Cosmo Films offers a comprehensive range of overwrap films

MOSCOW (MRC) -- Cosmo Films, a global leader in films for packaging, labeling and lamination applications now offers a comprehensive range of overwrap films which include high shrink tight wrap, medium shrink, general overwrap and cable overwrap films, as per the company's press release.

The overwrap films offered are untreated both side heat sealable BOPP based films which not only offer protection to products packed inside due to their moisture barrier property but also enhance the pack optics because of their transparency, clarity and wrinkle free appearance. The high shrink tight wrap films offer shrinkage values in range of 9-11% and are meant for individual cigarette packs. Medium shrink films offer shrinkage in range of 4-6% and are suitable for bundling individual cartons. General overwrap films are used for general purpose printing, pouching & packaging of snacks, bakery products; IV fluids overwraps, textile & hosiery overwraps etc. Cable insulation overwrap films offer excellent moisture barrier and protection from grease, oil and dust.

The films are capable of running at high speed wrapping machines. For instance, tight wrap films enable seamless application at 350 to 380 packets per minute. They also offer excellent hot slip properties, high stiffness and good machinability.

Commenting on the development Mr. Kapil Anand, Head-Label Films Exports, Cosmo Films said, "Though we mostly cater to food & beverage industry through our range of products, we are now glad to be offering products for tobacco industry as well. Apart from the primary benefit of moisture barrier, high shrink film’s shrink ability enables tight wrapping of the cigarette packs that comes in handy for their easy dispensing from the vending machines."

As MRC informed previously, in H1 2017, osmo Films commenced a new line of production of BOPP films. The new line has a capacity of 60,000 tpa, which will enhance the company’s overall capacity by 4%.

Established in 1981, Cosmo Films Limited today is a global leader in speciality films for packaging, lamination and labeling applications. Its films offerings include biaxially oriented polypropylene (BOPP) films, cast polypropylene (CPP) films and soon to be offered biaxially oriented polyethylene terephthalate (BOPET) films. Today, the company is the largest exporter of BOPP films from India and is also the largest producer of thermal laminating films in the world with plant cum distribution centres in the U.S, Korea & Japan and global channel partners in more than seventy countries.
MRC

European PE prices increased by EUR30 in October

MOSCOW (Market Report) - The October contract price of ethylene in Europe was agreed up EUR30/tonne than in September. However, European polyethylene (PE) producers raised their export PE prices by EUR30-50/tonne for October shipments to the CIS countries, as per ICIS-MRC's Price report.

Negotiations over October export prices of European PE to be shipped to the CIS markets began last week. Many negotiators said most European producers raised their export PE prices more than the amount of the increase of monomer prices. Only in some cases, there was a price increase of EUR30/tonne, whereas in most cases, the rise was EUR40/tonne or higher.

October deals for high density polyethylene (HDPE) were discussed in the range EUR1,050-1,110/tonne FCA, whereas last month's deals were done in the range of EUR1,020-1,070/tonne FCA. Deals for black PE 100 were done in the range of EUR1,250-1,270/tonne FCA.

October deals for low density polyethylene (LDPE) were negotiated in the range of EUR1,130 - 1,220/tonne FCA, whereas last month's deals were done in the range of EUR1,090 - 1,180/tonne FCA. Most producers increased prices for linear polyethylene by EUR50/tonne in comparison with the level of September, deals were discussed in the range EUR1,360-1,420/tonne, FCA.
MRC

Innovation drives growth at Evonik

MOSCOW (MRC) -- Evonik, one of the world leaders in specialty chemicals, plans to leverage additional growth potential with innovations, said the producer in its press release.

"New products, solutions and business models will make a significant contribution to the growth and profitability of Evonik. That is an essential part of our strategic agenda," noted Harald Schwager, deputy chairman of the Evonik Industries Executive Board and responsible for innovation. Evonik’s innovation pipeline is well filled. The overall value of pipeline projects with detailed business plans has increased by a third over the past five years.

Schwager intends to quickly implement these business plans to generate additional sales from the value of the project pipeline. "We have to bring our innovation projects to customers in faster, even more targeted ways. We will achieve that with greater efficiency in research and development, working in close collaboration with our customers," he said. In the intermediate term, Evonik’s goal is to increase the sales share from products and applications developed in the past five years to sixteen percent. This portion is currently ten percent.

Evonik wants to increasingly support customer success with digital technologies. The company announced this summer that it would make around EUR100 million available for digitalization projects. "Our focus is on new business models as well as bespoke solutions and services for customers. Digital change will be an essential innovation driver, moving through the supply chain to reach our customers’ industries," Schwager emphasized.

Research & development expenses will remain at a high level with over EUR400 million per year. However, Schwager does not consider research an end in itself. "It must occur in a targeted way in projects that promise more business and growth – in the short, intermediate and long term." Accordingly, some ninety percent of funds are invested in the research efforts of the operative segments, and specifically in businesses with particularly high growth potential. The revenue share of R&D expenses (R&D ratio) in these businesses is already between 4 and 6 percent. Throughout the Group, the R&D ratio exceeds 3 percent.

