Evonik is moving its North America headquarters to Piscataway, New Jersey

Evonik, one of the world's leading specialty chemicals companies, is moving its North America headquarters from Parsippany, N.J., to Piscataway, N.J., said the company.

The official address change took effect on January 1, 2023. The Parsippany location will be closed with the end of its lease later this year.

The relocation is part of Evonik’s larger site rationalization plan to ensure efficient operations and future growth in North America. Evonik has embraced a hybrid work model in the region to consolidate office space, enhance employee engagement, and increase employer attractiveness.

“For Evonik, moving towards a hybrid workplace is a strategic opportunity to attract and retain diverse talent and to enable an efficient real estate footprint,” says Bonnie Tully, president North America region. “We want to foster conditions for growth, creativity, and innovation.”

The new Piscataway headquarters, located approximately 35 miles southwest of New York City, consists of administrative offices, laboratories for Research & Development, and the largest Collaboration Hub in the North America region – designed to support a hybrid and creative work environment for more than 160 employees. Evonik has recently opened similar hubs at its sites in Richmond, Va., and Mobile, Ala., and will eventually feature them at six locations in North America.

The uniquely designed spaces offer open areas and meeting rooms for employees to work onsite without needing individual offices. Employees have access to collaboration technology like digital whiteboards and tools for video conferencing. "The Collaboration Hubs promote interactions across our business lines and functions," says Tully. "It will shape the future of work at Evonik and contribute to our culture of innovation."

North America is an essential growth market for Evonik. The region contributed roughly a quarter (23%) to Evonik's annual sales in 2021, making it the second-largest revenue source after Europe (EMEA). By 2030, Evonik aims to invest more than USD3 billion in Next Generation Solutions — products with superior sustainability benefits. Evonik will invest an additional USD700 million in Next Generation Technologies to optimize production processes and infrastructure and avoid CO2 emissions.

We remind, Evonik is pooling its expertise and integrating its alkoxides business into the Catalysts Business Line. The extensive portfolio of heterogeneous catalysts is thus now complemented by homogeneous catalysts. An international network of production sites and the highly experienced alkoxides team will additionally strengthen the Catalysts Business Line, one of Evonik's growth areas, from January 2023.

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Orbia's Connectivity Solutions business revenue for 4Q 2022 was USD317 M increased 7% and full year 2022 revenues of USD1370 M increased 38%, said the company.

4Q 2022 EBITDA of USD84 M increased 108% and EBITDA margin increased approximately 1305 basis points to 26.7%, while full year 2022 EBITDA of USD357 M increased 167% and EBITDA margin increased approximately 1260 basis points to 26.1%.

Orbia delivered solid results for 2022 and exceeded the upper end of its annual EBITDA guidance, which accounted for ongoing impacts from macroeconomic challenges and lower year-over-year revenue and profitability. For both the quarter and the year, Orbia generated strong cash flow and maintained a strong balance sheet, demonstrating resilience in its businesses and robust long-term fundamentals.

We remind, olvay and Orbia recently announced their entry into a joint venture framework agreement to create a partnership for the production of suspension-grade polyvinylidene fluoride (PVDF), creating the largest capacity in North Americam said the company. As it is further stated in a press release, the joint venture will create the largest PVDF production facility for battery materials in the region. The total investment is estimated around 850 million USD, partially funded by a grant to Solvay from the U.S. Department of Energy for a total of 178 million USD.

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Evonik has started up a new hollow-fibre spinning plant for the production of gas separation membranes at Schorfling, Austria, said the company.

The new production capacity enables the company to meet the ongoing strong demand for SEPURAN membranes in biogas, nitrogen, hydrogen and natural gas applications. Evonik invested a low double-digit million-euro amount in the new plant and created around 30 new jobs in Schorfling.

