BEWI acquisition of Jackon to conclude by end of October

BEWI acquisition of Jackon to conclude by end of October

BEWI’s acquisition of expandable polystyrene (EPS) and extruded polystyrene (XPS) producer Jackon is expected to conclude in the next one to two weeks, said the company.

Therefore, the acquisition is expected to be officially completed before the end of October. The acquisition was previously expected to conclude by the end of Q3 2022, following the completion of divestments.

BEWI originally announced the plans in October 2021 to acquire all shares in Jackon, and following this, offers were accepted by all shareholders in H1 2022.

EPS is a rigid form of polystyrene (PS) used in insulation foams for the construction industry as well as for packaging.

BEWI maintains its previously communicated expectations of synergies of at least EUR12m to EUR15m.

BEWI is an international provider of packaging, components, and insulation solutions. The company’s commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy. BEWI ASA is listed at the Oslo Bors under ticker BEWI.

Kamakshi SUDPACK opens new plant in India

Kamakshi SUDPACK opens new plant in India

The state-of-the-art Kamakshi SUDPACK production plant near Ahmedabad opened with a festive ceremony, said Polymerupdate.

The new site is a key component of SUDPACK’s internationalization strategy – as well as a strategic hub for the intensified development of the rapidly growing market of the Indian subcontinent and for meeting the demand for high-quality flexible films in a broad range of industries with a comprehensive product and service portfolio.

Asia, in addition to Eastern Europe and Africa, is becoming increasingly important for food production as well as in medicine and technology. The joint venture with Kamakshi Flexiprints is thus an important element for SUDPACK in its internationalization strategy. Located in Ahmedabad in India and founded in 1994, the manufacturer of printed, flexible packaging materials supplies the food and non-food industries with flexible packaging solutions. Now after approximately a year and a half of construction, the opening ceremony was held for the new Kamakshi SUDPACK Pvt. Ltd. production site. The festivities were attended by SUDPACK’s Managing Partner Carolin Grimbacher and its Managing Director Tharcisse Carl, the Managing Directors of Kamakshi SUDPACK, Harish Goel and Narendra Dhupar, in addition to high-ranking local politicians.

The two days of celebration began with a press conference during which Carolin Grimbacher provided a brief overview of the company group’s strategy. This presentation was followed by a presentation about SUDPACK’s sustainability roadmap – a subject that is also of growing relevance in India. After the press conference, many thanks were expressed to the companies involved in constructing the new site.

On the following day, the official opening ceremony for the site was on the agenda. During the ceremony, Tharcisse Carl presented his vision for Kamakshi SUDPACK – and explicitly highlighted the outstanding cooperation in recent months among everyone involved.

The new Kamakshi SUDPACK plant is equipped with cutting-edge extrusion, printing, coating and laminating machines for the production and finishing of high-performance films. It complies with the IGBC Standards for green building. The site will also comply with future international regulations and standards, such as GMP (Good Manufacturing Practice), BRC, FSMS ISO 22001, QMS ISO 9001 and SMS-ISO 45001.

The complex covers a total area of approximately 47,000 m? and is divided into areas for extrusion, printing, laminating and pouch production. In recent weeks, the individual lines were gradually commissioned and powered up to make it possible to already produce flexible packaging solutions at the site that meet the highest standards of quality.

We remind, Indian Oil Corporation Limited is expanding the petrochemical capacity of its Gujarat refinery (LuPech Project). Nuberg EPC, the leading Indian Global EPC and turnkey project management company today announced that it has been selected by Indian Oil for the construction of Rs 650+ crore Sulfur Recovery Plant consisting of Sulfur Recovery Unit (1 x 400 TPD) including control room and substation for sulfur block under international competitive bidding. Indian Oil, a Government of India Enterprise, is the country's top refiner and fuel retailer. The Sulphur Recovery Plant is being built with in Indian Oil's existing facility of Vadodra, Gujaratfor Petrochemical and Lube Integration Project.

