LG Chem restarted its caustic soda plant in South Korea

MOSCOW (MRC) -- South Korean petrochemical company LG Chem has restarted a caustic soda plant following maintenance turnaround, reported Apic-online.

A Polymerupdate source in South Korea informed that the plant restarted on November 22, 2013. It was under maintenance for over two weeks.

Located in Yeosu, South Korea, the plant has a production capacity of 500,000 mt/year.

As MRC informed previously, LG Chem is planning to build an ethylene production plant in Atyrau, Kazakhstan. The project is going to be constacted in collaboration with two other Kazakh firms. The production is expected to begin in late 2016. LG projects that the plant will manufacture up to 800,000 tonnes of ethylene a year by injecting a USD4.2 billion investment into the complex.

LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. According to ICIS report, it is 15th biggest chemical company in the world in 2011. It has eight domestic factories and global network of 29 business locations in 15 countries. LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.
MRC

Amec sets sights on Foster Wheeler takeover

MOSCOW (MRC) -- UK engineer Amec is eyeing a takeover of US-listed engineering company Foster Wheeler in a potential deal that could create a GBP5 billion (USD8 billion) energy services group, according to Upstreamonline.

Citing sources, The Times reported on Wednesday that Amec has appointed Goldman Sachs to advise it on a potential deal. An Amec spokesman declined to comment. Foster Wheeler could not immediately be reached outside regular business hours.

Switzerland-based Foster Wheeler, valued at USD2.83 billion, operates through its engineering and construction business and its power business.

The Times cited sources as saying that Amec and Foster Wheeler may have held talks in the past but were not engaged in discussions currently.

Amec, a FTSE 100 company that provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, said in August it was looking to make acquisitions in the oil and gas sector.

Foster Wheeler AG is a global conglomerate with its principal executive offices in Geneva, Switzerland and its registered office in Baar, Canton of Zug, Switzerland. It is focused on the Engineering, Procurement, and Construction (EPC) industry and the Electrical Power equipment industry.

As MRC wrote before, Foster Wheeler has been selected by Rosneft and ExxonMobil to undertake the initial phase of the front-end engineering design (FEED) for a proposed Russian Far East liquefied natural gas (LNG) project. Foster Wheeler is one of two companies to be awarded separate contracts for the initial FEED work prior to selection of a single contractor for the second FEED phase.
MRC

PTA plant to be kept off-stream by Oriental Petrochemical

MOSCOW (MRC) -- Oriental Petrochemical is in plans to keep its purified terephthalic acid (PTA) plant off-stream, said Apic-online.

A source in Taiwan informed that the plant will remain off-stream till end-December 2013. It was shut on November 6, 2013 owing to poor demand fundamentals. Located in Taoyuan, Taiwan, the plant has a production capacity of 400,000 mt/year.

Oriental Petrochemical is a subsidiary of Far Eastern Group, which has polyester, polyethylene terephthalate (PET) and textile businesses.
MRC

Melitek breaks ground for new plant

MOSCOW (MRC) -- Melitek, the Danish medical compound specialist, has announced an expansion of its plant including a new production line, according to GV.

The company broke ground on the plant in Nr. Alslev in September 2013 and expects to be in full operation by September 2014 with an additional nominal production capacity of up to 8,000 tons. The new production facility will provide Melitek with about 1,200 square meters of additional space including a new production line.

The Danish company said that it has experienced a steady growth in demand for its Meliflex compounds customised for pharmaceutical packaging and medical devices.

"We have chosen to make a significant investment for the future of our company in order to service coming needs of our customers and to allow for growth into emerging markets", comments Kim Laursen, Managing Director. He continues, "We are privileged to supply leading healthcare companies and their key converters, hence our investment will guarantee higher flexibility and supply security for our customers which both are eminent for medical companies".

As MRC reported earlier, the value of the global medical polymer market is set to rise by more than half in the next five years, boosted by an ageing population and developing markets. The market is estimated to grow from USUSD2.3 bln to over USUSD3.5 bln, a rise of more than 52%, between now and 2018.

Melitek is a private owned Danish company specialised in medical compounds based on 30 years of experience servicing the healthcare market. Under the brand name Meliflex the company offers a broad range of materials (PE, PP, TPE, TPO and COC based compounds) that are produced according to GMP and ISO with an extensive medical service package. The compounds are PVC-free and do not contain any phthalate plasticizers.
MRC

AkzoNobel to optimize coil coatings activities in Europe and Russia

MOSCOW (MRC) -- AkzoNobel announced plans to optimize the manufacturing footprint of its Coil Coatings sites in Europe and Russia by concentrating production at three strategic sites, said AkzoNobel.

The company intends to improve operational performance by focusing all European manufacturing for the Coil Coatings business on plants in Malmo (Sweden), Lipetsk (Russia) and Hilden (Germany). As a result of these plans, production at sites in Gamleby (Sweden) and Nurnberg (Germany) would end by June 2015.

"By focusing production on strategic sites that are close to our customers and manufacture products for more than one business, we will create a more efficient footprint and establish a more sustainable platform for future growth," said Conrad Keijzer, AkzoNobel’s Executive Committee member responsible for Performance Coatings.

The transfer is scheduled to start in early 2014. Current manufacturing at Gamleby will move to Malmo and Lipetsk, while production at Nurnberg will switch to Hilden. Around 280 employees will be affected, with the company planning to transfer and hire additional people in Hilden, Malmo and Lipetsk. A centralized European development centre will also be set up in Malmo.

"Operational excellence is a key priority and moving production to three strategic sites is a logical step which will ensure that we are better positioned to deliver leading performance and accelerate profitable growth," added AB Ghosh, Managing Director of AkzoNobel Industrial Coatings. "These improvements in our supply chain will also enable us to respond even faster to our customers."

AkzoNobel is a global leader in coil coating, which is a continuous and highly automated process for coating metal before fabrication. The products are mainly used for building components and infrastructure, as well as for consumer goods such as kitchen appliances.

Employees have been informed about the company’s plans and discussions with the relevant works councils are already underway.

As MRC wrote before, Akzo Nobel strengthened its footprint in India with the commissioning of a new plant in Gwalior to make decorative paints. The greenfield facility, Akzo’s sixth plant in India, has been built at an investment of Rs 140 crore. It has an annual capacity of 55 million litres.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.
MRC