Mitsui Chemicals to acquire pellicle business of Asahi Kasei Corporation

Mitsui Chemicals to acquire pellicle business of Asahi Kasei Corporation

MOSCOW (MRC) -- Mitsui Chemicals, Inc. announced that it has formed an agreement to acquire the pellicle business of Asahi Kasei Corporation, said the company.

According to Mitsui Chemical’s Long-Term Business plan VISION 2030, it is aiming with creating and growing a "unique" ICT Solutions business to grow products that will let it create and grow operations here into our third pillar of earnings under the business portfolio transformation. This will see the pellicle business in particular positioned as a key product lineup on the ICT materials front, as well as a business to focus on further going forward. Hopes then are to offer highly competitive new products and solutions that contribute to innovation in the semiconductor production process, allowing Mitsui Chemicals to serve as the number one manufacturer of cutting-edge pellicles.

Mitsui Chemicals has been able to secure a significant presence in the pellicle market since first launching pellicle sales in 1984. The company has become the leader in cutting-edge products for LSI pellicles*1, and stands at the forefront in achieving commercialization of EUV pellicles – these being used in EUV lithography, an advanced technology in the semiconductor industry.

Still, with the LSI pellicle market trending toward higher resolutions and more advanced quality assurance standards, it will be essential to develop technologies here further and keep up investments. Mitsui Chemicals has therefore discussed the future of pellicle operations on a number of occasions with Asahi Kasei, which has both advanced technologies and a sturdy business foundation in the pellicle arena. Resulting from these discussions is the conclusion that the best way to strengthen business here would be to combine the pellicle businesses of Mitsui Chemicals and Asahi Kasei, moving to operate them.

Asahi Kasei’s own pellicle business was first commercialized in 1986. Since then, this business has
propped up the FPD pellicle 2 market as its number one player. It has also forged ahead with manufacturing process improvements, production capacity increases and more for LSI pellicles, facilitating an increasing market share in recent years in the cutting-edge market posed by ArF immersion lithography.

By acquiring this business, Mitsui Chemicals aims to combine its own pellicle business in the cutting- edge realm with Asahi Kasei’s wide-ranging pellicle business portfolio, making for a comprehensive pellicle manufacturer that can strengthen our position as number one on the global stage.

As per MRC, Olin Corp. (Calyton, Mo.) and Mitsui & Co., Ltd. (Tokyo) announced a global strategic alliance to better serve customers. The companies have agreed to a memorandum of understanding to establish a joint venture that brings together Mitsui’s top-notch global logistics, deep supplier and customer relationships, and breadth of product portfolio with Olin’s scale, North American export capability, and production flexibility across the electrochemical unit (ECU) portfolio.

As per 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.

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.

Chevron announces appointment of Dr. Wanda M. Austin as Lead Independent Director

Chevron announces appointment of Dr. Wanda M. Austin as Lead Independent Director

MOSCOW (MRC) -- Chevron Corporation announced that the independent directors of the Chevron Board have selected Dr. Wanda M. Austin as lead independent director, effective May 25, 2022, said the company.

Dr. Austin succeeds Dr. Ronald D. Sugar in that role, who will remain on the Chevron Board. Austin has served on the Chevron Board since December 2016.

"We are pleased to announce Dr. Austin’s selection as our next lead independent director,” said Mike Wirth, chairman and CEO. “Wanda was selected by the independent directors of the Board based on her thoughtful leadership and contributions in a variety of roles, including as chair of our Board Nominating and Governance Committee and as former chair of our Public Policy and Sustainability Committee. We thank her for accepting this responsibility to lead and provide independent oversight of management."

“I’d also like to express my appreciation to Dr. Sugar for his strong leadership and sound judgment as lead independent director,” continued Wirth. “Ron has served in this role since 2015, as the company experienced the pandemic and geopolitical challenges, secured multiple acquisitions and embraced its role in the energy transition as we pursue our objective of safely delivering higher returns, lower carbon."

Dr. Austin will continue to serve as chair of the Board Nominating and Governance Committee and member of the Management Compensation Committee. Dr. Sugar will continue to serve on the Board Nominating and Governance Committee and Management Compensation Committee.

Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines.

