Nghi Son oil refinery offers its first jet fuel cargo -sources

MOSCOW (MRC) -- Vietnam’s Nghi Son oil refinery has offered its first jet fuel cargo, weeks after it officially began commercial production, two sources at the refinery told Reuters.

The export cargo is ready for loading from Jan. 1 to Jan. 10, the first source said, declining to be identified as he was not authorized to speak with media.

“The export volume and price are still subject to negotiations with potential buyers,” the source added. A third source at the refinery told Reuters in November that the facility was seeking government permission to export its first batch of 30,000 tonnes of jet fuel.

“Exporting the first batch will help us secure an ISO certificate for the product,” the first source said, adding that the refinery would sell jet fuel in the domestic market after that under a deal signed with Vietnam Oil and Gas group, or PetroVietnam.

The 200,000-barrels-per-day Nghi Son refinery, located 260 km (160 miles) south of Hanoi, began commercial production on Nov. 14 after months of tests.

The USD9 billion refinery is 35.1 percent owned by Japan’s Idemitsu Kosan Co, 35.1 percent by Kuwait Petroleum, 25.1 percent by PetroVietnam and 4.7 percent by Mitsui Chemicals Inc.
MRC

MOSCOW (MRC) – Gurit announces the successful closing of the divestment of all shares in the Company`s PVC production site in Qingdao, China,said the company.

Gurit has decided to focus the core materials manufacturing in the Asia-Pacific region on SAN, PET and balsa wood at its existing production facility in Tianjin, China. Following this decision, Gurit has disclosed the signing of an agreement to sell all shares in Gurit’s PVC production company in Qingdao, China to Zhengyu Sunshine Industrial Co. Ltd. for an undisclosed purchase price on August 3rd, 2018.

Gurit announces the successful closing of this transaction with the buyer. The financial results of this divestment will be disclosed as part of the annual report 2018 of Gurit.

The companies of Gurit Holding AG, Wattwil/Switzerland, are specialized on the development and manufacture of advanced composite materials, related technologies and select finished parts and components. The comprehensive product range comprises fibre reinforced prepregs, structural core products, gel coats, adhesives, resins and consumables. Gurit supplies global growth markets with composite materials on the one hand and composite tooling equipment, core material wind turbine blade kits, structural engineering and select finished parts on the other. The global Group has production sites and offices in Switzerland, Denmark, Germany, Hungary, Italy, Poland, Spain, the U.K., Turkey, Canada, the U.S.A., Ecuador, New Zealand, India and China.
MRC

MOSCOW (MRC) -- Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced that it has entered into an agreement to acquire a PET recycling facility from Custom Polymers PET in Alabama, US, as per the company's press release.

The facility consists of two production lines; Recycled Polyethylene Terephthalate (rPET) Flake and food-grade rPET Pellets, with a combined capacity of 31,000 tonnes/annum.

Regardless of the fluctuations in the quality of post-consumer feedstock, this recycling facility can offer consistently high quality recycled PET material that meets customers’ specific needs in Packaging and Fibers. Indorama Ventures with Custom Polymer has important footprints in Recycling in multiple locations in Europe, in Mexico, in Thailand and now in USA.

A growing emphasis on sustainability and circular economy objectives among packaging and consumer product manufacturers is expected to be amongst the key factors driving market growth. This acquisition is strategically in line with the Company’s objectives of long-term sustainability. The acquisition of this recycling facility from Custom Polymers will allow IVL to have a secured supply of rPET Flake and food-grade100% rPET Pellets in US, and this will open up new opportunities to meet the ever increasing food grade rPET demand for more sustainable packaging solutions by major brand owners. The proximity of this recycling facility to our existing polyester manufacturing entities in US, synergies of management and supply chain are expected to benefit Indorama Ventures’ ability to serve our customers in North America.

