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
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.