Huhtamaki grows in 1H 2022

Huhtamaki grows in 1H 2022

Huhtamaki, a Finnish packaging company, reported increases in both sales and profits in 1H 2022, said the company.

In 1H 2022, the company's sales increased by 31% to about EUR 2.2 bn while its profitability increased by 28% to around EUR 200 M. The flexible packaging segment's sales have increased by 43% to EUR 768 M. In North America, sales increased by 28% to EUR 712 M, while its food service business sin Europe, Asia and Oceania's (EAO) sales increased by 23% to EUR 543 M.

EAO's profit dropped by 6% while the flexible packaging segment's profit dropped by nearly 3%. North American profit has declined by 0.6%.

We remind, Huhtamaki and Stora Enso, both based in Finland but with global operations, say they have joined forces to launch a paper cup recycling initiative called The Cup Collective. The EU has set recycling target for paper and board packaging of 85 percent by 2030, say the two companies. Stora Enso is a paper and board producer that recently purchased a containerboard mill in the Netherlands. Huhtamaki makes packaging products with molded pulp and other materials, some with recovered paper content.

We remind, Huhtamaki has decided to initiate the process to divest its operations in Russia. This follows an earlier decision to stop all investments in Russia at the outbreak of the invasion of Ukraine. Huhtamaki considers that the current evolution of the situation and the long-term outlook in Russia will prevent the realization of its growth strategy and long-term ambitions in the country. Huhtamaki will continue to prioritize investments that capture the significant growth opportunities in the rest of the world, in line with its global ambitions and 2030 Strategy.
mrchub.com

BASF introduces a new additive manufacturing technology

BASF introduces a new additive manufacturing technology

BASF introduces the novel X3DTM technology, a new additive manufacturing technology for catalysts based on 3D printing, said the company.

Catalysts produced with this technology feature an open structure, resulting in a reduction of the pressure drop across the reactor and a high surface area, significantly improving the catalysts’ performance.

BASF has capabilities to supply commercial quantities. The technology offers a greater freedom of catalyst design compared to conventional production technologies. It brings catalysts’ performance to the next level and helps to customize catalysts to customers’ specific conditions and needs by designing infill pattern, fiber diameter and orientation. Customers can benefit from an increased reactor output, higher product quality and lower energy consumption. The novel catalysts are mechanically robust and proven in commercial plant operation externally and for several years in BASF.

BASF can apply the technology to a wide variety of existing catalytic materials, including base or precious metal catalysts as well as carrier materials. BASF’s Sulfuric Acid catalysts O4-111 X3D and O4-115 X3D are the first catalysts produced with the new technology and are used in industrial plants.

"With this technology, we are able to provide catalysts that are tailored to our customers’ needs to help significantly boost their plant performance while reducing energy consumption and increasing sustainability at the customer level”, said Detlef Ruff, Senior Vice President, Process Catalysts at BASF. “BASF’s technical service team will work with customers to identify the best catalytic technology for their individual projects,” said Chris Wai, Vice President, Global Chemical Market Catalysts at BASF.

BASF and Hannong Chemicals are planning to establish a production joint venture “BASF Hannong Chemicals Solutions Ltd.” BASF will hold 51% and Hannong Chemicals 49% shareholding, in the proposed joint venture. The joint venture will combine BASF’s strong technology and product innovation capabilities with Hannong’s highly efficient production capabilities to supply best-in-class non-ionic surfactant products to BASF and Hannong Chemicals, each with their own sales and distribution network, enabling the two companies to cater for increasing market demand.

mrchub.com

Petrobras to release new strategic plan in November

Petrobras to release new strategic plan in November

Petrobras is set to present its new strategic plan for the coming years in November, an executive for Brazil's state-run company said on Wednesday, hinting it should be "consistent" with the current focus on offshore oil formation known as pre-salt, said Reuters.

During an oil and gas event in Rio de Janeiro, Petrobras' executive director of governance, Salvador Dahan, said that the company will continue "what it has been doing" in pre-salt exploration and production.

