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Albemarle reports 3Q 2015 earnings of $65.4 M: refining solutions
FOCUS created by processing Ensyn's renewable crude (RFO), a liquid cellulosic feedstock for refiners, with customary petroleum feedstocks in conventional petroleum refineries (RFO Coprocessing). Ensyn is developing and commercializing RFO Coprocessing in a strategic alliance with Honeywell UOP, a global leader in technology solutions for the refining industry. Ensyn's RFO is produced by processing non-food solid biomass, including wood residues, with Ensyn's RTP technology. Technology licensing, engineering services and supply of equipment is being provided to RTP projects by Honeywell UOP through Envergent Technologies, a joint venture between Honeywell UOP and Ensyn. Original Source: Ensyn Corporation. Found on Marketwired, 24 Nov 2015, (Website: http:// www.marketwired.com) © Ensyn Corporation, 2015.
Half year results of Johnson Matthey ended 30 Sep 2015 During Mar-Sep 2015, Johnson Matthey's sales were up 5% and underlying PBT was 4% lower. Emission Control Technologies (ECT) and New Businesses experienced strong growth and good progress while Process Technologies (PT) and Precious Metal Products faced challenging conditions. Actions are being taken to reduce costs since 30 Sep 2015, mainly in PT. The company expects approximately £30 M pa cost savings starting in 4Q 2015. The underlying EPS is down 3%. Profit before tax (PBT) was £330.2 M whereas EPS was 137.9 pence due to profit of £130.9 M on sale of Research Chemicals. Working capital improved by £386 M and cash flow conversion was 71%. Interim dividend was up 5% to 19.5 pence. Special dividend was 150.0 pence (£305 M) following sale of businesses. The Emission Control Technologies exhibited strong performance with its sales up 8% and underlying operating profit up 16%. There was strong growth in Europe driven by tighter legislation (Euro 6 b) to control emissions of oxides of nitrogen (NOx) in diesel cars. Asian light duty markets also had good sales growth. North America had continued strong heavy duty diesel truck catalyst sales in, well ahead of growth in production, supported by good demand for large (Class 8) trucks. Sales of Process Technologies was broadly flat but underlying operating profit is 28% lower. There was good sales to catalyst customers in the Chemicals businesses but a less favourable catalyst product
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mix and a reduction in licensing activity both weighed on performance. Oil and Gas catalyst sales were ahead while the slowdown in upstream oil and gas markets significantly impacted performance in Diagnostic Services. Meanwhile, sales of Precious Metal Products fell by 15% and underlying operating profit was 31% lower. Performance in Platinum group metal (PGM) Refining and Recycling significantly impacted as a result of a decline of over 20% in average pgm prices. Excluding Gold and Silver Refining business, sales were down 6% and operating profit was 25% lower. Fine Chemicals registered 3% sales drop as the underlying operating profit was 8% lower. There was good demand for catalysts, chiral technologies and custom services offset by lower sales of active pharmaceutical ingredients (APIs). Performance was adversely impacted by safety shutdown in the US. Sale of Research Chemicals business reached £255 M completed 30 Sep 2015. On the other hand New Businesses witnessed good progress as sales more than doubled to £72 M. Excluding £30 M contribution from acquisitions, division's sales were 27% ahead. There was good growth in Battery Technologies, supported by contribution from two recent acquisitions. Moreover, the Division's underlying operating loss was reduced. Original Source: Johnson Matthey 19 Nov 2015, (Website: http://www.matthey.com) © Johnson Matthey plc 2015.
REG purchases KiOR assets
establish a national research centre focused on tackling important energy and chemistry issues associated with the growing depletion of the finite supply of raw materials. Along with BASF, Shell, the Ministry of Economic Affairs, Top Sector Chemistry, the Netherlands Organization for Scientific Research (NWO), Utrecht University, the Eindhoven University of Technology and Groningen University, the intention is to combine the group's knowledge and expertise to find ways to sustainably meet demand for energy and materials in the future. Known as the Advanced Research Centre Chemical Building Blocks Consortium (ARC CBBC), a total of €11 M/y will be invested by the partners, while up to 100 jobs are also expected to be created. Original Source: AkzoNobel. Found on SpecialChem Cosmetics and Personal Care Innovation and Solutions, 9 Dec 2015, (Website: http://www.specialchem4cosmetics. com) © AkzoNobel, 2015.
