I ndustry News
Dow exploring divestiture options
The Dow Chemical Company is
exploring divestiture options for its
Clear Lake Operations acrylic acid
and esters, and UCAR Emulsion
Systems specialty latex business in
North America. Dow has engaged
J.P. Morgan to act as financial adviser in support of this effort.
The exploration of strategic
options for the business is driven by
Dow’s interest in proactively mitigating potential anti-trust issues
associated with its previously
announced acquisition of Rohm and
Haas.
The business includes an acrylic
acid and esters production plant
located in Clear Lake, TX, and
UCAR Emulsion System specialty
latex product plants located in St.
Charles, LA; Alsip, IL; Torrance, CA
and a commercial and technical center in Cary, NC. As divestiture
options are considered, the business
will continue to be sharply focused
on effectively managing operations,
competing in the market, delivering
exceptional value to customers and
the safety of Dow employees, the
company reported.
REICHHOLD TO BUILD
RESIN PLANT IN TIANJIN, CHINA
Reichhold has recently announced
plans to expand into the Chinese
market by building a composite
resins plant in Tianjin, China. Phase
I of the new plant is scheduled for
completion by the end of 2009. This
first phase will have resin capacity of
12,000 tons per year and will also be
capable of producing vinyl esters, gel
coats and structural adhesives.
“We are very excited about this
opportunity to expand our business
into China in order to serve our growing base of strategic global customers
in addition to the local market,” said
Doug Frey, executive VP, global composites, Reichhold. “The new facility
in Tianjin will produce the full range
of Reichhold composite offerings in
support of our strategy to deliver our
products and technology consistently
to customers worldwide. While the
plant is being constructed, we have
contract manufacturing arrangements already in place to support our
customers in the interim period.”
Reichhold’s composites offering
includes unsaturated polyesters,
vinyl esters, gel coatings, structural
adhesives and flame retardant resins
for a wide variety of markets, including industrial, construction, marine
and wind energy.
COGNIS SELLS ITS STAKE IN
JV TO PTT CHEMICAL
Cognis has sold its fifty percent stake
in Cognis Oleochemicals joint venture to PTT Chemical International,
a Singapore-based wholly-owned
subsidiary of PTT Chemical Public
Company Ltd. PTT Chemical is
Thailand’s largest producer of olefins
and associated products. Antonio
Trius, CEO of Cognis, stated that
“the sale of our stake in Cognis
PRICING CHANGES
Cytec: Jan. 1—up to 5% increase for PTZ
phenothiazine.
Dianal America: Effective immediately—
20% increase for methyl/butyl methacrylate
copolymer.
Oxea: Sept. 1—$0.04 in the U.S. and
$88/MT increase in South and Central
America, Asia, Africa and the Middle East for
i/n butanol, i/n butyl acetate, n propanol and
n propyl acetate.
Tronox: Sept. 1—$200/ton increase for all
Oleochemicals reflects our strategy
to consistently concentrate on the
innovation-driven growth markets of
wellness and sustainability.”
TROY RECEIVES ENVIRONMENTAL
STEWARDSHIP AWARD
Troy Corporation’s Newark, NJ manufacturing facility was awarded the
New Jersey Department of
Environmental Protection (NJ DEP)
Stewardship Award. This award is
given to members of the regulated
community who are engaged in positive activities that benefit the environment. The NJ DEP presented the
award to Edward Capasso, corporate
director environmental/regulatory
affairs. The NJ DEP’s Environmental
Stewardship Award recognizes businesses and corporations that go
beyond the minimum requirements of
existing rules and regulations.
ALTANA ACQUIRES EFFECT
PIGMENT BUSINESS OF USBP
The Altana Group signed a contract
to acquire the effect pigment business of United States Bronze
Powders Inc. (USBP). In 2007, USBP
achieved sales of approximately $8
million in this business area. USBP
titanium dioxide grades in the Asia-Pacific
region.
DISTRIBUTOR APPOINTMENTS
BASF has appointed D. H. Litter Co. as its
exclusive distributor for its Acronal, Acronal
Optive, Butofan, Butonal, Styrofan and Styronal
latex dispersion products in ME, NH, VT, MA,
CT, RI, NY, NJ, PA, MD, DE, WV and VA.
Fuji Silysia Chemical has appointed
Majemac Southeast, LLC as its distributor for
its amorphous silica in MS, AL and GA.
