LyondellBasell completes acquisition of SJS Plastibends

MOSCOW (MRC) -- LyondellBasell, one of the world’s largest plastics, chemical and refining companies, announced the acquisition of SJS Plastiblends Pvt. Ltd. (SJS), thereby advancing the Company’s position in India’s expanding automotive market, said LBI.

In August, LyondellBasell announced a definitive agreement to acquire SJS, a polypropylene (PP) compounds manufacturer located in Aurangabad, Maharashtra, India.

"This acquisition underscores our strategy of investing in growth projects that provide a competitive advantage in targeted markets and a strong return on assets," said Bhavesh (Bob) Patel, CEO and chairman of the management board of LyondellBasell.

India represents the fourth largest growth market for automobiles globally with 3 million new vehicles produced each year. According to IHS Inc., India’s automotive market is expected to continue growing by 6 to 8 percent annually through 2021. Additionally, the World Bank has predicted India’s GDP to grow at a rate of 8 percent by 2017.

The Aurangabad compounding plant has an annual production capacity of approximately 12,000 metric tons (26 million pounds). In addition to the already existing product lines, the facility will produce LyondellBasell’s Hostacom glass fiber-reinforced, mineral filled and unfilled colored grades as well as Hifax high impact thermoplastic olefins. These products are used in the manufacture of automotive parts, home appliances and other applications.

LyondellBasell is the world’s largest producer of PP compounds with an annual capacity of 1.2 million metric tons (2.4 billion pounds). LyondellBasell has supplied the Indian market through imports and tolling arrangements since 2009.

LyondellBasell is one of the world’s largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell manufactures products at 56 sites in 19 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.
MRC

Sumgait Chemical Industrial Park and SOCAR Polymer to cooperate

MOSCOW (MRC) -- Baku, Fineko/abc.az. Sumgait Chemical Industrial Park and its resident SOCAR Polymer LLC have signed an agreement, said Abc.az.

SCIP informs that in accordance with the agreement the Sumgait Park undertook to support the activities of SOCAR Polymer.

On the SCIP territory SOCAR Polymer plans to produce 200,000 tons of polypropylene and 120,000 tons of high density polyethylene. Withi the project the production of polypropylene will begin in 2017 and polyethylene in 2018.

As MRC informed earlier, within the complex, a gas processing plant and a petrochemicals plant are due to be completed by 2020 instead of 2017, and an oil refinery by 2030 instead of 2026. Industry sources say the new petrochemical complex will allow the country to profit from processing oil rather than just exporting it.

SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
MRC

Dow opens systems house south of Sahara

MOSCOW (MRC) -- Dow Chemical Co. opened its first systems house south of the Sahara desert and is expanding its presence in the region, said Rubbernews.

It is designed to help Dow respond to the specific needs of African customers and will act as the "hub to provide the sub-Saharan region with tailor-made polyurethane systems," said Jonathan Penrice, global vice president for polyurethanes at Dow.

Dow Polyurethanes says it is also growing the size of its sales team.

The move comes ahead of the first product to be produced by Dow’s Sadara joint venture in Saudi Arabia which is scheduled to start production of polyols in 2016 and isocyanates in 2017.

As MRC informed earlier, Olin Corp. expects to close on its acquisition of Dow Chemical's chlorine operations early next month. Dow gets USD2 billion of cash and cash equivalents; an estimated USD2.2 billion in Olin common stock and about USD800 million of pension assumptions and other liabilities. The sale includes Dow's U.S. Gulf Coast chlor-alkali and vinyl, global chlorinated organics and global epoxy businesses. The new company will have annual revenue of nearly USD7 billion.

