PQ Group to change name to Ecovyst

PQ Group to change name to Ecovyst

MOSCOW (MRC) -- PQ Group Holdings Inc., a leading integrated and innovative global provider of specialty catalysts and services, has announced that as early as August 2, 2021, the company intends to change its corporate name to Ecovyst Inc. following the targeted closing of the Performance Chemicals business sale, according to BusinessWire.

Ecovyst Inc. will comprise two businesses, Ecoservices and Catalyst Technologies, formerly Refining Services and Catalysts, respectively.

Ecovyst common shares will continue trading on the New York Stock Exchange under the new ticker symbol, ECVT, with a new CUSIP number of 27923Q 109, which is expected to occur on or about August 3, 2021.

As MRC reported earlier, in December 2019, PQ Group Holdings Inc. announced an agreement with INEOS Polyolefin Catalysts to commercialize certain polyethylene (PE) catalysts to customers of selected processes.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased.

PQ Group Holdings Inc. is a leading integrated and innovative global provider of specialty catalysts, chemicals and services. The company supports customers globally through our strategically located network of manufacturing facilities. The company has three uniquely positioned specialty businesses: Refining Services provides sulfuric acid recycling to the North American refining industry; Catalysts serves the packaging and engineering plastics and the global refining, petrochemical and emissions control industries; and Performance Chemicals supplies diverse product end uses, including personal and industrial cleaning products, fuel efficient tires, surface coatings, and food and beverage products.
MRC

Geon Performance Solutions expands its PVC compounding lines

Geon Performance Solutions expands its PVC compounding lines

MOSCOW (MRC) -- GEON Performance Solutions is making significant investments in additional, new, state-of-the-art equipment to enhance its North America capacity and innovation capabilities, said the company.

The expansion is already underway at the company’s facility in Dyersburg, Tennessee with a new wire and cable flexible line slated for operation at full capacity by the end of July. GEON will also convert one of its existing compounding lines in Dyersburg to PVC compounding. It is expected that the conversion will be operational by year-end. These expansions represent a significant diversification of GEON’s compounding capabilities. The Dyersburg facility manages contract-tolling services for many Fortune 50 companies and polypropylene production for the automotive industry. During the pandemic, it was idled for an extended period due to its dependency on automotive production. This expansion should diversify the markets served and help to mitigate future impacts of market slowdowns.

These two lines represent an additional 120M lbs. in capacity investment and will further strengthen the company’s PVC compounding capabilities. GEON continues to bring value-added process technology to customers, enabling them to differentiate their products in automotive, wire & cable and building & construction applications.

“This represents another major step forward for GEON as an innovation leader in the industry and is an integral part of our strategic plan for the company,” says Tracy Garrison, Chief Executive Officer of GEON. “This capital investment in capacity and technology will expand our innovation capabilities across our PVC, polypropylene and plasticizer businesses, and provide us the ability to grow with best in class assets."

This announcement comes at a time when the petrochemical industry is suffering from raw material shortages due to winter storm URI that caused electricity outages and plant shutdowns on the gulf coast. GEON, having multiple facilities across the country, helped customers to navigate their supply issues. This new investment will allow GEON to deliver even greater reliability and options for production.

"We continue to proactively serve our customers by anticipating needs and studying market trends,” says Garrison. “Our investments reflect our growth as a company and further demonstrate our commitment to our customers and innovation." In addition to these investments, GEON has unlocked over 20M lbs. of additional annualized capacity utilizing Lean Six Sigman methodology (LSS).

Earlier it was reported that the production of polyvinyl chloride (PVC) in the US and Canada in June significantly exceeded the average for the past five years, as domestic sales rose sharply. PVC production in the United States was halted due to February frosts along the Gulf Coast of Texas and Louisiana when they were forced to turn off their electricity.

According to the ICIS-MRC Price Report, the Russian PVC market remains unchanged, a serious shortage of resin remains, and prices have reached another record high. By Monday, the Bashkir Soda Company and Sayanskkhimplast stopped their production for routine maintenance.

