www.icis.com December 10-16, 2012 | ICIS Chemical Business | 23

TOP 40 POWER PLAYERS

ANDREW LIVERISCEO DOW CHEMICAL

1

JOSEPH CHANG NEW YORK

Andrew Liveris is placing the big bets in the most cost-advantageous feedstock regions in the world – the Middle East and the US. A restructuring also will boost Dow’s position

Dow CEO Liveris takes the top spot

and other downstream capacity there. In the meantime, it is on track to start up its 390,000 tonne/year cracker in St. Charles, Louisiana, by the end of this year.

On the propylene front, Dow is building a propane dehydrogenation (PDH) plant with 750,000 tonnes/year of propylene capacity in Freeport. Start-up is expected in 2015.

This will also make use of abundant pro-pane supplies from shale gas. The company is mulling an additional PDH plant with un-specified capacity which could be completed in 2018. “Our US Gulf coast investments are high-return projects that will significantly strengthen Dow’s profitability, lifting margins for downstream businesses such as perform-ance plastics, performance materials, and coatings,” said Liveris on the company’s third-quarter conference call in October.

SADARA VENTUREDow Chemical is also proceeding with the largest petrochemical project in the modern world – the Sadara joint venture with Aram-co. The complex will include a worldscale cracker, along with capacity of 3m tonnes/year of polyurethanes, propylene glycol (PG), butyl glycol ethers, amines, polyethylene (PE) and polyolefin elastomers.

Some plants are expected to be operational in the second half of 2015, with all units ex-pected to be running by 2016. The venture awarded US-based engineering firm Foster Wheeler the engineering and procurement contract in October 2012. Dow expects Sadara to generate about $10bn in sales within a few years of operation.

Dow may also get a kicker to fund its major capital projects, as Liveris remains confident it will be paid the $2.16bn arbitration award for its failed K-Dow joint venture with Ku-wait’s state-owned Petrochemical Industries Co (PIC). Dow expects payment, including ac-crued interest, by early 2013.

Liveris said: “Things are moving very much in the methodical, professional, legal jurisdic-tion they should” while “the interest clock is ticking every single day”. Additional reporting by Stefan Baumgarten

If you were to pick two regions to build major petrochemical capacity in the world today, they would be the US Gulf Coast and the Middle East. Dow Chemical chair-

man, president and CEO Andrew Liveris is boosting the company’s production base in precisely these cost-advantaged areas with multi-billion-dollar investments.

These projects, along with decisive action to combat headwinds from a slowing global economy, makes Liveris our ICIS Top Power Player of 2012.

To deal with the new realities of a lower growth global economy, the CEO announced in October a sweeping restructuring. This will involve the closure of 29 plants and the elimi-nation of 8% of the workforce. Dow will also slash capital expenditures from 2011 levels of $2.69bn by $100m in 2012, and another $700m in 2013, as well as halt $200m in new business growth spending.

These interventions to combat economic headwinds are aimed at saving about $1bn/year (€764m) in 2013 and $1.75bn by the sec-ond half of 2014. “We recognise that these dif-ficult conditions may have extended staying power, as the new reality is that we are operat-ing in a slow-growth and volatile world,” said Liveris on Dow’s third-quarter earnings call. Yet investors were encouraged by the compa-ny’s restructuring plan.

Importantly, major petrochemical projects such as its $20bn Sadara joint venture with Saudi Aramco in Al Jubail, Saudi Arabia, and its US Gulf Coast ethylene expansions will proceed as planned.

US GULF COASTOn the US Gulf Coast, to take advantage of low-cost shale gas, no other company has the scale of planned expansions as Dow Chemical.

The centrepiece will be a world-scale 1.5m tonne/year ethane cracker at Freeport, Texas, with an estimated cost of $2bn to start up in 2017. This is part of a $4bn investment in rais-ing ethylene and propylene capacities in the region. Dow will also build polyethylene (PE)

“Our US Gulf coastinvestments are high-returnprojects that will significantlystrengthen Dow’s profitability”ANDREW LIVERISCEO, Dow Chemical

www.icis.com24 | ICIS Chemical Business | December 10-16, 2012

TOP 40 POWER PLAYERS

DMITRY KONOVCEOSIBUR

will be drawn from the Marcellus Shale de-posits in the northeast of the US.

Approximately 70,000 bbl/day of ethane and propane are expected to be transported to the coast. “There is a huge amount of arbitrage to play with,” Crotty told ICIS in October.

INEOS is also seeking to tackle the Europe feedstock conundrum by constructing an eth-ylene import terminal at Antwerp, Belgium. This is scheduled for completion by the end of 2012 and will allow the company to source from the Middle East and elsewhere. Crotty describes it as having a “virtual cracker”.

Responding to the ongoing overcapacity in the European styrene market, INEOS Styren-ics permanently halted production of styrene monomer (SM) and polystyrene (PS) at its site in Marl, Germany in October.

Crotty is also president of the European Pet-rochemical Association.

