Teknor Apex completed new compounds plant in Germany

MOSCOW (MRC) -- US thermoplastic compounds company Teknor Apex has completed a new 50,000 square-metre facility at Rothenburg ob der Tauber, southeast of Frankfurt, Germany, to produce thermoplastic elastomers (TPEs) and engineering thermoplastics (ETPs) compounds, said the company.

The Rothenburg facility produces thermoplastic elastomers (TPEs) and engineering thermoplastics (ETPs), ranging from general-purpose compounds to highly specialized formulations. An extensive laboratory will be used for developing new compounds and providing customers with design support, application development, as well as product and process training.

The new facility was built with a strong focus on environment sustainability and holds certification for ISO 14001– Environmental Management and ISO 50001– Energy Management. The plant utilizes LED lights, a closed loop water system, heat recovery systems with heat pumps to support it, and meets the highest requirement in heat insulation of the building.

“The team’s ability to complete the build and successful transfer of our manufacturing operations while in the midst of a pandemic is a true testament of their partnership and commitment to serving our customers in Europe.” said Suresh Swaminathan, president of Teknor Apex. “We are excited about our new laboratory which serves as a hub of innovation, serving the region as a source of customized formulations, application development expertise, and process optimization."

Customers in Europe will also benefit from the global capabilities and broad experience of Teknor Apex, noted Jan Duyfjes, General Manager Europe. “Teknor Apex has long served major markets such as automotive, electrical and electronics, and regulated applications such as food-contact and medical, and it is a source of knowledge in matters such as regional and global regulatory compliance,” said Mr. Duyfjes. “With manufacturing operations in the USA, Europe, and Asia, we can provide global support and supply stability to European customers with plants in multiple countries."

As per MRC, Teknor Apex Asia Pacific Pte Ltd., a subsidiary of Teknor Apex Company, completed a global restructuring of TPE brands and now combines all compounds for consumer product applications under the well-known Monprene brand.

As MRC wrote previously, in May 2018, Teknor Apex announced that it had developed a series of flexible PVC injection moulding compounds that have been used successfully in automotive window encapsulation.

According to MRC's DataScope report, last month"s SPVC imports to Russia exceeded 14,000 tonnes from 8,700 tonnes in July. Good seasonal demand and a shortage of polymer from Russian producers led to a jump in imports in July-August. Overall imports totalled 42,700 tonnes in the first eight months of 2021, compared to 35,700 tonnes a year earlier, with PVC from China accounting for the main increase in imports.

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.
MRC

MOSCOW (MRC) -- Aramco, Air Products, ACWA Power and Air Products Qudra have signed a deal for the asset acquisition and project financing of a USD12bn air separation unit (ASU)/gasification/power joint venture (JV) at Jazan Economic City in Saudi Arabia, the companies said in a joint statement.

Aramco via its subsidiary Saudi Aramco Power Company (SAPCO) has a 20 percent share in the JV; Air Products 46 percent; ACWA Power 25 percent; and Air Products Qudra 9 percent. Moreover, Air Products’ total ownership position is 50.6 percent by owning an additional 4.6 percent through Air Products Qudra.

The JV is purchasing the ASUs, gasification, syngas cleanup, utilities and power assets from Aramco. The JV owns and operates the facility under a 25-year contract for a fixed monthly fee. Aramco will supply feedstock to the JV, and the JV will produce power, steam, hydrogen and other utilities for Aramco.

The JV serves Aramco’s Jazan Refinery, a megaproject to process 400,000 barrels per day of the crude oil to produce the main products such as ultra-light sulphur diesel, gasoline, and other products.

With the completion of these definitive agreements, all parties under the joint venture expect asset transfer and funding to occur during the month of October 2021. Air Products intends to conduct a public investor call at that time.