SUDPACK is a leading manufacturer of high-tech films and packaging materials for the food, non-food, and medical product industries. Our solutions ensure maximum product protection as well as additional pioneering features with minimum material input.

Plastics Industry Association names Mónica Mancilla Cooke senior director, human resources

Plastics Industry Association names Mónica Mancilla Cooke senior director, human resources

The Plastics Industry Association (PLASTICS) is pleased to announce that Monica Mancilla Cooke has been named Senior Director, Human Resources, effective immediately, said Polymerupdate.

“We’re building a larger, top-flight team at PLASTICS - it takes someone with Monica’s HR expertise to help us ensure the success of our professional environment,” said Matt Seaholm, President and CEO of PLASTICS. “Monica brings a wealth of compliance, talent recruitment and development experience that will help PLASTICS continue to grow and thrive.”

Cooke’s wide-ranging HR background comprises key roles in a variety of organizations in the Washington Association arena, including her work with the Information Technology Industry Council, American Petroleum Institute and International Republican Institute.

“I am humbled to be part of an organization that supports a workforce of nearly one million, that works to protect and promote the direction of the plastics industry,” said Cooke. “We have an exceptional team, and I am honored to have the opportunity to make a meaningful difference for PLASTICS.”

Since 1937, PLASTICS has been working to make its members and the industry more globally competitive while advancing recycling and sustainability.

We remind, Trinseo, a specialty material solutions provider, today announced it has appointed Bregje (“Bee”) Roseboom-Van Kessel to the newly created role of Senior Vice President, Base Plastics, effective Nov. 1, 2022. Senior Vice President, Base Plastics, Roseboom-Van Kessel will join Trinseo’s executive leadership team and will be based in Pfaffikon, Switzerland. In this role, she will be responsible for all commercial activities in the Base Plastics business and will report to Andre Lanning, Senior Vice President and Chief Commercial Officer.

Indorama Ventures opens the largest PET recycling plant in the Philippines in partnership with Coca-Cola

Indorama Ventures opens the largest PET recycling plant in the Philippines in partnership with Coca-Cola

MOSCOW (MRC) -- Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced the official opening of its PETValue bottle-to-bottle recycling plant in the Philippines, in partnership with Coca-Cola Beverages Philippines—the bottling arm of Coca-Cola in the country, said the company.

The plant is IVL’s latest recycled PET facility as the global integrated petrochemicals company builds on its position as the world’s largest producer of recycled resin used in plastic beverage bottles.

PETValue Philippines, located in General Trias in Cavite Province south of Manila, is the country’s first food-grade, bottle-to-bottle recycling facility, and the largest in the Philippines. It was built by IVL in partnership with Coca-Cola Beverages Philippines, Inc. in accord with The Coca-Cola Company’s ‘World Without Waste’ program to collect and recycle the equivalent of every bottle it sells by 2030. As a result of the joint venture with Coca-Cola, IVL will recycle about 2 billion additional used PET (polyethylene terephthalate) plastic bottles in the Philippines every year and create about 200 new local jobs. The plant will wash and shred post-consumer bottles into flakes to produce recycled PET resin that is suitable for use in food-contact applications.

Managed under IVL’s regional business lead for Recycling Vertical Mr. Anivesh Tewari, PETValue brings together an experienced leadership team led by Site Manager Mr. Joel Potian, who has nearly three decades of manufacturing and chemical engineering expertise in the Philippines and Korea. He is supported by Mr. Aris Castillo as Chief Financial Officer, formerly from Coca-Cola Beverages Philippines with more than 10 years in supply chain finance and manufacturing.

IVL has already surpassed the half-way milestone towards meeting its 2025 target of increasing its recycling capacity to 750,000 tons per year. The company is investing US$1.5 billion globally to expand recycling facilities and sustainable production, including a new ambition to reach post-consumer PET bale input of 1,500,000 tons per year by 2030.