Lauren Kjeldsen, head of the Smart Materials Division, says: “The growth path of the membranes business clearly follows the group’s new sustainability strategy.” Last May, Evonik announced plans to invest €3 billion by 2030 in Next Generation Solutions, products with superior sustainability benefits. The company’s goal is to increase sales of Next Generation Solutions from the current 37% to more than 50% by 2030. The rapid increase in demand for Next Generation Solutions offers above-average growth potential for Evonik. “With our innovations, we support our customers in making their own products more sustainable and improving their own climate footprint. Our membrane technology for efficient gas separation is a living example of how Next Generation Solutions from Evonik contribute to sustainable added value in close cooperation with all market players,” says Kjeldsen.

In the new production plant, a high-performance polymer is processed into fine hollow-fibers in several process steps. They are at the heart of Evonik’s SEPURAN membrane technology. The specialty chemicals company draws on its many years of expertise in polymer chemistry and adjusts key membrane properties already at the development stage of the base material — a high-performance polymer — to produce particularly selective and robust membranes that can withstand extreme pressures and temperatures.

We remind, Evonik is pooling its expertise and integrating its alkoxides business into the Catalysts Business Line. The extensive portfolio of heterogeneous catalysts is thus now complemented by homogeneous catalysts. An international network of production sites and the highly experienced alkoxides team will additionally strengthen the Catalysts Business Line, one of Evonik's growth areas, from January 2023.

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Investors snapped up all of the shares on offer in Abu Dhabi National Oil Co.'s natural gas business within hours after the initial public offering kicked off, showing that demand for Middle East share sales continues to remain strong, said Gulfnews.

Adnoc Gas' initial public offering order book was fully covered, according to a message sent to investors and seen by Bloomberg. Several funds, including Abu Dhabi state-linked entities, have committed USD850 million as cornerstone investors. Among them are also Alpha Dhabi and International Holding Co.

The UAE’s national oil company is seeking to raise as much as USD2 billion from its gas business in what is set to be the biggest IPO so far this year. Abu Dhabi National Oil Co. is selling a 4 per cent stake in Adnoc Gas, with each of the 3.07 billion shares being offered at between Dh2.25 and Dh2.43.

At the top of the range the company will be valued at USD50.8 billion, making it one of the world's largest listed gas firms and roughly on a par with Eni SpA and Occidental Petroleum Corp.

ADNOC Gas will be the fifth ADNOC subsidiary or JV that will have a presence on ADX.

We remind, Abu Dhabi National Oil Co (ADNOC) announced the formation of, ADNOC Gas, effective 1 Jan 2023, a new worldscale gas processing, operations and marketing company. ADNOC Gas combines the operations, maintenance and marketing of the ADNOC Gas Processing and ADNOC LNG (liquefied natural gas) businesses into one global consolidated business.

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Pembina will proceed with construction on a 55,000 bbl/day propane-plus fractionator at its existing Redwater fractionation and storage complex, said the company.

The project updates were included in the company’s Q4 earnings press release. The new fractionator will be RFS IV.

“The Redwater Complex is underpinned by long-term take-or-pay contracts and in recent quarters, Pembina has successfully extended existing contracts and signed incremental new contracts,” the company said. The existing facility is highly utilised and RFS IV is needed to meet customer demand, Pembina executives said.

Existing infrastructure at the Redwater Complex, including storage caverns and extensive unit train capable rail facilities, provide Pembina an ability to offer incremental fractionation capacity at a competitive cost.

RFS IV is expected to cost about USD460m and will leverage the design, engineering and operating best practices of its existing facilities, Pembina said. The project includes additional rail loading capacity at the Redwater Complex.

As per MRC, Pembina Pipeline and Inter Pipeline (IPL) are mulling the prospects of dehydrogenation/polypropylene (PDH/PP) production in Alberta province. On May 31, 2021, Pembina and Inter Pipeline entered into an agreement (the "Strategic Combination") to create one of the largest and best positioned energy infrastructure companies in Canada. Together the companies' diversified and integrated asset base can support and grow an extensive value chain for natural gas, natural gas liquids and crude oil, from wellhead to end user, that far exceeds anything either company can do separately.

Pembina Pipeline has been a gas supplier to the North American power system for over 60 years. Pembina owns and operates pipelines that transport a variety of hydrocarbon fluids, including conventional and synthetic crude oil and others, produced in Western Canada and North Dakota.

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