Sipchem announces appointment of chairman of board

MOSCOW (MRC) -- Saudi International Petrochemical (Sipchem) has announced that the board of directors approved by circulation on 27 October 2019 the appointment of Khalid A Al-Zamil as Sipchem chairman till the end of the current board cycle on 9 December 2019, reported Refining&Petrochemicals.

Al-Zamil has various practical experiences in engineering and management. He holds a bachelor’s degree in civil engineering from Southern California University in the United States.

As MRC wrote before, in March 2018, Sipchem said it was planning to resume proposed merger talks with Sahara Petrochemical 2260.SE in a deal that could create a 14.7 billion riyals (USD3.9 bln) chemicals company. The two companies called off a planned merger in 2014, citing an inadequate regulatory framework in the kingdom for the collapse.

As in early April, 2019, Sahara Petrochemicals announced that its current CEO, Salah Mohammed Bahmdan, would head up the new group that will be formed from its merger with Sipchem. Abdullah Saif Alsaadoon, Sipchem’s CEO, will be appointed as chief operating officer of the combined company. The companies disclosed last December that they had agreed to a merger of equals in a move they estimate to yield synergies of up to 225 million Saudi riyal, or $60 million, by the end of the third year after completion.

Besides, we remind that on 29 December, 2014, Sipchem started a new ethyl vinyl acetate (EVA) film plant. Located at Hail in Saudi Arabia, the plant has a production capacity of 4,000 mt/year.

According to MRC's DataScope report, September EVA imports to Russia fell by 22,7% year on year to 3,420 tonnes from 4,430 tonnes in September 2018, and overall imports of this grade of ethylene copolymer into the Russian Federation decreased in January-September 2019 by 18,2% year on year to 29,190 tonnes (35,690 tonnes in the first nine months of 2018).

Established in 1999, Saudi International Petrochemical Company (Sipchem) manufactures and markets methanol, butanediol, tetrahydrofuran, acetic acid, acetic anhydride, vinyl acetate monomer. Besides, it has launched several down-stream projects to manufacture ethylene vinyl acetate, low density polyethylene, ethyl acetate, butyl acetate, cross linkable polyethylene, and semi conductive compound that are scheduled to start in 2013.
MRC

MOSCOW (MRC) -- Shenhua Baotou has brought on-stream its coal-to-olefin plant following a maintenance turnaround, as per Apic-online.

A Polymerupdate source in China informed that the company has completed maintenance turnaround at its plant in early-November, 2019. The plant was taken off-line for maintenance in mid-September, 2019.

Located at Baotou City, China, the plant have ethylene and propylene production capacity of 300,000 mt/year each.

As MRC reported before, Shenhua Baotou shut its polypropylene (PP) plant for a planned maintenance on September 18, 2019. The plant was expected to remain under maintenance for about six weeks. Located at Baotou City, China, the PP plant has a production capacity of 300,000 mt/year.

Shenhua Baotou also runs linear low density polyethylene (LLDPE) plant at the same site. The company conducted maintenance at its LLDPE plant from 12 September to late September, 2017. Located at Baotou City, China, the plant has a production capacity of 300,000 mt/year.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year. Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.
MRC

MOSCOW (MRC) -- Dalian Yisheng Co Ltd has started up its new polyethylene terephthalate (PET) bottle plant by last weekend, reported CommoPlast with reference to market sources.

Based in Dalian, China, the new plant has a production capacity of 350,000 tons/year. The company is ramping up its production rate and expected to have prime grade by this week.

We remind that, as MRC wrote previously, another major Chinese PET producer - Shaoxing Reignwood Petrochemical - took off-stream a purified terephthalic acid (PTA) plant for maintenance on September 20, 2019. The plant was slated to remain under maintenance for about a week. Located at Shaoxing in China, the PTA plant has a production capacity of 1.4 mmt/year.

According to MRC's ScanPlast report, Russia's estimated PET consumption dropped in September 2019 by 10% year on year, totalling 58,210 tonnes. Overall, 551,320 tonnes of PET was processed in Russia in the first nine months of 2019, up 9% year on year.

Yisheng Petrochemical is jointly owned by polyester giants Zhejiang Hengyi Group and Zhejiang RongSheng Group.
MRC

MOSCOW (MRC) -- Demand for EPS boards in the Ukrainian market subsided in the first ten months of 2019 by 15% year on year, according to ICIS-MRC Price report.

It decreased in October 2019 by 12% year on year.

At the same time, consumption of EPS boards remained at the last month's level in late October.

A major converter said sales of finished products had been at the same level since early September.

As reported earlier, a season of strong demand continued in the Ukrainian EPS boards market in October. Demand for finished products was by an average stronger from major converters last month than that from small- and medium-sized ones.
MRC

MOSCOW (MRC) -- SIBUR-Khimprom has reduced its expandable polystyrene (EPS) prices for November shipments to Ukrainian buyers by USD45/tonne, according to ICIS-MRC Price report.

Thus, November prices of material for the Ukrainian market dropped to USD1,230/tonne FCA Voronezh, excluding VAT.

At the same time, the Russian producer did not limit buyers' orders for this month's shipments.

Meantime, SIBUR-Khimprom raised its October EPS prices for Ukraine by USD5/tonne to USD1,275/tonne FCA Voronezh, excluding VAT.

SIBUR-Khimprom (part of SIBUR Holding) specializes in the processing of liquid hydrocarbons and is one of the leading Russian producers of a number of the most important petrochemical products. The company has three main production capacities: production of butyl alcohols and 2-ethylhexanol with a capacity of 160,000 tonnes per year, production of ethylbenzene (220,000 tonnes per year), styrene monomer (SM) production (135,000 tonnes per year) and polystyrene (PS) production (100,000 tonnes per year), ethylene and propylene unit, production of eco-friendly plasticizer DOTF (100,000 tonnes per year).
MRC