other specialty chemical applications since its inception in 1946.
Transaction
Completed Between
Wintershall and Statoil
BASF Group company Wintershall
is continuing its growth course in
Norway. By acquiring shares in the
production fields Gjøa (5%) and Vega
( 24.5%), Wintershall is increasing its
production in Norway from about
40,000 barrels of oil equivalent (boe)
to about 60,000 boe per day. In addition, Wintershall is taking over shares
in the Aasta Hansteen development
project (24%), the Asterix discovery
(19%), the Polarled pipeline project ( 13.2%) and in four exploration
licences near Aasta Hansteen. The
shares in the assets encompass reserves
and resources (2P/2C) of around 170
million boe. Furthermore, Wintershall
will also assume the operatorship
of the Vega production field.[1] The
transfer of operatorship from Statoil
to Wintershall is planned for the end
of the first quarter of 2015.
Wintershall has purchased the shares
for US$1.25 billion. The transaction
is financially effective retroactively to
January 1, 2014.
A further payment of up to US$50
million will be made once Aasta Hansteen
has been developed in accordance with
the current project plan. Additionally
both companies have agreed to work together in developing the exploration potential of the Vøring Basin.
“With this transaction, we are taking a
major step towards achieving our goal of
establishing ourselves as one of the leading oil and gas companies in Norway,”
said Rainer Seele, Chairman of the Board
of Executive Directors of Wintershall.
“Last year we took over the opera-
torship of the Brage platform and com-
menced the self-operated production
of oil and gas in Norway. We have al-
ways said that this is just the beginning
for us and that we want to increasingly
position ourselves as an operator of
producing fields. I am therefore happy
that the agreement with Statoil also
envisages that Wintershall shall take
over the operatorship of Vega,” said
Bernd Schrimpf, managing irector of
Wintershall Norge.
U.S. Zinc Celebrates 65
Years in Business
U.S. Zinc is commemorating the company’s
opening in 1949, celebrating 65 successful years in the zinc products marketplace.
The company’s roots were as a wholesaler
of nonferrous metals. Now, U.S. Zinc is a
premier global supplier of zinc oxide, zinc
dust, zinc metal and zinc fines.
Through its worldwide footprint, U.S.
Zinc provides services to industries such
as tires, coatings, rubber, chemicals and
pharmaceuticals. The company it is the
largest metallic zinc materials recycler in
the industry and is proudly committed to
the philosophy of Our Cycle is Recycle.
U.S. Zinc owns and operates the world’s
largest single site distilled zinc dust plant.
With the recent capacity expansions at its
two Tennessee plants, a new China plant
and addition of the Tres Maria, Brazil, facility to its portfolio, U.S. Zinc has more
than doubled its zinc oxide availability
in the last seven years. The company is
now the largest zinc oxide producer in
the world.
“Celebrating 65 years signifies not
just our longevity but the strong quality of our products and the exceptional
capability of our people,” said Rodrigo
Daud, president of U.S. Zinc. “Our innovative performance today and in the
future will ensure highest quality products and unequaled reliability for our
customers, further distinguishing U.S.
Zinc in the marketplace.”
PolyOne Acquires Specialty
Assets From Accella
Performance Materials
PolyOne Corporation, a global provider of specialized polymer materials,
services and solutions, has announced
the acquisition of specialty assets from
Accella Performance Materials, a leading North American manufacturer of
liquid polymer formulations. Accella
will retain its polyurethanes and rubber
products businesses.
The acquired business joins PolyOne’s
Global Color, Additives and Inks segment,
and provides specialty coatings solutions
and value-added services in a wide range
of applications, including consumer
products, interior and under-the-hood
automotive parts, outdoor recreational
equipment and food packaging.
“We’re thrilled to have acquired this
specialty business and its innovative tech-
nologies, and we look forward to serving
our newest customers with increased in-
novation, delivery, quality and services,”
said John V. Van Hulle, president, Global
Color, Additives and Inks, PolyOne
Corporation. “The acquired Accella
technology portfolio complements our
existing specialty business, and expands
our presence in fast-growing end markets
that are aligned with key megatrends.”
“This is a compelling acquisition that
highlights our approach to M&A,” said
Robert M. Patterson, president and chief
executive officer, PolyOne Corporation.
“Our invest-to-grow integration play-
book is one we have historically executed
with great success. We will leverage our
best-in-class technical, commercial and
operational capabilities to drive growth
for this new business, PolyOne, and most
importantly our customers.”
Vencorex Plans Expansion
of its Isophorone
Diisocyanate Production
Facility in France
Vencorex is significantly expanding its capacity of isophorone diisocyanate (IPDI).
The expansion of this monomer capacity will take place at Pont de Claix
site, France. The new capacity will be 20
k T to be available by the end of 2016.
“This announcement is an important
step of Vencorex’s strategy which will
enhance our capability to serve specialty
areas. It underlines our commitments to
isocyanates markets and we will with this
investment further strengthen our position as one of the global leading suppliers,” said Magnus Lanner, CEO.
IPDI is an aliphatic isocyanate monomer used as raw material in the synthesis
of polyurethane resins (PUR). CW
