Javier Ochoa – Sales Manager

March 2016

IQOXE Emulsion Polymers

1. Ownership of the Company

2. IQ OXE : Ethylene Oxide

3. IQ OXE : Emulsion Polymers

4. Emulsion Polymers : product range

5. Technology benchmark

6. Conclusions /

IQOXE Emulsiones Poliméricas is a young Company with a

solid experience

in the production of emulsion polymers for the waterborne

coatings, construction and adhesive markets.

OWNERSHIP OF THE COMPANY

• CRISTIAN LAY was created in 1981 as a leading company in jewelry design.

• However, over the years it has diversified its business portfolio and currently forms a major Industrial Group in sectors such : – Industry – Energy – Retail

• Today, the Multinational Group CRISTIAN LAY employs over 1.800 professionals and has an annual turnover of around 500 million Euros.

Energy Sector

Retail Sector

Industrial Sector

IQOXE – Oxido de Etileno

• The Ethylene Oxide and glycol facility comprises two production facilities:

- Ethylene oxide and glycols: Capacity of 140.000 t/y, of which approx. 50.000 t/y is currently pure ethylene oxide and 90.000 t/y are transformed into glycols in the integrated plant.

- Glycol distillation plan with a capacity of 4.000 t/y of ethylene glycol and 400 t/y of tri-ethylene glycol.

• Derivatives facility: 3 batch units with total capacity of 156 t/d polyethylene glycols OR 100 t/d polyols OR 125t/d of fatty alcohol ethoxylates.

• Capacity expansion 40.000 t/y – 50.000 t/y of equivalent ethoxylates. New alcohoxylation /propoxylation plant, scheduled to start-up last quarter 2016.

IQOXE : Emulsiones Poliméricas

EMULSION POLYMERS – PRODUCTION SITE

• Product range : V-ester , A/S , A , Vinyl Acetate, Vinyl Co-polymer

• Markets : Coatings , adhesives, and construction

TECHNOLOGY BENCHMARK FOR COATINGS :

1. Acrylic waterborne emulsion : exterior coatings

2. Styrene –acrylic emulsion : int/ext coatings

3. Vinyl- Veova emulsion : int/ext coatings

Falling prices on crude oil had a direct impact in the price of A and A/S emulsions

CONCLUSIONS

• In 2015 the supply chain of Vinyl ester of versatic acid experienced some major

changes : FM on Veova , alternative supplier from Asia dual sourcing

• Waterborne emulsion based on Vinyl ester of versatic acid offer an

improvement

in the following areas vs an A/S :

• Improved alkali-resistance (saponification)

• Improved durability and UV resistance. Leading in less yellowing

• Improved wet scrub

• Improved pigment binding power

• The situation of low costs of PP derivatives - acrylic monomers included - is

temporary and it will change as long as the price of crude would rise.

• IQOXE has the technology to produce a range of V-ester based emulsions for

the formulation of interior and exterior coatings.

Grato pela vossa atenção