Advanced Refining Technologies LLC (ART) announced that it has signed an agreement with Chevron Lummus Global (CLG) regarding hydrocracking and lubes hydroprocessing catalysts. Under this agreement, ART will have the exclusive right to sell CLG's hydrocracking and lubes hydroprocessing catalysts to CLG's licensees and other petroleum refiners for unit refills. The agreement will streamline hydroprocessing catalyst supply and improve technical service for refining customers by establishing ART as the single point of contact for all their hydroprocessing catalyst needs. ART is a joint venture between subsidiaries of W. R. Grace & Co. (NYSE: GRA) and Chevron Corporation (NYSE:CVX). CLG is a joint venture between a subsidiary of Chevron and CB&I’s Lummus Technology group. ART is a leading supplier of hydroprocessing catalysts, with a portfolio of distillate hydrotreating, fixed bed resid hydrotreating, and ebullated bed resid hydrocracking catalysts. CLG is a world leader in hydroprocessing technology development and commercialization, with licensing, engineering, and petroleum refining expertise. Its portfolio includes hydrocracking (ISOCRACKING), lubes hydroprocessing (ISODEWAXING and ISOFINISHING), ebullating bed resid hydrocracking (LC-FINING), and hydrotreating (ISOTREATING) technologies. Scott Purnell, managing director of ART, commented, "We are pleased to add hydrocracking and lubes hydroprocessing catalysts to our current product portfolio. CLG's ISOCRACKING ®, ISOTREATING ®, ISODEWAXING ®, and ISOFINISHING ® catalysts are proven products that will help our refining customers improve quality and yield. With this new agreement, all of our customers’ hydroprocessing catalyst needs can be provided through a single point of contact." Leon de Bruyn, managing director of CLG, added, "We continually invest to provide our licensees with world-class process technology, catalysts and support services. This agreement represents a unique combination of ART's well-established portfolio of hydrotreating catalysts, extensive sales network and manufacturing expertise, together with our hydrocracking and lubes hydroprocessing catalyst technologies, and engineering and technical know-how. It will allow our customers to receive broader service and more advanced catalyst materials, and will improve the competitiveness and profitability of their refineries.”
Jefferies analysts note that recent construction spending data indicates a cycle rotation away from construction-exposed names and toward industrial- and durable goods-levered firms could be playing out.