Davis-Standard unveils new global brand

MOSCOW (MRC) -- Extrusion machinery maker Davis-Standard LCC used the NPE2018 trade show as the forum to unveil what it calls "the next evolution" of its global brand, as per Canplastics.

"The new identity and messaging strategy is designed to better express [our] customer-centric and forward-looking business approach, and also to provide customers and prospects with a more unified and compelling visual experience when interacting with Davis-Standard marketing and web resources," the Pawcatuck, Conn.-based company said in a statement.

The previous Davis-Standard brand dates back to the 1950s-60s, when Ben Davis joined Standard Machinery Co. to create the Davis-Standard name. The original company, Reliance Machinery Co., was founded in 1848 and manufactured cotton gins and paper binding machines. Extrusion was developed in the 1950s.

"We previously branded ourselves as ‘The Global Advantage,’ and we’ve executed that by expanding our global facilities and capabilities over the years. But now the focus is now more squarely on helping our customers execute, to better understand their requirements, to build stronger relationships and trust, and to provide the best total solutions," Davis-Standard president and CEO Jim Murphy said. "We felt our brand wasn’t fully reflective of our standing in the industry; we now have a brand that better speaks to our leadership. We have been on an upward trajectory and now is the time for our brand to embody what we have become, and still intend to become."

The company’s new tag line – "Where Your Ideas Take Shape" – is what Murphy describes as the brand’s exclamation point. "It reflects our intent to help customers create a better future, doing it with collaboration and teamwork,” he said. "We need to do this with each other within Davis-Standard and in partnership with our customers."

The brand refresh includes a new logo – the first logo update in nearly 50 years – and a brighter image. It also includes an updated brand story and a new website.
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MOSCOW (MRC) -- Enterprise Products Partners LP (EPP), Houston, has entered the first of three cryogenic natural gas processing plants at its operations in Reeves County, Tex., near Orla, as per Ogj.

The 300-MMcfd Orla 1 train, which is also equipped to extract more than 40,000-b/d of NGLs, began commercial operations as of May 2, EPP said. Alongside commissioning of Orla 1, the partnership also entered into service about 70 miles of high-pressure residue gas pipeline connecting the plant to its existing intrastate gas pipeline system and a 30-mile extension of its NGL system to provide producers with takeaway capacity and direct access to EPP’s integrated network of NGL assets.

Startup of the Orla 1 train will be followed by commissioning of the Orla 2 train in fourth-quarter 2018 and the Orla 3 processing train in 2019, the operator said. Once completed, the three trains will be able to process up to 1 bcfd of gas and have the capacity to produce 150,000 b/d of NGLs.

"The start of operations at our Orla natural gas processing complex will facilitate continued growth of natural gas and NGL production in the Permian basin, which is expected to double over the next 4 years," said A.J. Teague, chief executive officer of EPP’s general partner.

Completion of the three trains at Orla, along with EPP’s existing assets, will increase the operator’s Permian processing capacity to 1.5 bcfd, and when combined with EPP’s extensive integrated midstream network that includes its NGL fractionation and storage complex in Mont Belvieu, Tex., Orla will support Delaware basin producers with flow assurance and access to expanding domestic and international markets, Teague said.
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MOSCOW (MRC) – The Abu Dhabi National Oil Company (ADNOC) today unveiled plans to invest AED 165 billion (USD45 billion) alongside partners, over the next five years, to become a leading global downstream player, enabling it to further stretch the value of every barrel it produces to the benefit of ADNOC, its partners and the UAE, as per Hydrocarbonprocessing.

The plans were unveiled at the ADNOC Downstream Investment Forum, which took place today in Abu Dhabi, UAE. The unprecedented investment program will underpin a new downstream strategy to significantly expand ADNOC’s refining and petrochemical operations at Ruwais in the UAE, and undertake highly targeted overseas investments to secure greater market access.

