Bostik acquires China adhesives firm PMP

Bostik acquires China adhesives firm PMP

MOSCOW (MRC) -- Arkema’s adhesive subsidiary Bostik is planning to acquire specialist producer Shanghai Zhiguan Polymer Materials (PMP) to cater to the fast-growing electronics market in Asia, said the company.

The deal to acquire hot-melt adhesives producer PMP is expected to close in the first quarter 2022. The price of the acquisition was not disclosed.

PMP specialises in reactive hot-melt polyurethane (PU) adhesives, used in consumer electronics in bonding applications of devices such as mobile phones, tablets and laptops, and generates more than EUR1m in annual sales.

The deal will enable Bostik to strengthen its portfolio of engineering adhesives, building on existing operations in cyanoacrylate, methyl methacrylate (MMA) and UV technologies developed through acquisitions of Afinitica, Nitta and AEC Polymers.

As per MRC, Bostik, the Specialty Adhesives business line of Arkema, continues to expand its manufacturing capacities with the opening of a new facility in Gujarat. Together with its existing plant in Bangalore, the new plant will serve the fast growing demand in India for adhesives in industrial markets.

Bostik develops high-performance and high-value-added bonding and sealing products for the nonwoven, industrial, construction, and consumer markets. Bostik employs about 4,900 people across 48 production facilities - 18 in Europe, 10 - in North America, 8 - in Asia, 6 - in Australia and New Zealand, 2 - in Africa, and 4 - in South America.

Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.
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thyssenkrupp to build three major polymer plants for SASA in Turkey

thyssenkrupp to build three major polymer plants for SASA in Turkey

MOSCOW (MRC) -- thyssenkrupp Uhde’s subsidiary Uhde Inventa-Fischer signed a contract to build three new polymer plants for SASA Polyester Sanayi A.S in Adana, Turkey, according to Hydrocarbonprocessing.

One plant is planned to produce 1,050 metric tpd (380,000 tpy) polyethylene terephthalate (PET) for low viscosity application combined with a Co-PET plant with a capacity of 100 metric tpd (36,000 tpy). The third plant will use Uhde Inventa-Fischer’s proprietary patented MTR (Melt-to-Resin) technology to produce 330,000 tpy of resin for the production of PET bottles.

Dr. Mustafa Kemal Oz, GM of SASA POLYESTER SANAYI A.S. said, “We are pleased to choose again Uhde Inventa-Fischer for our new investments. SASA is racing to global leadership in polyester production with its state-of-the-art world class production facilities. It is an honor to continue our cooperation with UIF who has been always a good business partner of our growth strategy.”

Werner Steinauer, CEO of Uhde Inventa-Fischer said, “We are very proud that SASA chose us to build further state-of-the-art PET plants after we were assigned to build already Line 1, Line 2, and Line 3.”

Scope of delivery for all plants includes basic and detail engineering, delivery of all necessary components, technical services regarding plant erection as well as supervision of erection and commissioning.

As MRC wrote before, in January, 2022, thyssenkrupp Uhde Chlorine Engineers signed a supply contract with Shell for the large-scale project ‘Hydrogen Holland I’ in the port of Rotterdam, the Netherlands. Under the contract, thyssenkrupp Uhde Chlorine Engineers will engineer, procure and fabricate a 200 MW electrolysis plant based on their large-scale 20 MW alkaline water electrolysis module. First construction work for the electrolysers will likely begin in spring 2022. Shell’s final investment decision to build the ‘Holland Hydrogen I’ is expected in 2022, after which the intended start of production will be in 2024.

thyssenkrupp Uhde Chlorine Engineers offers world-leading technologies for high-efficiency electrolysis plants. The company, a Joint Venture with Industrie De Nora, has extensive in-depth knowledge in the engineering, procurement, and construction of electrochemical plants and a strong track record of more than 600 projects with a total rating of over 10 gigawatts already successfully installed. With its water electrolysis technology to produce green hydrogen, the company offers an innovative solution on an industrial scale for green value chains and an industry fueled by clean energy – a major step towards a climate-neutrality.
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Saudi Aramco in talks on more investments in China

Saudi Aramco in talks on more investments in China

MOSCOW (MRC) -- Oil giant Saudi Aramco is in talks with partners in China about further investments in the country, according to CEO, Amin Nasser, said Hydrocarbonprocessing.

"China is an important part of Aramco's base," Nasser told reporters on the sidelines of a conference in Saudi Arabia. "And we are currently in discussions with a number of our partners in China for more investment," he said, declining to disclose the nature or size of potential investments.