"Innovation is the key to securing and expanding our market positions. On top of that, we are focusing on areas that will generate new business for us, driven by innovation," says Ulrich Kusthardt, Chief Innovation Officer. Evonik places particular emphasis on six innovation growth fields: Sustainable Nutrition, Healthcare Solutions, Advanced Food Ingredients, Membranes, Cosmetic Solutions und Additive Manufacturing. Each of them is backed up by a clear strategy with business objectives, market goals and business models, up to and including the acquisition of competencies. "The innovations from these fields will generate another €1 billion in sales by the year 2025," Kusthardt explains.

As MRC informed previously, Evonik Resource Efficiency will invest in a capacity expansion of its performance foams business at its production site in Darmstadt, Germany. The investment will increase the output of the facility by about 20% as a first step. The Group will be adding production equipment to its operations complex that manufactures products marketed under the Rohacell brand. The expanded production capacity is expected to be operational by the second half of 2017.

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.
MRC

US crude stocks fall as exports hit new record

MOSCOW (MRC) — US crude oil stocks fell sharply last week as crude exports rose to a record high of nearly 2 MMbpd, said Hydrocarbonprocessing.

Crude inventories fell 6 MMbbl in the week to Sept. 29, compared with analysts' expectations for a decrease of 756,000 bbl. Inventories have dropped in the past two weeks as Gulf Coast refineries restart after weeks of shutdowns due to Hurricane Harvey.

Crude exports, meanwhile, jumped to 1.98 MMbpd, surpassing the 1.5 MMbpd record set the previous week. The jump in US exports points to growing demand and the rising profile of the United States as a major supplier of crude and products around the world.

The increase has in part been driven by a recent widening between prices for US West Texas Intermediate crude and Brent futures. The North Sea benchmark last week hit its highest premium over WTI in two years, making US crude increasingly competitive in foreign markets.

"A wide price premium of Brent over WTI crude has boosted appetite for US oil globally, which was reflected in the rise in exports," said Abhishek Kumar, senior energy analyst at Interfax Energy’s Global Gas Analytics in London.

The benchmarks turned positive immediately after the data. By 11:03 a.m. EDT (1503 GMT), WTI up four cents at USD50.49 while Brent was unchanged at USD56/bbl.

The spread between the December contracts on both benchmarks narrowed to USD5.20 from USD5.31 before the data. Crude stocks at the Cushing, Oklahoma, delivery hub for WTI futures rose by 1.5 MMbbl, EIA said.

US crude imports fell last week by 706,000 bpd. Refinery crude runs fell by 145,000 bpd and refinery utilization rates fell by 0.5 percentage point to 88.1% of total capacity, EIA data showed.

Distillate stockpiles, which include diesel and heating oil, fell 2.6 MMbbl, versus expectations for a 1.8-MMbbl drop, the EIA data showed. Gasoline stocks rose 1.6 MMbbl, compared with analyst expectations in a Reuters poll for a 1.1-MMbbl gain.
MRC

Celanese/Mitsui methanol plant in Texas fully operational after Harvey

MOSCOW (MRC) -- The 1.3 million mt/year Celanese/Mitsui methanol plant in Clear Lake, Texas, has successfully restarted following its shutdown August 26 amid a process trip associated with Hurricane Harvey, as per Apic-online with reference to the company's statement.

"Celanese has a standard practice of not commenting on the operational status of its global manufacturing facilities," spokesman Travis Jacobsen said. "However, given the extenuating circumstances resulting from Hurricane Harvey, yes, I can confirm that Celanese has restarted its methanol unit at its Clear Lake, Texas, facility."

The methanol facility in Clear Lake shut down after a process trip during heavy rainfall, the company said August 27 in a filing with state regulators. The shutdown also affected all downstream acetic acid and vinyl acetate monomer units at the site, sources said.

"Startup will be executed following standard operating procedures to minimize flare emissions," the company said in its August 27 filing. "Based on information from previous startups, a methanol unit startup can take up to 10 days."

Market participants had started to suggest the Clear Lake facility may have come back online as late as last week, sources said. Company comment was not available at that time.

As MRC informed before, Celanese Corporation, a global technology and specialty materials company, has increased list and off-list selling prices for Vinyl Acetate Monomer (VAM) in the Americas. The price increases below was effective October 1, 2017 or as contracts otherwise allow. Thus, VAM prices were raised, as follows:

- by USD200/mt - for South America;
- by USD0.12/lb - for USA and Canada.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,300 employees worldwide and had 2016 net sales of USD5.4 billion.

Mitsui Chemicals is a leading manufacturer and supplier of value added specialty chemicals, plastics and materials for the automotive, healthcare, packaging, agricultural, building, and semiconductor and electronics markets. Mitsui Chemicals is a Japanese Chemicals company, a part of the Mitsui conglomerate. The company has a turnover of around 15 billion USD and has business interests in Japan, Europe, China, Southeast Asia and the USA. The company mainly deals in performance materials, petro and basic chemicals and functional polymeric materials.
MRC