Indorama Ventures Thermoplastic composites 12-01-2022

Indorama Ventures Thermoplastic composites

-Indorama Ventures to Acquire Vietnemese PET Converter

Purchase of Ngoc Nghia Industry will strength company’s packaging business in Asia-Pacific

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announces that it is in the process of acquiring shares in Ngoc Nghia Industry – Service – Trading Joint Stock Company (NN).

NN is a leading PET converter in Vietnam with long-standing relationships with major brands. It has four manufacturing sites in both the North and South of Vietnam. It has a total production capacity of approximately 5.5 billion units of PET preforms, bottles and closures, or equivalent to a PET conversion of 76,000 tons per annum.

Operating with high quality standards, NN is a trusted provider of PET packaging products to major multinational and Vietnamese brands in the beverage and non-beverage industries.Indorama Ventures Thermoplastic composites

Its business operations are run by an experienced management team with strong industry knowledge as well as local market exposure and understanding. These competitive advantages are strategic fits for IVL and would complement the company’s long-term growth after integration. This proposed acquisition will strengthen IVL’s market position in the packaging business in high growth markets of the Asia-Pacific region.

Mr. D K Agarwal, CEO of Combined PET, IOD and Fibers Business at Indorama Ventures, says, “This investment opportunity is in line with IVL’s business strategy of expanding our footprint in rising economies like Vietnam. The country is positioned to be the ASEAN production hub for the Asia-Pacific region. Moreover, Vietnam’s PET packaging market is expected to grow continuously due to strong growth in consumption and improving living standards.

The proposed acquisition would foster sustainable growth in our largest business segment, Combined PET, which has been growing constantly to serve increasing demands globally.”  Indorama Ventures Thermoplastic composites

Indorama Ventures to Acquire Vietnemese PET Converter

-Petrobas expects to sell 100% of its preferred stake in Braskem by February

Brazilian state-run oil company Petrobras said on Friday it expects to sell 100% of its preferred stake in petrochemical producer Braskem SA by February. The detailed timeframe came after Petrobras announced earlier in the day that the move was planned for the first quarter of 2022. Indorama Ventures Thermoplastic composites

Petroleo Brasileiro SA, as the company is formally known, also reiterated in a securities filing that the move will be conducted through a joint follow-on share offering with conglomerate Novonor.

The oil giant has hired JPMorgan to manage the offer. Petrobras had repeatedly expressed its intention to sell its 36.1% stake in the petrochemical company. Novonor, formerly known as Odebrecht, holds a 38.3% stake in Braskem.

Created in August 2002 by the merger of six companies from the Odebrecht Group and the Mariani Group, today Braskem is the largest petrochemical company in the Americas and the world’s leading biopolymer producer. Braskem produces polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC) resins, as well as basic petrochemicals such as ethylene, propylene, butadiene, chlorine, benzene, toluene, etc. Indorama Ventures Thermoplastic composites

Braskem operates in the chemical and petrochemical industry and plays a significant role in other production chains that are essential to economic development.

Indorama Ventures Thermoplastic composites

-Thermoplastic composites to replace metal components of batteries

The mobility and transport sector is currently responsible for a quarter of all greenhouse gas (GHG) emissions. Strongly encouraged by legislation and market demand, this industry has now started to make the shift towards vehicle electrification, which is expected to contribute significantly to reducing GHG emissions. But it also involves a number of challenges, including battery autonomy.

Thermoplastic composites to replace metal components of batteriesAIMPLAS

In this context, AIMPLAS is developing the VETERIA21 Project as part of a collaboration agreement between the Valencian Regional Government’s Ministry of Innovation, Universities, Science and Digital Society and AIMPLAS to provide funding through grants for technology centres to carry out innovation projects in 2021 in collaboration with companies within the framework of smart specialization.

