Thai PTT Global subsidiary raises stake in French Vencorex to 85%

MOSCOW (MRC) -- Thailand's PTT Global Chemical's wholly-owned unit bought an additional 34% stake in French chemical maker Vencorex from Perstorp Holding AB , raising its stake to 85%, as per Plastemart.

The increase will enhance PTTGC's strategy in the downstream polyurethane business as Thailand's largest petrochemical firm aims to focus on value-added products to serve growing demand in Asia, the Thai company said in statement.

As MRC wrote before, PTT Global Chemical awarded an engineering, procurement and construction (EPC) contract to SK Engineering and Construction and PTT Maintenance and Engineering for a debottlenecking project that will increase aromatics capacity by 16% to about 1.2-million t/y at its Aromatics II complex in Rayong, Thailand.

Vencorex is an owner of technology and a major producer of isocyanates in Europe, especially in toluene diisocyanate, hexamethylene diisocyanate (HDI) and HDI derivatives, which are major feedstocks in making polyurethane, which is used for making foams and coatings in the automobile and construction sectors.

PTT Global Chemical is a leading player in the petrochemical industry and owns several petrochemical facilities with a combined capacity of 8.45 million tonnes a year. PTTGC is 49% owned by state-controlled parent PTT Pcl, and uses ethane and liquefied petroleum gas (LPG) from the gas plant as feedstock for its I4-2 olefins plant.
MRC

MOSCOW (MRC) -- Solvay P&I will temporarily shut down its Adipic Acid and KA-oil (Olone) production on the Chalampe site (France) for maintenance, said the producer in its press release.

For six weeks in September and October, manufacturing will be completely stopped to allow the complete checking of
equipment integrity. This shutdown will also be an opportunity to bring about some improvements to production, decrease energy consumption and emissions, and improve the site’s environmental footprint. Solvay P&I is regularly investing in the sustainability of its production processes.

A substantial program of energy efficiency and heat recovery has recently been implanted in Chalampe (IRENE project). This program has now reached –even overtaken- its objectives. No consequences are expected for our regular customers.

"We will respect our commitments. Our contracted customers will be delivered as usual" says Regis Marceron, Commercial Director Europe for Solvay P&I.

The Chalampe site is the biggest European site for the production of KA-oil, (Olone), Adipic Acid, commercialized by Solvay under the brand name Rhodiacid, intermediates which are mainly used for the production of Polyamide resin.


As MRC wrote before, Solvay Polyamide & Intermediates announced the extension of its Stabamid portfolio. Two new families of superior quality polyamide resins are joining the Stabamid Original range.

Solvay Polyamide & Intermediates is one of the principal producers of polyamide and its intermediates, including HMD, Adipic Acid and Nylon salts. With the strength of 8 industrial plants, 3 research and development centres and numerous sales points across the globe, P&I is a trustworthy partner to its international customers.

MRC

MOSCOW (MRC) -- Arkema, a France-based chemical manufacturer and the world’s second leading producer of organic peroxides, increases its prices of all grades of hydrogen peroxide in Europe by up to 10% effective on 15 September, 2014 or as commitments allow, as per the company's press release.

Arkema markets hydrogen peroxide under the brands Albone, Peroxal and Valsterane. Hydrogen peroxide is used in many markets segments such as chemical synthesis, pulp and textile bleaching, aseptic packaging, cleaning, waste water treatment and cosmetics & hygiene.

As MRC reproted previously, in early 2014, Arkema announced the construction of a new organic peroxide plant on its Changshu site in China. This investment will help double the site’s production capacity. By doubling its production capacity in China, Arkema will continue to support the strong growth in the organic peroxide market in Asia, a region in which the group is also a producer in India, South Korea and Japan. The new Changshu plant is due to come on stream in early 2016.

Arkema with annual revenue of EUR6.4 billion is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. Arkema operates 11 organic peroxide plants on the three continents.
MRC

MOSCOW (MRC) -- Achinsk Oil refinery, suspended after the incident of 15 June, 2014 has recovered the processes of primary crude oil processing on a tight schedule, according to the plan of repair activities, reported Hydrocarbonprocessing.

From 1 September the enterprise has commenced production of the main types of oil products: straight-run gasoline, diesel fuel, marine fuel and aviation fuel, as well as WLHF (wide light hydrocarbon fraction). Concurrently with the primary crude processing plant a VT-Bitumen unit, producing petroleum bitumen, resumed to operating. Achinsk refinery is planned to produce more than 400,000 tonnes of finished product, which makes more than 70% of prefault performance. The production volume will be increased in months to come.

In the period of the refinery’s stoppage the company performed a number of events aimed to compensate oil products supplies to the Krasnoyarsk Territory. To meet this goal, the company increased the production volume at Angara Petrochemical Company and Komsomolsk refinery, an agreement was reached on purchase of oil products from third party manufacturers, supplies from Samara group of refineries were carried out. Retail chains of Rosneft enterprises and end-user consumers were provided with oil products in full extent.

As MRC informed before, last year, Rosneft and Mitsui signed an agreement to jointly develop the massive Far East Petrochemical Company (FEPCO) project. Processing capacity of the petrochemical complex is planned at 3.4 million tpy of hydrocarbon feedstock, predominantly naphtha. The capacity of ethylene and propylene production unit is planned at 2 million tpy.
MRC

MOSCOW (MRC) -- Rhine-Ruhr consortium of municipal utilities signed a contract with Evonik to take over the remaining 49% in the power utility STEAG, which is headquartered in Essen. The purchase price is about EUR570 million, said the producer in its press release.

The consortium which had already acquired 51% of STEAG in 2011, now becomes the sole owner of STEAG. The closing is expected in early September.

STEAG intends to expand the generation potential, especially in the area of renewable energy, in Germany and abroad, and to diversify itself more intensively in the generation mix. The goal on the one hand is to continue in the future to operate the domestic power plants competitively under the changed conditions of the energy turnaround in Germany and to continue to expand the trading expertise. Internationally, on the other hand, STEAG wants to take part in the growing worldwide market for conventional and renewable energies and to expand its market share in the area of services along the energy generation chain. In Germany, the intention is to establish STEAG as a municipal generation, trading, and service platform and to develop the business with industrial customers and within cooperative municipal enterprises.

As MRC wrote before, Evonik Industries is paving the way for a new technology whose applications include automotive finishes that are more scratch-resistant than ever before, reported the company in its press release.The specialty chemicals company has developed an industrial-scale method for producing silane-modified binders for automotive finishes.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.7 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
MRC