Page 165 - CW E-Magazine (15-10-2024)

News from Abroad

IMPROVING PROFITABILITY
Trinseo announces additional restructuring measure

US-based polymer and chemicals unions regarding the potential closure dissolution-based PC production.
firm, Trinseo, has announced further of its virgin polycarbonate (PC) pro- “These measures are the result of a
restructuring initiatives to improve duction site in Stade, Germany. thoughtful analysis of our portfolio
profitability. Effective October 1, 2024, and industry trends, combined with an
the company is combining the man- The company has now informed understanding of the global competi-
agement of its Engineered Materials, that production at the site would end tive environment.
Plastics Solutions and Polystyrene by January 2025 with severance and
businesses, resulting in a reduction in related benefit payments expected to We believe they will result in a
workforce due to the consolidation of complete by the end of 2026. Once more streamlined organisational struc-
business management roles and support operations have ceased, all the com- ture that will fuel our ability to continue
functions. pany’s PC needs for its downstream to grow strategically, while improving
compounded products will be purchased service to our customers and reducing
In March this year, the company from external suppliers, including its costs,” said Trinseo’s President and
had begun consultations with workers licensees, with the exception of its CEO, Mr. Frank Bozich.

EXIT FROM POLYMERS
Lanxess divests urethane systems business to Japan’s

Ube Corporation

German speciality chemicals com- transformation into a pure-play specia- The urethane systems business
pany, Lanxess, has inked a contract to lity chemicals company, as we are comprises five manufacturing sites
sell its urethane systems business to divesting the last remaining polymer globally as well as application labo-
Japanese chemicals firm, Ube Corpo- business in our portfolio. ratories in the US, Europe and China.
ration. The enterprise value amounts Ube Corporation will take over all
to €460-mn with expected proceeds of At the same time, we are using operations from Lanxess with a total of
around €500-mn. the proceeds from the transaction to around 400 employees. The Urethane
strengthen our balance sheet by further Systems business generated sales of
“The sale of urethane systems reducing our net debt,” said Mr. Matthias around €250-mn in the 12 months period
marks another milestone in our fast Zachert, Chairman of Lanxess. ending June 2024.

ECI Group inks licensing deal for Chinese copolymer

project

Technology and engineering major, ficant petrochemical production facilities ECI Group will provide the tech-
ECI Group, has signed a licensing based in Shaanxi, Northwestern China. nology license, process design package,
agreement with Shaanxi Yanchang expanded process design package, and
China Coal Yulin Energy & Chemical The plant will be located in Yang- detailed design for the high-pressure sys-
Co., Ltd. (YECC) to deliver a 150-ktpa qiaopan, Jingbian County, Yulin City, tem, as well as technical procurement ser-
copolymer plant, using ECI Group’s Shaanxi Province. ECI Group’s tech- vices for the project and on-site technical
proprietary hybrid reactor technology. nology will enable the plant to produce support during installation, start-up, and
150-ktpa of LDPE, EVA, EBA and performance assessment. ECI Group will
YECC is part of the Shaanxi other high-value copolymers, with the be supported by Spain’s Repsol, who will
Yanchang Petroleum Group, China’s ability for future expansion of both provide extensive technical, operational,
fourth largest oil producer with signi- capacity and product capability. and commercial expertise.

Chemical Weekly October 15, 2024 165

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