日本経済新聞　2010/3/1

私の課長時代　　丸紅　朝田照男社長

1986年、プロジェクト金融部金融開発課担当課長になる。

米複合企業のシグナル社が、チリに作るメタノール工場に納入する機器の支払いを対象にした150百万ドルのプロジェクトファイナンスを「引き受けないか」と言ってきた。

シグナル社との交渉が始まり、朝田氏は米サンディエゴに通い詰めた。

契約にこぎつけたのは89年末。

ところが2年後の91年、シグナル社はこの事業を丸ごと売却する。利益は出ていたのに「化学品はコアではなくなった」とあっさり。

　

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1988

Henley Group Inc. opens $300 million methanol facility

Six years after winning a bid from the Chilean government, The Henley Group Inc. of La Jolla has opened purportedly the second largest methanol production plant in the world.

Although corporate fanfare in San Diego was minimal, the plant opening in Chile was enough to warrant the presence of the country's president, General Augusto Pinochet Augusto , and some 1,000 invited guests, including the bulk of Chile's national ministry, just weeks before a critical referendum was announced to decide the country's political future.
The $300 million methanol plant, built near the icy shores of the Strait of Magellan uses natural gas piped from nearby Chilean oil and gas fields for conversion to methanol. By October, when it reaches full capacity, the plant is expected to produce methanol at an annual rate of 750,000 metric tons. The methanol will be marketed in the United States, Europe and Japan, competing with methanol production from Saudi Arabia, Libya, Malaysia and Trinidad.

The plant is owned and operated by Cape Horn Methanol Ltd. a joint venture of The Henley Group, Marubeni of Japan, and a small group of Chilean investors, with Henley as majority owner. General Chemical Corp. of Parsippany, N.J., which is majority-owned by Henley, will market the methanol in the United States. The plant will be run by a Chilean general manager and is expected to employ 170 people. About 80 percent of the plant's employees will be local hires and the rest petrochemical technicians brought in from outside Chile.

丸紅　機器代金150百万ドルのプロジェクトファイナンス

"Chile benefits because they get to sell us their natural gas," said Ronald I. Simon, The Henley Group's chief financial officer. Prior to Henley's building the plant, the natural gas produced in the oil drilling process had been "flared" or burned off by Empresa Nacional del Petroleo (ENAP), Chile's national petroleum company.

Under a complicated 20-year contract, ENAP now will be paid a fixed price "plus escalation" for what it once considered an unsalvageable by product of petroleum production. With a guaranteed supplier and a relatively stable price for the natural gas it needs, Cape Horn Methanol in turn will be able to sell its methanol on the world market at competitive prices.

"Chile participates over a 20-year period, and if the price (of methanol) fluctuates, we're not stuck with a long-term fixed-price contract," said David Brooks, a spokesman for General Chemical. Brooks said his company expects annual revenues of up to $100 million from methanol sales, but declined to put a dollar value on how much Chile could expect to receive from the deal.

Included in the contract are "all kinds of caveats to protect the company's position" in the event of any changes in Chile's political climate, Brook said.

"We consider the investment climate in Chile to be very favorable," said Henley's Simon. "We have a lot of confidence in the country itself. We think Chile is a very stable country."

Simon said the project originally was conceived in 1982 by Kellogg Engineering of Houston, then part of Wheelabrator Technologies. In 1983, Wheelabrator merged with Signal Corp. In 1985, Signal merged with Allied Corp. to become Allied-Signal. A year later, Allied-Signal "spun off" what became The Henley Group. Kellogg Engineering went on to design and build the methanol plant in Chile, but was sold by The Henley Group in January of this year to Dresser Industries.

1990/5
The Henley Group Inc. which is based in Hampton, N.H., and was formed in 1986 as the holding company for 35 businesses sold by Allied-Signal Inc.
After the two businesses are spun off, Henley will consist primarily of the Pneumo Abex braking material division; an 82 percent stake in Cape Horn Methanol Ltd., a Chilean methanol producer, and the holding of 14.7 million shares in Itel.

Henley said yesterday that it planned in the next year to dispose of a substantial portion of its investments, including the Itel shares, and to seek partners or a purchaser for Cape Horn Methanol.

　

1987

Wheelabrator Technologies Inc. emerges as a publicly traded company offering leading waste-to-energy services. These services include: full-service engineering and construction services; diverse manufacturing capabilities; large- and small-scale air quality control systems; independent power project development; coal handling and transportation projects; and water and wastewater treatment operations and equipment.

Methanex began its Latin American operations as the Cape Horn Methanol Company in 1985 and initiated production in 1988. The company acquired Cape Horn in 1993 and has since constructed and operated Chile II (1996), Chile III (1999) and Chile IV (2005).
Methanex’s Latin American facilities operate in Chile under the company Methanex Chile Limited, Agencia en Chile.


アライドシグナルは1985年、アライド Corp. (正式にはアライドケミカル&ダイ)とシグナル・カンパニーズ(正式にはシグナルオイル＆ガス)が合併してできた。1985年、9月アライドシグナルに社名を変更した。[1].

