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(Plastemart) -- Sinopec’s, Tianjin Petrochemical Corp. plans to shut down its 1 mln tpa ethylene complex for maintenance during till end of September for a 45 day shutdown.
China's Sinopec Corp will shut down 300,000 bpd crude processing facilities at its unit in northern Chinese city Tianjin from Thursday for a planned 45-day turnaround.
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group’s key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.
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Sinopec to shut its units for maintenance
Dow starts polyolefin encapsulant films production
(Plastech) -- Dow Chemical announced that it has begun production in Thailand for enlight polyolefin encapsulant films for use in photovoltaic solar panels. Market demand for these innovative films remains very strong and new production capacity will allow Dow to meen the needs of this fast-growing sector, as per company sources.
The Map Ta Phut, Thailand site is a state-of-the-art manufacturing operation that allows Dow to double global production capacity immediately. Dow is also constructing a third manufacturing site for this film in Schkopau, Germany, which will also bring additional capacity. Dow has had a production facility in Findlay, Ohio, since December 2010.
Dow is dedicated to finding technologies that absorb the power of the sun and bring energy to use in many different ways - through solar farms, through rigid and flexible photovoltaic solar modules, and more. In addition to Enlight Encapsulant Films, Dow also makes Adcote Solvent-based Adhesives and Mor-Free Solventless Laminating Adhesives for backsheet products, electronic materials used to make photoelectric cells, polyglycol heat transfer fluids, and Dow Powerhouse Solar Shingles for residential use.
MRC
Tianjin Petrochemical shuts LLDPE and PP plants
MOSCOW (ICIS-MRC) -- Tianjin Petrochemical has shut its PE and PP units with production capacities of 120,000 tonne/year for linear low density polyethylene (LLDPE) and 60,000 tonne/year for polypropylene (PP) at Tianjin city, China. The production at the plants was stopped on August 15 for a scheduled turnaround, a company source said on Wednesday.
The outage will last for about 45 days. Before the shutdown the facilities operated at their full capacity.
The reduced supply of PE and PP in the market due to the turnarounds will not affect the markets noticeably since the plants' capacity is quite moderate.
MRC
The outage will last for about 45 days. Before the shutdown the facilities operated at their full capacity.
The reduced supply of PE and PP in the market due to the turnarounds will not affect the markets noticeably since the plants' capacity is quite moderate.
MRC
Imports of Russian EPS to Ukraine hit a record
MOSCOW (MRC) - In July, Ukrainian companies have imported 1,760 tonnes of Alfapor grade polystyrene from Perm, according to MRC analysts.
Since the beginning of 2012 the deliveries of Russian EPS to Ukraine have been rising. The main increase fell in April and May 2012, when it was supplied 794 and 1,240 tonnes of the material respectively, from 350 tonnes in February and March. Since the beginning of the year it was imported 6,700 tonnes of EPS by Sibur-Khimprom production.
In July, the imports of Alfapor to Ukraine made 1,760 tonnes, up 65% from June 2012. It should be noted that in July Sibur-Khimprom suspended the production of EPS due to the 10 days' force majeure, which reduced export volumes of the maker.
The imports volumes grew significantly on the back of launching of the second line of 50,000 tonnes/year EPS production in Perm, in May 2012. The production volumes are expected to be increased in Q4 to the maximum level - 100,000 tonnes/year. This allows the Russian maker to increase the presence in the Ukrainian market of EPS, whose share in H1 2012 reached 40% and has the potential to increase further by the end of 2012.
MRC
IVL achieves USD1.7 billion in sales in Q2 2012
(ivl) -- Indorama Ventures Public Company Limited (IVL), the world’s leading vertically integrated Polyester Value Chain producer, achieved consolidated sales of USD1,741 million in the second quarter of 2012 (Q2/2012) and a core EBITDA of USD151 million and core net profit after tax and minority of USD 54 million.
This strong result under current economic conditions was driven partially by volume growth of 13% over Q1 2012, from 1.19 million tons to 1.35 million tons, which has translated into 80% growth of the core EBITDA and 227% growth in core Earning Per Share (EPS).
The recent acquisition of Old World, now renamed Indorama Ventures (Oxide & Glycols) in North America in April 2012 has added a new line of business to IVL and has enabled the group to integrate into MEG (a major feedstock for making Polyester products) for the first time, making IVL the only global polyester producer with integration into both PTA and MEG.
With the acquisition, IVL also gained about 30% market share of merchant PEO (Purified Ethylene Oxide) in North America. Indorama Ventures (Oxide and Glycols) Limited has been incorporated for the first time in IVL in Q2/2012 and is one of the key drivers of earnings growth in the period.
IVL achieved a Core EBITDA per ton of USD 112 in Q2/2012 compared with USD 71 in Q1/2012. The segment EBITDA increased across all platforms with the addition of new businesses. Regionally, North America remained the top performer while Europe was slightly weaker but not significantly so.
IVL net operating debt to equity is 1.1 times in Q2/2012 following the acquisition of Indorama Ventures (Oxide and Glycols) Limited in April 2012, which is higher than the 0.6 times at the end of year 2011.
MRC