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MOSCOW (MRC) -- Eastman Chemical Company, a global specialty chemical company, has announced that it has completed the acquisition of BP’s global aviation turbine oil business, as per the company's press release.
The acquired business is expected to be accretive to 2014 earnings excluding acquisition-related costs and charges. The newly acquired business is part of Eastman’s Specialty Fluids & Intermediates business segment.
"This acquisition brings a profitable and growing specialty chemical business to our portfolio that aligns very well with our existing aviation product offerings," said Mike Humby, vice president and general manager of Eastman’s Specialty Fluids & Intermediates business segment. "Bringing our Skydrol team together with the experienced team from BP’s turbine oil business will provide our customers around the world with an unparalleled level of service for their aviation needs going forward."
As MRC reported before, 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).
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. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2013 revenues of approximately USD9.4 billion.
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Eastman completes acquisition of aviation turbine oil business of BP
Repairs shutter ethylene production at Stavrolen complex
A completed investigation of the Feb. 26 incident determined the fire, which broke out in the plant’s ethylene and propylene production unit No. 2, was caused by depressurization of the aluminum heat exchanger, Lukoil said.
The depressurization of the heat exchanger resulted from the fracture of a corrugated plate in the left heat-exchange section, the company said.
While repair and maintenance work at the site already is under way, Lukoil said it does not expect ethylene and propylene production capacities at the plant to resume until January 2015. Polypropylene production from imported propylene feedstocks will resume this month, the company added.
Lukoil previously said it planned to commission of the first stage of a 2 billion cu m/year gas processing plant and modernization of existing ethylene and polyethylene units at the Stavrolen complex in 2015.
Stavrolen is the second largest Russian HDPE producer after Kazanorgsintez and the third largest PP producer after Nizhnekamskneftekhim and Tomskneftekhim. Stavrolen"s HDPE and PP annual production capacities are 300,000 tonnes and 120,000 tonnes, respectively.
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PTA plant to be shut by Yisheng Petrochemical
MOSCOW (MRC) -- Yisheng Petrochemical is in plans to shut its No.2 purified terephthalic acid (PTA) plant, said Apic-online.
A source in China informed that the plant is planned to be shut in mid-June 2014. The shutdown has been attributed to negative PTA margins.
Located in Dalian, Liaoning province in China, the plant has a production capacity of 3.3 million mt/year.
The company has four other PTA units in Ningbo. No 1 and No 2 PTA units, each with a capacity of 650,000 tonnes/year.
Yisheng is the largest PTA producer in China, with a total PTA output capacity of 13.25m tonnes/year, including a new 2.25m tonne/year unit which launched in April this year in Ningbo.
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PolyOne expands healthcare portfolio with specialty medical solutions of Biometrics
MOSCOW (MRC) -- PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has announced that Biomerics has chosen PolyOne Distribution as the exclusive distributor for its Quadrathane, Quadraflex, and Quadraplast medical-grade thermoplastic polyurethanes in North America, as per the company's press release.
"Biomerics' Quadra biomaterials are an excellent complement to our healthcare portfolio. These highly biocompatible polymers will enhance our ability to help our customers accelerate speed-to-market, meet or exceed product performance requirements and navigate regulatory approvals more confidently," said Mark Crist, president, PolyOne Distribution.
Thermoplastic polyurethanes from Biomerics are used in a variety of medical device applications such as vascular access catheters, introducers, drainage catheters, interventional radiology devices, fluid management, coatings, balloons and wound care. They are available in a wide range of colors and offer a spectrum of performance characteristics.
As MRC informed earlier, in February 2014, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants, and are pre-certified to meet or exceed biocompatibility requirements for ISO 10993 and/or USP Class VI protocols.
PolyOne Corporation, with 2013 revenues of USD3.8 billion, is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
Biomerics, LLC is an innovative medical polymer solution provider to the medical device market. Biomerics specializes in biomedical materials, compounding, injection molding, extrusion, coating, and medical device fabrication. Biomerics manufactures its materials in ISO 13485 and FDA registered facilities in Salt Lake City, UT.
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BASF completes divestiture of PolyAd Services business to Edgewater Capital Partners
MOSCOW (MRC) -- BASF has successfully closed the previously announced transaction to divest its PolyAd Services business unit to Edgewater Capital Partners, L.P., a private equity firm based in Cleveland, Ohio, as per the company's press release.
PolyAd Services is a stand-alone global business that offers innovative specialty blends and services to solve additive incorporation problems for the plastics compounding and converting industry globally. The business serves a wide spectrum of plastic applications in industries, such as automotive, building and construction, packaging and electronics.
Edgewater Capital Partners intends to further grow PolyAd Services building on the expertise of the team.
BASF will move forward with increasing focus on its core Plastic Additives business areas: light stabilizers, antioxidants and customer specific blends (CSBs).
"The sale of PolyAd Services strengthens our ability to better serve the global market as the leader of plastic additives worldwide," said Diego Lopez Casanello, Senior Vice President, Performance Chemicals North America.
As MRC wrote before, in late February 2014, BASF signed a contract to divest its liquid masterbatch business in Clermont de l’Oise, France, to Audia International, a large global supplier of polyolefins and color masterbatches. The transaction is expected to close in mid 2014.
BASF is a leading manufacturer, supplier and innovation partner of additives for the plastics industry such as ultraviolet (UV) light stabilizers, antioxidants and process stabilizers, and other additives. BASF had sales of about EUR74 billion in 2013 and over 112,000 employees as of the end of the year.
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