Reduce interruptions Boost productivity.

99% of workers are distracted. This is the reality for more than 5,000 office workers around the world that we surveyed this year. More than a third of them are always or very often distracted. Download our eBook to learn more about what's really distracting your teams and what you can do to help.

Spotlight

ITT Goulds Pumps

ITT Goulds Pumps is a leading global manufacturer of pumps for a wide range of industrial markets—including oil & gas, mining, chemical, power generation, pulp & paper, and general industry. As the first manufacturer to make digital monitoring standard on every process pump, ITT’s Goulds Pumps brand continues to lead the industry in both mechanical pump design and the adoption of smart technologies.

OTHER ARTICLES
Chemical Management

Petrochemical buyers, after a very difficult pandemic, can gain from China-driven deflation

Article | July 8, 2022

BUYERS OF polypropylene (PP) and other polymers and petrochemicals have had an incredibly difficult pandemic. Firstly, the converters and brand owners expected doom and gloom last March. At the time it seemed logical to expect a cratering of demand as the global economy pretty much imploded. Just looking at forecasts for GDP, parallels were drawn with the Global Financial Crisis when collapses in growth led to a cratering of polymers demand. The US is a good example where PP demand declined by 12% in 2008 over 2007. Demand then fell by a further 5% in 2009 over 2008.But what we all missed was the complete dislocation of polymers and petrochemicals demand from GDP. As economies registered historic declines, consumption went up. PP demand went through the roof, firstly for food packaging and hygiene applications.Then consumption for the durable goods made from PP also smashed through the rafters as we bought white goods (PP is used to make components of washing machines), consumer electronics (PP is used to make some electronic components) and carpets (PP fibres are used here).

Read More
Chemical Management

Developing pre-rig solutions that are greener, safer and more efficient

Article | July 14, 2022

MAY 2021 ///Vol 242 No. 5 FEATURES Developing pre-rig solutions that are greener, safer and more efficient There is an increased focus in the oil and gas sector to look further afield to opportunities presented in deepwater locations. Because of this, finding cost-efficient solutions and overcoming the associated challenges that arise below 1,000 ft will be vital for the success of new activity. Jostein Aleksandersen, Neodrill There is an increased focus in the oil and gas sector to look further afield to opportunities presented in deepwater locations. Because of this, finding cost-efficient solutions and overcoming the associated challenges that arise below 1,000 ft will be vital for the success of new activity. All those currently—and those considering—operating in deepwater fields will have an awareness of the general challenges that are presented at such depths. From considerations relating to vast increases in pressure, to the potential for increased drilling time and days spent offshore, there are several hurdles that follow when operating in what are often challenging well environments. In addition, suitable solutions also must support the industry drive to reduce emissions by offering a more carbon-efficient approach.

Read More
Chemical Management

Future-Proofing the Chemical Industry with Digitalization

Article | July 13, 2021

Over the next five to seven years, the chemical sector will place a greater emphasis on sustainability, and digitization will play a significant part in this. Reducing resource use, pollution, energy consumption, and waste are some of its main applications. Additionally, it will increase demand for a circular economy supported by IoT, AI, and other digital technologies. Some of the systems now in place or being used in the sector include autonomous solutions that enable lower energy usage, dispatching systems for effective logistics and strategies for sustainable power and fuel consumption. Chemical players making the switch to digital platforms have a chance to triumph if they move swiftly and update their operational models in accordance with a few common success characteristics. In fact, according to our study, making the correct decisions can increase total earnings before interest, taxes, depreciation, and amortization by 3 percent or more (EBITDA). The Next Step of Operational Excellence The same level of transformation is available with digital technology for optimal performance, together with success-enabling measures. The same level of corporate participation and realignment will also be necessary for the effective implementation of digital technology. Finance and telecoms were early leaders in adopting digital technology faster than the chemical sector, which has just recently started to move in more significant numbers toward digitalization. A circular economy in the sector is also being enabled by the use and evaluation of digital technology. The "Right to Fix" movement is being driven by governments and legislators in Europe and the US, and small and medium-sized businesses in the industry are expected to invest in technology that makes it easier to repair electronic items with the least amount of waste. On a side note, by enabling the re-use of resources and products throughout the supply chain, digitalization with lean manufacturing (LM) would enable businesses to improve operational excellence and create value, thereby supporting the circular economy goal. Conclusion Given its extensive safety and regulatory requirements, the chemical sector has evolved slowly. However, as the global economy changes, some skills will become obsolete and others essential. The interconnectedness of people, processes, and technology, as well as the requirement for real-time insight at the levels closest to the action, are among the basic principles of Industry 4.0. These values have existed for some time and are an extension of our teams' current operational excellence initiatives. Digital transformation is not a technology endpoint but rather the following stage in the process and business evolution as the chemicals industry advances continuously.

