 |
 |
[Taipei] TSRC, CPC and Fubon completed joint venture negotiations and signed the agreement on November 08 to invest NTD 8.6 billion to form the company; Taiwan Advanced Materials Corporation to build a C5 separation plant with annual capacity of 150 KTA; a styrene-isoprene-styrene block copolymer (SIS) plant of 30 KTA; and a tackifier plant of 20 KTA. The project will be funded 49% by CPC, 48 % by TSRC and 3% by Fubon. The plants are expected to be operational in 2 years and will generate estimated revenue of NTD 5.6 billion.
[Taipei] TSRC Corporation (“TSRC”, 2103 TT) announced today that it has successfully completed the acquisition of Dexco Polymers LP (“Dexco”), a previous joint venture equally owned by affiliates of ExxonMobil Chemical Company, a division of ExxonMobil Corporation and The Dow Chemical Company. Dexco is a global leader in Styrene-Isoprene-Styrene (‘SIS”) block copolymers and Styrene-Butadiene-Styrene (“SBS”) block copolymers, collectively known as Styrene Block Copolymers (“SBCs”).
Headquartered in Houston, Texas, Dexco was established in 1988 and operates a production facility in Plaquemine, Louisiana, which has an annual production capacity of SIS and SBS of 70 million pounds (32k MT) and 67 million pounds (30k MT), respectively. Post transaction, Dexco will continue its operation in both Texas and Plaquemine.
The President and CEO of TSRC, Mr. Wei Hua Tu said, “We are very pleased to welcome Dexco to the TSRC family. Over the last few months, we had numerous discussions with Dexco to prepare for the integration and Dexco management demonstrated best-in-class professionalism and execution capabilities. TSRC will continuously support Dexco in its long-term growth and the complementary combination of TSRC and Dexco will allow us to expand more aggressively globally”.
Together, TSRC and Dexco plan to further strengthen their leading position in the global polymer manufacturing industry. The completion of the acquisition brings the two success stories together and marks the commencement of the integration between the two companies. TSRC will become a fully integrated global supplier os SBC products and the combined company will continue to innovate in differentiated and higher value-added products and offer a full product portfolio to customers worldwide.
[Taipei] TSRC Corporation (TSRC,2013 TT) announces that it has today entered into an agreement to acquire Dexco Polymers. Dexco is a joint venture equally owned by affiliates of ExxonMobil Chemical Company, a division of ExxonMobil Corporation and The Dow Chemical Company. Dexco is a major U.S. producer of differentiated, higher value-added styrene-isoprene-styrene (“SIS”) and styrene-butadiene-styrene (“SBS”) block copolymers (known as Styrenic Block Copolymers (“SBCs”)). The acquisition of Dexco will transform TSRC into one of the top five global players in the SBC business.
Headquartered in Houston, Texas, Dexco was established in 1988 and currently operates a production facility in Plaquemine, Louisiana. High-end differentiated products, used in the manufacture of adhesives and personal care product applications, make up the majority of Dexco’s revenues. Dexco is also a pioneer in research and development of new products.
The acquisition represents an important step in TSRC’s global expansion. The President and CEO of TSRC, Mr. Wei-Hua Tu said: ”TSRC has a long history of operating in the SBS, SIS and SEBS segments to accommodate various customer needs, and enjoys a unique competitive advantage in customized products. Dexco’s Vector® brand is recognized as a leading brand name for differentiated and high-end products in the global synthetic rubber industry, and there products are highly complementary to TSRC’s existing business. Dexco’s sales are also geographically complementary to TSRC’s: Dexco sells primarily into America and Europe, TSRC’s platform in strongest in Asia. The acquisition of Dexco will enable TSRC to become a fully integrated global supplier of SBC products meeting the needs of our clients on a worldwide basis. Following the acquisition, TSRC will be able to develop more differentiated and higher value-added products to offer our customers and this will strengthen our leadership in the international synthetic rubber market.”
The acquisition is subject to customary closing conditions, including regulatory notices and approvals in Taiwan and in the United States and it expected to close early in the second quarter of 2011.
- 50 million USD joint investment in new plant
- Production of NBR to begin H1, 2012
- Chinese NBR market showing double-digit growth
- 100 local jobs to be created
Shanghai/Taipei/Leverkusen – Germany’s LANXESS and Taiwan’s TSRC Corporation will enter into a 50:50 joint venture in Greater China called LANXESS-TSRC (Nantong) Chemical Industrial Company Ltd. The two companies are jointly investing 50 million USD (EUR 36 million) in a new plant that will produce Nitrile Rubber (NBR) in Nantong, northwest of Shanghai. The plant will have an initial capacity of 30,000 metric tons per year and serve the rapidly growing Chinese market with high-quality grades of NBR.
Groundbreaking is scheduled for September 2010, and production is expected to start up in the first half of 2012. The marketing activities of the joint venture will begin in the summer of 2010. The joint venture will serve Chinese customers with NBR produced at LANXESS’ La Wantzenau site in France – the world’s largest NBR site – until the Nantong plant starts up.
“The Chinese NBR market is the fastest growing in the world, boasting double-digit growth rates,” said Werner Breuers, Member of LANXESS’ Management Board. “The partnership brings us a step closer to our customers and opens the door to further tie-ups in the emerging Asian market in the future.”