The leader of Germany-based LANXESS, the world’s largest producer of synthet-ic rubber, has achieved remarkable fi-nancial results and stability in gross

margins in the face of volatile butadiene (BD) feedstock prices.

The company has used its rock-solid bal-ance sheet to fund major growth projects, espe-cially in Asia, in BD rubber and other specialty rubbers. LANXESS joined the blue-chip DAX stock index in Germany this year and its stock has been one of the top performers in 2012.

At its media day in New York in September, Heitmann revved up the company’s profit tar-gets on accelerating demand for high-perform-ance synthetic rubber and lightweight plastics to cut vehicle fuel consumption - an area it calls “green mobility”.

WILL BEACHAM LONDON

As director of communications, Tom Crotty has become very much the public face of INEOS which during 2012 has proved itself to be a highly

innovative and versatile company, respond-ing quickly to the emerging challenges facing a company with a heavily Europe-focused portfolio.

The rise of US shale gas has left most Euro-pean chemical producers sidelined by their reliance on naphtha as a feedstock. INEOS re-sponded with the novel idea of importing ethane from the US. The ethane will be used as an alternative feedstock for INEOS’s gas cracker in Rafnes, Norway.

INEOS signed an ethane supply agreement with Range Resources, which will run from 2015. Ethane and other natural gas liquids

4

JOSEPH CHANG NEW YORK

WILL BEACHAM LONDON

“In 2011, products related to green mobility accounted for 17%, or €1.5bn [$1.9bn] of our total sales, and that figure is growing. We aim to nearly double our total revenue in this field to €2.7bn by 2015,” he said.

LANXESS is investing heavily in new world-scale facilities to produce high-per-formance synthetic rubbers for these tyres.

In September, the company began construc-tion of a €200m neodymium-based perform-ance rubber (Nd-PBR) plant at Jurong Island in Singapore. The 140,000 tonne/year plant is expected to start up in the first half of 2015. LANXESS expects the facility to generate an-nual sales of €300m-350m as of 2017.

LANXESS’ new 100,000 tonne/year butyl rubber unit is on track to start in the first quarter of 2013. The butyl rubber plant, LANXESS’ sin-gle-largest investment at €400m, is next to the new Nd-PBR unit on Jurong Island.

Under Dmitry Konov’s leadership, Russian petrochemical major SIBUR has continued with an impressive scheme of new project construction

as well as more inorganic portfolio reshaping to prepare it for an initial public offering, probably in 2013.

Most recently, in October, Konov was present for the signing of a joint venture for the production of surfactants and oilfield process chemicals in Russia with Belgian chemicals group Solvay. Known as RusPAV, the joint-held company will be based near SIBUR’s petrochemical operations in Dz-erzhinsk, 400km (248 miles) east of Moscow, and is expected to come on stream in 2015.

SIBUR will provide raw materials and pro-duction capacity to RusPAV, while Solvay will

contribute its experience in the surfactants in-dustry, as well as the customer networks of Novecare – its surfactants subsidiary.

Meanwhile, SIBUR expects to begin com-mercial production at its 500,000 tonne/year polypropylene (PP) project in Tobolsk, Sibe-ria, Russia, in the first half of 2013.

In June SIBUR entered into an agreement with Germany’s Linde to design and build one of the world’s largest ethylene plants in To-bolsk, western Siberia.

Konov has also been pushing ahead into emerging markets to the east. China’s Sinopec signed a deal with SIBUR for the acquisition of a 25% stake in the Russian firm’s synthetic rubber plant in Krasnoyarsk.

Also in 2012, SIBUR Petrochemical India started operations in Mumbai and plans con-struction of a 100,000 tonne/year butyl rubber facility in Jamnagar in India’s Gujarat state.

3AXEL HEITMANNCEOLANXESS

TOM CROTTYDIRECTOR OF COMMUNICATION AND CEO INEOS OLEFINS & POLYMERS

2

www.icis.com December 10-16, 2012 | ICIS Chemical Business | 25

TOP 40 POWER PLAYERS

www.icis.com

STEPHEN PRYOR5

PRESIDENTEXXONMOBIL CHEMICAL

Leading the third-largest chemical company in the

world, Pryor is embarking on projects that will so-

lidify its presence in the US Gulf coast as well as

the Middle East.

US-based ExxonMobil Chemical’s announce-

ment of a new 1.5m tonne/year cracker in Baytown, Texas, US, by 2016

surprised many as the company previously indicated it would focus on

debottlenecks. However, the ambitious timing of the start-up ahead of

many rivals belies solid preparation. The cracker will provide ethylene

feedstock for two new 650,000 tonne/year high-performance polyethyl-

ene (PE) lines at the company’s nearby Mont Belvieu plastics plant.

In Saudi Arabia, with local partner SABIC, it is building a 400,000 tonne/

year specialty elastomers project, expected to come on line by 2015.

CHENGYU FU9

CHAIRMANSINOPEC

Sinopec is a government company and so fulfils

an agenda defined by the Chinese government.

