Americas top stories: weekly summary

Author: ICIS Editorial

2020/07/27

HOUSTON (ICIS)--Here are the top stories from ICIS News from the week ended 24 July.

Celanese to sell Polyplastics stake for $1.575bn after lagging performance
Celanese decided to sell its 45% stake in Polyplastics after the joint venture spent years lagging behind the company's other holdings in its Engineering Materials segment, the CEO said on Monday.

US fatty alcohols supply and demand expected to find balance in H2
The US fatty alcohols market is expected to find more balance in H2 as demand eases, delayed imports arrive and producers take summer and fall maintenance.

PTTGC signs deal to develop NGL storage in northeast US
PTTGC America signed a precedent agreement that outlines the terms and conditions to develop underground natural gas liquids (NGL) storage in northeastern US. This is a critical piece of infrastructure for a proposed polyethylene (PE) complex that the company could develop in the region, it said on Wednesday.

Dow to cut jobs by 6% but sees signs of China, Europe recovery
Dow is to cut its workforce by 6% and exit uncompetitive assets as it tackles the ongoing impact of the coronavirus pandemic, the US chemicals major said on Thursday.

BASF declares force majeure from US TDI plant
BASF has declared force majeure from its toluene diisocyanate (TDI) plant in Geismar, Louisiana, a company spokesperson confirmed on Friday.