Pankaj Poddar, CEO, Cosmo Films Ltd., talks about the March quarter performance, impact of COVID on business, expansion plans, order book and new product launch plan among others during a candid chat with Swati Khandelwal, Zee Business.
Pankaj Poddar, CEO, Cosmo Films Ltd., talks about the March quarter performance, impact of COVID on business, expansion plans, order book and new product launch plan among others during a candid chat with Swati Khandelwal, Zee Business. Edited Excerpts:
A: The biggest highlight of our performance was the 20% plus growth was recorded in our specialty sales. Going forward, we are projecting good growth in the specialty sales. We have told our investors in the past that by March 2023, we will convert 70% of our volume to the specialty. But the current progress suggests that we will be able to meet the target in advance, in fact, it seems that we will meet the target in the next 12 months. So, the performance will remain strong in the future as well.
Despite being touted as solution to plastic waste problem, biodegradable plastics are not given chance to decompose Sustainability R-PET Petrochemicals
For average customers, one of the easiest ways to pursue a green lifestyle is to purchase eco-friendly products.
To target these customers and raise their brand images, companies in South Korea are rolling out eco-friendly products one after another, including some made of biodegradable plastic.
Typically made from natural materials such as corn starch, biodegradable plastic is designed to break down naturally when it goes to landfills.
However, these efforts – and extra expenses — might be in vain, as most of these products are incinerated after they are thrown away. Even if they end up in landfills, it is likely that they don’t break down as promised, since none of the landfills in South Korea provides conditions suitable for them to biodegrade.
“Most of the waste is either incinerated or recycled, so whether the product is biodegradable isn’t really important.
Eastman is increasing capacity for its Naia-brand cellulosic filament yarn at its plant in Barcelona, Spain, said the company. Sustainability R-PET Petrochemicals
Eastman is increasing its capacity to produce Naia cellulosic filament yarns at its plant Barcelona, by 30% by mid-2021, and by more than 50% by the end of 2022.
Naia is responsibly sourced from sustainably managed pine and eucalyptus forests and plantations. Eastman holds FSC and PEFC Chain of Custody certification, and all suppliers also hold internationally recognised forestry certifications. The yarns are produced in a safe, closed-loop process in which solvents are recycled back into the system for reuse. It is OEKO-TEX Standard 100 Product Class I certified and made with no hazardous chemicals listed on the ZDHC Manufacturing Restricted Substances List.
Key benefits of fabrics based made with Naia are dimensional stability, odour management, easy stain removal and pill resistance, along with natural breathability and quick drying properties.
пїЅThe growing importance of sustainability and circularity are accelerating the adoption of sustainable fibres,пїЅ said Burt A. Capel, Eastman vice president and general manager of fibres. пїЅAs a result, Naia cellulosic filament yarn is gaining a lot of traction among our customers,”. “Our vision is to make sustainable fashion accessible to all, and we have a very committed team at our Barcelona site actively working to bring this expansion onstream as soon as possible to serve our customers across the globe.”
Major petrochemical producers Dow, LyondellBasell and Nova Chemicals have launched a closed loop circular plastics fund to advance the circular economy and accelerate recycling of polyethylene (PE) and polypropylene (PP) in the US and Canada. Sustainability R-PET Petrochemicals
The fund, managed by US-based circular plastic investment firm Closed Loop Partners, started with an initial investment of $25mn. The aim is to grow the fund to $100mn through further investments by the founders and adding more stakeholders, as well as recycle around 230,000t of plastics over the fund’s lifespan.
Plastic sustainability has become increasingly important for petrochemical producers worldwide because of environmental pressure to reduce plastic waste. The fund complements initiatives that Dow, LyondellBasell and Nova have put in place in their value chains. Dow has formed a partnership with UK-based Mura Technology to advance plastic recycling efforts, while LyondellBasell is targeting to produce 2mn t/yr of recycled polymers by 2030. Nova last month launched 100pc post-consumer resins for flexible film applications.
Chinese state-controlled oil firm Sinopec plans to build its first green hydrogen project in Ordos, Inner Mongolia, by 2022, which will help meet its goal of becoming China’s top hydrogen firm by 2025.