アライド-シグナルの名前は1993年、全ての事業において統合する事により一つの会社である事を強調するためにハイフンがなくなりアライドシグナルになった。[3]1999年、アライドシグナルは航空部門大手のハネウェルを買収して名前を変えた。

　

1998年にHoneywell は航空宇宙、自動車用製品、工業材料の大手メーカーであったアライドシグナル（AlliedSignal ）と合併。現在の「Honeywell International, Inc.」の名称となった

1999年にハネウェルを150億ドルで買収する形で合併した。アライドシグナルは...

　

ハネウェルはGEが450億ドルでハネウェルを買収するという内容で2001年にゼネラル・エレクトリック（GE)との合併を検討したことがある。これは2000年に航空機エンジン製造のユナイテッド・テクノロジーズからの420億ドルでの買収提案を阻止するための提案であった。合併はアメリカ当局には認可されたが、ヨーロッパ委員会が独占禁止法に基づく審査によって合併を阻止した。

これは、両社の合併によってジェットエンジンやアビオニクスなどの分野でいろいろな製品を組み合わせて販売することにより寡占化が起きて他の企業が存続できなくなることを危惧したためである。

2007年、GE はハネウェルとよく似た事業内容のSmiths Aerospaceを買収した。[1]

In 1970, Honeywell merged its computer business with General Electric's to form Honeywell Information Systems, which performed well in mainframe markets.

In 1986, the personal computer emerged and the company formed Honeywell Bull, a global joint venture with Compagnie des Machines Bull of France and NEC Corporation of Japan.

Its ownership level was gradually decreased until, in 1991, Honeywell was no longer in the computer business. The digital computer knowledge was then applied to its traditional field of automation control, integrating sensors and activators.

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Under its new name, Allied Corp. (1981), the company went on to purchase the Bendix Corp., an aerospace and automotive company, in 1983. By 1984, Bendix generated 50% of Allied's income, while oil and gas generated 38%.

In 1985, Allied merged with the Signal Companies, adding critical mass to its aerospace, automotive and engineered materials businesses. Founded by Sam Mosher in 1922 as the Signal Gasoline Company, Signal was originally a California company that produced gasoline from natural gas. In 1928, the company changed its name to Signal Oil & Gas, entering into oil production the same year. Signal merged with the Garrett Corporation, a Los Angeles-based aerospace company, and in 1968 adopted the Signal Companies as its corporate name.

The addition of Signal's Garrett division to Bendix made aerospace Allied-Signal's largest business sector. In 1985, the company sold 50% of Union Texas, and in 1986 it divested 35 non-strategic businesses through the formation and spin-off of The Henley Group, Inc.

In mid-1991, with a new CEO, Lawrence A. Bossidy, and new leadership in many key businesses, Allied-Signal began a comprehensive program of transformation. Bold actions were taken to improve cash flow and operating margins, to increase productivity, and to position the company as a global competitive force for the years ahead. The Allied-Signal name was changed to AlliedSignal in 1993 to reinforce a one-company image and signify the full integration of all of its businesses.

In 1992, the company sold its remaining interest in Union Texas through a public offering for $940 million in net proceeds.

Throughout the 90’s, Lawrence A. Bossidy led a growth and productivity transformation that quintupled the market value of AlliedSignal shares and significantly outperformed the Dow Jones Industrial Average and the S&P 500.

Honeywell was founded and shaped by inventive technical people and superior leadership. These same values power the new Honeywell. The new Honeywell captures the best of its AlliedSignal and Honeywell Inc. heritage, and is one of the world’s leading companies.
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M.W. Kellogg Limited

In 1992 a new share-holding was established with Kellogg Brown and Root (KBR) (55%) and JGC (45%) as the parent companies.

After separating itself from its rail car manufacturing interests, Pullman, Inc., continued as a diversified corporation, with later mergers and acquisitions, including a merger in late 1980 with Wheelabrator-Frye, Inc., in which Pullman became a subsidiary of Wheelabrator-Frye, Inc. In January 1982, Wheelabrator-Frye merged with M. W. Kellogg, a builder of large, cast-in-place smokestacks, silos and chimneys. Wheelabrator-Frye retained both Pullman and Kellogg as direct subsidiaries. In 1990, the entire Wheelabrator-Frye group was sold to Waste Management, Inc. The Pullman-Kellogg interests were spun off by Waste Management as Pullman Power Products Corporation, and by late 2004 that company was doing business as Pullman Power LLC, a subsidiary of Structural Group, a specialty contractor.

　

As a non-Pullman side note, other construction engineering portions of Pullman-Kellogg were spun off as a new M. W. Kellogg Corporation, and in December 1998, became part of the merger that formed Kellogg, Brown & Root, a specialty contractor which itself was later sold to Halliburton, an oil well servicing company. In an eventual competitive move, other Kellogg engineering interests were merged with Rust Engineering becoming Kellogg Rust, which itself became The Henley Group, and later Rust International before it became the Rust Division of what is today Washington Group International, a specialty contracting firm that competes directly with Halliburton worldwide. Washington Group International is the successor to the Morrison Knudsen civil engineering and contracting corporation, and is also the owner of Montana RailLink.

