Petrochemicals
Westlake bids for US chemicals firm Georgia Gulf
Westlake Chemical has submitted an unsolicited proposal to US-based chemicals firm Georgia Gulf to acquire all of the outstanding shares of Georgia Gulf for $30/share in cash. Thus far, Georgia Gulf’s management “has been unwilling to engage in substantive discussions", the company said.
Chevron warns of weakening downstream results
Chevron expects 2011 fourth-quarter downstream earnings to be down significantly from the third quarter amid lower margins and refinery input volumes. In the US, Gulf coast refining margins fell substantially in the fourth quarter compared to the third quarter, the company said.
ADM to end US bioplastics alliance with Metabolix
US-based bioscience firm Metabolix announced Thursday that Archer Daniels Midland (ADM) has given a termination notice for its role in the companies’ Telles joint venture for PHA bioplastics. ADM said projected financial returns from the alliance were too uncertain.
BASF, Sinopec complete second phase of Nanjing petrochemical venture
German chemical company BASF said Tuesday it completed the $1.4 billion second phase of its petrochemical joint venture in Nanjing, BASF-YPC Co., with Sinopec. The second phase included expansions of existing plants and construction of new facilities.
UOP lands phenol technology deal in South Korea
Honeywell’s UOP has been selected by South Korea’s Kumho P&B Chemicals to provide technology to produce key petrochemicals for the manufacture of plastics. The new units, expected to start up in 2013-2014, will produce 900,000 metric tons of cumene and 300,000 metric tons of phenol annually.
AkzoNobel acquires China surfactants firm Boxing
AkzoNobel has completed its acquisition of China’s leading specialty surfactant producer, Boxing Oleochemicals. Based in the province of Shandong, Boxing had revenues of approximately €100 million in 2010.
Technip wins design deal on BP China PTA venture
Technip was awarded a services contract by BP Zhuhai Chemical Co., a joint venture of BP and Zhuhai Port Co., for the front-end design of a new world-scale purified terephthalic acid (PTA) plant at their site in Guangdong Province, China.
LyondellBasell to shut two polypropylene lines in Germany
LyondellBasell will shut down two polypropylene (PP) lines in Wesseling, Germany, by mid-2012, seeking to reduce costs and maintain its competitive position.
KBR awarded construction deal on ExxonMobil lube base stock plant in Texas
KBR said Thursday it was awarded a construction contract for ExxonMobil’s new synthetics lubricant base stock facility to be built at ExxonMobil’s refinery and chemical plant complex in Baytown, Texas. The award came from Technip USA, the prime contractor responsible for EPC on the project.
PPG closes deal for European coatings group Dyrup
PPG Industries has completed its purchase of Denmark-based coatings company Dyrup A/S from its owner, public holding company Monberg & Thorsen. Dyrup, a European producer of architectural coatings and specialty products, had 2010 sales of approximately €190 million ($270 million).
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