Its role is to help China improve its energy self-

sufficiency through acquiring overseas oil and gas

reserves, and through gaining greater access to

Western technology. And so watch for further overseas acquisitions by

Sinopec next year, following the relatively minor purchases in 2012 of

Indonesian and European oil-storage assets.

Chengyu Fu, who replaced Shulin Su as CEO of Sinopec in 2011, said in

a recent speech that Sinopec is searching for more foreign oil and gas op-

portunities. Domestically, and in petrochemicals, it has formed a joint ven-

ture with US-based Huntsman to build a world-scale propylene oxide (PO)/

methyl tertiary butyl ether (MTBE) plant in Nanjing by the end of 2014.

RANDY WOELFEL10

CEONOVA CHEMICALS

NOVA Chemicals CEO Randy Woelfel is challenging

himself and his company’s employees to think

hard about what the company might be like in

2020 and become by 2030. The NOVA 2020

project includes the expenditure of some $1.75bn

on cracker and polyethylene expansion projects. But Woelfel clearly

wants to look carefully at what might lie beyond.

Canada-based NOVA Chemicals, which won the ICIS Company of the

Year Award this year for its financial performance in 2011, is set to take

advantage of new supplies of ethane for its crackers from shale gas and

shale oil developments in the US and from the gases pumped from the

Alberta oil sands deposits in Canada. The financial base Woelfel and his

team have achieved in a short time stands the firm well for the future.

JAMES GALLOGLY6

CEOLYONDELLBASELL

The ICIS Top Power Player of 2011 is continuing

his winning streak with solid financial results driv-

en by US shale gas dynamics.

Rather than building a world-scale cracker,

Gallogly is expanding US ethylene facilities in

Channelview, La Porte and potentially Corpus Christi, Texas, to maximise

return on capital and bring that capacity on earlier to take advantage of

strong margins. “Our previously announced growth projects remain on

schedule. We have initiated a review of additional olefins debottleneck

projects targeted to capitalise on the advantage of favorable North

American NGL prices,” said Gallogly on the release of third-quarter results.

Netherlands-based LyondellBasell has been added this year to the

US benchmark S&P 500 index.

DANIELE FERRARI7

CEOVERSALIS

It’s been a landmark year for Ferrari as he over-

sees the €2bn transition of Italy’s Versalis – for-

merly Polimeri Europa. The new strategy focuses

on licensing, innovation and green chemistry, as

well as four core business pillars: styrenics, elas-

tomers, polyethylene (PE) and intermediates.

Part of the plan includes expansion beyond the confines of Europe. In

July, Versalis agreed a joint venture with Malaysia’s PETRONAS to build

elastomer plants in Johor state to produce and market synthetic rubbers.

Ferrari also headed to Shanghai, China, in September for the inaugu-

ration of the company’s new Asia-Pacific headquarters. While there he

announced a €400m/year investment to expand operations in Asia

and plans to enhance its elastomers segment.

KHALID AL-FALIH 8

CEO SAUDI ARAMCO

As it is an oil refiner, Saudi Aramco has access to

the naphtha that will supply 70% of the feedstock

for the $20bn 26-plant Sadara Chemical Saudi

Aramco/Dow Chemical joint-venture petrochemi-

cal project in Saudi Arabia. But this is not just

about integration; it is also about creating jobs for Saudi Arabia’s popu-

lation, whose median age is just 25.3.

The logic is that as cracking naphtha results in a wider array of petro-

chemicals than cracking ethane, the current dominant feedstock in

Saudi Arabia. This will lead to a broadening of manufacturing industry.

Khalid al-Falih, CEO of Aramco, will therefore face the challenge of bal-

ancing profitability against this social and political agenda, once the

Sadara complex is on stream in 2015-2016.

www.icis.com26 | ICIS Chemical Business | December 10-16, 2012

TOP 40 POWER PLAYERS

JEAN-PIERRE CLAMADIEU12

CEOSOLVAY

When Belgium-based Solvay was looking for a

partner or for an acquisition to strengthen the

company and its clear commitment to chemicals

it was also thinking hard about senior manage-

ment succession.

Acquiring Rhodia in 2011 gave it some exciting new areas of chemis-

try and a CEO with a proven track record of focus and growth.

Jean-Pierre Clamadieu at France’s Rhodia rescued a financially ex-

posed group and set about simplifying and focusing its businesses

and structures.

As the head of the new Solvay from 10 May this year he sees fur-

ther opportunities to drive growth in some increasingly important

chemicals markets.

KURT BOCK11

CHAIRMANBASF

BASF faces some very real challenges in the cur-

rent slow and uncertain European chemicals envi-

ronment but Kurt Bock continues to help steer

the industry giant on a very steady course.

Executive board chairman since 2011, Bock

has been in charge of BASF through a period of record returns but of

growing restraints. Chemical demand growth has slowed globally,

Europe is difficult and China is growing more slowly.