The Dow Chemical Company is an American multinational chemical corporation headquartered in Midland, Michigan, United States. Dow is a large producer of plastics, including polystyrene (PS), polyurethane, polyethylene (PE), polypropylene (PP), and synthetic rubber. EBITDA was up 15% in 4Q at USD2.4 bn. Net profits were down 24% at USD734. Dow's sales in 4Q were unchanged on a year earlier at USD14.38 bn.
MRC

Evonik Industries to build second world-scale methionine plant in Singapore

МОSCOW (MRC) -- Evonik Industries has started the planning stage for the construction of an additional world-scale plant complex in Singapore, sid the producer in its press release.

The facility, which will produce the amino acid DL-methionine for animal nutrition, will have an annual production capacity of 150,000 metric tons and is expected to start operations in 2019. It still requires authorization from the Evonik committees.

With this decision Evonik follows the global megatrends of health and nutrition, which are driving the growth of the DL-methionine business. With the timely and demand driven expansion of capacities over the past few years Evonik has continuously accompanied this strong market growth. "We are convinced that the market for DL-methionine will continue to show dynamic growth, and we want to contribute to meeting the global demand for this product, which is indispensable for efficient and sustainable animal nutrition worldwide," says Klaus Engel, the Chairman of the Evonik Executive Board. Evonik sells DL-methionine under the brand name MetAMINO.

Evonik’s most recent methionine plant took up its operations in Singapore in the fourth quarter of 2014 after a two-year construction period—precisely as planned—and operations are utilized according to plan. "The new complex will allow us to accompany market growth and further strengthen customer relations. As a reliable partner to our customers, we are of the strong conviction to realize this project in the given time frame as well," said Dr. Reiner Beste, the Chairman of the Board of Management at Evonik Nutrition & Care GmbH. In its new, backward-integrated production complex, Evonik will also produce all associated strategically relevant precursors.

The construction of the plant complex is planned next to the existing Evonik methionine plant on Jurong Island in Singapore. The location in Singapore allows Evonik to serve especially Asian growth markets well. The specialty chemicals company produces DL-methionine at world-scale plants in Antwerp (Belgium), Wesseling/Cologne (Germany), Mobile (Alabama, USA), and Singapore.

As MRC informed earlier, Evonik Industries is making an investment in the double-digit-million euro range in a new research center at the Rheinfelden site. Starting at the beginning of 2016, research into silanes will be carried out in modern laboratories in the four-story building.

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. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. 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.
MRC

ChemChina acquires 45 million Pirelli shares

MOSCOW (MRC) -- Marco Polo Industrial Holding S.p.A., the vehicle China National Chemical Corp. (ChemChina) is using to buy Pirelli & C. S.p.A. shares, has struck two deals comprising more than 45 million Pirelli shares, said Rubbernews.

The deals, covering shares owned by certain investment funds controlled by investment management firm Paulson & Co. Inc., are set to close Oct. 6 at the agreed-upon price of 15 Euros per share, or USD764 million, according to a statement by Pirelli.

The deals cover 45.1 million ordinary shares and 190,307 savings shares, according to the statement, issued by Marco Polo Industrial Holding on Pirelli’s behalf.

Marco Polo Industrial Holding is a company indirectly controlled by ChemChina’s China National Tire & Rubber Co. Ltd. subsidiary set up to carry out ChemChina’s offer for control of Pirelli.

ChemChina’s offer opened Sept. 9 and runs through the end of trading on Oct. 13, "barring extensions of the voluntary bid."

According to notice posted by the Commissione Nazionale per le Societa e la Borsa (Consorb) a few weeks ago, Marco Polo Industrial Holding controlled 26.2 percent of Pirelli’s ordinary shares, through its purchase outright of 96.8 million shares controlled by Italian investment company Camfin S.p.A. and via indirect control of additional shares through an investors’ consortium.

As MRC informed earlier, Rosneft, Pirelli S.p.A. and Synthos S.A. signed a Memorandum of Understanding with regard to performing a feasibility study in the area of R&D, production and supply of synthetic rubber in the city of Nakhodka within the framework of the FEPCO (Far East Petrochemical Company) petrochemical cluster.


MRC