Asia benzene buoyed by China re-stocking, trade talks optimism

ICIS News | February 19, 2019

Asia's benzene market could be further supported by re-stocking activity in China and optimism over the outcome of ongoing US-China trade talks, amid buoyant crude oil futures. Some players, however, remained cautious as the key downstream styrene monomer (SM) sector will head for a relatively heavy maintenance shutdown from March to May. This would result in more benzene becoming available in the market. With Chinese participants largely back from the Lunar New Year holidays, some replenishment of inventories have sustained the Chinese domestic market. Inventories along eastern China rose to above 210,000 tonnes after the holidays but some participants remained sanguine that demand will soon emerge and slow down the build-up of stocks. Spot prices rose above $600/tonne FOB (free on board) Korea with an April deal concluded at $610/tonne FOB Korea in early week trade.

Spotlight

ZOZEN after-sales service personnel provided maintenance services for a chemical factory Equipment:8200 kw gas fired thermal fluid heater

Spotlight

ZOZEN after-sales service personnel provided maintenance services for a chemical factory Equipment:8200 kw gas fired thermal fluid heater

Related News

Chemical Destruction Plant Eliminates 155mm Mustard Projectiles from Colorado Stockpile

Prnewswire | September 19, 2020

The Pueblo Chemical Agent-Destruction Pilot Plant (PCAPP) team announced the safe and efficient destruction of nearly 300,000 155mm chemical weapons projectiles stored at the U.S. Army Pueblo Chemical Depot in Colorado, marking the end of the plant's first munitions campaign. In 1997, a presidential directive and the ratification of the Chemical Weapons Convention – an international treaty to destroy chemical weapons – called upon all member nations to destroy their chemical weapons and production facilities. Bechtel leads the team contracted to help the United States complete its obligations under this treaty by safely destroying 2,611 tons of mustard agent inside munitions.

Read More

CHEMICAL TECHNOLOGY

Sherwin-Williams to Acquire European Industrial Coatings Business of Sika

SHERWIN-WILLIAMS COMPANY | August 20, 2021

The Sherwin-Williams Company today announced it has signed an agreement to acquire the European industrial coatings business of Sika AG. The transaction is expected to close in the beginning of 2022. Based in Germany with additional sales and technical support in Poland, Austria and Switzerland, Sika's European industrial coating business engineers, manufactures and sells corrosion protection coating systems for high value interior and exterior steel infrastructure, bridges, airport and rail, wind and energy, chemicals, power transmission and stations, interior linings for oil and gas tanks, vessels, and pipework, and water and wastewater applications, along with fire protection coating systems to protect and preserve steel, wood and concrete building components. Sales of the business were approximately CHF 75 million ($82 million) for the year ended December 31, 2020. The acquired business will become part of the Company's Performance Coatings Group operating segment. Approximately 130 Sika employees are expected to join Sherwin-Williams. "This transaction fits our strategy of acquiring complementary, high-quality, differentiated businesses that add to our profitable growth momentum," said Sherwin-Williams Chairman, President and Chief Executive Officer, John G. Morikis. "The business brings us scale, unique technology, a strong sales and marketing team, technical service capabilities, strategically located manufacturing, and leading specification and approval positions, all of which we can leverage further throughout Europe and other regions across the world. Additionally, synergy opportunities give us great confidence in accelerating the already strong financial performance of the business. We look forward to officially welcoming Sika's industrial coating employees to Sherwin-Williams upon the close of the transaction at the beginning of next year." ABOUT THE SHERWIN-WILLIAMS COMPANY Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial, and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,000 Company-operated stores and facilities, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world.

Read More

CHEMICAL MANAGEMENT

ExxonMobil Acquires Materia, Inc., a High-Performance Structural Polymers Company

ExxonMobil | December 08, 2021

ExxonMobil Chemical Company has acquired California-based Materia, Inc., a technology company that has pioneered the development of a Nobel prize-winning technology for manufacturing a new class of materials. The innovative materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings. ExxonMobil and Materia have been collaborating since 2017 on the development of new hydrocarbon-based materials that are stronger, lighter and more durable than existing thermoset products such as epoxy. In the wind power industry, these benefits could enable the design of longer, more durable wind turbine blades for more efficient renewable electricity production. Due to their strength, the materials could also be used as a light-weight, corrosion-resistant replacement for steel in certain construction applications. “We are reimagining how new hydrocarbon-based materials can form the building blocks to help multiple industries achieve a more sustainable future. This acquisition ties together Materia’s Nobel Prize-winning technology with ExxonMobil’s complementary proprietary technology and world-class manufacturing capabilities to bring this exciting new class of structural materials to commercial scale.” Karen McKee, president of ExxonMobil Chemical Company The materials take advantage of revolutionary catalyst discoveries made by professor Dr. Robert Grubbs and his research team at the California Institute of Technology. Grubbs received the 2005 Nobel Prize in Chemistry for these discoveries. “The combination of Materia’s innovative culture, dedicated employees and cutting-edge technology with ExxonMobil’s expertise and scale in bringing new technology to market will open up an exciting new chapter for Materia,” said Professor Robert Grubbs, Nobel Laureate and co-founder of Materia. “ExxonMobil’s acquisition significantly expands the growth opportunities for this unique technology.” The acquisition includes Materia’s headquarters and technology center in Pasadena, California and its manufacturing facility in Huntsville, Texas. ExxonMobil intends to operate the business under the Materia company name as a wholly owned affiliate. About ExxonMobil ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. About Materia Materia was founded in 1999 to commercialize a group of ruthenium catalyst technologies developed by Nobel Prize winner Dr. Robert Grubbs and his research group at Caltech. In recent years the company has focused on developing Proxima™ polymers with commercial success in subsea pipeline insulation, molding of parts for industrial applications, and various composite applications like composite rebar for concrete reinforcement.

Read More