Polyestertime

Lithuanian Neo Group will launch a new line of PET at the end of June – The Lithuanian Neo Group, one of Europe’s largest producers of polyethylene terephthalate (PET), plans to launch a new PET line in Klaipeda, Lithuania at the end of June 2018 – Lithuanian Neo Group line PET June

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Lithuanian Neo Group will launch a new line of PET at the end of June

Lithuanian Neo Group line PET June MOSCOW ( MRC ) – The Lithuanian Neo Group, one of Europe’s largest producers of polyethylene terephthalate (PET), plans to launch a new PET line in Klaipeda, Lithuania at the end of June 2018, ICIS reported citing a source in the company.

The capacity of the new line will be 160 thousand tons of PET per year. At the moment the company manages two lines of similar capacity. Earlier it was reported that the launch was to take place in the first quarter of this year.

According to the Price Review of ICIS-MRC , in 2017 the import of PET-granulate produced by Neo Group to Russia decreased more than 2 times to 0.65 thousand tons against 1.75 thousand tons a year earlier. During the four months of this year, Neo Group’s supplies to the Russian market continued to decline and dropped sharply to 24 tons against 335 tons in the same period last year.

Closed Joint Stock Company (CJSC) “Neo Group” is one of Europe’s largest producers of polyethylene terephthalate (PET) pellets. The company’s enterprises are located in Lithuania, not far from Klaipeda seaport. The total production capacity of the plants is 320,000 tons per year, which is 12% of the production of PET in Europe. CJSC “Neo Group” is a part of the Retal Industries group, the leader in the production of PET preforms.

mrcplast.ru

Author:                Anna Larionova

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Europe PP sellers pushing for higher prices but volumes a priority – Polypropylene (PP) sellers are still pushing for higher prices in May but volumes are also a priority – Europe PP sellers higher prices

Europe PP sellers higher prices Europe PP sellers higher prices  Europe PP sellers higher prices  Europe PP sellers higher prices  Europe PP sellers higher prices  Europe PP sellers higher prices  Europe PP sellers higher prices  Europe PP sellers higher prices  Europe PP sellers higher prices  

Europe PP sellers pushing for higher prices but volumes a priority

Source:ICIS News

LONDON (ICIS)–Polypropylene (PP) sellers are still pushing for higher prices in May but volumes are also a priority, according to buyers on Wednesday.

Europe PP sellers higher prices The May propylene contract rose by €25/tonne, and buyers said sellers began the month attempting to cover this upstream rise, and sometimes more, but that upward pressure had eased to an extent by mid-month.

“Everybody is committed to selling volumes,” said one. “Priority is [for] volume.”

Sources said they were cutting volumes with sellers that were insisting on big price hikes, and that there was plentiful supply in some grades.

Homopolymer was more widely available than copolymer, and random grades were balanced, with no oversupply.

Spot prices were generally higher, and a low of €1,140-1,150/tonne FD (free delivered) NWE (northwest Europe) was seen by many for homopolymer commodity grades.

The recent drop in the €/$ rate meant that new offers for July imports were expected to be higher.

Another development was in the upstream crude and naphtha markets.

Brent crude was trading close to $80/bbl, and naphtha was up by around €45/tonne compared to when the May propylene contract settled. Such a rise in costs was likely to lead to upward pressure on the June propylene contract and potentially on PP pricing.

For the moment there was little concern from buyers.

PP is used in packaging, the manufacture of household goods, and also in the automotive industry.

Europe PP sellers higher prices (Picture source: Eye Ubiquitous/REX/Shutterstock)

By Linda Naylor
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Aquafil, turnover growing – The sales of Aquafil in the first quarter of this year increased by 1.5% to 147.4 million euro – Aquafil turnover polymers carpet yarns

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Aquafil, turnover growing 
The sales of Aquafil in the first quarter of this year increased by 1.5% to 147.4 million euro. The increase is driven by the polymers branch, while the sales of carpet yarns are reduced, the most “commodity” product, that is, economically speaking, more raw material and therefore with less marginality.

