Arkema to divest its business to PMC Group

(Azom) -- Arkema, a France-based chemical manufacturer, has declared a project to divest its tin stabilizer business to PMC Group, a New Jersey-based performance plastics and chemicals manufacturer.
This planned divestment of organometallic products includes Fascat catalysts, Thermolite tin stabilizers and fine chemicals. Therefore, Arkema strives to refocus its activities on expanding core specialty businesses.

On the basis of tin chemistry, Thermolite heat stabilizers are specifically utilized in the manufacturing pf PVC, which is mainly used in the construction sector, whereas Fascat catalysts are utilized in automotive specialties as well as in other applications. This organometallic activity, which is a part of Arkema’s functional additives business division, has announced sales of about EUR180 M in three continents.

Additionally, 4 industrial locations and 234 people across the globe will be involved in this project. The Beijing plant in China, the Carrollton KY, plant, and some assets at the Mobile (Axis) AL plant in the US will be shifted.

While processing PVC into finished products, heat or tin stabilizers are specifically utilized to prevent heat-induced decomposition. These stabilizers are often used in stiff and plasticized PVC.
MRC

(Plastemart) -- Russia’s closed joint-stock company Tver oil refining complex is studying the issue of building petrochemical production facilities in Zhytomyr region.

The press service said that the approximate cost of the project is around USD20 bln.

The new petrochemical production facilities are to produce motor fuel, organic synthesis products and mineral fertilizers. Oil, natural gas and coal will be used as feedstock.
MRC

(Plastemart) -- China's Ningbo Mitsubishi Chemical will continue to run its 600,000 mt/year purified terephthalic acid plant in Ningbo, China, at full capacity for now despite negative margins.

The PTA margin averaged minus USD49.97/mt in June, worsening from minus USD26.63/mt in May. The plant was restarted early June following a turnaround that began mid-May. 100% run rates at the plant pointed to lower PTA import volumes into China.

China's May PTA imports rose 12.1% from a month earlier to 385,924 mt, according to Chinese Customs. But industry sources said China's PTA imports are expected to fall from June as PTA producers in Taiwan and South Korea -- key PTA exporters to China -- have reduced PTA plant operations due to negative margins amid high paraxylene feedstock costs.
MRC

(Plastemart) -- CB&I has been awarded a contract by PETRONAS for the license and engineering design work for five petrochemicals units. The project is part of the new refinery and petrochemicals integrated development (RAPID) project to be located in Johor, Malaysia.

"CB&I is excited to be working with PETRONAS on this important project by providing several key technologies from our petrochemicals portfolio," said Daniel McCarthy, president of CB&I’s Lummus Technology.

"The RAPID project will allow PETRONAS to expand its products portfolio, capitalizing on the demand for higher value products in the region." Lummus Technology said it will provide technology for a world-scale steam cracker complex comprising ethylene, butadiene, benzene, isobutylene and MTBE units.

Petronas, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company wholly owned by the Government of Malaysia. The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.
MRC

(Plastemart) -- PetroChina Co Ltd. Has announced plans to bring on stream a new 800,000 tpa ethylene unit at its Fushun refinery in October. With this capacity addition, total ethylene capacity at the refinery will be 1 mln tpa, as per Reuters.

Crude refining capacity was ramped up at the refinery to 11.5 mln tpa (230,000 bpd) at the end of last year from less than 10 mln tpa. However, the refinery's crude runs in H1-2012 totalled just 3.33 mln tons, since the existing 200,000 tpa ethylene production capacity did not match the expanded refining capacity. With the start up of the additional capacity in October, crude runs are expected to pick up.

PetroChina Company Limited is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. It is China's biggest oil producer and the most profitable company in Asia.
MRC