ACC: Steel tariff would increase chemical project costs 0.5% | ACC criticizes Calif. proposal to regulate food packaging | US still an obstacle in Bayer-Monsanto talks
March 16, 2018
ACC SmartBrief
News for American Chemistry
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ACC: Steel tariff would increase chemical project costs 0.5%
The 25% US steel tariff would raise costs at the average US cracker project by about 0.5%, with purchased steel accounting for 2% of overall costs, according to the American Chemistry Council. Those figures do not include potential added costs from finished steel or steel-made components.
ICIS Chemical Business (UK) (3/15) 
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Policy Watch
ACC criticizes Calif. proposal to regulate food packaging
California's draft plan to regulate food packaging under its Safer Consumer Products program is duplicative and unnecessary and potentially conflicts with the Food and Drug Administration's risk-based safety standards, according to the American Chemistry Council. Such regulation would "undermine FDA's educational efforts to reassure consumers about the safety of food packaging," ACC said.
Chemical Watch (subscription required) (3/15) 
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US still an obstacle in Bayer-Monsanto talks
Antitrust regulators in the US may not be satisfied with Bayer's proposed asset sales as part of its deal with Monsanto and may require additional divestments, sources say. Separately, Bayer said negotiations with Russian regulators are advancing.
Bloomberg (free registration) (3/15),  Reuters (3/14) 
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Other News
Industry Watch
Explosions now a concern for industrial cyberattacks, experts say
A cyberattack on a petrochemical facility in August could have caused an explosion had it been properly executed, raising concern for the safety of industrial facilities in the US and elsewhere. "If attackers developed a technique against Schneider equipment in Saudi Arabia, they could very well deploy the same technique here in the United States," said James Lewis of the Center for Strategic and International Studies.
The New York Times (tiered subscription model) (3/15) 
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Storm prep requires good relations between chemical firms, government
Cooperation and information-sharing between government officials and chemical companies is key to a well-planned, well-executed response during storms like Hurricane Harvey, officials said at a recent event organized by the American Chemistry Council and Texas Chemical Council. Companies should "test those relationships long before you actually need to use the relationships," said Chad Anderson of Huntsman.
SmartBrief/Leadership (3/16) 
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LyondellBasell, Suez to work on plastics recycling
LyondellBasell and Suez have closed their 50/50 acquisition of Quality Circular Polymers and will focus on accelerating the adoption of circular polymers. "With QCP, we have combined our respective expertise with Suez to create an innovative system that can be scaled as the circular economy grows," said LyondellBasell CEO Bob Patel.
Packaging Business Review (U.K.) (3/15) 
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Analysis: US chemical firms keeping an eye on raw materials, tariffs
There is strong demand and expansion occurring for the US chemical sector, but China, tariffs and higher raw-material prices are ongoing challenges, according to this Zacks Equity Research analysis.
Zacks (3/15) 
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Leadership & Management
Great culture drives a strong brand
A company's culture needs to reflect the values and purpose its brand strives to represent and the actions taken internally, rather than lining up with something like a mission statement, says Denise Lee Yohn, author of a book on brand and culture. "Leaders can no longer assume their organizations will have a healthy culture if they're nice and decent people -- it takes deliberate effort to cultivate a unique, valuable, sustainable culture," she says.
Skip Prichard Leadership Insights (3/14) 
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ACC News
WSJ highlights international agency's troubling influence over state's law
The Wall Street Journal editorial board has joined the chorus of opinion leaders pointing out the serious flaws with California's labeling law, known as Proposition 65, and the International Agency for Research on Cancer's Monographs Program. The Journal illustrates the problematic relationship between the state program and the international agency. California has essentially delegated its authority to a foreign institution that refuses to comply with American laws on transparency and accountability, which is a disservice to the people of California and makes the government less accountable to them. Read more.
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Learn more about the American Chemistry Council:
What heaven can be more real than to retain the spirit-world of childhood, tempered and balanced by knowledge and common sense.
Beatrix Potter,
writer and illustrator
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The news reported in SmartBrief does not necessarily reflect the official position of the American Chemistry Council.
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