HDPE production in Russia up 1% in Jan-Feb 2019

MOSCOW (MRC) -- Russia's production of high density polyethylene (HDPE) totalled 155,800 tonnes in the first two months of 2019, up by 1% year on year. Only two producers out of four increased their output, according to MRC's ScanPlast report.

February total HDPE production in Russia decreased to 70,200 tonnes, whereas this figure was 85,600 tonnes a month earlier. Gazprom neftekhim Salavat and Stavrolen shut down their production capacities for short maintenance works. However, overall HDPE output reached 155,800 tonnes in the first two months of 2019, compared to 154,600 tonnes a year earlier. Only Gazprom neftekhim Salavat and Kazanorgsintez raised their output.

The structure of polyethylene (PE) production by plants looked the following way over the stated period.

Kazanorgsintez's total HDPE production dropped to 42,000 tonnes in February from 44,000 tonnes a month earlier. The Kazan plant's overall HDPE output reached 90,600 tonnes in January-February 2019, up by 5% year on year.

Stavrolen produced 18,200 tonnes last month versus 26,800 tonnes in January, the plant shut its production capacities for a one-week turnaround in early February. The plant's overall output reached 45,100 tonnes over the stated period, up by 9% year on year.

Gazprom neftekhim Salavat also took off-stream its production for a short period of time in February, the plant produced 9,300 tonnes versus 10,800 tonnes a month earlier. The Baskhir plant's total HDPE output exceeded 20,100 tonnes in the first two months of 2019, up 4% year on year.

Nizhnekamskneftekhim produced exclusively linear low density polyethylene (LLDPE) over the stated period.


DowDuPont announces effectiveness of the Form 10 Registration Statement for new Dow

MOSCOW (MRC) -- DowDuPont announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form 10 filed by Dow Inc., said the company.

The Form 10 includes information regarding Dow’s business and strategy as well as details on the spin-off, which is expected to be completed on April 1, 2019.

"Today’s announcement of the Form 10 effectiveness marks the final regulatory milestone in our process to spin. Dow is separating as an independent, publicly traded company in a position of strength and with a clear roadmap to deliver long-term value for our shareholders," said Jim Fitterling, chief operating officer of the Materials Science Division of DowDuPont and chief executive officer elect of Dow.

As previously announced, on March 7, 2019, the DowDuPont board of directors approved the spin-off of DowDuPont’s Materials Science Division and declared a pro rata dividend of Dow’s common stock. The dividend is expected to be paid after the close of business on April 1, 2019 to DowDuPont stockholders of record as of the close of business on March 21, 2019, the record date. DowDuPont stockholders will receive one share of Dow common stock for every three shares of DowDuPont common stock they held on the record date, plus cash in lieu of any fractional shares.

The New York Stock Exchange has authorized Dow’s common stock for listing and has advised that "when-issued" trading in Dow common stock on the NYSE will begin on March 20, 2019, under the symbol “DOW WI”. Following the spin-off, on April 2, 2019, Dow common stock will begin "regular way" trading on the NYSE under the symbol "DOW" and DowDuPont will continue trading under "DWDP".

Beginning on March 20, 2019 and continuing through April 1, 2019, it is expected that there will be two markets in DowDuPont common stock on the NYSE: a “regular-way” market under the symbol “DWDP,” in which DowDuPont shares will trade with the right to receive shares of Dow common stock in the spin-off, and an “ex distribution market” under the symbol “DWDP WI” in which DowDuPont shares will trade without the right to receive shares of Dow common stock in the spin-off. If you sell your shares in the “regular-way” market prior on or prior to the distribution date, you will be selling your right to receive Dow common stock in the distribution.

The distribution of Dow common stock is subject to the satisfaction or waiver of certain customary conditions, which DowDuPont expects will be satisfied by the distribution date.

Polychem to shut 96,000 mt/year monoethylene glycol line due to poor margins

MOSCOW (MRC) -- Polychem Indonesia plans to shut its 96,000 mt/year monoethylene glycol (MEG) line at Serang in Java next week, without a confirmed restart timeline, in response to poor margins, as per Apic-online.

The company has another 145,000 mt/year MEG line at Serang that is currently running well.

We also remind that, as MRC informed before, in January 2019, Toyo Engineering Group (TOYO) was awarded a contract of acrylic acid production plant with capacity of 100,000 tons/year in Cilegon, Banten, on the western tip of Java, Indonesia from PT. NIPPON SHOKUBAI INDONESIA (NSI), Indonesian subsidiary of NIPPON SHOKUBAI CO., LTD.

PT. Polychem Indonesia Tbk engages in the chemical, polyester, and nylon businesses. The company operates through Polyester, Petrochemical, and Fishing Net Yarn segments. It offers mono ethylene glycol for polyester synthetic fiber manufacturers and polyester terephtalate resin producers; and di ethylene glycol, tri ethylene glycol, ethoxylate products, and petrochemicals. The company also provides polyester chips, partially oriented yarn, polyester staple fibers, and drawn textured yarn; nylon yarn for the production of tire cords, nets, ropes, fabrics, and reinforcing materials in fan belts and hoses; and nylon-6 chips that is used as a raw material in yarn, mono filament, and various other plastic industries. The company markets its products in Asia, the United States, Europe, the Middle East, Latin America, Canada, and Africa. PT. Polychem Indonesia Tbk was founded in 1978 and is headquartered in Jakarta, Indonesia.

Element Solutions names new CFO

MOSCOW (MRC) -- Element Solutions Inc announced the promotion of Carey J. Dorman to Chief Financial Officer of Element Solutions, said the company.

Additionally, the Company announced it will hold an investor day on May 20, 2019 in New York City. Benjamin Gliklich, Element Solutions’ Chief Executive Officer said, "As we streamline Element Solutions into a more efficient organization, we are reorganizing to consolidate our global finance functions. In that context, I am pleased to be welcoming Carey into his new role, while also thanking his predecessor John Connolly for his significant contributions. Since 2016, John has worked tirelessly to improve our Company. He has succeeded at that task. We owe many of our best practices and successful initiatives to his leadership and the terrific team he has built. We are very thankful for John’s service to the Company."

Gliklich added, "Carey has been a strong contributor in many roles since joining in 2015. He has helped drive productive change and been a close partner to me and the rest of the executive leadership team over that time. Carey brings high-quality experience, institutional knowledge and an exciting forward vision to the CFO role. With the capable and experienced team behind him, I am confident that Carey will drive strong execution. We are looking forward to introducing you to Carey in this new capacity and our broader leadership team at our investor day on May 20."

Mr. Dorman joined Element Solutions in 2015 and has served in a number of corporate finance and other leadership roles, with responsibility for capital markets, corporate development, financial planning, investor relations and merger integration. He has served as Element Solutions’ Corporate Treasurer since February 2018. Prior to joining Element Solutions, Mr. Dorman held investment and corporate finance positions at Taconic Capital Advisors and Goldman Sachs.

In addition, the Company has made several other organizational changes in recent weeks as Element Solutions finalizes its new leadership team. These changes include the internal promotions of its new head of human resources and its chief accounting officer, among others.

SIBUR presents its elastomers at Tire Technology Expo 2019

MOSCOW (MRC) -- SIBUR presented its Elastomer portfolio at the Tire Technology Expo 2019, Europe’s most significant tire manufacturing technological exhibition and conference, said the company.

Europe is a core market for SIBUR Elastomers sales as the company serves its valuable customers with wide range of products, thus, the region accounts for a half of SIBUR’s total elastomers exports.

During the exhibition SIBUR presented its new solution-styrene-butadiene synthetic rubber modification grade SSBR 2560F TDAE and poly-butadiene BRNd HV (High Viscosity) rubber. These grades were developed in joint cooperation with European tire companies aimed to provide sophisticated high-performance tires’ consumer properties currently in demand particularly by the advanced European market. The grades were widely marketed worldwide. These grades cement SIBUR’s position as one of the global leading Elastomers producers.

“The partnership with SIBUR provides European customers a variety of advantages that ensure a stable supply owing to SIBUR feedstock integration and its rich resource base, European high quality standards, a wide range of product portfolio for different applications and industries, JIT delivered from European warehouses, are the most positive experience of long-term relationships”, said Mr. Pavel Rodionov, Elastomers Sales Director of SIBUR’s Plastics, Elastomers and Organic Synthesis division.

Furthermore, corporate R&D centers and customers’ technical support services satisfy all needs of every customer.