Kuraray to increase June prices of polyester staple fiber

Kuraray to increase June prices of polyester staple fiber

MOSCOW (MRC) -- Kuraray announces its decision to increase the prices of polyester staple fiber, for shipments commencing June 1, 2022, said the company.

In addition to the significant increase in the cost of key raw materials and utilities resulting from a rise in crude oil prices, Kuraray’s earnings continue to experience pressure from soaring logistics and manufacturing costs, the rapid depreciation of the yen, associated with increased costs for facility maintenance and renewal, which are beyond the scope of cost absorption through the Company’s internal efforts.

Under these circumstances, Kuraray has decided to implement the price revisions set out below to improve profitability and to maintain a steady supply.

As per MRC, Kuraray Co., Ltd. (Tokyo, Japan) has announced its decision to divest operations related to UV-based water treatment and ballast water treatment run by Calgon Carbon Corporation, a Group subsidiary based in the United States. The divested operations will be transferred to De Nora Water Technologies LLC in Italy.

As MRC informed before, Kuraray America, a subsidiary of the Kuraray Group and one of the leading international companies in the production of specialty chemicals, fibers, resins and elastomers, has resumed operations at its vinyl acetate monomer (VAM) plant in La Porte, Texas, USA. This plant with the capacity of 335,000 mt/year was shut in mid-February because of the unprecedently low temperatures in the region and restarted on 2 April, 2021.

Kuraray America is one of the world's largest specialty chemicals, fibers, resins and elastomers companies. The company's manufacturing facilities are located in Houston, Texas.
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Sumitomo Corporation reports consolidated financial results for FY 2021-2022

Sumitomo Corporation reports consolidated financial results for FY 2021-2022

MOSCOW (MRC) -- Sumitomo Corporation reported the consolidated financial results of its Media & Digital business unit for FY 2021-2022 (year ended 31 Mar 2022), said the company.

Media & Digital business unit posted profit of Yen 39.4 bn, a decrease of Yen 4.9 bn compared to profit of Yen 44.3 bn in FY 2020-2021.

This is due mainly to decrease in earnings for overseas telecommunication business, while major domestic group companies had shown stable performance.

As per MRC, Sumitomo Chemical announced its decision to close down its production facilities for caprolactam, a raw material for nylon, at its Ehime Works (Niihama city, Ehime, Japan) in October 2022, and exit the business. Sumitomo Chemical started production of caprolactam at its Ehime Works in 1965, employing a liquid-phase process, and has since been engaged in the business for more than 50 years.

Also, Sumitomo Corporation has commenced sales of the industrial park developed in a special economic zone in Narayanganj District, Dhaka Division, Bangladesh together with Bangladesh Economic Zones Authority.

Sumitomo Corporation has taken part in the business of development, sales and operation of industrial parks in Indonesia, the Philippines, Vietnam, Myanmar and India. As of February 2022, the 7 industrial parks have invited 563 tenant companies with 220,000 direct employment. This year marks the 50th anniversary of diplomatic relations between Bangladesh and Japan. Sumitomo Corporation will utilize its know-how obtained through industrial park business operations in other countries to support tenant companies and contribute to the diversification of the industrial sector and encouraging job creation in Bangladesh.
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Dow Vice President named as new Plastics Europe president

Dow Vice President named as new Plastics Europe president

MOSCOW (MRC) -- Plastics Europe, European trade association for plastics manufacturers has today announced the appointment of Marco ten Bruggencate, Commercial Vice President for Packaging and Specialty Plastics EMEA at Dow, as its President, effective immediately. He succeeds Dr Markus Steilemann, CEO of Covestro, said Sustainableplastics.

During his two-year mandate, Dr Steilemann endorsed increased efforts to reduce pellet loss in the environment with the launch of the European Operation Clean Sweep certification scheme, a collaborative initiative with the plastics value chain. He also commissioned the independent study, “ReShaping Plastics: Pathways to a Circular, Climate Neutral Plastics System in Europe”, and oversaw the launch of a new visual identity and website, with sustainability at its core, which better reflects the fundamental changes taking place within both the industry and Plastics Europe.

Marco ten Bruggencate, who joined Dow in 2000, will continue to drive Plastics Europe’s and its members’ ambitious sustainability agenda in line with the European Union’s Green Deal and climate- neutrality goals. He congratulated his predecessor for the crucial role he played in supporting the industry’s transition towards net zero carbon emissions and circularity, which included promoting bolder policy positions, such as the call for a mandatory EU recycled content target for plastics packaging of 30% by 2030. He went on to say he was proud to be taking on this new responsibility. “We are under no illusions about the scale and complexity of our industry’s transition and recognise the critical. We do not control all the various levers for this transition, and we do not have all the answers to the challenges we and the wider plastics system face. Collaboration with all stakeholders will be key."

