Honeywell shareholders to get spinoff shares in AdvanSix on Oct. 1

MOSCOW (MRC) -- Honeywell International Inc.'s shareholders will receive a stake in AdvanSix next month, as part of Honeywell's spinoff of the USD1.3 billion resins and chemicals business, said Reuters.

The New Jersey-based industrial conglomerate, best known as a maker of thermostats, has been expanding its industrial software business.

Under the terms of the dividend tied to the AvanSix spinoff, Honeywell shareholders of record as of 5 p.m. ET on Sept. 16 will receive 25 AdvanSix shares on Oct. 1.

AdvanSix stock is expected to begin trading in the "when issued" market on Sept. 14. Regular trading of ASIX on the New York Stock Exchange is expected to begin Oct. 3.

Honeywell's stock closed Wednesday at USD114.24, up 10% this year.

As MRC informed earlier, Honeywell International Inc. said that it would spin off its USD1.3 billion resins and chemicals business into a stand-alone, publicly traded company.

Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advanced materials, process technologies and automation solutions. PMT"s Advanced Materials businesses manufacture a wide variety of high-performance products, including environmentally friendlier refrigerants and materials used to manufacture end products such as bullet-resistant armor, nylon, computer chips and pharmaceutical packaging. Process technologies developed by PMT"s UOP business form the foundation for most of the world"s refiners, efficiently producing gasoline, diesel, jet fuel.
MRC

AkzoNobel names Thierry Vanlancker as future head of Specialty Chemicals


MOSCOW (MRC) -- AkzoNobel has named Thierry F.J. Vanlancker as the future Executive Committee member responsible for Specialty Chemicals, effective February 1, 2017, said the company on its site.

He will succeed Werner Fuhrmann , who has decided to retire from the company next year, after 37 years of service. Vanlancker, a Belgian national, was most recently President - Fluoroproducts for Chemours, the spin-off company of DuPont's chemical businesses formed in 2015. He joined DuPont in 1988 and has held a number of senior positions both in Europe and the US.

Commenting on the announcement, AkzoNobel CEO Ton Buchner said: "We are delighted to have such an experienced chemical industry professional as Thierry join AkzoNobel. We look forward to him building on the fantastic momentum Werner has achieved, taking the Specialty Chemicals business to new levels."

Vanlancker added: "I am delighted to be taking up this role at AkzoNobel, a company I greatly admire. I am looking forward to helping the company and the Specialty Chemicals business achieve its vision of delivering leading performance and profitable growth."

As MRC informed earlier, AkzoNobel said on 9 June that it is adding marine and protective coatings capacity at its existing performance coatings site at Lipetsk, south of Moscow.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.

MRC

Evonik for the first time included in the Dow Jones Sustainability Indices World and Europe

MOSCOW (MRC) -- Evonik has been included in the prestigious "Dow Jones Sustainability Index (DJSI) World" and also "DJSI Europe" for the first time. The specialty chemicals company gained particularly high ratings in all environmental criteria, as per the company's press release.

Thomas Wessel, the Executive Board member responsible for sustainability: "Being included in the DJSI indices World and Europe is an important milestone for us. We are delighted by this acknowledgement of Evonik's commitment to sustainability. It affirms that contributions to sustainability and economic success are working hand in hand. Sustainability is increasingly driving innovation and profitable growth."

Alongside financial criteria, investors increasingly include ecological and social factors in their investment decisions. They are guided by leading sustainability indices such as the DJSI. Every year around 2,500 companies worldwide are invited to participate. In each sector the best of the participating companies are included in the DJSI. The assessment is performed by the Swiss rating agency RobecoSAM.

In January 2016, RobecoSAM included Evonik in its yearbook of economic, social and ecological performance as a "Sustainability Leader" with the distinction "Silver Class".

As MRC informed before, Evonik Industries invested over EUR400 mln in its plants in Germany in 2015. Last year, Evonik once again demonstrated its considerable power to create at its German sites. Thus, according to a recent projection, the company invested more than EUR 400 million in its domestic production plants. The lion’s share of the funds (around two-thirds) was divided among Evonik’s five-largest sites in Germany: Marl (hundreds of millions of euros), Hanau, Essen, Darmstadt, and Wesseling (tens of millions of euros at each site).

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
MRC

BASF to expand Ultrason polyarylsulfone capacity in South Korea

MOSCOW (MRC) -- BASF, the world’s largest chemical producer, says that it will establish an additional production line for Ultrason polyarylsulfone products at the company's site at Yeosu, South Korea, reported Chemweek.

Ultrason is the trade name for BASF’s range of polyethersulfone, polysulfone, and polyphenylsulfone. The new production line will start up at the end of 2017, adding a production capacity of 6,000 metric tons/year and bringing BASF’s total capacity of Ultrason to 24,000 metric tons/year. BASF produces Ultrason at Ludwigshafen, Germany; and Yeosu. BASF opened the existing Ultrason plant at Yeosu in 2014. The additional capacity at Yeosu is for the entire product range. The expansion is in response to worldwide market growth, BASF says.

Ultrason products are used in applications in the consumer, electronics, automotive, and aerospace industries. Common applications include heat-resistant, lightweight components in household appliances or fittings for drinking-water pipes, BASF says. The market growth of polyarylsulfones is strongest for filtration membranes in technical and health-care applications, especially in Asia’s emerging markets, BASF says.

“This investment strengthens our competitive position and increases our flexibility to provide all grades of Ultrason to our customers in Asia and worldwide,” says Kin Wah Chay, v.p./global business management, specialty plastics at BASF.

As MRC wrote before, in March 2016, Kolon Plastics and BASF signed an agreement to establish a joint venture in Korea to manufacture polyoxymethylene (POM), an engineering plastic used in industrial, transportation, construction and consumer markets. The 50:50 joint venture named "Kolon BASF innoPOM, Inc." will have an annual capacity of 70,000 metric tons. It will be located at the existing manufacturing site of Kolon Plastics in Gimcheon, Korea, which already includes a POM production. The start of operation is scheduled for the second half of 2018 creating in total the world’s largest complex for the production of POM.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF generated sales of more than EUR70 billion in 2015.
MRC

Amcor to acquire U.S. plastics business for $280 million

MOSCOW (MRC) -- Australian packaging company Amcor Ltd said it will buy a plastic container manufacturing business from U.S.-based Sonoco Products Co (SON.N) for USD280 million, said Reuters.

The acquired business, Sonoco Specialty Containers, makes moulded packaging for food, drink and pharmaceuticals, Amcor said in a statement. It will expand Amcor's rigid plastics division and allow the company to access U.S customers, Amcor said.

"Part of our strategy to grow this business includes acquiring specialized manufacturing capabilities which unlock further growth," Amcor Chief Executive Ron Delia said in the statement.

The acquisition remains subject to approval from U.S. regulators.

As MRC informed earlier, Amcor Ltd. has entered into an agreement to buy an Indonesian flexible packaging business, Jakarta-based Bella Prima Packaging Ltd., for USD25.2 million.

Amcor Limited is an Australian-based multinational packaging company. It operates manufacturing plants in 42 countries. It is the world's largest manufacturer of plastic bottles.
MRC