AkzoNobel launches a new range of powder coatings

AkzoNobel launches a new range of powder coatings

MOSCOW (MRC) -- Color expertise is at the heart of a new range of Interpon A1243 powder coatings to protect and enhance brake calipers, giving traditional and Electric Vehicle (EV) automotive manufacturers the style, they demand matched with superior levels of mechanical performance for life out on the road, said the company.

With automotive OEMs leaning towards larger wheels for certain models and a more ‘open’ design, brake calipers have become style accessories. Accent colors and finishes, especially bright yellows and reds but also electric blues and greens with metallic pigments and other special effects are particularly on trend, and especially popular for more sporting brand.

Colors within the Interpon A1243 powder coatings range are driven by and matched to the designs and style demanded by automotive OEMs. Bespoke colors can also be made to complement body colors and trim.

In terms of performance, the single coat Interpon A1243 combines superior mechanical properties with excellent protection against corrosion, chemicals (e.g., gasoline, brake fluid etc.), and brake dust, keeping the calipers easier to clean and looking better for longer. The powder coating also resists chips and general wear and tear, and specific protection against UV light that stems from the wheels’ size and design.

Gustavo Carvalho, Automotive Global Segment director said that the innovation behind the new range is significant. “OEMs demand high performance and protection against brake dust and harsh chemicals and oils that brake calipers are subjected to. That’s standard.”

“But what they also want is color and style, and that’s where our true innovation and experience counts, working in partnership with the OEMs and going the extra mile with coatings that combine exceptional appearance with the tough, durable finish for life on the road,” added Carvalho.

We remind, AkzoNobel is to further strengthen its China position after reaching an agreement with Sherwin-Williams to acquire its Chinese Decorative Paints business. Completion, which is subject to regulatory approvals, is expected in the second half of 2023. The business has an annual revenue of about EUR100 million and employs around 300 people. The transaction includes the Huarun brand, which has a long history and is well recognized in China.


Oil prices slide 2% as strong US economic data boosts dollar

Oil prices slide 2% as strong US economic data boosts dollar

MOSCOW (MRC) -- Oil prices slid about 2% on Thursday after solid U.S. economic data spurred the dollar to a two-month high on growing expectations the U.S. Federal Reserve could raise interest rates again in June, said Reuters.

Brent futures fell USD1.17, or 1.5%, to $75.79 a barrel by 1:23 p.m. EDT (1723 GMT), while U.S. West Texas Intermediate (WTI) crude fell USD1.06, or 1.5%, to USD71.77.

The U.S. dollar rose to its highest since March 17 against a basket of other currencies on reports showing lower-than-expected U.S. initial jobless claims and optimism about a possible U.S. debt ceiling deal to avert a potential default. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies.

Dallas Federal Reserve Bank President Lorie Logan said she is concerned that "much too high" inflation is not cooling fast enough yet to allow the Fed to pause its interest-rate hike campaign in June. High interest rates boost borrowing costs, which can reduce oil demand by slowing economic growth.

"Good news for the economy is now bad news for the crude demand outlook as economic resilience will force the Fed to kill the economy," said Edward Moya, senior market analyst at data and analytics firm OANDA. "Oil is becoming an easy trade, as it will track the dollar and not so much anything else," Moya said.

The strength of April U.S. economic data in addition to optimism about the debt ceiling negotiations have strengthened market expectations of a further hike, ANZ Research said in a note on Thursday.

President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal to raise the federal government's USD31.4-T debt ceiling and avoid an economically catastrophic default. A debt agreement needs to be reached before the government runs out of money to pay its bills, which could be as soon as June 1.

Traders are pricing in around a 20% chance the Fed will raise rates at its June meeting, whereas a month ago, traders were pricing in around a 20% chance of a cut.

Meanwhile, European Central Bank (ECB) Vice President Luis de Guindos said the ECB will have to keep raising interest rates further to bring inflation back to its mid-term goal of 2% though most of the tightening has already been done. Also weighing on oil prices, blue-chip stocks in China, the world's biggest oil importer, slipped after the country's industrial output and retail sales growth undershot forecasts, suggesting the economic recovery is losing momentum.

On the supply side, Saudi Arabia's crude oil exports rose about 1% to 7.52 million barrels per day (bpd) in March from the previous month, according to data from the Joint Organisations Data Initiative (JODI).

Kpler and Petro Logistics, which also monitor shipments, however, have said Saudi exports may have fallen in May as a voluntary production cut pledged by the kingdom and other Organization of the Petroleum Exporting Countries (OPEC) plus their allies, a group known as OPEC+, takes hold.

We remnd, India's oil imports from Russia rose to a fresh record high in April, further reducing the share of Middle Eastern and African grades to their lowest level in at least 22 years. Refiners in India, the world's third-biggest oil importer and consumer, are on a Russian oil-buying binge after some countries shunned purchases from Moscow over its invasion of Ukraine in February last year.


Penn Color opens new facility for colorant & additive masterbatches in Thailand

Penn Color opens new facility for colorant & additive masterbatches in Thailand

MOSCOW (MRC) -- Penn Color New Facility Colorant Additive Masterbatches ThailandPenn Color, Inc. takes a significant step in expanding its manufacturing capabilities with the opening of a world-class facility in the Pluak Daeng Subdistrict, Rayong Province, Thailand, said Coatings.specialchem.

