Air Liquide sells Industrial Merchant Business in Saudi Arabia

Air Liquide sells Industrial Merchant Business in Saudi Arabia

MOSCOW (MRC) -- Air Liquide has sold its Industrial Merchant Business in Saudi Arabia to Abdullah Hashim Industrial Gases & Equipment, said Process-Worldwide.

With this deal, the company plans to focus on large industries and emerging new opportunities in clean hydrogen and energy transition in the GCC region especially Saudi Arabia.

Air Liquide has announced the sale of its Industrial Merchant business in Saudi Arabia to Abdullah Hashim Industrial Gases & Equipment Co., Air Products’ Merchant Industrial Gas Joint Venture in Saudi Arabia. This transaction includes Air Liquide’s share in Air Liquide Khafra Industrial Gases.

This divestment, which complements the sale announced in April of Air Liquide’s Industrial Merchant business in the United Arab Emirates and Bahrain to Air Products group, is immaterial with regards to the overall portfolio of Air Liquide in the Africa Middle East and India region. It is part of the Group’s strategy to regularly review its asset portfolio and focus on selected fast developing areas and activities.

As a consequence of this divestiture, the 228 employees of this activity are now integrated within the Abdullah Hashim Industrial Gases & Equipment Co. organization.

Air Liquide is well-positioned to further grow its already strong presence in the Gulf Cooperation Council (GCC) region, in particular in Saudi Arabia, in Large Industries and Healthcare businesses, and pursue the many opportunities emerging with clean hydrogen and energy transition.

We remind, Air Liquide confirms its intention to withdraw from Russia. Taking a responsible and orderly approach, the Group has signed a Memorandum of Understanding with the local management team with the objective to transfer its activities in Russia in the framework of an MBO (Management Buy Out). This project is notably subject to Russian regulatory approvals. In parallel, as a consequence of the evolution of the geopolitical context, the activities of the Group in Russia will no longer be consolidated starting September 1, 2022.
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Evonik, Likat identify new process options for hydroformylation

Evonik, Likat identify new process options for hydroformylation

MOSCOW (MRC) -- Evonik and the Leibniz Institute for Catalysis (Likat) have discovered a new type of hydroformylation said Process-Worldwide.

The research team revealed that the important reaction can also work at low pressures with a stable catalyst. The discovery can also lead to the cost effective and sustainable production of aldehydes and alcohols.

Marl/Germany – A research team involving Evonik and the Leibniz Institute for Catalysis (Likat), has made another breakthrough in the field of hydroformylation. Hydroformylation is one of the most important reactions in industrial organic chemistry. Unsaturated compounds are converted into aldehydes and alcohols using synthesis gas.

Until recently, the scientific consensus was that this reaction, if catalyzed with cobalt, could only be carried out under high pressure conditions without the catalyst decomposing. This was disproved by Professor Dr. Robert Franke, head of hydroformylation research at Evonik, together with research partners from Likat, Dr. Baoxin Zhang and Dr. Christoph Kubis. "With this discovery, we have identified new process options for hydroformylation," said Dr. Franke, who is also a professor of chemistry at Ruhr University in Bochum. "In the future, it may be possible to make this large-scale reaction much more economical and environmentally friendly. Developing these processes will be our task for the next few years."

We remind, business line Coating Additives of Evonik Industries AG (Essen, Germany) is expanding production capacity of ACEMATT precipitated matting agents at its Taiwan manufacturing facility. The significant capacity increase will help meet growing demand for matting agents in Asia, with the capacity expansion expected to be completed by the second half of 2023.

Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of EUR12.2 billion and an operating profit (adjusted EBITDA) of EUR1.91 billion in 2020. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers.
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Eastman Chemical Company drops 4% on reducing Q3 profit guidance

Eastman Chemical Company drops 4% on reducing Q3 profit guidance

MOSCOW (MRC) -- Eastman Chemical Company provided an update on its third-quarter 2022 financial results, said the company.

Third-quarter 2022 adjusted earnings per share (EPS) are expected to be approximately USD2.00. Previous expectations were for solid growth compared to third-quarter 2021 adjusted EPS of USD2.46.

“There are three main factors negatively impacting our volume and product mix in the third quarter,” said Mark Costa, Board Chair and CEO. “While demand across some end markets, including agriculture and personal care, is demonstrating resilience, demand has slowed more than expected in August and September, in particular in the consumer durables and building and construction end markets and the European and Asian regions. At the same time, logistics have been challenged by an acceleration of marine logistics issues on the U.S. East Coast, particularly impacting high-value specialty products in Advanced Materials bound for other regions. Operational issues have also impacted volume and product mix, as recovery of our polymer lines from an electricity outage in July at our Kingsport facility took longer than expected,” Costa added.

