LyondellBasell, Oiltanking Stolthaven Sign 10-Year Agreement
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