Covestro, Evonik and Accenture invited to a peer exchange

Covestro, Evonik and Accenture invited to a peer exchange

MOSCOW (MRC) -- Covestro and Evonik as well as the consulting firm Accenture invited managers from production and technology divisions of Bayer, Clariant, Wacker, Shell, Lanxess and other companies to a two-day Chemicals Peer Exchange for the fourth time, said the company.

"For me, the chemical industry is predestined for the use of AI because we have a lot of complex processes going on that cannot be described by fixed rules," says Walter Gruner, Head of IT & Digitalization at Covestro. "They are not suitable for automation. We rather need learning systems to which we grant a certain degree of decision-making autonomy. In doing so, we focus primarily on the development of systems that work in a complementary manner to humans and support their abilities."

With the introduction of AI in the chemical industry, questions about technical, operational and organizational implementation are also increasingly emerging. This includes, for example, the role of AI in decision-making, but also its implementation along value chains.

We remind, Covestro successfully started up a new world-scale facility for the production of chlorine in Tarragona, Spain. It is the first world-scale production plant for chlorine based upon the highly innovative and energy efficient ODC (oxygen depolarized cathode) technology invented by Covestro and its partners.

Evonik launches TEGO Cycle additives portfolio to transform plastic waste into valuable plastics

Evonik launches TEGO Cycle additives portfolio to transform plastic waste into valuable plastics

MOSCOW (MRC) -- Evonik has introduced a diverse range of additives under the brand name TEGO® Cycle to help its customers improve process and increase the final quality of recycled plastics, said the company.

Designed to save energy during the mechanical recycling process, the TEGO® Cycle portfolio of additives also enhances the quality of polymers, enabling the transition of the plastics value chain into a ‘value cycle.’

Combating plastic waste has become one of the key factors for securing the planet’s future. Since 1950, around ten billion tons of plastic have been produced worldwide, more than half of it since 2000 alone. Every year, around 400 million tons are added - about 40 percent of which is packaging material. Only a fraction of this is recycled, with the majority ending in landfills and incinerators after only one use - or the waste is discarded into the environment.

“Despite recent improvements in plastic waste streams and better recycling infrastructure across the globe, the high costs and technical challenge of yielding polymers of high enough quality, have meant only around 100 million tons of plastic has been recycled so far,” said Alper Aksit, Marketing Manager Compounds & Circular Plastics Region EMEA. “Transforming plastic waste into valuable reusable plastic requires collaboration across the entire plastics value chain. Working closely with our partners and listening to our customers’ needs we have created initiatives like Evonik’s Circular Plastics Program, which combined with our TEGO® Cycle additives help speed up the plastic industry's transformation into a fully circular economy."

Evonik’s diverse additives portfolio helps at each stage along the entire mechanical recycling value chain to convert plastic waste into reusable plastic goods. During the wet stage, Evonik’s antifoams & wetting agents can be used to make washing, separation, deinking & drying processes more efficient and help to significantly reduce energy. Additionally, during compounding (dry stage) Evonik’s odor absorbers, compatibilizers, dispersants & processing aids help to improve processing and enhance polymer properties, leading to more competitive costs and a much higher quality of recycled plastic content.

We remind, Evonik Industries AG (Essen, Germany) has begun construction of a new production plant for alkoxides in Singapore. The mid double-digit million-euro investment will enhance supply security for customers in the region and further strengthen the company’s global alkoxides business.

Dow wins trio of 2023 SEAL Business Sustainability Awards

Dow wins trio of 2023 SEAL Business Sustainability Awards

MOSCOW (MRC) -- Dow has earned three 2023 SEAL Business Sustainability Awards (BSA), said the company.

The environmental advocacy organization recognizes specific initiatives, products, services, and innovations ranging from large companies to emerging start-ups for their industry leadership, innovation, and commitment to sustainable business practices.

Three Dow technologies were recognized across two SEAL categories: one Sustainable Product Award, and two Sustainable Innovation Awards. The product-focused category recognized submissions that were deemed innovative, impactful and “purpose-built” for a sustainable future, whereas the innovation-based category selected recipients for representing game-changing ideas that draw us closer to a more sustainable future.

