Ineos Styrolution launches bio-attributed ABS resins

Ineos Styrolution has developed what officials claim are the world's first fully bio-attributed ABS resins, said the company.

The new ECO B line is part of Ineos Styrolution's Terluran-brand ABS portfolio. Officials with Ineos Styrolution in Frankfurt, Germany, said in a news release that the new grades complement previous mechanically recycled Terluran ECO materials.

Officials described the new ABS grades as "the final jigsaw piece" in Ineos Styrolution's polystyrene and ABS portfolio, which now consists of mechanically recycled and bio-attributed solutions for all three of the firm's products lines.

The new ECO B grades are based on renewable feedstock according to an ISCC-certified mass balance approach. The new feedstock can be used as a replacement for conventional feedstock for all three components in ABS, acrylonitrile, butadiene and styrene monomer.

Officials said this approach maximizes the renewable feedstock in the material while minimizing the CO2 footprint. One of the new grades contains bio-attributed content from styrene monomer from renewable sources. The other new grade contains a complete bio-attributed solution with bio-attributed content from all three monomers.

Terluran is used in a broad range of applications, including automotive, household, electronics, construction, toys, and sports and leisure. "This new bio-attributed standard ABS rounds up our range of sustainable Terluran solutions," ABS Product Director Yohann Bach said. "I expect it to be particularly interesting for customers with very ambitious sustainability goals minimizing their ecological footprint while not compromising on performance."

Officials added that all of Ineos Styrolution's bio-attributed products have identical physical and mechanical properties as their counterparts based on conventional feedstock. Ineos Styrolution is a global leader in styrenic materials, operating 20 production sites in 10 countries. The firm employs 3,600 and posted sales of almost USD6 billion in 2021.

As per MRC, INEOS Styrolution, the global leader in styrenics, has introduced a lineup of commercially available sustainable polystyrene products that is second to none. The new products provide customers a choice to select the best fit for their application. The complete lineup introduced today follows initial announcements on mechanically-recycled polystyrene solutions in 2021[1]. The new “ECO” products offer the performance of the respective virgin products, but with a significantly lower CO2 footprint. All products are drop-in solutions.

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Martin Brudermuller, CEO of BASF was re-elected President of Cefic (European Chemical Industry Council) for another 2-year term, effective immediately, at Cefic’s annual General Assembly, said the company.

Dr. Martin Brudermuller, re-elected Cefic President: "I am grateful to Cefic members for entrusting me to guide and inspire our industry in these very turbulent times. I started my first term as President when the COVID-19 pandemic was raging across the world. Today, we have a war on our doorstep in Europe and an unprecedented energy crisis that is threatening the very existence of Europe’s industrial production.

For the first time in decades, Europe imports more chemicals than it exports. Many of our value chains are breaking up as we speak. There is no more room for business as usual. Appropriate political action is needed and we need it fast to safeguard our industrial base in Europe.

At the same time, the chemical industry needs to re-invent how we produce and what we produce in less than 30 years from now to meet the European Green Deal goals with a double twin transition challenging us. The next years will become a “stress test” for the resilience and ingenuity of our industry. And robust the progress with the Chemicals Transition Pathway including an appropriate prioritisation and sequencing of regulatory measures will be crucial, not only for our sector but for the whole EU economy”.

BASF and Hannong Chemicals are planning to establish a production joint venture “BASF Hannong Chemicals Solutions Ltd.” BASF will hold 51% and Hannong Chemicals 49% shareholding, in the proposed joint venture. The joint venture will combine BASF’s strong technology and product innovation capabilities with Hannong’s highly efficient production capabilities to supply best-in-class non-ionic surfactant products to BASF and Hannong Chemicals, each with their own sales and distribution network, enabling the two companies to cater for increasing market demand.
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AdvanSix announced a preliminary update on its third quarter planned turnaround activities and its expected third quarter 2022 financial results, said the company.

The Company expects third quarter 2022 Adjusted EBITDA to be in the range of USD31 to USD34 million. “During the planned multi-site plant turnaround in September, additional required maintenance at our Frankford phenol plant contributed to reduced production across our integrated value chain and a delayed ramp to full operating rates at our Hopewell and Chesterfield sites, resulting in an incremental approximately USD15 million unfavorable impact to pre-tax income inclusive of fixed cost absorption, higher maintenance expense and lost sales. Despite the unfavorable impact of the extended turnaround, cash generation remained robust in the quarter enabling a previously announced 16% increase in our dividend payout, opportunistic share repurchases of approximately USD13 million in the quarter and further debt paydown,” said Erin Kane, president and CEO of AdvanSix.

