Olin taps Lane to succeed Sutton as CEO
US-based chlor-alkali producer Olin has named LyondellBasell executive vice president Kenneth Lane to succeed Scott Sutton as company chief executive effective next month.
Sutton will step aside on 18 March and will work with Lane for a transition period before leaving the company, Olin said on Monday. In previous discussions with investors, Sutton indicated he plans to depart Olin by the middle of the year.
Sutton also stepped down from Olin's board effective 16 February, with former Dow executive William Weideman appointed to succeed him as chair.
Lane has served as executive vice president of global olefins and polyolefins at LyondellBasell since 2019, including serving as interim chief executive early last year. Lane previously worked at BASF for 13 years
Some Olin customers have wondered whether new leadership at the company will change how the company approaches the market, but no indications of a change in strategy have yet emerged.
Olin has run plants in recent years with a focus on the weaker side of the chlor-alkali market, running operations lower and tightening supply to support price recovery for whichever product, caustic or chlorine, was performing poorly.
Olin has capacity idled at two plants, St. Gabriel, Louisiana and Freeport, Texas, to try and support falling chlorine prices. The two plants combine for about 1mn t/yr of chlorine capacity. Even with the idled capacity, supply has outpaced caustic and chlorine demand, leaving US producers with longer supply levels across the chlor-alkali chain.
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India extends anti-dumping duties on c-PVC imports
India extends anti-dumping duties on c-PVC imports
Singapore, 26 August (Argus) — India's Ministry of Finance has recommended continuing anti-dumping duties (ADDs) on chlorinated polyvinyl chloride (c-PVC) imports from China and South Korea, citing continuing imports below market value threatening the domestic sector. The recommendation was published in the Gazette of India on 23 August, with ADDs to be applied to all c-PVC imports from China and South Korea either in compounded form or unprocessed form. ADDs under this notification can be levied for a period of five years, unless revoked, superseded or amended earlier from the date of publication in the Gazette of India. An initial anti-dumping investigation began in March 2019, followed by final findings and initial ADDs on c-PVC imports from China and South Korea on February 2020. Indian producers noted continuing dumping of c-PVC resin following expected demand growth from the agricultural and construction sectors. But authorities said, despite new production capacity planning to come on line in India in the coming years, that the likelihood of further dumping would remain high should ADDs be removed too soon. India has already implemented ADDs on paste PVC imports on 13 June, while continuing to investigate anti-dumping of suspension PVC imports . C-PVC is produced by the addition of chlorine to standard PVC resin, with the final compound having greater resistance to higher temperatures, fire and corrosion compared with traditional PVC. C-PVC is primarily used in pipe applications. By Michael Vitiello India c-PVC ADDs Country of origin Country of export Producer Specification Duty ($/t) China Any Any CPVC resin 790 China Any Any CPVC compound 605 Any China Any CPVC resin 790 Any China Any CPVC compound 605 South Korea Any Hanwha Solutions Corporation CPVC resin 593 South Korea Any Hanwha Solutions Corporation CPVC compound 792 South Korea Any Any CPVC resin 593 South Korea Any Any CPVC compound 792 Any South Korea Any CPVC resin 593 Any South Korea Any CPVC compound 792 Source: Ministry of Finance Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Canadian labor board orders rail service to resume
Canadian labor board orders rail service to resume
Houston, 25 August (Argus) — Canada's two Class I railroads avoided a crippling extended work stoppage on Saturday, after an independent labor board upheld the Canadian government's order for the railroads to enter binding arbitration with a labor union representing more than 9,000 rail employees. The Canada Industrial Relations Board (CIRB), in two separate orders, directed the Teamsters Canada Rail Conference (TCRC) to enter binding arbitration with the nation's two Class I railroads — Canadian Pacific Kansas City (CPKC) and Canadian National (CN). The order heads off an extended work stoppage that would have echoed across North American supply chains for virtually all commodities, from crude, refined products, LPG and coal to fertilizers like potash, as well as consumer and industrial goods. Virtually all railed shipments carried by CN and CPKC came to a grinding halt early on 22 August after months-long talks between the railroads and the TCRC hit an impasse. Later the same day, the Canadian government stepped in to force parties into binding arbitration, but the TCRC said it would not abide by the directive without a ruling from the CIRB. In its rulings, the CIRB ordered CN and CPKC employees represented by the TCRC to resume their duties as of 12:01 am EDT on 26 August and remain "until the final binding interest arbitration process is completed". The CIRB also ruled that no further labor stoppages, including lockouts or strikes, could occur during the arbitration process, effectively voiding a TCRC strike notice issued on 23 August for CN workers set to take effect on 26 August. CN and CPKC said they will comply with the CIRB order, and CPKC asked TCRC employees to return to work on 25 August "so that we can get the Canadian economy moving again as quickly as possible and avoid further disruption to supply chains". The TCRC said it would comply with the CIRB decision, even though it sets a "dangerous precedent". TCRC plans to appeal the ruling in federal court. "The ruling signals to corporate Canada that large companies need only stop their operations for a few hours, inflict short-term economic pain, and the federal government will step in to break a union," TCRC president Paul Boucher said. "The rights of Canadian workers have been significantly diminished today." It could take weeks for Canadian rail operations to return to normal. CPKC said it could take several weeks for its rail network to fully recover from the work stoppage and even longer for supply chains to stabilize. Canadian railroads last week embargoed shipments of toxic materials and earlier this week stopped loading any new railcars. By Chris Baltimore Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Union plans new rail strike despite order: Update
