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Resins & Coatings

News Review

5

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U.S. refinery workers prepare for strike


The largest U.S. refinery workers' union is prepared to strike for the first time in 32 years, unless oil companies agree to step up safeguards by next February, a top union official said on Friday.
Some U.S. operators close down plants, where margins have been crushed by slackening domestic demand. Unlike the previous negotiations in early 2009, when unions were wary of asking too much as the economy slowly emerged from recession and the new Democratic U.S. president offered hope for the future, workers are prepared to stand stronger this year.
(Reuters)

Wages negotiations for the German Chemical workers adjourned with no result


The collective bargaining for wages of the the 550,000 employees in 1,900 companies in the German chemical industry yielded no result on Monday, JAN 26 in Nordrhein and will be re-started, while negotiations on labor contracts start on other German regions too. The IG BCE Union asks for a pay increase of 4.8%, while the Federal Employers' Association (BAVC) rejected the union's demands in advance of the talks.
(finanzen.net)
At the same time, the IG Metall Union of the German metal- and electronics industry workers (700,000 employees) asked for a 5.5% pay rise and prepare for strikes.
(finanzen.net)

SIKA negotiates to acquire AXSON


SIKA has entered into exclusive negotiations with Axson management and shareholders to acquire Axson Technologies, a leader in the field of epoxy and polyurethane polymer formulations for design, prototyping and tooling, structural adhesives, composite materials, and encapsulation products for the automotive, nautical, renewable energy, sports and leisure, and construction markets.
(PCI)

BASF increases butanediol production capacity


The chemicals group BASF wants to benefit from the growing demand of its customers for the intermediate butanediol (BDO). From the year 2016, the capacity for BDO is expected to rise at BASF's U.S. Geismar/Louisiana site by 10%. The company plans to reach a BDO production capacity of 670,000 tons per year worldwide.
(finanzen.net)

MARUBENI cuts profit estimates due to low oil prices


"I couldn't believe that oil would drop this far", said Marubeni Corp. CEO Fumiya Kokubu. His confession came at a Tokyo press conference, held on JAN 26, where he announced that getting blindsided by oil was a major factor wiping out half of Marubeni's 220 billion yen ($1.9 billion) profit forecast for this year.
Marubeni joins domestic peer Sumitomo Corp. in feeling the pain. In October, Sumitomo wrote down 167 billion yen on losses in shale oil and coal, reporting its first half-year loss since 1998.
(Bloomberg)

OXEA increases potassium formate prices


Oxea increases list and off-list prices on potassium formate, by EUR 80/MT, effective January 1, 2015, or as contracts allow.
(chemeurope.com)

Toluene trends and their effects on polyesters & polyurethanes


Toluene is usually manufactured as a by-product of crude oil processing. The predominant application for toluene is the production of other chemicals: In 2013, about 56% of all the toluene consumed, were converted into benzene and xylene.
Polyurethanes are conquering ever more application areas: Plastics, foams, adhesives, varnishes, or textile fibers. As a result, demand for the intermediate product TDI (toluene-2,4-diisocyanate), manufactured from toluene, rises. Asia-Pacific in particular is seeing a strong expansion of production capacities for this material: In this region, demand for toluene in the production of TDI is projected to increase by more than 4.4% p.a. until 2021.
Consumption of fossil fuels is falling in many established industrialized countries. Operators of refineries in North America and Western Europe are faced with increasing competition of the modern refineries that are put into operation in Asia-Pacific and the Middle East. Possible closures of refineries could lead to a reduction of the supply of the by-product toluene. Producers in industrialized countries in the west are also coming under pressure because output of benzene in the Middle East and in Africa is rising significantly. A large amount of this benzene is exported onto the world market. Consequently, less toluene is converted into benzene in other regions.
(chemeurope.com)

BASF exits biobased acrylic acid collaboration with Novozymes


BASF has decided to exit a biobased acrylic acid partnership with Novozymes and Cargill, Novozymes announced today. Novozymes and Cargill have collaborated on renewable acrylic acid technology since 2008. BASF, the world's biggest producer of acrylic acid via the conventional route of propylene oxidation, joined the collaboration in 2012. The collaboration between Novozymes and Cargill, which they say will continue, is focused on developing microorganisms that can efficiently convert renewable feedstock into 3-hydroxypropionic acid (3HP), one possible precursor of glacial acrylic acid and superabsorbent polymers.
Superabsorbent polymers can soak up large amounts of liquid and are used mainly in baby diapers and other hygiene products. Acrylic acid is also used in adhesive raw materials and coatings. Presently, acrylic acid is produced by the oxidation of propylene derived from the refining of crude oil.
(NOVOZYMES)

ACI 2015: Standards harmonization


Executives at international cleaning products associations say that harmonizing regulatory and sustainability standards in different countries will be a key task in 2015. Association executives also pointed to initiatives individual countries or regions, such as REACH in Europe or education about proper use of cleaning products in Brazil. The executives spoke yesterday at the global issues briefing at ACI's annual conference in Orlando, Florida.
While the further implementation of globally harmonized system (GHS) rules is a priority in many countries, harmonization efforts often extend to bilateral or multilateral agreements outside the GHS framework, as well. In Europe, REACH is crucial. Creating a harmonized and workable implantation of Reach duties for formulators and continued market availability of raw materials is a priority for the International Association for Soaps, Detergents and Maintenance Products (A.I.S.E.).
(Chemical Week)

