LyondellBasell and Oiltanking have signed a 10-year agreement for the storage and handling of Glacial Acetic Acid (GAA) and Vinyl Acetate Monomer (VAM) in Antwerp, the companies announced on Friday.
As part of the agreement, Oiltanking 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," said Justin Hommes, marketing manager for acetyls and BDO-derivatives for LyondellBasell in Europe.
"Europe has an increased need for these imports," he added. "This agreement allows us to solidify our commitment to the European acetyls market and continue to serve our customers' needs far into the future."
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.