Sinopec purchased carbon emission quota from China Resources Group

Sinopec purchased carbon emission quota from China Resources Group

MOSCOW (MRC) -- Chinese giant Sinopec has closed the first bulk agreement transaction on China’s recently launched national carbon market, said Upstreamonline.

Sinopec confirmed it had purchased 100,000 tonnes of carbon emission quota from China Resources Group on 21 July, marking the first bulk agreement transaction since last week’s launch of the national carbon market.

Sinopec has a total of 17 subsidiaries participating in the national carbon market, while its carbon trading business is operated by its wholly-owned subsidiary China International United Petroleum & Chemicals (Unipec).

The company claims to be accelerating the construction of a clean, low-carbon energy supply system as it targets a reduction in its annual methane emission intensity by 50% by 2025.

It forms part of Sinopec’s "one foundation, two wings and three news" strategy, which looks to lay a strong foundation with “energy resources”, strengthen the "two wings" of improving clean oil quality and modern industrial development, while the "three news" covers exploring new energy, new material and new economy.

China is currently the world’s largest emitter of greenhouse gases, but it has set climate goals of reaching peak CO2 emissions by 2030 on its path to carbon neutrality by 2060.

As per MRC, Sinopec Qilu Petrochemical, a subsidiary of one of the world's largest energy and chemical companies, Sinopec, closed on July 9 for unscheduled repairs a high-density polyethylene (LDPE) plant in the city of Zibo (Zibo, China). Thus, maintenance at this enterprise, which can produce 175 thousand tons of LDPE per year, will be carried out within one month, until August 9.

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.

Sinopec Corp. is one of the world's largest integrated energy and chemical companies. Business of Sinopec Corp. includes oil and gas exploration, production and transportation of oil and gas, oil refining, petrochemical production, production of mineral fertilizers and other chemical products. In terms of refining capacity, Sinopec Corp. ranks second in the world, fourth in terms of ethylene capacity.
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Henkel acquires Swania SAS in France

Henkel acquires Swania SAS in France

MOSCOW (MRC) -- Henkel has acquired Swania SAS, based in Nanterre, France, from Milestone Investisseurs and individual shareholders, said the company.

Through this transaction, Henkel expands its position in the market for sustainable laundry and home care products and adds a highly complementary portfolio in very attractive and profitable market segments with a successful innovation track record.

Swania is the fastest-growing French independent player in the ecological home care market. In 2020, the company was even ranked as one of the top 20 fastest-growing consumer companies in France. The portfolio comprises the sustainable brand Maison Verte, which offers a wide variety of products certified with Ecolabel and accounts for more than 60 percent of total sales. Maison Verte is one of the most established sustainable home care brands in France with a very high brand awareness. The brand offers products for laundry and home care as well as for dishwashing. The vegan brand YOU, created for a young, tech-savvy target group and awarded with the Ecocert label, is also part of the portfolio. Traditional and well-known authentic brands Baranne and O’Cedar are completing the product range. In fiscal 2020, Swania generated sales of around 40 million euros.

“In line with our strategic agenda for purposeful growth we aim to create competitive edge through embedding sustainability into our businesses. Through this acquisition, we are adding attractive brands with a strong sustainability performance and compelling growth opportunities to the portfolio of our Laundry & Home Care business,” said Henkel CEO Carsten Knobel.

“We are excited about the opportunity to add the Swania brands to our Laundry & Home Care business. The brands are fast-growing, and the company has a very successful innovation track record. This business is a perfect fit for our existing portfolio, adding highly complementary brands and expanding our position in the attractive market for sustainable laundry and home care products,” said Bruno Piacenza, Executive Vice President Laundry & Home Care at Henkel.

Both parties agreed to not disclose any financial details of the transaction.

As per MRC, Henkel has expanded its gasketing product portfolio by including new materials and technologies that have been specifically designed for the automotive industry. With higher oil resistance and proven lower gas permeability, Loctite AA 5884 is a new polyacrylate gasketing technology that enables customers to enhance the performance and reliability of their products, all while achieving productivity goals and reducing overall costs.

Henkel operates in three business units, including laundry and home care, beauty care and adhesive technologies.

As per MRC, March production of polymers in primary form was 958,000 tonnes versus 861,000 tonnes in February. Overall output of polymers in primary form totalled 2,740,000 tonnes over the stated period, up by 8.5% year on year. 151,000 tonnes of synthetic rubbers were produced in March, compared to 141,000 tonnes a month earlier. Overall, Russian plants produced about 447,000 tonnes of synthetic rubbers in January-March 2021, up by 10.2% year on year.
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Brenntag completes acquisitions in APAC

Brenntag completes acquisitions in APAC

MOSCOW (MRC) -- Brenntag, the global market leader in chemicals and ingredients distribution, made further important steps in strengthening its business in China with the closing of two acquisitions within its Specialties division, said the company.

On July 23, the acquisition of the first tranche (67%) of food ingredients specialist Zhongbai Xingye has been closed. The closing of the second tranche and thus the full acquisition of Zhongbai Xingye is expected to be completed by the end of 2024. In addition, end of June, Brenntag has completed the acquisition of pigments and additives specialist Wellstar Group by acquiring the remaining 49% of shares of the joint venture.

Henri Nejade, Member of the Management Board of Brenntag SE and COO Brenntag Specialties, comments: “Strengthening our Brenntag Specialties division, particularly in China, as well as in the Asia Pacific region in general, is a central pillar of our company’s M&A strategy. I am particularly delighted that we stuck exactly to our timing in both cases and were able to successfully close the important acquisition steps in the dynamic and growing Asian markets as planned."