As per MRC, Chevron and ExxonMobil have signed separate agreements with state energy company PT Pertamina to explore lower carbon business opportunities in Indonesia. Chevron signed an MoU through its subsidiary, Chevron New Ventures Pte. Ltd, and is looking at potential businesses in new geothermal technology, carbon offsets through nature-based solutions, carbon capture, utilization, and storage (CCUS), Pertamina said.

We remind that Chevron Phillips Chemical, a joint venture of Phillips 66 and Chevron, will make a final investment decision on a new cracker in far southeast Texas in 2022, followed by an FID in 2023 on an USD8 billion joint venture petrochemical complex along the US Gulf Coast in 2023.

Blast at Spanish biodiesel plant kills two

Blast at Spanish biodiesel plant kills two

MOSCOW (MRC) -- At least two people died in an explosion at a Spanish biodiesel plant in the northeastern region of La Rioja on Thursday, said Reuters.

It was not immediately clear what had caused the explosion. Local TV showed footage of thick plumes of black smoke rising from the site.

A group of 250 children visiting a bird park nearby had to be evacuated, the central government's regional office said. All were unharmed.

The plant is operated by privately-owned company Iniciativas Bioenergeticas which produces biodiesel and glycerine there from recycled vegetable oils. The company did not immediately respond to a request for comment.

As per MRC, Repsol's industrial division posted an adjusted net income of €236m in the first quarter of this year, up sharply from the EUR73m it reported in the same period a year earlier, supported by strong refining earnings. Operating performance at the industrial business' refining unit was €334m higher year-on-year mainly due to higher refining margins and higher utilization rates at distillation units, the company said in a statement. In chemicals, operating performance was €41m lower year-on-year due to higher input prices and higher energy and CO2 costs.

Earlier it was reported that against the backdrop of a change in global strategy, the Spanish Repsol, formerly a major investor in the Russian fuel and energy complex, announced its withdrawal from Russia in December last year. The company will sell its shares in the oil assets of Evrotek-Yugra and ASB Geo to a Russian partner, Gazprom Neft.

Repsol is the largest oil and gas company in Spain and Latin America, one of the ten largest oil and gas corporations in the world.

Nexeo Plastics signs agreement with Highsun to distribute resins throughout the Americas

Nexeo Plastics signs agreement with Highsun to distribute resins throughout the Americas

MOSCOW (MRC) -- Nexeo Plastics, a leading global thermoplastics resin distributor, is pleased to announce an agreement with Highsun Engineering Plastics Co., Ltd., a subsidiary of Highsun Holding Group (also known as HSCC), to provide high-quality virgin polyamide resins to customers in the Americas, said the company.

“The number of packaging and virgin polymer applications continue to increase across the globe, and we are pleased to add Highsun’s high-quality products to our list of solutions,” said Arturo Hoyo, vice president, Nexeo Plastics Product Line Management. “Highsun is a leader in this market, and we are honored they have chosen to partner with us to carry their products." Highsun’s products are often ideal for mono and multilayer film applications that require thermoformability, improved oxygen and aroma barrier, and chemical and puncture resistance. Highsun resins are also an excellent option for compounding, extrusion and blow molding.

“Highsun’s and Nexeo Plastics’ synergistic competencies will create a valuable platform for our accelerated growth in the Americas. This partnership will see us harnessing the strength of Highsun’s world-leading polyamide polymerization capabilities and Nexeo Plastics’ integrated supply chain and its local network and relationships,” said Stanly Tan, Business General Manager, Highsun Engineering Plastics.

As per MRC, Nexeo Plastics, a leading global thermoplastics resin distributor, is pleased to announce the establishment of a new distribution facility in Costa Rica to better serve customers in Central America. The warehouse and delivery network are located in the Coyol Area near San Jose and are expected to be operational in May 2022. From there, Nexeo Plastics will distribute its extensive range of thermoplastic resins and compounds from world-class suppliers, shortening order to delivery times and helping customers optimize their working capital by potentially reducing their need for large-scale investments in inventory.

Nexeo Plastics is a leading global thermoplastic resins distributor, representing quality products from world-class suppliers, and serving a diverse customer base across North America, Latin America, Europe, Middle East, Africa and Asia. From material selection assistance to identifying supply chain and inventory solutions, we go beyond traditional logistics to provide value-added services across many industries, including automotive, healthcare, packaging, wire and cable, 3D printing and more.

