Total preparing for sale or listing of rubber unit Hutchinson - sources

MOSCOW (MRC) -- Total, Europe's second-biggest oil company, is preparing for the sale or listing of its rubber and insulation unit Hutchinson, reported Reuters.

The deal could be worth up to EUR4 billion, reuters said.

Total has asked potential advisers to pitch for the business with a mandate to be awarded soon, four sources familiar with the matter said, speaking on condition of anonymity as the matter is private.

Total could either launch an initial public offering (IPO) of the unit or could attract strategic or private equity bidders, said the sources.

According to reuters: "Total is under pressure from shareholders to improve its cash flow and protect dividends as it counts the cost of the collapse in oil prices."

As MRC wrote before, Total is in plans to permanently shut its high density polyethylene (HDPE) line in Belgium. 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.

Founded in 1853 as shoe manufacturer, Hutchinson today has more than 32,000 employees at 96 sites in 23 countries. Its core businesses are sealing systems, vibration, acoustic and thermal insulation, fluid transfer systems, transmission and mobility. In 1974 the French oil giant Total bought a majority stake in the company.

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) -- Celanese Corporation, a global technology and specialty materials company and a global leader in vinyl acetate ethylene (EVA) emulsions, has declared a quarterly dividend of USD0.25 per share on its Series A common stock, payable on February 27, 2015, reported the company on its site.

The dividend is payable for the period beginning November 1, 2014 and ending on and including January 31, 2015 to stockholders of record as of February 17, 2015.

As MRC informed previously, last year, Celanese Corporation developed new emulsion products for architectural paints. The company also expanded its product portfolio for the coatings and adhesives industries, including Celansese's solvents, vinyl acetate monomer, EVA polymers and emulsions. Thus, the company's new emulsion products - EcoVAE 450, Avicor 385 and Avicor 390 - represent solutions to many of the industry's issues including low-VOC primers, stain resistance and broad formulation latitude.

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) -- President Dilma Rousseff is putting her faith in a state bank executive to guide Brazil’s national oil company Petrobras out of an unprecedented graft scandal. Shares plunged, reported Hydrocarbonprocessing.

Rousseff chose Banco do Brasil CEO Aldemir Bendine as Petrobras’ new CEO, a government spokesman said in televised remarks Friday as the board met in Sao Paulo. The government controls both Petrobras and Banco do Brasil with a majority of voting shares.

Bendine, 51, is set to take over from Maria das Gracas Foster, who announced her resignation Feb. 4 after failing to broker consensus on the cost of the escalating investigation. Petrobras fell the most among major Brazilian shares on concern the new CEO lacks the independence to lead a turnaround.

At Petrobras, Bendine will take on the task of continuing to increase production at a time the company is slashing investments until it regains access to debt markets. The biggest producer in waters deeper than 100 feet (300 meters) is halting projects and considering multi-billion-dollar writedowns after the arrest of its former head of refining uncovered Brazil’s biggest-ever corruption scheme, dubbed Carwash.

As MRC wrote before, in January 2015, Petrobrasawarded two ultra-deepwater contracts to the project management, engineering and construction company, Technip. The French company would deliver flexible pipes of about 100 kilometers that would support oil production, gas lift and gas injection. These pipelines will be supplied to the Sapinhoa Norte field and I5 at Lula field, in the Santos Basin, offshore Brazil which lay at water depths of around 2,500 meters.

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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MOSCOW (MRC) -- PolyOne Corporation, a provider of specialized polymer materials, services and solutions, announced that John Midea has been hired as senior vice president, global operations and process improvement, said the company in its press release.

With more than 20 years of operations and executive management experience, Mr. Midea will lead PolyOne's award-winning global operational excellence initiatives, including manufacturing process improvement, environmental health and safety, global sourcing and logistics, Lean Six Sigma training and deployment, and integration of acquisitions.

Prior to joining PolyOne, Mr. Midea was president and CEO at Resco Products, a private equity refractory products company. He also previously served as president and COO of Ennis Traffic Solutions, a private equity traffic and infrastructure company with operations in nine countries. He spent 12 years at Valspar Corporation with increasing roles of responsibility, including vice president, where he was accountable for the North American segment of its liquid, powder, electrocoat and after market specialty chemical businesses. Mr. Midea is a graduate of the United States Naval Academy in Annapolis, Maryland, earning a Bachelor of Science degree in marine engineering, and he spent six years in the U.S. Navy as a submarine officer. Mr. Midea also earned an MBA from Northwestern University in Evanston, Illinois.

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 2014 revenues of USD3.8 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles.
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MOSCOW (MRC) -- Olin Corporation announced today that its fourth quarter 2014 net income was USD12.8 million, or USD0.16 per diluted share, which compares to USD24.7 million, or USD0.31 per diluted share, in the fourth quarter of 2013, as per company's press release.

Sales in the fourth quarter of 2014 were USD499.8 million compared to USD562.1 million in the fourth quarter of 2013. Full year 2014 income from continuing operations was USD105.0 million, or USD1.32 per diluted share, which compares to USD178.6 million, or USD2.21 per diluted share, in 2013. Sales in 2014 were USD2.2 billion compared to USD2.5 billion in 2013.

Fourth quarter 2014 results included USD11.2 million of pretax restructuring charges, primarily related to the decision to permanently close approximately 50% of the chlor alkali capacity at the Becancour, Canada facility. Fourth quarter 2013 earnings included a USD6.5 million pretax gain associated with the sale of a joint venture interest, USD4.0 million of favorable tax adjustments and USD1.4 million of pretax restructuring charges.

"Winchester's fourth quarter 2014 commercial volumes and segment earnings reached the second highest fourth quarter levels ever. During the fourth quarter of 2014, the Chlor Alkali business experienced lower chlorine and caustic soda shipments and ECU netbacks, reflecting lower caustic soda prices, compared to the fourth quarter of 2013. Fourth quarter 2014 Chemical Distribution segment earnings were comparable to the fourth quarter of 2013.

"First quarter 2015 net income is forecast to be in the USD0.20 to USD0.25 per diluted share range. Chlor Alkali first quarter 2015 earnings are expected to be similar to the fourth quarter of 2014 reflecting higher ECU netbacks and higher volumes offset by higher operating costs. Earnings in the Winchester segment are expected to be slightly lower than first quarter 2013 levels. First quarter 2015 Chemical Distribution earnings are expected to improve from the fourth quarter of 2014. First quarter 2015 earnings are also expected to include pretax restructuring charges of approximately USD1 million."

As MRC wrote before, Olin Corp. will permanently close part of its Becancour, Quebec, chemical plant that had already been shut down since June. The Clayton-based maker of chemicals and ammunition, which also owns 9 chemical plants in the U.S., said the move would reduce the Canadian plant's chlor alkali capacity by 185,000 tons.

Olin Corporation manufactures chemicals and ammunition products. The Company manufactures and sells chlorine, caustic soda, sodium hydrosulfite, hydrochloric acid, hydrogen, sodium chlorate, bleach products, and potassium hydroxide. Olin also manufactures products that include sporting ammunition, reloading components, small caliber military ammunition and industrial cartridges.
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