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Barentz Maroon Group to acquire distributor in US midwest

March 05/2021

MOSCOW (MRC) -- Barentz International, through its Maroon Group subsidiary, says it has acquired The Cary Companys (Chicago, Illinois) raw materials and specialty chemicals distribution business, said Chemweek.

The business operates in the paint, coatings, adhesives, and sealants markets. Terms of the deal, including purchase price, were not disclosed.

"Following the acquisition of Maroon Group in December 2020, we established a platform in North America from which we could pursue targeted growth through strategic acquisitions and expansion opportunities with our principal suppliers," says Hidde van der Wal, CEO of Barentz.

The acquired business will become part of Barentzs North American coatings, adhesives, sealants, and elastomers (CASE) and plastics unit. Brian Ehlert and its current management team will continue to lead the business on its day-to-day basis. Warehousing and logistics services for the business will continue to be provided by The Cary Company.

We remind that the COVID-19 outbreak has led to an unprecedented decline in demand affecting all sections of the Russian economy, which has impacted the demand for petrochemicals in the short-term. However, the pandemic triggered an increase in the demand for polymers in food packaging, and cleaning and hygiene products, according to GlobalData, a leading data and analytics company. With Russian petrochemical companies having the advantage of access to low-cost feedstock, and proximity to demand-rich Asian (primarily China) and European markets for the supply of petrochemical products, these companies appear to be well-positioned to derive full benefits from an improving market environment and global economy post-COVID-19.

We also remind that in December 2020, Sibur, Gazprom Neft, and Uzbekneftegaz agreed to cooperate on potential investments in Uzbekistan including a major expansion of Uzbekneftegazs existing Shurtan Gas Chemical Complex (SGCC) and the proposed construction of a new gas chemicals facility. The signed cooperation agreement for the projects includes the creation of a gas chemical complex using methanol-to-olefins (MTO) technology, and the expansion of the production capacity of the Shurtan Gas Chemical Complex".

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,220,640 tonnes in 2020, up by 2% year on year. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, polypropylene (PP) shipments to the Russian market reached 1 240,000 tonnes in 2020 (calculated using the formula: production, minus exports, plus imports, excluding producers' inventories as of 1 January, 2020). Supply of exclusively PP random copolymer increased.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, ethylene, propane, neftegaz, petrochemistry.
Category:General News
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