Sahara Q3 profits soar 608% on lower feedstock prices

MOSCOW (MRC) -- Sahara Petrochemical Co. posted net earnings of SAR 121 million for the third quarter ended 30 September, surging 608% compared with SAR 17 million in the same period a year ago, said Mushbasher.

Nine-month net income, however, plunged 73% year-on-year from SAR 302 million to SAR 83 million.

Q3 profit rise was boosted by lower feedstock prices and higher production and sales from affiliate Al-Waha Petrochemicals, the company said.

It added the nine-month fall was due to a drop in sales and prices of products.

As it was written before, in January 2015, Sahara Petrochemical Co said its subsidiary Al Waha Petrochemicals Co had secured 1.96 billion riyals (USd522 million) from two local lenders to refinance an existing Islamic loan.

Sahara Petrochemical is involved in building and operating petrochemical projects, especially propylene, polypropylene, ethylene and mixed polyethylene industries.
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MOSCOW (MRC) -- Through its venture capital arm, Evonik has invested in Airborne Oil & Gas (IJmuiden, Netherlands). The specialty chemicals group now holds a minority interest in the Dutch company. The investment was made jointly with HPE Growth Capital (HPE) and Shell Technology Ventures, as per Evonik's statement.

The parties have agreed not to disclose the volume of the transaction. Airborne Oil & Gas (AOG) possesses a unique technology for the production of thermoplastic composite pipes for a variety of offshore oil and gas applications.

The current offshore oil & gas infrastructure consists of either rigid steel pipes or so-called flexibles. The latter comprise of multiple layers of steel and polymers. AOG’s thermoplastic composite pipes dispense with steel entirely and are therefore not susceptible to corrosion. They have extremely high mechanical stability but are also flexible. As an added advantage they are lightweight and can be fabricated in lengths of up to 10 kilometers, which means that AOG’s pipes can be installed relatively simply and cost effectively. Rigid steel lines are welded together from segments that are 10-20 meters long, using highly specialized and costly pipelaying vessels.

AOG’s thermoplastic composite pipes are suitable and beneficial for a wide range of offshore applications. A number of operators have qualified AOG’s pipes for offshore oil & gas transport lines, where the benefits of low cost installation and the absence of corrosion offer breakthrough improvements. A considerable amount of the 150,000 to 200,000 km of globally installed transport lines is over 20 years old and in need of replacement, which is an attractive entry point for AOG.

For Evonik, the oil & gas industry is an attractive growth market and an important innovation field. Furthermore, the company is a market leader in polyamide 12, marketed as VESTAMID, which is well-proven in pipes for oil and gas production and transport "Airborne Oil & Gas is an excellent strategic match for Evonik," says Bernhard Mohr, head of Venture Capital at Evonik. "Their unique pipe technology and Evonik's high performance polymer portfolio enable us to develop new solutions for the industry."

"In Evonik we’ve gained a strategic investor with an extensive knowledge of plastics for oil & gas applications," says Eric van der Meer, CEO of AOG. "We hope this will give us additional impetus to develop our business further."

AOG’s pipelines consist of three layers: An inner plastic pipe is covered with a composite of unidirectional tapes, which in turn is sheathed by plastic. Polymers such as polyethylene, polypropylene, polyamide 12 and PEEK can be used. Unidirectional tapes are thin plastic bands in which continuous reinforcing fibers are embedded in parallel alignment. When a number of such bands are stacked vertically at defined angles and fused together, it results in an extremely stable composite.

As MRC informed before, Evonik Industries, a leading specialty chemicals manufacturer, is making an investment in the double-digit-million euro range in a new research center at the Rheinfelden site. Starting at the beginning of 2016, research into silanes will be carried out in modern laboratories in the four-story building. Silanes are used in the electronics industry, in the tire industry, for the production of adhesives and sealants as well as plastics, and in the construction industry.

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.
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MOSCOW (MRC) -- ABB, a world leader in power and automation technologies, has chosen Solvay Engineering Plastics’ Technyl One for a new contactor application, as per Solvay's press release.

Technyl One is an innovative generation of polyamide (PA) resins addressing major challenges in electrical equipment for energy management and building automation, such as safety, miniaturization and increased productivity.

With its high-flowability and high-temperature matrix, as well as excellent electrical properties and halogen-free fire performance, Technyl One has successfully demonstrated its suitability for demanding applications within the electrical protection segment. Targeted applications include Miniature Circuit breakers (MCBs), Moulded Case Circuit Breaker (MCCB) and contactor parts requiring high amperage and thermal resistance performance.

"The ease of processing of this Technyl One grade, combined with its high functionality, has been a determining factor for ABB during the development phase of our new contactor application. We observed during the electrical overload test, that the material exhibited a high retention of surface properties,”states Jacques Dumoux, ABB Plastic Material Manager (Low Tension). "For short durations, during this critical test, the connections of the new contactors are exposed to significant overloads - up to ten times the normal amperage which generates very high temperatures, to which the surrounding plastic parts must resist."

Continuous product miniaturization together with an increasing functionality is a constant challenge for the E&E industry. "Further, in the last decade the EU directives RoHS and REACH (SVHC) have had a significant impact on flame retardant technologies. These directives impacted a global market shift towards halogen-free plastics for the E&E industry," says Dr. James Mitchell, Global EE Market Director at Solvay Engineering Plastics.

