BASF to set up new global business unit combining all pigments activities

MOSCOW (MRC) -- BASF will form a global business unit (GBU) combining all of its pigments activities effective January 2016. In the second half of 2016, BASF intends to carve out its pigments business and establish separate legal entities, reported the producer on its site.

With sales of about EUR1 billion in 2014 and 2,500 employees globally, BASF holds a leading position in the pigments market, offering the broadest portfolio of products and technology. The new GBU will likely be headquartered in the Ludwigshafen area. All employees who are dedicated to the pigments business will be transferred to the new GBU.

"We have achieved and maintained a leading position in the pigments market through acquisitions and a series of successful restructuring measures. The new global business unit will fully concentrate on the pigments business and thus be even more focused on supporting the needs of our pigments customers," said Dr. Markus Kramer, President of BASF’s Dispersions & Pigments division.

Dr. Alexander Haunschild, Senior Vice President of the regional business unit Pigments and Resins Europe and appointed head of the GBU, stated: "By creating an organization fully dedicated to pigments, we will adapt better to the challenges in the pigments industry. Our customers will benefit from tailored services and higher responsiveness."

BASF’s pigments business serves a variety of industries including paints & coatings, printing & packaging and plastics. The portfolio comprises of color pigments such as phthalocyanines, high performance pigments, azo pigments, effect pigments, inorganic pigments, dyes and pigment preparations.

As MRC wrote before, BASF will expand its capacity for the production of Paliocrom effect pigments by more than 20% by 2017 in Ludwigshafen, Germany. The investment will enable the company to accommodate for the growing demand of its aluminum-based effect pigments in the automotive coatings sector. With an investment of approximately EUR10 million, BASF aims to strengthen its position in this fast-growing market.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF had sales of over EUR74 billion in 2014 and over 113,000 employees as of the end of the year.
MRC

Jilantai Salt Chemical restarted PVC plant in China after maintenance

MOSCOW (MRC) -- Jilantai Salt Chemical has restarted a polyvinyl chloride (PVC) plant following maintenance turnaround, reported Apic-online.

A Polymerupdate source in China informed that the plant restarted on July 20, 015. It was shut on May 26, 2015.

Located in Inner Mongolia, the plant has a production capacity of 400,000 mt/year.

As MRC informed before, Junzheng Chemical restarted its PVC plant in mid-July 2015 following maintenance turnaround. It was shut in mid-June2015. Located at Wuhai in Inner Mongolia, the plant has a production capacity of 320,000 mt/year.

Besides, Yili Nangang Chemical shut down its PVC plant for maintenance turnaround on June 25, 2015. It is likely to remain off-stream for around one month. Located in Xinjiang, China, the plant has a production capacity of 120,000 mt/year.
MRC

Eastman increases Acids prices on August 1, 2015

MOSCOW (MRC) -- Eastman Chemical Company is increasing prices on the following products August 1, 2015, or as contracts allow, reported the producer on its site.

These increases are due to elevated operating costs, especially in raw materials.

Thus, EASTMAN is raising off-list prices of isophthalic acid by USD 0.02/lb (USD 0.04/kg) in North America.

As reported earlier, in May 2015, the board of directors of Eastman Chemical Company declared a quarterly cash dividend of USD0.40 per share on the company's common stock. The dividend is payable July 1, 2015, to stockholders of record as of June 15, 2015.

We also remind that, as MRC informed before, in December 2014, Eastman Chemical Company announced the completion of its acquisition of Taminco Corporation, a global specialty chemical company, for a total of USD2.8 billion in cash and assumed debt. The acquired Taminco businesses are expected to be accretive to 2015 earnings per share by greater than USD0.35, excluding acquisition-related costs and charges, and to 2016 earnings per share by greater than USD0.60.

Eastman 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. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2014 revenues of approximately USD9.5 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 15,000 people around the world.
MRC

Deceuninck sees higher net profit in second half of 2015

MOSCOW (MRC) -- Belgian PVC window frames maker Deceuninck said on Wednesday it expected net profit to rise in the second half of 2015, adding that it would be able to pass on higher raw material prices to customers, said Reuters.

The group said prices for PVC had reached a record level after four consecutive raw material cost increases since March.

In the first half, the group saw an increase in sales in all of the regions where it does business, except for central and eastern Europe, especially due to lower sales in Russia.

Deceuninck made a net profit of 4.7 million euros (USD5.14 million) in the first half, well above the 0.4 million in the same period last year. (USD1 = 0.9142 euros).

As MRC informed earlier, Deceuninck North America, a leading designer and manufacturer of high-quality systems for windows, doors, and outdoor living, has recently added three PVC lineal lamination lines to its existing lamination capabilities to meet consumer demand for a wider variety of color customization options.

Deceuninck NV is a Belgian designer and producer of PVC systems for windows and doors, interior, roofline & cladding and terraces. The company extrudes PVC and the single base material Twinson. Founded in 1937, with its headquarters in Hooglede-Gits, the Deceuninck Group operates in more than 75 countries and has 35 subsidiaries across Europe, North America and Asia, including the United States, United Kingdom, Russia and Turkey.
MRC

Alpek Q2 earnings increased 55% year on year

MOSCOW (MRC) -- Alpek SAB, the polyester-manufacturing unit of Mexican conglomerate Alfa SAB, jumped the most since February after profit surged in the second quarter, said Bloomberg.

Shares climbed 4 percent to 24.16 pesos at 9:09 a.m. in Mexico City, the best performance on the benchmark IPC equity index, which dropped 0.2 percent. Alpek earlier gained 7.7 percent, the biggest intraday advance since Feb. 24. Alfa increased 2.4 percent to 33.50 pesos.

Alpek’s net income in the last quarter was 1.3 billion pesos (USD80.8 million), compared with a forecast of 549 million pesos from Banco Bilbao Vizcaya Argentaria SA. Earnings before interest, taxes, depreciation and amortization rose 55 percent to USD195 million from a year earlier. The company raised its 2015 projection Wednesday for so-called Ebitda to USD585 million.

The company cancelled a joint venture (JV) with Russia’s United Petrochemical Co (UPC) to build a purified terephthalic acid (PTA) and polyethylene terephthalate (PET) plant in Russia’s independent republic of Bashkortostan.

Alpek is the largest petrochemical company in Mexico and the second largest in Latin America. The company operates through two business segments: Polyester chain products (PTA, PET and polyester fibers), and Plastics and Chemicals products (PP, EPS, caprolactam, polyurethanes and other specialty and industrial chemicals). Alpek is a leading producer of PTA and PET worldwide, operates the largest expandable polystyrene plant in America and one of the largest polypropylene plants in North America. It is also the only producer of caprolactam in Mexico.
MRC