Indorama Ventures donates 1,000 vital PPE suits to medical personnel fighting Covid-19

MOSCOW (MRC) -- Indorama Ventures Public Company Limited (IVL), a global chemical producer, donated 1,000 PPE suits made from recycled PET yarns to medical personnel fighting COVID-19, said the company.

The yarns are made from used PET bottles which are collected from around the country and recycled, including through partners such as Big C Supercenter and The Street Ratchada as part of their CSR programs. The high-quality yarns used to make the PPE suits are made from recycled PET bottles at IVL’s facility in Nakhon Pathom, which is Thailand’s only producer of recycled yarns for medical use. The medical graded PPE suits have been tailored by a producer certified by Thailand's Food and Drug Administration. The company recycles more 1.6 billion post-consumer PET bottles every year, including 60,000 post-consumer bottles collected and donated by The Street Ratchada and Big C.

500 of the PPE suits were donated to eight hospitals in Nakhon Pathom, namely Sam Pran Hospital, Nakhon Chaisi Hospital, Luang Por Poen Hospital, Huai Phlu Hospital, Don Tum Hospital, Bang Len Hospital, Kamphaeng Saen Hospital and Phuttha Monthon Hospital. Another 300 suits were given to field hospitals at Thammasat Hospital and in Nong Chok District in Bangkok, and the Naval Medical Department received 200 PPE suits.

In addition to the PPE suits, IVL is producing 1,000 bedding sets made of yarns 100% recycled from 45 PET beverage bottles and contain property of preventing virus and bacteria. The company will donate to field hospitals at Thammasat Hospital and in Nong Chok District.

Mr. Yash Lohia, Chief Sustainability Officer at Indorama Ventures, said, “We are a responsible Thai company, and as part of our commitment to our community we continue to look at how we can help those around us who may be affected by COVID-19. We have successfully developed recycled PET yarns suitable for the PPE suits since last year. Our goal is to protect the protectors – frontline medical personnel –in a sustainable way. Our 100% recyclable PET plastic has benefits as a hygienic and sustainable material. Our collaboration with The Street Ratchada and Big C will create more awareness of proper waste management and drive cooperation to help create a truly circular economy.”

Mr. Pongsak Nantawannakul, Managing Director at The Street Ratchada, said, "We have supported the production of the PPE suits by collecting the post-consumer PET bottles since last year. We were able to hand over a total of 730 kilograms of PET bottles being raw materials for recycling. We realize that medical personnel are working hard and are at risk of infection. It is important that all parties need to support each other and together fight against the outbreak situation. We would like to encourage all Thai people to be strong and go through this crisis together."

Mr. Piriya Kamoldechdecha, First Executive Vice President of Hyper, Market & Food Place Operations at Big C Supercenter Public Company Limited, a BJC Group retailer, revealed, "The PET bottles collection is part of ‘Biggie Bear Encourage Recycling’ project by the BJC Group’s Big C. We strive to be a driving force and take part in community, society and environment development as 'Thai Retailer with Customers at Its Heart'. More than 137 branches of Big C nationwide are now opening to collect post-consumer PET bottles. BJC Group’s Big C realize an increasing waste during the COVID-19 pandemic. That is why we have initiated the project. The collaboration with IVL has enabled us to bring tangible benefits to waste as well as support medical personnel."

IVL’s integrated oxides and derivatives site at The Woodlands, Texas, was acquired from Huntsman in January last year.

The Woodlands facility will also support IVL’s fibres and PET segments on various sustainability projects.Extensive designing and engineering of the research center will start in coming months, and full occupation is expected in early 2022. It will be a hub for IOD research in the Americas, with links to sister facilities in Australia, India, and China. The Woodlands facility will also support IVL’s Fibers and PET segments on various sustainability projects. IVL, the world’s biggest maker of fully recyclable PET bottles, is investing USD 1.5 billion to towards its recycling and net zero targets.

As per ScanPlast, Russia's calculated consumption of polyethylene terephthalate (PET) grew to 263,660 tonnes in the first four months in 2021, up 13% compared to the same period in the previous year. 78.3% of the increase in consumption falls on the share of bottled PET chips due to the virtual absence of exports and an increase in the volume of imports.
MRC

MOSCOW (MRC) -- NOVA Chemicals Corporation has announced Avik Dey will become Senior Vice President and Chief Financial Officer, effective June 15, as per the company's press release.

Dey succeeds Julie Beck, who will transition to the role of Special Advisor to the Chief Executive Officer.

Dey will be responsible for NOVA Chemicals’ finance, strategy, information technology, and government relations teams, reporting to Luis Sierra, President and CEO. He will become a member of NOVA’s senior executive committee and will be based in Calgary, AB.

Dey joins the company from the Canadian Pension Plan Investment Board (CPPIB) where he most recently served as Managing Director, Head of Energy & Resources. While at CPPIB, Dey held numerous board memberships and led the strategy to build the portfolio of one of the world’s leading private investors focused on energy transition. Throughout his 20-year career, Dey has invested over USD9Bn of private and public capital and is an established, highly regarded investor, entrepreneur, and corporate executive. He has held senior financial, accounting and control leadership positions across energy, investment management and professional sports in Canada and the US.

Dey currently serves as a director of Enactus Canada. He has recently served on the boards of Calpine Corporation, Seven Generations Energy, Wolf Midstream and Chaired the boards of Teine Energy and Crestone Peak Resources. Dey was named to Canada’s Top 40 under 40 for 2017 and holds a Bachelor of Commerce from the University of Calgary.

