LDPE unit brought on-stream by Sinopec Shanghai

MOSCOW (MRC) -- Sinopec Shanghai Petrochemical has restarted its low density polyethylene (LDPE) unit in Shanghai, as per Apic-online.

A Polymerupdate source in China informed that the company has resumed operations at the unit on March 26, 2018 following a turnaround. The unit was shut for maintenance on February 26, 2018.

Located at Shanghai in China, the LDPE unit has a production capacity of 100,000 mt/year.

As MRC informed before, on 2 January, 2018, Sinopec Shanghai Petrochemical took off-stream a high density polyethylene (HDPE) plant owing to technical issues. Further details of duration of shutdown could not be ascertained. Located at Shanghai in China, the plant has a production capacity of 250,000 mt/year.

China Petroleum & Chemical Corporation, or Sinopec Limited is a Chinese oil and gas company based in Beijing, China. It is listed in Hong Kong and also trades in Shanghai and New York . Sinopec is the worlds fifth biggest company by revenue.
MRC

MOSCOW (MRC) - Imports of suspension polyvinyl chloride (SPVC) into Ukraine decreased by 3% in the first two months of this year, compared to the same period in 2017 and reached about 13,700 tonnes, according to MRC DataScope.

February imports of SPVC in Ukraine exceeded 8,000 tonnes despite low season, compared with 5,700 tonnes in January. Local companies significantly increased imports of North American PVC. Total SPVC imports into the country were about 13,700 tonnes in January - February 2018, compared with 14,100 tonnes in the same time a year earlier.

Structure of PVC imports into Ukraine over the reported period was as follows.

Last month's SPVC imports from the USA exceeded 6,000 tonnes, compared to 1,300 tonnes in January. Export prices of US PVC were at a minimum level in November and early December, and Ukrainian companies actively contracted North American PVC.

Imports of North American resin totalled 8,700 tonnes in the first two months of 2018 versus 2,700 tonnes a year earlier. February imports of European PVC into Ukraine decreased to 1,200 tonnes, compared with 2,600 tonnes in January. Such a low level of imports was a result of the high level of export prices in Europe. Total imports of European PVC into Ukraine were about 3,800 tonnes in the first two months of the year, compared with 8,600 tonnes year on year.

Imports of Russian PVC increased in February to 745 tonnes from 383 tonnes in January. Ukrainian government has banned the import of PVC from Russia since 1 March, which will be in effect until the end of the year. Shipments of Russian resin were about 1,100 tonnes in the first two months of 2018, compared to 2,800 tonnes a year earlier.

MRC

MOSCOW (MRC) - Production of polyethylene (PE) in Russia increased to 308,600 tonne in first two months of this year, up 4% year on year, compared to the same period of 2017. The largest increase in PP production was recorded in linear low density polyethylene (LLDPE) sector, according to MRC ScanPlast.

February PE production in Russia decreased to 146,700 tonnes, whereas this figure was about 161,800 tonnes a month earlier. The low production figures was a result of solely to the calendar factor. Overall PE output reached 308,600 tonnes in January-February 2018, compared to 295,300 tonnes a year earlier. Output of low density polyethylene (LDPE) and LLDPE increased increased, whereas HDPE production remained at the level of 2017.

Structure of PE production over the reported period looked as follows.
Russia's February HDPE production decreased to 73,500 tonnes from 81,100 tonnes a month earlier. In general, total volume of HDPE output by Russian plants reached 154,600 tonnes in January-February, which almost the same as last year.

February imports of LDPE was 56,400 tonnes, compared with 62,100 tonnes in January. Overall LDPE production exceeded 118,500 tonnes over the stated period, up by 1% year on year.

Nizhnekamskneftekhim has kept a quite high level of capacity utilisation since the beginning of the year, in February the production of linear polyethylene at Nizhnekamskneftekhim reached 16,800 tonnes against 18,600 tonnes. Production of LLDPE in Russia exceeded 35,400 tonnes in the first two months of this year, while a year earlier this figure did not exceed 23,300 tonnes.

MRC

MOSCOW (MRC) -- Plaskolite, LLC, North America’s largest manufacturer of acrylic sheet products, has announced that it is acquiring the North American polycarbonate sheet manufacturing business of Covestro, a global leader in high-tech polymer materials, as per Plaskolite's press release.