The company is being driven forward hard and has adopted a strat-

egy that is targeting growth two percentage points above the chemical

sector average over the next 10 years and significantly higher earnings

before interest and tax. It has been active in a low level of merger and

acquisition activity this year despite the difficult operating environment.

CARLOS FADIGAS13

CEOBRASKEM

The head of Latin America’s largest chemical

company is focused on building gas-based petro-

chemical projects in the region.

Its majority-owned joint venture Braskem Idesa

with Mexico’s Grupo Idesa will build Ethylene XXI,

Mexico’s largest petrochemical project, featuring a 1.05m tonne/year

cracker and associated polyethylene (PE) facilities by 2015. Braskem is

also in negotiations with Brazil state-operated oil company Petrobras and

the government to hash out details of the petrochemical portion of the

Comperj project. Details are expected in early 2013 with a final decision

being made in 2014 and estimated completion in 2017-2018.

Brazil-based Braskem has also reportedly put its distribution arm

QuantiQ on sale, a move that could help fund its projects.

BEN VAN BEURDEN15

EXECUTIVE VICE PRESIDENTSHELL CHEMICALS

Ben van Beurden has enjoyed a stellar career at

Shell from 1983, and is moving up again in

January 2013 when he steps down as executive

vice president of chemicals, to become the new

director of the group’s downstream operations.

This year he has spearheaded the Dutch/British company’s continu-

ing growth in chemicals. In November he took a final investment deci-

sion to debottleneck the company’s 800,000 tonne/year mixed-feed

cracker at Bukom Island in Singapore to boost the company’s produc-

tion capacity of olefins and aromatics by more than 20% at the site.

The same month SABIC and Shell said they are looking at plans to

build a full range of polyols and propylene oxide styrene monomer

plants at the joint venture SADAF site in Al-Jubail, Saudi Arabia.

THIERRY LE HENAFF16

CEO AND CHAIRMANARKEMA

Le Henaff pleases Arkema’s investors as the French

chemicals company transforms into a specialty player.

In September 2011, Arkema reported that it

had entered a new phase in its development since

its 2006 spin-off from energy major Total. Following

the creation of a global coating segment, the formation of a high-value

performance-materials segment and the divestment of its vinyls busi-

ness, Le Henaff said the group is now well positioned for future growth.

Arkema reiterated its target to reach group sales of €8bn and an

earnings before interest, tax, depreciation and amortisation (EBITDA)

margin of 16% in 2016, while maintaining gearing below 40% –

achieved through a balance of organic growth and acquisitions, with a

continued focus to expand in higher growth countries.

STEVE HOLLAND14

CEOBRENNTAG

Brenntag CEO Steve Holland has steered the

world’s largest chemical distributor through an-

other busy year of steady growth by acquisition. He

has also had to cope with a competition enquiry.

In October the German company signed an

agreement to acquire Delanta Group – a $24.3m sales specialty chemi-

cal distributor in Latin America. In July it completed the acquisition of

Australia-based specialty chemical distribution company ISM/Salkat

Group. Brenntag also acquired Treat-Em-Rite, a chemical distribution

company in Texas, US. In November Germany’s federal competition

agency prohibited Brenntag from continuing its CVH Chemie-Vetrieb joint

venture with distributor CG Chemikalien. The three firms held combined

market shares of up to 70%, the agency said.

JOSE LUIS URIEGAS17

CEOGRUPO IDESA

Uriegas is making progress on the Mexican com-

pany’s joint venture with Brazil’s Braskem on the

Ethylene XXI project. The $3.7bn (€2.9bn) project

will include a 1.05m tonne/year ethane cracker,

two high density polyethylene (HDPE) plants with

capacities of 350,000 tonnes/year and 400,000 tonnes/year, and one

300,000 tonne/year low density polyethylene (LDPE) plant.

It will be the first new cracker in Latin America with advantaged local

gas feedstock based on US ethane prices, and possibly only one of two

major complexes built in the region.

Ethylene XXI has progressed smoothly with completion on track for

July 2015. Site preparation is complete and basic engineering finished.

As of November, around 50% of the equipment needed has ben ordered.

www.icis.com December 10-16, 2012 | ICIS Chemical Business | 27

TOP 40 POWER PLAYERS

KLAUS ENGEL18

CEOEVONIK

A veteran of the chemical industry for nearly 30

years, Engel has been chief executive of Evonik

since January 2009, taking on the task of stew-

arding the German chemical major through a

challenging period of economic turmoil.

Following the cancellation of an anticipated IPO in June on the back of

ongoing eurozone weakness, Engel has responded by seeking out com-

petitive advantages, such as capitalising on cheaper shale gas-derived

feedstocks by developing a 120,000 tonne/year methyl methacrylate

(MMA) plant in the US. He is also making big emerging market bets, with

a planned €500m methionine complex in Singapore representing its

largest single investment in a facility to date. A 230,000 tonne/year

hydrogen peroxide plant in China is also to come on stream next year.

ELLEN KULLMAN22

CHAIR AND CEODUPONT

Kullman continues to shift the US-based com-

pany more towards biotechnology and higher-mar-

gin specialty chemicals and materials.

