Dow sells Angus Chemical to Golden Gate Capital

MOSCOW (MRC) -- Dow Chemical has announced that it signed a definitive agreement under which ANGUS Chemical Co. will be sold to Golden Gate Capital for USD1.215 billion, reported Hydrocarbonprocessing.

The transaction is expected to close during the first quarter of 2015, subject to completion of customary regulatory filings.

Dow had previously announced its intent to divest this business on Oct. 2. The divestiture aligns to Dow’s efforts to achieve its identified target of USD4.5 billion to USD6 billion in proceeds from shedding non-strategic assets and businesses by year-end 2015.

To date, Dow says it has achieved USD2.5 billion in proceeds designed to remunerate shareholders, reduce debt, and fund growth.

"With today’s announcement, Dow continues to demonstrate its rigorous focus on selectively shifting our portfolio away from assets that are no longer a strategic fit and optimizing their value," said Andrew N. Liveris, Dow’s CEO.

The divestiture of ANGUS includes the business headquarters and R&D facility in Buffalo Grove, Illinois; manufacturing facilities located in Sterlington, Louisiana, and Ibbenbueren, Germany; a packaging facility in Niagara Falls, New York; as well as the associated business, inventory, customer contracts, process technology, business know-how and certain intellectual property.

As MRC wrote before, in September 2014, Dow hired investment bankers including Morgan Stanley to sell its Angus Chemical Co. subsidiary in Buffalo Grove, Ill., as well as AgroFresh Inc.

ANGUS is the world's only chemical company dedicated to the manufacture and distribution of nitroalkanes and their derivatives, which are versatile additives and intermediates that help customers to enhance their products’ performance. Industries successfully using ANGUS’ products include paints and coatings, life sciences and biopharma, metalworking, personal care, pharmaceuticals, water treatment, oil & gas and many others.

The Dow Chemical Company is an American multinational chemical corporation. As of 2007, it is the second-largest chemical manufacturer in the world by revenue (after BASF) and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont). Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.
MRC

MOSCOW (MRC) --The Munich-based Wacker chemicals group has developed a thermally conductive adhesive for electronics applications, as per the company's press release.

The new silicone rubber with the trade name SEMICOSIL 975 TC is characterized by high thermal conductivity and good flow and processing properties. Even light pressure is enough to form an ultrathin adhesive layer between the contact surfaces. This ensures not only good bonding, but also optimum heat dissipation by the heat sink.

SEMICOSIL 975 TC is an ideal interface material for forming thermal and mechanical connections in power electronics components or packages.

As MRC informed earlier, Wacker is expanding its product range with a new liquid silicone rubber for the production of automotive gaskets. Molded parts made from the new silicone are resistant to heat and coolant and exhibit low compression set even under permanent stress. Car radiators and cooling-system components can thus be reliably sealed. ELASTOSIL RT 728, as the new silicone grade is called, can be injection molded or mechanically dispensed straight onto the part to be sealed.

Wacker Chemie AG is a worldwide operating company in the chemical business, founded 1914. The company is controlled by the Wacker-family holding more than 50 percent of the shares. The corporation is operating more than 25 production sites in Europe, Asia, and the Americas. The product range includes silicone rubbers, polymer products like ethylene vinyl acetate redispersible polymer powder, chemical materials, polysilicon and wafers for semiconductor industry.
MRC

MOSCOW (MRC) -- Russia's imports of polypropylene (PP) decreased by 15% in the first ten months of this year. The greatest reduction in import volumes occured for homopolymer PP, according to MRC analysts.

October PP imports in Russia declined to 13,400 tonnes following 16,700 tonnes surge in September. Total PP imports in the country dropped to 147,500 tonnes in January - October 2014, compared with 173,700 tonnes in the same time a year earlier. A significant increase in domestic PP output (over 20%) and the rouble devaluation resulted in a considerable drop in PP imports, with the largest reduction occured for homopolymer PP.

The structure of PP imports in the country over the reported period looked follows. October imports of homopolymer PP in Russia shrank to 3,500 tonnes, compared with 5,200 tonnes in September on the back of the continuing decline of the supply from Turkmenistan, South Korea and Saudi Arabia. Russia's imports of homopolymer PP totalled 48,400 tonnes in the first ten months of this year, down 28% year on year.

