Hong Kong Petrochemical to shut PS plant for maintenance

MOSCOW (MRC) -- Hong Kong Petrochemical has shut a polystyrene (PS) plant for maintenance turnaround, according to Apic-online.

A Polymerupdate source in Hong Kong informed that the plant shut early this week. It is likely to remain off-stream for around one month.

Located in Yuen Long industrial estate, Hong Kong, the plant has a production capacity of 140,000 mt/year.

As MRC reported previously, Hong Kong Petrochemical shut down its PS plant in Hong Kong informed for a 10-day maintenance turnaround on 10 February, 2014. Located in Yuen Long Industrial Estate, Hong Kong, the plant has a high-impact polystyrene (HIPS) and general purpose polystyrene (GPPS) capacity of 70,000 mt/year each.

Besides, in September 2014, Styron Hong Kong, an affiliate of Styron, the global materials company and manufacturer of plastics, latex and rubber, shut down its PS plant in Hong Kong for a one-month maintenance turnaround. Located in Hong Kong, the plant has a production capacity of 200,000 mt/year.
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MOSCOW (MRC) -- INVISTA, a subsidiary of Koch Industries, will establish a new manufacturing operation in McPherson, Kansas, in order to expand production of its Raptor nylon pipe product, said Downstreamtoday.

The company plans to complete conversion of an existing building in McPherson into a nylon pipe extrusion facility and expects to begin production by early spring.

"Establishing a production facility in Kansas brings a number of efficiencies to our customers, including reducing delivery time to targeted basins in the Midwest, flexibility in production, and leveraging the capabilities of a skilled central Kansas workforce," said Kurt Burmeister, INVISTA executive vice president. "With demand for our product increasing, we need to increase our production capacity. This is especially true as the current price of oil has led to increased interest in our Raptor™ nylon pipe, given its performance benefits and potential cost-savings."

Efficiently connecting wellheads to battery tanks is one of the areas where companies see the distinct value of Raptor nylon pipe. The product was engineered to reduce total job completion costs (material and installation costs) in order to get oil and gas flowing faster to market. In some cases, choosing Raptor nylon pipe can provide up to USD25,000 per mile in cost savings for customers.

"In addition to producing our existing product portfolio, the new facility in Kansas will allow us to develop future products and react more quickly to urgent customer needs, which we also hope will add significant value to our customers’ operations," added Burmeister.

After extensive research and testing for more than a year, Raptor nylon pipe launched commercially last year, and initial market acceptance has been positive from E&P operators for flow line applications. In addition to the product’s low maintenance cost, E&P companies find the ease and quickness of installation as a major factor in choosing Raptor nylon pipe.

As MRC wrote before, INVISTA Performance Technologies has acquired from La Seda de Barcelona SA intellectual property relating to its leading purified terephthalic acid (PTA), polyethylene terephthalate (PET) and related process technologies, including the full rights to exclusively license the technologies in the region comprising Europe, the Middle East and Africa.

INVISTA is one of the world’s largest integrated producers of chemical intermediates, polymers and fibers. The company’s advantaged technologies for nylon, spandex and polyester are used to produce clothing, carpet, car parts and countless other everyday products. Headquartered in the United States, INVISTA operates in more than 20 countries and has about 10,000 employees.

MOSCOW (MRC) -- Japanese cable manufacturer Sumitomo Electric Industries Inc. has unveiled plans to set up a new production facility in Chisinau, the capital of Moldova, creating between 1,000 and 2,500 new jobs at the plant, the country’s government said in a statement.

The plant will make a wide range of cables, using various plastics. Under the plan, the facility will supply its output to car models within Volkswagen AG, including Czech Republic's Skoda.

Moldovan Prime Minister Iurie Leanca said that currently, more than 50 percent of the goods manufactured by Moldovan-based firms are intended for export sales to the European Union markets, and that the country's government is aiming to attract major foreign investors to set up new production facilities in Moldova.

"Every investment which is made in the national economy is a catalyst for the creation of new jobs," Leanca was quoted in the statement.

The amount of the planned manufacturing project was not disclosed by SE Bordnetze.

Over the past years, the Japanese firm has been expanding its presence in the region of Eastern Europe, with local subsidiaries established in Poland in 2003, in Bulgaria in 2006, and in Romania in 2010. Moldova is located between Romania and Ukraine.

As MRC wrote before, Japan-based Sumitomo Chemical will permanently wind up the operations of an ethylene plant at its Chiba Works in Ichihara, Chiba, in or before September 2015, following a decline in domestic demand for ethylene derivatives.
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MOSCOW (MRC) -- BP Zhuhai Chemical Co Ltd is likely to start a new purified terephthalic acid (PTA), reported Apic-online.

A Polymerupdate source in China informed that the plant is planned to be started in March 2015.

Located in Zhuhai, China, the plant has a production capacity of 1.25 million mt/year.

As MRC wrote before, BP has planned to invest over USD200 million to upgrade its purified terephthalic acid (PTA) plants at Cooper River, South Carolina and Geel, Belgium. The investments will position these assets amongst the most efficient PTA manufacturing facilities in the world.

PTA is the raw material used to make polyethylene terephthalante (PET) and polyester which is found in a wide range of consumer goods ranging from fabrics to food and beverage containers. The BP Cooper River site is the largest PTA producer in the Americas and BP Geel is the largest in Europe.

BP is one of the world's leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.
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MOSCOW (MRC) -- W.R. Grace & Co., a US chemical producer that spent almost 13 years in Chapter 11 bankruptcy, plans to separate into two companies. The shares rose the most in five years, as per Hydrocarbonprocessing.

One of the new companies will comprise Grace's catalysts-technologies and materials-technologies businesses and be led by current CEO Fred Festa, the company said in a statement. The other will contain the construction-products and packaging units and be led by Grace chief operating officer Greg Poling.

Grace is "effectively spinning out its more economically sensitive construction products business," said Ahmed Alamin, a New York-based analyst at Cowen & Co. who rates the shares the equivalent of buy.

Grace, which exited bankruptcy protection in February 2014, expects that creating two companies with simplified structures will allow management to better focus on strategy and productivity. A similar breakup strategy has been recommended by activist investors pushing for higher returns at Grace competitors DuPont and Dow Chemical.

"We think it sets up two very strong companies to pursue their agendas," chief financial officer Hudson La Force III said on a conference call Thursday. La Force will join the catalysts company.

As MRC informed earlier, in December 2013, W.R. Grace completed the acquisition of the assets of the Polypropylene Licensing and Catalysts business of The Dow Chemical Company for a cash purchase price of USD500 mln. The acquisition includes UNIPOL Polypropylene Process Technology and makes Grace the second largest polypropylene licensor in the world based on installed capacity, advancing Grace's leadership in the broader polyolefin sector.
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