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Released October 03, 2014 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Industrial Info is tracking plants and projects that are part of Dow Chemical's (NYSE:DOW) (Midland, Michigan) updated divestment plan. Dow announced late last year that it planned to divest $4.5 billion to $6 billion of non-strategic businesses and assets by 2015. On Thursday, the chemicals giant updated its plans with the announcement it was marketing its Angus Chemical Company, Sodium Borohydride and AgroFresh businesses for divestment, with combined proceeds of more than $2 billion.
Dow said it expected to sign off the divestments by the end of this year, with completion of the transactions in early 2015.
Industrial Info is tracking five Angus Chemical projects, worth $7 million, all involving the company's Sterlington nitroparaffins plant in Louisiana. One of the projects would include capital upgrades for 2015, with a total investment value of $2 million. The upgrades would start in April during a maintenance turnaround, with completion in June. Angus makes nitroalkane-based chemicals for paint and coatings, metalworking fluids, personal care and cosmetics, life science utilities, pharmaceutical intermediates, rubber, leather and agricultural intermediates.
View Project Report - 300183593
Dow's Elma sodium borohydride plant in Washington is slated for maintenance turnarounds in 2015 and 2016, with each valued at $1 million. According to Dow, sodium borohydride is used for the reduction of carbonyls, peroxides and metal ions, as well as purification and removal of color, odor and oxidation precursors in organic chemical products.
View Project Report - 300169342 300128632
Dow also announced Thursday that as part of its plan to streamline its joint ventures, it has signed an agreement with Exxon Mobil (NYSE:XOM) (Irving, Texas) regarding the ownership of Univation Technologies LLC. Univation is currently a 50:50 joint venture between Dow and Exxon Mobil.
"This transaction will result in Univation Technologies becoming a wholly-owned subsidiary of Dow," Dow said in a press statement. Univation licenses UNIPOL polyethylene production technology. It develops, manufactures and sells polyethylene catalysts.
Thirteen chemical plant projects, worth more than $7 billion, include Univation production technology. The technology would be used by a $1.9 billion plant project at the Yulin Chemical Complex in Shanxi, China, to produce coal-derived methanol, as well as polypropylene and polyethylene. Now in the preliminary design stage, the project by Shaanxi Zhongmei Yulin Energy Chemical Industry Company Limited would kick off in the fourth quarter of 2016, with completion in the fourth quarter of 2018.
View Project Report - 300102147
Dow also said it was making progress on its plans to carve out its U.S. Gulf Coast chlor-alkali/chlor-vinyl, global chlorinated organics and epoxy businesses, with signed agreements expected in the second quarter of 2015.
For related information, see December 11, 2013, article - Consolidation of Chlor-Alkali Segment Continues, as Dow Chemical Announces Plans to Divest Globally.
Dow chlor-alkali projects include two maintenance turnarounds at its chlorine unit in Plaquemine, Louisiana, and tank maintenance at its Oyster Creek complex in Freeport, Texas, for a combined value of $33.4 million.
View Project Report - 300129464 300105423
In all, Industrial Info is tracking 68 Dow Chemical projects, worth more than $7 billion.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
Dow said it expected to sign off the divestments by the end of this year, with completion of the transactions in early 2015.
Industrial Info is tracking five Angus Chemical projects, worth $7 million, all involving the company's Sterlington nitroparaffins plant in Louisiana. One of the projects would include capital upgrades for 2015, with a total investment value of $2 million. The upgrades would start in April during a maintenance turnaround, with completion in June. Angus makes nitroalkane-based chemicals for paint and coatings, metalworking fluids, personal care and cosmetics, life science utilities, pharmaceutical intermediates, rubber, leather and agricultural intermediates.
View Project Report - 300183593
Dow's Elma sodium borohydride plant in Washington is slated for maintenance turnarounds in 2015 and 2016, with each valued at $1 million. According to Dow, sodium borohydride is used for the reduction of carbonyls, peroxides and metal ions, as well as purification and removal of color, odor and oxidation precursors in organic chemical products.
View Project Report - 300169342 300128632
Dow also announced Thursday that as part of its plan to streamline its joint ventures, it has signed an agreement with Exxon Mobil (NYSE:XOM) (Irving, Texas) regarding the ownership of Univation Technologies LLC. Univation is currently a 50:50 joint venture between Dow and Exxon Mobil.
"This transaction will result in Univation Technologies becoming a wholly-owned subsidiary of Dow," Dow said in a press statement. Univation licenses UNIPOL polyethylene production technology. It develops, manufactures and sells polyethylene catalysts.
Thirteen chemical plant projects, worth more than $7 billion, include Univation production technology. The technology would be used by a $1.9 billion plant project at the Yulin Chemical Complex in Shanxi, China, to produce coal-derived methanol, as well as polypropylene and polyethylene. Now in the preliminary design stage, the project by Shaanxi Zhongmei Yulin Energy Chemical Industry Company Limited would kick off in the fourth quarter of 2016, with completion in the fourth quarter of 2018.
View Project Report - 300102147
Dow also said it was making progress on its plans to carve out its U.S. Gulf Coast chlor-alkali/chlor-vinyl, global chlorinated organics and epoxy businesses, with signed agreements expected in the second quarter of 2015.
For related information, see December 11, 2013, article - Consolidation of Chlor-Alkali Segment Continues, as Dow Chemical Announces Plans to Divest Globally.
Dow chlor-alkali projects include two maintenance turnarounds at its chlorine unit in Plaquemine, Louisiana, and tank maintenance at its Oyster Creek complex in Freeport, Texas, for a combined value of $33.4 million.
View Project Report - 300129464 300105423
In all, Industrial Info is tracking 68 Dow Chemical projects, worth more than $7 billion.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.