Aquafil, fatturato in crescita

In 3 mesi utile di 10 milioni

Aquafil turnover polymers carpet yarns

Il fatturato di Aquafil nel primo trimestre di quest’anno aumenta dell’1,5% a 147,4 milioni di euro. L’incremento è spinto dal ramo polimeri, mentre si riducono le vendite di filo per moquette, il prodotto più «commodity», cioè, economicamente parlando, più materia prima e quindi con meno marginalità. I margini invece crescono in modo sostenuto e l’utile netto trimestrale fa un balzo del 20% a quasi 10 milioni. Sono i dati principali al 31 marzo approvati ieri dal cda della società trentina quotata in Borsa.

Ma l’espansione delle vendite, soprattutto nel nuovo ramo dei prodotti col nylon riciclato Econyl, arriverà presto. Aquafil sta investendo in tutto non meno di 46 milioni di dollari in acquisizioni e nuovi impianti di riciclo dei materiali usati, di cui almeno 26 milioni (fino a 31) in Cina – 11,3 per l’acquisizione del ramo Asia della statunitense Invista, tra 15 e 20 per il raddoppio dello stabilimento di Jiaxing – e 20 milioni negli Usa, tra il primo impianto di riciclo a Phoenix e il secondo in cantiere a Sacramento.
Solo in Asia il fatturato aggiuntivo sarà di circa 50 milioni. E la quota di Econyl è salita al 38% del fatturato globale, con sempre più marchi della moda che utilizzano il nylon verde per l’abbigliamento sportivo. Dallo scorso 19 aprile la nuova linea di abbigliamento ecosostenibile in Econyl è in vendita nella catena commerciale H&M.

«Siamo molto soddisfatti di come si è aperto il 2018 e dei risultati ottenuti a parità di perimetro – commenta Giulio Bonazzi, presidente e amministratore delegato del gruppo – Inoltre, a distanza di poche settimane dalla quotazione, abbiamo portato a termine diversi progetti straordinari. L’evento più significativo è l’acquisto da Invista delle attività relative al mercato di nylon 6 Bcf nell’area Asia Pacific, che ci consentirà di consolidare e accelerare la nostra presenza in quest’area con un tasso di crescita particolarmente elevato e di cui si inizieranno a vedere i benefici economici a partire da metà del secondo trimestre. Nel contempo abbiamo avviato l’impianto di carpet recycling Acr#1 in Arizona, il primo di una serie di nuovi insediamenti produttivi volti all’ulteriore incremento di Econyl, un sistema unico al mondo nell’ambito dell’economia circolare».

L’Ebitda (margine lordo) di Aquafil aumenta del 7,4% a 22,3 milioni, mentre l’incidenza sui ricavi sale dal 14,3% al 15,1%. L’utile netto balza del 20,3% a 9,8 milioni. La posizione finanziaria netta (indebitamento netto) cresce da 112,1 a 135,8 milioni a seguito degli investimenti del periodo.

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Morgan Stanley Sees Oil Climbing To $90 By 2020 – Forget Iran and OPEC. There’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley’s oil outlook – Morgan Stanley Crude Oil $90 2020

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Morgan Stanley Sees Oil Climbing To $90 By 2020

Morgan Stanley Crude Oil $90 2020

Morgan Stanley expects the squeeze on oil supplies to get worse, pushing oil up to $90 by 2020. (©Tomasz Zajda/stock.adobe.com)

BLOOMBERG NEWS

Forget Iran and OPEC. There’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley’s oil outlook.

Brent crude will reach $90 a barrel by 2020 as new international shipping regulations take effect. The regulations will overhaul the types of fuels produced by refiners, the bank’s analysts said in a report.

The changes will force vessels to consume lower sulfur fuels beginning in January 2020. This will lead to a boom in demand for middle distillate products including diesel and marine gas oil, triggering the need for more crude, they said.

“We foresee a scramble for middle distillates that will drive crack spreads higher and drag oil prices with it,” wrote Morgan Stanley analysts including Martijn Rats.