Founded in Fujian, China in 1984, HSCC has more than 8000 employees and is active in more than 30 countries and regions of the world. HSCC has taken the lead in completing the integration of the comprehensive nylon 6 industrial chains, from cyclohexanone (CYC)—caprolactam (CPL) —polymerization—spinning—texturizing—warping/weaving to dyeing and finishing. As an integrated player focused on PA6, HSCC is committed to continue to extend its industrial value chains to optimize synergies.

Neste and ITOCHU celebrate first SAF delivery to Etihad Airways in Japan

Neste and ITOCHU celebrate first SAF delivery to Etihad Airways in Japan

MOSCOW (MRC) -- Neste and ITOCHU are celebrating the first delivery of Neste MY Sustainable Aviation Fuel to Etihad Airways, one of the airlines of the United Arab Emirates, in Japan, said Hydrocarbonprocessing.

The delivery of Neste MY SAF to Etihad marks the first time in Japan that SAF will be supplied to an overseas airline at an airport in Japan. The SAF will be delivered to Etihad’s aircraft at Narita International Airport. This milestone is a result of the recently expanded partnership between Neste and ITOCHU to grow the availability of sustainable aviation fuel in Japan. ITOCHU acts as the branded distributor of Neste MY Sustainable Aviation Fuel in Japan, making Neste’s SAF available first at the two largest Japanese international airports: Tokyo Haneda and Narita.

SAF is a key element to achieving aviation’s emission reduction goals, and both Neste and ITOCHU are committed to supporting Japan in achieving the target of 10% SAF use by 2030, set by the Ministry of Land, Infrastructure, Transport and Tourism (“MLIT”).

"This delivery of our Neste MY Sustainable Aviation Fuel to Etihad is a major step forward in further growing the use of our sustainable aviation fuel in the Japanese market,” says Sami Jauhiainen, Neste’s Vice President, Asia-Pacific, Renewable Aviation. “Our partnership with ITOCHU aims to support domestic and international airlines as well as other fuel suppliers at Haneda and Narita International Airports in accelerating the adoption of SAF to reduce the carbon emissions of flying. I’m excited to see this partnership is already achieving concrete results and I look forward to supporting more airlines in Japan going forward."

“This delivery of SAF to Etihad Airways is the result of the partnership with Neste, and we are glad to be the first company to supply SAF to an overseas airline in Japan. ITOCHU will continue to cooperate with Neste and airlines departing from Japanese airports, and contribute to the decarbonization of the airline industry through the stable supply of SAF”, says Tsuyoshi Matsumoto, ITOCHU’s general manager of Petroleum Trading Department.

Neste is committed to working together with the global aviation industry to achieve its emission reduction targets. Neste is currently expanding its SAF production capacity to 1.5 MMtons per annum by the end of 2023. That includes up to 1 MMtons of SAF production capacity in Neste’s Singapore refinery via the ongoing Neste Singapore Expansion Project, which will start operations by the end of the first quarter of 2023.

Neste MY Sustainable Aviation Fuel is a solution for reducing the direct greenhouse gas emissions of flying immediately. It can reduce greenhouse gas emissions by up to 80%*, in its neat form and over the life cycle, compared to fossil jet fuel. Neste-produced SAF is made from sustainably sourced, 100% renewable waste and residue raw materials. As a drop-in fuel it can be used with existing aircraft engines and airport fuel infrastructure, requiring no extra investment to them.

As per MRC, Neste and United Airlines announced that they have signed a new purchase agreement that provides United the right to buy up to 160,000 mtons (52.5 MM gallons) of Neste MY SAF over the next three years to fuel United flights at Amsterdam Airport Schiphol, and potentially other airports, as well. With this agreement, United became the first U.S. airline to make an international purchase agreement for SAF.

As MRC reported earlier, Neste has a target to process annually over 1 MM tons of waste plastic from 2030 onwards. The company plans to use liquefied plastic waste as a raw material at its fossil oil refinery to upgrade it into high-quality drop-in feedstock for the production of new plastics.