Finland to reduce stake in oil refiner Neste

MOSCOW (MRC) -- Finland said it would sell 12.8 million shares in oil refiner Neste, representing about 5 percent of the company, as per Reuters.

After completion of the sale, Finland's holding in Neste will fall to 44.7 percent from 49.7 percent, the Finnish state said in a statement.

The oil refiner's shares will be offered to Finnish and international institutional investors via an accelerated bookbuild, the statement said.

The Finnish state said it would declare results of the share sale around June 13.

Earlier in the year, Finland gave up control of the oil refiner by donating shares to a charitable foundation when it donated shares worth 50 million euros (USD58.79 million) to a Finnish foundation. This cut the government's stake in Neste to 49.7 percent from 50.1 percent.

The government last year got the parliament's mandate to cut the Neste stake to 33.4 percent as it seeks funds for potential investments in new growth companies.
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Lubrizol presented new TPU products

MOSCOW (MRC) -- Lubrizol has presented new product solutions and applications from its Estane TPU portfolio, according to GV.

Among the highlights were the benefits of the plasticiser-free TPUs in applications such as paint protection, graphics vehicle wraps, automotive interiors, graphics media, signage, flooring, wind energy, architectural, and consumer goods.

Applications benefitting from the Estane ALR series of aliphatic TPUs include the rapidly growing market of graphics vehicle wraps. The TPUs provide a non-vinyl, plasticiser free combined surface protection and print media solution that provides good durability and ease of use during installation and removal. Lubrizol said that compared to traditional vinyl solutions, the Estane TPUs provide exceptional performance for weathering resistance and longer lasting physical and aesthetic advantages, benefitting both the integrity of the film surface and the underlying vehicle surface. Low temperature flexibility allows for stretching and conformability at temperatures much lower than plasticised vinyl, while wettability provides compatibility with inks and a range of printing technologies.

A few weeks earlier at Chinaplas 2018 in April the company launched the Pearlbond 700 series for the hot melt adhesive market. These products are said to provide good adhesion to both rigid and flexible substrates. According to the company, very good bonding strength can be obtained with substrates such as cotton, nylon, polyester fibres and many others. Also, this new offering stands out in terms of good wash (high temperature), chemical (dry cleaning) and hydrolytic resistance. The range can be applied in a multitude of demanding applications including aerospace, automotive, apparel, construction and hose + tube, said Lubrizol.

Another highlight at Chinaplas was Lubrizol’s portfolio of conductive and dissipative polymer products, marketed under the brand names of Stat-Rite and Carbo-Rite TPU. The range is available with a variety of host polymers, fillers, and forms, tailored to customer requirements. In consumer electronics, Lubrizol offers a portfolio of polymer solutions to improve the performance and aesthetics of mobile devices, wearables, electronic wire and cables, and other devices.

The new Estane SKN series is a range of low blooming and high transparency polyester-based TPU that provides good aesthetics, impact protection and processability, engineered specifically for phone case, mobile and electronics device customers.

As MRC wrote earlier, in February 2018, Lubrizol launched two thermoplastic polyurethane resins for hot melt adhesives (HMAs). The products belong to the plasticiser-free Pearlbond 300 TPU series that stands out for its low activation temperatures and good bonding properties to various substrates.

The Lubrizol Corporation, a Berkshire Hathaway company, is an innovative specialty chemical company that apart from its production develops and supplies technologies to customers in the global transportation, industrial and consumer markets. Lubrizol is providing innovative solutions for its customers high-performance application needs and remains committed to ongoing investment in its CPVC capabilities that support future growth. With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 8,000 employees worldwide.
MRC

Arlanxeo to increase prices for its Keltan products

MOSCOW (MRC) - Arlanxeo, a global leader in performance elastomers, raises its prices for ethylene propylene diene rubber grades (EPDM), as per the company's press release.