"However, specifically for glass fibre filled polyamide and PBT, the adoption of the most efficient halogen-free flame retardant technology has also been associated with drawbacks in terms of physical properties and processing issues like tool corrosion. The superior rheological behaviour of Technyl One helps reduce the level of corrosive degradation during processing, which is beneficial to the tooling equipment as well as process and product consistency overall, thereby addressing both safety demands and meeting OEMs economic and processing needs," Dr. Mitchell added.

Technyl One J 60X1 V30 grade from Solvay Engineering Plastics is a halogen-free flame-retardant material. In addition to a fully compliant yellow card, Technyl One J 60X1 V30 also fulfills the new European standard EN 45545-2 that will come into force by 2016. This material offers the highest level of low-smoke performance being classified HL3 under R22 and R23. The current offering includes as stand natural, grey and black grades.

As MRC informed earlier, in early July 2015, Solvay and INEOS announced the start-up of their Joint Venture INOVYN, a world-class competitive player in chlorovinyls, following European Commission approval. The INOVYN Joint Venture combines two businesses with a strong heritage in the chlorovinyls industry.

Headquartered in London, INOVYN has pro-forma sales of more than EUR3 billion, with 4,300 employees and assets across 18 sites in Belgium, France, Germany, Italy, Norway, Spain, Sweden and the UK. Governance of the Joint Venture is equally split between the partners.
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MOSCOW (MRC) -- A biocide-free anti-slime coating developed by AkzoNobel's Marine Coatings business – which helps to save fuel and cut emissions – has been named overall winner of the prestigious ICIS Innovation Awards for 2015, said the producer on its site.

Intersleek 1100SR, part of the company's International range, is the first foul release coating to work against slime. By cutting down on drag, it offers ship operators major fuel savings, resulting in less emissions. It also enables owners who switch from a biocidal antifouling to earn carbon credits.

The pioneering technology not only won the Best Product Innovation category, but was also judged the clear overall winner by a panel of seven industry innovation experts. They said AkzoNobel had shown innovation in three key areas: in the design and use of a novel, rapid, high-throughput screening process; in the chemistry of the fluoropolymer-based coating itself, and in the way it has allowed ship operators to qualify for carbon credits.

"This award is fantastic recognition of the pioneering work carried out by our scientists to develop sustainable innovations with real benefits for our customers," said David Williams, Research Director for AkzoNobel's Marine Coatings business. "Intersleek 1100SR is a transforming technology for the marine industry, tackling the age-old problem of slime and offering substantial reduction in fuel consumption and carbon emissions."

ICIS is a leading provider of information services to the chemical and energy industries. The ICIS Innovation Awards recognize outstanding technological and business innovation in the chemical industry. Commenting on this year's competition, John Baker, ICIS editor and awards organizer, said: "This year's awards attracted a record entry and led to a very robust discussion as the judges debated the merits of the leading entries. As in previous years, the innovations before the judges showcased a wide range of excellent products and processes, with the potential to make important an impact in their respective markets and reduce environmental impacts."

AkzoNobel was also involved in another of the category winners. Enerkem's novel technology to produce renewable chemicals and biofuels from non-recyclable waste topped the Best Business Innovation category. AkzoNobel is part of a Dutch partnership working with Enerkem to develop the new technology.

As MRC informed earlier, AkzoNobel’s Specialty Chemicals business recently broke ground on a new alkoxylation facility in Ningbo, China, bringing the company’s total investment in the strategic multi-site to more than EUR400 million.

AkzoNobel Surface Chemistry is a global leader in the manufacturing and supply of specialty surfactants, synthetic and bio-polymer additives and specialty polymers. AkzoNobel currently employs more than 7,400 people in China. Revenues in China totaled EUR1.7 billion in 2014.

MRC

MOSCOW (MRC) -- DuPont announced that it will establish a new innovation and business headquarters in Singapore, said the company on its site.

The 11,000-square-meter facility will open in 2016 and house nearly 200 scientists, engineers and business leaders. Drawing on DuPont's leading position in Agriculture & Nutrition, Advanced Materials and Bio-based Industrials, the new DuPont Singapore ASEAN headquarters will focus on delivering new innovations tailored to meet the unique needs of the ASEAN marketplace.

"DuPont's powerful innovation pipeline is driven by our unique combination of science and engineering, strong execution and global reach. The DuPont Singapore ASEAN headquarters will bring us closer than ever to our ASEAN customers so that together we can more quickly develop and deliver innovative solutions for the region and the world," said DuPont Senior Vice President and Chief Science & Technology Officer Douglas Muzyka.

ASEAN is an increasingly important economic region for DuPont that has delivered consistent growth for the company. With more than 620 million people, and with a rapidly rising middle class, the region is home to a rapidly expanding knowledge base.

DuPont is present in eight ASEAN countries and has operated in Singapore since 1973. With the establishment of this new ASEAN business and R&D headquarters, DuPont's total workforce presence in Singapore will grow significantly. The facility is expected to expand to over 300 employees by 2020. It will be part of DuPont's global network of thirteen innovation centers and 150 research and development centers worldwide, focusing on bringing new science-based innovations to customers everywhere.

As MRC informed earlier, DuPont named Rose Lee as president of its Protection Technologies business effective October 1, reporting to DuPont Senior Vice President Marc Doyle.

DuPont is an American chemical company that was founded in July, 1802. The company manufactures a wide range of chemical products, leading extensive innovative research in this field. The company is the inventor of many unique plastics and other materials, including neoprene, nylon, Teflon, Kevlar, Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon used in the production of refrigeration equipment.
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