This year, DuPont agreed to sell its automotive

coatings business to US private equity firm Carlyle

Group for $4.9bn (€3.8bn) in August. This sale along with the acquisition

of Denmark-based enzyme company Danisco in June 2011, will sharpen

DuPont’s focus on high-growth and high-margin markets in agriculture and

nutrition, advanced materials and industrial biotechnology.

DuPont has had a challenging 2012, with its leading titanium dioxide

business providing headwinds, along with electronic materials. Kullman

has responded with a restructuring plan aimed at saving $450m/year

from 2014, and $300m in 2013. This will eliminate 1,500 jobs.

ALOKE LOKIA20

CEOINDORAMA VENTURES

The CEO of the Thailand-based polyethylene

terephthalate (PET) producer has strung together

an impressive array of acquisitions and expan-

sions worldwide.

Indorama will expand PET capacity in the US

by setting up a new 540,000 tonne/year plant by the fourth quarter of

2015. In 2012, the company started commercial operations at new

PET plants in Nigeria, the Netherlands and China.

The company plans to focus on consolidation and integration after

its mergers and acquisitions spree. This year it acquired US-based eth-

ylene oxide (EO) and ethylene glycol (EG) producer Old World Industries.

Indorama is also exploring the construction of a world-scale US ethane

cracker with an undisclosed partner to back integrate into ethylene.

JAMES ROGERS21

CHAIRMAN AND CEOEASTMAN CHEMICAL

Rogers is transforming US-based Eastman

Chemical, towards a higher margin profile. A ma-

jor component of this strategy was its $4.8bn

(€3.7bn) (including the assumption of debt) ac-

quisition of US-based specialty chemical and ma-

terials company Solutia in July. Solutia produces advanced interlayers

for automotive windows, solar encapsulants, performance films for

building windows, rubber chemicals and hydraulic fluids.

For product integration, Rogers looks both forward and backward. In

April, Eastman signed a contract to source propylene feedstock from a

planned propane dehydrogenation (PDH) facility set for start-up in 2015.

Wall Street is cheering Rogers’ strategy, making Eastman’s stock

one of the top performers in 2012.

ANTONIO CARRILLO RULE19

CEOMEXICHEM

Heading up Latin America’s largest polyvinyl chlo-

ride (PVC) company, Rule engineered Mexichem’s

proposal with US-based Occidental Chemical

(OxyChem) to build a 500,000 tonne/year crack-

er at Ingleside, Texas, US.

The cracker would supply an OxyChem vinyl chloride monomer (VCM)

unit at the site to produce 1m tonnes/year of the product for export to

Mexichem’s PVC sites in Mexico and Colombia.

The deal is a wise move for Mexichem to diversify its supply options,

as Mexico’s state-owned Pemex has dragged its feet on its ethylene

expansion and proposed VCM joint venture with Mexichem. The com-

pany continues to build its leading position in PVC, which is likely to pay

off with growing construction markets in the region.

CHUCK ANDERSON23

PRESIDENTOCCIDENTAL CHEMICAL

Anderson’s OxyChem signed a memorandum of

understanding to form a joint venture with

Mexichem to build a 500,000 tonne/year ethane

cracker at OxyChem’s site at Ingleside, Texas, US.

The ethylene from the $1bn-plus project

would be used to produce 1m tonnes/year of vinyl chloride monomer

(VCM) at the site by OxyChem, to be shipped to Mexichem’s polyvinyl

chloride (PVC) sites in Mexico and Colombia under a long-term supply

agreement. Pending a definitive agreement, the cracker could start up

by 2016.

The US-based OxyChem stands to benefit from the competitive US

shale gas position on both the ethylene and vinyls side. It is currently a

net buyer of ethylene for its vinyl products.

www.icis.com28 | ICIS Chemical Business | December 10-16, 2012

TOP 40 POWER PLAYERS

PAUL CARRICO27

CEOGEORGIA GULF

The head of the US-based polyvinyl chloride (PVC)

producer agreed to merge with PPG Industries’

chlor-alkali business in an innovative $2.1bn

(€1.6bn) Morris Trust transaction designed to

minimise taxes.

The deal, which will create an integrated vinyls company with around

$5bn in sales, is expected to be completed in late 2012 or early 2013.

It will form the third-largest chlor-alkali producer and second-largest vinyl

chloride monomer (VCM) producer in North America.

“Approximately 70% integration to natural-gas-fired cogeneration will

make the combined company one of the lowest-cost integrated chlor-

alkali producers in the world,” Carrico said, adding that the vertical inte-

gration will enhance plant operating rates.

PETER CELLA25

PRESIDENT AND CEOCHEVRON PHILLIPS CHEMICAL

The head of the major US-based chemical joint

venture has seen one of its own joint venture com-

panies – Saudi Polymers – in which it owns a 35%

stake, start commercial operations in Al Jubail.