"The plan continues to address our focus in Brazil and with development in the pre-salt, with a lot of investment in exploration and production, but also in the downstream (logistics segments)," he said.

Part of the future investment will also be focused in areas such as decarbonization and renewable energies, Dahan added without giving further details.

The executive did not disclosure the dollar value for the new plan. Last year, the company's plan stood at $68 B over five years, almost 25% more than the previous program.

We remind, India's state-run Bharat Petroleum Corp said it had signed a preliminary agreement with Brazil's national oil company Petrobras to help it diversify its crude oil sourcing. The MoU will help the company to explore sourcing of crude oil through long term contracts "especially considering the current geopolitical situations," it added.
India recently allowed BPCL to invest USD1.6 B for developing an ultra-deep water hydrocarbon block in Brazil. The block is majority owned and operated by Petrobras.

mrchub.com

Industries Qatar to fund QVC new PVC project

Industries Qatar to fund QVC new PVC project

Qatar Vinyl Co’s (QVC) new 350,000 tonne/year polyvinyl chloride (PVC) plant in Mesaieed is slated for completion in mid-2025, with Industries Qatar expected to have a direct 44.8% stake in the company in May 2026, said the company.

“During April 2022, an EPC (engineering, procurement and construction) contract was awarded for a new PVC plant, and the plant’s construction is expected to be completed by mid-2025,” Industries Qatar said on 4 October, confirming ICIS’ story in April.

Details on plant capacity and investments were not disclosed by the company. The PVC plant, which will be the first in Qatar, will be integrated with QVC’s existing vinyl chloride monomer (VCM), ethylene dichloride (EDC) and caustic soda facilities in Mesaieed.

Its PVC output is expected to cater to the growing requirements of the Middle East’s construction industry.

We remind, QatarEnergy has selected Eni as a new international partner in the North Field East (NFE) expansion project. QatarEnergy will hold a 75% interest while Eni will hold the remaining 25% interest, the company said.

Qatar Vinyl Company (QVC) was established in 1997 as a limited Qatari shareholding company. The company’s shareholders are Mesaieed Petrochemical Holding Company (55.2%), QAPCO (31.9%) and QatarEnergy (12.9%). QVC produces 370 ktpa of Caustic Soda (Dry Basis), 180 ktpa of Ethylene Dichloride (EDC), 355 ktpa of Vinyl Chloride Monomer (VCM) and 15 ktpa of 32% Hydrochloric Acid solution.
mrchub.com

Nexam Chemical takes first major order from South Korea

Nexam Chemical takes first major order from South Korea

Nasdaq First North-listed Nexam Chemical – which invents, develops, produces and sells additives to the plastics industry worldwide – takes the largest order to date in the South Korean market, said the company.

The order applies to the Reactive Recycling area for recycled PET to a value of approximately SEK 1 million. Nexam Chemical has previously announced that the company has a new agent in Seoul, which has successfully started to develop the market with a focus on reactive recycling. Reactive Recycling, is a product series from Nexam Chemical that can significantly improve the properties of plastics in the recycling process.

"Nexam has the chemical expertise to recycle plastic without destroying the original properties. Therefore, this is an area of ??the future for us. With this order, we go from delivering sample volumes to an order to be used on a larger industrial scale, which is a confirmation of how well our recycling products work," says Johan Arvidsson, CEO of Nexam Chemical and continues: "This time we are also doing business in a new part of the world. It strengthens our vision of what we can achieve in the rapidly growing plastic recycling market".

Nexam Chemical develops technology and products that make it possible to significantly improve the production process and properties of most types of plastics in a cost-effective manner and with retained production technology. The improved properties include strength, toughness, temperature and chemical resistance as well as service life.

As per MRC, Nexam Chemical has received an order from an existing customer in the area of PET additives for deliveries to the USA. The customer is a market-leading manufacturer of PET foam. It is the single largest order in the United States and also one of the largest ever for Nexam Chemical globally. Nexam Chemical has previously delivered products to this customer and this order confirms good growth in the business.
mrchub.com