As MRC reported earlier, in May 2021, three leading resin makers – Canada’s Nova Chemicals Corp. among them –established a USD100-million investment fund to help finance recovery and recycling of polyethylene (PE) and polypropylene (PP) in Canada and the US. Nova, Dow Inc. and LyondellBasell Industries are contributing a total of USD25 million to start the Closed Loop Circular Plastics Fund, which they said they hope to grow to USD100 million with money from other corporate and financial investors. The fund is being managed by New York-based investment firm Closed Loop Partners.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates. The company develops and manufactures chemicals and plastic resins.
MRC

MOSCOW (MRC) -- Astomos Energy Corp, Japan's biggest importer and wholesaler of liquefied petroleum gas (LPG), said on Friday it had signed to buy from Royal Dutch Shell a cargo of LPG with offset carbon emissions, said Reuters.

The purchase of carbon neutral LPG cargo at the scale of the Very Large Gas Carriers (VLGC) is believed to be the world's first case, Astomos said in a statement.

The move comes as carbon reduction targets tighten around the world and global gas producers step up to offer cleaner supplies as more buyers commit to environmental targets.

Shell will use carbon credits from its nature-based projects to offset lifecycle CO2 emissions generated across the value chain from production to consumption, including transportation, Astomos said.

As MRC informed previously, in late May, 2021, Shell agreed to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about USD596 million. And in early May, Shell announced the sale of its 149,000 barrel per day (bpd) refinery in Washington to Hollyfrontier Corp.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
MRC

MOSCOW (MRC) -- Colorado lawmakers this week voted to join the growing list of states that ban plastic bags and polystyrene carryout containers at stores and restaurants, said CPR.

It will take a couple of years before Colorado’s ban takes effect, however, and the measure comes with a major exemption that interferes with the original intentions of legislators.

The ban was part of a yearslong attempt by Colorado Democrats and environmental activists to reduce the state’s reliance on and consumption of plastic. A bill introduced in the House in February received its final approval from the legislature Tuesday and needs only Gov. Jared Polis’ signature to become law.

Under the new bill, the state will charge customers 10 cents per paper or plastic bag used at most grocery stores, retailers and restaurants starting in 2023, according to the bill. The ban on single-use plastic bags and polystyrene containers often used for takeout food will begin in 2024.

Sixty percent of the bag fee will go to local jurisdictions for recycling or composting programs and related administrative costs, and the rest is for the businesses. People enrolled in a state or federal food assistance program do not have to pay the bag fee.

Once the ban is in effect, paper bags will still cost 10 cents, an additional effort by legislators to encourage customers to bring their own reusable bags.The US state of Colorado has passed a bill banning the single-use of plastic bags and expanded polystyrene (EPS) used for takeout food containers.

The bill outlines different timelines for the eventual phasing out of plastic. The EPS ban would begin in 2024.

Meanwhile, businesses will be able to provide customers with a single-use plastic bag or recycling paper bag for a 10-cent fee starting 1 September and ending 1 September 2022. After that, the store may only furnish a recycled paper bag at a 10-cent fee.

The Colorado bill comes after the state of Washington passed a bill last month that banned expanded polystyrene products and established a minimum recycled content for plastic bottles, jugs, and personal care products.

Many other states have enacted legislation surrounding curbing the use of plastic and enhancing recycling infrastructure. In May, Arkansas became the 13th state to enact recycling legislation, enabling greater adoption of chemical recycling. Florida, Wisconsin, Georgia, Iowa, Tennessee, Texas, Illinois, Ohio, Pennsylvania, Virginia, Oklahoma, and Arizona have passed similar legislation to promote advanced recycling.

As per ICIS-MRC Price Report, prices of Russian EPS remained at the previous week's level. Prices of SIBUR-Khimprom's spot EPS quantities were at Rb167,000-175,000/tonne CPT Moscow, including VAT. Plastik, Uzlovaya shipped material at Rb178,000-180,000/tonne CPT Moscow, including VAT, depending on the grade.

MRC

MOSCOW (MRC) -- PPG has announced that Markus Melkko has been named interim chief executive officer (CEO) of Tikkurila Oyj, effective immediately, in addition to his current responsibilities as its chief financial officer (CFO), as per the company's press release.

Following the closing of PPG’s acquisition of Tikkurila on June 10, 2021, Elisa Markula notified the Tikkurila board of directors of her decision to resign as president and CEO of Tikkurila to take a CEO role at another company in another industry sector. Elisa’s resignation will be effective on a date to be announced and she will remain with Tikkurila until then to ensure a smooth transition.

Melkko joined Tikkurila in 2019 and has served as CFO and a member of the management team.

As MRC reported earlier, PPG Industries received approval from the Federal Antimonopoly Service (FAS) of Russia on May 21, 2021, and thus, it received all necessary regulatory approvals to complete the tender offer to acquire Tikkurila. The company had announced that the tender offer will expire on June 4, 2021. PPG expected to complete the tender offer and close the transaction on or about June 10, 2021.

Tikkurila was established in 1862, and is headquartered in Vantaa, Finland. The company is a leading producer and distributor of decorative paint and coatings with operations in 11 countries and more than 80% of its revenue coming from Finland, Sweden, Russia, Poland, and the Baltic states. Its brands include Tikkurila, ALCRO, Teks, Vivacolor, and Beckers. Tikkurila uses the Beckers brand only in its decorative paints in Scandinavian countries as well as in some parts of Eastern Europe under a license from Aktiebolaget Wilh. Becker, obtained in conjunction with its acquisition of Alcro-Beckers Ab in 2001. Tikkurila’s industrial paint business produces paints and coatings for the wood and metal industries, among others. The company employs approximately 2,400 people globally and reported sales of approximately EUR582 million in 2020.

PPG has developed and delivered the paints, coatings and materials for more than 135 years. With headquarters in Pittsburgh, the company operates in more than 70 countries and reported net sales of USD13.8 billion in 2020. The company serves customers in construction, consumer products, industrial and transportation markets and aftermarkets.
MRC