MOSCOW (MRC) -- Brenntag, the global market leader in chemical distribution, says that its annual shareholders' meeting will take place as planned on 10 June. But, due to the spread of the coronavirus disease 2019 (COVID-19) pandemic, the meeting will be held as a purely virtual event, without the physical presence of shareholders, according to Chemweek.
Due to the COVID-19 pandemic and to protect the health of shareholders, employees, and the service providers involved, this year's shareholders’ meeting cannot take place as planned in Essen, Germany, says Brenntag.
"It is nevertheless important to us to hold the general shareholders’ meeting on the initially planned date and thus enable the shareholders to vote on the items on the agenda at that time," says Christian Kohlpaintner, CEO of Brenntag. "We have therefore decided to make use of the possibility created by the legislator to hold a virtual general shareholders’ meeting."
As MRC reported earlier, since 1 February 2014, Brenntag has startied distributing the cellulosic additive and latex powder portfolio of Dow Construction Chemicals in Germany and Austria.
We also remind that Dow Chemical began major maintenance on the LHC 1 cracker at Terneuzen, Netherlands from 9 September, 2019. More than 1,500 extra employees from various external companies carried out maintenance work in the subsequent period. LHC stands for Light Hydro Carbons, or hydrocarbons. The cracker splits naphtha - a derivative of crude oil - into hydrocarbons such as ethylene and propylene. These are the raw materials for the other Dow factories that make chemicals and plastics from them. Together with two other naphtha crackers, LHC 1 forms the heart of the Terneuzen Dow site.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 383,760 tonnes in the first two month of 2020, up by 14% year on year. High density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased due to the increased capacity utilisation at ZapSibNeftekhim. At the same time, PP shipments to the Russian market were 192,760 tonnes in January-February 2020, down by 6% year on year. Homopolymer PP accounted for the main decrease in imports.
Brenntag is the global market leader in full-line chemical distribution. Linking chemical manufacturers and chemical users, Brenntag provides business-to-business distribution solutions for industrial and specialty chemicals globally. The value-added services include just-in-time delivery, product mixing, formulation, repackaging, inventory management, drum return handling as well as extensive technical support. Headquartered in Mulheim an der Ruhr, Germany, the company operates a global network with more than 400 locations in 70 countries.