Evonik drives sustainability

MOSCOW (MRC) -- Germany-based Evonik systematically advanced its commitment for more sustainability last year, said the company in its press release.

The company reports on the advances that were achieved in its Sustainability Report 2014. The specialty chemicals company globally assumes responsibility for its businesses, employees, the environment and society. In doing so, Evonik takes a targeted approach in increasing its contribution to a sustainable development with its resource-saving products and solutions and the continuous improvement of its processes. Evonik’s Chief Human Resources Officer Thomas Wessel remarked: "We are reacting to a growing demand from our customers for products that strike a balance between economic, ecological and social factors. When it comes to sustainability, Evonik considers the entire value chain-from raw material supply to product application."

Evonik aims at improving the company’s ecological footprint. The company makes a contribution to climate protection by consistently working on reducing its specific greenhouse gas emissions, among other things. Compared to the previous year, they were cut by one percentage point in 2014. Compared to the reference year 2012, they are now 93 percent.

By 2020, Evonik wants to cut its specific greenhouse gas emissions by 12 percent in comparison to the production in 2012. The performance indicator includes direct and indirect greenhouse gas emissions. In the same period, the specific water consumption indicating water consumption during production is to be reduced by 10 percent. In 2014, it had increased by eight percentage points and is thus up three percentage points from 2012.

As part of Evonik's strategic development, the Executive Board decided in summer 2014 to manage the sustainability topic in an independent corporate division in the Chief Human Resources Officer’s area of responsibility. Topics derived from the sustainability strategy are implemented via binding objectives in the business and corporate units.

In 2014, Evonik was included in the stock market indexes for responsible investment, FTSE4Good Global and STOXX Global ESG. STOXX Limited lists the company in the Global ESG Leaders index. The Sustainalytics and Oekom Research rating agencies count Evonik among the leading companies when evaluating sustainability performance. The Carbon Disclosure Project (CDP) rated the Group on a very high level of 91B in its first participation in the Investor CDP 2014.

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 2014 more than 33,000 employees generated sales of around EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR1.9 billion.
MRC

MOSCOW (MRC) -- Iran is reportedly planning to commission three new petrochemical plants by March 2016 at Mahabad, Kordestan and Lorest, as per Plastemart.

These facilities are located along the West Ethylene Pipeline in West Azerbaijan, Kordestan and Lorestan provinces, as per energy-business-review.com. The projects are expected to increase Iran's low and high density polyethylene production by around 900,000 tons.

"The necessary feedstock for these petrochemical plants will be supplied by various phases of South Pars gas field and there will be no problem in this regard," National Petrochemical official Shahedaei added.

As MRC reported earlier, Iran, as one of the main energy hubs in the world, with huge oil and gas reserves, is one of the leading producers of petrochemical products in the world.

In 2006, the total consumption of different polymer products was 202 million metric tons and it is estimated this figure reach to 316 million metric ton by 2016. This means only countries with huge feeding materials can be successful on raising production level, and gladly Iran is among one of those countries.

Currently number of active Iranian Petrochemical complexes are 53, with total production capacity of 59 million metric ton, producing range of polymers, chemicals, aromatics & liquid gas, located mainly at Iranian south region, next to Persian Gulf, called Assaluyeh and Mahshahr Special Economic Zones.

At the moment, there are 67 developments projects in the country which are under construction, adding 61 million metric ton on total production and estimated to fully run till 2018.

MRC

MOSCOW (MRC) -- Sika's founding family has filed a legal challenge to decisions taken at the company's April shareholders' meeting, marking the latest twist in the family's six-month old effort to sell its shares in the Swiss industrial group to France's Saint-Gobain, said the Financial Times.

The Burkard family are appealing against votes in April that the family was not allowed to use its full 52 per cent voting rights, reports Laura Noonan, investment banking correspondent.

If the family had been allowed to vote, they could have elected new board members who would have sanctioned the EUR2.75bn sale of the family's stake.

Sika's management and board oppose the sale.

A spokesman for the family's SWH investment vehicle told the Financial Times an action was lodged with the court in Zug, Switzerland, on May 26.

The family is separately awaiting a judge's decision on whether they can vote with all their shares at a July shareholder meeting.

As MRC informed earlier, recently Sika has achieved outstanding results in this year’s leading brand rating in Switzerland, “Best Swiss Brands 2015” : The brand value of the international specialty chemical company has increased by 78% in the last twelve months and was assessed best improver in the ranking.

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories. Its more than 16,000 employees generated annual sales of CHF 5.6 billion in 2014.
MRC

MOSCOW (MRC) -- Valspar has agreed to buy Quest Specialty Chemicals' automotive refinishing business and an industrial coatings business, said the company.

These two business segments finished 2014 with sales of USD190 million, according to a Valspar news release. Terms of the sale, which is expected to close during the third quarter of 2015, were not disclosed.

"The acquisition strengthens Valspar's value proposition in automotive refinish," Valspar CEO Gary Hendrickson said in the release. "Our customers will benefit from expanded distribution of a portfolio of preferred brands they know and trust, a broader range of high-performance products and a stronger service network."

Quest Automotive Products formulates, manufactures and distributes technology paints, coatings systems and accessories to professional refinishers in North America and Europe.

As MRC informed earlier, Valspar completed development of a USD45m manufacturing centre in Tianjin, China, for a range of paints and coatings products in April 2015.

The Valspar Corporation is an American international manufacturer of paint and coatings based in Minneapolis, Minnesota, USA. With nearly 10,000 employees in 25 countries and a company history that spans over two centuries long, it is the sixth largest paint and coating corporation in the world. Valspar was founded in 1806 as a paint dealership in Boston, Massachusetts. The Valspar name emerged in 1903 as a new clear varnish, and became the company name in 1932.
MRC

MOSCOW (MRC) -- Rising demand for polycarbonate (PC) plastics is expected to boost the growth of the global bisphenol A (BPA) market, which is expected to post a CAGR of 5% from 2015-2019, as per Plastemart with reference to Technavio's report.

BPA is a carbon-based synthetic compound used in the production of polycarbonate plastics and epoxy resins. Polycarbonate plastics have high tensile strength and high thermal stability properties, which makes them useful in the packaging industry, as they can be cleaned easily.

"The light weight property of polycarbonate plastics makes them efficient for the production of light vehicles," says Faisal Ghaus, Vice President of Technavio. "Polycarbonate plastics are used in various industries, including electronics, construction and automotive, and demand for this plastic is increasing gradually."

Furthermore, the report also emphasizes BPA products that are increasingly being used for various industrial applications. "BPA is used to make epoxy resins, which can then be made into highly efficient, lightweight wind turbine blades," says Ghaus.

As MRC informed previously, KHPC, a sole producer of polycarbonate (PC) in Iran, has started exporting different grades of PC to Russian market since April 2015. KHPC finished its fundamental maintenance in early April and was operating with 70% capacity utilisation and planning to increase production in a short time. It is planned to produce new PC grades, such as bottle and optical grades, this year and produce at least 25,000 MT varieties of PC grades.
MRC