ExxonMobil completes new PE lines at Mont Belvieu plastics plant

MOSCOW (MRC) -- ExxonMobil Chemical Company has announced the mechanical completion of two new 650,000 tons per year high performance polyethylene (PE) lines at its plastics plant in Mont Belvieu, Texas. The company expects production to begin during the third quarter of 2017, as per the company's press release.

Part of a previously announced multi-billion dollar expansion project in the Baytown area, the PE lines will process ethylene feedstock from the new steam cracker currently under construction at the Baytown complex.

"As an early mover to complete a polyethylene project fueled by the shale gas revolution, this world-scale, state-of-the-art facility will double the plant’s production capacity, making it one of the largest polyethylene plants in the world," said Neil Chapman, president of ExxonMobil Chemical Company.

This project enables ExxonMobil Chemical to economically supply a rapidly growing demand for high-value polyethylene products. These high-performance products deliver sustainability benefits such as lighter packaging weight, lower energy consumption and reduced emissions. The finished PE product will be shipped to customers around the world.

The Baytown expansion project is one of 11 ExxonMobil announced as part of its 10-year, USD20 billion Growing the Gulf initiative. Projects planned or under way are expected to create more than 35,000 construction jobs and more than 12,000 full-time jobs.

"As the U.S. continues to produce abundant supplies of oil and natural gas, ExxonMobil is investing billions of dollars along the U.S. Gulf Coast to help meet growing global demand. These investments will not only expand existing refining and chemical capacity, but also stimulate economic growth and create jobs," Chapman said.

As MRC informed earlier, in November 2016, Jacobs Engineering Group Inc. announced it received a contract from ExxonMobil Chemical Company to provide engineering, design and construction management services as part of a new 650 kTa polyethylene facility to be located at ExxonMobil’s Beaumont polyethylene plant.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
MRC

MOSCOW (MRC) -- Loews Corporation announced that it has completed its acquisition of Consolidated Container Company (CCC), a leading rigid plastic packaging manufacturer based in Atlanta, GA, said the company on its press release.

CCC provides packaging solutions to stable consumer end markets such as beverage, food and household chemicals. With a network of manufacturing locations across the United States, CCC reliably provides quality products to its customers. The USD1.2 billion acquisition, subject to customary purchase price adjustments, was funded with approximately 50 percent cash-on-hand and 50 percent debt at CCC.

Loews Corporation is a diversified company with three publicly-traded subsidiaries – CNA Financial Corporation, Diamond Offshore Drilling, Inc. and Boardwalk Pipeline Partners, LP – and two non-public subsidiaries – Loews Hotels & Co and Consolidated Container Company.

CCC is a leading developer and manufacturer of rigid plastic packaging solutions in North America. CCC specializes in customized mid- and short-run packaging solutions, serving a diverse customer base in the household chemicals, food/nutraceuticals, industrial/specialty chemicals, water, and beverage/juice markets. CCC also operates a leading recycled and custom compounded post-consumer resin business, Envision Plastics. With 57 rigid plastic packaging manufacturing facilities, two recycled resins manufacturing facilities, and 2,200 employees, CCC has an integrated, nationwide network that consistently delivers reliable and cost-effective packaging and recycled resin solutions to meet the needs of a wide range of customers and markets. From its state-of-the-art Studio PKG, to the recycling technologies of Envision Plastics, to its experienced manufacturing teams across its network, CCC delivers high-performance, cost-effective solutions to meet even the most challenging applications.
MRC

MOSCOW (MRC) -- KBR, Inc. announced today that it has been awarded a Front-End Engineering Design (FEED) and project management services contract for Oman Liquefied Natural Gas LLC (Oman LNG) in Qalhat, Oman. Oman LNG operates three liquefaction trains with a total nameplate capacity of 10.4 million tonnes per annum (mtpa), as per the company's press release.

KBR is a recognized leader in LNG with over 40 years of continuous experience and depth of capability, know-how and engineering talent that is unmatched in the industry. This project represents KBR's reentry into the Oman market and supports our strategic focus on gas monetization in the Middle East region.