This complex has capacity of 1.16m tonnes/year

of ethylene; 1.1m tonnes/year of polyethylene (PE); 430,000 tonnes/year

of propylene; 400,000 tonnes of polypropylene (PP); 200,000 tonnes/year

of polystyrene (PS), and; 100,000 tonnes/year of 1-hexene.

CPChem is also exploring building a petrochemical site in Iraq, hav-

ing signed a non-binding letter of intent with Iraq’s Ministry of Industry

and Minerals. And on the US Gulf Coast, CPChem plans to build a new

1.5m tonne/year ethane cracker in Cedar Bayou, Texas, by the first

quarter of 2017 to take advantage of low-cost US shale gas.

PATRICK THOMAS24

CEOBAYER MATERIALSCIENCE

The genial Thomas is always entertaining and

insightful in media interviews. This year he has

continued his push for organic growth, making

significant progress with plans for a new 300,000

tonne/year toluene di-isocyanate (TDI) project at

Dormagen near Cologne.

This year it obtained the building permit for the proposed €150m

($200m) project. In May Germany’s government-owned KfW IPEX-Bank

said it would provide financing for the project. Bayer MaterialScience

will use a process at the Dormagen TDI project that reduces energy

consumption by up to 60% compared with a conventional TDI plant. The

plant is expected to start up in 2014. Thomas continues his innovation

drive with more sponsorship of the high profile Solar Impulse plane.

PETER HUNTSMAN28

PRESIDENT AND CEOHUNTSMAN

Heading up the eponymous firm, the CEO an-

nounced a 49:51 joint venture with China’s

Sinopec to build a world-scale propylene oxide

(PO)/methyl teriary butyl ether (MTBE) facility in

Nanjing by the end of 2014. The $750m (€589m)

facility will produce 250,000 tonnes/year of polyurethane (PU) interme-

diate PO and 726,000 tonnes/year of the fuel additive MTBE.

The US company has been stepping up its investments in China with a

planned investment in methyl di-p-phenylene isocyanate (MDI). It has also

commissioned engineering studies to increase MDI capacities at its site

in Geismar, Louisiana, US, to take advantage of abundant shale gas.

Earnings have been impressive in 2012, driven by a strong PU sector

while the titanium dioxide division has struggled.

MASAKAZU TOKURA26

PRESIDENTSUMITOMO CHEMICAL

This year Tokura gave the green light to phase 2 of

Sumitomo Chemical’s Petro Rabigh project in Saudi

Arabia with partner Saudi Aramco. This essentially

moves the Japanese company’s petrochemical hub

to the feedstock-advantaged country.

Downstream products in phase 2, which will cost around $7.0bn

(€5.5bn) include low density polyethylene (LDPE), ethylene vinyl ace-

tate, ethylene-propylene-diene monomer (EPDM) rubber, methyl meth-

acrylate (MMA), polymethyl methacrylate (PMMA) and polyols. Plants

are expected to start coming on stream by the first half of 2016.

Sumitomo Chemical is the only Japan-based chemical company to

have ethylene facilities in external countries. It also has naphtha

crackers in Singapore.

www.icis.com December 10-16, 2012 | ICIS Chemical Business | 29

TOP 40 POWER PLAYERS

CHARLES BUNCH33

CHAIRMAN AND CEOPPG INDUSTRIES

Leading the US-based coatings powerhouse,

Bunch has made a transformational deal to di-

vest its chlor-alkali business in a deal with US-

based polyvinyl chloride (PVC) Georgia Gulf.

In the planned $2.1bn (€1.6bn) deal, PPG will

receive $900m in cash and Georgia Gulf shares. With this, PPG will be-

come a purer play in coatings and optical products. The company will

use the cash for coatings and related acquisitions worldwide.

On the raw materials front, Bunch has put the pressure on titanium

dioxide (TiO2) suppliers, targeting a 4-6% reduction in the white pig-

ment’s use in 2012 and also using sulphate-based TiO2 from China in

its formulations. Under Bunch, PPG has become a darling of Wall Street

and the stock has been a top performer this year.

ROBERTO GUALDONI31

CEOSTYROLUTION

Gualdoni was handed the task of combining the

former styrenics businesses of Germany’s BASF

and Switzerland-headquartered INEOS.

When it started operations in October 2011,

Gualdoni said the Frankfurt-headquartered joint

venture will be the global leader in the production of styrene monomer

(SM) and polystyrene (PS).

In October this year, Gualdoni said Styrolution is making faster-than-

expected progress on the integration despite poor economic and

market conditions. Gualdoni is now steering the company towards

specialties, after the closing of PS and SM units in Marl, Germany, in

order to tackle over-capacity and improve the competitive position of its

European styrene-based commodity business.

ABD HAPIZ ABDULLAH30

CEOPETRONAS CHEMICALS GROUP

The first objective of Malaysia-based PETRONAS

Chemicals Group (PCG) will be to successfully

complete its $20bn RAPID refinery-petrochemi-

cals project at Pengerang, Johor, in Malaysia.

