Sasa Polyester production unaffected by earthquake

Sasa Polyester, which operates in the earthquake zone, announced on the first day of the earthquake that its facilities did not suffer any damage, said Dunya.

Ibrahim Erdemoglu, Chairman of the Board of Sasa Polyester, said in a statement to DUNYA that production activities continue at full capacity. Erdemoglu said, “We have been continuing our production activities uninterruptedly since the first day of the earthquake. We must continue production to support the region. We produce the fiber of the coats produced in Turkey, we also produce the raw material of the cologne handkerchiefs and diapers. For this reason, it is a necessity for the earthquake zone to continue production. Our last capacity works are continuing," he said.

Erdemoglu also said, “The opening of the stock exchange will not affect us. We don't look at the price of the stock, it doesn't matter to us whether it goes down or not," he said. Sasa Polyester has been helping the region since the first day of the earthquake.

The company provided AFAD with 130 thousand blankets, 100 thousand square meters of carpet and 100 million TL in cash. The company provided 10 thousand TL support to its 10 thousand employees.

We remind, Sasa Polyester has announced a licensing deal with Honeywell UOP for a 1m tonne/year propylene production plant based on propane dehydrogenation (PDH) technology. The agreement also covered technical service and warranty aspects of the USD1.5bn project to be constructed in the Yumurtalik investment area in Turkey’s southern province of Adana, Sasa added, when filing details of the deal with the Istanbul Stock Exchange.
Sasa said that it expected the contribution of the planned investment to its turnover would be USD1.2bn.

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Borealis will implement Honeywell’s UniSim Live software as early adopters to build process models for optimizing operations through virtual process simulation, said Hydrocarbonprocessing.

UniSim Live will allow Borealis to extend the utility of process models to near real-time process monitoring and focus on early event detection by using digital twins to improve plant reliability. Based in Austria, Borealis is a leading international provider of polyolefins, base chemicals, and fertilizers, and also one of the world’s largest producers of polyethylene (PE) and polypropylene (PP). The organization continues to invest in new technology and digitalization tools to improve processing capabilities and efficiencies as part of its Borstar™ program to optimize and transform key operations.

“Digitalization is a mega trend and our society is transforming at great speed. At Borealis, we’re constantly striving to stay ahead of the curve. We’re collaborating with recognized market players to develop new digital technologies to optimize our operations, ensuring our customers can continuously rely on us to provide the best possible service,” said Philippe Roodhooft, Executive Vice President, Joint Ventures and Growth Projects at Borealis.

Process models are digital representations of a plant and its processes. They are commonly used for designing process equipment or for training operations staff. UniSim Live’s advanced process modeling detection capabilities are helping Borealis detect and mitigate issues that can impact plant performance. The collaboration with Borealis builds on Honeywell’s 20-year efforts associated with the Abnormal Situation Management consortium, whose charter is to improve plant safety and reliability.

“Honeywell is proud to work with Borealis to drive digital innovation in their operations, particularly as they use UniSim Live as a key enabler of their process digitalization,” said Kevin Dehoff, president and CEO of Honeywell Connected Enterprise. “We are excited about these new opportunities for UniSim Live as a truly transformative solution."

UniSim Live will bring its innovative process modeling to customers during launch in the first half of 2023.

We remind, Borealis acquires a majority stake in Belgian recycling firm Renasci, the polyolefins producer announced.
Borealis announced the acquisition of a ; today it announces an increase of its investment to acquire a majority stake of 50.01%, signalling on-going confidence in the potential of Renasci’s patented SCP concept to drive the circular transformation.

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Arlanxeo (Maastricht, the Netherlands) announced the opening of a new polybutadiene (BR) production line in Brazil, said Chemengonline.

The new production line supplements Arlanxeo’s existing production capacity in Brazil with an additional 65,000 metric tons per year (m.t./yr), and reinforces the company’s commitment to meeting customer demand for reliable, locally produced BR in Latin America.

Commenting on the successful start-up of the new production line, Donald Chen, CEO, Arlanxeo, said: “Arlanxeo continues to invest in high growth markets, and our new polybutadiene production line reflects our confidence in Brazil and the broader Latin American market. We are delighted that the production line was constructed and commissioned safely, and we look forward to supplying our customers in Latin America with reliable, locally produced BR."