GEON Performance Solutions is a global leader in the formulation, development and manufacture of performance polymer solutions. With a portfolio of highly adaptable vinyl and polyolefin polymer technologies as well as a full-service manufacturing business, GEON combines three powerful traditions into a single, customer-focused business. GEON Performance Solutions is a leading innovator in the development of performance material solutions for a broad range of markets including appliances, building & construction, electronics, healthcare, transportation, wire & cable and more. GEON Performance Solutions has 1,100 global associates and 10 world-class manufacturing plants with headquarters in a western suburb of Cleveland, Ohio. Visit geon.com to learn more. GEON Performance Solutions is a portfolio company of SK Capital Partners.
MRC

Indian Oil to build first green hydrogen plant in the country at its Mathura refinery

Indian Oil to build first green hydrogen plant in the country at its Mathura refinery

MOSCOW (MRC) -- India's largest oil firm Indian Oil Corporation (IOC) will build the nation's first 'green hydrogen' plant at its Mathura refinery, as it aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy, according to Business Stanard.

IOC has drawn a strategic growth path that aims to maintain focus on its core refining and fuel marketing businesses while making bigger inroads into petrochemicals, hydrogen and electric mobility over the next 10 years, its chairman Shrikant Madhav Vaidya said.

The company will not set captive power plants at all its future refinery and petrochemical expansion projects and instead use the 250 MW of electricity it produces from renewable sources like solar power, he told PTI in an interview.

"We have a wind power project in Rajasthan. We intend to wheel that power to our Mathura refinery and use that electricity to produce absolutely green hydrogen through electrolysis," he said.

This will be the nation's first green hydrogen unit. Previously, projects have been announced to produce 'grey hydrogen' using fossil fuels such as natural gas.

Green hydrogen production - the ultimate clean hydrogen resource - uses renewable energy to create hydrogen fuel.

IOC's refinery expansion plans include raising the capacity of units at Panipat in Haryana and Barauni in Bihar and setting up a new unit near Chennai.

"We are going to add 25 million tonnes of our refining capacity by the year 2023-24. We are 80.5 million tonnes now including CPCL, we are going to be 105 million tonnes," he said.

Vaidya said IOC was pushing ahead with research on carbon capture, utilisation and storage technologies - space where it is seeking global collaboration to meet its Paris climate goals. Hydrogen, he said, would be a fuel of the future. IOC is planning to set up several hydrogen production units on a pilot basis.

This includes a project at Gujarat refinery to produce finite purity hydrogen of 99.9999 per cent for hydrogen fuel cell buses. "Today, 50 buses in Delhi are being fueled by hydrogen-spiked compressed natural gas, or H-CNG, which has 18 per cent hydrogen content," he said adding hydrogen fuel cell buses will be put to service on iconic routes of Vadodara-Sabarmati and Vadodara-Statue of Unity, Kevedia.

"About 15 fuel-cell-powered buses, with the fuel cells entirely India-made, are expected to ply in the second half of 2021. Since running these buses would require hydrogen, IOC is setting up a plant, whose capacity could be anywhere between 200 tonnes and 400 tonnes per day," he added.

Petroleum refining and marketing will continue to be IOC's core businesses with much higher petrochemicals integration. Also, gas will play a larger role and the firm will have a presence in electric mobility space through charging stations at petrol pumps and a planned battery manufacturing unit.

As MRC informed earlier, Indian refiners, anticipating a lifting of US sanctions, plan to make space for the resumption of Iranian imports by reducing spot crude oil purchases in the second half of the year. The world's third-largest oil consumer and importer halted imports from Tehran in 2019 after former US President Donald Trump withdrew from a 2015 accord and re-imposed sanctions on the OPEC producer over its disputed nuclear programme.