This new factory allows Penn Color to supply high-quality colorant and additive masterbatches to markets throughout the Asia-Pacific region. “This state-of-the-art facility has been planned with remarkable levels of flexibility to meet the most demanding technical and quality requirements, for packaging, consumer goods, building products and transportation. We bring here decades of experience and our most advanced manufacturing techniques,” said Scott Stamback, VP Sales EMEA & Asia.

Specifically designed to allow for future expansion to meet the increasing demand in the APAC region and beyond, one of the most outstanding features of this facility is that it uses the most recent technology for energy efficiency of its primary equipment, including a major portion being powered by solar-generated electricity.

With the country’s strong customer base, availability of raw materials, industry expertise, and highly skilled workforce, Thailand is the ideal location to establish a manufacturing presence as the company further strengthens its footprint in Asia.

Penn Color’s new production plant in Thailand is a strategic complement to the company’s Technology Center in Singapore. These two facilities were designed to play to their respective strengths, to provide together unmatched speed to market and flexibility.

“Penn Color has earned the trust of major customers at a global scale,” said Kevin Putman Jr, president and CEO of Penn Color.

“The inauguration of Singapore facility and now Thailand demonstrates our commitment to meeting customer expectations for advanced color & functional additive masterbatch technologies in the Asia-Pacific region. We are committed to bringing state-of-the-art capabilities and an exceptional customer experience to drive our customers’ success in this highly competitive market,” added Putman Jr.

We remind, PPG announces the launch of PPG STEELGUARD 951 coating, an innovative epoxy intumescent fire protection coating designed to meet the demands of modern architectural steel, including up to three hours of cellulosic fire protection, said the company. In a fire situation, the coating expands from a thin, lightweight film into a thick, foam-like layer that insulates the steel and maintains its structural integrity, providing more time for people to escape and limiting damage to buildings and assets.


Perstorp outlines roadmap for achieving sustainability targets by 2030

Perstorp outlines roadmap for achieving sustainability targets by 2030

MOSCOW (MRC) -- Sustainable solutions provider, Perstorp turns its ambitious sustainability targets for 2030 into actionable roadmaps on the corporate level as well as for each of its production plants, outlining hands-on activities to lower greenhouse gas emissions, reduce waste, save fresh water and enable sustainable transformation throughout the value chain, said Coatings.specialchem.

Perstorp has presented ambitious sustainability targets for greenhouse gas emissions (Scope 1, 2 and 3), as well as for water and waste, to be reached by 2030.

The company has now supplemented those targets with roadmaps outlining the steps and actions needed to fulfil them and support customers in reducing their carbon footprint as well as lead Perstorp toward its long-term ambition of becoming Finite Material Neutral.

“As a frontrunner in the sustainable transformation of the chemical industry we now have concrete and actionable plans, as well as the needed processes in place, both of which will be continuously developed and executed, to reach our sustainability targets. This will create real progress and show that ambitious targets are possible to achieve,” said Anna Berggren, vice president Sustainability at Perstorp Group.

The largest greenhouse gas emissions are found in Scope 3, which includes raw materials and end-of-life treatment of Perstorp’s products. The Scope 3 roadmap includes the steps necessary to drive the transition of the product portfolio from fossil-based to more sustainable, lower carbon footprint alternatives.

This, in turn, will help enable Perstorp’s customers to achieve their own sustainable transition. One key project in this roadmap is Project Air, an initiative aiming to replace all the fossil methanol that Perstorp uses in Europe with methanol produced from residue streams such as carbon capture and utilization (CCU) and renewable sources like biogas. This alone is expected to reduce carbon dioxide emissions by 500,000 tons per year.

We remind, Petronas Chemicals Group Bhd (PetChem) is focusing on expanding its specialties portfolio after posting a strong performance in 2022 amid geopolitical conflicts, market volatilities and general industry challenges, said the company. The group said its landmark acquisition of Sweden-based Perstorp Group resulted in further diversification of the group’s product offerings, specifically for its specialty chemicals portfolio.


Sinopec agrees terms for potential Kazakhstan polyethylene investment

Sinopec agrees terms for potential Kazakhstan polyethylene investment

MOSCOW (MRC) -- China's Sinopec and Kazakh state-owned oil and gas company KazMunayGaz have agreed key terms for a potential investment in a polyethylene plant in Kazakhstan's western Atyrau region, as per Reuters.

A final decision on the proposed investment will be made in 2024, the statement said. The agreement was signed on the sidelines of the ongoing China-Central Asia Summit in Xian in China's Shaanxi province, where China's president Xi Jinping is meeting with the leaders of five ex-Soviet countries to discuss enhanced cooperation in a range of fields, including energy.

Xi met with Kazakh president Kassym-Jomart Tokayev on Wednesday, where the two discussed deepening trade and economic ties between the countries.

China's three main state-owned oil firms Sinopec, PetroChina and CNOOC have all previously made investments in Kazakhstan's oil and gas sector. PetroChina is a member of the consortium that is currently developing the Kashagan field in the Caspian Sea - Kazakhstan's second largest producing field - alongside Western oil majors and KazMunayGaz.

Investment between China and the five nations reached a record high of over USD70 B in 2022.

We remind, Silleno LLP, a joint venture between Russia's SIBUR Holding and Kazakhstan's national oil and gas company KazMunayGas, will soon start Front End Engineering Design for a polyethylene plant in Kazakhstan, Sergei Komyshan, SIBUR's executive director of marketing and sales.