BP Completes Deal To Strengthen Core Polymers Businesses - Chemical Outlook - Independent industry news, analysis and business information for chemicals makers and users

As result of the deal, BP has added Solvay's global polypropylene business to its existing business and the two companies have combined their high-density polyethylene (HDPE) businesses into two joint ventures. BP has also transferred its non-core engineering polymers business to Solvay.

Completion of the deal followed approval from the European Commission and other regulatory authorities.

The deal makes BP the world's second largest producer of polypropylene. The two HDPE joint ventures - BP Solvay Polyethylene Europe (50 per cent BP, 50 per cent Solvay), led by Robin McGill from BP, and BP Solvay Polyethylene North America (49 per cent BP, 51 per cent Solvay), led by Foster Brown from Solvay - will together also be a leading player in their sector.

"This is a significant step in repositioning and upgrading our chemicals portfolio," said Byron Grote, chief executive of BP's chemicals businesses. "The deal expands BP's worldwide reach in our core petrochemicals businesses, while exiting a non-core business."

He added: "Our priority will now be to fully integrate the polypropylene businesses and operate the HDPE partnership to access maximum synergies from these combinations."

WILMINGTON, Del., Oct. 24 – DuPont today declared a fourth quarter common stock dividend of 35 cents per share, payable Dec. 14 to stockholders of record Nov. 15. This dividend is the same as that paid in the third quarter 2001. This is the 389th consecutive quarterly dividend since the company's first dividend in the fourth quarter of 1904.

ABU DHABI (October 25, 2001) - Borouge, a joint venture company between Abu Dhabi National Oil Company (ADNOC) and Borealis, one of Europe’s largest polyolefin producers, is gearing up for the official operations of its polyethylene plant in Ruwais which has been scheduled for the end of the year.

WAYLAND, Mass--Oct. 24, 2001--Moldflow Corporation, the world leader in process wide solutions for optimizing the design and manufacture of plastic products, today reports results for its first fiscal quarter ended September 29, 2001. Revenue of $8.2 million for the first quarter of fiscal 2002 was down 7% from the corresponding quarter of fiscal 2001.

Hayward, Calif.--Oct. 24, 2001--ATG, Inc., a leading multi-technology Radioactive Waste and Radioactive Mixed Waste treatment services, today announced a change in roles and responsibilities in its management structure. In a five to zero Board decision, the Company accepted the departure of its Vice President of Finance/Chief Financial Officer, Phillip Jordan, who has been with the Company since June 25, 2001.

PHILADELPHIA – Speakers at the Elemica Global Conference 2001 held here this week tackled a number of misconceptions about the connectivity hub and urged attendees to lend their support to the CIDX Chem eStandards, business process standardization and the integration of Elemica with other hubs to create a multi-industry network.

Operational performance improvements and bottom-line cost savings are driving many companies to develop closer ties to their supply chain partners via the Internet and extranets. But according to a new report from Forrester Research, “When to Share Supply Chain Secrets,” the trick is to know what information to share - and when.

KINGSPORT, Tenn.--Oct. 25, 2001---Eastman Chemical Company today announced third-quarter 2001 earnings of $0.55 per diluted share excluding certain nonrecurring items versus $1.05 per diluted share excluding certain nonrecurring items for the same period in 2000. Including certain nonrecurring items, third-quarter 2001 earnings were $0.31 per diluted share.

PITTSBURGH, Oct. 26 -- Calgon Carbon Corporation announced today that it will hold a webcast on Wednesday, October 31 at 11:30 A.M., Eastern Time. Jim Cederna, Calgon Carbon's chairman, president and chief executive officer and Bill Cann, its chief financial officer, will review third quarter earnings.

BANGALORE, India (October 18, 2001) – Eastman Chemical Company has selected a series of Web based technical solution wizards from Wipro Technologies, a provider of IT services and solutions. The wizards are designed to aid Eastman's customers with product selection, product design and other technical support.

JACKSON, Miss.--Oct. 30, 2001--ChemFirst Inc. announces it has acquired the 12.5% minority interest of its TriQuest LP subsidiary formerly held by TriQuest employees. TriQuest is a major supplier and only North American producer of electronic grade resins used in production of 248 nanometer Deep Ultra Violet (DUV) photoresists for semiconductor chip manufacturing. DUV photoresists enable production of today's most advanced chips used in microprocessors, digital signal processors, and other devices for communications and connectivity applications.

KINGSPORT, Tenn. and YPSILANTI, Mich., Oct. 29 -- Furthering its commitment to the advancement of higher education, Eastman Chemical Company today announced its donation of intellectual property covering thermosetting coating compositions to Eastern Michigan University's (EMU) Coating Research Institute. EMU will further develop the technology for commercial application. The patents included in the donation were valued using the Patent & License Exchange, Inc.'s (pl-x) highly acclaimed TRRU® metrics valuation tools. The estimated value of the technology was not disclosed.