Eastman increases prices of a whole range of its products in August 2014

MOSCOW (MRC) -- Eastman Chemical Company is increasing prices of a range of its products on 1 August, or as contracts allow, reported the company on its site.

Thus, prices will be increased for the following products, as mentioned below:

- EASTMAN ISOPROPYL ACETATE: offlist price increase of USD 0.04/lb (USD 0.09/kg) globa;
- EASTMAN N-PROPYL ACETATE: offlist price increase of USD 0.04/lb (USD 0.09/kg) globally;
- EASTMAN N-PROPYL ALCOHOL: offlist price increase of USD 0.04/lb (USD 0.09/kg) globally;
- EASTMAN ISOBUTYL ACETATE: offlist price increase of USD 0.04/lb (USD 0.09/kg) globally;
- EASTMAN DB SOLVENT, ALL GRADES: list price increase of USD 0.05/lb (USD 0.11/kg) globally, offlist price increase of USD 0.05/lb (USD 0.11/kg) globally;
- EASTMAN DB ACETATE: list price increase of USD 0.05/lb (USD 0.11/kg) globally, offlist price increase of USD 0.05/lb (USD 0.11/kg) globally;
- EASTMAN EB SOLVENT, ALL GRADES: offlist price increase of USD 0.05/lb (USD 0.11/kg) globally;
- EASTMAN EB ACETATE: list price increase of USD 0.05/lb (USD 0.11/kg) globally, offlist price increase of USD 0.05/lb (USD 0.11/kg) globally.

As MRC wrote previously, earlier this year, Eastman Chemical Company, a global specialty 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.
MRC

MOSCOW (MRC) -- Japan's NS Styrene Monomer aims to restart its two SM plants at Oita next week after shutting them Tuesday following a disruption in feedstock supply, reported Apic-online with reference to a source close to the company.

Feedstock supply to the two SM plants from parent company Showa Denko was disrupted, after the company shut its naphtha-fed steam cracker at Oita Tuesday due to a compressor problem.

The steam cracker was restarted earlier on Wednesday and runs are expected to reach full production later the same day, a Showa Denko spokesman said.

The cracker can produce 695,000 mt/year of ethylene and 425,000 mt/year of propylene.

Ethylene from the cracker is supplied to NS Styrene Monomer's two plants, which can produce 190,000 mt/year and 230,000 mt/year of SM.

NS Styrene Monomer is owned by Nippon Steel Chemical (51%) and Showa Denko (49%).

We remind that, as MRC wrote before, last year, Mitsubishi Corporation (MC), a major petrochemical producer, and Showa Denko K.K. (SDK) entered into a strategic partnership in the Fullerene business. As part of the arrangement, SDK acquired from Mitsubishi Corp a 50% stake in Frontier Carbon Corporation (FCC), a producer and marketer of Fullerene products, thereby making FCC a 50-50 joint venture between MC and SDK.
MRC

MOSCOW (MRC) -- Huntsman and Shanghai Chlor-Alkali Chemical Co. Ltd. (SCAC) have announced plans to double the MDI (diphenylmethane diisocyanate) splitting capacity of their joint venture company, Huntsman Polyurethanes Shanghai Ltd. Co.(HPS), at the Shanghai Chemical Industrial Park (SCIP) in Caojing, as per Huntsman's press release.

With the new plant, MDI splitting capacity at the site will increase from 240,000 to 480,000 metric tons per year. Commercial operation is planned to start in 2017.

The facility will take MDI precursors and split them to create more differentiated, custom made products for downstream markets.

The announcement follows confirmation that Shanghai Lianheng Isocyanate Co. Ltd, (SLIC) - in which Huntsman and SCAC are shareholders - will build a new plant to produce 240,000 metric tons of crude MDI at SCIP, adjacent to its existing 240,000 metric tons plant. The crude MDI plant and MDI splitter are part of an integrated isocyanates complex that includes manufacturing facilities for the precursors aniline and nitrobenzene.

MDI-based polyurethanes are used in an extensive range of applications and market sectors – including construction, automotive, footwear and appliances – and provide key benefits of energy efficiency, comfort and well-being.

Huntsman owns 70% of HPSs’ shares; SCAC owns 30%.

