New anti-dumping duties announced in India on PVC imports

MOSCOW (MRC) -- Indian government announced the new anti-dumping duties on PVC imports following sunset investigations, said Plastemart.

Anti-dumping duties on PVC imports expired on January 23, 2014 and they had been suspended since then as the sunset investigation was extended several times. Players reported that the Indian government has implemented anti-dumping duties on PVC imports, with the variation in duties from the same country due to the assessment of anti-dumping duties according to individual producers.

A trader commented, "We heard that PVC imports from Formosa, Hanwha, LG, Vietnam and Iran would be exempted from anti-dumping duties. The anti-dumping duties on US cargoes were lowered from USD45/ton to USD30/ton and duties on Japanese PVC were reduced from USD130/ton to USD15/ton. Meanwhile, the anti-dumping duties on Chinese PVC were raised to USD90-130/ton."

Regarding European material, the new anti-dumping duties are set as USD190/ton while imports from Ineos will be subject to duties of USD48/ton. The anti-dumping duties on US PVC imports are set as USD38/ton for Westlake Chemical and as USD119/ton for OxyChem.

In 2013, the Ministry of Finance (Department of Revenue) Government of India vide its Notification No. 25/2013 -Customs dated 8th May 2013 increased the Customs Duty on Plastic Polymers (except Polycarbonate) from 5% to 7.5%.

Import PVC prices are holding steady in India while trading activities remain muted as buyers were taking a cautious stance towards import cargoes during the period when the anti-dumping duties were suspended. Traders confirmed that demand was slower compared with the same period of last year during the period but added that they expect to see an improvement in buying interest now that the government has made an official announcement on the subject. However, general elections will be held in India between April 7 and May 12 which will also influence demand conditions.

Arkema developed two new grades of functional polyolefins resins

MOSCOW (MRC) -- Arkema, a France-based chemical manufacturer and the world’s second leading producer of organic peroxides, has developed two new grades - Luperox organic peroxides and Kynar Flex PVDF resins -specifically designed for electric and electronic wires and cables applications, accoridng to the company's statement.

Arkema will present its latest innovative functional polyolefins at trade fair WIRE 2014 among its extensive range (Orevac, Lotryl, Lotader and Evatane trade names) used to manufacture all types of cables whatever their end-application: halogen-free flame retardant (HFFR) cables compliant with the latest fire standards in buildings, cars and telephone networks, medium and high voltage cables, telephone and photovoltaic cables.

As MRC informed previously, in January 2014, Arkema announced the construction of a new organic peroxide plant on its Changshu site in China. By doubling its production capacity in China, Arkema will continue to support the strong growth in the organic peroxide market in Asia, a region in which the Group is also a producer in India, South Korea and Japan. The new Changshu plant is due to come on stream in early 2016.

Besides, in November 2013, Arkema officially started its new 60,000 MTY emulsion polymers facility on its Changshu platform. The plant, part of Arkema’s Coating Resins business unit, will serve customers in the Asia Pacific region with a full line of waterborne emulsion polymers for coatings and adhesives applications.

Arkema with annual revenue of EUR6.4 billion is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. Arkema operates 11 organic peroxide plants on the three continents.

BASF and Sinopec inaugurate acrylic acid and SAP plants in Nanjing, China

MOSCOW (MRC) -- BASF and Sinopec inaugurated two new plants for acrylic acid and superabsorbent polymers (SAP) at their state-of-the-art Verbund site, BASF-YPC Co., Ltd., a 50-50 joint venture in Nanjing, China. Additionally, a new butyl acrylate plant will begin production later this year, according to the companie's press-release.

The new plants will further strengthen the C3 (propylene) value chain and serve the growing downstream demand. With an annual capacity of 60,000 metric tons, the new SAP plant will serve growing demand in China for baby diapers, adult incontinence products and feminine care products.

"BASF is investing in Asia Pacific to produce 75% of our Asia Pacific sales locally, in order to ensure faster, more energy-efficient, more reliable supply. With the start-up of these projects, we continue to build on the success of our strong partnership with Sinopec, and reinforce our commitment to serving the hygiene industry in China and Asia as well as around the world," said Albert Heuser, President, Greater China and Functions Asia Pacific, BASF.

"The start-up of these projects will continuously improve the company’s ability to meet the demands of our customers. It will create new opportunities for sustainability and will make a positive contribution to clean production. It will also enhance industrial development," said Chang Zhenyong, Vice Chief Engineer, Director of Chemical Department, Sinopec Corporation.

At the BASF-YPC Verbund site in Nanjing, SAP, butyl acrylate and acrylic acid production will be backward integrated into the manufacturing of C3. This ensures greater supply reliability, energy efficiency, and cost effectiveness, while minimizing energy use and environmental impact.