"This contract confirms KBR's strong reputation as one of the world's preeminent leaders in LNG facilities and demonstrates the trust that Oman LNG has placed in KBR following the successful development of the original Front-End Engineering Design (FEED) of this world-class LNG facility," said Jay Ibrahim, KBR President: Europe, Middle East & Africa. "We are committed to expanding our footprint in the Middle East and are delighted at this opportunity to reestablish KBR in Oman and contribute to Oman's In-Country Value (ICV) initiatives."

Revenue associated with this contract was undisclosed and will be booked into backlog of unfilled orders for KBR's Engineering & Construction business segment in the second quarter of 2017.

KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs over 34,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses.
MRC

MOSCOW (MRC) -- Jilin Petrochemical, part of PetroChina, is likely to restart a linear low density polyethylene (LLDPE) plant following a maintenance turnaround, as per Apic-online.

A Polymerupdate source in China informed that the company has planned to resume operations at the plant on May 26, 2017. The plant was shut for maintenance on May 12, 2017.

Located in Jilin province, China, the plant has a production capacity of 275,000 mt/year.

As MRC informed before, another major petrochemical producer in China - Sinopec Maoming Petrochemical - shut its LLDPE plant in China for maintenance in late March 2017. The exact duration of the planned turnaround could not be ascertained. Located at Guangdong in China, the plant has a production capacity of 220,000 mt/year.

Petrochina Jilin Petrochemical Company was established in Jilin. It was registered as a state-run company.

PetroChina Company Limited, is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation, headquartered in Dongcheng District, Beijing. It is China's biggest oil producer.
MRC

MOSCOW (MRC) -- Sika has appointed Paul Schuler, currently Regional Manager Europe Middle East Africa (EMEA), as Chief Executive Officer as of July 1, 2017. He succeeds Jan Jenisch who has accepted to become the new CEO at LafargeHolcim, as per the company's press release.

Paul Schuler has been with Sika for 29 years and has been a member of the Group Management since 2007. He served as Regional Manager North America from 2007 to 2012 and as Regional Manager EMEA from 2013 until now. Paul Schuler has played a key role in developing and executing Sika's successful growth strategy. His contributions to Sika's success include high growth rates, significant improvements in efficiency and profitability as well as responsibility for major acquisitions.

Paul Halg, Chairman of the Board: "I am delighted that the Board has appointed Paul Schuler as our new CEO. He has been a member of the Group Management for more than 10 years and has a highly successful track record in his leadership of two out of four Sika regions. His competent and energetic leadership style will ensure the continuation of Sika's growth strategy. I look forward to working together with him and in achieving our strategic targets 2020."

Paul Schuler: "I am excited about my new role and look forward to working with Sika's global leadership team. I am committed to continuing our growth strategy, meeting our targets for 2020 and further developing Sika's global business."

Jan Jenisch has been with Sika for more than 20 years and has been the CEO for the past five-and-a-half years. Under his leadership, Sika has seen significant profitable growth and an accelerated expansion into new markets, with a build-up of supply chains and new national subsidiaries.

Paul Halg: "I would like to thank Jan Jenisch for his outstanding leadership and accomplishments over the past 20 years. As CEO he has led Sika to an accelerated growth strategy and to a new performance level. While I regret his departure I wish him all the best for his future."

Sika confirms its guidance for 2017 with sales growth of 6-8% to more than CHF 6 billion for the first time. EBIT and net profit should continue to increase at disproportionately high rates. The growth strategy will be pursued with the opening of eight new factories and the founding of a further three national subsidiaries.

As MRC informed earlier, in March 2016, Sika has opened a new mortars and concrete admixtures plant in Vancouver, Canada. Besides, in eary 2016, Sika announced the opening of two new concrete admixtures plants in Southeast Asia, one in Myanmar, the other in Cambodia.

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories.
MRC