Sobeys launches plastic waste challenge to replace hard-to-recycle packaging

Sobeys launches plastic waste challenge to replace hard-to-recycle packaging

Sobeys Inc. has partnered with Ignite Atlantic, Divert NS, and Atlantic Canada Opportunities Agency (ACOA) to launch a national “Plastic Waste Challenge” to find commercially viable and sustainable alternatives o replace hard-to-recycle packaging, said Canplastics.

According to Sobeys, the objective of the challenge is to find an alternative product for non-recyclable fish and meat packaging. The winner of the challenge will have an opportunity to engage in discussions with Sobeys regarding a potential pilot in Nova Scotia.

From now until May, Sobeys will be working with challenge applicants across Canada to identify a potential partner for a sustainable packaging solution to pilot in some of their stores. The challenge applicant will also receive a $25,000 cash prize from Sobeys along with additional supports associated with launching the pilot, and prizes from the other partners.

As per MRC, Berry Global is relying on several ways to make plastic packaging easier to recycle. Consumer brand owners now rank recyclability as a criterion for their packaging, a shift from previous years, said Rob Flores, vice president of sustainability, Berry Global. Berry itself has committed to having all of its fast-moving consumer packaging meet this goal by 2025.

As it was reported before, Berry Global Group, Inc. (Evansville, Indiana) says it will break ground in September on a new polypropylene (PP) recycling facility in Leamington, United Kingdom, that it says will produce food-grade materials with a target purity standard of 99.9%. The new facility will be housed in a purpose-built, net-zero carbon, centrally located 13,000-square-meter, or 139,931-square-foot facility, offsetting CO2 emissions with local tree planting.

Vinyl building products maker Cornerstone bought by private equity firm for USD5.8 bn

Vinyl building products maker Cornerstone bought by private equity firm for USD5.8 bn

Cornerstone Building Brands Inc., said to be the largest manufacturer of exterior building products in North America, is being acquired by affiliates of private equity firm Clayton, Dubilier & Rice (CD&R) in an all-cash transaction with an enterprise value of approximately USD5.8 bn, said Canplastics.

“We believe this transaction provides substantial value for our shareholders while also accelerating Cornerstone Building Brands’ aspiration to become a premier exterior building solutions company,” said Cornerstone president and CEO Rose Lee.

Cornerstone was founded in 2018 and is headquartered in Cary, N.C., and produces vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems, and metal accessories.

The proposed transaction, which will result in Cornerstone becoming a private company, is expected to close in the second or third quarter of 2022.

We remind,Cornerstone Building Brands Inc. is acquiring Spokane Valley, Wash.-based vinyl window and door manufacturer Cascade Windows for USD245 mln.

Also, Cornerstone Building Brands Inc. acquired Prime Window Systems LLC for an undisclosed amount. Headquartered in Denver, Colo., Prime Window manufactures vinyl window and door products for the residential new construction and repair and remodel markets.

CD&R is headquartered in New York City. Cornerstone produces vinyl windows, vinyl siding, stone veneer, metal roofing, metal wall systems, and metal accessories.

Magna suspends Russian operations

Magna suspends Russian operations

Canadian automotive parts maker Magna International Inc. said it was halting its operations in Russia due to the invasion of Ukraine, said Canplastics.

As reported by The Canadian Press and other news agencies, the Aurora, Ont.-based company said it is “deeply concerned with the very unfortunate situation in Ukraine." Magna has six plants in Russia and about 2,500 employees.

Although it doesn’t have facilities in Ukraine, the company said thousands of Ukrainians work in its global operations, along with Russians it says share the same values of “human rights, diversity and inclusion."

Magna also says it is making a significant donation to the United Nations Refugee Agency and will match employee contributions.

As MRC informed earlier, Magna International Inc. will build a second paint shop 75 kilometers away in Maribor/Hoce, Slovenia. Aurora, Ont.-based Magna will spend approximately USD100 million on the new facility.

In 2010, Magna International Inc. officially opened a new production plant in Russia. The new 15,000-square-meter plant is located in the city of Kaluga and will specialize in plastic auto parts for local manufacturers, as well as foreign auto producers which operate in Russia through local subsidiaries. Customers include Skoda, Volkswagen, Renault and Peugeot.

