DSM Engineering Plastics global HQ moved to Asia

(plastech) -- DSM Engineering Plastics announces that its global headquarters have moved to Singapore. The Company, which has development, sales and manufacturing facilities located in The Netherlands, USA, Japan, China, Taiwan, India, Belgium and Russia has moved a number of its key functions to Asia in order to underline its commitment to the Asian market which is expected to represent the major share of the company's growth in the coming years.

According to Roelof Westerbeek, President DSM Engineering Plastics, the move - which was pre-announced in 2010 - is making good progress and will be completed in 2012: "This is a significant step as it puts us right at the heart of the fast-growing Asian marketplace. It will help DSM Engineering Plastics to quicker anticipate the needs of our customers, both regionally and globally. In addition, it underlines the high importance that DSM puts on high growth economies as one of the key growth drivers."


SIBUR and Gazprom agree a long-term supply contract

(sibur) -- SIBUR and Gazprom have signed a long-term contract to supply natural gas liquids (NGL) from the Surgut Condensate Stabilisation Plant to the Tobolsk-Neftekhim facility up to 2021.

The annual supply of NGL between 2012 and 2016 will increase from 440,000 tonnes to more than one million tonnes. Agreement on the volumes of hydrocarbon feedstock to be supplied in subsequent years will be reached at a later date.
The contract provides for formula pricing with reference to market conditions for NGL product processing and the cost of transportation and NGL fractionation.
In addition, the parties agreed to continue talks on supplying hydrocarbon feedstock to SIBUR gas-petrochemical enterprises located in other regions of Russia.
Dmitry Konov, CEO of SIBUR, said: "Issues surrounding long-term raw material supplies are important for the company's investment development. Through a strategic partnership with Gazprom and other leading oil and gas companies, SIBUR is able to multi-source light hydrocarbons, providing a base for the sustainable growth of petrochemical production".

SIBUR is the leading petrochemical company in Russia and Eastern Europe. The Company operates across the entire petrochemical process chain from gas processing, production of monomers, plastics and synthetic rubbers to the processing of plastics. SIBUR is a vertically integrated company with its gas processing facilities providing feedstock for its petrochemical production.


BASF increases prices for certain polyalcohols in Europe

(basf) -- BASF is increasing the prices of the polyalcohols neopentylglycol (NPG), trimethylolpropane (TMP), hydroxypivalic acid neopentyl glycol ester (HPN), 1,6-hexanediol (HDO) and 1,5-pentanediol (PDO), with immediate effect or as existing contracts permit by EUR150/mt in Europe.

These price adjustments are necessary to support BASF's ongoing efforts to assure highest levels of product and service quality to its customers and due to continued increases in raw materials and energy prices.
The polyalcohols mentioned are widely used in solvent-free coatings and for the production of polyurethanes, alkyd resins, unsaturated polyester resins and synthetic lubricants.


US's Apollo cleared to buy Swiss Taminco

(europolitics) -- Apollo Global Management, a private equity fund, obtained the European Commission's green light to buy Taminco, a Belgian chemical firm, on 13 February.

The executive's decision clears the acquisition of the Belgian producer of alkylamines (chemicals used in a wide range of products, including detergents, insecticides, fertiliser and water purification) by the US-based equity fund active in various businesses worldwide, particularly in the chemicals sector. Apollo has offered EUR1.1 billion to CVC Capital Partners, which currently owns a controlling share in Taminco.

The Commission concluded that the transaction would not raise competition concerns because the parties do not operate on the same markets and will continue to face competition from other operators on related markets. The investigation confirmed the absence of overlap between Taminco's activities and those of other companies currently owned by Apollo, but explored potential vertical effects on markets for methylamine, used as an input by another chemical firm controlled by Apollo, Momentive Performance Holdings LLC.
The executive concluded that although Taminco is an important supplier of methylamine, there are a number of other suppliers of this product on the market. At the same time, the volumes of methylamine needed to produce polyurethane catalysts are not significant in comparison with its other applications. The merged entity would therefore be unable to shut out competing methylamine suppliers.


SABIC and Sinopec to build USD5.3 bln methanol complex

(nasdaq) -- Saudi Basic Industries Corp., or Sabic, and China Petrochemical and Chemical Corp. (SNP), or Sinopec, have agreed to start negotiations with Trinidad and Tobago to possibly build a USD5.3 billion methanol complex in that country, according to the world's largest petrochemical maker by market value.

Sabic and Sinopec together were selected by Trinidad and Tobago over other international bidders, Sabic said in a statement posted on the Saudi bourse website Saturday.
The approval is for the start of negotiations on establishing the complex, and is not binding for either side, the statement added.
Last month Sabic signed a protocol of cooperation with Sinopec to explore new business opportunities.

Sabic is 70 percent owned by the government of Saudi Arabia.