Read More
Chemical Management

Petrochemicals markets complexity is only going to grow and grow

Article | May 13, 2021

NICE WORK, if you get can get it. A trucking company in Fort Worth, Texas, is offering to pay experienced drivers $14,000 a week – $728,000 a year – as the US struggles with a nationwide shortage of truckers or lorry drivers. This reminds me of perhaps an apocryphal tale, from the height of the last Australian mining boom. Before iron ore prices collapsed in late 2014, there was a story about workers at mining site road junctions who operated manual “Stop and Go” signs. They were said to be earning more than Australian dollar (A$) 200,000 a year. Before you pack in your job as, say, a petrochemicals sales manager and head to Texas or mine sites in Western Australia, there is the risk that when you arrive at the door of your new prospective employer, the bubble might have already burst. This is assuming we are in bubble conditions.The pressure is clearly building in petrochemicals and other commodity markets as prices in some regions remain at record highs or continue to rise. Today’s prices are the results of shortages of commodities supply (for example in petrochemicals, an outcome of the US winter storms), very strong demand and supply chain disruptions.I am beginning to believe that the latter is the biggest reason for commodity price inflation which is feeding through into sharp rises in the cost of finished goods – and a lack of goods availability. It is delivering and manufacturing enough stuff that seems to be at the heart of today’s problems due to shortages of everything from container freight space and semiconductors to wooden pallets, tin cans, metal drums, cardboard – and US truck drivers.

Read More

Spotlight

ITT Goulds Pumps

ITT Goulds Pumps is a leading global manufacturer of pumps for a wide range of industrial markets—including oil & gas, mining, chemical, power generation, pulp & paper, and general industry. As the first manufacturer to make digital monitoring standard on every process pump, ITT’s Goulds Pumps brand continues to lead the industry in both mechanical pump design and the adoption of smart technologies.

Related News

Chemical Technology, Raw Materials

Sustainability as a Success Factor: OQ Chemicals Launches Biobased Oxbalance TCD Alcohol DM

Businesswire | June 05, 2023

Global chemical company OQ Chemicals has launched Oxbalance TCD Alcohol DM, a sustainable alternative to conventional TCD Alcohol DM (Tricyclodecane Dimethanol). The ISCC PLUS-certified product is made from more than 70% biobased and biocircular feedstocks. OQ Chemicals recently increased its production capacity for TCD Alcohol DM in 2022 and is now expanding the application range for this product with the biobased variant. Due to its special properties, Oxbalance TCD Alcohol DM is suitable for the production of high-performance technical polymers such as polyesters, polycarbonates, and polyurethanes, as well as for use in adhesives, coatings and paints for the food packaging, electronics, and automotive industries. “Our Oxbalance products provide our customers with a sustainable alternative to conventional fully synthetic products. Certified as biomaterials, they fully meet the specifications and qualities of conventional products without requiring a new approval or qualification. With these products that are mass-balanced according to ISCC PLUS, we offer our customers a solution that meets the growing demand for sustainable raw materials and the increasing requirements for complete transparency in the supply chain. Our customers can switch to our biobased Oxbalance products without compromising on performance or quality,” said David Faust, Executive Vice President Oxo Performance Chemicals at OQ Chemicals. Dr. Oliver Borgmeier, CEO of OQ Chemicals, emphasized: “Oxbalance is our new line of biobased Oxo Performance Chemicals. We are proud to offer our customers sustainable alternatives to conventional fully synthetic products - first Oxbalance Isononanoic Acid and now Oxbalance TCD Alcohol DM. We will continue to expand our biobased portfolio. As an industry partner, we are growing together with our customers and developing sustainable solutions for the global market.” The OxBalance product line uses the ISCC PLUS mass balance approach, which tracks renewable raw materials in chemical manufacturing processes and assigns them to the products. OxBalance is a registered trademark of OQ Chemicals. About OQ Chemicals OQ Chemicals (formerly Oxea) is a global manufacturer of Oxo Intermediates and Oxo Performance Chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavors and fragrances, printing inks, and plastics. OQ Chemicals employs more than 1,400 people worldwide and markets its chemicals in more than 60 countries. The company is part of OQ, an integrated energy company originating in Oman. More information is available at chemicals.oq.com.

