Evonik invests in Chinese 3D-printing start-up making medical implants

MOSCOW (MRC) -- Evonik Venture Capital has invested in a 3D-printing start-up in China that makes implants for neuro and spine surgery, said company.

The technology enables faster recovery and fewer post-operation checks for patients and less surgical risk for doctors. Evonik is the lead investor in a high single-digit million-euro round of fundraising for Shanghai-based Meditool.

“This is our first direct investment in China and our first direct investment after initiating our second venture capital fund this year,” said Bernhard Mohr, head of Evonik Venture Capital. “Meditool is a good example of how venture capital is helping Evonik secure access to disruptive technologies."

Meditool has developed its own hardware and software systems. The software can read and process images directly from commonly used magnetic resonance imaging (MRI) or computed tomography scan (CT) devices. A readily printable 3D model is generated by the software and sent to the printer. The implants are 3D printed with a high-performance polymer supplied by Evonik called Polyetheretherketone (PEEK).

“Meditool’s technology pays directly into our strategy of expanding in high-tech applications for our additive manufacturing materials,” said Thomas Grosse-Puppendahl, head of the Evonik’s innovation growth field Additive Manufacturing. “Medical applications are of particular interest and our high performance polymers have already been proven as a reliable implant material in other applications such as dental."

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. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.
MRC

LyondellBasell prices public offering of guaranteed notes

MOSCOW (MRC) -- LyondellBasell Industries N.V. has announced that LYB International Finance II B.V., its wholly-owned subsidiary, priced a public offering of EUR500 million aggregate principal amount of 0.875% Guaranteed Notes due 2026 and EUR500 million aggregate principal amount of 1.625% Guaranteed Notes due 2031, as per the company's press release.

The Notes will be fully and unconditionally guaranteed by LyondellBasell. The Offering is expected to close on September 17, 2019, subject to the satisfaction of customary closing conditions. The net proceeds of the Offering are expected to be used to repay the USD1,000 million of indebtedness outstanding under LyondellBasell's USD4,000 million three-year term loan facility and a portion of LyondellBasell's outstanding short-term debt, including commercial paper.

Citigroup Global Markets Limited and Deutsche Bank AG, London Branch are acting as the joint book-running managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC).

As MRC informed before, in February 2019, LyondellBasell, the world’s largest licensor of polyolefin technologies, announced HPCL-Mittal Energy Limited (HMEL) selected LyondellBasell’s fifth-generation Spheripol polypropylene (PP) process technology for a 500 KT per year plant in Bathinda, India.

Besides, in April 2019, LyondellBasell announced that PetroChina will use the LyondellBasell Hostalen "Advanced Cascade Process" (Hostalen ACP) technology to produce 1,100,000 metric tons per year (m.t./yr) of high-density polyethylene (HDPE) capacity. Licensor selection has been done by China HuanQiu Contracting & Engineering Co., Ltd. (HQC), a wholly owned subsidiary of PetroChina. The low-pressure slurry process technology will be used for a 300,000-m.t./yr HDPE unit to be built in Korla City, Xinjiang Province, a 400,000-m.t./yr plant in Jieyang City, Guangdong Province and a 400,000-m.t./yr plant in Yulin City, Shaanxi Province in the P.R. China.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies.
MRC

Evonik expands capacity for specialty alcohol ITDA

MOSCOW (MRC) -- Evonik has expanded its production capacity for the high-purity C13 alcohol isotridecanol (ITDA) at the Marl Chemical Park, said the company.

This will enable the specialty chemicals group to continue to build on its position as one of the world's most important manufacturers of this product, and to grow with its customers. Due to the outstanding technical properties and high effectiveness of ITDA, global demand has been growing for years.
The high-purity C13 alcohol is an important intermediate product in the production of surface-active substances (so-called surfactants). They are used, for example, in high-quality industrial applications such as cleaning and lubricants. Another application of ITDA is in the form of special esters, found in high-quality paints and lacquer resins.
"ITDA is a real petrochemical specialty. With this quality, which contains almost 100 percent C13 alcohols, we offer our customers a particularly high-quality product," says Hinnerk G. Becker, Market Segment Manager for Specialties at Evonik Performance Intermediates. "In line with our motto 'Chemistry4People®', we offer ITDA, as with all petrochemical specialties, a reliable partnership of equals for both existing and new customers, enhanced by modern digital business and cooperation opportunities".
The optimization of the production-Verbund from the raw material side to the customer's value chain: this is one of Evonik's special areas of expertise. And this is also the basis for this expansion. As a result, Evonik is now in a better position to meet the increased demand for this specific product and to support its customers' growth strategies - not just selectively, but consistently and reliably.

This is also ensured by the sustainable and complete integration of the corresponding raw material flows into the C4 Verbund at the Marl and Antwerp sites. In the spirit of the motto "Chemistry4People®: we create the future of C4Chemistry together with our customers", Evonik is responding, in good time, to changing market conditions and increased customer requirements.

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. In fiscal 2018, the enterprise with more than 32,000 employees generated sales of €13.3 billion and an operating profit (adjusted EBITDA) of €2.15 billion from continuing operations.
MRC

Mitsui Chemicals to shut Osaka cracker for scheduled maintenance in July 2020

MOSCOW (MRC) -- Mitsui Chemicals, is likely to shut its naphtha cracker, for a maintenance turnaround, according to Apic-online.

A Polymerupdate source in Japan, informed that, the company has planned to take its cracker off-stream, in July 2020, for a period of around a month. The exact date of the shutdown, could not be ascertained.

Located in Osaka, Japan, the cracker has an ethylene capacity of 450,000 mt/year and a propylene capacity of 280,000 mt/year.

As MRC informed before, the company last conducted a turnaround at this cracker from mid-June, 2018, to 11-22 August, 2018.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.

Mitsui Chemicals is a leading manufacturer and supplier of value added specialty chemicals, plastics and materials for the automotive, healthcare, packaging, agricultural, building, and semiconductor and electronics markets. Mitsui Chemicals is a Japanese Chemicals company, a part of the Mitsui conglomerate. The company has a turnover of around 15 billion USD and has business interests in Japan, Europe, China, Southeast Asia and the USA. The company mainly deals in performance materials, petro and basic chemicals and functional polymeric materials.
MRC

Exports of caustic soda from Russian increased by 8% in Jan-July

MOSCOW (MRC) -- Russia's exports of caustic soda increased by 8% and amounted to 149,600 tonnes in January-July 2019, according MRC ScanPlast.

At the same period a year earlier exports of caustic soda from the country were 139,100 tonnes.
Russia's exports of liquid caustic soda to other countries grew by 12% and amounted to 122,600 tonnes, while over the same period a year ago, 109,600 tonnes were delivered.

Exports of solid caustic soda from Russia for seven months of this year amounted to 27,000 tonnes, down 9% year on year (29,500 tonnes).

The main countries where the Russian comes caustics were Ukraine (18%), Poland (12%) and the Netherlands (11%).
MRC