Rules Add To Supply Cuts

Crude has already received a price boost due to OPEC supply cuts, geopolitical events and the U.S. decision to reimpose sanctions on Iran. The regulatory changes will add to the impact. Global benchmark Brent, which neared $80 a barrel earlier this week, is trading at the highest levels since late 2014. Futures for the January 2020 contract are at about $66.60 a barrel.

The International Maritime Organization’s rule changes will call for ships to reduce the maximum sulfur content of their fuels to 0.5%, from 3.5% in most regions currently. The goal is to curb air pollution that has been linked to respiratory diseases and acid rain. The changes are expected to create an oversupply of high-sulfur fuel oil while sparking demand for IMO-compliant products. This will put pressure on the refining industry to produce more of the latter fuels.

Middle distillate markets are already showing signs of tightness, according to Morgan Stanley.

Shale Oil Not Ideal

With the IMO ship-fuel regulations expected to boost demand by an additional 1.5 million barrels a day by 2020, traders will seek to get the right product supplies. This should boost crude prices, according to the bank. While global crude production will rise, it probably won’t increase by the 5.7 million barrels a day needed by 2020 to meet the additional demand, the analysts said.

“The last period of severe middle distillate tightness occurred in late-2007/early-2008 and arguably was the critical factor that drove up Brent prices in that period,” Rats wrote. Crude oil prices approached $150 a barrel in 2008.

U.S. oil output, now at a record, likely won’t come to the rescue. The crude pumped in America’s shale regions is light and not ideal for producing middle distillates, Morgan Stanley noted.

“We expect the crude oil market to remain undersupplied and inventories to continue to draw,” the bank said. “This will likely underpin prices.”

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DOMO Engineering Plastics to Exhibit at Plastpol 2018 – DOMO Engineering Plastics is part of DOMO Chemicals, a German based, worldwide operating polyamide expert and material engineering company – DOMO Engineering Plastics Plastpol 2018

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DOMO Engineering Plastics to Exhibit at Plastpol 2018



PREMNITZ, Germany/PRNewswire/ —

DOMO Engineering Plastics will be participating at the upcoming Plastpol 2018 in Kielce, Poland from the 22nd to the 25th of May 2018 at hall E, booth E-28.

DOMO Chemicals

DOMO Engineering Plastics is part of DOMO Chemicals, a German based, worldwide operating polyamide expert and material engineering company. The strength of its full range offer on the East European market is its high and stable worldwide reputed product quality and expertise, its customized service, and its innovative drive.

DOMO Engineering Plastics

Domo Engineering Plastics has production facilities in GermanyItaly, US, India and China. Our local sales, customer service and technical service teams are dedicated to provide solutions for a multitude of industries, from automotive, to E&E, oil and gas, sports & leisure, consumer goods and industrial applications.

Products highlighted on the Plastpol are DOMAMID®, polyamide PA6 and PA66 based compounds for developed for high fluidity, stiffness and aesthetic appeal, ECONAMID®, PA6 and PA66 compounds, based on environmentally sustainable feedstock (low CO2 footprint), offering a sustainable choice for many applications in a wide variety of markets and THERMEC™, compounds with enhanced performance at high temperatures.

DOMO will also showcase 2 new materials, ECONAMID® AIR, a carbon fiber reinforced sustainable polyamide range for lightweight and sustainability solutions with top mechanical performances, and THERMEC™ ZED, designed for high-end 3D applications.

Note for the editor:

About DOMO Engineering Plastics

DOMO Engineering Plastics, part of DOMO Chemicals group, develops and manufactures high performance technopolymers for several industrial sectors including automotive, electrical and electronic, industrial and consumer goods. It has production sites and sales offices in ItalyGermanythe United StatesChina and India.