The Chinese company Zhongbai Xingye is dedicated to the distribution of a wide range of specialty food ingredients, including dairy products and proteins. The acquisition of the leading player in mainland China is an important step for Brenntag to become a full-line distributor of food ingredients in the Asian market. Closing of the second tranche is expected at the end of 2024.

The Wellstar Group is headquartered in Hongkong and operates three subsidiaries in Mainland China located in Shenzhen, Guangzhou, and Shanghai. Since Brenntag acquired a majority stake of 51% with a first tranche in August 2017, the business was operated and successfully developed as a joint venture servicing a broad range of industries. With the closing of the second tranche, the Wellstar Group is 100% owned by Brenntag.

As MRC informed earlier, in April 2020, Brenntag said it had acquired the operating assets of Suffolk Solutions’ (Suffolk, Virginia) caustic soda distribution business. Financial terms of the deal have not been disclosed.

As MRC reported earlier, the May production of sodium hydroxide (caustic soda) amounted to 112,000 tonnes (100% of the main substance) against 101,000 tonnes a month earlier. In the first five months of the year, the total production of caustic soda amounted to 543,000 tonnes, which is 1.4% more than the same indicator of the previous year.
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Sinopec builds disinfectant production plant

MOSCOW (MRC) -- Sinopec Jianghan Salt Chemical Hubei Co. Ltd., a subsidiary of China Petroleum & Chemical Corporation, has completed a trial run of its new 12,000 tons/year concentrated bleaching powder batch feeder.

At present, the Company’s annual disinfectant production capacity exceeds 100,000 tons, making it the world’s largest disinfectant production base.

The disinfectant products are now exported to over 80 countries and territories. The construction of the new 12,000-ton/year disinfectant production plant kicked off in June 2020 and is set to enter operation soon.

The disinfectant leaves no residue after use and can be used for food and drinking water disinfection, water purification, environmental disinfection, animal husbandry, aquaculture, among others.

The product is recognized as a national essential product by five ministries and commissions, including the Ministry of Science and Technology of the People’s Republic of China.

As per MRC, Sinopec Maoming, a subsidiary of one of the world's largest energy and chemical companies - Sinopec, on 18 July halted production at its linear polyethylene (LLDPE) plant in Guangdong province (China) for unscheduled repairs. It is expected that maintenance at this plant with a capacity of 220,000 tonnes of LLDPE per year will continue until 25 July.

According to MRC's ScanPlast, in May, LLDPE supplies to Russia decreased to 35,120 tonnes against 57,110 tonnes a year earlier. Manufacturers reduced the production of PE, and exports also increased. In January-May, LLDPE supplies to the Russian market amounted to 168,190 tonnes, which is 6% more than in 2020. The main growth in demand was provided by film manufacturers.

Sinopec Corp. is one of the largest integrated energy and chemical companies in China. Its principal operations include the exploration and production, pipeline transportation and sale of petroleum and natural gas; the sale, storage and transportation of petroleum products, petrochemical products, coal chemical products, synthetic fibre, fertilizer and other chemical products; the import and export, including an import and export agency business, of petroleum, natural gas, petroleum products, petrochemical and chemical products, and other commodities and technologies.
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PPG to increase production of overvarnish coatings for beverage can exteriors at Ohio plant

PPG to increase production of overvarnish coatings for beverage can exteriors at Ohio plant

MOSCOW (MRC) -- PPG Industries is increasing production of overvarnish coatings for beverage can exteriors at its Delaware, Ohio facility, said the company.

PPG expects the addition of the Delaware plant’s new volume to existing overvarnish capacity at its Oak Creek, Wisconsin, packaging coatings facility will increase the company’s overall production of overvarnish coatings in the U.S. by 40%.

“Beverage can manufacturers around the world are facing unprecedented demand for their products,” said Todd White, PPG general manager, U.S. and Canada, and global strategic accounts, packaging coatings. “With this added capacity, we are committed to helping them meet that demand while adding more security to their supply chain for beverage can coatings."

In addition to increasing supply chain security for its customers and the packaging industry, the Delaware plant will provide in-line analytical capabilities for enhanced batch consistency. “PPG is the largest global supplier of overvarnish and two-piece non-BPA internal beverage coatings,” said Robyn McMillan, PPG global beverage segment manager. “With can makers scaling up, we’re investing in our production capacity to ensure they have localized sources of the PPG coatings that they rely on."

PPG’s Delaware, Ohio, plant employs approximately 400 people and produces resins and coatings for the packaging, industrial and automotive original equipment manufacturer (OEM) markets as well as the automotive refinish and collision market.

As per MRC, PPG Industries announced it will acquired Worwag (Stuttgart, Germany), a producer of liquid, powder and film coatings for industrial and automotive applications. Terms of the transaction, including purchase price, have not been disclosed. The deal is expected to close in the first half of this year. Worwag, a family-owned business, has operations in several countries in Europe, the Americas and Africa, and generates about EUR220 million/year (USD269 million) in revenue. It has about 1,100 employees.

As per MRC, March production of polymers in primary form was 958,000 tonnes versus 861,000 tonnes in February. Overall output of polymers in primary form totalled 2,740,000 tonnes over the stated period, up by 8.5% year on year. 151,000 tonnes of synthetic rubbers were produced in March, compared to 141,000 tonnes a month earlier. Overall, Russian plants produced about 447,000 tonnes of synthetic rubbers in January-March 2021, up by 10.2% year on year.
MRC