Borouge to start up 80kta PE unit at Abu Dhabi by early 2016

MOSCOW (MRC) -- The UAE's Borouge schedules to start up its 80kta cross-linked polyethylene unit at Abu Dhabi by early 2016, Mark Garrett, CEO of Austrian, according to Ccfgroup.

The XLPE unit is a part of the company's Borouge 3 complex, and all the other Borouge 3 units have been started up and running at higher rate gradually. The newly built Borouge 3 complex at Abu Dhabi saw a startup process stretching for all of 2014 and into early 2015.

The total PE capacity of the complex is 1.51 million mt/yr, including a 1.08 million mt/year HDPE/LLDPE switch plant, and another 350kta LDPE unit besides the XLPE unit.

As MRC informed before, last summer, Borealis and Borouge announced the dedicated roll-out of the technology platform Borlink in Russia, according to the company's press release. Borlink was introduced by Borealis and Borouge as a technology platform offering a complete global package of power cable compounds and expertise serving applications for medium and high voltage (MV, HV), including extra high voltage (EHV) and high voltage direct current (HVDC).

Borouge is a joint venture between the Abu Dhabi National Oil company and Borealis.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. Borealis is headquartered in Vienna, Austria, and operates in over 120 countries with around 5,300 employees worldwide, generating EUR7.5 billion in sales revenue in 2012.
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MOSCOW (MRC) -- Performance materials supplier Ferro Corp. of Mayfield Heights said it has completed the acquisition of Egypt-based tile coatings manufacturer Al Salomi for Frit and Glazes for about USD36 million, including the assumption of debt, said Crainscleveland.

The company had announced the deal on Sept. 3.

Ferro described Al Salomi as one of the leading manufacturers of frits and glazes in the Middle East and North Africa. Al Salomi’s 5,600-square-meter plant in Suez, Egypt, "is expected to be one of Ferro’s lowest-cost frit production sites," Ferro said in a news release.

Current production capacity is 55,000 metric tons per year. An additional two lines, or 12,000 metric tons per year, of new tile coatings capacity is under construction and due to be operational in early 2016, Ferro said. The plant, which will be Ferro’s second frit production facility in Egypt, includes land and infrastructure assets to support expected growth, according to the release.

Ferro said it expects the transaction to add to adjusted diluted earnings by 3 cents to 6 cents in 2016.

Peter Thomas, chairman, president and CEO of Ferro, said the deal "will provide much-needed production capacity, as we have been running at or near capacity levels at our existing plants in Spain and Egypt for some time."

He added, "Despite current weakness, the (Middle East and North Africa) region remains a very attractive, growing market for tile and porcelain enamel products. This acquisition, combined with our investments in Turkey, strengthens our position as a market leader."

As MRC informed earlier, A. Schulman, Inc. in 2014 announced that it had 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 Corporation is a leading global supplier of technology-based performance materials, including glass-based coatings, pigments and colors, and polishing materials. Ferro products are sold into the building and construction, automotive, appliances, electronics, household furnishings, and industrial products markets. Headquartered in Mayfield Heights, Ohio, the Company has approximately 4,710 employees globally and reported 2014 sales of USD1.1 billion.
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MOSCOW (MRC) -- The board of directors of Axiall Corporation appointed Timothy Mann, Jr. as the company’s president and chief executive officer, a position to which he was named on an interim basis on July 6, 2015. In addition, Mr. Mann was named to the board of directors, said Investors.

"The board completed its CEO search process and is pleased to select Tim Mann to be the president and chief executive to lead Axiall Corporation," said Axiall Board Chairman Mark Noetzel. "Tim has energized the employees and has renewed our focus on Axiall’s primary strategic initiatives. He has demonstrated to the board the right experience and capabilities to lead Axiall as we enhance the company’s competitive position to drive shareholder value."

Axiall President and CEO Mann said, "We are strengthening the company’s competitive position through improved operational reliability and a focus on cost competitiveness. Further, we continue to evaluate the alternatives for the entire portfolio of businesses and assets. I want to thank our employees for their dedication to safe operations and customer service."

