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ChExpress

What you want to know....fast.

christa.jpg (5628 bytes) Chemical Industry News Editor Christa Semko
Every two weeks, Christa will bring you the latest chemical industry news from around the world.  If you have a press release that you'd like to share with us, please mail it to us through our online contact form here.

Dateline: March 4, 2010

News
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North America

Division Sale

Dow Chemical has sold its Styron plastics division to Bain Capital for $1.63 billion. For Dow, the deal is a further unloading of debt. Dow put the division up for sale in July and the companies are expecting to the deal to close by August, pending regulatory approvals and closing conditions. Styron has about 1,900 employees and its products are sold in the automotive, appliance, electronics, tire and packaging industries.

 

Production Restarted

DuPont is restarting its idled chemical plant in Belle, West Virginia. The company halted operations last month after a series of leaks, including one that led to the death of a worker. A company spokesman said that most units that werenít involved in the leaks have been restarted and that the company plans to continue starting operations in stages. Investigators from the U.S. Chemical Safety Board, Occupational Safety and Health Administration, State Department of Environmental Protection and U.S. Environmental Protection Agency are inspecting equipment and reviewing operating procedures.

Acquisition

Solutia Inc. will buy a subsidiary of Etimex Holding GmbH for $327 million in cash. The unit being purchased makes materials used in solar power products. The acquisition is expected to close in the second quarter.


World

Acquisition

KMG Chemicals Inc. is spending approximately $24.7 million to buy General Chemical Performance Products LLC. The deal will close after the necessary operating permits and consents are obtained. It is expected that the deal will close before the end of March.

 

Plant Completion

Huntsman Corp. and Zamil Group Holding Co. have completed their new ethyleneamines joint venture plant located in Jubail, Saudi Arabia. The 27,000 ton/year plant is currently undergoing commissioning and will commence deliveries in April. It will be operated by Arabian Amines Company, which is the Huntsman/Zamil Group 50-50 joint venture company established to deliver this project. The plant will produce ethylenediamine, diethylenetriamine, triethylenetetramine and TEPA, E-100, AEP and piperazine.

 

Petrochemical Plant

STX Heavy Industries Co. has signed a memorandum of understanding with the Iraqi government to build a petrochemical plant for $3.2 billion in Basra, Iraq. STX Heavy will complete the engineering, procurement and construction, with an aim to start production in 2014.

 

Catalyst Plant

Poyry has been awarded a contract for developing a basic engineering package and supplying related services for Borealis AGís semi-commercial catalyst plant in Linz. Austria. While the contract value was not disclosed, the total investment cost for the whole plant is approximately EUR 75 million. The services will be completed by the end of July 2010.

 

Acquisition

RPM International Inc.ís Rust-Oleum Corp. subsidiary has acquired Chemtec Chemicals BV, a manufacturer of industrial cleaners and specialty coatings based in The Netherlands. Terms of the deal were not disclosed. Chemtecís primary products are specialty cleaners used for a range of exterior surfaces, and it also offers specialty, anti-slip and anti-graffiti coatings.   

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