South Korean Hyundai Oilbank targets listing in 2022

South Korean Hyundai Oilbank targets listing in 2022

MOSCOW (MRC) -- Hyundai Oilbank, the refinery unit of Hyundai Heavy Industries Holdings, has decided to pursue a listing in the South Korean market during 2022, reported Reuters with reference to Hyundai Heavy' statement in a regulatory filing.

Hyundai Oilbank had previously pursued a listing in 2018 but had delayed the plan until this year due to regulatory scrutiny of its balance sheet.

Hyundai Heavy Industries Holdings held 74.1% of the refiner as of end-March, while Saudi Aramco owns 17% of the refiner through an overseas unit, according to a Hyundai Oilbank filing.

As MRC informed earlier, Hyundai Oilbank shut its one crude distillation (CDU) unit, a residual desulphurises and a fluid catalytic cracker (FCC) unit at its Daesan refinery for a maintenance turnaround on April 8, 2020. The refinery remained off-stream for around 30-45 days. Located at Daesan in South Korea, the refinery has a crude processing capacity of 395,000 bpd.

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 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.
MRC

PP imports to Ukraine increased by 4% in January-May

MOSCOW (MRC) -- Ukraine's polypropylene (PP) imports totalled about 49,800 tonnes in January-May of this year, up 4% year on year.
The volumes of imports of propylene copolymers have increased, according to MRC DataScope.

May PP imports into Ukraine increased to 10,100 tonnes from 9,700 tonnes a month earlier. Local companies have increased their supply of injection moulding propylene block copolymers (PP block copolymers). Overall imports of propylene polymers reached 49,800 tonnes in January-May 2021, compared to 47,700 tonnes a year earlier. At the same time, external supplies of exclusively propylene copolymers increased, while imports of homopolymer PP decreased.

The structure of PP imports by grades looked the following way over the stated period.

In the last month of spring, external supplies of propylene homopolymers to the Ukrainian market exceeded 6,600 tonnes due to the Middle Eastern producers, while in April this figure was about 6,400 tonnes. Thus, overall homopolymer PP imports reached 36,400 tonnes in the first five months of 2021, down 2% year on year.

Last month's imports of block copolymers of propylene (PP block copolymers) were about 1,400 tonnes, compared to 1,000 tonnes in April, demand for injection moulding PP block copolymers increased. About 5,300 tonnes of PP block copolymers were imported in the five months of this year, compared to 4,100 tonnes a year earlier.

May PP random copolymers imports decreased to 1,800 tonnes from 1,900 tonnes a month earlier, supplies of pipe polypropylene decreased.
Overall imports of PP random copolymer reached 6,600 tonnes in the first five months of 2021 versus 5,800 tonnes a year earlier. Overall imports of other propylene copolymers totalled slightly over 1,400 tonnes over the stated period.


MRC

Air Products plans hydrogen complex in Alberta province

Air Products plans hydrogen complex in Alberta province

MOSCOW (MRC) -- US industrial gases major Air Products will work with Canada’s federal government and the Alberta provincial government on a planned net-zero hydrogen energy complex in Edmonton, Alberta, said the company.

Air Products, the world leader in hydrogen production, and its subsidiary Air Products Canada Ltd., in conjunction with the Government of Canada and the Province of Alberta, today announced a multi-billion dollar plan to build a landmark new net-zero hydrogen energy complex that will make Edmonton, Alberta the centre of western Canada’s hydrogen economy and set the stage for Air Products to operate the most competitive and lowest-carbon-intensity hydrogen network in the world.

Canada’s clean energy diversification strategy and regulatory framework make clear that hydrogen is a key enabler for carbon neutrality by 2050. Aligned with that vision, Air Products began work in 2018 on the core of this world-scale energy complex in Edmonton, which will begin with a transformative USD1.3 billion (CAD) net-zero hydrogen production and liquefaction facility expected onstream in 2024. This project has been approved by Air Products’ Board of Directors, subject to final completion of the agreements contemplated in signed Memorandums of Understanding between Air Products and Canadian authorities, and with appropriate permit approvals. This development is consistent with Air Products’ growth strategy of executing global megaprojects that enable a transition to a cleaner, more sustainable energy future.

The project relies on an innovative combination of well-established technologies to jump-start an ambitious transition to carbon neutrality. It will take advantage of Canada’s abundant and low-cost natural resources, extensive infrastructure, highly skilled workforce, and innovative spirit to be a model for other jurisdictions around the globe.

"We sincerely appreciate the support of the Government of Canada, the Government of Alberta, Invest Alberta, the ayor of Edmonton and Edmonton Global. We are proud to expand our presence in this dynamic region, where we have found a vision for decarbonization that mirrors our core values,” said Seifi Ghasemi, Air Products’ Chairman, President and Chief Executive Officer. “Sustainability is our pathway to growth and central to Air Products’ business every day around the world. By being a first mover and investing in this innovative landmark project, we are paving the way for hydrogen from Edmonton to meet industrial and transportation needs throughout western Canada. Our highly integrated project will be a model for net-zero atmospheric gas, hydrogen and power production consistent with our announced growth platforms."

As MRC informed earlier, Air Products and Chemicals Inc is “prepared” to invest USD10 billion in Indonesia, including in a project involving the state oil company and a coal firm, the secretary general of Indonesia’s National Energy Council said. “Air Products has sent a letter to the government of Indonesia. They are prepared to invest USD10 billion,” Djoko Siswanto told CNBC Indonesia on Thursday. He said the first USD2 billion would be invested in a project with state coal miner PT Bukit Asam and state oil company PT Pertamina.

