PolyOne launches natural fiber reinforced solutions in brilliant colors

MOSCOW (MRC) -- PolyOne has unveied new bold color and extrusion options within the reSound Natural Fiber Reinforced Composites portfolio, said the producer on its site.

"While the automotive industry has responded well to reSound NF, which was introduced earlier this year, we have seen significant interest in these strong, lightweight solutions from manufacturers in consumer and other industries," said Holger Kronimus, VP Europe and general manager, PolyOne Specialty Engineered Materials. "The new color and extrusion options have been developed to offer non-automotive customers the flexibility and aesthetics they need while maintaining performance and ease of processing."

New reSound NF color options include beige, copper, terra cotta, green, blue and black hues. These colors were developed in collaboration with PolyOne’s InVisiOSM Color Inspirations 2016 color collections.

In addition to these creative hues, reSound NF is now available in formulations that have been tested and proven for profile extrusion, expanding its use to potential extrusion applications in building and construction, sports and leisure, and furniture manufacturing.

As MRC informed earlier, in 2014, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants, and are pre-certified to meet or exceed biocompatibility requirements for ISO 10993 and/or USP Class VI protocols.

PolyOne Corporation, with 2014 revenues of USD3.8 billion, is a global provider of specialized polymer materials, services, and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.

BP to sell LNG to China in multi-billion-dollar deal

MOSCOW (MRC) -- BP and China Huadian Corp. on Wednesday signed a sale and purchase agreement for BP to sell Huadian up to 1 MMtpy of LNG, worth up to USD10 billion over the next 20 years, said Hydrocarbonprocessing.

The agreement was one of several signed in London during this week’s State Visit to the UK by the President of The People’s Republic of China, Mr Xi Jinping, and signed in the presence of President Xi and UK Prime Minister David Cameron.

“This marks another long-term LNG supply deal between BP and Chinese buyers and it will play an important role in enhancing China’s energy diversification and supporting its economic growth," said Bob Dudley, CEO of BP.

"Not only does it strengthen China’s connections to BP and the UK as global trading partners, it also supports China’s commitment to improving its air quality and reducing its emissions through the use of lower carbon fuels," he added.

The agreement with Huadian was one of a number of new agreements with Chinese firms, adding several billion dollars in future trade to the BP’s already significant business with China and underscoring the important and growing trade links between the UK and China.

"BP has been committed to doing business in China for more than 40 years and we’re pleased to enter into an agreement that supports continued diversification and growth of the Chinese economy," Dudley said. "This agreement also strengthens the connectivity of global gas markets, which is important for countries seeking more diverse and secure energy supplies."

Huadian is one of the five largest state-owned power generation companies in China and the country’s largest gas-fired power generator.

As MRC informed earlier, BP and Ningxia Baota Chemical Fibre Co., Ltd. (a majority owned subsidiary of Baota Petrochemical Group) have signed an agreement to license BP’s latest generation purified terephthalic acid (PTA) technology, the third such deal agreed by BP.

BP is one of the world's leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.

MOL Group has signed a deal to acquire Eni business in Hungary.

MOSCOW (MRC) -- MOL Group has signed a deal to acquire Eni’s business in Hungary, said Energyvoice.

The company said the move would contribute to MOL’s growing retail presence within the supply radius of its refineries.

Eni Hungaria currently own 183 Agip branded service stations in the country.

Ferenc Horvath, downstream executive vice president, for MOL Group said: "This acquisition is yet another important step for our downstream business as it will increase the markets for our refineries, significantly elevate our fuel volumes going through our network and ensure further overall margin capture.

"I’m glad that with today’s transaction we once again deliver on our promises."

As MRC informed earlier, MOL Hungarian Oil and Gas Public Limited Company hereby informs the capital market participants that it has reached an agreement with JSR Corporation (JSR) to establish a joint venture in Hungary and construct a new plant to manufacture solution polymerization styrene-butadiene rubber (S-SBR).

Akzo Nobel Q3 net income rises

MOSCOW (MRC) -- Paints and coatings maker Akzo Nobel NV reported that its net income attributable to shareholders for the third-quarter 2015 rose 39 percent to 285 million euros from 205 million euros in the prior year, said the producer on its site.

The company said it is on track to deliver its 2015 targets. Adjusted earnings per share were up 35 percent at 1.24 euros, compared to 0.92 euros last year.

Third quarter operating income increased 30 percent to 436 million euros, reflecting the positive effects of process optimization, lower costs, reduced restructuring expenses and favorable currency developments.

Revenue of 3.760 billion euros was up 2 percent compared with the same period last year, due to favorable currency effects, offset by divestments and slightly lower volumes.

Decorative Paints operating income improved by 7 percent due to the new operating model, lower costs and currency developments. Revenue was flat, with favorable currency effects being offset by adverse price/mix.

Performance Coatings operating income was up 56 percent, driven by cost reductions from performance improvement initiatives, lower costs, favorable product mix, lower restructuring charges and favorable currency developments.

Specialty Chemicals operating income was up 4 percent, supported by the benefits from further increased production at its new Frankfurt plant, lower costs and operational efficiencies throughout the business.

The market outlook is unchanged with positive trends in North America and no improvement for Europe overall as well as a challenging environment in some countries, including Russia, Brazil and China. Based on current rates, the positive impact of foreign currencies is expected to moderate in the fourth quarter. The company said it is on track to deliver its 2015 targets.

As MRC informed earlier, AkzoNobel’s Specialty Chemicals business recently broke ground on a new alkoxylation facility in Ningbo, China, bringing the company’s total investment in the strategic multi-site to more than EUR400 million.

AkzoNobel Surface Chemistry is a global leader in the manufacturing and supply of specialty surfactants, synthetic and bio-polymer additives and specialty polymers. AkzoNobel currently employs more than 7,400 people in China. Revenues in China totaled EUR1.7 billion in 2014.


PKN Orlen group reported 44% growth in Q3

MOSCOW (MRC) -- Listed fuel giant PKN Orlen earned PLN 539 mln EBITDA LIFO from its retail segment in Q3, a 22% y/y increase, Q3 financial statements out pre-session showed, said the company on its site.

The y/y increase came on higher fuel and non-fuel margins, as well as sale increases in Poland (3% y/y) and the Czech Republic (11% y/y), Orlen said in its presentation.

Sales volumes rose 2.2% to 2133k tons, the financial reports indicated. Sales rose by 3% in Poland, 11% in the Czech Republic, were flat in Lithuania and declined by 1% in Germany, the presentation showed.

Fuel margins rose on all markets, while non-fuel margins only in Poland and the Czech Republic, the presentation showed.

Orlen operated 2689 filling stations at end-Q3, up by 8 stations y/y. The number of catering points grew by 135 y/y to 1335.

CAPEX in the retail segment reached PLN 97 mln in Q3 2015, up from 83 a year before.

As it was written recently, Orlen will buy Kicking Horse Energy Inc. in a USD273 million transaction to increase its Canada production by more than 4,000 barrels of oil equivalent, or about 60 percent. The refiner also agreed to purchase Salt Lake City-based FX Energy Inc. in a USD119 million deal, including debt. FX Energy, which focuses its operations on Poland, will give Orlen its first domestic upstream production.

PKN Orlen is a major Polish oil refiner and petrol retailer. The company is a significant European publicly traded firm with major operations in Poland, Czech Republic, Germany, and the Baltic States. It currently (2015) ranks 353, with a revenue of over USD33.8 billion.