Dow to establish new institute for advanced composites manufacturing innovation

MOSCOW (MRC) -- The Dow Chemical Company in partnership with its joint venture, DowAksa, and a consortium of composites-related businesses, academic leaders and government organizations, is pleased to have been selected by the Obama Administration to establish the Institute for Advanced Composites Manufacturing Innovation (IACMI), reported Dow on its site.

IACMI will help advance the state of knowledge and commercialization of carbon fiber composites technology in response to market demands for strong, lightweight materials by creating a platform to overcome technological and cost barriers to the wide-scale adoption of carbon fiber composites in a variety of industrial sectors including pressure vessel, infrastructure and wind, and automotive.

A key example is the collaboration between Ford and DowAksa to develop manufacturing innovations in automotive-grade carbon fiber. IACMI creates a strategic platform for ongoing collaboration between the two companies, which began in 2012 with a joint development agreement between Ford and Dow to develop lost-cost, high-volume carbon fiber composites.

DowAksa, a 50/50 joint venture formed in 2012 between Dow and Aksa Akrilik Kimya Sanayii A.S., one of the world’s largest acrylic fiber manufacturers based in Turkey, has become a leader in the production of carbon fiber and carbon fiber intermediates and high quality composite materials, which are extremely value for downstream high-tech manufacturing.

As MRC informed before, in November 2014, The Dow Chemical Company 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.

Established in 2012, DowAksa is an international 50:50 joint venture between The Dow Chemical Company and Aksa Akrilik Kimya Sanayii A.S. Combining the strengths of both partners, the joint venture will manufacture and commercialize carbon fibers and derivatives with a specific focus on the energy, infrastructure and transportation markets.

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) -- Badger Licensing, a 50-50 joint venture between ExxonMobil and Technip, has been selected by Lihuayi Weiyuan Chemical to provide its proprietary technology for a 120,000 tpy grassroots bisphenol-A (BPA) plant being built in Lijin, Shandong Province, People’s Republic of China, as per Hydrocarbonprocessing.

The award includes technology license, process design, and start-up services.

The new BPA plant is under construction and is scheduled for mechanical completion and start up in 2015. Lihuayi operates a cumene plant using Badger technology at the same site.

BPA is a precursor to the production of epoxy resins and polycarbonate (PC). Nearly 1.7 million metric tons of BPA capacity has been licensed by Badger and its predecessor companies since the technology was first offered for license in 2001.

Badger is a 50-50 joint venture between ExxonMobil and Technip.

We remind that, as MRC wrote previously, on 22 December 2014, Taiwan prosperity Chemical Corp (TPCC) shut down its BPA plant in Taiwan for maintenance turnaround. It is likely to remain off-stream for around one month. Located in Linyuan, Taiwan, the plant has a production capacity of 100,000 mt/year.

Besides, South Korean petrochemical company LG Chem restarted its BPA plant in South Korea after a maintenance turnaround in late November 2014. It was shut on October 26, 2014. Located in Yeosu, South Korea, the plant has a production capacity of 150,000 mt/year.

BPA is a type of engineering plastic for use in automobiles, mobile phones, and electronics appliances.
MRC

MOSCOW (MRC) -- Indorama Ventures has decided to pull out of an agreement to acquire SASA Polyester Sanayi AS (SASA) in Turkey, said Business Standard.

On April 10, 2014, Indorama Netherland BV had entered into a sale purchase agreement to acquire 51% stake in SASA from Haci Omer Sabanci Holding AS.

“With reference to our disclosure, dated April 10, 2014, the company would like to inform you that both sides have mutually agreed to withdraw from implementing the acquisition of SASA,” said Indorama Ventures in a letter addressed to the Stock Exchange of Thailand.

Indorama Ventures added that it has decided to focus on its PET footprint in Turkey.

SASA incorporates integrated feedstock and polymer facilities producing DMT, staple fibres, filament yarns, PET, PBT polymers and specialty chemicals with a total plant capacity of 600,000 tons per annum. SASA supplies both Turkish and European markets with high quality, high value added products.

As MRC wrote before, Indorama Netherlands B.V., a 100%-owned subsidiary of Indorama Ventures Public Company Limited (IVL), has signed a share purchase agreement to acquire 100% equity stake of Polyplex Turkey from Polyplex Europa Polyester Film San. ve Tic. A.S, Turkey, a 100% owned subsidiary of Polyplex (Thailand) Pcl., and Polyplex (Asia) Pte Limited, Singapore.

Indorama Ventures is a leading producer in the polyester value chain in Thailand with strong global network and manufacturing across Asia, Europe and North America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial. The company’s main products are PTA, PET and polyester fibre, which are distributed across the world.
MRC

MOSCOW (MRC) -- Nan Ya Plastics is in plans to shut its No.1 monoethylene glycol (MEG) plant for maintenance turnaround, according to Apic-online.

A Polymerupdate source in Taiwan informed that the plant is planned to be shut in June 2015. It is likely to remain off-stream for around one month.

Located at Mailiao in Taiwan, the plant has a production capacity of 360,000 mt/year.

As MRC wrote before, Nan Ya Plastics restarted its No 3 MEG plant in Taiwan on November 3, 2014. It was under a month-long maintenance turnaround. Located in Mailiao, Taiwan, the plant has a production capacity of 360,000 mt/year.

Earlier, on 7 September 2014, Nan Ya Plastics shut down its No.4 MEG plant in Taiwan for a one-month maintenance turnaround. Located at Mailiao, Taiwan, the plant has a production capacity of 720,000 mt/year.
MRC

MOSCOW (MRC) -- Hungarian oil and gas company MOL made a voluntary public tender offer on petrochemical works TVK yesterday, the company announced in a stock exchange filing yesterday.

It bid HUF 4,984 for each of the outstanding ordinary shares of TVK based in Tiszaujvaros in eastern Hungary.

TVK, suspended trading on Tuesday pending the announcement, and closed at HUF 5,086 on Monday on the Budapest Stock Exchange (BET). It ended last year at HUF 4,745. MOL already owns 94.86% of TVK's 23.04 million shares. The National Bank of Hungary in its capacity as financial supervisory authority has yet to approve the tender.

TVK, which is fully integrated into MOL's downstream operations, expects to launch a 130,000 tonne/year BD unit before the summer at its production site in Tiszaujvaros, northern Hungary.

Drawing on the plant’s output as feedstock, a 60,000 tonne/year S-SBR plant, being built at Tiszaujvaros by a joint venture between MOL and Japan-based JSR Corporation, is to be launched in 2017.

According to MRC, TVK is a significant player in market of polyolefins in Ukraine. Tiszai Vegyi Kombinat (TVK) is a Hungarian manufacturer of olefins and polyolefins such as polyethylene and polypropylene. Feedstock is supplied by MOL of which TVK is a subsidiary and which also processes a major portion of resulting by-products from the olefins plant.

MOL previously said Hungarian authorities had dismissed the allegations against MOL, which now holds a 49.1% share of INA. Hungary's government holds a 24.6% stake in MOL.
MRC