ART Announces CLG Hydrocracking Catalysts Sales Agreement
COLUMBIA, Md.--(BUSINESS WIRE)-- 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. (NYS: GRA) and Chevron Corporation (NYS: 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."
Under the agreement, ART will be the worldwide provider for hydrocracking and lubes hydroprocessing catalysts. CLG will continue to focus on its world-class technology development, licensing, design, and revamp of hydrocracking, lubricant base oil, resid hydrotreating, and resid hydrocracking plants globally. Both ART and CLG customers will continue to have access to the broad depth of Chevron technical service and hydroprocessing operating expertise.
Grace is a leading global supplier of catalysts; engineered and packaging materials; and, specialty construction chemicals and building materials. The company's three industry-leading business segments—Grace Catalysts Technologies, Grace Materials Technologies and Grace Construction Products—provide innovative products, technologies and services that enhance the quality of life. Grace employs approximately 6,300 people in over 40 countries and had 2012 net sales of $3.16 billion. More information about Grace is available at www.grace.com.
About Chevron Lummus Global
CLG licenses refining hydroprocessing technologies and catalyst systems worldwide, and is a 50-50 joint venture between Chevron U.S.A. INC. and CB&I's Lummus Technology group. CLG's research and development staff is continuously seeking advancements in catalyst and technology that will improve operating economics. CLG is the leading process technology licensor for alternate sources of fuels including: oil sands bitumen, shale oil, biofuels, and extra heavy oils. For more information about Chevron Lummus Global please visit: www.chevronlummus.com
This announcement contains forward-looking statements, that is, information related to future, not past, events.Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "suggests," "anticipates," "outlook," "continues" or similar expressions.Forward-looking statements include, without limitation, all statements regarding Grace's Chapter 11 case; expected financial positions; results of operations; cash flows; financing plans; business strategy; budgets; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities.For these statements, Grace claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.Like other businesses, Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect.Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation: developments affecting Grace's bankruptcy, propose plan of reorganization and settlements with certain creditors, the cost and availability of raw materials (including rare earth) and energy, developments affecting Grace's underfunded and unfunded pension obligations, risks related to foreign operations, especially in emerging region, acquisitions and divestitures of assets and gains and losses from dispositions or impairments, the effectiveness of its research and development and growth investments, its legal and environmental proceedings, costs of compliance with environmental regulation and those factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly report on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the Internet atwww.sec.gov.Reported results should not be considered as an indication of future performance.Readers are cautioned not to place undue reliance on Grace's projections and forward-looking statements, which speak only as the date thereof.Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
KEYWORDS: United States North America Maryland
The article ART Announces CLG Hydrocracking Catalysts Sales Agreement originally appeared on Fool.com.