KBR plastics recycling technology selected by GS Caltex, South Korea

KBR plastics recycling technology selected by GS Caltex, South Korea

MOSCOW (MRC) -- KBR, Inc. (Houston) announced that it has won a contract from GS Caltex (Seoul, South Korea)for its planned plastics circularity project in South Korea, said the company.

Based on KBR and Mura’s Hydro-PRT process, the 50,000-ton/yr unit will convert waste plastics into raw materials for conversion into new plastics, achieving total circularity.

“We are thrilled to support GS Caltex in their effort to integrate circularity in their value chain,” said Doug Kelly, KBR President, Technology. “Hydro-PRT is positioned to play a pivotal role in KBR’s effort to help our clients’ ESG objectives through our sustainability platform."

“Along with KBR, I am pleased to support GS Caltex in its endeavor to establish early leadership in plastics circularity,” said Dr. Steve Mahon, CEO of Mura Technology. “Our differentiated, proven, and scalable Hydro-PRT process is designed to enable companies to achieve their ESG goals and we are excited to work with the team of GS Caltex for the same."

“Deploying KBR’s plastics recycling technology, offered in alliance with Mura, marks one of the key factors for us at GS Caltex towards meeting our circularity targets. With this contract we move a step ahead in the sustainable and green technology sector by establishing a greener facility,” said Woo Jin Choi, Vice President of GS Caltex.

As MRC reported earlier, in July 2021, KBR was awarded technology licensing contracts by PKN Orlen for KBR's leading Solvent Deasphalting (SDA) and Residue Fluid Catalytic Cracking (RFCC) technologies as part of PKN's Bottom-of-the-Barrel project for its Plock Refinery in Poland.

KBR has nearly 50 years of experience designing, developing, and supporting cryogenic liquified natural gas facilities and has extensive experience in hydrogen both through its work in the space industry and in industrial facilities. This deep domain knowledge makes KBR ideally suited to provide high end engineering and be the integrator for cryogenic liquid hydrogen facilities.

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Sika nine-month net profit rises amid stronger sales

Sika nine-month net profit rises amid stronger sales

MOSCOW (MRC) -- Sika AG said that net profit rose in the first nine months of the year, led by stronger sales, said the company.

The Swiss specialty-chemicals company posted net profit of 885.9 million Swiss francs ($883.1 million), up 16% compared with the same period a year earlier.

Net sales was CHF8.00 billion, compared with CHF6.86 billion last year, leading Sika to increase its full-year sales guidance.

For the fiscal year, the company says it now expects sales in local currencies to increase by over 15%. It had previously guided for an over-10% increase in sales.

Sika continues to expect an "over-proportional" increase in earnings before interest and taxes in 2022, the company said.

"It is our goal to reach sales of CHF10 billion for the first time in 2022 and to increase our operating profit by an over-proportional amount," says Sika Chief Executive Officer Thomas Hasler in a release.

We remind, Sika has begun the process of looking for “a competent buyer” for part of the MBCC admixture business it is acquiring. Closing of the MBCC acquisition has been delayed until H1 2023 to allow for an in-depth examination by UK regulator, the Competition and Markets Authority (CMA) which is concerned about its impact on the UK's chemical admixtures market. Chemical admixtures are an essential input for concrete and cement used in the construction industry.
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Evonik sells TAA derivatives business to SABO

Evonik sells TAA derivatives business to SABO

MOSCOW (MRC) -- With the sale of its TAA derivatives business to SABO, Evonik is taking the next step in focusing its portfolio on specialty chemicals, said the company.

The Italian chemical company is one of the world's leading manufacturers of light stabilizers, for which TAA derivatives are a raw material. On the sales price, no details are disclosed. The transaction is subject to approval by the competent Evonik committees. The closing is expected to be in early 2023.

“We want to continue our profitable growth in specialty chemicals,” says Christian Kullmann, Chairman of the Executive Board of Evonik. “That includes divesting businesses that do not longer fit to our strategic focus. We are thus concentrating our investment resources and at the same time enabling these businesses to better develop the future under new ownership."

