Yansab to shut down complex for 53-day scheduled preventive maintenance

Yansab to shut down complex for 53-day scheduled preventive maintenance

MOSCOW (MRC) -- Yanbu National Petrochemical Co. (Yansab) announced that the 53-day scheduled turnaround of its complex for preventive maintenance, under the stipulated industrial and technical standards, will start as of Jan. 10, 2023, said Argaam.

This turnaround will contribute to enhancing the reliability of the petrochemical producer’s plants and improving its operational and production efficiency. It also comes at a time that the global growth is forecasted to slow. This preventive maintenance was referred to in the board's 2021 report, Yansab said in a statement to Tadawul today, Nov. 20.

The move’s expected financial impact depends on the actual duration of the maintenance period, in addition to the average sale prices of products as well as feedstock prices, which are difficult to predict.

The related financial impact will reflect on the first and second quarters of 2023. Yansab indicated that it will work to reduce this influence by optimizing the available inventory.

The necessary actions have been taken to limit the potential impact on customers, it added, noting that any significant future developments will be duly announced.

We remind, Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 510.6 million in the first nine months of 2022, a 57% decrease from SAR 1.196 billion in the year-ago period.

mrchub.com

ICIG completes the acquisition of Benvic

ICIG completes the acquisition of Benvic

MOSCOW (MRC) -- International Chemical Investors (ICIG) has successfully completed the acquisition of the compounds business of Benvic Group SAS from PVC Europe Group S.a.r.l, an investment subsidiary of Investindustrial, said the company.

Benvic develops, produces and markets thermoplastic solutions based on PVC as well as engineering polymers and bio-polymers compounds.

With approximately EUR500 million of sales and 630 full time employees (FTEs), the company is one of Europe’s leading PVC compounders in terms of volume as well as a leader in several specialty compounding applications in the US.

Benvic will form the basis for a new “Compounds” platform within ICIG and will continue to operate under the “Benvic” branding and market approach. The signing of the transaction was announced in late August and has since received all customary approvals.

We remind, Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability.

Founded in 1963 as a subsidiary of Solvay, Benvic develops, produces and markets highly customized, innovative thermoplastic solutions based on PVC, engineering compounds, and bio-polymers.

International Chemical Investors is a privately owned industrial group with total sales of around EUR4 billion. ICIG is focusing on four main platforms: Fine Chemicals under the WeylChem brand, Chlorovinyls under the Vynova brand.

mrchub.com

Wood and Enterprise settle propane project lawsuit

Wood and Enterprise settle propane project lawsuit

MOSCOW (MRC) -- John Wood Group has settled a lawsuit brought by Enterprise Products relating to delays on a propane dehydrogenation (PDH) project in Mont Belvieu, Texas, USA, said Chemanager-online.

The UK group said it would pay Enterprise USD115 million in one installment by Nov. 18.

Enterprise filed the lawsuit against Amec Foster Wheeler, a company Wood acquired in 2017, and one of its subsidiaries in Harris County Court, Texas in September 2016. The lawsuit claimed cost increases and delays on a cost-reimbursable plus fixed fee contract secured in July 2013 to engineer, procure and construct the unit.

The PDH plant started operation in early 2018 after Enterprise granted a new contract to Optimized Process Designs to complete the work. Enterprise subsequently decided to build a second PDH unit at Mont Belvieu, which is due to start up in the first half of 2023, producing nearly 750,000 t/y of polymer-grade propylene.

As per MRC, Wood has been awarded the front-end engineering design (FEED) scope for Gen2 Energy’s green hydrogen production facility, located in Mosjoen in northern Norway. Gen2 Energy is a Norwegian company dedicated to developing, building, owning and operating an integrated value chain for green hydrogen. The company targets having several large-scale production facilities for green hydrogen, making it easy and cost efficient for consumers to adapt to green hydrogen.

mrchub.com

MEGlobal decreased MEG prices for December

MEGlobal decreased MEG prices for December

MOSCOW (MRC) -- MEGlobal has nominated its December 2022 monoethylene glycol (MEG) Asian Contract Price (ACP) at USD800/tonne, down by USD10/tonne from the November ACP, a company source said.

The price is on a CFR (cost and freight) Asia basis. Asia MEG market has fallen into a standstill amid the cost pressure and slowing demand with very limited discussions heard in the market towards the lull year-end demand season.

MEGlobal announced that its Asian Contract Price (ACP) for monoethylene glycol (MEG) will be USD810/MT CFR Asian main ports for arrival November 2022. The November 2022 ACP reflects the short term supply/demand situation in the Asian market.
mrchub.com

Milliken offers added value for recycled polypropylene

Milliken offers added value for recycled polypropylene

MOSCOW (MRC) -- Milliken & Company, a diversified global manufacturer with more than 70 locations worldwide, will use this fall’s K 2022 trade fair to introduce our latest DeltaFlow™ Viscosity Modifier for recycled polypropylene (rPP), based on latest viscosity-modification chemistry, said the company.

At the K Show in Dusseldorf from October 19-26, we’ll be showing our broad portfolio of plastic additives and colorants, but these new grades of DeltaFlow deserve special attention. All our viscosity modifiers are solid concentrates designed to specifically help polypropylene (PP) recyclers by increasing the melt flow rate of rPP for injection molding processes. This serves to reduce energy use, enhance circularity and advance our goal of creating a healthier future.

Our newly developed DeltaFlow grades use the latest viscosity-modification chemistry. The technology also has lower volatile organic compounds (VOCs) and improved organoleptics and could nicely complement the advances being made in recycling machinery, according to Allan Randall, Global Product Line Manager. As communicated earlier this year, as an additional sign of our commitment to the recycling industry, Milliken is further expanding production capacity in our German manufacturing plant by 60 percent.

Recycled polypropylene – encompassing recyclers, compounders, converters, and brand owners – is the key target market for this product. DeltaFlow-optimized resins allow for lower processing temperatures, which can enable converters to significantly reduce processing temperatures, reduce energy use, boost productivity and improve processability.

Brand owners stand to benefit, as well. DeltaFlow enables rPP to feasibly replace virgin resin in many end-use applications. This allows brands to use more rPP in their products, thereby helping them to meet their sustainability goals.

“Demand in the market for recycled content is only increasing,” noted Randall. “These products enhance the properties of rPP and make it more suitable for more applications, thereby helping to close the loop in more end uses. Our goal is to enable more and better utilization of rPP. This product line helps to deliver on that promise.”

Milliken is the only company offering this latest viscosity-modification chemistry in an easy-to-handle, non-dusting, solid concentrate form for the recycling market. “Our initial focus will be on Europe, but we intend to offer these DeltaFlow options globally,” Randall added.

We remind, Milliken, an American polymer additives and coloring company, has launched a new masterbatch plant to increase the clarity of polypropylene (PP) in Blacksburg, South Carolina, USA. The plant will increase the company's masterbatch capacity by 50% to increase the clarity of Millad NX 8000 polypropylene (PP).

Milliken & Company is a diversified company that has been in business since 1865. The corporate headquarters is located in Spartanburg, South Carolina. The company operates in a wide variety of areas: the chemical industry, flooring, performance and protective textiles, and healthcare.

mrc.ru