Eastman Chemical to expand ester alcohol output by 20% at Texas plant

MOSCOW (MRC) -- Eastman Chemical has announced a planned increase in its Eastman Texanol ester alcohol manufacturing capacity in Longview, Texas, reported Hydrocarbonprocessing.

The plant expansion is expected to be complete in the second half of 2016 and will increase capacity by more than 20%.

In addition to its largest Texanol site in Longview, Eastman also manufactures the product at its Jurong Island, Singapore site and at its joint venture in Zibo, China.

"This expansion at our largest and fully integrated site positions Eastman to meet the needs of coalescent customers around the world," said Lucian Boldea, vice president and general manager of Eastman’s additives and functional products segment. "This investment further solidifies Eastman’s leading position in the architectural coatings market."

Texanol ester alcohol is a coalescent used in latex paints found in the building and construction market. Eastman coalescents enable maximum film formation by softening latex particles and allowing them to fuse into a tough, continuous film, improving overall paint performance.

Common coalescents include ester alcohols, esters, and glycol ethers.

As MRC wrote before, in early December, Eastman Chemical Company announced the completion of its acquisition of Taminco Corporation, a global specialty chemical company, for a total of USD2.8 billion in cash and assumed debt. The acquired Taminco businesses are expected to be accretive to 2015 earnings per share by greater than USD0.35, excluding acquisition-related costs and charges, and to 2016 earnings per share by greater than USD0.60.

Eastman 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. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2013 revenues of approximately USD9.4 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world.
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MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company and a global leader in EVA emulsions, will increase list and off-list selling prices of the products stated below effective January 1, 2015, or as contracts allow, reported the company on its site.

Thus, prices of acetic anhydride will increase by USD50/mt in Americas.

As MRC informed previously, Celanese Corporation raised November prices of vinyl acetate-based emulsions sold in the Americas. Thus, PVAc homopolymer, EVA and vinyl acrylic emulsions increased by up to USD0.05/wet pound effective November 1, 2014, or as contracts allowed. This increase was attributed to the continued pressures on raw materials, notably vinyl acetate monomer (VAM), and freight and affected all applications including, but not limited to, adhesives, paints and coatings, building products, nonwovens, glass fiber, carpet, paper and textiles.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of USD6.5 billion.
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MOSCOW (MRC) -- In line with The Dow Chemical Company’s objective to strengthen its geographic focus, Deborah Borg, vice president of the Human Resource Partner Organization, has been named president of Dow USA, reported the company on its site.

In this role, she will continue to be based in Midland, Michigan, and will report to Joe Harlan, chief commercial officer and vice chairman, Market Businesses, and will be fully accountable to the Office of the Chief Executive.

"As we have said many times, our efforts are concentrated in select markets where we can be narrowly, but more deeply focused, and this requires a local approach to running our global businesses," says Harlan. "Deborah has been a key partner with our businesses throughout her career with Dow. In addition, she has played an invaluable role in the development and implementation of the Company’s corporate strategy. Her experiences will help set a clear path forward for our growth objectives in the United States."

In this role, Borg will be responsible for coordinating Dow’s activities across the United States. She will develop and oversee a strategy for Dow USA, coordinating closely with the businesses, functions and operations to drive results. Borg will play an instrumental role in representing Dow's interests to key stakeholders, including customers, suppliers, joint venture partners, key government organizations, and our communities. She will serve as a company spokesperson and manage issues that affect US government policy, public policy and Dow’s businesses.

Andrew N. Liveris, Dow chairman and chief executive officer stated, "Many large global corporations, like Dow, are increasingly focusing on their home location - the United States - as a market with incredible opportunities. The need for a strong leader to represent our interest and to develop and oversee a strategy in the US has been in discussion for some years, and with Deborah’s appointment, we are now ready to fully address the opportunities for Dow."

As MRC wrote before, in November 2014, Dow Chemical announced an increased divestiture target aligned to further enhance the value of its portfolio and support the company’s market-driven, integrated strategy. On track to complete its goal of realizing USD4.5 billion to USD6 billion in proceeds by year-end 2015, and with additional portfolio management actions underway, Dow is now increasing its divestiture target to USD7 billion to USD8.5 billion to be complete by mid-2016. Since 2013, the company has generated USD2.5 billion in proceeds, reallocating this capital to remunerate shareholders, fund growth and reduce debt.

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.

MOSCOW (MRC) -- Total, one of the leading companies in petrochemicals and Europe's third-largest oil company, has reached a new milestone in its innovation path for polypropylene (PP), and is now able to offer a complete range of polymers using non-phthalate catalysts, as per the company's press release.

The company’s pioneering approach covers all conversion technologies and has led to the development of dozens of grades of homopolymers, random copolymers, and - most challenging of all - impact copolymers. Grades have been developed to meet existing specifications.

Working in close cooperation with industry partners, Total has identified numerous segments that could benefit from an extension of its offering of non-phthalate catalyzed PP, mainly in packaging, flexible and rigid, healthcare and personal care applications, including the medical market. This is why several years ago an ambitious development program was launched to provide a full range of PP produced with such catalysts.

"We have upgraded our offering for our partners in packaging, health and personal care markets, and beyond," says Jean-Francois Renglet, Vice President Polymers Europe. "This is a perfect example of our full commitment to create the best solutions for our customers. It is the culmination of an evolution in our PP portfolio that started several years ago."

Total now markets non-phthalate catalyzed PP solutions to produce trays, boxes, pails, caps, bottles among other. Film converters using BOPP, cast and blown technologies, for instance, are prescribing the new grades from Total for a wide range of food packaging applications.

As MRC informed previously, Total is in plans to permanently shut its high density polyethylene (HDPE) line in Belgium by this year-end. The plant will be shut permanently owing to weak margins which have arisen on account of cheap imports in the region. Located at Antwerp in Belgium, the line has a production capacity of 70,000 mt/year.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
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MOSCOW (MRC) -- Petroleo Brasileiro SA is delaying its exit from Argentina’s petrochemical business as it focuses on a graft case in Brazil, two people familiar with the process said, as per Hydrocarbonprocessing.

Petrobras, as the Rio de Janeiro-based producer is known, received a joint offer for its 34% stake in Cia. Mega SA from partners YPF and Dow Chemical, said the people, who asked not to be named because the talks are private.

Buenos Aires-based YPF owns 38% of Mega and Dow has 28%.

An expanding investigation into Brazilian contractors that allegedly bribed Petrobras officials is cutting off its access to debt markets, slowing signing of new contracts and has helped push down the stock by 63% since September.

Mega had 1.9 billion pesos (USD222 million) in sales last year.

Alejandro Di Lazzaro, a YPF spokesman, declined to comment when contacted by phone. Petrobras, which operates Mega, and Dow Chemical spokeswoman Rebecca Bentley didn’t immediately respond to e-mails and phone calls seeking comment.

The oil producer began marketing assets in Argentina -- including a refinery, petrochemical plants and oil and gas fields -- in March as part of a global divestment plan intended to focus on its Brazilian oil fields.

We remind that, as MRC wrote previously, Petrobras kept its five-year investment plan flat for the first time in years. The company's new investment plan is a relief to those investors who'd feared another increase. Petrobras has one of the largest investment budgets of any firm in the world at USD236.7 billion for the next five years, as it seeks to develop some of the biggest oil discoveries the world has found in decades. But its ambitions have weighed heavily on its share price in recent years, as production increases have failed to materialize and some projects have been mired by delays and cost overruns.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
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