Styrolution equips the new Jeep Renegade 2016

MOSCOW (MRC) -- As the leading styrenic material solution provider to the automotive industry, Styrolution is the exclusive supplier for mirror and pillar coverings on the new 2016 Jeep Renegade, as per the company's press release.

The new SUV was introduced to the Brazilian market in April and is manufactured at Jeep’s factory in in Pernambuco, Northeast Brazilian state.

Luran S 778T is an ideal material for automotive exterior applications: The Renegade’s rearview mirror and coverings for its B & C pillars use Luran S 778T, a customized formulation of acrylonitrile styrene acrylate (ASA) from Styrolution.

This specialty styrenic material boasts superior weathering, impact and chemical resistance when compared with other polymers. Styrolution offers the broadest portfolio of ASA products in the automotive industry with standard and customized products to meet the rigorous demands of the market. Products can be formulated with enhanced UV stability, such as SPF 30 and SPF 50, to further increase protection from UV exposure. Luran S also offers excellent design flexibility due to its colorability and dimensional stability. Further, the material provides good surface adhesion, making it possible for car manufacturers to overlay the Luran S substrate with a hot-stamped foil for decorative features on exterior parts, such as front grilles.

Paulo Motta, Business Director, South America, Styrolution: "Automotive customers require styrenic polymers that offer greater design flexibility, enhanced material performance and premium aesthetics. The Jeep brand is known for its rugged and sporty look, making it staple for outdoor and off-road enthusiasts. This raises the bar for material performance, making Luran S an ideal polymer for these exterior applications. Feiplastic 2015 is an outstanding platform for Styrolution to showcase our products, expertise in styrenics and cutting-edge customer applications like those of Jeep."

We remind that, as MRC wrote before, in May 2014, Styrolution inaugurated a new line for the high performance styrenic specialty product Absolan at its Katol site located in Gujarat, India. The new 40,000 mt line intends to meet the growing demand for Absolan across key growth industries in India, such as household, electronics, automotive. Absolan customers will benefit from improved local service and greater security of supply.

The Styrolution Group GmbH is a global provider of styrenics , headquartered in Frankfurt am Main. In mid-November 2014, Ineos completed the purchase of BAS's 50% share in Styrolution, a joint venture between the companies. Styrolution's main focus is on the production of monomer, polystyrene, styrenic specialties, and ABS. The company offers styrene plastics for a variety of everyday products from different industries, such as automotive, electronics, construction, household, leisure, packaging, medicine and health.
MRC

MOSCOW (MRC) -- Hyundai Cosmo Petrochemical (HCP) is in plans to restart its No. 2 paraxylene (PX) plant, reported Apic-online.

A Polymerupdate source in South Korea informed that the plant is planned to be restarted in early June 2015. It was shut in early April 2015 for maintenance turnaround.

Located at Daesan in South Korea, the plant has a production capacity of 800,000 mt/year.

As MRC wrote previously, this PS plant jointly built by Cosmo Oil and Hyundai Oilbank in South Korea began commercial operations in January 2013.

Paraxylene is used in producing polyester, a raw material for plastic bottles and textiles.

Hyundai Cosmo Petrochemical (HCP) is a 50-50 venture between Japan’s Cosmo Oil and South Korea’s Hyundai Oilbank.
MRC

MOSCOW (MRC) -- LyondellBasell, the world’s biggest maker of polypropylene plastic, has announced that its Supervisory Board has authorized the company's Management Board to declare an interim dividend of USD0.78 per share, representing an 11% increase from the company's first quarter 2015 dividend, reported the company on its site.

The interim dividend will be paid June 15, 2015 to shareholders of record June 1, 2015, with an ex-dividend date of May 28, 2015.

The company also announced that at its Annual General Meeting on May 6, 2015, shareholders approved a new share repurchase program authorizing the company to repurchase up to 10% of the company's shares over the next 18 months. The repurchases will be executed from time to time through open market or privately negotiated transactions.

"The company has returned approximately USD17.2 billion through share repurchases and dividends since January 2011 and, since initiating share repurchases in 2013, has repurchased approximately 110 million shares. This new share repurchase program and the increase in the regular interim dividend is reflective of our continuing commitment to returning value to our shareholders," said CEO, Bob Patel.