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 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.
MRC

Chandra Asri to supply distributes liquid oxygen to several hospitals in DKI Jakarta and Banten

Chandra Asri to supply distributes liquid oxygen to several hospitals in DKI Jakarta and Banten

MOSCOW (MRC) -- PT Chandra Asri Tbk (TPIA), a petrochemical company, distributes 210 tons of liquid oxygen to several hospitals in DKI Jakarta and Banten, said the company.

This supply would answer the demand for liquid oxygen regarding the COVID-19 pandemic response. Erwin Ciputra, President Director of Chandra Asri, claims that the liquid oxygen provision is a way of the company helping the COVID-19 patients in hospitals. “This relief would be channelled to Mayapada Hospitals in Jakarta and Banten, which are a part of Indonesia Regional Hospitals Association,” Ciputra explains in a press conference.

According to Ciputra, the overflowing liquid oxygen demand rises following the surge in COVID-19 cases. As a result, the government is boosting liquid oxygen production up to 922.9 tons per day from its current maximum production capacity of 1,700 tons per day.

On the other occasion, Jonathan Tahir, CEO of Mayapada Healthcare Group, confirms that Chandra Asri delivers 90 tons of liquid oxygen to Mayada. “These would assist the patients currently struggling with COVID-19,” he adds.

The need for liquid oxygen jumps to 1,000 tons per day from the previous 400 tons per day. With this massive surge of COVID-9 cases, the government even predicts the number could go up to 2,600 tons per day.

As per MRC, last year, Chandra Asri (CAP), one of the largest petrochemical producers in Indonesia, received commercial products in the second week of July at its linear polyethylene (LDL) / low density polyethylene (HDPE) plant in Cilegon (Cilegon, Indonesia) and started the process there. capacity building. So, since May 22, the company was forced to reduce the capacity utilization at this enterprise with a capacity of 400 thousand tons of LLDPE / HDPE per year due to various technical problems.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High density polyethylene (HDPE) shipments decreased.

Основные владельцы Chandra Asri – таиландская Siam Cement Group (30%) и индонезийская PT Barito Pacific и (64,87%).
MRC

Sika acquires American Hydrotech in the USA and its affiliate Hydrotech Membrane Corporation in Canada

Sika acquires American Hydrotech in the USA and its affiliate Hydrotech Membrane Corporation in Canada

MOSCOW (MRC) -- Sika, a producer of construction chemicals, has acquired American Hydrotech Inc. in the USA and its affiliate Hydrotech Membrane Corporation in Canada, as per the company's press release.

Hydrotech is an experienced and highly regarded liquid membrane manufacturer and provider of full-system roofing and waterproofing solutions. In the fastgrowing green/garden roof segment, Hydrotech is the clear North American market leader.

The acquisition strengthens Sika’s roofing and waterproofing portfolio, and complements Sika’s sustainability focus. In 2020, the acquired company generated sales of CHF 83 million.

With this acquisition, Sika will become the number one supplier of green roofs in North America. Furthermore, Sika gains a new growth platform with the expanded offering of complete roofing and waterproofing systems. The two companies have a similar corporate culture with highly motivated people and a strong focus on sustainable, reliable, long-lasting, solutions and customer relationships, and therefore fit together perfectly.

As MRC informed earlier, in November 2020, Sika commissioned a manufacturing facility in Dubai, United Arab Emirates (UAE), which produces epoxy resins aimed at flooring solutions. Sika has decided to invest in the expansion of its manufacturing facilities at the Dubai site in order to increase flexibility in production, shorten delivery times, optimize cost structures, and reduce inventories.

And in April 2021, Sika expanded its production capacity for concrete admixtures and has started manufacturing epoxy resins in Qatar. Epoxy resins are key components in high-quality floor coverings and adhesives. With its enlarged portfolio and its local production capacity, Sika wants to exploit market potential and drive forward the focused expansion of its business in the region.

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 101 countries around the world and manufactures in over 200 factories. Its more than 20,000 employees generated annual sales of CHF 7.09 billion in 2018.
MRC