To learn more visit us at https://www.domochemicals.com/en/products/engineering-plastics

Press Contacts

Elisabetta Testa
Marketing 
DOMO Engineering Plastics
T: +39-0464-587-650
M: +39-348-45-01-211
elisabetta.testa@domo.org

Michal Prochazka
Sales Manager
DOMO Engineering Plastics GmbH
M: +420-602-615-189
michal.prochazka@domo.org

SOURCE DOMO Engineering Plastics GmbH

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Car parts group Faurecia targets steady rise in sales from 2020 – Faurecia, 46-percent owned by Peugeot-maker PSA, said it was targeting sales growth of more than 7 percent per year to reach 20 billion euros ($23.8 billion) by 2020 – Car parts group Faurecia 2020

Car parts group Faurecia 2020 Car parts group Faurecia 2020  Car parts group Faurecia 2020  Car parts group Faurecia 2020  Car parts group Faurecia 2020  Car parts group Faurecia 2020  

Car parts group Faurecia targets steady rise in sales from 2020

Faurecia, 46-percent owned by Peugeot-maker PSA, said it was targeting sales growth of more than 7 percent per year to reach 20 billion euros ($23.8 billion) by 2020, compared with the company’s 2017 turnover of 16.96 billion euros.

Car parts group Faurecia 2020 PARIS: French car parts group Faurecia outlined plans on Tuesday to increase its sales via growth in areas such as autonomous driving, and new high-tech vehicles.

Faurecia, 46-percent owned by Peugeot-maker PSA, said it was targeting sales growth of more than 7 percent per year to reach 20 billion euros ($23.8 billion) by 2020, compared with the company’s 2017 turnover of 16.96 billion euros.

The company’s 2020 financial targets also include an operating margin of 8 percent of sales, and net cash flow of 4 percent of sales. Faurecia aims to achieve a 30 billion euro overall sales figure by 2025.

“Faurecia’s strategy is perfectly aligned with the four automotive megatrends: connectivity, autonomous driving, ride-sharing and electrification,” Chief Executive Patrick Koller said in a statement.

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EU Could Switch To Euros In Oil Trade With Iran – EU Euros Crude Oil Trade Iran

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EU Could Switch To Euros In Oil Trade With Iran

EU Euros Crude Oil Trade Iran

The European Union (EU) is considering switching to euros instead of U.S. dollars in the oil trade with Iran, Sputnik reported on Wednesday, quoting a diplomatic source.

Europe—collectively one of Iran’s biggest oil customers after China and India—is trying to salvage the Iran nuclear deal after President Donald Trump withdrew the U.S. from the pact and paved the way to renewed sanctions on Iran, including on its energy sector and crude oil sales.

Iran, for its part, said as early as in mid-April that it would be switching to euros from U.S. dollars in reporting foreign currency amounts, to reduce the reliance on the dollar as it was expected that President Trump would not waive the sanctions this time around.

The EU vowed on Tuesday to seek ways to work and trade with Iran.

“We, together, regretted the withdrawal of the United States from the Iran nuclear deal and we recognised that the lifting of nuclear-related sanctions and the normalisation of trade and economic relations with Iran constitute essential parts of the agreement,” the European Union’s High Representative for Foreign Affairs and Security Policy, Federica Mogherini, said on Tuesday after meeting with the foreign ministers of the UK, France, and Germany, and separately with Iran’s foreign minister.Related: Will $100 Oil Kill The U.S. Economy?

The EU has launched expert discussions with Iran aiming to arrive at practical solutions in the next few weeks, Mogherini said. The issues that the talks will address include “maintaining and deepening economic relations with Iran; the continued sale of Iran’s oil and gas condensate petroleum products and petrochemicals and related transfers; effective banking transactions with Iran; continued sea, land, air and rail transportation relations with Iran; the further provision of export credit and development of special purpose vehicles in financial banking, insurance and trade areas, with the aim of facilitating economic and financial cooperation, including by offering practical support for trade and investment.”

The EU’s pledge to continue trading with Iran comes as Europe continues to buy Iranian oil, but some refiners and traders are flagging financing issues as having the potential to stop crude trade with Iran. Another big hurdle to Iran’s crude oil exports could be issues with the insurance of tankers carrying oil out of Iran, experts have warned, while some shipping companies are already refusing to commit tankers to new Iranian cargoes, for fear of complications in the cargo and insurance related payments.

By Tsvetana Paraskova for Oilprice.com

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