Read More

Chemical Management

Imperial Petroleum Announces Pricing of Upsized $60 Million Underwritten Public Offering

Imperial Petroleum Inc. | March 21, 2022

Imperial Petroleum Inc. announced the pricing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consists of one common share and one Class B warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $60 million. The Company intends to use the net proceeds of the offering for capital expenditures, including acquisitions of additional vessels which we have not yet identified, and for other general corporate purposes. Each Class B warrant is immediately exercisable for one common share at an exercise price of $1.60 per share and will expire five years from issuance. The offering is expected to close on or about March 23, 2022, subject to customary closing conditions. Maxim Group LLC is acting as sole book-running manager in connection with the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 5,624,950 common shares and/or prefunded warrants and/or 5,624,950 Class B warrants, at the public offering price less underwriting discounts and commissions. The offering is being conducted pursuant to the Company’s registration statement on Form F-1 previously filed with and subsequently declared effective by the Securities and Exchange Commission on March 18, 2022 and an additional registration statement filed pursuant to Rule 462(b), which was filed on March 18, 2022 and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at 895-3745. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. ABOUT IMPERIAL PETROLEUM INC. Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company currently owns three M.R. product tankers and one Aframax oil tanker with a total

Read More

Chemical Management

TRUE VALUE COMPANY ACQUIRES YENKIN-MAJESTIC CONSUMER PAINT BUSINESS

True Value Company | March 15, 2022

True Value Company, one of the world's largest hardlines wholesalers, and The Yenkin-Majestic Paint Corporation, an Ohio-based manufacturer of coatings and coatings resins, announced they have entered into a definitive agreement under which True Value Company will acquire Yenkin-Majestic's consumer paint business, producing architectural coatings for home, agricultural, and specialty applications under the Majic brand name. "The acquisition of the Majic portfolio of products is an excellent strategic fit for True Value. The Majic paint brand deepens our strong portfolio of products, which today includes our flagship EasyCare brand, and enhances our capabilities in the agricultural and other specialty segments of the paint industry. Customers of both companies will benefit from the higher levels of investment that True Value plans to make in research and development, as well as improving supply chain resiliency and customer support." John Vanderpool, Division President, True Value Manufacturing & General Paint Chris Kempa, CEO of True Value Company said, "This acquisition is another example of True Value's commitment to investing in its business, aggressively pursuing growth and ensuring that our retailers have what they need to win in the marketplace." "True Value's focus on quality and service to paint retailers, and their commitment to the associates who power our organizations, mirror our company culture as a family-owned business," said Yenkin-Majestic President and CEO Andrew O. Smith. "True Value has been a respected partner of ours for many years, and we know they will take the Majic product line to new heights. We can think of no finer company to carry forward the legacy of our consumer paint business." He added, "This transaction also allows us to focus our resources and reinvest in our polymers business." About True Value Company True Value Company, headquartered in Chicago, is one of the world's leading hardlines wholesalers with a globally recognized brand and over 70 years of experience serving independent hardware retailers. True Value Company provides its customers in over 60 countries an expansive product set of market-customized assortments at highly competitive prices, superior product availability, innovative marketing programs and a la carte value-added services like eCommerce ship-to-store, store remodel support and True Value University, all within a flexible model that requires no membership. With 13 regional distribution centers, and approximately 2,500 associates serving over 4,500 stores, True Value Company celebrates independence and drives retail excellence across the U.S. and internationally. About Yenkin-Majestic The Yenkin-Majestic Paint Corporation, based in Columbus, OH, is the owner of OPC Polymers, one of North America's leading suppliers of coatings resins. OPC Polymers serves the paint industry through continuous innovation in its broad portfolio of alkyd, copolymer, and specialty resins. This family-owned business began in 1920.

Read More

Chemical Technology, Raw Materials

Sustainability as a Success Factor: OQ Chemicals Launches Biobased Oxbalance TCD Alcohol DM

Businesswire | June 05, 2023

Global chemical company OQ Chemicals has launched Oxbalance TCD Alcohol DM, a sustainable alternative to conventional TCD Alcohol DM (Tricyclodecane Dimethanol). The ISCC PLUS-certified product is made from more than 70% biobased and biocircular feedstocks. OQ Chemicals recently increased its production capacity for TCD Alcohol DM in 2022 and is now expanding the application range for this product with the biobased variant. Due to its special properties, Oxbalance TCD Alcohol DM is suitable for the production of high-performance technical polymers such as polyesters, polycarbonates, and polyurethanes, as well as for use in adhesives, coatings and paints for the food packaging, electronics, and automotive industries. “Our Oxbalance products provide our customers with a sustainable alternative to conventional fully synthetic products. Certified as biomaterials, they fully meet the specifications and qualities of conventional products without requiring a new approval or qualification. With these products that are mass-balanced according to ISCC PLUS, we offer our customers a solution that meets the growing demand for sustainable raw materials and the increasing requirements for complete transparency in the supply chain. Our customers can switch to our biobased Oxbalance products without compromising on performance or quality,” said David Faust, Executive Vice President Oxo Performance Chemicals at OQ Chemicals. Dr. Oliver Borgmeier, CEO of OQ Chemicals, emphasized: “Oxbalance is our new line of biobased Oxo Performance Chemicals. We are proud to offer our customers sustainable alternatives to conventional fully synthetic products - first Oxbalance Isononanoic Acid and now Oxbalance TCD Alcohol DM. We will continue to expand our biobased portfolio. As an industry partner, we are growing together with our customers and developing sustainable solutions for the global market.” The OxBalance product line uses the ISCC PLUS mass balance approach, which tracks renewable raw materials in chemical manufacturing processes and assigns them to the products. OxBalance is a registered trademark of OQ Chemicals. About OQ Chemicals OQ Chemicals (formerly Oxea) is a global manufacturer of Oxo Intermediates and Oxo Performance Chemicals such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These are used to produce high-quality coatings, lubricants, cosmetic and pharmaceutical products, flavors and fragrances, printing inks, and plastics. OQ Chemicals employs more than 1,400 people worldwide and markets its chemicals in more than 60 countries. The company is part of OQ, an integrated energy company originating in Oman. More information is available at chemicals.oq.com.