We remind that BASF and Sinopec are considering the extension of their Nanjing joint venture BASF-YPC Company with the expansion of existing ethylene oxide (EO) production, and a new plant for neopentylglycol (NPG). BASF-YPC will further expand its acrylic acid value chain with additional acrylic acid and butyl acrylate plants. Production is expected to commence in 2014.

BASF-YPC Co., Ltd. is a 50-50 joint venture between BASF and Sinopec, founded in 2000, with a total investment of USD4.5 billion. The integrated petrochemical site produces 3 million tons of high-quality chemicals and polymers for the Chinese market annually. The products serve the rapid-growing demand in multiple industries including agriculture, construction, electronics, pharmaceutical, automotive and chemical manufacturing.

Sinopec is one of the largest integrated energy and chemical companies with upstream, midstream and downstream operations in China. Its principal operations include: the exploration and production, pipeline transportation and sales of petroleum and natural gas, petrochemical and chemical products.

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF had sales of about EUR74 billion in 2013 and over 112,000 employees as of the end of the year.

Evonik seeks shareholder permission to issue stock for M&A deals

MOSCOW (MRC) - Evonik will ask shareholders' permission to issue up to one quarter of its current equity capital in new shares over the next five years, as the German chemicals maker scans the market for takeover targets, said Reuters.

Chief Executive Klaus Engel said last month that larger takeovers were an option for the maker of feed additives, clear acrylic sheet and high-tech plastics.

Based on the current share price, a 25% stake would be worth 3.3 billion euros (USD45.2 billion) but a capital increase is typically priced at a discount to the trading price.

Since Evonik was debt free at the end of last year, it would have considerable leeway to take out additional bonds or loans for any merger deal.

If given the green light by investors, the permission to raise capital would be valid until May 2019, the invitation to shareholders for the May 20 annual general meeting showed.

Any capital increase would require the consent of the supervisory board.

The new shares could be issued against cash but could also be used as currency to be offered to shareholders of any merger partner, the invitation said.

As MRC informed before, Evonik Industries is paving the way for a new technology whose applications include automotive finishes that are more scratch-resistant than ever before. The specialty chemicals company has developed an industrial-scale method for producing silane-modified binders for automotive finishes. The advantage of these silane-modified binders: silane groups increase crosslinking density, making it possible to create automotive finishes that are flexible yet harder, leading to improved scratch resistance.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion. Evonik is 68%-owned by the RAG foundation, a public sector trust that will finance the cost of maintaining Germany's abandoned coal mines. Buyout firm CVC holds an 18%stake.

Borealis and Borouge showcase Fibremod solutions for Jaguar F-Type at VDI Mannheim

MOSCOW (MRC) -- Borealis and Borouge, leading providers of innovative, value-creating plastics solutions, have developed important material solutions to address specific challenges faced by the global automotive industry, said Yourindustrynews.

At the VDI International Congress "Plastics in Automotive Engineering" in Mannheim, Germany taking place on April 2-3, Borealis will highlight an innovative Fibremod solution developed for the Jaguar F-Type model in close cooperation with Draxlmaier, the Tier One supplier. Other important product innovations in surface aesthetics will also be showcased, with focus on tiger stripe-free surfaces, moulded in colour and primerless two-layer paintability. Material solutions offered by Borealis and Borouge help automotive manufacturers achieve defect-free surfaces while at the same time capitalising on the benefits of lower production and system costs as well as reduced environmental impact, by way of overall vehicle weight reduction and optimised cycle times.

The Fibremod family of engineered short (SGF) and long glass fibre (LGF) compounds was officially launched in September 2013. Fibremod stands for both the name of a material category as well as the ability of Borealis and Borouge to transform or modify a specific grade to fit and exceed the needs and requirements of its customers. Borealis' proprietary LGF process technology makes it possible to tailor highly engineered polypropylene (PP) grades in order to meet the unique challenges of individual customer projects.

"Fibremod innovations support our partners and customers along the entire automotive value chain in their efforts to make vehicles lighter, reduce processing temperatures and energy requirements, all while reducing system costs," explains Jost Eric Laumeyer, Borealis Global Marketing Manager Engineering Applications. "Our customised glass fibre reinforced PP solutions are at the cutting edge of innovation, bringing lightweight, extra strength and impact performance to a wide range of automotive and appliance applications."

We remind that Borealis and Borouge announced the dedicated roll-out of the technology platform Borlink in Russia. Borlink was introduced by Borealis and Borouge as a technology platform offering a complete global package of power cable compounds and expertise serving applications for medium and high voltage (MV, HV), including extra high voltage (EHV) and high voltage direct current (HVDC).

Borouge is a joint venture between the Abu Dhabi National Oil Company (ADNOC), one of the world’s major oil and gas companies, and Austria based Borealis, a leading provider of chemical and innovative plastics solutions, Borouge is a groundbreaking at the forefront of the next generation of plastics innovation.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. Borealis is headquartered in Vienna, Austria, and operates in over 120 countries with around 5,300 employees worldwide.