October imports of PP block copolymers in the country declined to 3,600 tonnes, compared with 4,200 tonnes in September on stronger demand in the sector of injection moulding and pipe extrusion. Total imports of PP block copolymers in Russia reduced to the level of 38,900 tonnes in the first ten months of the year, compared with 46,000 tonnes year on year, with the weakest demand seen from the producers of injection moulding products (down about 25%).

Imports of PP random copolymers in October were 3,600 tonnes, from 4,200 tonnes in September. Total imports of PP random copolymers in Russia dropped to 29,200 tonnes in January - October of this year, compared with 32,900 tonnes year on year. The biggest reduction occured for injection moulding (about 23%) and pipe grades (about 28%), while the demand for PP random copolymers from the producers of BOPP films grew by 10%.

Russia's imports of other polymers of propylene for the reported period increased to 31,000 tonnes, compared with 28,000 tonnes in the same time a year earlier.


MRC

MOSCOW (MRC) -- Evonik Industries has received a food contact substance notification (FCN) for its family of PA1010 polyamides, said company on its site.

The VESTAMID Terra DS16 natural may be used as a basic polymer in the production of articles intended for food contact. Details to the approved applications can be found in the FCN No.001439. Whereby, essentially, it may be come in contact with all types of food at chilled to elevated room temperatures for single use as well all types of food in repeated use application up to 100C.

Approval is based on the simulation and actual tested migration behavior of the monomers, oligomers and other trace substances. Much like the previous approvals set by the EU (Regulation-EC No.1935/2004) for the monomer DMDA (CAS646-25-3) very low specific migration levels (SML) are required.

Such expertise and dedication to superior quality has enabled the resulting SML’s to be well within the limits for food contact applications. "Receiving the FDA approval is a validation that our efforts to strive for the best quality bio-based polyamides on the market has paid off", said Dr. Benjamin Brehmer, Business Manager for biopolymers. "This milestone also allows us to confidently enter new markets with clarity of the regulatory situation".

VESTAMID Terra DS is based on polyamide 1010, which is the polycondensation product of 1,10-decamethylene diamine (D) and 1,10-decanedoic diacid (sebacic acid – S). Both decamethylene diamine and sebacic acid are derived from castor oil, making Terra DS a 100% bio-content polymer. VESTAMID Terra HS is based on polyamide 610, which is the polycondensation product of 1,6-hexamethylene diamine (H) and 1,10-decanedoic diacid (sebacic acid – S).

VESTAMID Terra HS is a 63% bio-content polymer. PA610 has already received both EU and USA food contact approvals with non-alcoholic foods. Having food contact approvals for both products enables Evonik to offer a broader portfolio of bio-based polyamide to the market.

VESTAMID Terra is derived partly or entirely from the castor bean plant, a raw material that is not animal feed, and which does not compete with that of food crops. Unlike other bio-sourced products, biopolyamide VESTAMID Terra is a high performance polymer, so there are no restrictions on its service life and it retains impressive physical and chemical resistance properties similar to petroleum-based high performance polymers.

As MRC informed earlier, Evonik Industries is launching two new products to replace microplastics in peeling products: the specialty silica SIPERNAT 2200 PC and SIPERNAT 22 PC. SIPERNAT 2200 PC and SIPERNAT 22 PC are listed as nature-identical by the International Natural and Organic Cosmetics Association (NATRUE), a globally active association for the promotion of natural skin care. The specialty silica SIPERNAT with its high purity level is an ideal solution because it fully meets the requirements for abrasive particles (polyethylene and polypropylene), which was used in the past in cosmetic peeling products.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
MRC

MOSCOW (MRC) -- Italian consulting firm Tecnimont will provide strategic services to help Bolivia develop a petrochemical project, state-owned oil company YPFB said, as per Plastemart.

YPFB CEO and Tecnimont executive signed a contract covering consulting services for the propylene and polypropylene (PP) plants to be built in Bolivia. The consulting firm must complete its work in H1-2015. The complex is expected to produce 350,000 metric tpa of propylene and PP.

"With this contract, we are taking another step toward the construction of these plants. We know Tecnimont's work, we have no doubts about the quality of the work it is going to complete within the established timeframe," CEO Villegas said. The petrochemical complex is to be built in the southern region of Tarija, with completion of the project slated for 2018.

As MRC wrote before, in late 2012, Braskem-Idesa awarded Tecnimont a USD191mn engineering and procurement contract for a 300,000t/y low density polyethylene (LDPE) unit to be constructed within the Ethylene XXI petrochemicals complex in Mexico's Veracruz state.
MRC