“Each of these simultaneously high-performing and sustainable products and innovations are making significant advancements in their respective markets and helping Dow realize its ambition to be the world’s most innovative, customer-centric, inclusive, and sustainable materials science company,” said A.N. Sreeram, senior vice president, Research & Development, and chief technology officer. “We will continue to innovate alongside our customers and value chain leaders to deliver a sustainable future through our materials science expertise and collaboration."

We remind, Dow reported a net loss of USD73m for the first quarter (Q1) on a slump in volumes and sales prices in key segments and important geographies. Net sales for the largest US chemical company were down 22% at USD11,851m reflecting, Dow said, declines in all its operating segments driven by lower macroeconomic activity.

Mitsui Chemicals and Sanyo Chemical establish a LLP for PPG Production

Mitsui Chemicals and Sanyo Chemical establish a LLP for PPG Production

MOSCOW (MRC) -- Mitsui Chemicals, Inc. and Sanyo Chemical Industries, Ltd. are pleased to announce that the establishment of a 50-50 Limited Liability Partnership (LLP) on May 15, 2023 for the aim of solving common issues in the production of polypropylene glycols (PPGs), such as improving productivity and securing future supply stability in Japan, said the company.

PPGs are chemical materials obtained through polymerization of alkylene oxides such as propylene oxide (PO) and ethylene oxide (EO) to polyhydric alcohols. PPGs are one of the main raw materials for polyurethanes. Polyurethanes are used in a wide range of applications, including automotive parts, furniture and bedding, heat-insulating construction materials, paints, and adhesives.

The global market for polyurethanes continues to expand. In Japan, demand for high-performance, high-value-added polyurethanes is expected to grow in response to changes in the market, such as the spread of next-generation automobiles, smart homes, and environmental responsiveness, while demand for general-purpose products is on a downward trend. In addition, the competitive environment with overseas manufacturers in both domestic and overseas markets is becoming increasingly severe.

Under these circumstances, two companies have agreed that it is necessary to cooperate with a partner who share the same recognition in order to maintain a sustainable and efficient production system and strengthen competitiveness in the PPG business strategy. Through the establishment of this LLP, two companies will work to achieve both continuous stable supply and securing of profit in the PPG business.

We remind, INEOS has completed the purchase of Mitsui Phenols Singapore in a USD330m deal, giving the UK-based firm over 1m tonnes/year of additional Asia production capacity. Based on Jurong Island, Singapore, the entire asset base of the Mitsui subsidiary will be transferred to INEOS. The business has a production capacity of 410,000 tonnes/year of cumene, 310,000 tonne/year of phenol and 185,000 tonnes/year of acetone.

LyondellBasell announces 5% increase to quarterly dividend

LyondellBasell announces 5% increase to quarterly dividend

MOSCOW (MRC) -- LyondellBasell announced its Board of Directors has declared a quarterly dividend of USD1.25 per share, representing a 5 percent increase over the company's first quarter 2023 dividend, said the company.

The dividend will be paid June 6, 2023 to shareholders of record May 30, 2023, with an ex-dividend date of May 26, 2023.

"2023 marks our 13th consecutive year of annual dividend growth. Our increasing dividend demonstrates our ongoing commitment to deliver strong returns for LyondellBasell shareholders. It is also aligned with our long-term target of returning 70 percent of free cash flow to shareholders that we shared at our Capital Markets Day," said Peter Vanacker, CEO of LyondellBasell. "We will continue our balanced approach to capital deployment as we establish our leadership in creating solutions for everyday sustainable living."

We remind, LyondellBasell (LYB) said it is moving ahead with engineering for a commercial scale advanced plastics waste recycling plant it intends to build at its Wesseling, Germany, production site together with Germany’s 23 Oaks Investments. The companies agreed to form a joint venture, called One Source Resources, that would operate the facility with capacity to convert the plastics waste generated by an estimated 1.3 million people into feedstock to make 50,000 t/y of new plastic materials.