Also, the Axiall Corporation board of directors declared a regular quarterly dividend of 16 cents per share of common stock. The dividend is payable Jan. 11, 2016, to shareholders of record at the close of business on Dec. 23, 2015.

As MRC informed earlier, Ineos Americas announced that it has acquired the aromatics business from Axiall Corp., a leading integrated North American chlorvinyl and aromatics manufacturer. Ineos paid USD52.4 million at closing with an additional USD10.5 million payable after closing upon satisfaction of certain conditions. The transaction became effective at the end of 30 September 2015.

Headquartered in Atlanta, Georgia, Axiall produces specialty chemicals and building products.

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MOSCOW (MRC) -- Valero shuts FCCU at Port Arthur refinery in Texas following fire, said Reuters.

The fire stemmed from a hole in the FCCU's fractionator, Reuters reported, citing company sources. The time needed to repair and return the unit to normal operations was unknown.

A gasoline-producing fluid catalytic cracking unit (FCCU) was not running on Monday after a fire at Valero's 335,000-bpd refinery in Port Arthur, Texas, according to a report from news agency Reuters.

The fire stemmed from a hole in the FCCU's fractionator, Reuters reported, citing company sources.

The time needed to repair and return the unit to normal operations was unknown on Monday, accourding to Reuters' sources.

Valero did not respond to a request for comment.

As it was written earlier, in February 2015, Valero Energy Partners LP approved the partnership's acquisition of certain businesses from subsidiaries of Valero Energy Corporation. In the transaction, the partnership will receive the outstanding membership interests in Valero Partners Houston, LLC and Valero Partners Louisiana, LLC for total consideration of about USD671 mln.

Valero Energy Corporation is a Fortune 500 international manufacturer and a marketer of transportation fuels, other petrochemical products, and power. It is based in San Antonio, Texas, United States. The company owns and operates 16 refineries throughout the United States, Canada, United Kingdom, and the Caribbean with a combined throughput capacity of approximately 3 million barrels (480,000 m3) per day, 10 ethanol plants with a combined production capacity of 1.2 billion US gallons (4,500,000 m3) per year, and a 50 megawatt wind farm.
MRC

MOSCOW (MRC) -- Teknor Apex has expanded its "polymer-neutral" product by developing styrenic TPEs with alternative cost and performance profiles to those of TPVs in automotive exterior application, said the producer on its site.

The Sarlink ME-2200 series exhibit higher flow than comparable TPVs, enabling molders of exterior components such as gaskets, seals, and trim to process complex, intricate designs while shortening cycles through reduced packing and cooling time. In applications where TPV compounds are over-engineered, these compounds can provide a cost savings while still meeting the performance requirements of the part. Like TPVs, the compounds are less dense than EPDM and PVC, yielding weight savings of up to 15 and 23 %, respectively.

The TPEs are available in hardnesses from 65 Shore A to 40 Shore D. They are said to offer excellent UV stability, provide good flexibility over a wide temperature range, and yield a Class A surface appearance. The compounds are readily colored and, unlike many TPVs, do not require pre-drying prior to moulding. All compounds in the series are available worldwide in both black and natural formulations.

"Sarlink ME-2200 Series TPEs are already in commercial use for static seals, cowl vent seals, and mirror gaskets," said Jeffrey E. Dickerhoof, senior marketing and sales manager for the Thermoplastic Elastomer Division of Teknor Apex. "These new products are the latest examples of a Teknor Apex program to offer a wide-ranging, polymer-neutral portfolio, one that enables us to recommend a compound not because it happens to be what we make but because it is exactly the right material for a customer’s application."

As MRC informed previously, in 2013, Teknor Apex Company introduced a new rigid PVC compound with a specially developed UV-blocking formulation, which provides clarity for photobioreactor and other outdoor tubing, along with high gloss and toughness for weatherable profile applications.

Teknor Apex is one of the world's leading custom compounders headquartered in Pawtucket, Rhode Island, USA. The company produces PA compounds in the UK, the U.S.A., and Singapore. Teknor Apex is one of the world's leaders of specialty PVC compounds which are used in a wide range of applications from wire and cable to automotive, medical, consumer and industrial products. The company also produces thermoplastic elastomers, nylon, bioplastics, chemicals, specialty compounds.
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