Saudi Kayan signs 2 Islamic financing deals totalling USD700 mln

МОSCOW (MRC) -- Saudi Kayan Petrochemical Company , an affiliate of Saudi Basic Industries Corp (SABIC) , has signed two Islamic financing deals totalling SR 2.63 bln (USD700 mln), as per Reuters.

It signed a 1.5 billion riyal agreement with National Commercial Bank, the kingdom's largest lender by assets, for up to 15 years, and a 1.13 billion riyal facility with Samba Financial Group, another Saudi Arabian lender, for up to 10 years.

Both deals are under a Murabaha arrangement, a cost-plus sale arrangement which is commonly used in many parts of the Islamic world.

As MRC wrote earlier, Saudi Kayan, Sadara Chemical and Saudi Acrylic Acid Company (SAAC) have joined forces to establish a new company, which will build the first butanol plant in the Middle East and the largest in the world. The Saudi Butanol Company, which will produce butanol to support the growth of the paints and coatings industry in Saudi Arabia, will be located at Tasnee Petrochemicals Complex in Jubail Industrial City and operated by Tasnee.

Saudi Kayan Petrochemical Company is a manufacturing affiliate of the Saudi Basic Industries Corporation (Sabic).
MRC

MOSCOW (MRC) -- As the first company Evonik Industries launched a modular system of bio-based polyester polyols for reactive hotmelt adhesives, under the name DYNACOLL Terra, said the producer on its site.

These are the "green" alternatives to the petrochemical polyols, and also expand the property spectrum of the existing product range.

The DYNACOLL Terra range includes nine medium-molecular-weight polyester polyols in which the content of renewable raw materials ranges from more than 30 to 100 percent. As in the case of the petrochemical based grades, this is a modular system consisting of amorphous, liquid, and crystalline grades; their spectrum of viscosities, melting points, and glass transition temperatures determine to a large extent the properties of the formulated PUR hotmelts such as open time, initial strength, and setting time. The bio-based formulations allow the production of reactive hotmelts with properties comparable to those of petrochemically based polyesters; in some cases the products can be even better.

In developing DYNACOLL Terra, Evonik is underscoring its commitment to corporate responsibility and accelerating the trend in the chemical industry toward a greener future.

As MRC informed previously, Evonik Industries is paving the way for a new technology whose applications include automotive finishes that are more scratch-resistant than ever before. The specialty chemicals company has developed an industrial-scale method for producing silane-modified binders for automotive finishes. The advantage of these silane-modified binders: silane groups increase crosslinking density, making it possible to create automotive finishes that are flexible yet harder, leading to improved scratch resistance.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. 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 EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
MRC

MOSCOW (MRC) -- Munich-based chemical company Wacker has presented several novelties for the cosmetic industry, among which are nature-identical hydroxytyrosol, marketed under the brand name HTEssence, and BELSIL EG 2, a new silicone elastomer gel for skin care and decorative cosmetics, reported the company on its site.

Hydroxytyrosol, a highly effective antioxidant, acts as a free-radical scavenger and can reduce skin aging and dark pigmentation. Thanks to Wacker’s new patented process, the ingredient is now available as a nature-identical substance of much greater purity, free of unwanted byproducts, and with a defined amount of active ingredient.

The new silicone elastomer gel BELSIL EG 2 was developed for skin care and make up formulations. The gel improves spreadability and skin feel, making the skin smooth and supple.

Two other products will play center stage at in cosmetics: the aminofunctional silicone emulsion BELSIL ADM 9000 E and the caprylyl dimethicone ethoxy glucoside BELSIL WO 5000. BELSIL® ADM 9000 E, a macroemulsion for hair care products targeting medium to strongly damaged hair, shows an effective reduction of dry and wet combing forces thus avoiding mechanical damage. The silicone emulsion provides a soft and silky hair feel. The product especially caters to hair care products such as shampoos, rinse-off conditioners, hair masks, and serums as well as mousse formulations.

BELSIL WO 5000 was especially developed for water-in-oil and water-in-silicone formulations. The product uses a natural sugar-based component, which produces a mild water-in-oil emulsifier. BELSIL WO 5000 is deal for formulating skincare and suncare products as well as decorative cosmetics.

As MRC informed earlier, Wacker is also expanding its product range with a new liquid silicone rubber for the production of automotive gaskets. Molded parts made from the new silicone are resistant to heat and coolant and exhibit low compression set even under permanent stress. Car radiators and cooling-system components can thus be reliably sealed. ELASTOSIL RT 728, as the new silicone grade is called, can be injection molded or mechanically dispensed straight onto the part to be sealed.

Wacker Chemie AG is a worldwide operating company in the chemical business, founded 1914. The company is controlled by the Wacker-family holding more than 50 percent of the shares. The corporation is operating more than 25 production sites in Europe, Asia, and the Americas. The product range includes silicone rubbers, polymer products like ethylene vinyl acetate redispersible polymer powder, chemical materials, polysilicon and wafers for semiconductor industry.
MRC

MOSCOW (MRC) -- BASF will expand the production capacity of its existing world-scale production plant for tertiary Butylamine (tBA) at the Nanjing Chemical Industry Park in China, as per the company's statement.

The company plans to increase the existing production capacity by 60%, from 10,000 tons to 16,000 tons per year. The expansion is expected to come on stream in early 2015, subject to regulatory approval. The capacity increase will further strengthen BASF’s leading position as a global supplier to the rubber and tire industry.

"The expansion will enable us to continue meeting the notably increased demand of our customers in Asia especially China reliably out of our local assets in China," said Dr. Guido Voit, Senior Vice President, BASF Intermediates Asia Pacific. "We are proud to support the growth of our customers as their reliable local supplier with our commitment in product stewardship and high safety standards."

tBA is a primary aliphatic amine that is used as an intermediate for the production of accelerators for the rubber and tire industry. It is also used in the pharmaceutical and agricultural industries as a building block. In addition to the plant in Nanjing, BASF produces tBA in Geismar, Louisiana, and in Antwerp, Belgium.

As MRC wrote before, in early 2014, BASF and China Petroleum & Chemical Corporation (Sinopec) brake ground on the construction of its world-scale isononanol (INA) plant in Maoming Hi-tech Industrial Development Zone, Maoming, China. At start-up in 2015, the plant, which is the first of its kind in China, will serve the increasing market demand for next-generation plasticizers. A newly-formed 50-50 joint venture company has been created, BASF MPCC Company Limited.

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas.
MRC

MOSCOW (MRC) -- LG Chem, South Korean petrochemical company, is in plans to take off-stream its butadiene (BD) plant for maintenance turnaround, reported Apic-online.

A Polymerupdate source in South Korea informed that the plant is planned to be shut in March 2015. It is likely to remain off-stream for around one month.

Located in Daesan, South Korea, the plant has a production capacity of 145,000 mt/year.

As MRC informed previously, on October 15, 2014, LG Chemical took off-stream an aromatics plant in South Korea for maintenance turnaround. It will remain off-stream till end-November 2014. Located at Yeosu in South Korea, the plant has a benzene capacity of 240,000 mt/year, toluene capacity of 100,000 mt/year and solvent-grade MX capacity of 55,000 mt/year.

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.
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