IHS Chemical Week

Regions

North America (12502)

South America (933)

Western Europe (7607)

Eastern Europe (1467)

Middle East (1575)

Africa (378)

Southeast Asia (1329)

North Asia (2200)

China (2367)

India/Pakistan (1383)

Australia/New Zealand (333)


NORTH AMERICA

Cytec beats estimates, but earnings hit by accounting adjustment
Cytec today reported a fourth-quarter net loss of $29.3 million, or 41 cts/share, compared with a profit of $59.4 million in the year-ago quarter. Sales from continuing operations rose 1% year-on-year (YOY), to $485 million. Earnings were hit by several...

DuPont reports stronger fourth quarter, warns currency will be drag on 2015 earnings
DuPont, facing a proxy battle from activist investor Trian Partners (New York), today increased the cost savings target from its ongoing restructuring by 30%, to $1.3 billion, and said it would use proceeds from the planned spin off of its Chemours performance chemicals business to fund a $4-billion share repurchase. DuPont expects to complete the spin off of Chemours by mid-2015....

Cabot awarded two contracts for mercury removal
Cabot says that it has been awarded contracts by two US power utilities to supply its Darco Hg family of activated carbon products to remove mercury from the flue gas of coal-fired power plants in the Midwest. Cabot expects to provide the utilities with about...

Winter Storm Juno may impact northeast US aromatics
Winter Storm Juno in the northeastern United States could reduce aromatics operations for several producers in the region. The National Weather Service (Silver Spring, MD) issued blizzard warnings well in advance of the storm for parts of the northeast...

Explosion limits service on Enterprise's Atex ethane pipeline
Enterprise Products Partners has shut down part of the Appallachia-to-Texas (Atex) ethane pipeline after it was damaged on the morning of 26 January by a rupture and explosion in Brooke County, WV. No one was injured by the blast....

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SOUTH AMERICA

Brazil fertilizer producer ponders mothballing operations, partnering or divesting assets
Phosphate fertilizer producer MBAC Fertilizer (Toronto) has put its Itafós Arraias, Brazil, operations into minimum production mode to conserve working capital because now is the low season for fertilizer sales in Brazil. The company says that, to...

Clariant acquires stake in Brazilian health- and personal-care firm Beraca
Clariant said today that it is acquiring a 30% stake in the health- and personal-care business of Beraca (São Paulo), a leading provider of natural and organic ingredients, with the possibility of raising this to a majority stake in the future. The...

Petrobras says refinery blast will not impact supply
Petrobras reiterated yesterday that supply to the market would not be affected by a recent explosion at the company’s Landulfo Alves refinery in Bahia State, Brazil. The refinery had an explosion in a duct in the hydrogen generation plant on 18 January...

Praxair to shift exchange rate for Venezuela operations
Praxair says it is changing its exchange rate to line up with the Sicad II rate of 50 bolivars to the dollar rather than government's official exchange rate of 6.3 bolivars to the dollar. Sicad II is a currency trading system set up by the Venezuelan...

Brazil's chemical trade deficit down 2.4% in 2014
Brazil's chemical trade deficit totaled about $31.2 billion in 2014—approximately $400 million below estimates disclosed by the country's chemical industry association (Abiquim; São Paulo) during its annual meeting last December, says Abiquim...

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WESTERN EUROPE

Reports: Cepsa mulls selling some PTA/PET assets
Cepsa Química,(Madrid) is mulling the sale of two of its chemical plants: one located in Cádiz, Spain; and the other in Montreal, Canada, according to local press reports. The assets in question produce purified terephthalic acid (PTA) and...

European Council moves further against climate change
The European Council, the institution of the heads of state or government of the member states of the European Union, has announced additional measures in the struggle against climate change. The measure relate to the implementation of the Doha amendment to...

Sika acquires mortar and tile adhesive manufacturer in Mozambique
Sika (Baar, Switzerland) says that it has agreed to acquire the assets of Duro-Moza (Maputo), a company active in production and sales of specialized mortars and tile adhesives. Financial details of the deal have not been disclosed. Duro-Moza generated sales...