Thus, prices for the mentioned abouve product increases, as follows:

- in Europe, Middle East and Africa effective as of June 18th, 2018 up to 125 euro per metric ton;
- in Latin America effective as of June 18th, 2018 up to 150 USD per metric ton.

Arlanxeo distributes EPDM under the brand name Keltan.

EPDM products are used in applications like automotive, building & construction, plastics modification, consumer goods, cable & wire, and tubes.

As MRC wrote previously, in September 2017, Arlanxeo presented its solutions from the TSR business unit for the first time. Thanks to its good adhesion, aging resistance and low air permeability, the product X_Butyl is the ideal polymer for numerous adhesive applications, such as transparent adhesive tapes, sealants for double glazing, high-quality hot melt pressure-sensitive adhesives, vinyl floor adhesives and even sealants for roofing membranes. X_Butyl is also used for self-fluxing, semiconducting electrical splicing tapes, thereby avoiding the need for separate layers of adhesives.

Arlanxeo was established in April 2016 as a joint venture of Lanxess - a world-leading specialty chemicals company based in Cologne, Germany - and Saudi Aramco - a major global energy and chemicals enterprise headquartered in Dhahran, Saudi Arabia. The two partners each hold a 50-percent interest in the joint venture. The business operations of Arlanxeo are assigned to the High Performance Elastomers and Tire & Specialty Rubbers business units.
MRC

Formosa to shut Mailiao EDC & VCM plant for maintenance

MOSCOW (MRC) -- Formosa Plastics corporation (FPC) is likely to shut its ethylene dichloride (EDC) and vinyl chloride monomer (VCM) plant in Mailiao, as per Apic-online.

A Polymerupdate source in Taiwan informed that the company has schedule to take the plant off-line for maintenance in mid-June 2018. The plant is expected to remian off-line for around one month.

Located at Mailiao, Taiwan, the EDC plant has a production capacity of 1.65 million mt/year and VCM plant has a production capacity of 800,000 mt/year.

As MRC informed before, on 19 March, 2018, Formosa Petrochemical Corp (FPCC) undertook an emergency shutdown at its No. 1 cracker in Mailiao owing to technical issues. The plant remained off-line for around one day. Located at Mailiao in Taiwan, the No. 1 cracker has an ethylene production capacity of 700,000 mt/year, propylene production capacity of 350,000 mt/year and butadiene production capacity of 109,000 mt/year.

Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company's plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
MRC

A. Schulman stockholders approve merger with LyondellBasell

MOSCOW (MRC) -- A. Schulman has announced that during a special stockholder meeting its stockholders approved the merger agreement, under which LyondellBasell Industries will acquire all of the outstanding shares of A. Schulman common stock, as per CNBC.

A. Schulman stockholders also approved the non-binding advisory proposal regarding executive compensation related to the merger.

"A. Schulman shareholders have solidly affirmed the value that the Company’s merger with LyondellBasell represents. This outcome serves the best interests of all our stakeholders including our customers, suppliers, employees and the communities in which we operate," stated Joseph M. Gingo, chairman, president and chief executive officer of A. Schulman.

Upon completion of the merger, A. Schulman stockholders will be entitled to receive USD42.00 in cash and one contingent value right for each share of A. Schulman’s common stock.

The closing of the merger remains subject to the satisfaction of customary closing conditions, including approvals from competition agencies in each of the European Union and Russia as well as CFIUS approval. A. Schulman and LyondellBasell continue to target closing the transaction in the third calendar quarter of 2018; however, there can be no assurance regarding timing of completion of regulatory approvals, which could delay timing of the closing.

As MRC informed previously, in the second half of May 2018, LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, announced that it has received unconditional clearance from the Chinese State Administration of Market Regulation (SAMR) for its pending acquisition of A. Schulman.

A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds, composites 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 5,200 people and has 54 manufacturing facilities globally. A. Schulman reported net sales of approximately USD2.5 billion for the fiscal year ended August 31, 2017.

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.
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