FREP took off-stream PP plants in China

MOSCOW (MRC) -- Fujian Refining & Petrochemical (FREP) has undertaken a planned shutdown at its polypropylene (PP) plant in Fujian Province, as per Apic-online.

A Polymerupdate source in China informed that the company has halted operations at the plant on April 23, 2018 for turnaround. The plant was likely to remain off-line for around 7-8 days.

Located in Fujian province, China, the PP plant has a production capacity of 220,000 mt/year.

As MRC informed before, in H2 March 2016, FREP restarted its polypropylene (PP) and polyethylene (PE) units following an unplanned shutdown. They were shut on March 15, 2016 owing to a technical glitch at its upstream cracker. Located in Fujian province, China, the two PE units have a production capacity of 500,000 mt/year each while the two PP units have a production capacity of 330,000 mt/year and 220,000 mt/year.
MRC

Bayer concludes process to sell Covestro

MOSCOW (MRC) -- Bayer Group sold 28.81 million shares representing a 14.2 percent interest in Covestro at a price of 75.50 euros per share, as per the company's press release.

The proceeds of this sale totaled 2.2 billion euros. Bayer AG now holds just 6.8 percent of Covestro shares to repay the exchangeable bond that matures in 2020. Bayer AG acquired these shares from Bayer Pension Trust, which now no longer holds any Covestro shares.

"We very successfully concluded the selling process for this largest placement of Covestro shares,” said Werner Baumann, Chairman of the Board of Management of Bayer AG. Covestro has been listed on the stock exchange since October 6, 2015, and was promoted to Germany’s lead index DAX a few weeks ago. Through the sale of Covestro shares since the IPO, Bayer has generated proceeds of more than 9 billion euros. The exchangeable bond issued in June last year raised an additional one billion euros. “This is a very pleasing result, which we achieved faster than anticipated,” explained Johannes Dietsch, Chief Financial Officer of Bayer AG. “Moreover, the proceeds from the sale are higher than expected. This will be considered when determining the size of the share capital increase to finance the proposed acquisition of Monsanto."

The share placement took place on Thursday evening after market close and was aimed exclusively at institutional investors. BofA Merrill Lynch and J.P. Morgan acted as joint bookrunners.

Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2017, the Group employed around 99,800 people and had sales of 35.0 billion euros. Capital expenditures amounted to 2.4 billion euros, R&D expenses to 4.5 billion euros.
MRC

Total and Polystyvert join forces on the recycling of household post-consumer polystyrene

MOSCOW (MRC) -- The Polymers Business unit of Total S.A. (Total) and Polystyvert, a Montreal-based clean technology startup with an innovative method for polystyrene recycling, today announced the signing of an agreement to work together on the dissolution and purification of household post-consumer polystyrene, as per the company's press release.

The combination of Polystyvert’s innovative technology and Total’s know-how in industrial-scale dissolution and polymerization technologies should generate high-quality recyclates addressing a broad range of polystyrene market requirements.

Polystyvert has developed an innovative low-carbon-footprint method for recycling polystyrene that is based on a dissolution process. This process produces recyclates which can be used in a broader range of market applications than recyclates produced through mechanical recycling methods. Household post-consumer plastics such as polystyrene often contain contaminants that make mechanical recycling difficult or not practical.

"We are very pleased to collaborate with Polystyvert on this ambitious and exciting journey," said Jean Viallefont, VP Polymers Europe, Total Refining & Chemicals. “In 2017, Total performed three successful test runs with post-consumer recyclates incorporated in virgin polymer via dissolution and polymerization. Working with Polystyvert to tackle household post-consumer waste is the next logical step for Total."

"’We are excited to join forces with Total on the recycling of polystyrene," stated Solenne Brouard, Founder and CEO, Polystyvert Inc. “Collaborating with Total on household waste will accelerate the industrial development of our technology for global markets and demonstrate its suitability to address any type of polystyrene stream."
MRC

Shell Lubricants and Hyundai complete a decade of partnership in India

MOSCOW (MRC) -- Shell Lubricants, the global market share leader in finished lubricants, and Hyundai Motor India Limited (HMIL), the country's second-largest car manufacturer, recently announced 10 years of their partnership in India, as per Hydrocarbonprocessing.

