China Tianchen Engineering Corp to Build PP Plant for Tianjin Bohua

MOSCOW (MRC) -- In a move designed to help it fully map the life cycle of used plastics processing machinery, processing machinery maker KraussMaffei Group is has bought a stake in the German second-hand machinery start-up Gindumac GmbH, as per Canplastics.

Gindumac – which stands for Global Industrial Machinery Cluster – develops and operates an online sales platform for plastics processing machinery, machine tools, and sheet metal working equipment.

In a statement, Germany-based KraussMaffei said it will now be better placed to implement “Old for New” deals when plastic processors decide to replace machinery. “When buying a new machine, Gindumac guarantees fair and market-driven purchase prices for the used machine currently in use,” KraussMaffie said. “In less than 48 hours, Gindumac can determine the current market value of each plastics processing machine using a proprietary evaluation software solution that compares current market prices based on an intelligent data algorithm."

"The Gindumac platform extends the KraussMaffei Group’s digital platform-based offering,” the company continued. “Together with a strong partner KraussMaffei, Gindumac will digitize the used machinery trading even more and further expand its expertise in plastics processing machinery."

Gindumac has teams at locations in Kaiserslautern, Germany, Barcelona, Spain, and Mumbai, India that consist of “forward-thinking talents from more than 13 countries,” KruassMaffie said. “Gindumac sees itself as a digital company that develops new solutions for the used machinery trading in a progressive, visionary, courageous and implementation-oriented manner."
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MOSCOW (MRC) -- South Korea’s Samsung Engineering Co. clinched two petrochemical plant orders worth a combined 615.3 billion won (USD548.5 million) from Vietnam’s Long Son Petrochemicals Co., as per Pulsenews.

Under an exclusive engineering, procurement and construction deal, Samsung Engineering would be in charge of building the Package B high-density polyethylene (HDPE) plant and the Package C polypropylene (PP) plant, the company said Thursday. The plants are worth 338.3 billion won and 277 billion won, respectively, amounting to 11.1 percent of its total 2017 sales.

The HDPE plant will have an annual capacity of 450,000 tons and the PP plant 400,000 tons, the company said. It plans to complete the construction by 2022.

The project is part of the Long Son Petrochemical Complex, an industrial site in the southern province of Ba Ria-Vung Tau that would be the biggest of its kind in Vietnam when completed.

"We expect this deal to help bolster our market presence in Vietnam, Thailand and Southeast Asia at large," said a Samsung Engineering official.

This is the Korean company’s fifth project with Long Son Petrochemicals, a subsidiary of Siam Cement Group, Thailand’s largest private sector company.

Samsung Engineering has built a solid track record in the polyethylene field, completing more than 10 related projects overseas.
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MOSCOW (MRC) -- Pennsylvania-based injection molding and assembly services provider Viking Plastics has acquired Genesis Plastics and Engineering LLC, a manufacturer of automotive interiors, seating and custom injection molded products headquartered in Indiana, as per Canplastics.

The terms of the deal have not been disclosed.

In a statement, Viking said the purchase adds to its current line of custom injection molded products and assemblies for the automotive, HVAC, and industrial markets.

Established in 1995, Genesis is IATF certified. “Genesis’ commitment to quality, customer satisfaction and continuous improvement align with our values,” said Viking president and CEO Kelly Goodsel. "Our partnership will enable us to provide a wider range of quality products to our current customers and position us to better service new customers."

Viking, which was founded in 1972, operates multiple plants that house more than 100 molding machines ranging in size from 50 to 720 tons. In-house capabilities include two-shot and insert molding, pad printing and automated assembly.

Last year, Viking purchased Kentucky Manufacturing & Technology in April 2017.
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MOSCOW (MRC) -- Sichuan Petrochemical (part of PetroChina) has restarted its Polypropylene (PP) plant in Sichuan, according to Apic-online.

A Polymerupdate source in China informed that the company has resumed operations at the plant on June 24, 2018. The plant was shut for maintenance on April 8, 2018.

Located at Sichuan province of China, the PP plant has a production capacity of 450,000 mt/year.

As MRC informed before, in January 2018, PetroChina nearly doubled the amount of Russian crude being processed at its refinery in Dalian, the company’s biggest, since January 2018, as a new supply agreement has come into effect. The Dalian Petrochemical Corp, located in the northeast port city of Dalian, is expected to process 13 million tonnes, or 260,000 bpd of Russian pipeline crude this year, up by about 85 to 90 percent from last year’s level. Dalian has the capacity to process about 410,000 bpd of crude. The increase follows an agreement worked out between the Russian and Chinese governments under which Russia’s top oil producer Rosneft will supply 30 million tonnes of ESPO Blend crude to PetroChina in 2018, or about 600,000 bpd. That would represent an increase of 50 percent over 2017 volumes. The additional oil sent to Dalian is about 120,000 bpd and will make up the bulk of the Russian increases.

PetroChina Company Limited, is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation, headquartered in Dongcheng District, Beijing. It is China's biggest oil producer.
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