Nasser said last year that Aramco expects opportunities for further investment in downstream projects in China - the world's biggest importer of crude oil - to help the country meet its needs for heavy transport and chemicals, as well as lubricants and non-metallic materials. He told the conference on Monday that while oil demand globally is close to reaching pre-pandemic levels, investment in the sector is inadequate to sustain global supplies in the short to medium term.

Aramco is working on boosting its maximum sustained capacity to 13 MMbpd by 2027, Nasser told reporters, from 12 MMbpd currently. "It will be a gradual build from '25 to '27," he said. The company will allocate more capital for investments, including to boost maximum sustained capacity and gas supply.

"We will have, very soon, an earnings call after we announce our numbers, and we will be explaining more about what we are doing," he said, responding to a question on whether Aramco would use rising income due to higher oil prices on capital expenditure or dividends. "But definitely, more capital allocation for our investment," he said.

Nasser said total global investment in the oil and gas sector has halved since 2014 to USD350 B. "You've seen what happened in Europe right now and parts of Asia in terms of energy prices going very high, impacting customers all over the world," he said.

"This is mainly because of the strategies and policies that curtailed investment in certain sectors ... only advocated and supported renewables and alternatives without reaching the point of realization that you need to support all energy sources over the long-term in order to ensure that there is adequate supply to support healthy growth."

Aramco completed the world's largest initial public offering in late 2019, raising USD29.4 B on the Riyadh bourse. Saudi officials have previously raised the possibility of selling more shares in Aramco. Responding to a question on whether further shares of Aramco would be sold in Saudi Arabia or abroad, Nasser said: "This is a government decision when the major shareholder to decide if they would like to list more of Saudi Aramco."

As MRC informed before, in June 2020, Aramco finalized its USD69 billion acquisition of a 70% stake in Saudi Basic Industries Corp., the Middle East's biggest petrochemical maker. SABIC reported more than a fivefold year-on-year increase in its Q3 net profit to USD1.49 billion thanks to higher average sales prices.

Sabic, its parent company Saudi Aramco and Poland's PKN Orlen have signed a memorandum of understanding to build a cracker and other facilities in Central and Eastern Europe.

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.
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COVID-19 - News digest as of 21.02.2022

1. Stepan Q4 net income decreased by 44%

MOSCOW (MRC) -- Stepan’s Q4 net income fell 44% year on year to USD17m amid global supply chain disruptions and inflationary pressures, said the company. Furthermore, the prior-year Q4 benefited from a one-off USD13m insurance recovery related to a plant outage at Millsdale, Illinois in 2020. Operating income fell to USD32.4m, from USD43.3m in Q4 2020, primarily due to supply chain disruptions and lower sales volume. Global Surfactant sales volume decreased 9% on lower demand for cleaning products in the consumer products business, partially offset by higher demand for products sold into the institutional cleaning and functional product end markets.

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Mitsui Chemicals partners with three companies for development of tehcnology to produce feedstock for plastics

Mitsui Chemicals partners with three companies for development of tehcnology to produce feedstock for plastics

MOSCOW (MRC) -- Mitsui Chemicals, Maruzen Petrochemical Co., Toyo Engineering Corporation and Sojitz Machinery Corporation announced that a joint pilot project to be demonstrated by the four companies is to be funded by the New Energy and Industrial Technology Development Organization, according to Hydrocarbonprocessing.

The project partners had applied to the Green Innovation Fund for projects aimed at the development of technology for producing raw materials for plastics using CO2 and other sources, focusing in particular on the development of advanced technologies for naphtha crackers.

The goal of the pilot project is to switch naphtha crackers from running on conventional methane-based fuel to one in which ammonia is the principal component, thereby reducing the CO2 emissions generated by combustion. The trial is expected to run for 10 years in order to be implemented in society after feasibility has been demonstrated in an entirely ammonia-fired commercial cracker in the project’s final year.

As MRC informed before, earlier this month, Covestro entered into an agreement with Mitsui Chemicals on the supply of raw materials phenol and acetone from ISCC Plus certified mass-balanced sources. Both components will be used for the production of polycarbonate at Covestro's Asian sites in Shanghai, China, and Map Ta Phut, Thailand. The high-performance plastic is used, for example, in car headlights, LED lights, electronic and medical devices and automotive glazing. Japan's Mitsui Chemicals and Mitsui & Co., Ltd are already a long-standing supplier to Covestro.

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 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
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