One Rock completes acquisition of Nexeo Plastics

MOSCOW (MRC) -- New York City-based Investment firm One Rock Capital Partners has completed its acquisition of Nexeo Plastics, which is the plastics distribution business of Nexeo Solutions Inc., a subsidiary of Univar Inc., as per Canplastics.

The USD640-million deal was first announced in February. The new business will continue to be led by Shawn Williams, the executive vice president of Nexeo Plastics.

"Our partnership with One Rock and new structure as a pure-play plastics distribution business will allow us to focus our talent and resources on expanding our service offering for our suppliers and customers worldwide,” Williams said in a statement.

Headquartered in The Woodlands, Texas, Nexeo Plastics is a global leader in the distribution of plastics products, including polymer products and prime engineering resins, and supplies customers in more than 60 countries in North America, Europe, and Asia.

MRC earlier said, Nexeo Univar Inc., has announced that it has completed the acquisition of Nexeo Solutions, creating a leading global chemical and ingredients solutions provider. The combined company will conduct business as Univar Solutions, reflecting a commitment to combining the 'best of the best' from each legacy organization.
MRC

AkzoNobel invests in major site upgrade to strengthen position in US wood coatings

MOSCOW (MRC)--AkzoNobel is making a multi-million dollar investment to upgrade its wood coatings facility in High Point, North Carolina, into a best-in-class manufacturing site – and further strengthen the company’s market position in the US, the producer said.

The transformation will involve reorganizing manufacturing operations at the site and will include the addition of automatic dosing unit technology to produce paint more efficiently. A new raw materials warehouse, research lab and technical application center are also being built. Construction is due to begin in April 2019, with rolling projects expected to be completed by 2020.

"This is a significant investment, which will further enable us to meet and exceed our customers’ expectations,” says AkzoNobel CEO Thierry Vanlancker. “The US is a key market for our Wood Coatings business, and our customers trust us to deliver world-class products and services.

"Investing in High Point will increase our comprehensive North American supply capability for wood finishes, which also includes our plants in Roanoke, Virginia; Salem, Oregon; Warwick, Quebec; and Port Hope, Ontario. It will enable us to remain ahead of market trends, so we can continue to provide the visionary service our customers have come to expect – and it will solidify our position as a frontrunner in the wood coatings industry."

AkzoNobel has a long and proud history of supplying the world’s leading manufacturers of cabinetry, furniture, flooring and building products with top quality industrial wood finishes to beautify and protect their products. Today, the High Point facility covers 30 acres and employs more than 250 people. The site produces a wide range of products, including UV, solvent-based and water-based wood coatings, such as paints, stains and lacquers.

“This investment in High Point will enable us to ensure the satisfaction of all our customers and partners, including our direct OEM building product customers and our Chemcraft distribution partners,” adds Simon Parker, Managing Director of AkzoNobel’s Industrial Coatings business.

"We’ll be able to provide current and future customers with even more flexibility through the delivery of small batch sizes; higher accuracy in stains and solid colors; more water-based products and a rapid response to requests."

This latest investment follows last year’s opening of a newly-constructed mega-warehouse in La Porte, Texas, which serves as a central regional hub for the company’s Marine and Protective Coatings business. It also comes just weeks after the inauguration of a state-of-the-art R&D innovation campus at AkzoNobel’s Felling site in the UK.
MRC

CCC Plastics adds Harinder Tamber as new technical specialist

MOSCOW (MRC) -- CCC Plastics, a Mississauga, Ont.-based supplier of resins and colourants, has appointed film and extrusion industry veteran Harinder Tamber as its new technical specialist, as per Canplastics.

Tamber has an M. Tech in polymer technology from IIT Delhi, India, and a Ph.D. in polymer science from the Polymer Research Institute at Syracuse, N.Y. He has previously worked with for Macro Engineering, Windmoeller & Hoelscher, Brampton Engineering, Nordson Corp., and Magic MP spa. Additionally, he has been awarded six U.S. patents and has four patents pending.

"This addition reflects CCC’s commitment to growing our business in partnership with our customers and suppliers by investing in our technical depth," the company said in a statement.

As MRC informed earlier, iD Additives Inc., a North American supplier of additives to the plastics industry, has named CCC Plastics as its distributor throughout Canada for its lines of foaming agents and purging products.

Founded in 1920, CCC is one of the largest independent resin distributors in Canada, and the 10th largest distributor in North America.
MRC

Chemical plant explosion, fire sends plume of smoke over city

MOSCOW (MRC) -- A plume of smoke reminiscent of a recent petrochemical disaster in Houston, billowed from the KMCO specialty chemical processing plant Tuesday, as per Hydrocarbonprocessing.

Local officials said they received reports of an explosion at the plant and preliminary info showed two employees were injured and one person was unaccounted for.

Officials said a shelter in place was ordered for all area residents and two local school districts. Roads surrounding the plant were also closed.

Local media reported residents said the explosion shook their homes as a large plume of smoke billowed over the plant. Smoke could be seen up to 20 miles away from the plant.

According to the company's website, the plant manufactures products such as glycol, oilfield products and more.

It is unknown what caused the explosion.

Cleanup efforts are still underway in Deer Park, Texas after a chemical plant fire sent billows of smoke into the air for days. The local emergency management office said the county remained at Level 3- Increased Readiness as clean up efforts were underway at the ITC site in Deer Park. The office said they were also actively monitoring the KMCO explosion.
MRC

Major oil company to quit US refining lobby over climate disagreement

MOSCOW (MRC) -- Royal Dutch Shell became the first major oil and gas company to announce plans to leave a leading U.S. refining lobby due to disagreement on climate policies, as per Hydrocarbonprocessing.

In its first review of its association with 19 key industry groups, the company said it had found "material misalignment" over climate policy with the American Fuel & Petrochemical Manufacturers (AFPM) and would quit the body in 2020.

The review is part of Shell's drive to increase transparency and show investors it is in line with the 2015 Paris climate agreement's goals to limit global warming by reducing carbon emissions to a net zero by the end of the century. It is also the latest sign of how investor pressure on oil companies is leading to changes in their behaviour around climate.

"AFPM has not stated support for the goal of the Paris Agreement. Shell supports the goal of the Paris Agreement," the Anglo-Dutch company said in its decision. Shell said it also disagreed with AFPM's opposition to a price on carbon and action on low-carbon technologies.

AFPM Chief Executive Chet Thompson thanked Shell for its "longstanding collaboration." "Like any family, we aren't always fully aligned on every policy, but we always strive to reach consensus positions on policies," Thompson said in a statement.

"We will also continue working on behalf of the refining and petrochemical industries to advance policies that ensure reliable and affordable access to fuels and petrochemicals, while being responsible stewards of the environment."

AFPM counts around 300 U.S. and international members including Exxon Mobil, Chevron, BP and Total that operate 110 refineries and 229 petrochemical plants, according to its 2018 annual report. Shell's review was welcomed by Adam Matthews, director of ethics and engagement for the Church of England Pensions Board, which invests in Shell and led discussions with the company over its climate policy.

"This is an industry first," Matthews said. "With this review Shell have set the benchmark for best practice on corporate climate lobbying not just within oil and gas but across all industries. The challenge now is for others to follow suit."
MRC