Huntsman is a global manufacturer and marketer of differentiated chemicals. Our operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.
MRC

MOSCOW (MRC) -- Eni sells its stake in EnBW Eni Verwaltungsgesellschaft (EEV), equal joint venture which controls the companies Gasversorgung Suddeutschland (GVS) and terranets bw, to its current partner EnBW (Energie Baden-Wurttemberg), said the company in its press release.

The sale is subject to approval by the relevant antitrust authorities.

Eni’s decision to sell its share in the company is part of its strategy of rationalizing its mid-downstream portfolio, exiting regulated gas transport assets. Eni remains actively involved in the commercialisation of natural gas in Germany through its commercial branch in Dusseldorf.

As MRC wrote before, Unipetrol AS (Unipetrol) informed that on 3 July 2014 it exercised its pre-emptive right and accepted the offer from Eni International BV (Eni), based on which Unipetrol will acquire from Eni 303,301 shares of Ceska Rafinerska, AS (Ceska Rafinerska) amounting to 32.445% of the Ceska Rafinerska’s share capital (Transaction). The acquisition price for the shares in the amount of USD40.9 million (EUR30 million), subject to additional adjustments before Transaction completion, will be financed from own financial sources of Unipetrol.

Eni is an Italian multinational oil and gas company headquartered in Rome. It has operations in in 79 countries, and is currently Italy's largest industrial company with a market capitalization of 68 billion euros (USD 90 billion), as of August 14, 2013. The Italian government owns a 30.3% golden share in the company, 3.93% held through the state Treasury and 26.37% held through the Cassa depositi e prestiti. Another 39.40% of the shares are held by BNP Paribas.
MRC

MOSCOW (MRC) -- The German speciality chemicals group Evonik Industries and Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd., a wholly owned subsidiary of GCL-Poly Energy Holdings Limited (GCL-Poly), have signed a letter of intent to establish a joint venture for the production of fumed silica and ultra-pure silicon tetrachloride in China, as per Evonik's press release.

Evonik will hold a 60% share in the joint venture.

The plants, which will have an annual capacity of over 20,000 metric tons, will be built in Xuzhou (Jiangsu Province, China) and are scheduled to start-up operation in 2016. The entire project has yet to be approved by the executive bodies.

As a listed company on the Hong Kong Stock Exchange, GCL-Poly specializes in the generation of green and conventional energy. Jiangsu Zhongneng, a wholly owned subsidiary of GCL-Poly, is a global leading manufacturer of polycrystalline silicon (PCS). Silicon tetrachloride is a byproduct of PCS production, and the joint venture will purchase this to produce AEROSIL fumed silica and Siridion STC HP ultra-pure silicon tetrachloride.

"By making the planned investment we are aiming to further strengthen our market position for fumed silica and ultra-pure silicon tetrachloride and to promote growth, particularly in the attractive Chinese market," said Klaus Engel, CEO of Evonik Industries. "In GCL we have found a strong partner for this."

The main drivers of the positive market development for AEROSIL fumed silica in China are the silicone industry for adhesives and sealants in buildings and vehicles as well as gel batteries, used in e-bikes, for example. Ultra-pure silicon tetrachloride, marketed under the Siridion STC HP brand name, is used in the fiber optics needed to expand China’s communications and IT infrastructure. The growth rate for ultra-pure silicon tetrachloride in China is well above the growth rate for the global market. Half of the demand for fiber optics worldwide now comes from China.

Evonik is one of the leading manufacturers of silica and ultra-pure silicon tetrachloride. Apart from AEROSIL fumed silica, the specialty chemicals company produces precipitated silica for tires with low rolling resistance, for instance. Overall, Evonik has a global capacity of over 500,000 metric tons per annum for precipitated and fumed silica as well as matting agents. In addition to ultra-pure silicon tetrachloride, Evonik markets a portfolio of ultra-pure chlorosilanes for the electronics industry under the Siridion brand.

As MRC reported earlier, in March 2014, Evonik opened its expanded production for precipitated silica in Rayong, Thailand. With this investment, Evonik increased its capacity for precipitated silica for the automotive industry, food and animal feed industry as well as the paints and coatings industry.

Evonik, the industrial group from Germany, is one of the world leaders in specialty chemicals. 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