Jiangsu Sailboat to start new EVA/LDPE plant in China

MOSCOW (MRC) -- Jiangsu Sailboat Petrochemical is in plans to start a new ethylene vinyl acetate (EVA)/low density polyethylene (LDPE) swing plant, according to Apic-online.

A Polymerupdate source in China informed that the plant is planned to be started in April 2016.

Located at Lianyugang in Jiangsu province of China, the plant has a production capacity of 300,000 mt/year.

We remind that, as MRC wrote before, on December 29, 2014, Saudi International Petrochemical Company (Sipchem) started a new ethyl vinyl acetate (EVA) film plant in Saudi Arabia. Located at Hail in Saudi Arabia, the plant has a production capacity of 4,000 mt/year.

Besides, South Korean petrochemical company LG Chemical is likely to shut its ethylene vinyl acetate (EVA) plant in South Korea for maintenance turnaround in end March 2015. It is likely to remain off-stream for around three weeks.Located at Daesan in South Korea, the plant has a production capacity of 140,000 mt/year.
MRC

MOSCOW (MRC) -- Arkema reported that its fourth-quarter net income Group share increased to 23 million euros from 21 million euros in the prior year, said the company in its press release.

Earnings per share grew to 0.33 euros from 0.32 euros in the previous year.

But, adjusted net income for the quarter dropped to 20 million euros from 46 million euros in the prior year. Adjusted net income per share was 0.29 euros, down from 0.70 euros in the previous year.

The Board of Directors confirms that the dividend proposed to the annual general meeting on 2 June 2015 be maintained at 1.85 euros per share, the same level as in 2013.

Pending approval by the shareholders' annual general meeting, the ex-coupon date will be set at 12 June 2015, with payment of the dividend in cash or in new shares taking place from 8 July 2015.

Sales amounted to 1.431 billion euros, 1.7% down at constant scope of business and foreign exchange rate and excluding the impact of the shutdown of the Chauny activity in France. Sales for the quarter grew to 1.431 billion euros from 1.411 billion euros in the prior year.

Arkema confirmed its mid- and long-term targets.

As MRC wrote before, Arkema announced the construction of a new organic peroxide plant on its Changshu site in China. This investment will help double the site’s production capacity.

Arkema with annual revenue of EUR6.4 billion is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. Arkema operates 11 organic peroxide plants on the three continents.

MRC

MOSCOW (MRC) -- Huntsman Corporation announced its plan to restructure its Color Pigments business, another step in its previously announced plan to significantly restructure its global Pigments and Additives business, said the company in its press release.

The restructuring of Color Pigments includes an expected headcount reduction of 120 positions and will deliver USD20 million by mid-2016 toward the total synergies expected of the global Pigments and Additives restructuring plan announced in December 2014.

The initial phase of restructuring will include site closures, cost reduction initiatives and a move to centralized shared services, in addition to investment in customer focused R&D to secure future growth. Manufacturing sites to be closed by year-end 2015, all of which are leased, include Cartersville, Georgia; East St. Louis, Illinois; and King of Prussia, Pennsylvania in the U.S., in addition to Hainhausen, Germany. Products produced by these facilities will be supplied by other Huntsman facilities including our soon to be completed facility in Augusta, Georgia.

Jan Buberl, Vice President of Sales and Marketing of Huntsman’s Color Pigments and Timber Treatment business, added: "This initial step in restructuring our Color Pigments business will enable us to be more competitive, respond more quickly to market conditions and better serve our global customer base. We anticipate we can further optimize this business by identifying additional synergies over time."

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2014 revenues of approximately USD13 billion including the acquisition of Rockwood’s performance additives and titanium dioxide businesses. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 100 manufacturing and R&D facilities in more than 30 countries and employ approximately 16,000 associates within our 5 distinct business divisions.
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MOSCOW (MRC) -- On February 25, 2015, Total acquired a majority 68% interest in Germany's Polyblend, which manufactures polymer plastics intended primarily for the automotive industry, said the company in its press release.

The transaction is aligned with the Group's strategy of developing higher-value-added polymers and differentiating itself in markets away from commodity plastics.

Total recently began building two polypropylene compounding lines at the Carling Platform as part of its project to secure the French site's future. The lines are scheduled to start up in mid-2016.

"The acquisition allows Total to consolidate its position in the fast-growing market for polymers for automotive solutions," explains Philippe Sauquet, President of Total’s Refining & Chemicals.

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) -- Ineos’ Styrolution business, the global leader in styrenics and Ineos ABS, the largest fully integrated producer of acrylonitrile butadiene styrene (ABS) in North America are to bring together their business activities in the Americas, said the company in its press release.

Both are wholly owned Ineos companies.

Customers in the Americas will benefit from the combined strength of the standard and specialty ABS portfolios, as well as other styrenic specialties. In addition, customers will further profit from the polymer expertise Styrolution and Ineos ABS offer in key customer industries, such as automotive and healthcare.

This move will not only enrich Styrolution’s standard and specialty ABS offering to customers but it also establishes Styrolution as the clear market leader in ABS in the Americas. The company aims to implement the integration measures by the end of 2015.

The planned integration also helps to drive two key components of Styrolution’s Triple Shift strategy, namely bolstering the company’s market position in styrenic specialties and standard ABS, as well expanding the company’s position in higher growth customer industries. Triple Shift further calls for a third component, namely the expansion of Styrolution’s global footprint in emerging markets.

Alexander Gluck, President Americas, Styrolution: "We are looking forward to a unified market approach with our colleagues at Ineos ABS. The combination of our businesses will better serve customers, who will benefit from the rich product and service offerings of both companies, as well as our collective polymer expertise across key industries. I am also confident this move will open up a host of new growth opportunities for both customers and Styrolution, giving us a chance to show what 'Driving Success. Together.' really means."

Andy Currie, Director, Ineos Capital and Chairman, Styrolution: "Now that Styrolution is a full-fledged member of INEOS, the integration of our two businesses makes perfect sense and presents tremendous opportunities for growth. Together as Styrolution, Ineos offer a one-stop styrenics shop to customers. It is something that no other company can offer on this scale and that is powerful for us and our customers."

As MRC wrote previously, in mid-November 2014, following clearance by the competition authorities, Ineos successfully completed the purchase of BASF’s 50% share in Styrolution, a joint venture between the companies. The purchase price for the acquisition is EUR1.1 billion. Styrolution continued to operate as a stand-alone Business within Ineos Industries Holdings Limited.

Ineos is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 15 businesses each with a major chemical company heritage. Its production network spans 65 manufacturing facilities in 16 countries throughout the world, employing 17000 people.

Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 80 years of experience, Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, toys/sports/leisure, and packaging. In 2014, sales were at EUR5.4 billion. Styrolution employs approximately 3,100 people and operates 15 production sites in nine countries.

Ineos ABS (USA) is the largest producer of SAN (styrene-acrylonitrile polymers), the second largest producer of ABS (acrylonitrile-butadiene-styrene polymers), and the leading regional producer of SMA (styrene-maleic anhydride polymers) in North America. It provides a comprehensive portfolio of high quality ABS, SAN and SMA polymers.
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