Union plans new rail strike despite order: Update
Adds additional comment from Teamsters Canada Rail Conference Washington, 23 August (Argus) — The status of rail freight in Canada remains uncertain after a Canadian labor union today issued a new strike notice to Canadian National (CN), less than a day after the federal government ordered all parties to participate in binding arbitration. The Teamsters Canada Rail Conference (TCRC) today issued notice to CN that members will go on strike at 10am ET on 26 August. The union had not issued a strike notice to CN earlier this week, but employees could not work yesterday after the CN and Canadian Pacific Kansas City (CPKC) locked them out. The union said it moved to strike to "frustrate CN's attempt to force arbitration", and protect workers' rights to collectively bargain. CN had previously sought a federal order for binding arbitration. The government's back-to-work order yesterday sidestepped the collective bargaining process, and "undermined the foundation on which labour unions work to improve wages and working conditions for all Canadians", union president Paul Boucher said today. "Bargaining is also the primary way our union fights for rail safety — all considerations that outweigh short-term economic concerns," Boucher said. The union was more optimistic in its strike notice to CN this morning. "We do not believe that any of the matters we have been discussing over the last several days are insurmountable." It said it would be available to discuss issues to avoid another work stoppage. CN indicated it was frustrated with the union's action. "While CN is focused on its recovery plan to get back to powering the economy, the Teamsters are focused on returning to the picket line and holding the country hostage to their demands," the railroad said. CN last night had begun implementing a recovery plan to restore service . The union has not yet responded to inquiries about its action today. The office of labour minister Steven MacKinnon declined to comment. Rail operations at CN and CP stopped at 12:01am ET on Thursday after the union launched a strike at CPKC and both railroads locked out employees. That action ended late Thursday afternoon with the federal government directing the Canada Industrial Relations Board (CIRB) to manage binding arbitration on the railroads. CIRB, an independent agency, has not yet said if it will accept the government's order. CN began moving some freight early on 23 August, but the new strike order issued soon by the union today could disrupt those plans. The union has also challenged the constitutionality of MacKinnon's order regarding CPKC operations pending the outcome of a new ruling by the CIRB. CPKC's rail fleet remains parked in the meantime. CPKC said late Thursday it was disappointed in the minister's decision and sought to meet with CIRB to discuss resumption of service. CPKC said the union "refused to discuss any resumption of service, and instead indicated that they wish to make submissions to challenge the constitutionality of the Minister's direction." A case management meeting with CIRB occurred last night and another was scheduled for early today. Hearings are also underway to address preliminary issues, the union said. But the Teamsters said it was prepared to appeal the case to federal court if necessary. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Union plans new rail strike despite arbitration order
Union plans new rail strike despite arbitration order
Washington, 23 August (Argus) — The status of rail freight in Canada remains uncertain after a Canadian labor union today issued a new strike notice to Canadian National (CN), less than a day after the federal government forced all parties to participate in binding arbitration. The Teamsters Canada Rail Conference (TCRC) today issued notice to CN that members will go on strike at 10am ET on 26 August. The union had not issued a strike notice to CN earlier this week, but employees could not work yesterday after the CN and Canadian Pacific Kansas City (CPKC) locked them out. "We do not believe that any of the matters we have been discussing over the last several days are insurmountable," the union said today in its notice to CN. It said it would be available to discuss issues to avoid another work stoppage. CN indicated it was frustrated with the union's action. "While CN is focused on its recovery plan to get back to powering the economy, the Teamsters are focused on returning to the picket line and holding the country hostage to their demands," the railroad said. CN last night had begun implementing a recovery plan to restore service . The union has not yet responded to inquiries about its action today. The office of labour minister Steven MacKinnon declined to comment. Rail operations at CN and CP stopped at 12:01am ET on Thursday after the union launched a strike at CPKC and both railroads locked out employees. That action ended late Thursday afternoon with the federal government directing the Canada Industrial Relations Board (CIRB) to manage binding arbitration on the railroads. CIRB, an independent agency, has not yet said if it will accept the government's order. CN began moving some freight early on 23 August, but the new strike order issued soon by the union today could disrupt those plans. The union has also challenged the constitutionality of MacKinnon's order regarding CPKC operations pending the outcome of a new ruling by the CIRB. CPKC's rail fleet remains parked in the meantime. CPKC said late Thursday it was disappointed in the minister's decision and sought to meet with CIRB to discuss resumption of service. CPKC said the union "refused to discuss any resumption of service, and instead indicated that they wish to make submissions to challenge the constitutionality of the Minister's direction." A case management meeting with CIRB occurred last night and another was scheduled for early today. By Abby Caplan Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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