Matrica signs agroindustrial supply chain agreement
Matrica (Novara, Italy), a 50-50 joint venture between Novamont (Novara) and Versalis (Milan), has signed an agreement with  Coldiretti (Roma) and Consorzi Agrari d’Italia, for the creation of innovative agroindustrial chains to create short-chain...

Moody's: Removal of cap on Swiss franc will hurt Switzerland-based chemical firms' earnings
The Swiss National Bank’s (Bern) recent decision to remove the peg between the Swiss franc and the euro—resulting in a rapid strengthening in the Swiss currency’s value—will put downward pressure on Switzerland-based companies'...

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EASTERN EUROPE

Unipetrol's petrochemical earnings soar in fourth quarter
Unipetrol (Prague), a subsidiary of PKN Orlen (PÅ‚ock, Poland), recorded operational Ebitda on a last-in-first-out basis of 2.21 billion koruny ($91.4 million) for its downstream segment's petrochemical unit in the fourth quarter of 2014, up from...

Sibur reviewing plans for large petchems project ZapSibNeftekhim
Sibur has confirmed to CW reports published by Russian press agency Interfax that it is reviewing the costs of its large petrochemicals project ZapSibNeftekhim. The review will take into account changes in the global economy, Kirill Shamalov, one of...

Russia cuts export duties on aromatics
Russia is cutting its export duty on benzene, toluene, and xylenes (BTX), as well as for crude oil and other derivatives, effective February, the Ministry of Economy (Moscow) announced. Export duties on BTX, middle distillates, and lubricating oil will be...

Spanish firm starts construction of BOPP plant in Poland
Poligal (Barcelona) has started constructing biaxially oriented polypropylene (BOPP) plant at Skarbimierz, Poland. The new plant will require an investment of €32.0 million ($37.1 million) and have a capacity of 40,000 m.t./year. It will have a...

MOL makes tender offer for outstanding TVK shares
Hungary’s energy major MOL (Budapest) on Tuesday made a public tender offer to acquire shares it does not already own in Hungary’s chemicals producer TVK (Tiszaújváros). The offer is priced at 4,984 forints/share ($18.40) for...

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MIDDLE EAST

Report: Orpic starts 29-day turnaround at Sohar refinery
Oman Oil Refineries and Petroleum Industries Co. (Orpic; Muscat) began a planned 29-day maintenance turnaround at the company's Sohar, Oman, refinery late yesterday, according to a report from Reuters quoting the company's CEO. The turnaround is not expected...

Tasnee signs financing agreement to fund acquisition of additional shares in Cristal
National Industrialization Co. (Tasnee) said today that it signed an Islamic Murabaha financing agreement for 1.2 billion Saudi riyals ($319.4 million) with each the Riyadh Bank and the Saudi British Bank. The agreement has a competitive floating-rate...

AMEC Foster Wheeler awarded oil storage terminal contract in Oman
AMEC Foster Wheeler (AFW) has been awarded a contract by the Oman Tank Terminal Co. for the front-end engineering design of the Ras Markaz crude oil park project in Oman. Located 70 kilometers south of the Port of Duqm on the Wusta coast, the Ras Markaz...

Satorp reports large quarterly and annual losses
Saudi Aramco Total Refining & Petrochemical (Satorp), a joint venture in which Aramco holds 62.5% and Total the balance, has announced an increase in quarterly and annual net losses. Net loss in the fourth quarter was 71.37 million Saudi riyals ($19.0...

Ma'aden shuts ammonia plant for 30-day maintenance
Saudi Arabian Mining Company (Ma’aden) has announced that its subsidiary Ma’aden Phosphate Co., (MPC) will shut down its ammonia plant located at Ras Al Khair City, Saudi Arabia for a scheduled maintenance. MPC, owned 70% by Ma’aden and 30%...

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AFRICA

Sasol sells candles business to Lion Match
Sasol said on Monday that it reached an agreement to divest its Price’s Candles business to Lion Match. Sasol has owned the Price’s Candles, one of South Africa’s best-known brands, since 2002. Price’s Candles makes candles at its...

