Grace Catalysts Technologies reports 2Q 2017 results

Grace Catalysts Technologies reports 2Q 2017 results

FOCUS Resources sales soared by 19%. In Plastics & Coatings, sales grew by 4% with continuing strong sales expansion in Additives as well as in China...

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FOCUS Resources sales soared by 19%. In Plastics & Coatings, sales grew by 4% with continuing strong sales expansion in Additives as well as in China. EBITDA before exceptional items increased by 9% in Swiss francs and reached SFR 482 M, compared to SFR 444 M in 1H 2016. Net income soared by 20% in Swiss francs to SFR 153 M from SFR 128 M in 1H 2016. Operating cash flow decreased to SFR 116 M against a strong comparable base of SFR 208 M in 1H 2016. Net debt increased slightly to SFR 1.584 bn from SFR 1.540 bn recorded at year-end 2016.

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service period, in addition to producing high-cetane diesel, the plant will also produce water and electricity, both of which have significant economic and environmental value. GIE’s breakthrough, patented, gas-to-liquid system allows for scalable plants to be deployed at geographically diverse locations to harvest and monetize natural gas profitably.

Original Source: Greenway Innovative Energy Inc, 2017. Found on Marketwired, 25 Jul 2017, (Website: http://www.marketwired.com).

Original Source: Clariant, 27 Jul 2017, (Website: http://www.clariant.com) ã Clariant 2017.

Grace Catalysts Technologies reports 2Q 2017 results

Avantium launches successful IPO

WR Grace & Co’s Catalysts Technologies segment, which includes catalysts and additives for refinery, plastics and other chemical process applications, as well as polypropylene process technology, has announced 2Q 2017 sales of $320.5 M. This is an increase of 15% compared with 2Q 2016. Gross margin was 40.4% compared with 46.2% in 2Q 2016, a decrease of 580 basis points. Operating income of $101.3 M increased 16% compared with 2Q 2016. Operating margin was 31.6%, an increase of 20 basis points compared with 2Q 2016. Income from business interruption insurance in the second quarter was $10.6 M. The ART joint venture contributed $6.1 M to operating income compared with $2.6 M in 2Q 2016.

Through its initial public offering (IPO), Avantium BV has raised s103 M by selling 9,401,793 shares at s11/share. The company gained a market capitalization of s277 M. The firm expects to use EYR 6575 M of the net proceeds to finance the development of the reference facility of the joint venture Synvina for the commercialization of the YXY technology. The plant is the firm’s first world-scale facility, which will have a 50,000 tonnes/y FDCA manufacturing unit in Antwerp, Belgium. The project is part of a joint venture with BASF. The remaining money will be intended for the construction of pilot plants for the Mekong and Zambezi renewable chemicals projects of the firm, as well as its general corporate purposes. Sofinnova Capital VI is the main shareholder of Synvina.

Original Source: Chemical Fibers International, Jun 2017, 67 (2), 88 (Website: http://www. chemical-fibers.com/) ã Deutscher Fachverlag GmbH 2017.

Greenway Innovative Energy in discussions for first commercial GTL plant Greenway Innovative Energy Inc (GIE), a wholly-owned subsidiary of Greenway Technologies Inc, has announced that it is in discussions with several oil and gas companies regarding joint venture project funding for its first gas-to-liquid (GTL) plant using its proven, proprietary technology. Following the successful GTL test at the Conrad Greer Laboratory at the University of Texas Arlington (UTA), the company is now in talks to establish the necessary business agreements to commission a GTL plant that will produce between 125 and 500 barrels/d of fuel. The joint venture project arrangement is expected to provide the company with funding at a level of between $20 M and $50 M with an ongoing profit sharing arrangement. The plant specification is for at least a 20-year continuous operation at a brownfield site to which GIE has obtained contractual rights and which offers an economically attractive supply of methane. Over the 20-year

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Original Source: W. R. Grace & Co – Conn., 27 Jul 2017, (Website: http://www.grace.com) ã WR Grace & Co - Conn 2017.

Canada Kuwait Petrochemical Corp chooses Honeywell technology for new complex in Alberta Honeywell announced that Canada Kuwait Petrochemical Corp (CKPC) has chosen Honeywell UOP’s C3 Oleflex technology to produce 550,000 tonnes/y of polymer-grade propylene at CKPC’s proposed facility in Sturgeon County near Edmonton, AB, CA. CKPC is a joint venture of Pembina Pipeline Corporation of Canada and Petrochemical Industries Company KSC of Kuwait. Honeywell also will provide the process design package, proprietary and nonproprietary equipment, on-site operator training, technical services for startup and continuing operation, and key catalysts and adsorbents for the project. CKPC’s proposed new facility is slated to consume 22,000 barrels/d of propane from Pembina Pipeline Corporation’s Redwater fractionation complex and other regional facilities, and to produce more than 1.2 bn lbs/y of polypropylene for customers throughout North American and the world. CKPC is in the front-end engineering design (FEED) phase of developing a world-scale integrated propane dehydrogenation and polypropylene upgrading facility. The project being developed by CKPC remains subject to a positive final investment decision from each

partner of the joint venture, as well as regulatory and environmental approvals.

Original Source: Eurasian Chemical Market, 13 Jul 2017, (Website: http://www.chemmarket. info/en/) ã Eurasian Chemical Market 20052017.

Rennovia enters piloting stage of bio-based 1,6-HDO process US-based Rennovia Inc has successfully started the pilot plant operations for its sugars to 1,6-hexanediol (1,6-HDO) process. The world’s market value of 1,6-HDO exceeds $20 bn, which includes adipic acid (AA), caprolactam and hexamethylenediamine (HMD). Rennovia uses its proprietary catalyst technology for the new manufacturing method. The technology is forecast to offer 1,6-HDO with drop-in performance properties. By end2017, the key pilot activities and the development of a 1,6-HDO commercial design package are expected to be finished. Rennovia is talking with several potential strategic partners to support the selling of 1,6-HDO and downstream products.

Original Source: Chemical Fibers International, Jun 2017, 67 (2), 88 (Website: http://www. chemical-fibers.com/) ã Deutscher Fachverlag GmbH 2017.

Tosoh Specialty Group reports on 1Q consolidated results for fiscal 2018 For Tosoh Corporation’s Specialty Group, net sales in 1Q FY 2018 edged upward Yen 1.3 bn, or 3.0%, to Yen 44.5 bn ($400.6 M). But the group’s operating income edged downward 1.3%, or Yen 116.0 M, to Yen 9.2 bn ($82.8 M), compared with 1Q FY 2017. Ethyleneamine shipments to China and Asia declined. By contrast, shipments of separation-related packing materials for liquid chromatography increased, primarily to Europe. Diagnostic-related product shipments also rose, especially of in vitro diagnostic reagents. Shipments of high-silica zeolites (HSZ) for application in petrochemical catalysts declined. But shipments of zirconia for dental and decorative applications increased, as did shipments of quartz glass for semiconductor devices.

Original Source: Tosoh, 1 Aug 2017, (Website: http://www.tosoh.com/) ã Tosoh Corporation 2017.

ADNOC and Borealis sign agreement to extend and expand joint petrochemical activities in Ruwais On 16 Jul 2017, the Abu Dhabi National Oil Company (ADNOC) and Borealis signed a framework agreement, under which the companies will advance two key projects that will expand both ADNOC and Borealis

September 2017