Polynt announces coatings resin plant opening

MOSCOW (MRC) -- The Polynt Group expands its resin production capacity with the opening of a new site in Port Moody, BC, Canada during the second half of 2023, said European-coatings.

Last year, the Polynt Group announced its decision to expand resin production capacity to serve the North American Coatings Market and to meet the growing needs of the paint and coatings industry. This expansion is fully effective and will now be further enhanced with the opening of Polynt Coatings Canada Limited in Port Moody, BC during the second half of 2023.

This additional investment is intended to allow Polynt to add further capacity and flexibility in conventional alkyds, oil modified urethanes, and water-based technologies to start.

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.

mrchub.com

MOSCOW (MRC) -- Chilean state oil company National Petroleum Company (ENAP) said on Monday it has signed a temporary agreement with Argentine oil firm YPF to import crude through the Trasandino pipeline, a key step for both countries' trade, said Hydrocarbonprocessing.

The Trasadino pipeline, known as OTA-OTC or OTASA, connects the huge Vaca Muerta shale formation in the western Patagonian province of Neuquen with Chile, and is co-owned by ENAP, YPF, and Chevron Corp.

Vaca Muerta, the world's second largest shale gas reserve and fourth largest for shale oil, is seen as key to Argentina's push to lessen reliance on pricey energy imports.

The contract, which is valid for 45 days, would enable the Chilean firm to buy 41,000 barrels of oil per day between May and June.

ENAP said in a statement that, although the deal is a "regular purchase operation," it is an initial step for the renewal of "energy-oil interconnection between the two countries in the long term."

We remind, Argentina's state oil company YPF and its Malaysian counterpart, Petronas, inked a deal on Thursday to build a major liquefied natural gas (LNG) plant and a pipeline to transport the fuel, as demand for the fossil fuel spikes globally. An agreement could be announced as soon as the end of the week, likely ahead of the Gastech conference in Milan that begins on 5 September.

mrchub.com

MOSCOW (MRC) -- Vietnam's Binh Son Refining and Petrochemical will take USD754 MM worth of loans for a project to expand its sole oil refinery and boost its annual crude oil processing capacity by more than 1 million tons, Hydrocarbonprocessing.

The loans will account for 60% of the funding needed to raise Dung Quat refinery's capacity to 7.6 million from 6.5 million tons, the company said in a statement at the weekend.

Binh Son said in April 2022 it would roll out the expansion that same year. In its latest statement, it said the government had approved the plan and the expansion would take 37 months, with completion by the first quarter of 2028.

It last month said it would delay maintenance at the refinery until 2024 and profits were expected to drop 88% this year due to rising costs, including higher taxes.

We remind, Vietnam's Binh Son Refining and Petrochemical will delay the maintenance at its refinery until next year, and said it expects profits to drop 88% this year due to rising costs, including higher taxes. Binh Son said the maintenance delay would allow the company to "maximize its production, revenue and profit" this year. The 130,000-barrel-per-day refinery was originally scheduled to undergo major maintenance from June 22 to August 11 in 2023. The maintenance will now take place early next year, the company said in a statement.

mrchub.com

MOSCOW (MRC) -- Sika has completed the acquisition of MBCC Group after having received all necessary regulatory approvals, said the company.

MBCC Group, headquartered in Mannheim, Germany, and formerly owned by an affiliate of Lone Star Funds, is active in the field of construction systems and admixture systems. To close the transaction and to comply with regulatory requirements, Sika sold MBCC Group’s chemical admixtures assets in the UK, the USA, Canada, Europe, Australia, and New Zealand to the international private equity firm Cinven. The business now acquired by Sika employs 6,200 people and operates in over 60 countries and 95 production facilities.

Thomas Hasler, CEO: "Today is a historic day for Sika. We are delighted to welcome the MBCC employees to the Sika family. We embark on our exciting journey and will continue to drive Sika’s growth story. Thanks to our extensive experience in integrating companies, we will successfully bring Sika and MBCC together and combine our strengths to create the new reference in the construction chemicals industry."

We remind, the European Commission has approved the proposed acquisition of Germany-based construction chemicals producer MBCC by Switzerland’s Sika. The approval, under the EU Merger Regulation, is conditional on the divestiture of MBCC's global chemical admixture business.

mrchub.com

MOSCOW (MRC) -- PPG announced that Christine Camsuzou, currently interim chief procurement officer (CPO), has been appointed vice president, procurement and CPO, effective immediately, said the company.

Reporting to Ram Vadlamannati, senior vice president, operations, Camsuzou will be responsible for leading PPG’s global procurement team, processes and strategy.

“Christine is a proven leader who has held many key regional and global assignments and has managed relationships with many of PPG’s key customers,” Vadlamannati said. “With her proven experience across PPG’s global portfolio and the overall coatings industry, she is well equipped to lead the global procurement organization and drive business success for the company.”

Camsuzou began her career with PPG in 1986 and has moved through positions of increasing responsibility across various functions. She has had global leadership responsibility within the procurement function for a decade and was instrumental in implementing global sourcing strategies, leading initiatives to lower supply risks, and delivering on PPG’s savings targets.

Camsuzou earned a Master of Business Administration from ESCAE in Pau, France. At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for 140 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of USD17.7 billion in 2022. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets.

The PPG Logo and We protect and beautify the world are registered trademarks of PPG Industries Ohio, Inc.

We remind, PPG will invest USD11 million to double the production capacity of its powder coatings plant in San Juan del Rio, Mexico. The expansion project is expected to be completed by mid-2023 and will allow the plant to meet the expected future demand for powder coatings in Mexico.

PPG is a leading supplier of powder coatings to the automotive, transportation, appliance, furniture and other markets. The company expanded the business with its 2020 acquisition of Alpha Coating Technologies, which manufactures powder coatings for light industrial applications and heat-sensitive substrates, and its 2021 acquisition of Worwag, which makes liquid, powder and film coatings for industrial and automotive applications. PPG recently agreed to acquire the powder coatings business of Arsonsisi, including a manufacturing plant in Verbania, Italy.


mrchub.com