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 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

(USD1 = CD1.21)
MRC

Subsidiary of Indorama Ventures appointed Mr.Tommi Bjornman as its new CEO

Subsidiary of Indorama Ventures appointed Mr.Tommi Bjornman as its new CEO

MOSCOW (MRC) -- Avgol, a subsidiary of global petrochemical producer Indorama Ventures Public Company Limited (IVL), appointed Mr. Tommi Bjornman as its new CEO, replacing Mr. Shachar Rachim who will focus on his broader role as CEO of IVL’s Hygiene vertical in its Fibers segment, said the company.

Mr. Bjornman’s new position with Avgol, the global leader in high-performance nonwoven fabric solutions, took effect on 1 June, 2021. The Hygiene business is one of 16 integrated verticals under Indorama Ventures, and comprises brands including Avgol, Auriga, FiberVisions, ES FiberVisions, Trevira and Wellman. The Hygiene vertical provides fibers and filaments used in hygiene, medical, personal protective equipment (PPE) and industrial disposable applications as well as durable textile applications used for automotive interiors, furnishings, wall and window coverings and related goods. Mr. Bjornman continues to report to Mr. Rachim who retains his role as an Avgol Board member.

Mr. Shachar Rachim, CEO – Hygiene Vertical at Indorama Ventures, said, “Avgol has been successfully building a portfolio of sustainable and high-performance products that focus on taking customer applications into the next generation. In my new role, I am thrilled to continue working closely with the leadership team at Agvol on exciting innovations, while taking on broader responsibility for the other fiber companies within the vertical."

Mr. Tommi Bjornman, CEO at Avgol, said, “This is an exciting time for everyone here at Avgol as we continue to develop and launch new nonwoven fabric solutions. While closely supporting our customers through these ongoing challenging times, we are setting ourselves up for the future. I am thrilled that we will continue to build on the foundation Shachar has set. At the same time, we will show the industry Avgol’s resolve on being a viable partner for change."

As MRC informed earlier, Indorama Ventures Public Company Limited, a global petrochemical producer, has started developing a new technology center under its Integrated Oxides & Derivatives (IOD) business at The Woodlands, Texas. The new facility will be the company’s U.S. research and development hub for new products used in the home, personal and industrial cleaning, agrochemicals, energy, lubricants, mining, and coatings markets.

IVL’s integrated oxides and derivatives site at The Woodlands, Texas, was acquired from Huntsman in January last year. The Woodlands facility will also support IVL’s fibres and PET segments on various sustainability projects.Extensive designing and engineering of the research center will start in coming months, and full occupation is expected in early 2022. It will be a hub for IOD research in the Americas, with links to sister facilities in Australia, India, and China. The Woodlands facility will also support IVL’s Fibers and PET segments on various sustainability projects. IVL, the world’s biggest maker of fully recyclable PET bottles, is investing USD 1.5 billion to towards its recycling and net zero targets.

As per ScanPlast, Russia's calculated consumption of polyethylene terephthalate (PET) grew to 263,660 tonnes in the first four months in 2021, up 13% compared to the same period in the previous year. 78.3% of the increase in consumption falls on the share of bottled PET chips due to the virtual absence of exports and an increase in the volume of imports.
MRC

Sumitomo Demag makes new personnel additions and appointments

Sumitomo Demag makes new personnel additions and appointments

MOSCOW (MRC) -- Injection molding machine manufacturer Sumitomo (SHI) Demag Plastics Machinery North America Inc., headquartered in Suwanee, Ga., has announced a series of new hires and appointments, said Canpastics.

Bob Brady has joined the company in the newly created position of business development manager – medical/healthcare. A 30-year industry veteran, Brady comes to Sumitomo from SMC Ltd., where he was a new process development/validation manager. He also worked for Nypro, which was acquired by Jabil in 2013, where he was a global project manager.

Dan Anderson, who has 10 years of experience in the plastics industry, has rejoined Sumitomo as a regional sales manager. He had been with the company from 2013 to 2015 and has also worked for LK Machinery International Ltd. and Arburg.

Tony Marchelletta, who first joined the company in 2010 as a regional sales manager for the Midwest, has been appointed national sales manager. His experience prior to joining Sumitomo includes sales management positions with Autojectors, Milacron, and QSI Automation. Marchelletta also is an active member of the Washington, D.C.-based Plastics Industry Association, and serves on its Equipment Council, Committee on Equipment Statistics and NPE Operations Committee.

Chad Mefford, who joined Sumitomo in 2018 as inside sales manager, has been appointed general manager of sales and Georgia/Illinois operations. His experience includes working at IMS Gear Holding Inc., Alutrim NA, Neaton Automotive Products Manufacturing Inc., Pentaflex Inc., and Yamada North America.

As MRC informed earlier, Sumitomo Demag Plastics Machinery, a major global manufacturer of injection molding machines, opened its Hungarian subsidiary die Sumitomo (SHI) Demag Plastics Machinery Hungaria Kft in Torokbalint on 5 October. The plant will produce injection molding machines.

As MRC reported, a subsidiary of the Japanese-German concern Sumitomo (SHI) Demag had previously planned to open a plant in the Kaliningrad region. The investor intended to develop the business within the framework of the automotive cluster, which will be created in the region by Avtotor Holding and envisaged the creation of 21 factories for the production of cars and components.

Sumitomo (SHI) Demag was formed in 2008 through the merger of Sumitomo Heavy Industries (SHI) and Demag Plastics Group. Today the concern is one of the leading manufacturers of plastic processing and molding equipment. The company's products are used in medicine, electronics, and the automotive industry. Sumitomo Group currently has 37 companies. The factories of the concern are located in Japan, Germany and China.
MRC