ROTTERDAM, Netherlands and ANTWERP, Belgium, Oct. 3, 2013 /PRNewswire/ -- LyondellBasell and Oiltanking Stolthaven Antwerp today announced that Lyondell Chemie Nederland BV and Oiltanking Stolthaven Antwerp NV have signed a 10-year agreement for the storage and handling of Glacial Acetic Acid (GAA) and Vinyl Acetate Monomer (VAM) in Antwerp. As part of the agreement, Oiltanking Stolthaven will invest in new stainless steel storage capacity and rail loading infrastructure at Antwerp.
"GAA and VAM are industrial chemicals that are in high demand. Europe has an increased need for these imports. This agreement allows us to solidify our commitment to the European acetyls market and continue to serve our customers' needs far into the future," said Justin Hommes, Marketing Manager, Acetyls and BDO-Derivatives of LyondellBasell in Europe.
GAA is one of the world's most essential intermediate chemicals. It is used to manufacture VAM, purified terephthalic acid, acetic anhydride, monochloroacetic acid and acetate esters. VAM is a chemical building block used to manufacture a wide variety of industrial and consumer products such as polyvinyl acetate for paints, adhesives and coatings. Polyvinyl alcohol is also used to make adhesives, coatings and water soluble packaging films. Polyvinyl acetals are used to produce insulation for magnetic wire, interlayers for safety glass, wash primers and coatings. Other related applications of ethylene vinyl acetate copolymers include flexible films, coatings, adhesives, moldings and insulation and packaging.
LyondellBasell is a global supplier of GAA and VAM. Its customers are served by a global storage and distribution network that spans North America, Europe and Asia.About LyondellBasellLyondellBasell (NYSE: LYB) is one of the world's largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell ( www.lyondellbasell.com ) manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. For more information in Europe, contact: Gerard Van Der Zanden, Senior Manager of EAI Communications ( Gerard.VanDerZanden@lyondellbasell.com). About Oiltanking Stolthaven AntwerpOiltanking Stolthaven Antwerp NV is a 50/50 joint venture company between Oiltanking GmbH and Stolthaven Terminals BV, a subsidiary of Stolt Nielsen Transportation Group. The JV was formed in 2006 but remained an independent terminal which follows a 'first come, first serve' policy. Oiltanking GmbH is a subsidiary of Marquard & Bahls AG, Germany, a leading petroleum company, privately owned. Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 75 terminals in 23 countries within Europe, North and South America, Middle East, Africa, India as well as Asia. Oiltanking has an overall storage capacity of 22.8 million cubic meters. For information, contact: Commercial Director Oiltanking Stolthaven Antwerp – Nancy De GroofTelephone: +31 3 561 15 02 or e-mail: firstname.lastname@example.org Media Contact: David A. Harpole +1 713-309-4125 SOURCE LyondellBasell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV