PQ Group Holdings Expands Polyolefin Catalysts Portfolio through an Agreement with INEOS
PQ Group Holdings Inc. (NYSE:PQG) a leading, global provider of specialty catalysts, materials, chemicals and services, announced today an agreement with INEOS Polyolefin Catalysts to commercialize certain polyethylene catalysts to customers of selected processes. This collaboration will expand PQ’s current catalyst product offering to its customers. In addition, it will enable PQ to access new customers through an enhanced product offering and associated technical support.
“We are very excited about the collaboration with INEOS, one of the global leaders in polyolefin catalyst technology, and believe there is considerable growth and synergy potential through access to additional customers, technology and resources,” said Belgacem Chariag, PQ President and Chief Executive Officer. “Catalysts continues to be a strategic growth platform for PQ and this agreement represents a key step forward in support of that strategy.”
INEOS Polyolefin Catalyst CEO, Iain Hogan, said, “Our principal strategy remains to maintain and develop our catalyst offering and support services within our core area of expertise and customer base. This collaboration with PQ allows us to broaden our knowledge and breadth of products with a well-respected partner in their own field. It’s a win-win for both companies, but particularly for our customers that get access to a more comprehensive product offering.”
PQ’s Catalyst segment currently produces silica catalysts and supports that are critical in the production of polyethylene resins used in packaging films, bottles, and containers and other molded applications, as well as other catalyst products. PQ also produces a catalyst used in the manufacture of MMA, a scratch-resistant plastic used to replace glass and as a durable surface coating. These catalysts also reduce the energy needed for the manufacture of plastics with less waste.
Richard Longden (INEOS)
PQ Investor Contact:
Nahla A. Azmy
About PQ Group Holdings Inc.
PQ Group Holdings Inc. is a leading integrated and innovative global provider of specialty catalysts, materials and chemicals, and services. We support customers globally through our strategically located network of manufacturing facilities. We believe that our products, which are predominantly inorganic, and services contribute to improving the sustainability of the environment.
We have four uniquely positioned specialty businesses: Catalysts serves the global refining, petrochemical and emissions control industries; Refining Services provides sulfuric acid recycling to the North American refining industry; Performance Materials produces transportation reflective safety markings for roads and airports; and Performance Chemicals supplies diverse product end uses, including personal and industrial cleaning products, fuel-efficient tires, surface coatings, and food and beverage products.
We serve over 4,000 customers globally across many end uses and operate over 70 manufacturing facilities which are strategically located across six continents. For more information, see our website at https://www.pqcorp.com.
About INEOS Polyolefin Catalysts
The INEOS Polyolefin Catalyst business supplies INcat Polyolefin Catalysts worldwide for use in a wide range of polyethylene and polypropylene processes. These catalysts deliver optimum product properties with low operating costs and operational simplicity. While the INcat catalyst portfolio has been optimised for performance in the Innovene technology platforms, INcat catalysts have the potential to provide significant advantages to other polymerisation technologies. Innovene and INcat are trademarks owned and/or used by INEOS group companies.
Note on Forward-Looking Statements
Some of the information contained in this press release constitutes “forward-looking statements.” Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects” and similar references to future periods. These forward-looking statements speak only as of the date of this release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.