The aim of the project is to optimise the transformation processes of thermoplastic composites in order to improve their properties so they can replace metals in electric vehicle battery casings. This will reduce battery weight and, therefore, battery consumption while providing a sustainable new solution based on circular economy criteria. Indorama Ventures Thermoplastic composites

Currently made of stainless steel and aluminium, li-ion battery modules account for from 20-30% of vehicle weight.

Indorama Ventures Thermoplastic composites

-Bioinnovation partnership: U of T Engineering and Ford Canada introduce new, sustainable automotive material

A collaboration between University of Toronto researchers and Ford Canada, led by the Faculty of Applied Science & Engineering’s Professor Mohini Sain, has produced a new, sustainably-sourced, production-ready engine component for high-performance vehicles. Indorama Ventures Thermoplastic composites

The Carbon Fibre-Composite 5.0L Engine Timing Cover reduces emissions by displacing fossil fuel-derived plastics with renewable alternatives that can be recycled and by decreasing vehicle weight, leading to improved fuel efficiency.

Five years in the making, the new part was developed through a partnership between Sain’s lab group and Ford Canada’s Powertrain Research and Development Centre (PERDC), led by Dr. Jimi Tjong, the technical lead at its Essex Engine Plant in Windsor, Ont., which is equipped with more than 20 design and process engineers.

The partnership was supported by the Natural Sciences and Engineering Research Council of Canada and the Ontario Research Fund – Research Excellence.

“My goal is to not only do research; I want to be involved in the process from research to commercialization,” says Sain, a professor of mechanical and industrial engineering. “Our research group starts with the fundamental research and then we translate it into practice, going from concept to production-ready products.

“We constantly consult with our industry experts to bring synergy in our design engineering to develop optimal cost/performance balance. Pricing is a key factor in driving our innovation.” Indorama Ventures Thermoplastic composites

The director of U of T Engineering’s Centre for Biocomposites and Biomaterials Processing, Sain is a leading researcher in advanced low-carbon materials and sustainable bio-manufacturing.

Indorama Ventures Thermoplastic composites

-Crude oil prices rise sharply on Kazakhstan unrest and Libyan outages

Oil prices rose sharply on Thursday, extending a rally from the previous session, on escalating unrest in OPEC+ oil producer Kazakhstan and supply outages in Libya, reported Reuters.

Global benchmark Brent crude futures rose USD1.78, or 2.2%, to USD82.58 a bbl by 1445 GMT, the highest since late November. US West Texas Intermediate (WTI) crude futures gained USD2.18, or 2.8%, to USD80.03, the highest since mid-November.

Brent’s six-month backwardation stood at about USD4 a bbl, its widest since late November. Backwardation is a market structure where current prices trade at a premium to future prices and is usually a sign of a bullish market.

Russia sent paratroopers into Kazakhstan on Thursday to help quell a countrywide uprising after deadly violence spread across the tightly controlled former Soviet state. Indorama Ventures Thermoplastic composites

“The political situation in Kazakhstan is becoming increasingly tense,” Commerzbank said. “And this is a country that is currently producing 1.6 MM bbl of oil per day.”

There were no indications that oil production has been affected so far.

Libyan oil output is at 729,000 bpd, the National Oil Corp said on Thursday, down from a high of more than 1.3 MMbpd last year, owing to maintenance and oilfield shutdowns.

Prices rallied despite a surge in US fuel stocks a week earlier. US crude oil stockpiles fell lin early January while gasoline inventories surged by more than 10 MM bbl, the biggest weekly build since April 2020, as supplies backed up at refineries because of reduced fuel demand. Indorama Ventures Thermoplastic composites

OPEC+, a group that includes members of the Organization of the Petroleum Exporting Countries, Russia and other producers, agreed on Tuesday to add another 400,000 bpd of supply in February, as it has done each month since August.

Crude oil prices rise sharply on Kazakhstan unrest and Libyan outages

Indorama Ventures Thermoplastic composites

PET resin Ethylene petrochemical 11-01-2022