MOSCOW (MRC) -- AdvanSix, a new resin and chemical division of Honeywell, has agreed to acquire US Amines in a USD100 mln all-cash deal, according to Seeking Alpha.
Subject to customary closing conditions, the acquisition is expected to close in Q122 and will be accretive to 2022 earnings.
U . Amines manufactures and markets synthetic Alkyl and Allyl amines, with manufacturing locations in Bucks, Alabama and Portsmouth, Virginia. The business is estimated to generate revenue of about US70M in 2022.
AdvanSix expects the acquisition to boost its value chain by internalizing supply of products and raw materials, and add a unique platform in agrochemicals. The deal will also help it venture deeper into high-value applications such as electronics, pharmaceuticals, water treatment.
As MRC reported earlier, AdvanSix completed a planned turnaround at its phenol and acetone plant in Frankford, PA, USA. The maintenance works at the plant with a capacity of 1.1 billion pounds of phenol per year (about 500,000 tons per year) and 608 million pounds of acetone per year (308,400 tons per year) began in late March 2017 and was expected to take 2 -3 weeks. This plant is the third largest producer of phenol and acetone in North America. AdvanSix uses cumene derived from benzene and propylene to produce phenol and acetone.
Phenol is the main feedstock component for the production of bisphenol A (BPA), which, in its turn, is used to produce polycarbonate (PC).
According to MRC's ScanPlast, Russia's estimated consumption of PC granules (excluding imports and exports to/from Belarus) totalled about 82,300 tonnes in 2021, down by 8% year on year (89,200 tonnes a year earlier).