Ready to proof — CLJ 6/22/22

Proofed by KP 6-22-22


Perstorp Converts Majority of Base Polyols to Pro-Environment Products

PERSTORP, Sweden – Perstorp announced that the company is converting a large majority of the polyols produced at its production plant in Perstorp, Sweden, to Pro-Environment products.

Perstorp is converting all base polyols produced at the Perstorp plant — pentaerythritol (penta), neopentyl glycol (neo) and trimethylolpropane (TMP) — to Pro-Environment. From 2023, all fossil versions of the base polyols produced at the Perstorp plant will be replaced by Pro-Environment grades (Voxtar™, Evyrone™ and Neeture™) with partly renewable or recycled origin, based on a traceable mass-balance concept.

The Pro-Environment products are certified with ISCC PLUS, and Perstorp reports that they are identical to the fossil-based versions, meaning that they are drop-in replacements. The products benefit customers and the value chain by reducing greenhouse gas emissions and by supporting the transition to renewable or recycled materials.

“Phasing out the fossil base polyols produced at the site in Perstorp is a bold move, but we are convinced that this is the only way forward for us, as an industry, to align with the Paris Agreement and significantly reduce greenhouse gas emissions,” said Jan Secher, CEO of Perstorp Group. “As an upstream company in the chemical industry we can, and should, make a positive impact across multiple value-chains by offering products with a reduced carbon footprint.”

In 2017, Perstorp announced the long-term ambition to become finite material neutral. Since late 2021, the company has set science-based emission reduction targets aligned with the Paris Agreement. The company reports that the transition to Pro-Environment polyols will significantly reduce Perstorp’s usage of finite materials, and will also provide the market with products with a lower carbon footprint, contributing towards Perstorp and its customers reaching their Scope 3 reduction targets.

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Perstorp’s production site in Perstorp, Sweden. Photo couresty of Perstorp.

AkzoNobel Acquires Kansai Paint’s Business in Africa

AMSTERDAM — AkzoNobel is further strengthening its African footprint after reaching an agreement with Kansai Paint to acquire its paints and coatings activities in the region. Completion, which is subject to regulatory approvals, is expected during the course of 2023.

“Acquiring Kansai Paint’s activities in the region will help us to further expand our paints and coatings business in Africa and provide a strong platform for future growth,” said AkzoNobel CEO, Thierry Vanlancker. “Kansai Paint shares our commitment to innovation and sustainability, and we look forward to combining our expertise, which will result in a wider range of innovative products and more sustainable solutions for our customers.”

Commenting on the deal, Jan-Piet van Kesteren, Managing Director of AkzoNobel’s Decorative Paints Europe, Middle East and Africa business, said, “Kansai Paint Africa is a beautiful addition to our existing strong business which spans across nine countries in the region. The acquisition will complement our portfolio of leading positions in attractive markets and world class brands in Africa, while driving growth in relevant emerging markets. It also offers us the unique opportunity to welcome another strong brand with a heritage of more than 100 years and a wide distribution network.”

Present in 12 countries in Africa, Kansai Paint has regional consolidated revenue of around €280 million. The transaction includes the Plascon brand, which has more than 100 years of heritage in South Africa. Together with AkzoNobel’s Dulux brand, they are reported to be the longest-established paint brands in the region. The intended acquisition also includes automotive and protective coatings, and coatings for wood and coil.

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Photo: skodonnell, iStock/Getty Images Plus, via Getty Images

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LANXESS and Advent International Announce Joint Venture

COLOGNE, Germany – Specialty chemicals company LANXESS and private equity investor Advent International (Advent) are establishing a joint venture for high-performance engineering polymers. The two companies signed an agreement to acquire the DSM Engineering Materials business (DEM) from Dutch group Royal DSM, which will become part of the new joint venture. DEM is reportedly one of the leading global suppliers in high-performance specialty materials that address key market needs in electronics, electrical and consumer goods. The transaction is still subject to approval by the authorities. Closing is expected in the first half of 2023.

LANXESS will contribute its High Performance Materials (HPM) business unit to the joint venture. Photo courtesy of LANXESS.

In addition, LANXESS will contribute its High Performance Materials (HPM) business unit to the joint venture. LANXESS reports that HPM is one of the leading suppliers of high-performance polymers, which are used primarily in the automotive industry. The business represents annual sales of around €1.5 billion with EBITDA pre-exceptionals of around €210 million. Advent will hold at least 60% in the joint venture. LANXESS will receive an initial payment of at least €1.1 billion and a stake of up to 40% in the future joint venture. LANXESS reports that the move further sharpens the company’s business portfolio, which will consist of three specialty chemicals segments once the transaction is completed.