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas. The company’s portfolio comprises Necessities and High Value-Added (HVA) categories of Polymers, Fibers, and Packaging, selectively integrated with self-manufactured Ethylene Oxide/Glycols and PTA where economical. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 16,000 employees worldwide and consolidated revenue of USD 8.4 billion in 2017. The Company is listed in the Dow Jones Sustainability Index (DJSI).
MRC

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, has announced price increases for its GUR and GHR grades (UHMW-PE) to be shipped starting from January to Europe, the Americas and Asia, as per the company's press release.

The price increases below will be effective for orders shipped on or after 1 January, 2019, or as contracts otherwise allow, as follows:

- in Europe - by EUR150/tonne;
- in Asia - by USD150/tonne;
- in North and South America - by 10%.

Meanwhile, final price for individual grades may vary.

As MRC informed earlier, Celanese Corporation has raised list and off-list selling prices for Vinyl Acetate Monomer (VAM) sold in Asia Outside China (AOC). The price increase below is for orders shipped and is effective as of 21 December 2018, or as contracts otherwise allow, and is incremental to any previously announced increases. Thus, Celanese increased VAM list and off-list selling prices by USD50/mt for AOC.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,600 employees worldwide and had 2017 net sales of USD6.1 billion.
MRC

MOSCOW (MRC) -- BASF Venture Capital GmbH is investing in Prismlab, a provider of 3D printing processes and 3D printers, headquartered in Shanghai, China, according to GV.

Prismlab has developed a patented printing process that is characterised by a very high printing speed, high level of precision and lower printing costs. BASF’s venture investment will enable Prismlab to further accelerate its product development and innovation while strengthening its market reach to the global market.

"This is our first direct investment in a Chinese company," said Markus Solibieda, Managing Director of BASF Venture Capital GmbH. "The trailblazing technology from Prismlab allows large and stable components, such as medical braces and anatomical models, to be 3D printed for the first time. This investment supports BASF’s strategy of actively advancing our technologies and expanding our product offering in the 3D printing sector."

"China is transforming from a manufacturing-driven to an innovation-driven economy. This investment in Prismlab reflects our commitment to further expanding our innovation capabilities in China, and BASF Venture Capital plays an important role in helping us identifying potential partners that lead us to success," said Dr. Zheng Daqing, BASF’s Senior Vice President, Business and Market Development Greater China.

"The 3D printing technology must continue to evolve before it is set to change the world. At Prismlab, we aim to spearhead and accelerate that change by providing solutions through specialised customisation. The investment allows us to stay laser-focused on our R&D capability, a key factor to achieve that goal," said Hou Feng, Founder and Chairman of Prismlab.

Prismlab has developed a patented 3D printing process, "Pixel Resolution Enhanced Technology", based on stereolithography (SLA). SLA allows comparatively large components to be produced using light-curing resins. Prismlab’s technology increases the printing resolution without compromising printing speed. In order to increase the amount of energy brought into a pixel, Prismlab’s technology divides each pixel in the resin into several small sections, which can be cured individually by exposure to LCD light. This makes the energy input into each pixel significantly higher than similar processes that expose each pixel to light once. This allows comparatively large and stable components or numerous parts to be printed in the same production step. With the use of LCD light, it also reduces process costs. This advantage opens opportunities in the footwear and furniture industry, said the company.

Along with this patented process, Prismlab also markets 3D printers and other related services. The Prismlab technology can be used in various key customer applications, including invisible braces, and anatomical models for medical, and education and training purposes.

SLA uses a laser for layer-by-layer curing of a photopolymer solution to shape the required workpiece. SLA and LCD based printing processes determinate the size, stability, and usability of the components to be produced as they are limited by the size of the light spot and the intensity of the light.

As MRC wrote before, in November 2016, BASF SE unveiled plans to invest globally within the next five years more than EUR200 million in its plastic additives business, approximately half of which in Asia, focusing on capacity expansions and operational excellence. Plastic additives improve product properties such as scratch resistance or light stability, and optimize plastics manufacturing processes. As the leading global supplier of plastic additives with manufacturing assets in all regions, BASF is a major partner to the plastics industry.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
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