As per MRC, Dow Inc. has announced the launch of a new high-performance polyolefin elastomer (POE) from plant-based feedstock. Engage Ren, is a “more sustainable brand extension” to the company’s Engage range POEs and is produced using renewable energy and feedstocks such as used cooking oil, Dow said 3 May. The brand was enabled by Dow’s Ecolibrium technology, which transforms sustainably sourced waste and by-products from other industries, into plastics.

As MRC informed before, earlier this month, Dow and Plastogaz SA announced a strategic investment which will help simplify the process of converting plastic waste to feedstock and provide another carbon-efficient option to keep plastic waste out of landfills and the environment. The collaboration marks another milestone in Dow’s ongoing mission to protect the climate and close the loop on plastic waste.

Dow combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company's ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company, with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow's portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure, mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people.
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Asahi Kasei Corporation has released its summary of consolidated results for FY 2021

Asahi Kasei Corporation has released its summary of consolidated results for FY 2021

MOSCOW (MRC) -- Asahi Kasei Corporation has released its summary of consolidated results for FY 2021 (1 Apr 2021-31 Mar 2022), said the company.

Sales increased by Yen 140.7 bn from a year ago to Yen 833.4 bn, and operating income increased by Yen 9.6 bn from a year ago to Yen 73.2 bn.

Operating income increased with a considerable rise in income from North American operations as lumber prices rose, and larger deliveries and higher added-value in domestic order built homes operations although the order backlog was impacted by the previous year's COVID-19 restrictions on sales activities and materials costs rose.

As per MRC, Asahi Kasei has formed a strategic partnership with USbased Genomatica regarding hexamethylenediamine (HMD) based on biomass-derived raw materials (bio-HMD). Asahi Kasei currently uses fossil fuel–derived HMD as an intermediate to manufacture Leona polyamide 66 an engineering plastic featuring heat resistance and rigidity. Polyamide 66 is used for plastic parts in automotive and electronics applications, as well as yarn for airbag fabric. Demand for polyamide 66 is expected to increase worldwide.

As MRC informed before, in July 2019, Asahi Kasei decided to expand its plant for the artificial suede LamousTM in Nobeoka, Miyazaki Prefecture, Japan, by four million m2/year, increasing the total production capacity to 14 million m2/year upon completion in 2021.

Asahi Kasei Corporation is a multinational Japanese chemical company. Its main products are chemicals and materials science. It was founded in May 1931, using the paid in capital of Nobeoka Ammonia Fiber Co., Ltd, a Nobeoka, Miyazaki based producer of ammonia, nitric acid, and other chemicals. Now headquartered in Tokyo, with offices and plants across Japan, as well as China, Singapore, Thailand, USA and Germany.
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Eight injured in S. Korea S-Oil Ulsan refinery

Eight injured in S. Korea S-Oil Ulsan refinery

MOSCOW (MRC) -- South Korea's third largest refiner, S-Oil Corp, has suspended production of several processing units after a blast at its Onsan refinery, it said on Friday, a step that could tighten gasoline supplies and boost refiners' margins in Asia, said Reuters.

Aramco Overseas Co., a subsidiary of Saudi Aramco, is S-Oil’s major shareholder. According to the local media, firefighters were notified of an explosion at the S-Oil refinery at 8:52 p.m. The facility is situated some 400 km southeast of Seoul.

The injured workers were shifted to a nearby hospital. The exact cause of the accident has yet to be determined. The Korean Herald quoted fire authorities as saying “the accident occurred inside S-Oil’s refinery at Onsan industrial park while crude oil was being processed into petroleum.”

The injured workers who were transferred to the hospital are being treated for second-degree burns to the face and the palms, according to authorities. S-Oil is the third-largest oil refiner in Korea.

The firefighters at the refinery appeared to be having trouble fighting the blaze, according to local reports.

As MRC reported earlier, S-Oil, South Korean petrochemical major, took off-stream its residue fluid catalytic cracker (RFCC) unit for a turnaround in June, 2020. The company undertook a planned shutdown at the unit by early-July, 2020. The unit remained off-line for about two weeks. Located at Onsan, South Korea, the RFCC unit has a propylene capacity of 705,000 mt/year.


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