As per MRC, Saudi Aramco said it restructured its debt financing for Sadara Chemical Company, its joint venture (JV) with Dow Chemical, an American petrochemical major. The Saudi national oil company also said an agreement had been reached to allocate more natural gas feedstock to the joint venture, which has been building the world’s biggest chemical complex ever delivered in a single phase, in Jubail. Saudi Aramco and Dow have agreed to guarantee up to an aggregate of USD3.7 billion of senior debt principal in proportion to their ownership interests in Sadara, Aramco said in a stock exchange filing.

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 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world"s most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
MRC

MOSCOW (MRC) - Saudi Arabian petrochemicals companies Saudi Industrial Investment Group (SIIG) and the National Petrochemical Company (Petrochem) said on Tuesday they had signed a non-binding agreement on a proposed merger, reported Reuters.

The deal would consist of a share exchange offer made by SIIG to acquire the remaining 50% of Petrochem that SIIG did not already own, the companies said in separate bourse statements.

SIIG would pay Petrochem's shareholders by issuing new shares in SIIG, which would result in a delisting of Petrochem's shares. Petrochem's shareholders would receive 1.27 shares in SIIG in exchange for each share they owned in Petrochem.

SIIG has appointed HSBC Saudi Arabia as its financial advisor while Petrochem is working with GIB Capital.

The non-binding memorandum of understanding was subject to the companies reaching a final agreement on the terms of the deal, SIIG said.

As MRC informed before, in September, 2020, the two companies began talks over the merger, which would mark further consolidation in the Saudi petrochemicals sector, after oil giant Saudi Aramco bought a 70% stake in Saudi Basic Industries last year.

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 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

Petrochem has a market capitalisation of about USD6.3 billion and SIIG of about USD4.8 billion. The Saudi government has a 13.1% stake in SIIG and a 25% stake in Petrochem, according to Refinitiv data.
MRC

MOSCOW (MRC) -- Arkema announces the proposed divestment of its epoxides business to Cargill, a leader in agricultural products and services. With this project, Arkema is pursuing the repositioning of its portfolio on its core businesses, said the company.

Arkema produces bio-based and specialty epoxides in Blooming Prairie (MN, USA), used as additives or intermediates in the manufacture of lubricants, plastic additives and a wide variety of other applications. Part of Arkema’s Hydrogen Peroxide activity, this business has limited integration with the rest of the Group’s portfolio, generates sales of around US USD40 million and employs approximately 45 people.

By joining Cargill, a global player in bio-based-products, this business of high quality products will benefit from the size and the development strategy of this US Group that will offer new growth potential in the industrial markets.

The offer received values this activity at US USD38.8 million, which is around 10 times historical EBITDA. The deal is expected to close in the fourth quarter of 2021.

As per MRC, Arkema is further increasing its fluoropolymer production capacities in Changshu, China, by 35% in 2022. The increase in capacity is scheduled to come on stream before the end of 2022, the company said in a statement. Financial and overall capacity details of the expansion project were not disclosed.

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 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

Arkema is one of the world's leading chemical manufacturers headquartered in Colombes (near Paris, France). Founded in 2004 as a result of the restructuring of the French oil company Total, Arkema, with a turnover of EUR6.5 billion, has operations in 40 countries, 10 research centers around the world, and 85 plants in Europe, North America and Asia.
MRC

MOSCOW (MRC) -- Neftekhim Ltd, Kazakhstan's only polypropylene (PP) producer, has shut down its PP production for a scheduled maintenance, according to ICIS-MRC Price report.

The plant's customers said the Kazakh producer had completely took off-stream its PP output for a planned turnaround by 27 September. The exact dates of the outage have not been announced yet; initially, the repairs were scheduled to be carried out within 28 days.

Neftekhim Ltd was commissioned in 2009. The company produces methyl tertiary butyl ether (MTBE) and polypropylene (PP). The plant's PP production with the capacity of 45,000 tonnes/year was launched in 2011; the plant did not have PP granulation unit then, polymer was produced in the form of powder, which limited its field of application.
MRC