Eastman Chemical to increase prices in July

Eastman Chemical Company is increasing prices on the following products 1 Jul 2022, or as contracts allow, said the company.

Eastman Admex, (All Grades and Package Types), list and off-list price increase of USD0.075/lb (USD0.170/kg) in North America and Latin America; Eastman Versabond, All Grades and Package Types: list and off-list price increase of USD0.100/lb (USD0.220/kg) in North America and Latin America; Eastman Benzoflex, All Grades and Package Types: list and off-list price increase of USD0.100/lb (USD0.220/kg) in North America and Latin America; Eastman Versafix, All Grades and Package Types: list and off-list price increase of USD0.100/lb (USD0.220/kg) in North America and Latin America; and Eastman TEG-2EH, All Grades and Package Types: list and off-list price increase of USD0.100/lb (USD0.220/kg) in North America and Latin America.

As per MRC, Eastman has entered an exclusive negotiation with Port-Jerome-sur-Seine as the preferred location of the molecular recycling facility it plans to build in France. This is an important step toward a significant milestone in the company's plan to invest up to USD1 B and build the world's largest material-to-material molecular recycling plant in France - a facility that will recycle approximately 160,000 tpy of hard-to-recycle polyester waste.

We remind that Eastman is increasing capacity for its Naia-brand cellulosic filament yarn at its plant in Barcelona, Spain. Eastman is increasing its capacity to produce Naia cellulosic filament yarns at its plant Barcelona, by 30% by mid-2021, and by more than 50% by the end of 2022.

According to MRC's ScanPlast report, Russia's estimated PET consumption remained steady in December 2021 year on year. December estimated PET consumption totalled 67,880 tonnes (67,710 tonnes in December 2020).

Eastman is a multinational chemical company serving customers in approximately 100 countries. Sales in 2015 amounted to around USD9.6 Billion. The company is headquartered in Kingsport, Tennessee, USA. The company employs approximately 15 thousand people around the world.
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The American Chemistry Council (ACC) filed comments with the Securities and Exchange Commission (SEC) on June 17 regarding the Commission’s proposed rulemaking, "The Enhancement and Standardization of Climate-Related Disclosures for Investors, said Americanchemistry.

ACC and its members are committed to being partners and solution providers in supporting the nation’s path to a lower-emissions economy. Our companies are continually seeking new ways to improve energy efficiency and reduce emissions while advocating for policies to enable climate progress. ACC has had engagement with robust and rigorous third-party climate disclosure frameworks for nearly a decade.

“ACC has long supported an approach to disclosure of climate-related information that is company-specific, guided by materiality, and built off existing third-party frameworks,” said ACC Senior Director for Energy, Climate, and Environment Charles Franklin. “As proposed, the SEC rule does not reflect these core principles."

“The SEC proposal does not pass the ‘materiality’ test, as disclosures are not confined to business-relevant information that governs investment decisions,” Franklin continued. “Also problematic, the proposal applies a ‘one size fits all’ standard rather than the flexible, business-specific approach used by influential third-party frameworks."

Companies share climate-related information with the SEC when it meets the standard definition of financial materiality. While some companies provide additional information in sustainability reports and other public documents, such voluntary disclosures cannot and should not be used to justify economy-wide mandates or the rigid content, attestation, audit, and liability standards proposed here. Mandatory disclosure via SEC filings would upend existing corporate programs and increase the cost and complexity of systems used for compliance. It could also hinder company efforts to develop, advance, report, and invest in sustainability actions.

As per MRC, Air Products, a world leader in industrial gases and large-scale project development, execution and operation, today announced the signing of a long-term supply agreement with Indian Oil Corporation Limited (IOCL), India’s flagship national oil company. Air Products will build, own and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to IOCL’s Barauni Refinery in Bihar, India.
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PTT Global Chemical America announced plans to build a new plastics recycling facility in central Ohio, said Timesleaderonline.

PTTGCA, the company that has proposed construction of an ethane cracker plant in Belmont County, and the Solid Waste Authority of Central Ohio signed a non-binding memorandum of understanding to locate a new recycling complex on SWACO property.

PTTGCA plans to construct and operate a manufacturing plant of recycled plastics in Grove City with a final investment decision to be made by the end of 2022. The company has signed a separate MOU with Rumpke regarding feedstock plastics.

