Lotte Chemical Titan restarts PP plant in Malaysia

MOSCOW (MRC) -- Lotte Chemical Titan has restarted a polypropylene (PP) plant, reported Apic-online.

A Polymerupdate source in Malaysia informed that the plant restarted on February 6, 2014. The plant was shut on February 5, 2014 for a brief outage.

Located at Pasir Gudang, Malaysia, the plant has a production capacity of 200,000 mt/year.

Lotte Chemical is also likely to take off-stream a cracker for maintenance turnaround in April 2014. It is likely to remain off-stream for around four days. Located in Yeosu, South Korea, the cracker has an ethylene capacity of 1 million mt/year and propylene capacity of 480,000 mt/year.

As MRC informed previously, Hyundai Oilbank and Lotte Chemical Corp. have recently established Hyundai Chemical as a new venture in the "oil refining and synthetic fiber materials business". The venture, owned 60 % by Hyundai and 40 % by Lotte, will invest up to 1.2-trillion won, with production targeted to begin in the second half of 2016 at Hyundai’s Daesan plant in South Chungcheong province.

In early 2013, a major South Korean pertochemical and polymer producer, Honam Petrochemical, and one of the largest South Korean PET and PTA producer, KP Chemical, decided to merge into a new company with a new name Lotte Chemical Corporation. The newly formed company believes that this move will strengthen its position both in domestic and international markets and is in a line with Lotte Chemical's strategy to become a leading global company.

The Lotte Group currently has a presence in Indonesia via its subsidiary, Honam Petrochemicals, which acquired Malaysia’s polyolefin major Titan Chemicals in July 2010. Included in the acquisition was Titan’s Indonesian subsidiary - PT Titan Petrokimia Nusantara (TPN), which has a polyethylene (PE) production capacity of 450,000 tonnes/year.
MRC

MOSCOW (MRC) -- PolyOne Corporation has reported its revenue increased 32% in 2013 versus 2012 driven by solid second half top-line organic growth and the acquisitions of Spartech and Glasforms. Thus, the company's full year revenue was USD3.8 billion, according to the company's report.

Polyone's Q4 2013 revenue reached USD924 million, a 42% increase compared to USD651 million in the fourth quarter of 2012.

"I am extremely pleased with our fourth quarter performance, which brings to a close another record year for PolyOne," said Stephen D. Newlin, Chairman, President and Chief Executive Officer.

Commenting on the company's 2014 outlook, Mr. Newlin said, "We finished 2013 very strong, building on our momentum throughout the year, and we are in an excellent position for another record year in 2014 with strong double-digit adjusted earnings per share growth. We anticipate our specialty platform will lead the way with new product introductions, growth from emerging markets and further accretion from the legacy Spartech businesses. We reaffirm our expectation to deliver USD2.50 in adjusted earnings per share in 2015."

As MRC wrote previously, in December 2013, the Board of Directors of PolyOne Corporation declared a dividend of eight cents (USD0.08) per share on the common stock outstanding, representing a 33% increase to the quarterly cash dividend.

PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins. The company's full-year revenues in 2012 increased 4.5% to USD3.0 billion, compared to USD2.9 billion in 2011.
MRC

MOSCOW (MRC) - Imports of suspension polyvinyl chloride (SPVC) to Ukraine increased by 53% in 2013 on the back of stronger demand and shutdown of Karpatneftekhim (LUKOIL), according MRC DataScope.

Last year external supplies of SPVC to Ukraine increased more by one and a half compared with the level in 2012 and totalled about 144,400 tonnes. The outage of the local producer Karpatneftehim (LUKOIL) and the growth in demand for finished PVC products were the main reasons for such a significant increase of the external supply.

Key suppliers of PVC to Ukraine continued to be US producers. Imports of US resin to Ukraine in 2013 rose to 76,400 tonnes, compared with 34,500 in 2012. Lower price level of the North American PVC and limited export quotas of European material during the high season significantly contributed to the growth of US resin imports.

Imports of SPVC from Europe totalled about 65,600 tonnes in 2013, from 57,000 tonnes a year earlier. Key suppliers of European resin continued to be producers from Hungary and Poland, with 29,300 tonnes and 24,400 tonnes delivered in 2013, respectively.

The largest petrochemical complex in Ukraine - Karpatneftekhim (LUKOIL) has 300,000 tonnes/year ethylene production, 100,000 tonnes/year polyethylene (PE) production, 200,000 tonnes/year caustic soda production and 300,000 tonnes/year polyvinyl chloride (PVC) production, which was launched in May 2011. Karpatneftekhim's capacities can fully meet the needs of the domestic market of PVC.

However, because of economic instability, producer shut PVC production in September 2012. Karpatneftekhim resumed SPVC production after a long shutdown on 7 November 2013, but in the end of December 2013 it was shut again for indefinite period. Karpatneftekhim's SPVC production in 2013 totalled 12,200 tonnes.

MRC

MOSCOW (MRC) -- German compounder Polymer-Chemie is collaborating with Resysta International (Pfaffing-Forsting/Germany) to further develop processing opportunities for its "Active Resysta Filler" (ARF), reported Kunstoffweb.

To date Resysta, a fibre-reinforced hybrid material mostly made from rice husks, has been produced as a pre-fabricated product for floor boards, facades and marine decks.

Polymer-Chemie will concentrate on markets in Russia, including the former CIS states, Ukraine and Czech Republic.

Dirk Breitbach, managing director of Polymer-Chemie, said: "Resysta has unique properties which will open up completely new markets for us."

Resysta said ARF is totally recyclable, with 100% water-resistant and UV-resistant properties, and can achieve the look and feel of wood through further processing.

As MRC wrote previously, in December 2013, Polymer-Chemie expanded the PVC product range and capacity at its Russian subsidiary Polymer-Chemie Rus in Russia’s Tula region. The company installed a new extrusion line to produce rigid PVC granules at its plant in Tula. Polymer-Chemie’s latest project is part of an ongoing expansion programme for the site which already serves the CIS countries.

Polymer-Chemie is an independent, privately owned company serving as a link between polymer manufacturers and the plastics processing industry. Polymer-Chemie modifies and compounds polymers, develops customer-specific solutions and keeps adapting its product portfolio to the latest market requirements.
MRC