MEG production to post healthy growth through 2017

MOSCOW (MRC) - Ufaorgsintez owned by "United Petrochemical Company" (UPC), announced an increase in the contract prices of polypropylene (PP), effective from 16, June, according to ICIS-MRC Price Report.

The company raised its contract PP prices by Rb300-500/tonne, compared with the level of 1, June.
Contract prices of homopolymer PP increased by Rb500/tonne, prices for extrusion PP random copolymers grew by Rb300/tonne.

Contract prices of low density polyethylene (LDPE) remained steady.

Ufaorgsintez OAO manufactures organic synthesis products in Russia and Europe. Its products include ethylene, propylene, ethanol, cumol, ethyl benzol, phenol, acetone, copolymer rubber, polyolefines, polyvinyl chloride and polyethylene items, thinners, and dilutants. The plant's annual polypropylene (PP) production capacity is 100,000 tonnes. Ufaorgsintez's overall output of polyethylene (PE) and PP totalled 37,000 tonnes and 53,800 tonnes, respectively, over the first five months of 2014.

Ufaorgsintez OAO was founded in 1956 and is based in Ufa, Russia. As of January 22, 2010, Ufaorgsintez OAO operates as a subsidiary of Bashneft Joint Stock Oil Company. "United Petrochemical Company" (UPC) owns 87.76% of Ufaorgsintez"s registered capital. Bashneft sold Ufaorgsintez's stake to UPC in May 2013.
MRC

MOSCOW (MRC) -- Arkema, a France-based chemical manufacturer, has added Kynar 740 E to its Kynar PVDF polymer range developed for drinking water systems, as per the company's statement.

This grade aptly combines mechanical strength with fluidity, making it perfectly suited to the extrusion process.

Kynar 740 E is especially suitable for the manufacture of multilayer pipes for the transport of drinking water. It has recently been granted a KTW (Kunststoffe und Trinkwasser) certificate, a German approval for raw materials in contact with drinking water, added to its existing food compatibility certification at European level.

The main asset of Kynar for this application lies in its purity and the absence of additive during processing. Water supply pipes with a Kynar 740 E inner layer offer the following key properties: outstanding resistance to water treatment products throughout their lifetime, organoleptic inertness (no taste is passed to the water), and ability to delay the growth of bio-film, a thin layer of bacteria colonizing the inner wall of pipes.

Kynar PVDF is already used today by water supply companies in France for over half the service connections linking up watermains to homes.

As MRC reported earlier, last November, Arkema presented its new PVDF film for photovoltaic panel back sheets. The lifetime of solar panels spans 25 to 30 years: therefore its components have to deliver long-lasting top performance. A challenge taken up successfully by Arkema thanks to its Kynar PVDF film for PV panel backsheet protection. Kynar polyvinylidene fluoride (PVDF) film is a key element in the design of the panel for back sheet protection.

Besides, earlier, Arkema had teamed up with German company Krempel to develop a unique back sheet, branded KPK comprising two Kynar films over a polyethylene terephthalate (PET) core film.

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.
MRC

MOSCOW (MRC) -- AkzoNobel, one of the world's leading paint and coatings makers, has announced the appointment of Maelys Castella as the company’s new Chief Financial Officer, reported the company on its site.

She will officially take up the position on September 15.

Maelys Castella succeeds Keith Nichols, who announced his intention to leave AkzoNobel on January 15, 2014. She has worked at Air Liquide for the last 14 years, most recently as Group Deputy CFO. Her previous posts there include Europe Chief Financial Officer and Corporate Finance and Treasury Director.

Commenting on the appointment, AkzoNobel CEO Ton Buchner said: "We're delighted to have appointed Maelys as the company's CFO. She brings a wealth of experience in finance and will add fresh impetus to our ongoing commitment to improve operational excellence and drive value creation."

As MRC informed previously, Akzo Nobel NV said that first-quarter net profit was up 45% on lower financing costs, while revenue fell 2% because of currency losses and despite higher volumes in all of its businesses. Net profit for the first three months of the year was EUR129 million (EUR178 million) compared with EUR89 million a year earlier.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.
MRC

MOSCOW (MRC) -- Russia’s fifth-ranked oil producer Tatneft boosted its first-quarter profits by 44%.
The London-listed company reported consolidated profit attributable to shareholders of 24.4 billion roubles (USD698 million) versus 17 billion roubles a year earlier, said Upstreamonline.

Tatneft’s revenue increased by about 10% year on year to 117 billion roubles.

As MRC wrote before, Tatneft was named as the top downstream firm in Eastern Europe for 2012 by World Finance Magazine.

Last year the company officially opened four new fuel service stations in the Yaroslavl region of the Russian Federation. The four stations are located on either side of the M-8 "Holmogory" highway near the city of Yaroslavl and in Rybinsk. The stations sell premium gasoline of AI-95 and AI-92 grades as well as diesel fuel. Bank cards and fuel cards are accepted for payment and a flexible discounts system for fuel is offered to the customers.

Tatneft is a Russian vertically-integrated oil and gas company with headquarters in the city of Almetyevsk, in the Republic of Tatarstan. It is the fifth largest oil company in Russia.
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