Chemours halts business in Russia

Chemours halts business in Russia

Chemours has suspended business with Russian entities in response to Russian President Vladimir Putin’s ongoing military attack on Ukraine and the resulting humanitarian crisis, said the company.

"Chemours condemns the senseless violence taking place and views continuing business as inconsistent with our company values," Mark Newman, president and CEO of the US-based supplier of titanium dioxide (TiO2) and specialty chemical products, said the company. While Chemours will work to meet the needs of its global customers during the crisis, “we believe suspending business with Russian entities is the right thing to do”, Newman said.

Chemours also announced a USD100,000 donation to the International Committee of the Red Cross to support humanitarian efforts in the region. “Every day we encourage our people to operate with the courage to make a difference. Over the past two weeks the people of the Ukraine have embodied such courage and perseverance. Now, we want to do our part and help make a difference by supporting those in need," said Newman.

Chemours has a small office in Moscow and is working to ensure the safety of its employees there.

As MRC informed before, in December 2019, Chemours announced plans to sell its methylamines and methylamides unit to Belle Chemical, an affiliate of Cornerstone Chemical. The sales price was not disclosed. Thus, Chemours had signed a letter of commitment with Belle Chemical Co. to sell Chemours' methylamines and methylamides business and production facilities at the Belle location. Earlier in 2019, Chemours announced it would stop making methylamines and methylamides at the plant. In 2020, it planned to start dismantling the methylamines operations. Once Belle takes possession of the plant, most of the employees at Belle and others assigned in supporting roles at other locations will become part of Belle, Chemours said. Cornerstone makes acrylonitrile (ACN) and melamine at Fortier, Louisiana.

As per MRC, Chemours says it is looking to achieve a 60% absolute reduction of operations-related greenhouse gas emissions by 2030, and net zero greenhouse gas emissions by 2050. In addition to refrigerants, Chemours is a major producer of titanium dioxide, industrial fluoropolymer resins and derivatives and other chemical solutions.

Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. The company has approximately 6,500 employees and 30 manufacturing sites serving approximately 3,300 customers in approximately 120 countries in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

Russian oil firm Lukoil calls for end to war in Ukraine

Russian oil firm Lukoil calls for end to war in Ukraine

The board of Russia’s second-largest oil company, Lukoil, has called for an end to conflict in Ukraine as its shares collapse amid ongoing divestments from the Russian energy sector, said the company.

Lukoil produces around 2% of the world’s crude supplies and employs around 100,000 people, making it Russia’s second-largest oil company behind state-owned giant Rosneft.

In a statement released last week, the company said its board of directors expressed “deepest concerns about the tragic events in Ukraine." "Calling for the soonest termination of the armed conflict, we express our sincere empathy for all victims, who are affected by this tragedy. We strongly support a lasting ceasefire and a settlement of problems through serious negotiations and diplomacy," it added.

Lukoil said it was making “every effort” to continue its operations in all countries and regions where it is present, and remained committed to its role as “a reliable supplier of energy” to consumers around the world. "In its activities, Lukoil aspires to contribute to peace, international relations and humanitarian ties," the statement added.

However as international sanctions and pressure to sever economic ties with the Russian energy sector have grown, shares in the company have plummeted, losing around 99% of their value since late February. Trading of its stock is currently suspended.

The majority of stock in the publicly listed company is held by president, CEO and founder Vagit Alekperov, alongside vice president Leonid Fedun.

Last week, the company was also suspended from industry trade body Norwegian Oil and Gas, alongside RN Nordic, in response to the invasion of Ukraine. Lukoil responded by ending its association with the industry body.

As per MRC, Lukoil entered into an agreement to acquire a 50% operator interest in the Area 4 offshore project in Mexico through the acquisition of the operator's holding company.

It was also reported that Lukoil plans to invest about USD3 billion in petrochemical projects in the next 6 years, V. Alekperova also told reporters in June. At the same time, the company does not plan to adopt a separate petrochemical strategy, he said then.

Lukoil is one of the leading vertically integrated oil companies in Russia. The main activities of the company include operations for the exploration and production of oil and gas, production and sale of petroleum products. Lukoil is the second largest privately-owned oil company in the world in terms of proven hydrocarbon reserves. The structure of Lukoil includes one of the largest petrochemical enterprises in Russia - Stavrolen.