ITT invests to enhance pump testing in Germany, India, and Saudi Arabia, aiding growth and large project ventures

ITT Inc. announced an approximately USD11 mln investment to expand testing capabilities at three of its industrial process sites to enhance capacity for large project awards in its flow business, reinforcing the company’s commitment to an exceptional customer experience, said Hydrocarbonprocessing.

The investments at IP facilities in Obernkirchen, Germany, Vadodara, India and Dammam, Saudi Arabia will increase ITT’s power capacity in pump, motor and control systems testing, enabling the company to locally test larger, more complicated pump packages. The investments are expected to be completed in the third quarter of 2024.

At ITT’s Goulds Pumps sites in Saudi Arabia and India, the investments will support future growth as part of ITT’s ‘in region, for region’ strategy. At ITT’s Bornemann pumps site in Obernkirchen, Germany, the company will have the unique ability to replicate field conditions through complete unit multiphase fluid testing once the investments are completed, including a special focus on pump packages deployed in carbon capture and decarbonization applications globally.

“These strategic investments will further enhance our capabilities and customer experience and continue to differentiate ITT from the competition,” said Luca Savi, ITT’s Chief Executive Officer and President. “Our added capabilities will be a critical part of our commitment to becoming the preferred global flow provider by offering a superior solution through innovation, world-class customer service and flawless execution.”

IP is a global leader in centrifugal and twin-screw pumps for the chemical, energy, mining and industrial markets with ~$1.1 billion in revenue in 2023. The segment has 17 manufacturing locations and ~3,300 employees globally.

We remind, Russian oil company Gazprom Neft has opened a plant to recycle plastic packaging into secondary granules in Gatchina, Leningrad Region with annual capacity of 8,600 tonnes. The new plant will handle the complete cycle of recycling plastic packaging made of polypropylene and polyethylene into feedstock for subsequent use, the company said.

mrchub.com

The Supervisory Board of Borealis and Thomas Gangl have come to a mutual agreement regarding a termination of Thomas Gangl’s mandate as CEO of Borealis AG, as well as the related employment contract effective June 30, 2024, said the company.

“Thomas Gangl is a seasoned executive with a wealth of experience at OMV, followed by his most recent role as Borealis CEO. I thank him for his valuable contributions to the OMV Group spanning over two decades and wish him all the best for his future endeavors,” said Daniela Vlad, Member of the Executive Board of OMV Aktiengesellschaft and Chairwoman of the Supervisory Board of Borealis AG.

Thomas Gangl started his career at OMV in 1998 as a process engineer before holding various management positions in OMV's refining business. In 2019, he became a member of the OMV Executive Board as Chief Downstream Operations Officer and oversaw the increase of OMV's shareholding in Borealis to 75 %. During his tenure, the investment decisions for the electrolysis for green hydrogen and the plant for the production of green biofuels at the Schwechat refinery were taken and OMV's chemical recycling process ReOil was established.

Thomas was appointed CEO of Borealis in April 2021. He has been instrumental in refining Borealis’ Strategy 2030 with sustainability at its core, and accelerating the company’s transformation towards a circular economy. Key milestones during his tenure included the sale of Borealis’ nitrogen business, the acquisition of Rialti Spa, a polypropylene (PP) compounder of recyclates in Italy, along with the signing of the acquisition of Integra Plastics AD, an advanced mechanical recycling player in Bulgaria. Furthermore, he steered the prolongation of Borealis’ joint venture agreements with Borouge, the successful IPO of Borouge at the ADX, and the final investment decision of the Borouge 4 plant in Ruwais, UAE, which upon completion, will be the world's largest single-site polyolefin complex.

We remind, Borealis announces that it has signed an agreement for the acquisition of Integra Plastics AD, a Bulgarian advanced mechanical recycling player. Closing of this transaction is subject to customary regulatory approvals.

mrchuhb.com

Celanese Corporation, a global specialty materials and chemical company, announced that the International Sustainability and Carbon Certification (ISCC) has certified its Low Carbon CCU (carbon capture and utilization) Methanol under the ISCC Carbon Footprint Certification (CFC) system, said the company.

The newly certified Low Carbon CCU Methanol demonstrates a greater than 70% reduction in carbon footprint relative to a global average benchmark for fossil-based methanol production, as included in EU legislation.

