AMERICAS

Dow to use K-Dow award for debt repayment

9:40 AM MDT | May 24, 2013 | Vincent Valk

Dow Chemical today announced plans to use up to $2 billion of its $2.2 billion payout from Petrochemical Industries of Kuwait (PIC) over the K-Dow joint venture termination to pay down high-interest debt. The moves will reduce Dow’s annual interest...

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MORE AMERICAS

Croda acquires Arizona Chemical's specialty products business

Croda has completed the acquisition of Arizona Chemical's (Jacksonville, FL) specialty products business, a producer of naturally derived polyamides. "The varied functionality of these specialized polyamides will be a valuable addition to our...

Report: Braskem still planning $3.5-billion petrochemical complex in Peru

Braskem (Sao Paolo) is still planning to build a previously reported $3.5-billion petrochemical complex in Peru, in alliance with the country's state-run energy company PetroPeru (Lima), according to a report from Reuters. Braskem and PetroPeru signed a...

BASF to expand production capacity for water-based polymers in US; to close Delaware site

BASF says it plans to expand manufacturing capacity for products marketed under the Joncryl trade name at plants located at Wyandotte, MI, and Monaca, PA, to support customer growth in the printing, packaging, and industrial coating markets. BASF’s...

Lautenberg, Vitter announce bipartisan bill for TSCA modernization (UPDATED)

Senators Frank R. Lautenberg (D-NJ) and David Vitter (R-LA) today announced the introduction of the Chemical Safety Improvement Act of 2013—a bipartisan effort to modernize the Toxic Substances Control Act (TSCA) that has the endorsement of both...

Air Liquide names Dow executive as head of US industrial gas business

Air Liquide has realigned its executive management team in the US, including the recent hire of former Dow Chemical executive Jeff Buckley to lead the company's US industrial gas business. Michael Graff remains chairman and CEO of American Air Liquide, and...

BASF-Total Port Arthur steam cracker to process ethane

Since early April, the BASF-Total steam cracker has been able to produce up to 40% of its ethylene from ethane and another 40% from butane and propane....

Global PS demand expected to be lower in 2013 because of high feedstock costs, product substitution

Polystyrene (PS) demand is expected to be lower worldwide this year compared with last year, according to the latest IHS Chemical Market Advisory Service: Global Plastics & Polymers report. PS is under pressure because high feedstock and conversion...

Teijin to shut US carbon fiber production unit

Toho Tenax, the carbon fiber unit of Teijin (Tokyo), has announced plans to suspend production of carbon fiber at its Rockwood, TN site by the end of the third quarter....

Pfizer to reduce holding in animal health unit Zoetis

Pfizer intends to reduce its holding in Zoetis, the animal health business it spun off via an initial public offering earlier this year, through an exchange offer, the company said on Wednesday. Pfizer shareholders can exchange all, some, or none of their...

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