As MRC informed before, last summer, LyondellBasell delayed the start-up of expanded production at its ethylene plant in La Porte, Tex. because of a mechanical issue with a compressor at the plant, which was partially to blame for the extended turnaround at La Porte.

LyondellBasell Industries NV is a manufacturing company. The company produces chemicals, fuels, and polymers used for packaging, clean fuels, durable textiles, medical applications, construction materials, and automotive parts. LyondellBasell Industries operates globally and is headquartered in the Netherlands. LyondellBasell is also a leading licensor of polypropylene and polyethylene technologies. The more than 250 polyolefin process licenses granted by LyondellBasell are twice that of any other polyolefin technology licensor.
MRC

MOSCOW (MRC) -- Ferro Corporation has signed a definitive agreement with the shareholders of Barcelona-based Nubiola Pigmentos to acquire 100% of the equity of Nubiola, on a cash-free and debt-free basis, for EUR146 million, the company announced.

Nubiola is among the worldwide producers of specialty inorganic pigments and the among the world’s largest producers of Ultramarine Blue, a high-value pigment for plastics and construction industries due to its durability, unique color attributes and its whitening capability. Based on 2014 EBITDA, excluding expected transaction synergies, the acquisition purchase price represents a transaction multiple of approximately 7X. The transaction will be funded with excess cash and a draw on the Company’s existing revolving credit facility. The transaction is expected to close within the next 60 days, subject to customary closing conditions.

Other products of Nubiola include specialty Iron Oxides, Chrome Oxide Greens and Corrosion Inhibitors. Nubiola generated 2014 annual sales of $119 million, based on the current euro exchange rate, and achieved compound annual growth of 4.1% over the last three years. The 101-year-old family-owned company employs approximately 750 people, including temporary employees, and has production facilities in Spain, Colombia, Romania, and India and a joint venture in China. Nubiola sells into more than 85 countries. The majority of Nubiola’s customers serve the plastics and construction industries.

Commenting on the proposed transaction, Peter Thomas, Chairman, President and CEO of Ferro Corporation, said, "Nubiola is an excellent strategic fit with Ferro, as we strengthen our position as a global color solutions provider. The acquisition will significantly expand our product portfolio and geographic footprint and more than triple the size of our addressable market in inorganic pigments to greater than $1 billion. Nubiola will bring technology leadership on a global scale in Ultramarine Blue, along with a range of other high-value pigment and corrosion inhibitor product lines."

As MRC informed earlier, in 2014 A. Schulman, Inc. completed its acquisition of a selected majority of the assets of the Specialty Plastics business segment from Ferro Corporation for USD91 million in cash.

Ferro provides manufacturers cars, containers and packaging, building and industrial products, household furnishings, personal electronics to medical devices.
MRC

MOSCOW (MRC) -- EU countries will be required to reduce the use of the commonest and most polluting plastic bags drastically under new rules voted by Parliament, as per EP's press release.

"This legislation will create a genuine win-win situation" said Margrete Auken (Greens/EFA, DK), who is steering the legislation through Parliament. "We're talking about an immense environmental problem. Billions of plastic bags end up directly in nature as untreated waste. It damages nature, harms fish, birds, and we have to get to grips with this",. she added, after Parliament accepted her second reading recommendation that it endorse the deal struck with the Council of Ministers in November last year.

"The European Commission said that countries should deal with the matter themselves, but in fact they are not! 740 million euros per annum, according to the Commission's own calculations, will be saved".

EU member states will be able to choose: either to take measures to reduce annual average consumption of plastic bags to 90 lightweight bags per citizen by the end of 2019 and 40 by the end of 2025, or ensure that by the end of 2018, no more light plastic bags are handed over free of charge to shoppers.

Furthermore, the European Commission is required to assess the impact on the environment of oxo-degradable plastic materials, which fragment into small particles, and propose suitable measures. By 2017, the European Commission will have to propose labelling and marking measures for an EU-wide recognition of biodegradable and compostable plastic bags.

Lightweight plastic bags thinner than 50 microns – the vast majority of plastic carrier bags used in the EU – are less reusable than thicker models and become waste more quickly. They are also more prone to litter the environment and severely pollute water bodies and aquatic eco-systems.

In 2010 every EU citizen used an estimated 198 plastic carrier bags, some 90% of which were lightweight. In a business-as-usual scenario, consumption of plastic bags is expected to increase further. An estimated eight billion plastic carrier bags became litter in the EU in 2010.
MRC