Sika acquires mortar and tile adhesive manufacturer in Mozambique
Sika (Baar, Switzerland) says that it has agreed to acquire the assets of Duro-Moza (Maputo), a company active in production and sales of specialized mortars and tile adhesives. Financial details of the deal have not been disclosed. Duro-Moza generated sales...

ICL launches program to promote fertilizer use in Ethiopia
Israel Chemicals Ltd. (ICL; Tel Aviv) launched its Potash for Growth program in Ethiopia today. The program is designed to promote balanced fertilization among Ethiopia's small and private farmers to increase their agricultural productivity and economic...

Praj Industries to build ethanol plant for sugar company in Uganda
Praj Industries (Pune, India) says it has been awarded an engineering, procurement, and construction (EPC) contract by Kakira Sugars (Kakira, Uganda) to supply an ethanol production plant at Kakira. The plant will produce 60,000 liters/day of fuel ethanol, as...

H.B. Fuller acquires adhesives firm in Africa
H.B. Fuller has agreed to acquire Continental Products Limited (Nairobi), an industrial adhesives maker active in eastern and central Africa, for an undisclosed sum. Continental Products makes adhesives for the paper, packaging, labeling, automotive and...

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SOUTHEAST ASIA

PTT Global Chemical appoints new member to risk management committee
PTT Global Chemical (PTTGC; Bangkok) says that the company's board of directors, in a meeting held on 26 January, passed a resolution to appoint Veerasak Kositpaisal, a former CEO of PTTGC, as a director and a member of the risk management committee...

JGC awarded LNG contract in Malaysia
JGC (Yokohama) announced today that, as a part of a consortium with JGC Malaysia, it has been awarded an engineering, procurement, construction, and commissioning (EPCC) contract by a wholly owned subsidiary of Petronas. The deal forms part of the expansion...

Chevron to sell 4.2 million m.t. of LNG to Korean trader over five years
Chevron says that it will sell 4.2 million m.t. of liquefied natural gas (LNG) to SK LNG Trading (Seoul) over five years starting in 2017. Chevron says its Australian subsidiaries signed a binding sales and purchase agreement with SK LNG Trading and that...

Lotte Chemical Titan seeks ethylene for second-half February
Lotte Chemical Titan (Kuala Lumpur) has issued a buy tender for 3,000–5,000 m.t. of ethylene for second-half February delivery, a source close to the company said today. The tender is valid until 22 January and comes soon after the company awarded a...

UAC Global plans to acquire Advance Polymers' assets
UAC Global (Bangkok) plans to establish a subsidiary to take over the assets of Advance Polymers & Chemicals (APC; Bangkok) for about 730.0 million baht ($22.4 million), the company announced today. APC is involved in the production and distribution of...

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NORTH ASIA

Toray to expand polyester staple fiber production in South Korea
Toray Industries says that it will expand the production capacity for low-melt polyester staple fiber at the Gumi, South Korea, production site of Toray Chemical Korea. The additional low-melt polyester staple fiber production facility is expected...

Lotte restarts butadiene unit
Lotte Chemical (Seoul) restarted its butadiene extraction unit at Daesan, South Korea, today, after completing repairs, a source close to the company says. The 150,000-m.t./year butadiene unit was shut on 20 January to fix an unspecified technical issue...

JSR upgrades fiscal year forecast
JSR (Tokyo) today upgraded most of its forecast for the fiscal year ending 31 March 2015. The company expects net income of ¥30.0 billion ($253.3 million) compared with a previous forecast of ¥28.0 billion. Operating income is expected to be ¥40.0...

LG Chem reports falls in profits, sales
LG Chem reports net profits declined 38% in the fourth quarter of 2014 compared with the year-ago period, to 109.4 billion South Korean won ($101.0 million). Fourth-quarter sales decreased 4.8%, to won5.4 trillion. Operating profits dropped 27% in...

Kumho to review synthetic rubber production rates in February
Kumho Petrochemical (Seoul) plans to review the reduced production rates of its synthetic rubber plants at Yeosu and Ulsan, South Korea, over February, a source close to the company said today. Oversupply concerns and poor demand, especially from tire...

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CHINA

South Korea's benzene exports to China rise amid crude volatility
South Korea's benzene exports to China have increased in January on month-on-month and year-on-year (YOY) bases, data obtained by IHS Chemical show. Volatile crude oil futures have put downward pressure on spot prices for benzene of South Korean origin...