Versalis, KBR enter cooperation agreement to license EB/SM production technologies Eni's Versalis and KBR have entered into a cooperation agreement for KBR to license Versalis' proprietary ethylbenzene and styrene monomer (EB/SM) technologies. The companies will offer competitive and flexible EB/SM production technologies using Versalis' zeolite-based catalysts and expert design capabilities. KBR will provide engineering support to deliver the license packages to clients.
A Mississippi court has approved REG Synthetic Fuels LLC's acquisition of equipment from the insolvent KiOR plant in Columbus. The plant has a capacity to produce 15 M gal/y of woody biomassbased cellulosic diesel and gasoline. For the assets, the company paid $1.5 M along with additional costs to prepare the equipment, including a 12 M gal hydrotreating unit. The equipment will be transferred and used for future advanced biofuel projects. REG Synthetic Fuels is a subsidiary of Renewable Energy Group (REG).
Original Source: PetroChemical News, 9 Nov 2015, 53 (43), 1 (Website: http://www. petrochemical-news.com) © William F. Bland Co.ANB2015.
Original Source: Oils and Fats International, Nov-Dec 2015, 31 (8), 39 (Website: http:// www.oilsandfatsinternational.com) © Quartz Business Media Ltd 2015.
Original Source: Albemarle. Found on SpecialChem Coatings and Inks Formulation, 16 Nov 2015, (Website: http://www. specialchem4coatings.com) © Albemarle, 2015.
Dutch consortium plans to establish research centre to meet chemical supply chain challenges
BASF in Asia Pacific
AkzoNobel is part of a major Dutch consortium that has announced plans to
Albemarle reports 3Q 2015 earnings of $65.4 M: refining solutions For Albemarle's refining solutions segment, net sales were $185.1 M in 3Q 2015, a decrease of 15.5% from net sales of $219.0 M in 3Q 2014. Adjusted EBITDA was $54.5 M, a decrease of 11.6% from 3Q 2014 results of $61.7 M.
BASF has broken ground the second phase of the €90 M expansion project at its Greater China head office in Pudong, Shanghai, China. Expansion of the January 2016
Half year results of Johnson Matthey ended 30 Sep 2015 During Mar-Sep 2015, Johnson Matthey's sales were up 5% and underlying PBT was 4% lower. Emission Control Technologies (ECT) and New Businesses experienced strong growth and good progress while Process Technologies (PT) and Precious Metal Products faced challenging conditions. Actions are being taken to reduce costs since 30 Sep 2015, mainly in PT. The company expects approximately £30 M pa cost savings starting in 4Q 2015. The underlying EPS is down 3%. Profit before tax (PBT) was £330.2 M whereas EPS was 137.9 pence due to profit of £130.9 M on sale of Research Chemicals. Working capital improved by £386 M and cash flow conversion was 71%. Interim dividend was up 5% to 19.5 pence. Special dividend was 150.0 pence (£305 M) following sale of businesses. The Emission Control Technologies exhibited strong performance with its sales up 8% and underlying operating profit up 16%. There was strong growth in Europe driven by tighter legislation (Euro 6 b) to control emissions of oxides of nitrogen (NOx) in diesel cars. Asian light duty markets also had good sales growth. North America had continued strong heavy duty diesel truck catalyst sales in, well ahead of growth in production, supported by good demand for large (Class 8) trucks. Sales of Process Technologies was broadly flat but underlying operating profit is 28% lower. There was good sales to catalyst customers in the Chemicals businesses but a less favourable catalyst product
4
ON
C ATA LY S T S
mix and a reduction in licensing activity both weighed on performance. Oil and Gas catalyst sales were ahead while the slowdown in upstream oil and gas markets significantly impacted performance in Diagnostic Services. Meanwhile, sales of Precious Metal Products fell by 15% and underlying operating profit was 31% lower. Performance in Platinum group metal (PGM) Refining and Recycling significantly impacted as a result of a decline of over 20% in average pgm prices. Excluding Gold and Silver Refining business, sales were down 6% and operating profit was 25% lower. Fine Chemicals registered 3% sales drop as the underlying operating profit was 8% lower. There was good demand for catalysts, chiral technologies and custom services offset by lower sales of active pharmaceutical ingredients (APIs). Performance was adversely impacted by safety shutdown in the US. Sale of Research Chemicals business reached £255 M completed 30 Sep 2015. On the other hand New Businesses witnessed good progress as sales more than doubled to £72 M. Excluding £30 M contribution from acquisitions, division's sales were 27% ahead. There was good growth in Battery Technologies, supported by contribution from two recent acquisitions. Moreover, the Division's underlying operating loss was reduced. Original Source: Johnson Matthey 19 Nov 2015, (Website: http://www.matthey.com) © Johnson Matthey plc 2015.