The partnership stands as a testament to Shell's commitment of delivering excellence by continuing to focus on providing the best and cleanest products and solutions to customers. The synthetic technology used by Shell Lubricants helps achieve higher performance levels than the mineral lubricants.

Ms. Mansi Madan Tripathy, Country Head, Shell Lubricants India Cluster, said, "Shell Lubricants has been working with Hyundai since 2008 to deliver premium quality products and services to partners and customers. Our shared values of customer centricity and a strong focus on growth has helped us progress together in the last 10 years. This partnership has only expanded over time, and we look forward to another decade of industry-leading collaboration. Not only has our partnership stood the test of time, but truly redefines exemplary customer service and pioneering global best practices."

Mr. Y.K. Koo, Managing Director, HMIL, added, "Hyundai and Shell have progressed together for the last 10 years in the true spirit of partnership through collaboration and innovation with a common goal to maximize customer satisfaction. Hyundai's long-term vision is to be the customers' lifetime partner in automobile and beyond. By leveraging the strengths of the two global brands, we aspire to offer outstanding aftersales experiences to Hyundai customers and look forward to fostering this strong and trusted association in future."

The two organizations announced the extension of their contract for another 3 years during which they will continue to collaborate to improve both the driving as well as the servicing experiences for customers and their Hyundai cars. On this occasion, Shell Lubricants and Hyundai launched the Shell Helix HX7 AH - a synthetic technology motor oil - for the Franchise workshop network. Shell Helix HX7 promises to help keep Hyundai engines clean and efficient, preventing the formation of sludge and engine deposits. It also enhances fuel efficiency and helps engines to deliver better performance.
MRC

Agilyx Corporation and INEOS Styrolution sign MOU to advance the circularity of polystyrene

MOSCOW (MRC) -- Agilyx Corporation and INEOS Styrolution have signed a memorandum of understanding (MOU) for deploying Agilyx’s de-polymerisation technology at or near to an INEOS Styrolution facility in North America, as per INEOS Styrolution's press release.

The aim is to convert post-consumer polystyrene (PS) waste into styrene monomer (SM) that can be used to re-manufacture new PS products.

The cooperation objectives defined in the MOU between Agilyx Corporation and INEOS Styrolution are the natural next step to set up a chemical recycling infrastructure and establish a circular economy for PS.

Agilyx opened its first commercial waste polystyrene-to-styrene oil chemical recycling plant on April 19, 2018. The plant recycles up to 10 tons per day of previously unrecoverable polystyrene waste to produce high-quality styrenic polymers.

INEOS Styrolution is committed to driving the advancement of the de-polymerisation technology. Together with several research institutions, the company is working on a technical feasibility study and is aiming at the development of a holistic recycling concept in collaboration with waste management companies.

Both companies are committed to drive the "chemical recycling" technology forward, which is based on the de-polymerisation of post-consumer polystyrene waste. This technology aims at achieving virgin, high-quality polystyrene ultimately suitable for food-contact applications and medical applications.

"We are very excited to expand our partnership with INEOS Styrolution focused on creating a true circular pathway for polystyrene using our existing chemical recycling platform," says Joe Vaillancourt, CEO of Agilyx. "This collaboration not only looks to support deployment of a new chemical recycling application, but it also helps create a new innovative supply chain that bridges both the plastics and waste management industries. This combination creates a new circular economy reality for polystyrene."

Agilyx is a comprehensive environmental solutions company located in Tigard, Oregon that extracts value from waste plastic streams. The company was founded on developing hydrocarbon recycling technologies that convert mixed plastics to high quality crude oil. It has since expanded its technology platform by developing the first circular chemical recycling system capable of converting waste polystyrene (packaging materials and consumer products, etc.) into styrene monomer, which is then used to remake PS products.

INEOS Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 85 years of experience, INEOS Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including Automotive, Electronics, Household, Construction, Healthcare, Packaging and Toys/ Sports/ Leisure. In 2017, sales were at 5.3 billion euros. INEOS Styrolution employs approximately 3,300 people and operates 16 production sites in nine countries.
MRC