Sinopec's ethylene production up 7.2% in 2014
Sinopec produced 10.7 million m.t. of ethylene in 2014, up 7.2% from 9.98 million m.t. in 2013, the company announced today. Sinopec's production accounted for 63% of China's overall ethylene production in 2014. The National Bureau of Statistics (Beijing)...

Dow Corning appoints new head of China business
Dow Corning says that it has recently appointed Jeroen Bloemhard as its new president/Greater China. Bloemhard, who brings over 20 years’ professional experience in the silicones industry, will lead the corporate management of the Greater China team. It...

China's ethylene production up 6.4% in December
China produced 1.49 million m.t. of ethylene in December 2014, taking the full-year tally to 17.0 million m.t., the National Bureau of Statistics (NBS; Beijing) announced today. The monthly production figure was 6.4% higher year-on-year (YOY), and the annual...

Ube Industries buys Dow out of electrolytes joint venture
Ube Industries announced today that it has bought a majority stake in Advanced Electrolyte Technologies (AET; Midland, MI) and intends to raise its stake further by end of March. AET was originally established in December 2011 as an equally owned joint...

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INDIA/PAKISTAN

Jubilant and Syngenta Sign Pyridines Supply Deal
Jubilant Organosys has signed a multimillion-dollar, long-term agreement to supply pyridines to Syngenta....

FDA issues import alert against Ipca API plant
FDA, on 22 January, issued an import alert for an active pharmaceutical ingredient (API) manufacturing facility of Ipca Laboratories (Mumbai), located at Ratlam, India. An import alert allows FDA to detain, without physically examining, products that either...

Reliance Industries raises $1 billion for capital expenditure program
Reliance Industries has raised $1 billion for its capital expenditure program through an issue of 4.125% ten-year US dollar-denominated senior unsecured notes, the company announced today. The notes were priced at 240 basis points above the 10-year US...

BASF India reports a loss
BASF subsidiary BASF India (Mumbai) reports a net loss of 395.9 million Indian rupees ($6.4 million) in its fiscal third quarter, ended 31 December 2014, compared with a net profit of Rs10.7 million in the corresponding quarter of the previous fiscal year...

Indian government body recommends against safeguard duty on imports of flexible slabstock polyol
The Directorate General of Safeguards (DGS), which is part of India’s Ministry of Finance (New Delhi), following an investigation, says that it does not recommend a safeguard duty on imports of flexible slabstock polyol of molecular weight 3000-4000. An...

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AUSTRALIA/NEW ZEALAND

Chevron to sell 4.2 million m.t. of LNG to Korean trader over five years
Chevron says that it will sell 4.2 million m.t. of liquefied natural gas (LNG) to SK LNG Trading (Seoul) over five years starting in 2017. Chevron says its Australian subsidiaries signed a binding sales and purchase agreement with SK LNG Trading and that...

Australia ethane pipeline deliveries up 35% in fourth quarter
Ethane Pipeline Income Fund (Sydney) transported 61,077 m.t. of ethane for the three months ended 31 December 2014—up 35% year-on-year—through its Australian pipeline, the company said today. In the corresponding quarter of 2013, about 45,372 m.t...

Woodside delays final decision for Browse FLNG project to mid-2016
Woodside Petroleum (Perth, Australia) expects to make a final investment decision for its Browse floating liquefied natural gas (FLNG) project in mid-2016, the company said today. The company previously scheduled the decision for the second half of 2015. The...

Air Products builds hydrogen fueling station in Australia
Air Products announced that it has sold a hydrogen fueling station to Hyundai Motor Company Australia (HMCA). The station will be used to fuel a Hyundai ix35 hydrogen-powered zero-emission fuel cell electric vehicle, the first hydrogen-powered car to be...

Nuplex completes sale of distribution, masterbatch businesses in Australia and New Zealand
Polymer resins producer Nuplex Industries (Auckland) says that it has completed the sale of its Australia and New Zealand based agency and distribution business and its plastic additives business, to Axieo (Sydney). Axieo is a new company formed with funds...

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