Bioplastics maker Good Natured Products completed acquisition of Ex-Tech Plastics

MOSCOW (MRC) -- Vancouver-based bioplastics maker Good Natured Products Inc. has completed its acquisition of Ex-Tech Plastics Inc., an extruder of rigid plastic sheets headquartered in Richmond, Ill., for USD14.1 mln, said Canplastics.

First announced in May, the deal includes all of Ex-Tech’s operating assets along with real estate owned by a related company, ETP Inc. Founded in 1982, Ex-Tech produces a variety of plastic sheet and film products, including extruded roll stock for thermoformed packaging. Ex-Tech operates seven different extrusion lines in a dedicated 75,000-square-foot facility. The company’s customers serve a diverse set of end markets, including retail, food, and medical packaging, and are primarily located in the midwestern and southwestern U.S.

"We’re very pleased to announce the completion of this acquisition and welcome everyone at Ex-Tech to the ‘good natured’ family,” said Paul Antoniadis, CEO of Good Natured. “Ex-Tech’s trailing 12-month revenue of approximately CAD$33 million for the period ended Dec. 31, 2020, will significantly accelerate our revenue growth for the back half of this calendar year."

Ex-Tech, which generated revenue of approximately US$25.8 million for the calendar year ended Dec. 31, 2020, has the capacity to produce compostable PLA and plant-based PET roll stock to support organic growth and conversion of existing and future petroleum-based acquisition targets. Good Natured reported “minor customer overlap” between Ex-Tech and Integrated Packaging Films, which was acquired in December 2020, with the potential to open additional cross-selling opportunities.

The acquisition is Good Natured’s third in the past year: in March 2020, it bought Brampton, Ont.-based Shepherd Thermoforming & Packaging Inc.; and in December it acquired Ayr, Ont.-based extrusion sheet maker IPF Holdings Inc.

As per MRC, in a move designed to expand its distribution area, Italian compostable bioplastics supplier Novamont has acquired BioBag Group, a Norway-based supplier of low-impact solutions for waste collection and packaging. The financial terms of the deal have not been disclosed. Both companies have worked together for more than two decades, and Novamont expects the acquisition to increase its geographic reach to areas where it is less present.

Ethylene and propylene are the main feedstocks for the production of PE and PP, respectively.

According to MR''s ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

Founded in 2006 and formerly known as Solegear Bioplastic Technologies Inc., Good Natured is a plant-based products and packaging company that designs, produces, and distributes bioplastics for use in packaging and durable product applications. The company changed its name to Good Natured Products in 2017.
MRC

MOSCOW (MRC) -- Netherlands-based specialty chemicals distributor company IMCD NV announced the acquisition of Shanghai Yuanhe Chemicals in China, the company said.

Yuanhe, established since 2003, is a specialty coatings, textile, and ink solution distributor for the China market. It generated a revenue of EUR 13.2 million in 2020 and adds 20 employees to the IMCD China team. This enhances the portfolio of IMCD China which serves the pharmaceutical, food and nutrition, plastics, and personal care industries.

“Combining forces with Yuanhe provides IMCD a strategic move into the China coatings market and complements the sustainability ambition of our global Coatings & Construction Business Group with a strong focus on environmental-friendly coatings solutions,” said Frank Schneider, Business Group Director, IMCD Coatings & Construction.

"We are excited to join IMCD to make a difference in the marketplace of coatings, textile and ink solutions through technical expertise and global connections. With IMCD’s reputation for professionalism and industry focus, plus Yuanhe’s strong local presence and customer base, we will create many more opportunities for our loyal customers and principal partners. We look forward to the integration with IMCD,” commented Sherry Li, Owner and Managing Director of Yuanhe.

The acquisition will boost IMCD China’s technical capabilities with the addition of a full-scale formulation lab in Shanghai, further strengthening IMCD’s global network of technical centres. Financial details of the transaction were not disclosed.

As per MRC, IMCD N.V., a leading distributor of speciality chemicals and ingredients, announced that it has successfully signed an agreement to acquire the personal care business of Ejder Kimya.

Ethylene and propylene are the main feedstocks for the production of PE and PP, respectively.

According to MR''s ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.
MRC

MOSCOW (MRC) -- In a deal described as creating one of the largest energy infrastructure companies in Canada – and that includes a major polypropylene (PP) resin plant – Pembina Pipeline Corp. is acquiring Inter Pipeline Ltd., said Canplastics.