PETValue will introduce the most advanced technology and infrastructure in the Philippines, helping to improve collection and recycling rates and prevent leakage into waterways. The new plant will encourage a more robust waste value chain to help address the growing post-consumer waste management problem in the Philippines. The unique PET plastic used in soft drinks and water bottles is 100% recyclable and the most collected plastic packaging in the world. Global brands including Coca-Cola are using more recycled plastic in their bottles to close the loop and deliver a circular economy.

We remind, Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its commitment to science-based targets by the Science Based Targets initiative (SBTi) to help drive its ambitious sustainability programs. The company will also participate in the SBTi Expert Advisory Group for the chemicals industry.

Indorama Ventures Public Company Limited, listed in Thailand, is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Europe, Africa, Americas, and Asia Pacific. The company’s portfolio comprises Combined PET, Integrated Oxides and Derivatives, and Fibers. Indorama Ventures products serve major FMCG and automotive sectors, i.e., beverages, hygiene, personal care, tire, and safety segments. Indorama Ventures has more than 26,000 employees worldwide and consolidated revenue of USD14.6 billion in 2021. The Company is listed in the Dow Jones Emerging Markets and World Sustainability Indices (DJSI).

CF Industries, ExxonMobil and EnLink enter large-scale carbon capture, transport and storage agreement

CF Industries, ExxonMobil and EnLink enter large-scale carbon capture, transport and storage agreement

Gov. John Bel Edwards and the executives of major global energy corporations CF Industries, ExxonMobil and EnLink Midstream announced an “unprecedented” decarbonization collaboration aimed at dramatically reducing industrial CO2 emissions in Louisiana, said Hydrocarbonprocessing.

The announcement – described as a potential business prototype for industrial-scale carbon capture and sequestration projects – was made Wednesday at the State Capitol.

The three companies have entered into the largest-of-its-kind commercial agreement to capture emissions from CF Industries’ Ascension Parish manufacturing complex, transport the CO2 through EnLink’s transportation network and permanently store it underground on property owned by ExxonMobil in Vermilion Parish.

“Today’s announcement of this unprecedented, large-scale, low-carbon partnership is a key milepost on Louisiana’s path toward a brighter future for our climate, our economy and our people,” Gov. Edwards said. “The collaboration and innovation to bring carbon capture and storage technology forward at this scale reaffirms our state’s ability to grow our economy without sacrificing our long-term emission-reduction goals to net zero by 2050."

A leading global manufacturer of hydrogen and nitrogen products, CF Industries recently announced a $198.5 million plan to build a CO2 dehydration and compression unit at its ammonia production plant in Donaldsonville. ExxonMobil has signed an agreement with EnLink Midstream to transport the CO2 through EnLink’s pipeline network to a 125,000-acre secure geologic storage location in Vermilion Parish approximately 100 miles south and west of CF’s facility.

The companies expect start-up for the project to be scheduled for early 2025. They estimate the project will allow them to capture and sequester up to 2 million metric tons of CO2 annually, equivalent to replacing approximately 700,000 gasoline-powered cars with electric vehicles.

CF Industries expects to market up to 1.7 million metric tons of blue ammonia annually. A chemical process is considered “blue” when CO2 emissions are captured before their release into the air, making the process more carbon-neutral. Demand for blue ammonia is expected to grow significantly as a decarbonized energy source for hard-to-abate industries, both for its hydrogen content and as a fuel itself, because ammonia’s components – nitrogen and hydrogen – do not emit carbon when combusted.

We remind, ExxonMobil is gradually shutting down its 235,000 barrel per day (bpd) Fos-Sur-Mer refinery in France as a result of ongoing strike action. Walkouts caused the gradual shut down of Exxon's 240,000 bpd Port Jerome-Gravenchon oil refinery and Notre Dame de Gravenchon (NDG) petrochemical site in France on Sept. 20 before spreading to Fos-Sur-Mer 24 hours later.