Perstorp underlines commitment to China

MOSCOW (MRC) -- Perstorp, a world leader in specialty chemicals, such as Capa, will be highlighting at UTECH Asia/PU China 2014 its growing commitment to China as the company’s production platform in Zibo is being expanded to include a new neopentyl glycol (Neo) plant, reported the company on its press release.

Perstorp in China has also re-enforced its sales organization in order to better meet local customer needs. As a well-established brand in the Chinese market for more than 25 years, Perstorp has been producing TMP (trimethylolpropane) in China since 2008.

Capa is a very versatile specialty polyol, with a focus on demanding TPU (thermoplastic polyurethane), polyurethane coatings and cast elastomer applications such as automotive seals and gaskets, synthetic leather and textile coatings, and wheels and rollers.

Capa polycaprolactones are flexible and versatile in both product applications and production. It offers excellent mechanical properties and easy processing for faster cycle times in injection molding. They also possess low viscosity, resulting in improved processability and lower VOC levels together with improved UV and chemical resistance.

As MRC reported before, in February 2014, Perstorp introduced a new business model, a new organizational structure, a new management team and a cost competitiveness program.

Besides, in September 2013, Perstorp launched Pevalen as a non-phthalate plasticizer meeting market demand in sensitive applications. Pevalen is a plasticizer based on well-proven, reliable chemistry. As a non-phthalate plasticizer alternative it does not compromise performance in any way. In fact performance is equal to or better than other plasticizers used today.

Perstorp is one of the world leaders in various sectors of the specialty chemicals market, it's pioneer in formalin chemistry, plastics and surface materials. Perstorp was founded in 1881 and is controlled by PAI partners,a major European private equity company. The company has around 1,500 employees in with 22 production plants in Europe, Asia and North America.

Clariant reinforces plastics potential for Chinese automotive producers

MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, is introducing China’s local automotive and transportation industry players to solutions which enhance lightweight plastics for under-the-hood, interior and exterior parts, in support of their increasing interest in using plastics and polymer-based components to achieve greater fuel efficiency, reported the company on its site.

The global automotive industry is embracing plastics in the trend toward weight reduction, metal replacement and energy reduction. Plastics also support improved aesthetics, vibration and noise control, and cabin insulation. In 2011, plastics made up 12-15% of modern cars. This is expected to ultimately increase to more than 20% in the future. In 2005, the global consumption of plastic per car was 150kg, rising from 105kg in 2000. During the next decade, it is expected that plastics will account for 18 percent of the average vehicle’s weight, up from 14 percent in 2000.

European and American OEMs and Tier 1 suppliers are already taking advantage of the performance, productivity and associated environmental benefits offered by Clariant’s wide range of additives and solutions for plastics and polymer-based components. These range from productivity improvements generated through lower molding temperatures and shorter cycle times, to facilitating the development of parts with environmentally-friendly flame retardancy, superior thermal resistance and smoother surfaces. Clariant offers solutions for the most commonly used plastics - polypropylene (PP), polyamides (PA), polyurethanes (PUR) and acrylonitrile butadiene styrene (ABS) - which account for 70% of the plastics used in a car, and the composites and higher-end plastics which account for the rest.

Michael Grosskopf, Head of Business Unit Additives, Clariant comments: "More than 22 million cars and commercial vehicles were produced in China in 2013. That’s a significant increase of 14.8% on 2012. Plastics offer this fast-growing sector a viable, cost-effective response to the drive by both global OEMs and local players for optimum fuel efficiency and greater sustainability in their operations. Clariant is well-prepared to support the growing demand, with solutions that clearly enhance the performance of polymers to meet the demanding requirements of the automotive industry."

As MRC informed previously, Clariant is increasing production capacity for its Licocene Performance Polymers by 50% at its facility on the Frankfurt-Hochst Industrial Park in Germany. The debottlenecking of Clariant’s existing production line represents a low double-digit million Swiss Franc investment, with the additional capacity scheduled to come on stream in Q1 2016.

Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.

Vung Ru refinery project breaks ground in Vietnam

MOSCOW (MRC) -- Work has started on the Vung Ro refinery complex- a USD3.2 bln petrochemical refinery complex in the central province of Phu Yen, as per Plastemart with reference to the Vietnam News Agency.

It is designed to produce 8 mln tpa of products, including polypropylene, benzene, toluene, petrol RON 92 and RON 95.

The refinery complex is expected to commence operation in 2017.

As MRC informed previously, INEOS Technologies had licensed its Innovene PP process for the manufacture of homopolymers, random copolymers and impact copolymers to Vung Ro Petroleum Ltd. at its refinery complex located in Hoa Tam Commune, Dong Hoa District of Phu Yen Province, Vietnam.

The 900,000 Innovene PP plant will produce a wide range of polypropylene grades to serve the growing demand in the Asian market.

Russian tycoon Timchenko reduces stake in petrochemical company Sibur

MOSCOW (MRC) -- Russian tycoon Gennady Timchenko has cut his stake in petrochemical company Sibur, the firm said in a statement on Friday.

Timchenko, who is on the U.S. sanctions list, sold his 17 percent stake to a company controlled by Kirill Shamalov, deputy CEO at Sibur. Shamalov will own 21.3 percent of the company following the deal.

Sibur did not disclose the price.

Timchenko will keep a 15.3 percent stake, with Novatek co-owner Leonid Mikhelson owning another 50.2 percent, while current and former Sibur managers, excluding Shamalov, have 13.2 percent.

Earlier this year, Timchenko, an ally of Russian President Vladimir Putin, sold his stake in commodities trader Gunvor.

As MRC wrote before, Sibur, 57.5% controlled by Russian billionaire Leonid Mikhelson, has reached an agreement with state owned Russian oil company Rosneft to acquire its’ 49% interest in their Yugragazpererabotka gas processing joint venture. The interest has been held by Rosneft-owned RN-Holding, formerly TNK-BP.

Sibur is a vertically integrated gas processing and petrochemicals company, which operate Russia's largest gas processing business in terms of associated petroleum gas processing volumes and are the leader in the Russian petrochemicals industry.

Chinese producers increased export PVC prices

MOSCOW (MRC) - Last week Chinese producers announced an increase in export prices of acetylene polyvinyl chloride (PVC) for September deliveries to Russia of USD10-20/tonne, according to ICIS-MRC Price Report.

Chinese producers of acetylene PVC quite a long time held their export prices for the Russian market at USD810-860/tonne DAP Dostyk. Talks on the possible price rise have been held since July, but the real increase in export prices PVC producers in the north of China announced only late last week.

Deals for September PVC prices for Russia were discussed in the range USD830-870/tonne DAP Dostyk, up USD10-20/tonne above the August price level.

Some market participants said that increase in export prices from Chinese producers resulted from the reduction in import duty to 6.5% in the countries of the Customs Union (Russia, Belarus and Kazakhstan).

At the same time, the price rise is not big and dictated to a greater extent the desire to maintain their position in the Russian market in the conditions of the next wave of the weakening of the Russian rouble.