The TAA business is part of Evonik's Specialty Additives Division. Around 250 people are working at the two production sites in Marl, Germany, and Liaoyang, China.

TAA derivatives are essential precursors to produce light stabilizers. The resulting additives are used in low concentrations to protect and stabilize polymers against decomposition by light, oxygen, and heat, and can significantly increase the service life of plastics. The TAA derivatives are used in many products, for example in the automotive and construction industries and in the production of agricultural films.

“We are handing over a strong business to an experienced partner,” says Claudine Mollenkopf, Head of the Specialty Additives division. “The sale to SABO opens the TAA business new opportunities for future growth."

With the acquisition, SABO strengthens its own backward integration in the light stabilizer market and its global footprint, through the acquisition of the Chinese site in Liaoyang.

We remind, business line Coating Additives of Evonik Industries AG (Essen, Germany) is expanding production capacity of ACEMATT precipitated matting agents at its Taiwan manufacturing facility. The significant capacity increase will help meet growing demand for matting agents in Asia, with the capacity expansion expected to be completed by the second half of 2023.

Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of EUR15 billion and an operating profit (adjusted EBITDA) of EUR2.38 billion in 2021. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers.
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The head of KazMunayGas held meetings with the leadership of a number of companies in Seoul

The head of KazMunayGas held meetings with the leadership of a number of companies in Seoul

MOSCOW (MRC) -- KazMunayGas said the country’s authorities would support possible polyethylene (PE) and polypropylene (PP) joint projects with South Korean companies, said the company.

KazMunayGas chairman Magzum Mirzagaliyev discussed possible joint projects to produce PP and PE with executives of South Korea's DAELIM and Samsung Engineering, KazMunayGas said in a statement.

Petrochemical and gas chemical projects in Kazakhstan can benefit from “systemic measures of government support,” according to the statement dated 21 October.

KazMunayGas is currently moving towards finalising implementation of its new 500,000 tonnes/year PP project in Atyrau, Western Kazakhstan.

It is also considering a possible project to build a 1.25m tonne/year PE unit in Kazakhstan.

We remind, Chevron Corporation, through its subsidiary Chevron Munaigas Inc. (Chevron), and JSC NC KazMunayGas (KMG) have announced a memorandum of understanding (MoU) to explore potential lower carbon business opportunities in Kazakhstan. Chevron and KMG plan to evaluate the potential for lower carbon projects in areas such as carbon capture, utilization, and storage (CCUS); hydrogen; energy efficiency and methane management; and carbon financial disclosure methodology.
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Alpek increased its revenue for Q3 by 42%

Alpek increased its revenue for Q3 by 42%

MOSCOW (MRC) -- Alpek's revenue for the third quarter was USD2.9 billion, up 42% from the year-ago-period, said the company.

Strong results for polyester and expandable polystyrene offset weakness in polypropylene, says the company. Alpek Polyester S.A. de C.V (Alpek) reported an all-time high Comparable EBITA of USD424 million, a 15% increase quarter on quarter.

In April of this year, Alpek finalised its acquisition of Octal Petrochemicals which added over 1m tonnes of installed capacity over four sites. As a result of this acquisition, Alpek reported that volume increased to 1.36m tonnes, an increase of 8% quarter on quarter.

Additionally, the 81% increase in Comparable EBITA year on year was driven by higher-than-expected margins as a result of decreased feedstock costs, particularly for the PET sector.

Alpek expects a continuation of the strong Q3 results for the remainder of 2022, remaining in line with guidance, affected by the normal demand seasonality expected in Q4.

We remind, Alpek, Indorama and FENC announced earlier that Corpus Christi Polymers (CCP) will resume construction on the facility in August. The plant is expected to begin production of polyethylene terephthalate (PET) and purified terephthalic acid (PTA) in early 2025. Construction of the state-of-the-art plan is resuming following a period of pandemic-related disruptions. The new facility is expected to be the largest vertically integrated PTA-PET production plant in the Americas, with annual capacities of 1.1m tonnes of PET and 1.3m tonnes of PTA. It will employ three state-of-the-art technologies.
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