DuPont Q4 sales drop 5%


E.I. DuPont de Nemours & Co. said on Tuesday net profit for the fourth quarter climbed to $683 million, compared with $185 million, in the same period last year. Total revenue improved to $7.92 billion, up from $784 billion in the same quarter a year ago. However, net sales dropped 5% to $7.38 billion, partly due to negative currency impacts from a stronger dollar.
For 2015, DuPont expects operating earnings of $4 to $4.20 a share, which includes a 60 cent negative impact from the strong dollar.
(FOX)

PRAXAIR earnings fall


Industrial-gas company PRAXAIR Inc. said its earnings dropped as weak macroeconomic conditions, especially in Europe, and the strong dollar pressured fourth-quarter results.
Both sales and revenue missed expectations, leading the Connecticut-based company to post a disappointing outlook for the year. Praxair expects $12-12.4 billion in sales, while analysts had called for $12.81 billion in sales.
CEO Steve Angel says that the company expects modest global growth this year, despite the "challenging global environment", as sales in North America, the company's largest segment by revenue, rose 3% to $1.6 billion. Europe sales dropped by 12%, while South America sales fell 2%, sales in Asia rose 6%.
(Wall Street Journal)

PolyOne releases earnings results


PolyOne reported a revenue of $869.00 million for Q4, compared to the consensus estimate of $890.20 million. PolyOne's revenue was down 5.9% compared to the same quarter last year.
PolyOne Corporation is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
(WKRB)

DOW prevails in AKZO patent suit


A U.S. federal-court judge has cleared Dow Chemical Co. of claims that it infringed upon a 2004 patent by coatings giant AkzoNobel Coatings Inc., ending a years-long lawsuit by AkzoNobel, claiming that the Delaware-based chemical multinational stole Akzo's patented high-temperature method for creating polymer dispersions.
The U.S. District Court judge rejected AkzoNobel's 2012 claim that Dow stole its patented "Extrusion Process" method for creating polymer dispersions. The "Extrusion Process" invention allow the production of novel aqueous fine liquid dispersions of polymers having a melting point close to or above 100°C, and relates to processes for producing aqueous dispersions of finely divided polymer, and for making powders from these dispersions.
(PaintSquare)

HEMPEL adds epoxies for marine & tanks


Hempadur 15600 by HEMPEL is a pure epoxy tank coating resistant to continuous immersion in a range of chemicals
Hempadur 15600 is an IMO PSPC cargo oil tank-compliant coating whose multi-chemical resistance includes crude oil up to 80°C. HEMPEL says the two-coat system reduces application times and offers a wide application window. Unlike tank coatings that require a minimum ambient temperature of 10°C, Hempadur 15600 can be applied at temperatures as low as -5°C.
Designed for fast drying and recoating time, the product is surface dry after two hours and recoatable after four hours at 20°C. The coating incorporates high cross-link density technology on level with a phenolic epoxy coating, which provides chemical and corrosion resistance and a hard, smooth and glossy surface for easy cleaning.
(PaintSquare)

HARDIDE to build U.S. coatings plant


Hardide Coatings, the UK-based manufacturer of an advanced surface coating technology plans to invest $7 million in a new plant in Virginia, U.S, to serve current and new customers in the oil and gas, aerospace, flow control and other advanced engineering markets.
The UK Oxfordshire-based company offers a family of nanostructured tungsten carbide-based coatings that the company calls "highly abrasion-, erosion-, corrosion- and chemical-resistant while also being tough, ductile and impact resistant". The coatings are applied by low-temperature chemical vapor deposition (CVD), making them appropriate for internal surfaces and complex shapes. According to the company, the technology provides "significant advantages" over other hard-facing coating technologies and is "proven to offer dramatic improvements in component life".
(PaintSquare)

LANXESS earnings exceed estimates for 2014


Specialty chemicals company LANXESS expects EBITDA pre exceptionals to be higher than previously anticipated for the fourth quarter and therefore for the fiscal year 2014.
Against EUR 735 million reported in fiscal 2013, EBITDA pre exceptionals for fiscal 2014 is expected to increase to around EUR 808 million. The fourth quarter 2014 result is expected at around EUR 154 million EBITDA pre exceptionals. Basis for the improved earnings was a stronger than originally anticipated demand in December. LANXESS profited from lower raw material costs in the Advanced Intermediates segment. Earnings in the Performance Chemicals segment came in at the expected level.
(LANXESS)

Exhibition & Congress : Middle East Coatings Show 2015


The Middle East Coatings Show is still the only dedicated coatings event in the Middle East and Gulf Region for raw materials suppliers and equipment manufacturers for the coatings industry.
The event provides a unique platform for suppliers to present their products and services and be face-to-face with the most influential decision makers operating within the market in a relaxed and intimate environment. The MECS show will be held at the Dubai International Convention and Exhibition Centre, between MAR 9-11.
(DMG)

(More upcoming events on : andrianos.com/events)


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News are listed from various sources, as quoted above, aggregated by agents ANDRIANOS Chemicals, Athens, Greece.