The deal between the two Canadian energy firms is valued at USD15.2 billion, officials with Pembina said in a June 1 news release. Both firms are based in Calgary, Alta.

Pembina and Inter Pipeline shareholders are expected to own 72 per cent and 28 per cent of the combined company, respectively. The combined entity will continue to be led by Pembina’s senior executive team. Representation from Inter Pipeline on Pembina’s board of directors will be determined prior to closing of the transaction, which is expected in the fourth quarter of 2021.

The deal includes the Inter Pipeline’s Heartland Petrochemical Complex (HPC), which is currently being built in Strathcona County, Alta. The HPC is designed to convert locally sourced, low-cost propane into 525,000 tonnes per year of PP when production begins, which is expected in early 2022.

"After a comprehensive review of strategic alternatives…it was evident that a combination with Pembina offered compelling value for Inter Pipeline shareholders in the short-term, as well as the opportunity to participate in the upside of HPC and the combined business longer-term,” Margaret McKenzie, Inter Pipeline’s Chair of the Board of Directors, said in the news release. “The creation of a more highly integrated business across the energy infrastructure value chain results in a combined entity that is greater than the sum of its parts. The combined asset suite, financial strength, and operational foundation, makes us highly confident that the transaction will translate into significant value for all stakeholders, both immediately and into the future."

As per MRC, Pembina Pipeline booked a Canadian dollar (CD) 323m (USD256m) impairment charge in Q4 on its share of a planned integrated propane dehydration/polypropylene (PDH/PP) project in Alberta province.

According to MRC's ScanPlast report, Russian plants' total PP production fell to 160,500 tonnes in April from 182,600 tonnes a month earlier, ZapSibNeftekhim reduced its capacity utilisation because of a shutdown for a short turnaround. Russia"s overall PP production reached 693,300 tonnes in January-April 2021, compared to 597,900 tonnes a year earlier. Five out of seven producers increased their capacity utilisation, with Poliom and SIBUR Tobolsk/ZapSibNeftekhim accounting for the greatest growth in the output.
MRC

MOSCOW (MRC) -- Brazilian state-run oil company Petroleo Brasileiro SA has begun the sale process for its 27.88% stake in the Deten Quimica SA petrochemical complex in the northeastern state of Bahia, said Reuters.

Petrobras is seeking bidders for its 27.88% stake in Deten Quimica, a Brazilian producer of linear alkyl benzene (LAB), the state-controlled energy producer said on Wednesday.

Petrobras has started distributing information about the sale, such as eligibility requirements for the bidders, the company said. Deten is Brazil's sole producer of LAB.

Deten's remaining 72% stake is owned by Cepsa.

As per MRC, Petroleo Brasileiro SA (Petrobras) has not signed an agreement with antitrust regulator Cade on additional commitments regarding refinery divestments. Petrobras has been trying to sell refineries in one of the world's largest fuel markets for almost a decade and it relauched its plan under Chief Executive Officer Roberto Castello Branco, who took office in January 2019.

Ethylene and propylene are the main feedstocks for the production of PE and PP, respectively.

According to MR''s ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras" activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
MRC

MOSCOW (MRC) -- A huge fire broke out at an oil refinery in the southern part of the Iranian capital Tehran on Wednesday, reported Reuters with reference to Iranian state media, saying there were so far no reports of casualties.

Iran’s semi-official Tasnim news agency said all operations had been suspended at the facility, known as the Tondguyan refinery, as firefighters tried to contain the blaze.

“A leak at a liquid gas pipeline at the facility sparked the fire,” Mansour Darajati, the head of Tehran’s crisis management organisation, told state TV.

The cause of fire will be investigated, he added. Shaker Khafaii, head of the Tehran Oil Refining Co, which runs the refinery, ruled out the possibility of sabotage, Iran’s state TV reported.

We remind that, as MRC informed before, Indian Oil Corp, the country's top refiner, said in late May that it would resume purchases of Iranian oil if Washington lifts sanctions against Tehran over its disputed nuclear programme. The European Union official leading talks to revive Iran's nuclear deal said he was confident an agreement would be reached as the negotiations adjourned, although European diplomats said success was not guaranteed with very difficult issues remaining.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.
MRC