“The partnership is a win-win combination. It brings together TSRC’s long-history of engineering and production know-how in China with LANXESS’ marketing and technical expertise in synthetic rubber,” said TSRC’s CEO Wei-Hua Tu.
The Nantong Economic and Technological Development Zone is located in Jiangsu province and is the home to many chemical, textile and electronic companies. It is located alongside China's coastline and the estuary of the Yangtze River. The investment will create 100 local jobs at the NBR plant – the most modern of its kind in Asia. Up to 500 people will be working during the construction phase. Clearance for the joint venture from the relevant anti-trust authorities is expected by the end of July 2010.
TSRC currently operates highly cost-efficient emulsion styrene-butadiene rubber (ESBR), polybutadiene rubber (BR) and thermoplastic elastomer (TPE) plants in Nantong and is one of the largest synthetic rubber producers in Asia. The products are sold under the tradename, Taipol®. TSRC posted sales of USD 700 million in 2009 and currently employs 1,100 people worldwide. In addition to its Nantong site, TSRC has production plants in Shanghai and Jinan in China as well as in Taiwan and Thailand.
LANXESS is the world’s largest producer of synthetic rubber and the world’s largest producer of NBR. Its products sold under the brand names Perbunan®, Krynac®, Baymod® and Nanoprene® are part of LANXESS’ Technical Rubber Products business unit (TRP). The products have a higher resistance to oil than conventional rubbers. They also demonstrate a better resistance to ozone, UV light, hot air and long-term aging. NBR is used in a wide-range of applications such as seals, hoses for hydraulics and pneumatics, rubber gloves, elastic threads, as well as blankets for print cylinders and rolls.
TRP has production sites in Leverkusen, Dormagen, Marl (Germany), La Wantzenau (France), Orange (United States) and is part of LANXESS’ Performance Polymers segment, which recorded sales of EUR 2.38 billion in 2009.
With approximately 1,000 employees and five production sites, LANXESS achieved total sales in Greater China of EUR 584 million in 2009
Indian Oil Corporation, TSRC Corporation (TSRC), Taiwan and Marubeni Corporation (Marubeni), Japan have executed a Joint Venture Agreement for implementation of a state of art, 120,000 TPA Emulsion Styrene Butadiene Rubber (e-SBR) project based on Butadiene feed available from IndianOil's Panipat Naphtha Cracker Complex (PNCP).
TSRC is the e-SBR technology provider and a leading producer & supplier of synthetic rubbers. Marubeni is one of the largest general trading companies in Japan engaged in the trading of commodities including but not limited to oil, gas, chemicals, metals, machineries, foods, etc on a global level.
There is a robust growing demand for SBR in the country which is utilized for manufacture of automotive tyres / conveyors/ fan belts etc. At present, there is no operating e-SBR capacity in the country and the entire e-SBR domestic demand is met through imports. Thus setting up of the e-SBR unit at Panipat would not only result in import substitution but would also add value to the intermediate streams of IndianOil's PNCP.
IndianOil, TSRC and Marubeni had earlier carried out a detailed feasibility study for setting up of the e-SBR plant at Panipat based on which, the Boards of Directors of IndianOil, TSRC and Marubeni have subsequently approved implementation of the project in Joint Venture. The equity structure of the Joint Venture would be IndianOil – 50%, TSRC – 30% and Marubeni - 20 %.
The project is targeted to be completed by Q2'2012 at an estimated cost of Rs.900 Crore. Provisions for a quick expansion of the plant to 200,000 MT per annum depending on the demand have also been planned .
Taipei, May 27th, 2009, TSRC Corporation today announced that it has signed a license agreement with RUSTEP LLC, a wholly owned subsidiary of OJSC SIBUR Holding (Open-joint-stock-company SIBUR holding), for producing Styrene Block Copolymer (SBC) products. The major application of SBC products are asphalt modification and shoe manufacturing. The conditions of this agreement are as follows;
- Licensee: RUSTEP LLC
- Technology: Styrene Block Copolymer (SBC) Technology
- Plant Site: Voronezh, Russia
About OAO “SIBUR Holding”: A Russia leading petrochemicals company, a subsidiaries of Gazprom, with a total of 34 plants and subsidiaries producing over 100 petrochemical products. It has achieved strong financial results over the past few years. For the year 2008, SIBUR recorded revenue of Rubles 173.5 billion, approximately US Dollars 5.2 billion, an increase of 21.6 % on the year, with a net income of Rubles 16 billion, approximately US Dollars 480 million. For SIBUR Web Site see http//: www.sibur.ru
About RUSTEP LLC RUSTEP: Incorporated in 2008, is a wholly owned subsidiary of SIBUR. The Plant is located in Voronezh, next to one of subsidiaries of SIBUR, Voronezhsintezkauchuk JSC (Voronezhsintezkauchuk joint-stock company), which is one of the first companies in the world to produce synthetic rubbers and latexes, with a history going back to 1932.
About Voronezh: A large city in southwestern Russia, and located south of Moscow, and not far from Ukraine. It is the administrative center of Voronezh Oblast. It is an important railway junction (with lines to Moscow, Rostov-on-Don and Kiev).