Industry News (Week of May 14)
May 14, 2007
Cognis Corp., Cincinnati, OH, has announced the recipients of its 2006 Functional Products DOME Awards. The Distributor Operational Measures of Excellence (DOME) Award recognizes outstanding performers within Cognis’ North American distributor network. 2006 DOME Award recipients include Archway Sales (St. Louis), EW Kaufmann (Southampton, PA), NP Group (Houston) and Palmer Holland (North Olmstead, OH).
Dow Epoxy, Midland, MI, has announced Shanghai Chemical Industry Park (SCIP) as the selected site for its world-scale, 150,000-MTPA glycerine-to-epichlorohydrin (GTE) plant and 100,000-MTPA liquid epoxy resins (LER) plant. Both plants are scheduled to start up in the 2009-2010 timeframe.
Dow Polyurethanes, Midland, MI, has announced plans to further invest in Europe by expanding capacity at two of its facilities over the next two years. The company plans to increase name-plate capacity at its polyols plant in Terneuzen, The Netherlands, by 180 kiltons per annum (KTA), and at its propylene glycol (PG) facility in Stade, Germany, by 80 KTA.
Eastman Chemical Co. has announced it has entered into an agreement for the sale of Eastman Chemical Iberia, S.A., located in San Roque, Spain, to La Seda De Barcelona, S.A., located in Barcelona. The sale includes Eastman’s PET polymers manufacturing assets in Spain and the related polyester resins business.
Hexion Specialty Chemicals, Columbus, OH, has reported revenues of $1.31 billion in the fourth quarter of 2006 compared to $1.14 billion during the prior year period, an increase of approximately 15%. In addition, operating income improved 34% to $59 million versus $44 million in the prior year period.