MOSCOW (MRC) -- TEC Project Services Corporation (President and CEO Takayoshi Imanishi), a domestic subsidiary of Toyo Engineering Corporation and Taisei Corporation (President and CEO Yoshiro Aikawa) have concluded a business alliance agreement in the field of pharmaceuticals and fine chemicals, said the company.
This business alliance is intended to mutually utilize and complement resources such as technologies, know-how, and human resources, which are the strengths of both companies, in the advanced pharmaceutical and fine chemical markets, to be expandable.
Through the synergy of both companies, we will grasp a wide range of customer needs to meet their satisfaction by realizing effective proposals and project execution with high value in quality.
As MRC informed earlier, Toyo Engineering Corporation (TOYO) was awarded a project to construct a naphtha cracking furnace of Tosoh Corporation for producing ethylene at its Yokkaichi Complex in October. Toyo had participated in this construction project from an early stage. This naphtha cracking furnace employs advanced technology developed by CB&I Technology Inc. (Lummus Technology) with which TOYO maintains a mutually beneficial relationship for more than half a century. The cracking furnace is of the latest type with improved ethylene yield based on Lummus’ method, which is the first to be introduced in Japan.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,760,950 tonnes in the first ten months of 2020, up by 3% year on year. Only high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased. At the same time, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.
MRC