Maire Tecnimont: Awards for €220 MLN in the core business

MOSCOW (MRC) -- Maire Tecnimont S.p.A. announces that its main subsidiaries have been granted several awards for a total amount of approximately EUR220 million for engineering and procurement services, as well as EPC activities, according to Europetrole.

Thus, KT - Kinetics Technology S.p.A. has been awarded the ISBL Package, in the framework of the HORIZON Project, by Total Raffinage France, part of Total Group, a major energy player active in more than 130 countries.

The project mainly consists of a new Hydrotreatement Unit on an Engineering, Procurement, Construction, and Commissioning (EPCC) basis to be realized in the Donges Refinery, in Western France. The Hydrotreater will have a capacity of 40 thousand barrel per day. Project completion is planned in 2023. This new achievement - which is the third project for Total in the last decade - confirms the capability of KT to be considered the contractor of choice in the refining business for a number of world class clients.

Pierroberto Folgiero, Maire Tecnimont Group CEO, commented: "These awards, including that by a prestigious client such as Total, reinforce Maire Tecnimont positioning in the core business and are another milestone in our technology-driven development strategy."

As MRC reported before, in November 2019, Total disclosed that it is evaluating construction of a new gas cracker at its Deasan, South Korea, joint venture (JV) with Hanwha Chemical.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).

Maire Tecnimont S.p.A., a company listed on the Milan Stock Exchange, leading an international industrial group which is a leader in the transformation of natural resources (plant engineering in downstream oil & gas, with technological and execution competences). Through its subsidiary NextChem it operates in the field of green chemistry and the technologies to support the energy transition. Maire Tecnimont Group operates in about 45 countries, through 50 operative companies and a workforce of approximately 6,300 employees, along with approximately 3,000 professionals in the electro-instrumental division.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.

MOSCOW (MRC) -- Hengli Petrochemical, has resumed operations at its propylene unit following a planned outage, as per Apic-online.

A Polymerupdate source in China informed that, the company has restarted the unit on March 9, 2020. The unit remained under turnaround for about one week.

Located in Liaoning, China, the propylene unit has a production capacity of 450,000 mt/year.

As MRC informed before, Hengli started up the 450,000 tons/year Phase I polypropylene (PP) plant in May 2019 and launched its Phase II PP plant by end of November 2019.

Propylene is the main feedstock for the production of PP.

According to MRC's ScanPlast report, the estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).
MRC

MOSCOW (MRC) -- Chester, N.S.-based GN Thermoforming Equipment has appointed Alberto Capodicasa as its new sales manager for Mexico and Central and South America, said Canplastics.

Based in Nova Scotia, Capodicasa is a native of Venezuela and fluent in English, Spanish, and Italian, has many years of experience in various sales positions, most recently as regional sales manager with LED Roadway Lighting Ltd.

"Alberto will travel extensively and work on the ground with our local agencies in the Mexican, Central and South American markets,” said Paul Phillips, GN’s sales and marketing manager. “GN has a lot of thermoforming machines in the region and Alberto is well equipped to support our agents and customers as we continue to grow."

As MRC informed earlier, extrusion machinery maker Davis-Standard LLC has acquired Thermoforming Systems LLC (TSL), a manufacturer of thermoforming equipment for the North American food packaging industry. The terms of the deal have not been disclosed.

As per MRC' DataScope, overall imports of PC granules to Russia (excluding shipments from Belarus) grew in the first month of 2020 more than by 3 times year on year to 2,590 tonnes. Imports of material into the country were 740 tonnes in January 2019. December 2019 imports of material to Belarus reached 2,850 tonnes. Extrusion grade PC accounted for the greatest increase in January imports. Their share rose significantly in the total imports of material into the Russian Federation to 82% (2,100 tonnes) from 44% (32,000 tonnes) in January 2019.

GN manufactures roll-fed thermoformers for the production of high-quality plastic packaging, and has installed more than 1,500 thermoformers in total. The company’s operation also includes a technical service and sales centre in Jihlava, Czech Republic.
MRC

MOSCOW (MRC) -- US Kraton Corporation completed the sale of its Cariflex business to South Korean-based Daelim Industrial, said the company.

The sale was completed for USD530m in cash. The divestment, announced in October, follows a strategic review Kraton announced last February.

The company produces specialty polymers and biobased products derived from pine wood. It signed the agreement to sell its Cariflex business last October.

Kraton’s polymers are used in several applications such as adhesives, consumer and personal care products, coatings, medical, packaging, automotive, sealants and lubricants, paving and roofing applications.

Its pine-based specialty products are sold to the adhesives, roads, construction and tyre markets.

Kraton produces and sells a wide range of performance chemicals to markets such as fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks, flavours, fragrances and mining.

Kraton president and CEO Kevin M Fogarty said: “We are pleased to announce that we have completed the sale of our Cariflex business to Daelim Industrial. We believe Daelim is well-positioned to invest in and grow the Cariflex franchise as it continues to expand its global business.

“We thank the Cariflex team for their significant contributions, not only for developing Cariflex, but for continuing to grow the business over the years, and we wish them continued success in the future.

“As previously communicated, we intend to use the net proceeds from the Cariflex sale principally for debt reduction. Following the closing of this important transaction, we remain committed to continuing to improve our overall capital structure, and this sale is an important step in that regard.”

JP Morgan Securities served as financial advisor to Kraton, while Baker McKenzie was the legal advisor.

UBS Securities served as financial advisor to Daelim and Paul Hastings served as legal advisor.

As MRC informed earlier, Kraton Performance Polymers, a leading global manufacturer of styrene block copolymers (SBC) and other complex polymer products, has announced that it has changed its name to Kraton Corporation.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).
MRC

MOSCOW (MRC) -- Finnish refining and renewable fuels company Neste has acquired a minority stake in Sunfire, a German developer and supplier of high-temperature electrolysers and electrolysis technology, said the company.

Electrolysis is the key technology in the power-to-X platform, enabling the production of emission-free renewable hydrogen and conversion of carbon dioxide (CO2) into fuels, chemicals and materials.

"Sunfire’s highly efficient technology and world-class expertise in power-to-X, together with our proven track record in commercialising new sustainable technologies, provides an excellent basis for further development of the power-to-X solutions," said Neste’s CEO, Peter Vanacker.

In addition to the equity investment, Neste will work with Sunfire on a project designed to demonstrate the production of renewable hydrogen, using Sunfire’s high-temperature electrolyser, Neste added.

Financial details were not disclosed.

Dresden, Germany-based Sunfire develops and produces high-temperature electrolysers and high-temperature fuel cells based on solid oxide cell technology.

As MRC informed earlier, Neste, together with several European Union Member States and forerunner companies representing different parts of the European plastics sector, have signed the European Plastics Pact in Brussels, Belgium. The European Plastics Pact aims to accelerate cross-border exchange and collaboration on a pan-European scale to supplement and support the already existing European and global commitments as well as the existing national and company initiatives on the circularity of plastics value chain.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,093,260 tonnes in 2019, up by 6% year on year. Shipments of all PE grades increased. PE shipments rose from both domestic producers and foreign suppliers. The estimated PP consumption in the Russian market was 1,260,400 tonnes in January-December 2019, up by 4% year on year. Supply of almost all grades of propylene polymers increased, except for statistical copolymers of propylene (PP random copolymers).
MRC