As per MRC, Petronas and key energy players at the ASEAN Energy Sector Methane Roundtable 2022 are intensifying collaboration on methane emissions management in the region by leveraging collective capabilities, global best practices and actionable insights to progress the shared ambition towards a lower-carbon future. The virtual Roundtable, the second in the series held on 19 May 2022, was hosted by PETRONAS and supported by Thailand’s PTT Public Company Limited (PTT) and Indonesia’s PERTAMINA. The initiative is part of the collaborative effort between energy companies to raise awareness, elevate conversation and champion the climate change agenda in the region, particularly on effective methane emissions management.
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Air Products has appointed Sushila Mani as Managing Director of Prodair Air Products India, said Gasworld.

Announcing the news on 20th June, the industrial gas giant said Mani will lead its engineering, procurement and construction (EPC) centres in Pune and Vadodara, India.

Dr. Samir Serhan, said, “I am very pleased that Sushila has joined Air Products. Sushila has over 30 years’ experience in the EPC industry, as well as the business acumen and leadership skills to continue leading the region’s growth and the ongoing development of our outstanding, talented team in India."

"We are excited to have Sushila join our organisation and are confident her strong leadership will build on the successes we already have and enable new opportunities for our EPC organisation to support India’s energy and sustainability growth strategy well into the future."

Mani joins the Air Products team from Worley India, where she held a senior director role and managed an office of over 600 employees and had full profit and loss responsibility. Prior to that Mani led Project Management at BASF Chemicals India with accountability for project and construction management, construction safety and quality for all capital investment projects executed in Southeast Asia.

As per MRC, Air Products, a world leader in industrial gases and large-scale project development, execution and operation, today announced the signing of a long-term supply agreement with Indian Oil Corporation Limited (IOCL), India’s flagship national oil company. Air Products will build, own and operate (BOO) a new industrial gases complex supplying hydrogen, nitrogen and steam to IOCL’s Barauni Refinery in Bihar, India. The new industrial gas complex will aid IOCL’s capacity expansion from six to nine million tonnes per annum producing Euro-VI or BS-VI compliant gasoline and diesel at its Barauni complex.
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SABIC, a global leader in the chemical industry, has announced that its production of a new range of SABIC® polypropylene (PP) compounds and STAMAX™ PP resins based on bio-renewable and advanced recycled feedstock at Genk, Belgium, has received TUV Nord accreditation under the International Sustainability & Carbon Certification (ISCC) PLUS scheme, said the company.

This certified product offering aligns with SABIC’s extensive TRUCIRCLE™ initiative for accelerating the transition of the plastics industry to a circular economy and meets a globally growing customer demand for more sustainable material solutions.

"We are extremely proud of being the first in the industry to obtain ISCC Plus certification for PP compounds and resins produced with feedstock from renewable and recycled sources. This gives our PP customers a valid alternative for enhancing their environmental balance and achieving ambitious sustainability targets,” says Lada Kurelec, General Manager for PP & E4P[1] Business, SABIC. “The large-scale production of these new materials at our manufacturing site in Genk also ensures security of supply, while it contributes to our efforts of mitigating the impact of our products on climate change and fossil depletion."

The ISCC Plus certification honors the implementation of a mass balance accounting system that traces the material flow across complex supply chains from the feedstock to final products. The approach allows OEMs to document and quantify the sustainability of their applications made from certified materials. Moreover, brand owners can use the certification to highlight the sustainable material content of their products, offering consumers a more responsible choice. The mass balance accounting follows predefined and transparent rules, which then define whether a product can be classified as renewable or circular.

For SABIC, this means that for each ton of renewable or circular feedstock fed into the production process to substitute fossil-based feedstock, approximately one ton of the output material can be classified as either renewable or circular.

As per MRC, SABIC has introduced LNP ELCRIN WF0061BiQ resin, which uses ocean-bound PET bottles as a feed stream for chemical upcycling into polybutylene terephthalate (PBT) resin, said Interplasinsights.
Ocean-bound plastic is mismanaged waste that originates within 30 miles (50 km) of the coast and therefore likely to end up in the ocean. The new grade is the latest addition to SABIC’s extensive portfolio of chemically upcycled LNP ELCRIN iQ materials.

Saudi Basic Industries Corporation (SABIC) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
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