BASF launches new generation of eco-friendly spray foam insulation

MOSCOW (MRC) -- BASF, the world's petrochemical major, has launched new generation of eco-friendly spray foam insulation, said the producer on its site.

According to BASF, the construction industry is faced with major challenges in the coming years: in a wide range of projects - new buildings, restorations, and interior finish - there will be big demand for progressive and sustainable products. In order to reconcile energy efficiency, architectural ambition, and home comfort, BASF has launched the new Elastospray LWP spray foam insulation, which is said to combine high insulation performance with good environmental protection.

According to the manufacturer, the systems are the consistent further development of the proven spray foams from BASF. In addition to improving environmental compatibility, they deliver the accustomed good insulation, thanks in particular to their closed-cell structure. The product properties make Elastospray LWP a good choice for all applications demanding speedy, simple, cost-effective, and sustainable construction methods. Suitable for almost all areas of the building envelope, the material impresses above all with its low thermal conductivity owing to its closed-cell structure and air-tightness while permitting insulation without thermal bridges, says BASF. In addition, it displays immaculate mechanical properties such as high compressive strength and appropriate water vapour permeability. In residential or commercial buildings, new or renovated, Elastospray LWP is an assurance of comfort and a good interior climate.

In its bid to curb climate change, the European Union aims to drastically reduce fluorinated gases (F-gases) with high Global Warming Potential (GWP). The associated EU Regulation is targeting a two-thirds cut in F-gas emissions across Europe by the year 2030. For industry, this means substituting hydrofluorocarbons (HFCs), as conventionally used as blowing agents in spray foam, with eco-friendlier alternatives.

"Climate change ranks among the biggest challenges of our time. At BASF, it is our endeavour to continually develop new products that support reductions in greenhouse gas emissions and sustainable resource use," explained Jesper Bjerregaard, Director Marketing Construction at BASF Performance Materials. With the rapid development and market launch of the Elastospray LWP product line in the course of 2017, BASF said it ranks among the front runners in the industry.

As MRC informed before, in November 2014, BASF was one of the first European manufacturers that had switched its entire portfolio of polystyrene-based insulation products for the European market to a new flame retardant, nine months ahead of the deadline laid down in the EU REACH Regulation on chemicals.

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF generated sales of about EUR58 billion in 2016.
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MOSCOW (MRC) -- Bemis Company, Inc. announced its planned actions in a restructuring and cost savings program to improve efficiency and profitability that further positions the Company for long-term success, said the company on its website.

The Company will implement these initiatives while maintaining the high quality products, best-in-class service, and culture of respect and innovation consistent with Bemis’ standards.

“Improving the performance of our U.S. Packaging business is a key priority in creating value for our shareholders," said William F. Austen, Bemis Company's President and Chief Executive Officer. "During April, we began a review to align our U.S. manufacturing and administrative cost structures with the demands of our customer base to better position the Company in the current environment and for its long-term success. Given the challenges in the Brazilian economic environment, we also expanded the scope of our review to include our entire global business. We are targeting a total company cost savings plan of USD55 to USD60 million as we create a more agile, streamlined, and efficient business that is well-positioned for the long-term."

The Company has definitive plans to close two manufacturing facilities; work performed at these facilities will be transferred to other Bemis locations. The Company will initiate the closing of one of these facilities in 2017 and the other in 2018. Benefits from these two plant closures will be approximately USD10 million when fully implemented. The Company continues to evaluate opportunities to consolidate additional facilities.

The Company will reduce its administrative support cost structure to align with the current business environment. These activities will result in a reduction of approximately 300 positions, or 5 percent of the global administrative workforce, over the next three years. Impacted employees will receive job placement assistance and severance benefits to assist in their transition. The cost savings from these changes will be approximately USD20 million over the next three years.

Bemis Company, Inc. is a major supplier of flexible and rigid plastic packaging used by leading food, consumer products, healthcare, and other companies worldwide. Founded in 1858, Bemis reported 2016 net sales from continuing operations of USD4.0 billion. Bemis has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs approximately 17,500 individuals worldwide.
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MOSCOW (MRC) -- Arkema has successfully completed a EUR200 million tap of its bond maturing on 20 April 2027, increasing the nominal amount of the bond to EUR900 million, as per the company's press release.

The bond bears a coupon of 1.50%.

This operation, which is carried out as part of the Group’s long-term financing policy, enables Arkema to continue to take advantage of favorable market conditions to refinance and extend the average maturity of its financial resources.

As MRC informed before, in early March 2017, Arkema completed the sale to INEOS of its 50% stake in Oxochimie, their oxo alcohols manufacturing joint venture, and of the associated business.

Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.
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MOSCOW (MRC) -- Formosa Plastics, part of Formosa Petrochemical, expects to restart multiple units at its Point Comfort, Texas, complex over the long Fourth of July holiday weekend following an unplanned outage, as per Plastemart.

The outage began Saturday after lightning struck a transformer, causing a power outage at a pair of olefins units, as well as the polyethylene, polypropylene, ethylene glycol and chlor-alkali plants, sources said.

Formosa could not immediately provide comments. A source with knowledge of company operations said the shutdown was having an impact on production at the site, with the outage expected to last 7 to 10 days.

The Point Comfort complex, Formosa's largest in the US, is located about 90 miles from Corpus Christi on the Texas Gulf Coast. Formosa's steam crackers produce about 3.3 mln mtpa of olefins at Point Comfort. The complex can produce almost 1.5 mln mtpa of high density polyethylene, 582,000 m tpa of linear low-density polyethylene, 1.9 mln mtpa of polypropylene (PP) and 736,000 m tpa of chlor-alkali.

As MRC reported earlier, in 2015, Formosa Plastics Corporation, U.S.A. announced that it would build a new, state-of- the-art PP production line at its Point Comfort, Texas site. This will be the first new PP production to be built in the US in many years.

Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company's plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
MRC

MOSCOW (MRC) -- Petrochemicals Malaysia, a subsidiary of Idemitsu Kosan Co, is in plans to take off-stream a polystyrene (PS) plant for a maintenance turnaround, as per Apic-online.

A Polymerupdate source in Malaysia informed that the company has schedule to shut the plant in October 2017. The plant is likely to remain off-line for around 6 weeks.

Located at Pasir Gudang in Johor state of Malaysia, the plant has a production capacity of 120,000 mt/year.

As MRC informed before, Japan's Idemitsu Kosan said in late November 2016 its JV with Mitsui Chemicals would conduct work to expand the processing of propane at Idemitsu's naphtha cracker to take advantage of cheap liquefied petroleum gas (LPG) prices.

Idemitsu Kosan is a Japanese petroleum company. It owns and operates oil platforms, refineries and produces and sells petroleum, oils and petrochemical products. The company runs two petrochemical plants in Chiba and Tokuyama. The two naphtha crackers can produce up to 997,000 tonnes of ethylene per year. Petrochemicals Malaysia is a subsidiary of Japan-based Idemitsu Kosan Co.
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