Oxea to Expand Global Production Capacity for TCD Alcohol

MOSCOW (MRC) -- The global chemical company Oxea has decided to further expand its production capacities for TCD Alcohol to meet market demand. Following a successful initial feasibility study, said the company,

the Board of Directors approved the capacity increase investment for TCD Alcohol in Oberhausen, Germany. Basic engineering is about to begin, and Oxea expects the additional capacity to be available by the second half of 2021. TCD Alcohol finds uses in optoelectronics, packaging, automotive applications, as well as in specialty adhesives and surface coating systems.

“Oxea has initiated this capacity increase project for this important, highly functional molecule as a commitment to our customers. We feel responsible for supplying the market by increasing product availability and strengthening supply reliability. Once the project has been completed in 2021, we expect to cover the anticipated demand of the global TCD Alcohol market for the upcoming years,” said Jorge Moshe Castro Roldan, Global Business Director Specialty Polyols, Higher Aldehydes & Amines at Oxea.

“With the strategic investment into the new TCD Alcohol capacity expansion project Oxea continues on its successful growth path and further strengthens its global leadership position,” commented Markus Hoschke, Executive Vice President Global Marketing & Sales at Oxea.

Oxea is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavorings and fragrances, printing inks and plastics. Oxea employs more than 1,400 people worldwide. Oxea is part of the Oman Oil Company S.A.O.C. (OOC), a commercial company wholly owned by the Government of Oman. Established in 1996, it pursues investment opportunities in the wider energy sector both inside and outside Oman. OOC plays an important role in the Sultanate's efforts to diversify the economy and to promote domestic and foreign investments.
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MOSCOW (MRC) - Trelleborg, through its Trelleborg Industrial Solutions business area, has signed an agreement and finalised the acquisition of the engineering group Signum Technology, said Britishplastics.

The group delivers safety critical solutions for flow control for the oil, gas, and petrochemicals industries, such as marine breakaway couplings and LNG transfer systems.

The acquisition complements and extends Trelleborg’s product portfolio and strengthens Trelleborg as a system provider, primarily to the fast-growing LNG transfer market segment.

Jean-Paul Mindermann, President if the Trelleborg Industrial Solutions business area, said: “We are very pleased to announce the acquisition of Signum. Combined, we are creating a very attractive offering of integrated packages and safety critical systems for both LNG ship-to-ship and ship-to-shore transfer in demanding industries.”

“Signum has a reputation for quality and innovation, very much like Trelleborg. This acquisition will also further strengthen our geographic coverage, notably in the aftermarket and service business, hence a really good fit for us in many aspects.”

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MOSCOW (MRC) -- With US sanctions blocking Venezuela from selling oil to the United States, state-owned energy firm PDVSA has turned to several little-known buyers that include a tiny Turkish company with no refineries but ties to President Nicolas Maduro’s government, reported Reuters with reference to internal documents and a PDVSA source.

Until recently, some of the world’s largest petroleum and refining firms, including US companies Chevron and Valero Energy, lined up to take Venezuelan oil cargoes and PDVSA had a rigorous vetting process to ensure potential buyers had the capacity to pay.

But US sanctions imposed in January in an effort to oust Maduro have driven away many of those customers. PDVSA’s exports have slumped by more than a fifth since sanctions were imposed, according to company records and Refinitiv Eikon data. Its biggest buyers today are Chinese and Indian companies.

Three sources with knowledge of the matter told Reuters that directors at a March 14 meeting of PDVSA’s board temporarily waived some requirements for new customers or suppliers, including that of having at least two years’ experience in the oil industry.

Neither PDVSA nor Venezuela’s oil ministry responded to requests for comment for this story.

In the wake of the changes, a Turkish company called Grupo Iveex Insaat started buying Venezuelan oil in April, according to documents related to PDVSA loading plans and internal reports on exports and imports for the first half of the year reviewed by Reuters.

Istanbul Chamber of Commerce records show that Iveex Insaat was formed less than a year ago with capital of just 10,000 lira (USD1,775) and listed “residential construction” as its main activity.

