Toray to establish resin compound facility in India

MOSCOW (MRC) -- Toray Industries, Inc.announced that it has decided to establish a production facility for nylon and PBT resin compounds at its Indian subsidiary Toray Industries (India) Private Limited (TID), as per the company's press release.

The resins, with their superior heat and chemical resistance properties and mechanical strength, are used in electrical components of automobiles and in electrical and electronic connectors. The facility, with an annual production capacity of 5,000 tons, will be set up at TID’s base in Sri City in Andhra Pradesh State and the company is aiming to start operations of the plant from September 2019. India’s economy is expected to grow at a high annual rate of 6% from 2016 through 2030 and is a promising market. Demand for premium goods and value-added goods such as automobiles and home electronic devices is expanding on the back of rising income levels.

Especially, the automobile market is expected to have a high annual growth rate of 7% towards 2025, and demand is expected to grow for engineering plastics for automobile applications. In particular, with the recent trends in strengthening of environmental regulations, the customer requirements have become increasingly sophisticated primarily in automobile applications and it is safe to say that the demand for highly functional materials, which Toray specializes in, will increase. The establishment of the new facility is in response to the above trends and is aimed at offering stable supply and shorter lead time through local production and at strengthening the development capability on-site and the functions of storage and delivery.

"India is a region where we can expect the market to grow. The establishment of the new facility this time is the first such base in India for Toray’s resin business, and we’re quite excited about it. We would like to capture this rapidly growing market without fail and strongly pursue business expansion,” said Takashi Endo, who is general manager, Resins Division. Going forward, Toray plans to make the TID business base in Sri City not only to cater to the demand inside India but also as a base for its global operations targeting South Asia. Toray will continue to enhance its overseas bases and strongly pursue global business expansion through further strengthening of organic collaborations with them.
MRC

MOSCOW (MRC) -- PKN Orlen S.A. announced the final terms and conditions of issue of Series D bonds within the bond issue programme directed to the individual investors, included in the prospectus approved by the Polish Financial Supervision Authority on 20 July 2017, as per 4-traders.

According to the latest published unconsolidated financial statement for the first quarter 2018, the total value of Company's liabilities amounts to PLN 22 538 m.

The outlook of the liabilities until the complete redemption of the bonds should be assessed on the basis of the information provided by PKN Orlen as a public company according to the procedure and the rules set out in the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies of 29 July 2005 and on the basis of the content of information documents to be published in connection with the issue of bonds.

The final terms and conditions of the offer and the final terms and conditions of the issue of Series D bonds in Polish language version are attached hereto regulatory announcement.
MRC

MOSCOW (MRC) - June contract price of propylene in Europe was agreed up EUR80/tonne from the level of May, as a result, European producers proportionally raised export prices for certain types of polypropylene for supplies to CIS markets in June, according to the ICIS-MRC Price Report.

In some cases, however, PP prices were increased by EUR90/tonne in comparison with the level of May.
Negotiations on June European PP prices began this week, and most likely all deals will be agreed by the end of the week.

All market participants reported an increase in the June export prices for propylene polymers from all producers, with the highest price increase seen in the segment of homopolymer PP (up by EUR70-90/tonne compared to the level of May).

Deals on June homopolymer PP were discussed in the range of EUR1190-1245/tonne FCA, while the deals for May shipment were agreed in the range of EUR1120-1155/tonne FCA. Some producers have been keeping export restrictions for the third consecutive month for injection moulding homopolymer PP.

Deals for PP block copolymers were discussed in the range of EUR1250-1300/tonne FCA, up EUR40-50/tonne from the May level.
MRC

MOSCOW (MRC) -- US technology and chemical company W.R. Grace has licensed its Unipol PP process for Inter Pipeline’s Heartland petrochemical complex in Alberta, Canada, as per Chemanager-online.

Inter Pipeline is building the country’s first integrated propane dehydrogenation (PDH) and PP complex, which will convert locally sourced, low-cost propane into 525,000 t/y of PP. The complex, to cost roughly USD3.5 billion, will be located in Strathcona County, near Inter Pipeline’s existing Redwater olefinic fractionator.

Propane feedstock will be sourced from the Redwater fractionator as well as several other third-party fractionators in the region. Detailed engineering for the PDH plant was awarded to Fluor Corp. in 2013 and construction of this unit started in February.

Germany’s Linde Engineering was awarded in 2017 the front end engineering design (FEED) contract for the PP plant, and construction on this facility is scheduled to begin in the second half of 2018.Completion of the complex is scheduled for late 2021.

According to Grace, Unipol is the simplest of all PP processes,with no moving parts inside the reactor and less equipment than alternative technologies, resulting in lower capital, operating and maintenance costs.

David Chappell, senior vice president of petrochemical development at Inter Pipeline, said the technology provides tremendous flexibility to quickly and cost effectively meet customers’ requirements.

W.R. Grace granted a Unipol license last July for another PP plant being built in Canada by Canada Kuwait Petrochemical Corp, a 50:50 joint venture between Pembina Pipeline and Kuwait’s Petrochemical Industries Company. The PDH/PP integrated facility will be built in Sturgeon County, Alberta and produce 550,000 t/y of PP resins.?
MRC

MOSCOW (MRC) – Honeywell announced a software solution to provide cybersecurity to industrial customers who manage diverse process control networks, sites and vendors, as per Hydrocarbonprocessing.

As customers continue their digital transformation and their industrial sites become more connected, integrating cybersecurity has become even more critical.

The multi-site solution for cybersecurity management is based on Honeywell’s ICS Shield™, which provides a top-down operational technology (OT) security management solution for securing connected industrial control system (ICS) environments with multiple physical sites and multiple automation equipment types. It also enables secure management of remote field assets through a single security operations center. Honeywell integrated and enhanced ICS Shield technology following its acquisition of Nextnine in 2017, and the solution has become the ICS cybersecurity platform of choice with more than 1 million industrial nodes managed globally.

"With industrial companies connecting operations worldwide to drive greater efficiencies, there’s a real need for multi-site cybersecurity technologies designed for ICS environments," said Jeff Zindel, vice president and general manager of Honeywell Industrial Cybersecurity. "As a trusted partner to critical infrastructure providers for more than 50 years, Honeywell offers an industry-proven solution for enterprise-wide cybersecurity with a secure, vendor-agnostic approach that strengthens industrial cybersecurity defenses and lowers operational risks."

For companies facing internal cybersecurity skills and resource shortages, Honeywell Managed Security Services can help install, configure, and continually manage ICS Shield, allowing customers to focus on running their operations. Servicing more than 400 customers worldwide, Managed Security Services provide secure remote access, automated patching, continuous monitoring and incident response along with firewall and intrusion detection system management capabilities. These services expedite the ability of industrial companies to close major security gaps, and unlike pure IT solutions, ensure that industrial security experts carefully balance manufacturing and production priorities with security requirements. In addition, knowledge transfer from Honeywell experts improves customers’ cybersecurity capabilities in the long term.
MRC