Read More

Chemical Management

Imperial Petroleum Announces Pricing of Upsized $60 Million Underwritten Public Offering

Imperial Petroleum Inc. | March 21, 2022

Imperial Petroleum Inc. announced the pricing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consists of one common share and one Class B warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $60 million. The Company intends to use the net proceeds of the offering for capital expenditures, including acquisitions of additional vessels which we have not yet identified, and for other general corporate purposes. Each Class B warrant is immediately exercisable for one common share at an exercise price of $1.60 per share and will expire five years from issuance. The offering is expected to close on or about March 23, 2022, subject to customary closing conditions. Maxim Group LLC is acting as sole book-running manager in connection with the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 5,624,950 common shares and/or prefunded warrants and/or 5,624,950 Class B warrants, at the public offering price less underwriting discounts and commissions. The offering is being conducted pursuant to the Company’s registration statement on Form F-1 previously filed with and subsequently declared effective by the Securities and Exchange Commission on March 18, 2022 and an additional registration statement filed pursuant to Rule 462(b), which was filed on March 18, 2022 and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at 895-3745. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. ABOUT IMPERIAL PETROLEUM INC. Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company currently owns three M.R. product tankers and one Aframax oil tanker with a total

Read More

Chemical Management

TRUE VALUE COMPANY ACQUIRES YENKIN-MAJESTIC CONSUMER PAINT BUSINESS

True Value Company | March 15, 2022

True Value Company, one of the world's largest hardlines wholesalers, and The Yenkin-Majestic Paint Corporation, an Ohio-based manufacturer of coatings and coatings resins, announced they have entered into a definitive agreement under which True Value Company will acquire Yenkin-Majestic's consumer paint business, producing architectural coatings for home, agricultural, and specialty applications under the Majic brand name. "The acquisition of the Majic portfolio of products is an excellent strategic fit for True Value. The Majic paint brand deepens our strong portfolio of products, which today includes our flagship EasyCare brand, and enhances our capabilities in the agricultural and other specialty segments of the paint industry. Customers of both companies will benefit from the higher levels of investment that True Value plans to make in research and development, as well as improving supply chain resiliency and customer support." John Vanderpool, Division President, True Value Manufacturing & General Paint Chris Kempa, CEO of True Value Company said, "This acquisition is another example of True Value's commitment to investing in its business, aggressively pursuing growth and ensuring that our retailers have what they need to win in the marketplace." "True Value's focus on quality and service to paint retailers, and their commitment to the associates who power our organizations, mirror our company culture as a family-owned business," said Yenkin-Majestic President and CEO Andrew O. Smith. "True Value has been a respected partner of ours for many years, and we know they will take the Majic product line to new heights. We can think of no finer company to carry forward the legacy of our consumer paint business." He added, "This transaction also allows us to focus our resources and reinvest in our polymers business." About True Value Company True Value Company, headquartered in Chicago, is one of the world's leading hardlines wholesalers with a globally recognized brand and over 70 years of experience serving independent hardware retailers. True Value Company provides its customers in over 60 countries an expansive product set of market-customized assortments at highly competitive prices, superior product availability, innovative marketing programs and a la carte value-added services like eCommerce ship-to-store, store remodel support and True Value University, all within a flexible model that requires no membership. With 13 regional distribution centers, and approximately 2,500 associates serving over 4,500 stores, True Value Company celebrates independence and drives retail excellence across the U.S. and internationally. About Yenkin-Majestic The Yenkin-Majestic Paint Corporation, based in Columbus, OH, is the owner of OPC Polymers, one of North America's leading suppliers of coatings resins. OPC Polymers serves the paint industry through continuous innovation in its broad portfolio of alkyd, copolymer, and specialty resins. This family-owned business began in 1920.

Read More

Events