It was one of only five firms that loaded tankers to take Venezuela’s upgraded crude - among its most valuable oil - from April through June, the documents showed. Iveex loaded four cargoes of Venezuelan crude and products in April - equivalent to just under 8 percent of Venezuela’s oil exports - and nothing in May or June, according to PDVSA documents.

Turkish corporate records show Iveex Insaat is owned by Miguel Silva, a Venezuelan businessman who heads the Caracas-based Venezuelan Exporters’ Chamber and also served as a housing ministry commissioner in Maduro’s administration.

Reuters was unable to determine the terms under which Iveex Insaat is receiving Venezuelan oil and was unable to confirm who would ultimately buy and refine the crude, as the company has no refineries.

Neither Iveex Insaat nor Silva responded to requests for comment.

The PDVSA source, a shipping broker and a maritime inspector - all of whom declined to be named - told Reuters that Iveex had agreed to deliver refined products to Venezuela in exchange for receiving crude. With its refinery network crippled by maintenance issues, the OPEC nation has struggled with severe fuel shortages in recent months.

The two other companies that only began chartering tankers to take PDVSA’s oil after sanctions hit are Panama-registered Melaj Offshore Corp and Sahara Energy, a unit of Nigeria-based Sahara Group. The two loaded PDVSA oil cargoes shortly after the sanctions were announced, internal company documents show.

Sahara Energy did not respond to emails and calls to request comment. Reuters was unable to find contact details for Melaj.
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MOSCOW (MRC) -- A subsidiary of U.S.-based packaging and tubing supplier Tekni-Plex Inc. has purchased Brazilian closure liner manufacturer Geraldiscos, which will become part of Tekni-Plex’s Tri-Seal business, said Canplastics.

The terms of the deal have not been disclosed. Founded in 1964 and headquartered in Santana de Parnaiba, a suburb of Sao Paulo, Geraldiscos manufactures closure liners and induction seals for a wide variety of container types – including PP, PE, HDPE, PVC, and PET – to the South American food, chemical, automotive, and healthcare marketplace.

“[The acquisition of] Geraldiscos allows us to expand our geographic footprint into South America to support the large Brazilian closure market and our multinational customers,” Paul Young, president and CEO of Tekni-Plex, said in a statement. “We have followed the company for a long period of time, and have always been interested in its high-quality innovative products, excellent manufacturing capabilities, as well as a very strong management team.”

Geraldiscos has approximately 140 workers, and Tekni-Plex plans on keeping them all. Additionally, Geraldiscos’s general manager Gabriel Sahyao Leal Dos Santos will continue to oversee the operation.

Geraldiscos is the thirteen acquisition Tekni-Plex has made in the past five years, supporting its strategy to grow its business though transformative acquisitions and strategic add-ons. Most recently, Tekni-Plex purchased Italian healthcare packaging company Lameplast SpA in early July.

Headquartered in Wayne, Pa., Tekni-Plex supplies products for such end markets as medical, pharmaceutical, food, beverage, personal care, household, and industrial.

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MOSCOW (MRC) -- Biesterfeld is expanding its partnership with Solvay Speciality Polymer and, as of August 2019, is taking on the distribution of fluoroelastomers in Europe, Russia, and Brazil, said Britishplastics.

This will include the new FKM polymers from the Tecnoflon brand, which are characterised by excellent chemical resistance to a large number of different media such as fuels, lubricants, oils, and solvents

Due to its specific properties, Tecnoflon FKM is commonly used in seals and hoses and is displayed predominantly in the automotive industry.

Jorn Thomsen, Product Manager for Specialty Polymers at Biesterfeld Performance Rubber, said: “With the new distribution rights, we are expanding our range of high-performance polymers and are adding to our specialist product portfolio."

“With Tecnoflon FKM, we are pleased to be able to offer our customers technically refined, high-quality products from market leader Solvay. Existing and new customers will benefit from our service and our efficient supply chain solutions.”

Giovanni Biressi, Tecnoflon FKM and FFKM Global Product Manager for Solvay Specialty Polymers, said: “The new agreement has now enabled us to expand our many years of successful cooperation with Biesterfeld to the area of rubber products.”

“Thanks to Biesterfeld, we have at our side an experienced and established partner with the expertise to place our products on the market in the best possible way. We are pleased that we can now join forces to drive forward the success of Tecnolon FKM.”

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