Celanese announces acetyls price increases

MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company, will increase list and off-list selling prices for the following acetyl intermediate products. The price increases below are effective November 1, 2015, or as contracts allow, as per the company's press release.

Celanese Corporation last raised its list and off-list selling prices for ethyl acetate and butyl acetate in July in view of the recent rapid increase and continued volatility in China methanol prices. Thus, prices of ethyl acetate and butyl acetate rose by USD30/tonne for Asia (outsite China).

As MRC informed previously, Celanese Corporation raised list and off-list selling prices of Vinyl Acetate Monomer (VAM) effective as of July 1, 2015, as follows:

- by USD0.03/lb - for USA, Canada and Mexico;
- by USD70/tonne - for Central and South America;
- by USD40/tonne - for Asia (outside China).

Besides, Celanese Corporation raised its April prices of vinyl acetate-based emulsions sold in Asia. Vinyl acetate ethylene (EVA) emulsions increased by Yuan 400/tonne for China and USD55/tonne for the rest of Asia effective April 24, 2015, or as contracts allow. This price increase affected all applications including, but not limited to, adhesives, paints and coatings, waterproofing, building and construction, glass fiber, carpet and paper. This increase was attributed to the continued pressures on raw materials, notably ethylene and VAM.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Texas, Celanese employs approximately 7,500 employees worldwide and had 2014 net sales of USD6.8 billion.
MRC

Dow announces an update on its intermediate-term goals

MOSCOW (MRC) -- The Dow Chemical Company has announced an update on its intermediate-term goals. The company will continue its intense focus on delivering earnings growth and increasing shareholder returns, which have yielded 12 quarters in a row of year-over-year earnings growth, margin expansion and record levels of cash returned to shareholders, as per the company's press release.

To that end, Dow today announced that its Board of Directors has declared a 10 percent increase in the company’s dividend, from USD0.42 per share to USD0.46 per share in the fourth quarter. This brings the Dow’s annualized dividend to USD1.84 per share - the highest in Dow’s history.

The dividend will be payable on January 29, 2016 to shareholders of record on December 31, 2015. Dow has paid its shareholders cash dividends every quarter since 1912. Once this fourth quarter increase is implemented, Dow’s dividend will have increased by 21% on a compound annual basis since 4Q 2009.

Additionally, the Company today announced that it expects to accelerate its three-year, USD5 billion share buyback tranche - repurchasing USD1 billion of shares in the fourth quarter, and the remaining USD2 billion in 2016. Once completed, Dow will have executed USD9.5 billion in share repurchases since 2013.

As MRC reported earlier, in November 2014, Dow Chemical announced an increased divestiture target aligned to further enhance the value of its portfolio and support the company’s market-driven, integrated strategy. On track to complete its goal of realizing USD4.5 billion to USD6 billion in proceeds by year-end 2015, and with additional portfolio management actions underway, Dow increased its divestiture target to USD7 billion to USD8.5 billion to be complete by mid-2016. Since 2013, the company has generated USD2.5 billion in proceeds, reallocating this capital to remunerate shareholders, fund growth and reduce debt.

The Dow Chemical Company is an American multinational chemical corporation headquartered in Midland, Michigan, United States. Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber. The сompany's more than 5,000 products are manufactured at 188 sites in 36 countries across the globe.
MRC

PolyOne announces 20% increase in quarterly dividend

MOSCOW (MRC) -- The Board of Directors of PolyOne Corporation has declared a quarterly cash dividend of twelve cents (USD0.12) per share on the common stock outstanding, representing a 20% increase to the quarterly cash dividend and the fifth consecutive year of annual dividend growth, as per the company's press release.

The USD0.12 per share will be paid on January 7, 2016 to stockholders of record on December 18, 2015.

"I am pleased to announce an increase in our quarterly dividend, which now represents the fifth consecutive year of annual dividend growth," said Robert M. Patterson, president and chief executive officer, PolyOne Corporation. "As we execute our proven strategy, we continue to serve customers with excellence, invest in our businesses and deliver value to shareholders through share price appreciation, increasing dividends and share repurchases."

As MRC wrote before, in October 2014, PolyOne Corporation declared a quarterly cash dividend of ten cents (USD0.10) per share on the common stock outstanding, representing a 25% increase to the quarterly cash dividend and the fourth consecutive year of annual dividend growth.

We also remind that in early 2014, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants, and are pre-certified to meet or exceed biocompatibility requirements for ISO 10993 and/or USP Class VI protocols.

PolyOne Corporation, with 2014 revenues of USD3.8 billion, is a premier provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
MRC

Wacker starts up new reactor increasing production capacity for dispersions in USA

MOSCOW (MRC) -- Wacker Chemie AG has officially started up a new reactor for vinyl acetate-ethylene copolymer (EVA) dispersions at its Calvert City site in Kentucky, USA, said the producer on its site.