LANXESS CEO Matthias Zachert said, “LANXESS will once again become significantly less dependent on economic fluctuations. In addition, we as LANXESS will strengthen our balance sheet with the proceeds from the transaction and gain new scope for the further development of our Group. With the new joint venture, we are forging a strong global player in the field of high-performance polymers. The portfolios, value chains and global positioning of the two businesses complement each other perfectly. With its innovative products, the joint venture will be able to play a key role in shaping future developments — for example in the field of electromobility. In Advent, we have a strong and reliable partner with profound experience in the chemical industry and our customer industries.”

Ronald Ayles, Managing Partner at Advent International, said, “Joining forces with LANXESS in this industry-transforming transaction is a highlight for Advent as we have built a trusted, long-standing relationship and share the highest mutual respect. Together we plan to bring the experience, deep sector know-how, and financial resources to make the joint venture a global success story for everyone involved. The combination of LANXESS’ High Performance Materials (HPM) and DSM Engineering Materials (DEM) creates a strong platform and brings together extensive expertise, resulting in the best opportunities for employees and more value for customers.”

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Quiminutri Renamed IGM Resins do Brasil  

WAALWIJK, The Netherlands – Quiminutri Especialidades Químicas, a subsidiary of the IGM Resins Group, has a new name: IGM Resins do Brasil. In June, the company began celebrations for the launch of the new brand and the new structure in Brazil. The rebranding follows the transformation of the IGM Resins Group and aims to further strengthen IGM Resins’ brand in South America. Along with the rebranding, several other aspects, such as company purpose, global strategy and a cultural agenda are essential parts of the transformation. According to IGM, the change is an important step towards unification and consolidation of the IGM Resins brand.

Mauricio Locatelli, founder of Quiminutri and Regional President of IGM Resins do Brasil, said, “This moment was eagerly awaited by me, because throughout these 18 years, since its foundation in 2004, our company with the support of each of our employees, customers and partners was able to grow and consolidate itself as a regional leader in the energy curing market. It is a new cycle loaded with new pillars and purpose. It is with great pride and satisfaction that we can now say: WeAreIGM — Individually Unique, Together Complete.”

The business also announced a new IGM Resins building, which is located in the countryside of São Paulo state in the city of Valinhos. Fully accommodating this stage of IGM’s transformation, the new building has offices with collaborative spaces, a new warehouse with triple the storage capacity, and modernization of logistic operations. IGM also reported that it will soon announce information about a new Development & Application laboratory.

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Image courtesy of IGM Resins Group.

Peninsula Polymers Announces Distribution Agreement with Arkema

LEAWOOD, KS – Peninsula Polymers recently announced expanded recognition with Arkema Rheology & Specialty Additives (Coatex) for waterborne systems. In an agreement that became effective July 1, 2022, Peninsula now has distribution rights throughout the United States for the coatings, adhesives and sealants, and elastomers (CASE) markets.

Peninsula Polymers has worked closely with Arkema Rheology & Specialty Additives (Coatex) since 2019. “As a team we have worked hard to solidify our relationship with Arkema and deliver value to the market,” said Ken Menzel, Director of Marketing/Supplier Relations. “We are positioned well to flourish with this new recognition and will be proactive to ensure a smooth transition for our mutual customers. We do not take national distribution rights lightly and are excited to demonstrate to Arkema that they have chosen the right partner.”

“Over the past four years, Peninsula’s efforts with our customers have been exemplary, and we are happy to announce this national relationship into the CASE markets,” said Eric Kaiser, Regional President — North America, Arkema Rheology & Specialty Additives. “We know Peninsula will continue to serve us and our mutual customers well through this transition.”

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Photo: ipopba, iStock/Getty Images Plus, via Getty Images

INEOS Initiates Plans for Acetic Acid Plant on Gulf Coast

LONDON – INEOS Acetyls has started a feasibility study into a world-scale acetic acid and derivatives plant on the Gulf Coast. The company reports that it is currently reviewing several locations for the facility.

INEOS also announced that as part of a strategic review, it will not proceed at present with the previously announced VAM plant in the UK. The company pointed to the volatile and uncompetitive energy costs outlook as a reason for the decision.

David Brooks, CEO INEOS Acetyls, said, “The Gulf Coast is a location well known to the INEOS group where we already have a significant presence. With its abundance of competitively priced feedstocks, the area offers a competitive advantage to support the continued global growth and customer demand for Acetyl products.”

The final decision on the investment is expected before the end of 2023. The project will be underpinned by INEOS proprietary technology and will take advantage of the latest carbon-efficient processes.

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Image courtesy of INEOS Acetyls.