Building on the existing strengths and competitive advantages of the Ruwais Industrial Complex, ADNOC will create the world’s largest and most advanced integrated refining and petrochemicals complex. Through a combined program of strategic partnerships and investment, ADNOC will increase its range and volume of high-value downstream products, secure better access to growth markets around the world and create a manufacturing ecosystem in Ruwais that will significantly stimulate In-Country Value creation, private sector growth and employment. The strategy is expected to add more than 15,000 jobs by 2025 and contribute an additional 1% to GDP per year.

H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said: "Given the projected increase in demand for petrochemicals and higher value refined products, we are repositioning ADNOC to become a leading global downstream player. We will invest significantly in Ruwais and open up attractive partnership and co-investment opportunities along our extended value chain to create a powerful new downstream engine and springboard for growth that will benefit our country, our company and our partners."

"Importantly, the expansion plans for Ruwais will also support Abu Dhabi and the UAE’s economic development and diversification, create high-skilled jobs and enhance the country’s status as a globally attractive destination for energy investments", he added.

ADNOC’s downstream investment plans are in line with its 2030 strategy of a more profitable upstream, more valuable downstream and sustainable, economic gas supply, underpinned by more proactive and adaptive marketing and trading. Building on its legacy of success, ADNOC has undertaken a significant group transformation program over the last two years. The business has improved operational efficiency, enhanced performance and realigned the management of its portfolio of assets and capital to create a new and expanded partnership and investment model.

ADNOC is now accelerating this transformation by unveiling its plans to become a leading global downstream player. The new strategy will be supported by ADNOC’s 45 year plus legacy of a unique and open approach to partnerships, built on the UAE’s bedrock values, reliability and attractiveness. ADNOC will again look to create long term downstream partnerships, providing access to the most attractive parts of the energy value chain, to redefine ADNOC’s future growth.
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MOSCOW (MRC) -- Bangkok-based petrochemical producer Indorama Ventures has agreed to buy a 65.72 percent stake in Israel’s Avgol Industries for about USD314 million, said Reuters.

Indorama will pay 5.78 shekels per share for a 50.76 percent in Avgol held by HFH International, and 14.96 percent owned by Leumi Partners, a subsidiary of Bank Leumi.

Bank Leumi said it expects a pre-tax gain of 118 million shekels (USD33 million) from the sale.

The Transaction is considered an acquisition of assets in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/2551, Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets (as amended), and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposition of Assets B.E. 2547 (2004) (as amended) (collectively referred to as the "Acquisition or Disposal Notification"). According to the Acquisition or Disposal Notification, the Company needs to calculate its transaction size percentage by considering four criteria. The total transaction size of the Transaction calculated based on the total value of consideration criterion, which gives the highest transaction value, and after computation with the transaction size of the Company's other acquisition transactions within the past 6 months, is equivalent to 16.65 percent that based on the value of total assets in consolidated financial statement ended December 31st, 2017. This 16.65 percent transaction size falls in between 15 - 50 percent which shall be determined as Class 2 transaction under the Acquisition or Disposal Notification.
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MOSCOW (MRC) -- Leading polymer producer Borealis will focus on advancing major global growth projects throughout 2018, CEO Mark Garrett said, as per Apic-online.

Speaking to S&P Global Platts, Garrett highlighted Borealis and Nova Chemicals joint venture with Total on the US Gulf, which includes the construction of an ethane steam cracker in Port Arthur, as one such major global growth project.

Investment plans for a new propane dehydrogenation (PDH) unit at Kallo, Belgium, at the company's existing site near Antwerp, will also be a major focus of attention in 2018.

Garrett previously said a final investment decision on the PDH unit would be made in September.

"Then we have the Borouge 4 project in the UAE, which is a little bit further away from the final investment decision than the other two," Garrett said.

Borealis' joint development agreement with United Chemical Company for the creation of a polyethylene project with an integrated ethane cracker in Kazakhstan, is the fourth major project Borealis is working on.

"We have these four really big, significant (projects). We have other projects as well, but these are all the sort of multi-billion dollar megaprojects," Garrett said.

As MRC informed earlier, in April 2016, Borealis AG and PAO Gazprom, the world's gas major, signed a Memorandum of Understanding. The document reflects the parties' interest in evaluating opportunities to develop joint gas chemical projects in Russia.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries.
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