The acquisition transforms the North American sheet industry by combining the leader in acrylic manufacturing and the leader in polycarbonate manufacturing.

As a part of the transaction, Plaskolite is acquiring sheet headquarters, production sites and warehouse facilities in Sheffield, Massachusetts and will maintain the existing third-party distribution warehouse facility in Hebron, Ohio. With this acquisition, Plaskolite will employ 950 people.

The closing is expected to be completed August 1, 2018.

Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is the largest North American manufacturer of see-through thermoplastic sheet products. Plaskolite’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers.

"This acquisition is transformational for Plaskolite and strengthens our industry leadership position," said Mitchell Grindley, Plaskolite’s President and CEO. "It broadens our offering and further strengthens our partnerships. Plaskolite will be the only manufacturer ever to offer a complete clear sheet product portfolio, including Acrylic, Polycarbonate, PETG and ABS, which is a benefit to customers who can now turn to one source for all their sheet needs."

This will be the second business that Plaskolite has acquired from Covestro. In 2012, Plaskolite purchased its North American Vivak line of PETG sheet. Covestro corporate headquarters are in Leverkusen, Germany.

This announcement follows Plaskolite’s February 12, 2018 announcement of its acquisition of the Continuous Cast Acrylic Sheet Business of Lucite International, Inc., which broadened its acrylic sheet offering and provided an entree into the spa and bath sheet business.

As MRC reported earlier, on 1 September, 2015, Bayer MaterialScience became known as Covestro. Bayer aims to float this business on the stock market by mid-2016 at the latest. The plans for the carve-out of Bayer MaterialScience were announced in September 2014.

Covestro (formerly Bayer MaterialScience) is an independent subgroup within Bayer. It was created as part of the restructuring of Bayer AG from the former business group Bayer Polymers, with certain of its activities being spun off to Lanxess AG. Covestro manufactures and develops materials such as coatings, adhesives and sealants, polycarbonates (CDs, DVDs), polyurethanes (automotive seating, insulation for refrigerating appliances) etc.

Founded in 1950 in Columbus, Ohio, by Donald G. Dunn and family, Plaskolite, LLC is the largest privately owned North American manufacturer of see-through thermoplastic sheet products. Plaskolite’s customized products are used in a wide variety of applications, including windows, doors, lighting, signs, point-of-purchase displays and bath products. Plaskolite serves a diverse customer base including distributors, OEMs and retailers. In 2015, Charlesbank Capital Partners became the first outside equity investor in Plaskolite.
MRC

MOSCOW (MRC) -- Reliance Industries Ltd (RIL) has said its subsidiary Reliance Eagleford Upstream Holding LP will sell certain assets in Eagle Ford shale to Sundance Energy Inc for a consideration of USD 100 million (over Rs 650 crore), as per The Times of India.

Reliance Eagleford Upstream Holding LP is a subsidiary of both Reliance Holding USA, Inc and Reliance Industries Ltd.

Reliance Eagleford Upstream Holding LP has signed a purchase and sale agreement with Sundance Energy Inc to divest its interest in certain acreage, producing wells and related assets in the western portion of its Eagle Ford shale position for approximate consideration of USD 100 million, it said in a statement.

The assets being sold are located in Atascosa, La Salle, Live Oak and McMullen Counties, Texas.

Reliance continues to retain its interest in the remaining Eagle Ford assets that are core to its development priorities, the company said.

The deal is subject to certain customary adjustments and closing terms and conditions.

The sale is expected to close in the first quarter of FY2018-19.

RIL said the "transaction is in conjunction with sales made by Pioneer Natural Resources USA Inc and Newpek LLC, the other working interest owners in the Joint Development with Reliance".

As MRC informed before, in February 2016, RIL was awarded a contract worth Rs. 100 crore to Petron Engineering Construction Ltd for its linear low density polyethylene (LLDPE) plant in Gujarat. The LLDPE plant is part of RIL's J-3 project in Jamnagar in the western Indian state of Gujarat. The J-3 project boasts of a petroleum refinery and allied petrochemical plants for the production of plastics and fibre intermediates.

Reliance Industries is one of the world's largest producers of polymers. Thus, the company produces among others polypropylene, polyethylene and polyvinyl chloride.
MRC