BASF increases prices for Basonat in Europe, Africa and Western Asia

MOSCOW (MRC) -- BASF, the world's petrochemical major, has increased prices in Europe, Africa and Western Asia for HDI (Hexamethylene Di-Isocyanate) and derivatives range (Basonat) by 3% to 5% with immediate effect or as contracts allow, as per the company's press release.

The price increase is necessary due to the current market situation and the significant rise in the cost of raw materials.

The products affected by the price increase are used mainly as raw materials in the coatings, printing and packaging industries.

Earlier, in April 2014, BASF increased its selling prices for butanediol and derivatives in Europe. Prices for the following products will be increased with immediate effect, or as existing contracts permit: 1,4 butanediol (BDO) - by EUR60/tonne, tetrahydrofuran (THF) - by EUR80/tonne, polytetramethylene ether glycol (PolyTHF) - by EUR80/tonne. The price adjustment ensures that BASF can continue to offer quality products and services to its customers.

As MRC informed previously, in January, 2014, BASF and China Petroleum & Chemical Corporation (Sinopec) broke ground on the construction of its world-scale isononanol (INA) plant in Maoming Hi-tech Industrial Development Zone, Maoming, China. At start-up in 2015, the plant, which is the first of its kind in China, will serve the increasing market demand for next-generation plasticizers. A newly-formed 50-50 joint venture company has been created, BASF MPCC Company Limited.

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF had sales of about EUR74 billion in 2013 and over 112,000 employees as of the end of the year.
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MOSCOW (MRC) -- Jilin Petrochemical has shut a low density polyethylene (LDPE) plant for maintenance turnaround, reported Apic-online.

A Polymerupdate source in China informed that the plant was shut on May 5, 2014. It is likely to remain off-stream for around 15 days.

Located in Jilin province, China, the plant has a production capacity of 275,000 mt/year.

As MRC wrote before, Jilin Petrochemical shut a high density polyethylene (HDPE) plant for a on-month maintenance turnaround on April 10, 2014. Located in Jilin province, China, the plant has a production capacity of 300,000 mt/year.

Besides, earlier, Sinopec Shanghai Petrochemical shut down its HDPE plant on March 26, 2014 owing to feedstock issues. A restart date for the plant could not be ascertained. Located in Shanghai, China, the plant has a production capacity of 250,000 mt/year.
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MOSCOW (MRC) -- The board of directors of Eastman Chemical Company, a global specialty chemical company, has declared a quarterly cash dividend of USD0.35 per share on the company's common stock, reported the company in its press release.

The dividend is payable on 1 July, 2014, to stockholders of record as of 13 June, 2014.

As MRC wrote previously, brand owners can now select Eastman Tritan copolyester and Eastar copolyester from Eastman Chemical Company for carbon filtration and reverse osmosis systems. Unlike polycarbonate (PC), both materials are made without bisphenol A (BPA), a big advantage for brand owners looking to answer consumers’ needs for BPA-free products. Tritan and Eastar provide a clear view of the filtration media, without the breakage and durability issues associated with some clear plastics, including styrene acrylonitrile copolymers (SAN). The glasslike clarity of Tritan and Eastar also allow for greater tinting flexibility, compared with the noticeable blue cast of SAN.

Eastman (headquartered in Kingsport, Tennessee, USA) is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables.
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MOSCOW (MRC) -- Kem One, Europe’s third-largest producer of polyvinyl chloride (PVC) has announced an increase of EUR25/tonne in May prices of suspension PVC (SPVC) grades and mass PVC (MPVC) grades, reported the company in its press release.

Kem One will maintain a strict price policy in order to recover the margins, deteriorated by the weakness of the market for caustic soda.

Thus, no concession will be made with respect to the movement of the "feedstock".

As MRC informed previously, Kem One raised its February prices of SPVC and MPVC grades, given the weakness of the market for caustic soda and margin erosion. The increase for the products stated above was EUR25/tonne. In January 2014, Kem One had already increased PVC prices by EUR50/tonne.

Kem One, a fully integrated vinyl production company, was established mid-2012 following the acquisition of Arkema's vinyl products division by the Klesch Group. The company employs 2,600 people at 22 manufacturing sites, primarily in Europe but also in Asia and North America. Europe’s third-largest producer of PVC with revenues in excess of one billion euros, KEM ONE continues to grow and build on its numerous strengths with a view to becoming market leader for integrated vinyl solutions.
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MOSCOW (MRC) -- Kraton Performance Polymers, Inc., a leading global producer of styrenic block copolymers, announces financial results for the quarter ended March 31, 2014, said the company in its press release.

First quarter 2014 sales revenue was USD311.7 million on sales volume of 74.4 kilotons, down USD28.5 million compared to sales revenue of USD340.1 million in the first quarter 2013 on sales volume of 78.2 kilotons.
Adjusted EBITDA at estimated current replacement cost (" ECRC") (non-GAAP) was USD37.5 million in the first quarter 2014, up USD8.3 million compared to USD29.2 million in the first quarter 2013.

Gross profit per ton at ECRC (non-GAAP ), excluding certain costs associated with downtime at our Belpre, Ohio, and Berre, France, facilities was USD880 per ton in the first quarter 2014 compared to USD772 per ton in the first quarter 2013.

First quarter 2014 net loss attributable to Kraton was USD7.9 million, compared to a net loss of USD3.7 million in the first quarter 2013. First quarter 2014 adjusted net income attributable to Kraton (non-GAAP) was USD15.1 million, compared to adjusted net income of USD2.1 million in the first quarter 2013.

Net loss attributable to Kraton and adjusted net income attributable to Kraton includes a positive spread between FIFO and ECRC of USD4.0 million in the first quarter 2014.

"Our first quarter 2014 sales volume of 74.4 kilotons reflects continued attractive growth in sales for our CariflexTM isoprene rubber and isoprene rubber latex products, and overall innovation sales volume increased 17% compared to the first quarter of 2013. However, in the first quarter we incurred costs associated with the weather-related outage at our Belpre, Ohio facility and a small fire at our facility in Berre, France, both disclosed previously. Although, we were able to supply the majority of our customers' requirements, the production outages did limit our ability to fully satisfy demand, particularly for certain USBC product grades," said Kevin M. Fogarty, Kraton's President and Chief Executive Officer.

As MRC wrote before, Kraton Performance Polymers announced the introduction of two new hydrogenated styrenic block copolymers (HSBCs).

Kraton Performance Polymers, Inc., through its operating subsidiary Kraton Polymers LLC and its subsidiaries, is a leading global producer of engineered polymers and styrenic block copolymers ("SBCs"), a family of products whose chemistry was pioneered by us almost fifty years ago. Kraton manufactures products at five plants globally, including our flagship plant in Belpre, Ohio, as well as plants in Germany, France and Brazil, and a joint venture plant operated in Japan.
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