnaround at Kazanorgsintez. There can be some shortage felt in film HDPE market; however, demand for it seasonally decreases, besides some traders plan to deliver significant volumes of Middle Eastern material in October.
MRC

MOSCOW (MRC) -- Eastman Chemical Company, a specialty chemical company, and Helian Polymers, a leader in the masterbatch and biopolymer industry, have teamed to launch colorFabb XT-Copolyester made with Eastman Amphora 3D polymer, reported Eastman on its site.

The new low-odor, styrene-free polymer is uniquely suited for the 3D market with benefits in air quality, dimensional stability and regulatory compliance.

The collaboration between Eastman and Helian, brand owner of colorFabb, began in 2013 with the goal of developing a solution for functional 3D products printed using extrusion-based 3D printing. The companies worked to test materials and formulations, utilizing their expertise in high-performance polymers and 3D printing filaments. Eastman’s history with a broad portfolio of solutions and technical expertise complemented Helian’s innovative work with 3D printers and filaments. The resulting colorFabb XT-Copolyester made with Eastman Amphora 3D polymer focuses on functionality and features strength, workability, processing, aesthetics and low odor for 3D printed products.

Eastman Amphora 3D polymers will provide makers of 3D filaments with a consistent, high-quality product. It will empower consumers to create strong, functional 3D products through desktop printing, while ensuring good air quality and dimensional stability with a material that complies with FDA regulations. Looking to the future, Eastman is considering tailoring options - like color and texture - for additional solutions.

As MRC wrote previously, earlier this year, Eastman Chemical Company, enhanced its medical packaging portfolio with Eastalite copolyester, the company’s first opaque offering, which is styrene-free and can be a sustainable alternative to high-impact polystyrene (HIPS).

Headquartered in Venlo, the Netherlands, Helian Polymers has years of experience in the masterbatch and biopolymer industry. Its goal is to provide the plastic processing market with the best possible solutions with respect to customer needs.

Eastman (headquartered in Kingsport, Tennessee, USA) is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables.
MRC