Coveris moves into Latin American market with Olefinas acquisition

MOSCOW (MRC) -- Coveris Holdings S.A., a leading global packaging and coatings solutions company, has acquired Olefinas, a leading agricultural plastics company with operations in Guatemala and Mexico, said Packworld.

Entering Latin America supports Coveris’ initiative to providing a full range of packaging solutions for agricultural products. This is the second new geographic market Coveris has entered in the past six weeks, following the recently announced acquisition of Elldex, a full-service flexible packaging company in New Zealand.

Olefinas manufactures packaging solutions for a full range of agricultural products, including tree bags, labels, twine, and aging ribbons for the banana industry, as well as mulch and fumigation films, insect traps, modified atmospheric packaging, and shrink films. Since 1959, Olefinas has been the pioneer of banana plastics and produces more than 300 million pounds of high value added products annually dedicated to enhancing crop yield.

"We consistently look for opportunities to better serve our growing customer base and expanding our market reach," says Gary Masse, Coveris CEO. Olefinas has more than 600 employees across its two locations in Guatemala City, Guatemala and San Luis Potosi, Mexico. Capitalizing on Coveris’ global strengths and Olefinas’ agricultural market expertise, this Latin American-based operation will be rebranded as COVERIS-Olefinas.

"Olefinas is thrilled to become part of this growing, global packaging company," says Clayton McNeel of Olefinas. "Olefinas has enjoyed tremendous success in our markets, and we are excited to continue our journey with Coveris."

The deal marks the second new geographic market Coveris entered in the past six weeks, following its recently announced acquisition of Elldex, a full-service flexible packaging company in New Zealand.

Coveris Advanced Coatings is a global leader in the development, manufacture and distribution of precision coated papers, films and speciality substrates for digital imaging, electronics, medical and optical technologies.
MRC

PTTGC restarted LLDPE plant in Thailand after maintenance

MOSCOW (MRC) -- PTT Global Chemical (PTTGC), Thailand's largest petrochemical maker, has restarted a linear low density polyethylene (LLDPE) plant following maintenance turnaround, as per Apic-online.

A Polymerupdate source in Thailand informed that the plant restarted on June 17, 2015. It was shut in the second week of May 2015.

Located at Map Ta Phut, the plant has a production capacity of 400,000 mt/year.

As MRC informed previously, PTTGC is in plans to shut a high density polyethylene (HDPE) plant for maintenance turnaround in mid-June 2015. It is likely to remain off-stream for around 2 weeks. Located at Map Ta Phut in Thailand, the plant has a production capacity of 300,000 mt/year.

PTT Global Chemical is a leading player in the petrochemical industry and owns several petrochemical facilities with a combined capacity of 8.45 million tonnes a year.
MRC

Hanwha to shut LDPE/EVA swing plants in South Korea

MOSCOW (MRC) -- Hanwha Chemical is in plans to shut two low density polyethylene/ethylene vinyl acetate (LDPE/EVA) swing plant for maintenance turnaround, as per Apic-online.

A Polymerupdate source in South Korea informed that while one plant is planned to be shut in September 2015, the other is likely to be shut in October 2015. Both are planned to remain off-stream for around 5-10 days.

Located at Ulsan and Yeosu in South Korea, the plants have a combined production capacity of 427,000 mt/year.

As MRC wrote previously, in November 2014, South Korea's Samsung Group said it was selling stakes in four chemical and defence firms for 1.9 trillion won (USD1.72 billion) to Hanwha Group, the latest move in the massive task of restructuring the country's largest conglomerate.

Hanwha Group, South Korea's 10th-largest conglomerate, said separately the acquisitions would boost its petrochemicals and defence-related businesses, and add around 12 trillion won in sales based on 2013 figures.
MRC

Clariant introduces unique low emission technology

MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has introduced GIFA unique low emission technology enabling foundries to reduce BTEX emissions from green sand systems by up to 80% and produce highest quality castings at optimum productivity, as per the company's press release.

Launched after four years' extensive field testing, casting additives GEKO LE and ECOSIL LE - Clariant's two-tiered bentonite solution - are proven to provide unmatched benefits for foundries looking to improve the ecological footprint of green sand molding, in line with increasing regulatory emission requirements and awareness regarding health and the environment. The additives, which are important for mold production and the subsquent separation of casting and mold material, also address demands for higher productivity, precision molds and thinner walled castings from the automotive industry. Over 50% of European-produced green sand castings were used for road vehicle production in 2013.

The benefits of Clariant LE Technology build on the unrivalled precision, smooth processability and surface finish, and easy shake out associated with Clariant's industry-trusted ECOSIL lustrous carbon former ranges and GEKO bentonite boosters for green sand castings.

The concrete benefits in using LE Technology in PSA are: the reduction of the BTEX emissions, the improvement of the molding and mold release accuracy, the reduction of the Premix consumption.

As MRC informed previously, in 2014, CB&I and Clariant announced that their new Ziegler-Natta (ZN) polypropylene catalyst plant in Louisville, Kentucky, is on schedule to begin production in 2015.

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.
MRC

Shell Chemical acquires land for proposed new Appalachia ethane cracker

MOSCOW (MRC) -- Shell is in the midst of a multi-year review of the site that includes environmental analysis, engineering design studies, evaluation of ethane supply and economic viability, said Hudrocarbonprocessing.

Previous site owner Horsehead Corp. has sold its land in Monaca, Pennsylvania, to Shell for a proposed petrochemical development, officials with Horsehead confirmed.

Terms of the deal were not disclosed. Horsehead used to operate a zinc smelter at the facility, which is located along the Ohio River in Beaver County northwest of Pittsburgh.

Shell is in the midst of a multi-year review of the site that includes environmental analysis, engineering design studies, evaluation of ethane supply and economic viability.

"This announcement marks another important milestone in the progress toward Shell's final investment decision to construct a world-class petrochemical facility on this site," said Dennis Yablonsky, CEO of the Allegheny Conference on Community Development and the Pittsburgh Regional Alliance.

"We appreciate Shell's continued confidence in our region as a competitive location for energy-related investment. We remain optimistic that this new facility will locate here."

If built, the facility would include an ethane cracker with an average capacity of 1.5 MMtpy of ethylene; three polyethylene (PE) units with a combined production of 1.6 MMtpy; and power and stream generation, storage, logistics, cooling water and water treatment, emergency flare, buildings and warehouses.

The proposed complex would be the first major US project of its type to be built outside the US Gulf Coast region in 20 years. Shell says locating the facility close to both supply and markets would reduce economic and environmental transportation costs and provide regional plastic manufacturers with more flexibility, shorter supply chains and enhanced supply dependability.

Shell would source ethane feedstock for the complex from the nearby Marcellus and Utica shale formations.
MRC