The project, which will use renewables to produce 10,000 t/yr of green hydrogen, has been included in Inner Mongolia’s key projects for 2021. Hydrogen produced from the project, which will use wind and solar energy, will be consumed by Sinopec’s Zhongtian Hechuang coal-to-chemicals project in Ordos.
The project will help Sinopec achieve its target to become the number one hydrogen company in China by 2025 and reduce Zhongtian Hechuang’s carbon emissions, Sinopec said. Sinopec has also announced a goal to reach carbon neutrality by 2050, 10 years ahead of the national target. Sustainability R-PET Petrochemicals
Sinopec previously announced plans to build 1,000 hydrogen refuelling stations — 100 by the end of this year — as well as 5,000 charging stations and 7,000 distributed photovoltaic power stations by 2025. But senior management said in March that just 10 out of 27 refuelling stations it piloted last year were fully operational. And only two stations — in Guangdong and Shanghai — have broken even.
Pertex has launched the Pertex Fabric Lab, a brand-new online platform, designed to build even closer relationships and deeper collaboration with its trusted brand partners. The Pertex brand, based in Japan, has established itself as the leader in lightweight technical fabrics and is today partnered with the most prestigious brands in the outdoor industry. Sustainability R-PET Petrochemicals
The Fabric Lab’s extensive functionality includes a fully searchable fabric library, high-definition photography, complete fabric data, and material sustainability insights. Users are able to curate their own fabric selections, order swatches, and samples at the click of a button; and to submit R&D requests. Further functionality including 3D visualisation and fabric data will be added in forthcoming updates, the company said in a press release.
Complete Pertex branding and marketing tools, including hangtags and labelling, will be accessible through the Fabric Lab, and will serve as a hub for the latest news about the Pertex Brand. The Fabric Lab is the next evolution in the way designers and materials teams connect and interact with Pertex.
EU economic sentiment rose in May to highs last seen in 2017 as the easing of lockdown measures across Europe fuelled optimism, the European Commission said on Friday. Sustainability R-PET Petrochemicals
The EU executive body’s indices for sentiment and employment expectations rose both in the EU and the 19-country eurozone, with both indicators well above the long-term average.
The EU’s indices mirror the PMI indices compiled by IHS Markit measuring activity in manufacturing and services; the flash PMI estimate for May showed the economy expanding at its fastest rate in 15 years.
The EU’s vaccination campaign has finally gained momentum after initial issues in distribution in the first quarter; according to analysts at Oxford Economics the economy is currently “rebounding strongly”.
However, a potential boom in consumption would fail to be equally distributed around the bloc if the tourism summer season fails to properly take off in the EU southern countries, they added.
“It is urgent the EU ‘pass health’ is put in place to ensure every country benefit from this consumption windfall,” said the analysts, referring to a potential vaccination passport allowing those who have been jabbed to move freely around the 27-country bloc.
Nissan Qashqai will use Novelis aluminum in the hood and doors to reduce weight and increase fuel efficiency.
Aluminum rolling and recycling company Novelis, headquartered in Atlanta, says it will supply Nissan aluminum body sheet for the all-new Qashqai SUV and create a closed-loop recycling system in Europe. Sustainability R-PET Petrochemicals
The Nissan Qashqai will incorporate Novelis aluminum in the hood and doors to reduce weight and increase fuel efficiency. By using aluminum, the Qashqai has achieved 21 kilograms (46 pounds) of the total 60 kilograms (132 pounds) of body-in-white weight savings compared with the previous model.
“We are delighted to provide Nissan with sustainable aluminum body sheet solutions as they continue to design lighter, more fuel-efficient vehicles with reduced life-cycle emissions,” says Michael Hahne, vice president of automotive, Novelis Europe, which is based in Zurich. “Novelis is uniquely positioned to meet the increasing demand for automotive aluminum given its unmatched global footprint and ability to develop innovative, sustainable solutions. We look forward to working with Nissan as they continue to adopt more aluminum and increase their recycling capabilities.”
Novelis and Nissan also have established a closed-loop recycling system. Novelis will deliver aluminum from its plant in Nachterstedt, Germany, to Nissan’s car plant in Sunderland U.K., where it will then collect the manufacturing scrap and return it to Novelis recycling centers in Europe to be cast and rolled again for production by Nissan. This process creates a circular supply chain that helps both companies achieve their sustainability goals, Novelis says.