Trinseo raises April prices of ABS and SAN in Europe

MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex binders and synthetic rubber, and its affiliate companies in Europe have announced a price increase for all acrylonitrile-butadiene-styrene (ABS) and acrylonitrile-styrene copolymer (SAN) grades, said the producer in its press release as of 2 April.

Effective April 1, 2019, or as existing contract terms allow, the contract and spot prices for the products listed below rose as follows:

- MAGNUM ABS resins - by EUR90 per metric ton;
- TYRIL SAN resins - by EUR90 per metric ton.

As MRC informed before, Trinseo last increased its prices for ABS and SAN grades on March 1, 2019. Thus, February prices for the said products grew, as stated below:

- MAGNUM ABS resins - by EUR70 per metric ton;
- TYRIL SAN resins - by EUR705 per metric ton.

Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD4.4 billion in net sales in 2017, with 16 manufacturing sites around the world, and approximately 2,200 employees.
MRC

MOSCOW (MRC) -- At Evonik Catalyst’s manufacturing site in Dombivli, India, the company is commissioning a new plant initially for the production of KALCATTM and in the long-term also Metalyst Activated Metal Catalysts, said the company.

This new state of the art production facility allows Evonik to fully utilize its capacities in Dombivli while establishing significant synergies with the Activated Metal Catalyst production site in Germany.

Activated Metal Catalysts are used in the food industry for the production of sorbitol, the manufacture of active pharmaceutical ingredients (APIs) and in the production of fine and industrial chemicals, for example in the polyurethane value chain. The benefit to customers will be increased supply security of high quality catalysts which are critical raw materials for most industrial processes. The growth rate for India and the rest of Asia in the catalyst market, is forecasted to be significantly higher than in other regions of the world. Therefore, this expansion and upgrade of operations will safeguard the supply of the established product range as well as allowing Evonik to expand the portfolio targeting new markets and applications.

"With this new production facility we will be able to increase our ability to supply our customers with technologically advanced products in India and abroad", states Dr. Thomas Tacke, Managing Director Evonik Catalysts India. Dr. Steffen Hasenzahl, Head of Business Line Catalyst adds: “This expansion of operations in Dombivli is part of our long-term strategy to enhance the expertise and capabilities in the Asia Pacific region. Additionally, it is an important step forward in our commitment to support our valued partners in the region.” “It is one more step towards the company’s commitment to increase our footprint in the growth region” concluded, Mr. Sanjeev Taneja, President and Managing Director, Evonik India.

As MRC informed previously, Evonik Resource Efficiency will invest in a capacity expansion of its performance foams business at its production site in Darmstadt, Germany. The investment will increase the output of the facility by about 20% as a first step. The Group will be adding production equipment to its operations complex that manufactures products marketed under the Rohacell brand. The expanded production capacity is expected to be operational by the second half of 2017.

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 36,000 employees. In fiscal 2018, the enterprise generated sales of EUR15 billion and an operating profit (adjusted EBITDA) of EUR2.6 billion.
MRC

MOSCOW (MRC) -- DuPont Teijin Films has launched a new depolymerisation process which upcycles post-consumer PET waste into technically-advanced BOPET films suitable for use in various applications, as per Plasticsnewseurope.

The LuxCR process depolymerises mechanically recovered PET flake back into the monomer unit bis (2-hydroxyethyl) terephthalate - or BHET - which is chemically indistinguishable from virgin monomer. The base monomer is then repolymerised into a polyester polymer which is subsequently converted into BOPET films, DuPont Teijin Films said in an 8 April announcement.

The process also addresses contamination issues through a combination of monomer and polymer filtration units and by vacuum extraction, which runs for several hours at temperatures between 270-300°C. Initial commercial launches are planned in the second quarter of 2019, across a range of packaging formats.

Applications will include high temperature food contact such as ready meal lidding and “ovenable” flow wrap structures, the company said.

PET polyester films, including the company’s Mylar and Melinex series, can be produced using post-consumer recycled content. DuPont Teijin Films said it is currently discussing the use of the recycled films in other applications such as labels, solar panels and ID cards, amongst others.

While the primary focus of the recycling process is to provide feedstock to DuPont Teijin Films’ own film manufacturing lines, the company is conducting feasibility studies to extend the external sale of the polymer for applications such as PET bottles and trays.

The company is also studying the collection and recycling of its own post-consumer Mylar and Melinex industrial waste directly from customers.

In October 2017, Indorama Ventures Public Company Limited (IVL), a global chemical producer, announced that it has entered into an agreement to acquire DuPont Teijin Films (DTF), a leading global producer of Biaxially-oriented Polyethylene Terephthalate (BOPET) and Polyethylene Naphthalate (PEN) films with total film/polymer capacity of 277,000 tonnes per annum.

DuPont Teijin Films is a joint venture between DuPont and Teijin Ltd and supplies polyester films and related services to a wide range of industries, including healthcare, alternative energy, electronics and packaging.

MRC

MOSCOW (MRC) -- AkzoNobel has repurchased 585,054 of its own ordinary shares in the period from April 1, 2019 up to and including April 5, 2019, at an average price of EUR80.10 per share, said the company.

The consideration of the repurchase was EUR46.86 million. This is part of a repurchase program announced on February 13, 2019. The total number of shares repurchased under this program to date is 4,682,000 ordinary shares for a total consideration of EUR373.89 million.

AkzoNobel intends to repurchase common shares up to a value of EUR2.5 billion as part of a total EUR6.5 billion being distributed to shareholders following the sale of the Specialty Chemicals business. The share buyback is due to be completed by the end of 2019.

In accordance with regulations, AkzoNobel will inform the market about the progress made in the execution of this program through weekly updates and on the Share buyback overview page.

As MRC informed earlier, AkzoNobel has repurchased 942,782 of its own ordinary shares in the period from March 25, 2019 up to and including March 29, 2019, at an average price of EUR79.32 per share. The consideration of the repurchase was EUR74.8 million.

Akzo Nobel N.V., trading as AkzoNobel, is a Dutch multinational, active in the fields of decorative paints, performance coatings and specialty chemicals. Headquartered in Amsterdam, the company has activities in more than 80 countries, and employs approximately 55,000 people.
MRC

MOSCOW (MRC) -- Ineos has undertaken a planned shutdown at its polypropylene (PP) plant in California, as per Apic-online.

A Polymerupdate source in US informed that the company has started turnaround at the plant in mid-March, 2019. The plant is likely to remain off-line until end-April, 2019.

Located at Carson, California, the PP plant has a production capacity of 230,000 mt/year.

As MRC reported earlier, in January 2019, Ineos announced Antwerp as the location for its new petrochemical investment. The EUR3 billion investment will be the biggest ever made by Ineos and is first cracker to be built in Europe in 20 years. The investment is a game changer for the chemical sectors and will bring huge benefits to the Belgium and wider European economies.

Ineos Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.
MRC