Asahi Kasei receives antitrust clearance for Polypore acquisition

MOSCOW (MRC) -- Asahi Kasei said on Thursday that the Fair Trade Commission of the Republic of Korea on 19 August cleared the previously announced acquisition of Polypore International (Charlotte, NC), said the producer in its press release.

With this clearance, Polypore, Asahi Kasei and 3M, which is acquiring Polypore’s separation media segment, have received all antitrust clearances from applicable US and foreign regulatory authorities required in connection with the deals. The transactions are expected to close on 26 August 2015.

As MRC informed earlier, on February 23, 2015, Asahi Kasei announced that it had entered into a definitive merger agreement to acquire Polypore International, Inc. through a US subsidiary.

Asahi Kasei Corporation is a global Japanese chemical company. Its main products are chemicals and materials science.
MRC

Shenyang Chemical shut LLDPE plant in China for maintenance

MOSCOW (MRC) -- Shenyang Chemical has taken off-stream a linear low density polyethylene (LLDPE) plant for a maintenance turnaround, as per Apic-online.

A Polymerupdate source in China informed that the plant was shut early last week. It is likely to remain off-stream till end August 2015.

Located in Liaoning province, China, the LLDPE plant has a production capacity of 100,000 mt/year.

As MRC informed previously, in late July 2015, Sinopec Yangzi Petrochemical shut its LLDPE plant for maintenance. It is likely to remain off-stream for around one month. Located at Nanjing in China, the plant has a production capacity of 200,000 mt/year.

Besides, PetroChina, China's largest oil and gas producer, restarted a high density polyethylene/linear low density polyethylene (HDPE/LLDPE) plant following maintenance turnaround in early June 2015. It was shut on April 10, 2015. Located in Dushanzi, China, the plant has a production capacity of 660,000 mt/year.
MRC

PPG to acquire remaining stake in Chemfil Canada joint venture


MOSCOW (MRC) -- PPG Industries announced that it has reached a definitive agreement to acquire the remaining interest in Chemfil Canada Limited, a joint venture of PPG and Madinal Enterprises, as per producer's press release.

The transaction is expected to close in the third quarter, subject to customary closing conditions. Financial terms were not disclosed.

Chemfil Canada produces pretreatment products, as well as some general industrial chemicals, for automotive original equipment manufacturers (OEMs) and industrial customers in Canada.

The acquisition will enhance PPG’s pretreatment presence and capabilities in Canada, and after closing the acquired products and services will be offered under the PPG name. Also at the conclusion of the transaction, an affiliate of Madinal Enterprises will own the Windsor production facility and certain non-pretreatment business and product lines that will continue to use the Chemfil name.

As MRC informed earlier, in June 2015 PPG Industries agreed to acquire US-based IVC Industrial Coatings for an undisclosed amount.

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2014 were USD15.4 billion.
MRC

Hindustan Sanitaryware and Industries to invest USD17.2mln in caps and closures

MOSCOW (MRC) -- Hindustan Sanitaryware and Industries (HSIL) plans to invest INR 1.12 bln (USD17.2 mln) is setting up a plant to manufacture security caps and closures that prevent counterfeiting, said Plastemart.

The proposed facility will complement the existing portfolio of HSIL's packaging products division.
HSIL also plans to invest USD16 mln in plant to manufacture chlorinated polyvinyl chloride (CPVC) and UPVC pipes and fitting used in plumbing and sanitation.

As MRC informed earlier, Hindustan Petroleum Corporation Ltd (HPCL) shelved a plan to build a refinery in Andhra Pradesh, although it will go ahead with a proposed petrochemical unit.
MRC

Borouge selects Neste Jacobs as FEED contractor on Ruwais PE upgrade

MOSCOW (MRC) -- Borouge has selected Neste Jacobs, a technology, engineering and project management company, as a front-end engineering and design (FEED) service contractor for its polyethylene (PE) plant modification project, located in the Ruwais industrial area of the UAE, said Hydrocarbonprocessing.

This project is the third FEED project in a row which Neste Jacobs is delivering to Borouge in the UAE under the long-term service contract that was previously signed between the two companies (Tier 1 contract).

"This contract is an important milestone in cooperation and partnership between Neste Jacobs and Borouge," said Jarmo Suominen, CEO of Neste Jacobs. "This project is also a proof that we are generating real added values for our customers and provide high quality services competitively in the Middle East and also globally."

The project scope includes FEED services such as process and plant engineering and project management. The project will be executed by Neste Jacobs' Abu Dhabi office, and it will be delivered within the course of year 2015.

"Neste Jacobs' extensive know-how of our polyethylene process technology and our production plants combined with Neste Jacobs' local presence in the Middle East were some of the most important selection criteria for choosing a FEED contractor," said Abdulla N. Ateya, senior vice president of Borouge's technical group.

"Neste Jacobs is our long-term engineering partner and we are very much looking forward to extending our good cooperation with them," he added.

As MRC informed earlier, Borealis and Borouge, the world's leading providers of innovative, value-creating solutions for the wire and cable industry, continue to deliver on their commitment to driving innovation in the global industry. Borealis and Borouge have developed new products such as Borealis PP4874 for data cables and Borealis LE0563 for submarine power cable jackets, which will be showcased at the 2014 Wire Dusseldorf. Thus, the company is going to launch its two new grades at the event.

Borouge is a joint venture between the Abu Dhabi National Oil company and Borealis.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. Borealis is headquartered in Vienna, Austria, and operates in over 120 countries with around 5,300 employees worldwide.


MRC