The complex, due on-stream by late 2016, will

comprise a 300,000 bbl/day refinery, 9m tonnes/year of refinery prod-

ucts at 4.5m tonnes/year of petrochemicals.

This will not just be basic petrochemicals, but also specialty chemi-

cals, which will require production and sales and marketing skills new

to Malaysia.

PCG freely admits that this is not just about making money, but also

about boosting the domestic economy. Thus, Abdullah has to balance

profitability with this social and political agenda.

SHANE FLEMING34

CHAIRMAN, PRESIDENT AND CEOCYTEC INDUSTRIES

Under Fleming, US-based Cytec agreed to sell its

underperforming coatings resins business to

private equity firm Advent International for

$1.03bn (€804m). It also sold its pressure

sensitive adhesives business to Germany’s

Henkel for $105m and certain specialty chemical assets in Brazil to

Brazil-based surfactants producer Oxiteno.

As Fleming has divested non-core businesses, he has bulked up

Cytec’s core composites business with the acquisition of UK-based

Umecore for $439m. “We are confident the acquisition strengthens our

position as a leading manufacturer of advanced composite materials

and offers significant opportunities for growth and value creation,”

Fleming said in July on the close of the deal.

DAVID EDWARD CONSTABLE32

CEOSASOL

The former group president of global operations

at US-based engineering firm Fluor has had a suc-

cessful time at Johannesburg-based energy and

petrochemical major Sasol since being appointed

to the board in July 2011. Despite continuing glo-

bal economic uncertainty and certain production challenges in the first

half of the financial year, Constable was able to report strong results

with record dividends. He is also looking to take advantage of the rapid

development of the shale gas industry in North America.

In December 2012, Sasol announced it is moving forward with the

front end engineering and design phase for 1.5m tonne/year ethane

cracker in Lake Charles, Louisiana, US. The $5bn–7bn (€3.8bn–

€5.4bn) is expected to be operational in 2017.

ALBERT CHAO29

PRESIDENT AND CEOWESTLAKE CHEMICAL

The head of the US-based olefins and vinyls com-

pany is undertaking two ethylene expansions at

Lake Charles, Louisiana in the US. Westlake is

also converting its cracker in Calvert City, Kentucky,

US, to use ethane feedstock rather than propane.

Ethylene capacity in Calvert City will rise from 450m lb/year (204,000

tonnes/year) to 630m lb/year, and the company will add 200m lb/year to

its existing polyvinyl chloride (PVC) capacity of 1.1bn lb/year at the site.

Westlake’s opportunistic attempted takeover of US PVC producer

Georgia Gulf earlier this year failed as the target linked up with PPG

Industries’ chlor-alkali business instead.

However, Westlake’s profits have soared and its stock has been

one of the top performers in the group.

www.icis.com30 | ICIS Chemical Business | December 10-16, 2012

TOP 40 POWER PLAYERS

HARIOLF KOTTMANN35

CEOCLARIANT

Kottmann has headed up the Swiss specialty

chemicals firm for four years now and continues

to work hard to improve the financial performance

of what was, and largely still is, a collection of

disparate specialty chemical businesses.

His latest move is to put up for sale three business units –

Emulsions, detergents & intermediates; Paper specialties; and Textile

chemicals, so as to focus on and strengthen its core activities consist-

ing of Additives, Catalysis & energy; Functional materials; and Industrial

and consumer specialties. He has already bolstered the catalysts and

energy unit and the functional materials segment with the €1.9bn

($2.5bn) acquisition of Germany’s Sud-Chemie. Clariant is also fo-

cused on expanding its presence in China, India and Latin America.

STEPHEN NEWLIN36

CHAIRMAN, PRESIDENT AND CEOPOLYONE

The CEO of US-based plastics compounder

PolyOne has significantly raised the company’s

profile with the planned acquisition of US rival

Spartech for $393m (€307m).

“Spartech expands PolyOne’s specialty portfolio

with adjacent technologies in attractive end markets where we already

participate as well as new ones like aerospace and security,” said Newlin

on the deal’s announcement in October. “By combining Spartech’s lead-

ing market positions in sheet, rigid barrier packaging and specialty cast

acrylics with PolyOne’s capabilities, we can accelerate growth for both

companies.” Wall Street is buying the story, with shares of PolyOne soar-

ing to a new all-time high. The Spartech deal follows PolyOne’s acquisi-

tion of liquid colorants firm ColorMatrix for $486m in 2011.

MARK GARRETT39

CEOBOREALIS

Unlike some chemical industry leaders, Mark Garrett

did not mince his words when asked about the out-

look for the European polymers sector and the im-

pact of the EU debt crisis. He said in November that

Europe is stagnating, due in part to an unwillingness

by EU politicians to make substantive structural changes to their econo-

mies. He said: “We can’t expect [Mario] Draghi at the European Central

Bank to fly in like Superman and rescue all of the politicians who aren’t pre-

pared to make any fiscal or structural changes to the economy.”