Commenting on higher costs in the quarter, Costa said, “Certain costs have trended higher than expected and are impacting third-quarter performance, particularly for natural gas in the U.S., which reached a 14-year high during the quarter. A stronger U.S. dollar against a number of currencies, including the euro and the yen, is also negatively impacting results.

“In response to these accelerating challenges and continued uncertainty, we are raising prices where appropriate to offset higher costs and implementing measures to control costs across the company,” Costa said. “As we close a challenging third quarter, our commitment to our growth programs is unwavering. Our investments have us well positioned as a leading specialty materials company, underpinned by our leadership position in the circular economy,” Costa concluded.

This update to our outlook does not include any impact from the recent rail embargo or the potential for a rail worker strike in the U.S. later this month. Eastman will announce third-quarter 2022 financial results after the close of U.S. equities markets on Thursday, October 27, and conduct a public teleconference to discuss results at 8:00 a.m. ET on Friday, October 28. Eastman expects to provide a fourth-quarter financial outlook at that time.

As per MRC, Eastman announced a planned increase of its Therminol 66 heat transfer fluid manufacturing capacity in Anniston, USA. The plant expansion is expected to be complete in 2024. With the expansion of its capacity for Therminol 66, Eastman increases its production volume for this heat transfer fluid in the US by 50?%. The expansion of the company’s plant in Annistion, USA, is expected to be completed in 2024.

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2021 revenue of approximately USD10.5 billion and is headquartered in Kingsport, Tennessee, USA.
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Milliken starts up PP clarifier plant in S Carolina

Milliken starts up PP clarifier plant in S Carolina

MOSCOW (MRC) -- Milliken started a new clarifier plant in Blacksburg, South Carolina, in the US, said the US-based specialty chemicals company.

The plant will increase by 50% the company's capacity to produce the polypropylene (PP) clarifier Millad NX 8000, the company said. It should reach full capacity by the end of the year.

Milliken did not disclose the capacity.

We remind, Milliken, an American polymer additives and coloring company, has launched a new masterbatch plant to increase the clarity of polypropylene (PP) in Blacksburg, South Carolina, USA. The plant will increase the company's masterbatch capacity by 50% to increase the clarity of Millad NX 8000 polypropylene (PP).

Milliken & Company is a diversified company that has been in business since 1865. The corporate headquarters is located in Spartanburg, South Carolina. The company operates in a wide variety of areas: the chemical industry, flooring, performance and protective textiles, and healthcare.
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Encina to deliver first-ever high purity aromatics made entirely from end-of-life plastics

Encina to deliver first-ever high purity aromatics made entirely from end-of-life plastics

MOSCOW (MRC) -- Encina Development Group, LLC announced the first-ever production of high purity aromatics made entirely from end-of-life mixed plastics, said Hydrocarbonprocessing.

Encina has delivered its high purity monomer chemicals to customers and confirms that ongoing production will continue.

David Roesser, PhD, CEO of Encina stated, “Encina’s delivery of on-specification, circular chemicals is a major milestone for the company, as it validates our goal to deliver high purity ISCC+ chemical solutions for our customers on a global basis; the feedback from everyone has been overwhelmingly positive."

Encina operates a circular chemicals facility in San Antonio, Texas and recently completed an expansion phase with engineering and construction work undertaken by Chemex Global, LLC of The Woodlands, Texas. The facility is designed to accept mixed end-of-life plastics, which are then catalytically converted into circular chemicals for Encina’s customers.

"According to the EPA, less than 10% of plastics are currently recycled,” said Carlo Badiola, Senior Vice President of Engineering & Technology. “Encina’s large-scale solution being deployed next year will enable the diversion of 450,000 tons of mixed plastic streams from landfills or incineration to manufacture ISCC+ circular chemicals to help our customers meet their ongoing sustainability goals."

We remind, US-based plastics recycling start-up Encina plans to produce benzene, toluene and mixed xylenes (BTX) as well as propylene from its planned new USD1.1bn project in Point Township, Pennsylvania, US. The Point Township Circular Manufacturing Facility would use Encina’s proprietary fluidized catalytic system and consume 450,000 tonnes/year of mixed waste plastics, a company spokesperson confirmed. Construction is expected to begin in the autumn of 2022, and the facility is expected to be fully operational by the autumn of 2024.
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