“While quarterly operational performance overall did not meet our expectations, I’m encouraged that our planned plant turnaround activities are now behind us, supporting future performance, and expect our facilities to operate at our typical high utilization rates for the remainder of the year. Consistent with others in the industry, we are seeing signs of slowing growth in consumer durables and building and construction end markets. We have a proven track record of navigating through challenging macro conditions and continue to believe we are well positioned going forward. Our outlook for the fourth quarter remains favorable, with expected performance rebounding towards results demonstrated in the first and second quarters of this year, supported by our diverse product portfolio, advantage of our business model, and strong underlying agriculture and fertilizer industry fundamentals,” concluded Kane.

The Company will issue its third quarter 2022 financial results before the opening of the New York Stock Exchange on Friday, November 4.

As per MRC, AdvanSix, a new resin and chemical division of Honeywell, has agreed to acquire US Amines in a USD100 mln all-cash deal. Subject to customary closing conditions, the acquisition is expected to close in Q122 and will be accretive to 2022 earnings.

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In light of Russia’s escalating war of aggression against Ukraine and the illegal annexation of Ukraine's Donetsk, Luhansk, Zaporizhzhia and Kherson regions, the Council decided today to impose a new package of economic and individual sanctions against Russia, said Consilium.europa.

The agreed package includes a series of biting measures intended to reinforce pressure on the Russian government and economy, weaken Russia's military capabilities, and make the Kremlin pay for the recent escalation.

This new sanctions package against Russia is proof of our determination to stop Putin’s war machine and respond to his latest escalation with fake “referenda” and illegal annexation of Ukrainian territories. We are further hitting Russia’s war economy, limiting Russia‘s import/export capacities and are on the fast-track to liberate ourselves from Russian energy dependence. We are also targeting those responsible for the illegal annexation of Ukrainian territories. The EU will stand by Ukraine for as long as it takes.

The package agreed today introduces into the EU legislation the basis to put in place a price cap related to the maritime transport of Russian oil for third countries and further restrictions on the maritime transport of crude oil and petroleum products to third countries.

Concretely, the combination of these measures works as follows. It will be prohibited to provide maritime transport and to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries of crude oil (as of December 2022) or petroleum products (as of February 2023) which originate in or are exported from Russia. The price cap derogation would allow the provision of the transport and these services if the oil or petroleum products are purchased at or below a pre-established price cap. The new prohibition for EU vessels to provide maritime transport for such products to third countries will apply as of the date in which the Council will unanimously decide to introduce the price cap. The price cap will drastically reduce the revenues Russia earns from oil after its illegal war on Ukraine has inflated global energy prices. The oil price cap can also serve to stabilise global energy prices.

As concerns trade, the EU is extending the import ban on steel products that either originate in Russia or are exported from Russia. Further import restrictions are also imposed on wood pulp and paper, cigarettes, plastics and cosmetics as well as elements used in the jewellery industry such as stones and precious metals, that altogether generate significant revenues for Russia. The sale, supply transfer or export of additional goods used in the aviation sector will also be restricted.

We remind, The United States imposed sanctions on companies it accused of involvement in Iran's petrochemical and petroleum trade, including five based in China, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal.
The Iranian mission to the United Nations in New York did not immediately respond to a request for comment. U.S. Secretary of State Antony Blinken said in a separate statement that the State Department designated two China-based companies, Zhonggu Storage and Transportation Co Ltd and WS Shipping Co Ltd.
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DKSH creates a scalable platform with the acquisition of Terra Firma for growing its presence in Performance Materials in North America, said the company.

Terra Firma has national coverage in the USA and Canada and is representing premier suppliers in its core segments of Coatings, Adhesives, Sealants, and Elastomers (CASE), plastics and construction, agrochemicals, health and nutrition, as well as personal care.

The addition of a strong player in the North American Industrial speciality chemicals distribution sector is a major contribution to DKSH's Performance Materials business and is complementary to DKSH's existing speciality industrial business globally.

Terra Firma currently operates with around 100 highly skilled professionals across the region and has offices in Los Angeles, Dallas, Baltimore, and Toronto. Terra Firma expects net sales of around $240 M in 2022. The transaction, which is expected to close towards the end of year, will be valued at USD360 M enterprise value.

DKSH will acquire at least 80% of Terra Firma with the remainder held by the company's existing management team. The transaction is EPS-accretive and will be financed via debt and cash.

As per MRC, specialty chemicals producer Elementis (London, UK) says it has entered an exclusive distribution agreement with DKSH (Zurich, Switzerland), a holding company specializing in market expansion services, for personal care applications in the French market. The two companies have a 40-year relationship and, under the terms of the new agreement, DKSH will provide sales and marketing, distribution, logistics, and customer management for Elementis’s entire range of specialty ingredients for personal care products.
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