Celanese began operating one of the largest active CCU facilities in the world at its Clear Lake, Texas, site in January 2024. By leveraging CCU, Celanese now offers customers low-carbon options across its Acetyl Chain and Engineered Materials products under the ECO-CC name. CCU takes CO2 industrial emissions that would otherwise be emitted into the atmosphere and applies reduced-carbon-intensity hydrogen to chemically convert the captured CO2 into a methanol building block used for downstream production.

“We’re proud to be the first to receive ISCC CFC certification for CCU materials, which allows us to strengthen our ability to offer customers a wider range of lower-carbon footprint products,” said Kevin Norfleet, global sustainability director, Acetyls at Celanese. “This is another industry-leading step Celanese has taken to provide third-party validation of sustainable product benefits while helping our customers to meet the growing demand for more sustainable solutions.”

The ISCC CFC system establishes a structure and methodology to validate appropriate accounting for the CO2 capture benefits of the CCU process as well as tracking of sustainable feedstocks using the mass balance system.

Jan Henke, director ISCC and MEO Carbon Solutions, emphasized the importance of this collaborative effort: “We have observed an increasing interest, especially from the chemical industry, in certifying the carbon footprint of their products and making credible claims towards their customers. With our new carbon footprint certification, we provide the respective solution. For us, the integration of CCU and CCS into the new certification is only the start. Step-by-step, we will optimize the scheme together with our stakeholders and taking into account existing standards.”

We remind, Celanese plans to close an Engineered Materials compounding site at Mechelen, Belgium that was part of its USD11 billion acquisition of DuPont’s Mobility & Materials business in 2022, said the company. The closure would help optimize production costs across Celanese’s global network, it said in a financial filing.

mrchub.com

The Chemours Co. today named interim CEO Denise Dignam as the company’s permanent CEO and president, as well as a member of the board of directors, effective immediately, said the company.

Dignam has been interim CEO since late February, when former CEO Mark Newman was placed on leave due to an internal investigation. Prior to that, Dignam was president/titanium technologies and president/advanced performance materials at Chemours.

The internal investigation uncovered accounting irregularities related to cash flow targets used in public reporting and executive compensation, Chemours reported on Mar. 6. Former CFO Jonathan Lock and Vice President and Controller Camela Wisel were also placed on leave due to the investigation.

Chemours is currently searching for a permanent CFO, and interim CFO Matthew Abbot will continue in the role while the search progresses, the company said. Chemours has also named Diane Iuliano, formerly vice president/human resources, titanium technologies, as interim president/titanium technologies while the company searches for a permanent division president.

Dignam “will be focused on strengthening our portfolio with high-value and emerging growth opportunities,” she said in a statement.

We remind, Chemours Company, a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announces two upcoming changes to its Board of Directors. Director Sandra Phillips Rogers has announced her decision not to stand for reelection and will serve out the remainder of her current term. Pamela Fletcher will join the Chemours Board as a director, effective March 1, 2024.

mrchub.com

Borealis remains committed to value creation through innovation, said the company.

True to our purpose Re-inventing Essentials for Sustainable Living, we are committed to innovation in order to provide intelligent and sustainable solutions to society’s most pressing challenges, such as climate change, environmental pollution and rising energy costs. By developing cutting-edge technologies and product solutions, Borealis is spearheading the transition to a circular economy with zero CO2 emissions.

Patents are essential to protect innovative ideas when creating new processes, technologies, and applications. In 2023, Borealis filed 128 new priority patent applications, once again ranking as number one top filer in the . In total, Borealis’ extensive patent portfolio consists of approximately 8,900 granted patents and approximately 3,200 patent applications through to the end of 2023.

“Innovation is the cornerstone of our success. We are therefore proud to have been consistently recognized by the European Patent Index for years as one of the leading innovators in Austria and again been ranked number one for 2023,” says Thomas Gangl, Borealis CEO. “This recognition is a testament to our commitment to innovation and our ability to develop cutting-edge solutions that address the most pressing challenges of our time.

We remind, Borealis announces that it has signed an agreement for the acquisition of Integra Plastics AD, a Bulgarian advanced mechanical recycling player. Closing of this transaction is subject to customary regulatory approvals.

mrchub.com