REG purchases KiOR assets
establish a national research centre focused on tackling important energy and chemistry issues associated with the growing depletion of the finite supply of raw materials. Along with BASF, Shell, the Ministry of Economic Affairs, Top Sector Chemistry, the Netherlands Organization for Scientific Research (NWO), Utrecht University, the Eindhoven University of Technology and Groningen University, the intention is to combine the group's knowledge and expertise to find ways to sustainably meet demand for energy and materials in the future. Known as the Advanced Research Centre Chemical Building Blocks Consortium (ARC CBBC), a total of €11 M/y will be invested by the partners, while up to 100 jobs are also expected to be created. Original Source: AkzoNobel. Found on SpecialChem Cosmetics and Personal Care Innovation and Solutions, 9 Dec 2015, (Website: http://www.specialchem4cosmetics. com) © AkzoNobel, 2015.
Versalis, KBR enter cooperation agreement to license EB/SM production technologies Eni's Versalis and KBR have entered into a cooperation agreement for KBR to license Versalis' proprietary ethylbenzene and styrene monomer (EB/SM) technologies. The companies will offer competitive and flexible EB/SM production technologies using Versalis' zeolite-based catalysts and expert design capabilities. KBR will provide engineering support to deliver the license packages to clients.
A Mississippi court has approved REG Synthetic Fuels LLC's acquisition of equipment from the insolvent KiOR plant in Columbus. The plant has a capacity to produce 15 M gal/y of woody biomassbased cellulosic diesel and gasoline. For the assets, the company paid $1.5 M along with additional costs to prepare the equipment, including a 12 M gal hydrotreating unit. The equipment will be transferred and used for future advanced biofuel projects. REG Synthetic Fuels is a subsidiary of Renewable Energy Group (REG).
Original Source: PetroChemical News, 9 Nov 2015, 53 (43), 1 (Website: http://www. petrochemical-news.com) © William F. Bland Co.ANB2015.
Original Source: Oils and Fats International, Nov-Dec 2015, 31 (8), 39 (Website: http:// www.oilsandfatsinternational.com) © Quartz Business Media Ltd 2015.
Original Source: Albemarle. Found on SpecialChem Coatings and Inks Formulation, 16 Nov 2015, (Website: http://www. specialchem4coatings.com) © Albemarle, 2015.
Dutch consortium plans to establish research centre to meet chemical supply chain challenges
BASF in Asia Pacific
AkzoNobel is part of a major Dutch consortium that has announced plans to
Albemarle reports 3Q 2015 earnings of $65.4 M: refining solutions For Albemarle's refining solutions segment, net sales were $185.1 M in 3Q 2015, a decrease of 15.5% from net sales of $219.0 M in 3Q 2014. Adjusted EBITDA was $54.5 M, a decrease of 11.6% from 3Q 2014 results of $61.7 M.
BASF has broken ground the second phase of the €90 M expansion project at its Greater China head office in Pudong, Shanghai, China. Expansion of the January 2016