Polynt Group to build resin plant in Canada

Polynt Group said it will open Polynt Coatings Canada Limited in Port Moody, British Columbia, during the second half of the year, said the company.

The new facility will meet the growing needs of the paint and coatings industry, it said, by increasing its capacity and flexibility in the resin marketplace. It will begin with production of conventional alkyds, oil-modified urethanes and water-based technologies to start, Polynt Group said.

We remind, Polynt Group started the process for the installation of a new esterification plant to produce special plasticizers, in particular trimellitates, at its site in Atlacomulco, Mexico. Special high-performance plasticizers, with their superior technical performances in electrical and high temperature applications, are a main component for the electrification of cars and transportation, a general trend so important for improving environmental sustainability. Trimellitates represents the most effective family of products that can satisfy those outstanding performance characteristics.

Polynt Group has more than 3,100 employees in 35 manufacturing operations throughout North and South America, Europe and Asia.

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MRC) -- Eastman Chemical Company announced its first-quarter 2023 financial results, said the company.

Chemical Intermediates sales revenue decreased 18% primarily due to 12% lower sales volume/mix and 5% lower selling prices.

Sales volume/mix was lower in plasticizers and olefins due to continued weak end-market demand, including for building and construction, consumer durables, and industrial.

Selling prices were lower due to lower raw material prices. EBIT decreased due to lower sales volume/mix and lower spreads, which were above mid-cycle levels in the year-ago period.

As per MRC, US-based Eastman aims to light a fire under the ecosystem for collecting hard-to-recycle polyester waste with USD2bn in new investments for plastics recycling projects in the US and France.

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LyondellBasell and Veolia Belgium have signed an agreement to restructure the ownership of Quality Circular Polymers (QCP) BV recycling facilities, with locations in Belgium and the Netherlands, said the company.

Veolia will sell its 50% share to LyondellBasell which will become 100% owner of QCP. With full ownership of QCP, LyondellBasell is progressing its strategy to build a profitable circular and low carbon solutions business, to meet customer demand for more sustainable products and solutions. LyondellBasell is well-positioned to continue working with its customers to supply the products and solutions needed, to meet their own goals.

"The demand for circular solutions continues to grow, and LyondellBasell is committed to creating solutions for everyday sustainable living," said Yvonne van der Laan, executive vice president, Circular & Low Carbon Solutions of LyondellBasell. "Full ownership of QCP supports our goal to produce and market at least 2 million metric tons of recycled and renewable-based polymers. We thank Veolia for their collaboration over the past five years and look forward to continuing to work with them as a feedstock supplier."

The QCP mechanical recycling facilities produce special blends, using household plastic waste. QCP's recycled materials are used to make items such as bottles, buckets, caps and closures as well as strollers and suitcases. LyondellBasell will continue to offer QCP polymers under its CirculenRecover brand, with QCP as its growth platform to enable circular solutions.

"Veolia's strategy is to grow its presence across the entire value chain in Europe and worldwide. The divestment of our participation in the QCP is in line with this strategy as it will allow us to internalize additional volumes in our plastics recycling plants in Europe. We will continue cooperation with LyondellBasell, notably by remaining a QCP feedstock supplier for several years," said Eric Troudoux, senior vice president Solid Waste Recycling & Recovery.

We remind, LyondellBasell announced it has made a decision to move forward with engineering to build an advanced recycling plant at its Wesseling, Germany. Using LyondellBasell's proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production. The final investment decision is targeted for the end of 2023.

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As April winds down and major German chemical companies hold their annual shareholder meetings, questions are being asked whether about the country is tying its trade too closely to with China and repeating the same mistakes it made earlier by becoming dependent on Russian gas, said Chemanager.

The Bloomberg news agency reported on Apr. 27 that Chancellor Olaf Scholz and Economics Minister Robert Habeck were weighing plans to limit the export of chemicals for semiconductors from Germany — a major move that would have an enormous impact on chemical producers such as Merck and BASF.

Bloomberg’s sources said the proposal is part of a package of measures that would cut off China’s access to goods and services needed for the production of advanced semiconductors.

Fears are growing about what would happen to German companies supplying the lucrative Asian market if China invaded Taiwan, is the beating heart of the world’ semiconductor industry.

On the news, BASF shares — which already have lost 25% of their value this year, to the dismay of shareholders — lost a further 4% in early trading, but Merck initially emerged unscathed. Neither Germany’s political leaders nor the companies named confirmed the reports.

If Germany does move forward with the plans, it would join the US as well as other European countries such as the Netherlands, in pushing for a global blockade of China’s access to key technologies.

Strangling the country’s already limited supply line could thwart China’s ability to advance its own industry, commentators said, while noting that China is Germany’s is largest trading partner, and the European country’s trade deficit is increasing.

Germany has no advanced chip-making technologies, but the two chemical producers engaged in trade with China supply the global industry, with Merck claiming to be the only company ”deeply experienced” in every step of the semiconductor value chain,” and BASF a leading exporter of chemicals and solutions for semiconductor processes.

At the chemical giant’s 2023 annual general meeting in Mannheim, BASF’s shareholders gave CEO Martin Brudermuller a run for his money, peppering him with questions about what would happen if China turned inward and closed others out after years of luring western partners to its shores. Not unexpectedly, the answer was, the chances outweigh the risks.

In a telephone conference, BASF oil and gas subsidiary Wintershall’s CEO Mario Mehren had to explain why the risks sometimes have their way and his company is still in Russia — which accounts for 50% of its business — despite announcing plans to withdraw this past January.

The withdrawal is complicated, Mehren said, remarking that the Russian government had “virtually expropriated” its offshoot Wintershall Dea, a joint venture with Russian oligarchs.

We remind, BASF announced that it has received the International Sustainability and Carbon Certification (ISCC) PLUS for certain grades of plastic additives produced at its manufacturing sites in Kaisten, Switzerland and McIntosh, Alabama, United States.

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LyondellBasell Industries, a specialty chemicals company listed on the New York Stock Exchange, released its earnings results for the first quarter of the fiscal year 2023.

The firm reported an earnings per share (EPS) result of USD2.50 for Q1 2023, outpacing Wall Street’s consensus estimate of USD1.80 by USD0.70 per share, according to RTT News reports. Despite missing analysts’ expectations in revenue, with a recorded figure of USD10.25 billion during Q1 2023 compared to an expected USD10.80 billion, LyondellBasell Industries delivered a net margin of 7.71% and a return on equity of 32.96%.

The figures show improved performance from the same period last year when the company earned USD4 EPS, suggesting that LyondellBasell’s strategies are bearing fruit in line with market growth trends.

Following up on the company’s earnings report, it was recently announced that its shareholders received a dividend of USD1.19 per share for Q1 2023 payout ratio is reported as being 40.34%.The ex-dividend date set at March 13th and shareholders record were issued before that date became eligible for this spot dividend payout.

With an average volume of trading activity at over two million shares daily, LYB was traded up by almost four dollars during Friday’s trading session and hit an intraday high price point of %95.30 per share as at May 1st 2023 which is positive news from their activities.

LYB has been observed as having bearish momentum over recent weeks by some equities analysts; however three investment firms upgraded its rating structure based on recently strong fundamentals announced – this marks significant progress in gaining investor confidence and overseeing any long-term risks associated with volatile markets forecasts.

We remind, LyondellBasell announced it has made a decision to move forward with engineering to build an advanced recycling plant at its Wesseling, Germany. Using LyondellBasell's proprietary MoReTec technology, this commercial scale advanced recycling plant would convert pre-treated plastic waste into feedstock for new plastic production. The final investment decision is targeted for the end of 2023.

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