Huntsman acquires remaining ownership of Russian polyurethanes company

(huntsman) -- Huntsman Corporation (NYSE: HUN) today announced that it has acquired the remaining ownership of Russian joint venture Huntsman NMG (HNMG), giving it full ownership of the company. The financial terms of the deal were not disclosed.

HNMG is a leading supplier of polyurethane systems to the adhesives, coatings and footwear markets in Russia, Ukraine and Belarus.

Commenting on the deal, Anthony P. Hankins, President of the Polyurethanes division said "The Russian Federation is recognized as an important and fast growing economy, with double digit growth rates predicted for polyurethane products. This investment will give us greater access to the high value coatings, adhesives and elastomers markets through an established, state-of-the-art operations platform that will enhance our ability to provide differentiated solutions for our customers."

Huntsman is a global manufacturer and marketer of differentiated chemicals. Our operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging.
MRC

(fibre2fashion) -- The ethylene production capacity in the world is likely to rise at a robust pace in 2012, according to a report by Oil & Gas Journal.

World ethylene capacity has gradually risen from 119.6 million tons per year (tpy) in 2007 to 126.7 million tpy in 2008, 130 million tpy in 2009, 138 million tpy in 2010 and around 141 million tpy in 2011.

In 2011, two new world-scale ethylene plants came up – a 1.2 million tpy plant in Saudi Arabia and a 1.3 million tpy plant in Venezuela. In comparison, eight new ethylene plants went operational in 2010 with a total capacity of 8.65 million tpy.

For 2012, OGJ predicts the global ethylene production capacity to rise swiftly by 6.5 million tpy, if all projects that are currently underway commence operations as per their schedules.

However, new capacity addition in 2013 may again decrease to little over 2 million tpy. But post-2013, the capacity would again continue to increase at rapid pace, according to the OGJ.

Several ethylene capacity expansion projects are currently underway in various parts of the world.

MRC

(hydrocarbonprocessing) -- Linde Engineering is set to build a new Alpha-Sablin plant for the production of linear alpha olefins (LAO) in Nizhnekamsk, Russia. NKNH awarded Linde contracts for license, basic/detail engineering and supply of equipment and materials for revamping of NKNH’s existing LAO plant.

Upon completion, the plant will be operated by Nizhnekamskneftekhim (NKNH), a Russian petrochemical producer.

NKNH awarded Linde contracts for license, basic/detail engineering and supply of equipment and materials for revamping of NKNH’s existing LAO plant. Terms were not disclosed.

The plant is expected to come on-stream by mid of 2014, supplying NKNH with 37,000 tpy of linear alpha olefins with maximized production of C4 and C6 fractions.

The revamp project will partially make use of the existing equipment of NKNH’s former LAO plant with implementation of Alpha-Sablin technology, Linde officials said.

Alpha-Sablin is a flexible full range process for the production of linear alpha olefins by selective catalytic oligomerization of polymer-grade ethylene, jointly developed and owned by Linde Engineering and Saudi Basic Industries Corp. (Sabic).
MRC

(hydrocarbonprocessing) -- BASF on Tuesday announced its acquisition of Iowa-based ITWC, a specialist in cast elastomer polyurethane systems and polyester polyols.

Financial details of the deal were not disclosed.

With more than 80 employees, including business management, manufacturing, R&D, sales, and administrative functions, ITWC operates sites in Malcom, Iowa, and Riverside, California.

BASF is acquiring the assets of ITWC, including those obtained during ITWC's purchase of California’s Hydroseal Polymers in November 2010.

Cast elastomers are used in a wide range of applications across several markets and are known for their toughness and abrasion resistance.

Typical applications include industrial tires and rollers, recreational wheels, transportation gears and pulleys, processing equipment for construction, sieves and scrapers, sealants and adhesives.
MRC

(hydrocarbonprocessing) -- The complex includes proprietary BP paraxylene technology offered for license exclusively by Lummus Technology, which uses a novel crystallization step and other features to provide for low capital and operating costs. Paraxylene is an intermediate in the manufacture of polyester.

CB&I has been awarded a contract by Reliance Industries to provide technology for an aromatics complex to be built at Jamnagar, Gujarat, India.

"Our role as the exclusive licensor for BP's paraxylene technology is another example of how strategic collaborations are an effective approach for global producers like Reliance," said CB&I CEO Philip K. Asherman.

"Combined with the expertise of CB&I's Lummus Technology business sector, this technology provides the optimal solution in terms of cost and reliability," he added.

Financial terms were not disclosed.

The complex includes proprietary BP paraxylene technology offered for license exclusively by Lummus Technology, which uses a novel crystallization step and other features to provide for low capital and operating costs.

Paraxylene is an intermediate in the manufacture of polyester, a polymer used for a variety of applications, from fibers to engineering plastics.
MRC