After the last of the Kellogg interests of Pullman-Kellogg were spun off, and after the railcar manufacturing plants were sold, and with the formal dissolution of the old Pullman Company (the operating company from the 1944 split), the remaining portions of the Pullman interests were spun off in May 1985 by Waste Management, Inc., into a new Pullman Company. In November 1985, Pullman bought Peabody International and the new company took the new name of Pullman Peabody. In April 1987 (after Pullman Technology was sold to Bombardier), the name was changed back to Pullman Company, which in September 1987 merged with Clevite Industries. By 1996, Pullman Co., with its Clevite subsidiary, was almost solely a supplier of automotive elastomer (rubber) parts, and in July 1996 the

2013 年4 月9 日 三菱ガス化学/三菱商事

トリニダード・トバゴにてメタノール／ジメチルエーテルの製造事業F/S に合意

　三菱ガス化学と三菱商事は、トリニダード・トバゴ共和国において、同国政府と、同国企業のNeal & Massy Holdings Limited とともに、メタノール年産能力100 万トン、ジメチルエーテル年産能力10 万トンの製造事業を検討することに合意しました。 本年度中に最終投資判断の上、2016 年度中の生産開始を目指します。
　メタノールは主に天然ガスから生産され、接着剤、農薬、塗料、合成樹脂、合成繊維の原料等幅広い用途に使用されています。また、ジメチルエーテルは、LPG 代替、自動車及び発電向けディーゼル燃料代替として大変注目されている次世代クリーンエネルギーです。三菱ガス化学、三菱商事、ニール・アンド・マッシーの3 社は、当プロジェクトにおいて生産されるメタノールを世界中で販売すると共に、トリニダード・トバゴ共和国政府と協力し、同国並びに周辺カリブ諸国において、ジメチルエーテルのディーゼル燃料代替促進に向けたプロモーションを行います。
メタノールの世界需要は年間約60 百万トンであり、今後も年率4-5%の成長が見込まれております。
　そのような状況下、同国の天然ガスを主原料として、基礎化学品であるメタノールや液化ガスであるジメチルエーテルを製造することは、同国並びに周辺カリブ諸国の経済成長を支えるとともに、世界的に伸長するメタノール需要を満たすことに貢献する意義の深いプロジェクトであると認識しています。今後も、同国政府、ニール・アンド・マッシーと連携して、本プロジェクトの実現に努めていきます。

ニール・アンド・マッシーの概要
(1)本店所在地 ： 63 Park Street, Port of Spain, Trinidad &Tobago, West Indies
(2)事業内容 ： 卸売、不動産、自動車販売・メンテナンス代理店、産業用ガス製造供給、ホテル経営等、幅広い事業をカリブ全域で展開
(3)代表者 ： Arthur Lok Jack
(4)設立 ： 1932 年
(5)従業員数 ： 8,988 名（連結ベース、2012 年9 月30 日時点）

    参考　　2013/3/9  SABIC/Sinopec のTrinidad and Tobagoメタノール計画 取り止め　

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08 April 2013 Caribbean New Media Group

Government signs Agreement with Japanese-led Consortium to set up Methanol and DME Plants in Trinidad and Tobago

The Ministry of Energy and Energy Affairs (MEEA), on behalf of the Government of the Republic of Trinidad and Tobago, has signed a Project Development Agreement with a Japanese-led Consortium — comprising Mitsubishi Gas Chemical Company Inc., Mitsubishi Corporation and Neal & Massy Holdings Limited — for the establishment of Petrochemical Plants for the annual production of one (1) million tonnes of Methanol and 100,000 tonnes of DiMethyl Ether (DME), in Trinidad and Tobago.

The Signing Ceremony for the Project Development Agreement (PDA) took place at 10.30 a.m. on Monday 08 April, 2013, at the Hyatt Regency in Port of Spain.

Other signatories to the Agreement are The National Gas Company of Trinidad and Tobago Limited (NGC) and National Energy Corporation of Trinidad and Tobago Limited (NEC) on the T&T-side. A new joint venture company, Caribbean Gas Chemical Limited, has been formed to undertake Phase I of the Project.

Capital expenditure for the initial phase of the Project is estimated to be in the vicinity of US$850 million. Subject to financing and environmental approvals, construction activity is expected to begin in Second Quarter 2014 at Union Industrial Estate in La Brea; plant startup is projected for 2016. Peak construction employment opportunities will be generated for some 3,000 persons, while permanent employment at the plant will be about 200 people.

DME has been described as a “next generation” clean fuel: it can be used as a replacement for Diesel in transportation and power generation, and a substitute for Propane in LPG. In addition, it can be used as an aerosol propellant as well as a refrigerant.