Austria-based Borealis is also pushing ahead with Borouge 3, the latest

development in the company’s 2.5m tonnes/year joint venture with the

Abu Dhabi National Oil Co. Borealis is owned by the International Petroleum

Investment Company (IPIC) of Abu Dhabi and by Austria’s OMV.

BRUCE AITKEN40

PRESIDENT AND CEOMETHANEX

The head of the world’s largest methanol produc-

er has been busy this year with the shift in global

gas availability. Canada-based Methanex is dis-

mantling one of its four methanol units in Punta

Arenas, Chile, because of lack of gas supply, and

moving it to Geismar, Louisiana, US to take advantage of abundant

shale gas in the US.

The unit has capacity of 1m tonnes/year. Methanex will begin the

move in early 2013 and have the plant running by the end of 2014, and

it is also considering moving a second unit. Aitken will retire on 1

January, with senior vice president John Floren replacing him. Aitken, a

21-year veteran with the company, was appointed to the top job in

2004. He will remain a director after retiring.

ALAN ARMSTRONG37

PRESIDENT AND CEOWILLIAMS COMPANIES

Armstrong is positioning Williams Companies to

become a powerhouse in feedstocks to the US

petrochemical sector.

It agreed to acquire 12 idle pipelines from US-

based ExxonMobil in the US Gulf Coast.

Williams Companies is investing $480m, including the cost of the

acquisition, in projects to expand its petrochemical services in the

Gulf Coast.

This includes expansion of its existing ethylene hub at Mont

Belvieu, the establishment of a propylene hub that will connect propyl-

ene customers with Mont Belvieu, and a new isobutane network that

will connect to single-sourced or undersupplied customers.

These projects are expected to come on line starting in late 2014.

RAMESH RAMACHANDRAN38

PRESIDENTMEGLOBAL

Under Ramesh Ramachandran’s leadership, Dubai-

based MEGlobal is undertaking major expansions

in monoethylene glycol (MEG) in North America.

It expects to begin operations at its newly-ex-

panded MEG unit at Fort Saskatchewan in Canada

by April-May 2013, and is planning to build a new grassroots facility in

North America. The company expects the reactors it bought as part of a

project to improve the conversion efficiency at the unit to arrive in Canada

around February next year. Commenting on plans to build a new grass-

roots MEG facility in North America, he recently said that plans for the

project are likely to be confirmed by the end of 2013.

MEGlobal is a joint venture between US-based Dow Chemical and

Petrochemical Industries Co (PIC) of Kuwait and was set up in 2004.

www.icis.com30 | ICIS Chemical Business | December 10-16, 2012

www.icis.com December 10-16, 2012 | ICIS Chemical Business | 31

TOP 40 POWER PLAYERS

ONES TO WATCHKeep an eye on these new and up-and-coming players as they strive to make an impact

CHRISTOPHE SCHILLINGCEOGENOMATICA

The head of the US-based renewable chemical process technology firm

expects more partners to join its bio-butadiene (BD) programme following

its partnership with Italy-based chemical producer Versalis and bioplastics

company Novamont. Genomatica is also commercialising bio-butanediol.

ERIK FYRWALDCEOUNIVAR

The newly appointed CEO will aim to increase the world’s second largest

chemical distributor’s presence in Brazil, China and other high-growth mar-

kets. In Brazil, he aims to build on Univar’s 2011 acquisition of chemical

distributor Arinos Quimica which had sales of $115.8m (€90.3m) in 2010.

MARK ROHRCHAIRMAN AND CEOCELANESE

The former head of US specialty chemical producer Albemarle has taken

the helm at US-based acetyls and specialty chemical company Celanese.

Slowing China growth poses a challenge. But it is moving forward with its

plan to modify a plant in Nanjing to produce industrial ethanol based on its

new TCX technology, which can produce ethanol from natural gas or coal.

ANON SIRISAENGTAKSINCEOPTT GLOBAL CHEMICAL

The new CEO of the Thailand-based company as of 1 May, 2012 will seek

bio-based production of traditional petrochemicals such as epichlorohy-

drin (ECH). The company will also participate in Malaysia’s RAPID inte-

grated petrochemical project run by PETRONAS. It is also contemplating

building a new cracker in the US to take advantage of shale gas.

ICIS offers analysis and consulting services for the global petrochemical, energy and refining industries to help you navigate the complex global markets.

Your strategic partner for identifying medium-to-long term business opportunities

To find out more about these services, visit www.icis.com/services or email enquiry@icis.com

Supply & Demand (S&D) database service – fully reconciled data across 160 countries and 100 markets, with historical data and projections from 1978 – 2030

Annual Studies – global studies, as well as dedicated reports on domestic China markets, which provide detailed expert analysis and forecast data on supply, demand, production and capacity for specific markets

Analysis servicesICIS has a range of data services and market insight reports which give you multiple views of the marketplace, enabling you to steer your business forward with skill and confidence.

Global consultancy servicesICIS provides bespoke advisory services to support your individual business goals - from expert research analysis to strategic consulting services that will guide you through every phase of your planned investments or operational expansions.