By expanding its capacities, Wacker is meeting global demand for its dispersions and dispersible powders which is rising amid such world trends as urbanization, renovation and environmental consideration. As a result, Wacker is now well positioned to offer its customers in the region consistently high product quality and supply security over the long term.

Having invested around EUR50 million in the site’s capacity and infrastructure, Wacker is strengthening its position as one of the world’s leading suppliers of EVA-based dispersions and dispersible powders.

Wacker’s complex in Calvert City is the big-gest of its kind outside of Europe. With the expansion, Wacker is meeting the globally rising demand for its dispersions and dispersible powders.

"Our production complex in Calvert City is the largest of its kind outside of Europe, supporting our successful, customer-focused global growth strategy", explained Rudolf Staudigl, CEO of Wacker Chemie AG. "Demand for our high-quality EVA products continues to increase, especially for formulating low-emission, eco-friendly products. The additional capacity allows us to continue to meet our customers’ needs reliably over the coming years, solidifying our leading global market position", Staudigl said.

Wacker has been producing dispersions and dispersible polymer powders in Calvert City since 1998. The new reactor in Calvert City with an annual capacity of 85,000 metric tons further underlines Wacker’s position as a global technology and market leader in the field of EVA-based dispersions marketed under the VINNAPAS brand.

VINNAPAS dispersions are popular binders in the construction, paints, coatings and adhesives industries. They find application, for instance, in the formulation of low-odor and low-emission indoor paints, but also in plasters, technical textiles and nonwovens or carpet applications.

As MRC informed earlier, in 2013, Wacker Chemie AG officially launched its new production plant for EVA dispersions at its Ulsan site in South Korea. The additional 40,000 tonnes from the second reactor line increases the site's EVA-dispersion capacity to a total of 90,000 tonnes per year. The production capacity of the site has, thus, almost doubled, making the plant complex one of the biggest of its kind in South Korea.

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% 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

Unipetrol posted operational profit of CZK 3 bn in Q3

MOSCOW (MRC) -- In Q3 2015, Czech petrochemical group Unipetrol recorded operational profit (EBITDA LIFO) of CZK 3.002 bn and net profit of CZK 1.582 bn, as per the company's report.

Very favourable macroeconomic conditions and increased refinery products sales including Benzina fuels stations network supported positive financial results of the company. The results of the company were affected by the extraordinary situation at the steam cracker from 13 August.

"The impacts of extraordinary situation in Zaluzi were reduced among others, thanks to cooperation with the majority shareholder PKN Orlen, who helped to secure deliveries of some feedstock and products," says CEO and Chairman of the Board of Directors of Unipetrol Marek Switajewski. "The situation at the place of the accident is fully stable and safe, the facility was completely inertized from the residual hydrocarbons. Our priority remains the safety on which we will put a maximum emphasis, both during the repair works and during the subsequent restart of production," adds Marek Switajewski.

The property damage that were caused on account of the extraordinary event from 13 August 2015 is estimated to CZK 597 million (net book value). The company books the impairment of the asset in this value within the Q3 2015 financial results. Unipetrol is insured against both property & mechanical damages and business interruption. Unipetrol estimates the lost profit not covered by business interruption insurance will amount to approximately CZK 1.6 bln in Q3. The restart of partial operation of the steam cracker (on the level of 65 %) as well as related petrochemical production and an increase of the refinery utilization ratio of the Litvinov refinery should be realized in July 2016. Standard operation of the steam cracker unit at maximum capacity utilization is very roughly estimated from October 2016.

In the downstream segment that combines refinery and petrochemical parts, the company recorded EBITDA LIFO of CZK 2.719 bn in 3Q15. The operational profit was positively influenced by significantly better refinery products sales and lower crude oil prices, supporting high margins on refinery products. Combined petrochemical margin reached 942 EUR/t. On the other hand company had to account impairment to damaged assets on steam cracker of CZK 597 m in connection with the extraordinary event in Zaluzi from 13 August.

Sales volumes of petrochemical products decreased to 332 kt in Q3 (-26% y/y). Unipetrol restarted production of polymers at Litvinov plant - polyethylene and polypropylene thanks to external feedstock deliveries of ethylene and propylene that are under normal circumstances produced by the steam cracker unit at the Litvinov plant.

As MRC informed previously, in late August 2015, Unipetrol declared force majeure on the petrochemical production section of its Litvinov complex, in the Czech Republic, following a 13 Aug. fire at the 544,000-t/y ethylene cracker.

Unipetrol , a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the Unipetrol Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 4,000 people.
MRC