The new production line is located in the south of Brazil in the Triunfo petrochemical complex in Rio Grande do Sul. Arlanxeo ‘s commitment to Brazil includes recent investments in a new nitrile rubber production line in Duque de Caxias, Rio de Janeiro, and a new warehouse operation for polychloroprene in Sao Paulo, together with the existing world scale production facilities in Caxias, Triunfo, Cabo and a business center in Sao Paulo.

We remind, Arlanxeo is to increase the annual production capacity of its EPDM plant in Changzhou by 15%, according to ERJ with reference to the Dutch-based synthetic rubber company's statement. In its statement, Arlanxeo added that an acceleration of new infrastructure and automotive industry projects in China were driving increased demand for its elastomers.

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MOSCOW (MRC) -- Idemitsu Kosan Co, Japan's second-biggest oil refiner, revised its full fiscal year net profit forecast down by 32% to 220 billion yen (USD1.7 billion) on Tuesday, expecting lower oil prices and a stronger yen to hit earnings, said Hydrocarbonprocessing.

The revision follows a similar step by Japan's top refiner Eneos Holdings Inc, which last week slashed its full-year net profit forecast down by 58% to 140 billion yen, as weaker oil prices and the firmer yen are set to hit inventory valuation.

Idemitsu said its inventory valuation was expected to decrease on an assumption of Dubai oil prices at USD80 per barrel and the yen at 130 to the U.S. dollar, a change from USD90 per barrel and 145 yen to the dollar previously.

"We have revised our forecasts to reflect the recent decline in crude oil prices and the currency correction," the company's executive officer, Yoshitaka Onuma, told a news conference. "The outlook of the business environment is uncertain due to mixed factors such as concerns of an economic slowdown caused by global inflation and expectations of recovery in demand thanks to relaxation of China's zero-COVID-19 policy," he said.

Net profit in April-December increased 25% to 250 billion yen, supported by higher coal prices and gains from asset disposal. Improved operating earnings from its Nghi Son Refinery and Petrochemical in Vietnam due to stronger export margins also lent support, Onuma said.

The company also said it would spend 60 billion yen to buy back 9.7% of its shares, and will cancel them by March-end 2024 "to increase mid- to long-term shareholder value". In January, Vietnam asked Japan for support to "restructure stakes" at Nghi Son, Vietnam's largest oil refinery, but an Idemitsu spokesperson said there was no consideration of a change in the equity structure of the refinery, in which it owns 35.1% stake.

We remind, Toray Industries, Inc., and Idemitsu Kosan Co., Ltd. have agreed to build a supply chain for plastics made from biomass naphtha. They would manufacture biomass styrene monomer derived from biomass naphtha and acrylonitrile butadiene styrene (ABS) resin made from that monomer.

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Solvay receives compensation of EUR91.632 million after decisions by the International Chamber of Commerce's arbitration tribunal, the Swiss Supreme Court, and the Milan Court of Appeal, all of which ruled in favor of Solvay, said the company.

The outcome follows more than 10 years of legal proceedings in relation to Solvay’s claims of environmental breaches by Edison, a subsidiary of EDF, in the context of Solvay's acquisition of the Italian company Ausimont in 2002.

The compensation relates to costs, losses and damages suffered by Solvay up to the end of 2016. Additional arbitration procedures are currently ongoing regarding costs, losses and damages suffered by Solvay from January 2017 onwards. Solvay is confident in the merits of its claim for additional significant compensation for damage in this second phase and expects proceedings to conclude in 2024.

We remind, Solvay in advanced negotiations to divest its stake in Rusvinyl. The company confirms it is in advanced negotiations to divest its stake in Rusvinyl, an independent 50/50 joint venture in Russia, to its joint venture partner, Sibur. In addition to the recently obtained preliminary clearance from Russian governmental authorities, the potential transaction is still subject to several other regulatory approvals. Solvay will keep the market informed if and when appropriate, in accordance with applicable law.

Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 21,000 employees in 63 countries, Solvay bonds people, ideas and elements to reinvent progress.

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