MOSCOW (MRC) -- To further aid in the fight against the COVID-19 pandemic, LyondellBasell (LBI) donated a key ingredient to Huntsman Corporation to produce hand sanitizer for US first responders, as per LBI's press release.
Huntsman recently delivered a 5-ton shipment of hand sanitizer to Huntsman Cancer Institute (HCI) and the associated medical facilities at the University of Utah to help protect healthcare workers treating COVID-19 patients.
Huntsman approached LyondellBasell to request a shipment of isopropyl alcohol (IPA), which is a key ingredient in hand sanitizer. Knowing that the request was to assist with first responders at HCI and the University of Utah, LyondellBasell agreed to donate enough IPA to support the cause.
"This is a critical time where industry players can work hand-in-hand to help safeguard our healthcare workers," said CEO Bob Patel. "We are proud to have played a role in the fight against this pandemic."
Many products that LyondellBasell makes are being used to fight the pandemic. From products that provide filtration in facemasks, to breathable films for protective suits, medical syringes, medical test kits, soaps, disinfectants, and many other products, TeamLYB is on the front lines against the virus.
"We are so grateful to Huntsman Corporation and LyondellBasell for making this donation," said University of Utah President Ruth V. Watkins. "This is an incredible example of how leading companies are stepping up to address vital needs of health providers who are on the front lines of battling the coronavirus pandemic."
We remind that, as MRC reported earlier, in January 2020, Indorama Ventures Public Company Limited (IVL), a global chemical producer, completed its acquisition of Huntsman’s world-class integrated oxides and derivative businesses, including a large flagship site on the US Gulf Coast (USGC) at Port Neches, as well as Chocolate Bayou and Dayton in Texas, Ankleshwar in India, and Botany in Australia, as per IVL's press release.
The acquisition is a profitable and growing end applications business along with unique products and geographical profile among the crowded olefins space. It has a well-integrated assets base with an extensive infrastructure and future expansion possibilities. The area is adjacent to many USGC feedstock suppliers. The cash value of USD2.0 billion makes it the largest acquisition by Indorama Ventures ever and now our capital employed is nicely spread over plastic, chemicals and fibers. The transaction value translates to an EV/EBITDA of ~5.7x and is expected to add substantial synergies to Indorama’s existing 450kta Ethane/Propane Cracker and our 550kta EO/EG. IVL will now be integrated from Ethane to PET as well as the high-margin EO and PO derivative businesses.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 215,390 tonnes in the first month of 2020, up by 23% year on year. Shipments of all grades of high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) increased due to higher capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 127,240 tonnes in January 2020, up by 33% year on year. ZapSibNeftekhim's homopolymer PP accounted for the main increase in shipments.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2017 revenues of more than USD8 billion. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. The company operate more than 75 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 10,000 associates within its four distinct business divisions.
LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies.