Petrobras signs contract to sell Liquigas

MOSCOW (MRC) -- Brazil-based Petrobras signed a contract to sell its bottled gas distributor Liquigas Distribuidora to Copagaz and Nacional Gas Butano, as announced earlier this month, as per Agenciapetrobras.

The sale price is R$ 3.7 billion, to be adjusted according to contract rules and paid upon transaction closing. As part of the transaction structuring, a minority and material equity investment will be made by Itausa in Copagaz.

The transaction closing is subject to compliance with precedent conditions, including approval by the Administrative Council for Economic Defense (CADE).

The operation complies with Petrobras' divestment guidelines and with the special regime of asset divestment by federal mixed-capital companies, provided for in Decree 9,188/2017.

This transaction is in line with the portfolio optimization and the improvement of the company's capital allocation, aiming at creating value for our shareholders.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year. Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.

Liquigas is a wholly owned subsidiary of Petrobras and operates in bottling, distribution and sale of liquefied petroleum gas (LPG) in Brazil. The company is present in almost all Brazilian states, and has 23 operating centers, 19 warehouses, a railroad storage and loading base and a network of about 4,800 authorized resellers, with a 21.4% market share approximately.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
MRC

MOSCOW (MRC) -- Grand Astor has planned to bring on-stream its polystyrene (PS) unit in Zhangjiagang, according to Apic-online.

A Polymerupdate source in China informed that the company is likely to resume operations at the unit on December 10, 2019. The unit was shut for maintenance by November 19, 2019.

Located in Zhangjiagang, China, the unit has a production capacity of 120,000 mt/year.

As MRC informed earlier, another major PS producer in China - Sinopec Guangzhou Petrochemical, part of China's petrochemical giant - Sinopec, - has restarted its polystyrene (PS) unit following a planned outage. The company resumed operations at this unit on November 4, 2019. The plant was shut for maintenance on October 8, 2019. Located in Guangzhou province of China, the unit has a production capacity of 60,000 mt/year.

According to MRC's ScanPlast report, Russia's estimated consumption of PS and styrene plastics totalled 411,080 tonnes in the first ten months of 2019, which corresponds to the last year's level. October estimated consumption of PS and styrene plastics in the country rose by 2% year on year, totalling 46,740 tonnes.
MRC

MOSCOW (MRC) -- Wrexham-based masterbatch manufacturer Silvergate Plastics has developed a new solution which addresses the build-up of pigments in machinery, as per PRW.

The company developed the tailor-made masterbatches after film manufacturers had reported pigment build-up in machines despite regular clean downs.

The clogging, Silvergate said in a release, slows down cycle times and disrupts overall production.

The new solution incorporates “quality ingredients that work together to improve dispersion during manufacture".

Available in different colours, Silvergate’s new masterbatch formulation was developed specifically to address the issue for the film market.

Manufacturers trailing the products have reported improved colour accuracy for plastic films, plus increased productivity.

Silvergate is the UK's largest independent custom colour masterbatch manufacturerю
MRC

MOSCOW (MRC) -- Ad-Vance Engineering has completed a GDP1m round of investment across its business. The cash injection supported construction of a new manufacturing facility and expansion of its manufacturing team, said PRW.

The investment was made to support new export orders received by the company, which is based in Lisburn, Northern Ireland.

Ad-Vance specialises in the design, manufacture and refurbishment of injection moulding tools for the plastics industry.

Having started by supplying the construction sector, R&D investment has seen this extended to the automotive and medical industries.

The company reports that it has increased sales and doubled its customer base since 2015. Looking at this another way, the company now works with 20% of the leading injection moulders across the UK.

Speaking about the company and the new investment, Roger Vance, founder and managing director, said: “By focusing our new business drive on the top tier injection moulders, we’ve recently won new contracts in the automotive, pharmaceutical and medical device sectors. This only consolidates our reputation as a premium supply chain partner."

In addition to R&D innovation, Ad-Vance offers internships for engineering graduates from Queen’s University in Belfast, while also running apprenticeship programmes in conjunction with local FE colleges.

MRC

MOSCOW (MRC)—The U.S. Senate today introduced the “Recycling Enhancements to Collection and Yield through Consumer Learning and Education Act of 2019,” also known as the RECYCLE Act, said Americanchemistry.

The American Chemistry Council issued the following statement, which may be attributed to Steve Russell, vice president of ACC’s Plastics Division: “The American Chemistry Council and our members strongly support the RECYCLE Act and commend Senators Portman and Stabenow for introducing this legislation, which will improve the effectiveness of residential and community recycling programs through increased public education and outreach. At present, studies show that about 25 percent of recyclable materials are lost due to a lack of knowledge about what should and shouldn’t be placed in recycling bins. By promoting education and best practices, the RECYCLE Act will improve both the quality and quantity of materials collected for recycling.

"This much needed legislation will not only help to optimize our existing recycling infrastructure; by increasing collection, it will provide a critical foundation to support a class of advanced technologies that could revolutionize the way we use—and reuse—plastics.

"Companies that make and use plastics are deeply committed to creating a more circular economy for plastics by significantly increasing recycling and recovery. Much of our work is focused on increasing consumer access to recycling programs, developing innovative technologies, and strengthening the economics of this critical manufacturing component.

"In May of 2018, plastics makers announced goals intended to make all plastic packaging recyclable or recoverable by 2030 and for all plastic packaging to be recycled or recovered by 2040. Earlier this year, plastics producers helped to launch the Alliance to End Plastic Waste, which is committed to providing USD1.5 billion to help develop infrastructure and systems to collect and repurpose waste in geographies that need them most."

We remind that, Russia's output of chemical products rose in October 2019 by 5.4% month on month.
However, production of basic chemicals increased by 3.9% in the first ten months of 2019. According to the Federal State Statistics Service of the Russian Federation, the largest increase in production volumes on an annualized basis accounted for mineral fertilizers and polymers in primary form. Thus, 210 ,000 tonnes of ethylene were produced in October, compared to 200,000 tonnes a month earlier. Limited production was a result of scheduled shutdowns of several large producers in September-October.

MRC