China levies anti-dumping duties on Korean styrene monomer imports

MOSCOW (MRC) -- The Chinese government imposed anti-dumping duties on imports of styrene monomer (SM) from South Korea, the United States and Taiwan in its preliminary ruling amid escalating tensions between China and the U.S. in the trade sector, reported Pulse.

The China’s Ministry of Commerce on Tuesday slapped a preliminary anti-dumping duty rate of 7.8 percent to 8.4 percent on styrene monomer imports from Korea, 9.2 percent to 10.7 percent on U.S. products and 5 percent on Taiwanese products, saying that the styrene imports selling below normal prices have hurt domestic industry.

Styrene monomer is a raw material widely used to make polystyrene, synthetic rubber, plastic and ion exchange resin. Korea is the largest styrene monomer exporter to China. Korean companies including Hanwha Total Petrochemical Co. and Lotte Chemical Corp. shipped the products worth USD1.3 billion to China in 2016, commanding a 35 percent share among exporters of the item to China.

The latest move by Chinese authorities follows the U.S.’s decision last month to take safeguard actions imposing hefty tariffs on imported washers and solar panels from China and Korea, raising speculation that Beijing has taken steps to take retaliatory actions against the U.S. amid escalating trade war between the world’s two largest economies.

An official from the trade ministry said that Korean authorities have worked hard to protest against the charge, and added that the preliminary measure could be both good and bad for Korean exporters as Korean products were levied lower rate than the U.S. imports but higher than the Taiwanese products.
MRC

MOSCOW (MRC) -- CB&I announced it has been awarded a contract valued in excess of USD95 million by Samsung Engineering (Thailand) Co. Ltd. for a brownfield ethylene plant at PTT Global Chemical's (PTTGC) petrochemicals complex in Map Ta Phut, Rayong, Thailand, as per Hydrocarbonprocessing.

CB&I's scope of work includes the license and basic engineering of the ethylene plant and pyrolysis gasoline hydrogenation unit. It also includes detailed engineering and material supply of SRT® (Short Residence Time) pyrolysis heaters. The plant will use CB&I's latest generation ethylene technology for the production of polymer grade ethylene, propylene and other byproducts, with a nameplate capacity of 500,000 metric tons per year of ethylene and 250,000 metric tons per year of propylene.

"CB&I looks forward to providing the technology license and heater supply to this ethylene plant in Thailand," said Daniel M. McCarthy, CB&I's Executive Vice President of Technology. "This award is the third CB&I licensed ethylene plant for PTTGC and further expands our presence in Asia."
MRC

MOSCOW (MRC) -- Italian injection moulding machinery maker Negri Bossi SpA plans to invest USD5m (EUR4m) to expand capacity in India to meet increasing demand both in the country and in regional Asian and African markets, as per Plasticsnewseurope.

The Milan-headquartered company said it plans to make a wider range of moulding presses at its plant in Ahmedabad and increase its localization of components.

"An investment of USD5 million is planned for the India plant in the next three to five years, to hike capacity from 70 machines to more than 100 presses annually," said Tommaso Giusti, operations manager of Negri Bossi India.

He was interviewed at Plastindia 2018, held from 7-12 Feb, in Gandhinagar. The Ahmedabad plant, which started in early 2014, is an assembly operation with many critical components shipped from Italy. The company said it has about 50 vendors locally.

"We are also looking at increasing local sourcing for the machines assembled in India," Giusti said.

Negri Bossi India manufactures servo-driven machines starting from 70 tons up to 900 tonnes, with larger machines sourced from Italy. The company also has factories in the Czech Republic and China.
MRC

MOSCOW (MRC) -- Royal DSM, a global science-based company active in health, nutrition and materials, has announced that significant and continuing cost increases of main raw materials throughout 2017 and early 2018 have caused DSM Engineering Plastics to increase prices globally for several polyamide and thermoplastic polyester products, effective April 1 or as contracts allow, as per the company's press release.

The price increases are as follows:

- Akulon polyamide (nylon) 6 and 66 products will increase by the equivalent of EUR175 per metric ton
- Arnite polybutylene terephthalate (PBT) products will increase by the equivalent of EUR175 per metric ton
- Stanyl polyamide 46 products will increase by the equivalent of EUR350 per metric ton
- Arnitel co-polyester elastomer (COPE) products will increase by the equivalent of EUR225 per metric ton.

As MRC informed before, in November 2017, Royal DSM announced a new approach for its additive manufacturing (AM) activities. By aligning all its AM activities within the Materials cluster and promoting a partnership approach, DSM can provide customers an open and flexible infrastructure. This will help customers to find exactly the right materials and production systems for their applications.

Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.
MRC

MOSCOW (MRC) -- LyondellBasell (LBI), one of the largest plastics, chemicals and refining companies in the world, and A. Schulman, Inc. a leading global supplier of high-performance plastic compounds, composites and powders, has announced that they have entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of USD2.25 billion, as per LBI's press release.

The acquisition builds upon LyondellBasell's existing platform in this space to create a premier Advanced Polymer Solutions business with broad geographic reach, leading technologies and a diverse product portfolio.

"The acquisition of A. Schulman is a natural extension of our current platform. This combination will allow us to provide our customers with a wider range of innovative solutions while adding the ability to serve high-growth end markets beyond the automotive sector, such as packaging and consumer products, electronics and appliances, building and construction, and agriculture," said Bob Patel, Chief Executive Officer of LyondellBasell. "By leveraging our proven approach to operational, commercial and business excellence, the combined business will create significant value for our shareholders and customers."

"This transaction, which provides our shareholders with a compelling, immediate cash premium, represents the culmination of a robust assessment of strategic alternatives undertaken by our Board of Directors," said Joseph M. Gingo, Chairman, President and Chief Executive Officer of A. Schulman, Inc. "We are delighted to join forces with LyondellBasell, an industry leader we have admired for many years. LyondellBasell not only shares our commitment to meeting customers' demanding requirements, but with its scale and resources, the combined business will be better positioned to address a broader range of customer needs by integrating across applications and offering customers a wider range of solutions in attractive and growing markets. We also expect this combination to create significant opportunities for A. Schulman employees, whose professionalism and expertise will be integral to advancing LyondellBasell's vision, values and commitment to making a positive global impact."

The proposed acquisition, which has been unanimously approved by the respective boards of LyondellBasell and A. Schulman, is subject to customary closing conditions, including regulatory approvals and approval by A. Schulman shareholders. The acquisition is expected to close in the second half of 2018.

As MRC reported earlier, in August 2016, LyondellBasell made the final investment decision to build a high density polyethylene (HDPE) plant on the US Gulf Coast. The plant will have an annual capacity of 1.1 billion pounds (500,000 metric tons) and will be the first commercial plant to employ LyondellBasell's new proprietary Hyperzone PE technology. The start-up of the new plant is scheduled for 2019.

LyondellBasell is one of the world's largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell manufactures products at 55 sites in 17 countries. LyondellBasell is also a leading licensor of polypropylene and polyethylene technologies. The more than 250 polyolefin process licenses granted by LyondellBasell are twice that of any other polyolefin technology licensor.

A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. Since 1928, the Company has been providing innovative solutions to meet its customers’ demanding requirements. The Company’s customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The Company employs approximately 4,800 people and has 54 manufacturing facilities globally. A. Schulman reported net sales of approximately USD2.5 billion for the fiscal year ended August 31, 2016.
MRC