PE-dairy-bottle – Textile-Effects 12-08-2022 - Arhive
PE-dairy-bottle – Textile-Effects
Crude Oil Prices Trend
Indorama Ventures Limited (IVL)’s second-quarter sales and earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose sharply, year on year, on the back of strong sales volumes and improved profit margins, the Thai chemicals major said on Wednesday.
Net profit, which the company reports in its home currency, more than doubled during the quarter to baht (Bt) 20.3bn ($571m).
|IVL (in millions)||Q2 2022||Q2 2021||Change|
IVL said it had managed to offset high energy prices in Europe and the US thanks to the “combination of strong sales and improved margins”.
By division, the company said its largest unit producing polyethylene terephthalate (PET) and derivatives had posted 35% higher earnings during Q2, year on year, though they fell by 1% quarter on quarter.
“[The division, called Combined PET] delivered strong EBITDA … on high margins driven by seasonally strong demand, supply chain constraints and overall market tightness,” said IVL.
IVL’s Integrated Oxides and Derivatives (IOD) division also posted higher earnings, both year on year and quarter on quarter.
“[Within IOD] The Integrated Intermediates vertical was hindered by low ethylene crack margins, historically low integrated MEG [monoethylene glycol] margins, and the planned turnaround of two EO [ethylene oxide] units,” the company said.
However, sales and earnings fell year on year and quarter on quarter in the Fibers division as it took a hit from China’s lockdowns to contain the pandemic as well as disruption in Russia. PE-dairy-bottle – Textile-Effects
Acquisitions and high prices for polyethylene and PVC have helped Westlake (Houston, Texas, USA; www.westlake.com) to record results across the board: turnover, operating profit, and net profit were higher in the second quarter of 2022 than in any other three-month period.
On the one hand, the plastics producer reaped the fruits of its purchases, in particular the acquisition of Hexion’s epoxy resins business (see Plasteurope.com of 07.12.2021), as well as the takeover of the North America PVC activities of Australian building materials group Boral (see Plasteurope.com of 23.06.2021). On the other hand, the US group benefited from an economic environment where prices for PE and PVC climbed to new highs in April. Westlake described this understatedly as “solid market conditions due to strong demand and pricing dynamics”. As a result, revenues soared 57% year-on-year to USD 4.48 bn (EUR 4.4 bn) in the three months through June 2022, with EBITDA up 56% to USD 1.46 bn and net income surging 64% to USD 858 mn.
The increases are even more striking when looking at the half-year figures, as Q1 2021 had still been heavily battered by the pandemic. Turnover climbed 64% to USD 8.54 bn, and EBITDA surged 86% to USD 2.76 bn. At USD 2.21 bn, net profit was over twice as high as a year earlier. PE-dairy-bottle – Textile-Effects
The same is also reflected in the group’s segments: the raw materials division, Performance & Essential Materials, with its PE and PVC production units, increased half-year sales by 53% to USD 5.94 bn and EBITDA by 71% to USD 2.23 bn. The processing segment, Housing and Infrastructure Products, with its home construction products such as pipes and compounds, almost doubled sales to USD 2.6 bn, while EBITDA reached USD 568 mn, almost two-and-a-half times the previous year’s value.
The Textile Effects division of Huntsman Corporation, which was formally placed up for sale at the end of 2021, will be acquired by global specialty chemicals firm, Archroma. The transaction’s estimated $718 million total enterprise value includes the assumption of $125 million in net unfunded pension obligations as of December 31, 2021. Huntsman will contribute up to $80 million in preferred equity toward the purchase, which SK Capital Partners will work to syndicate before the deal closes.
The Textile Effects segment reported revenues of $772 million and adjusted EBITDA of $94 million for the twelve months that ended on June 30, 2022. Huntsman estimates that the sale will generate about $50 million in cash taxes. Beginning in the third quarter of 2022, Huntsman expects to list Textile Effects as discontinued operations. The deal is anticipated to conclude in the first half of 2023, subject to regulatory clearances and other usual closing conditions. PE-dairy-bottle – Textile-Effects
Peter Huntsman, Chairman, President, and CEO, said that over the last seven months, they have carried out a thorough strategic evaluation of their Textile Effects division, which included in-depth conversations wide range of relevant parties. Their Board of Directors determined that SK Capital would be a better long-term owner of the firm than Huntsman and that the value they gave was in the best interests of their shareholders after carefully examining all available choices and potential proposals for the company. After the deal is completed, Textile Effects and SK Capital’s Archroma company will merge to form a global leader in textile chemicals and dyes, as well as a pioneer in sustainability and innovation.
Slovnaft to invest EUR 63 million in modernisation and expansion of polypropylene production
comprehensive reconstruction will be carried out by the renowned German company Linde Engineering
polypropylene production capacity will be increased to 300 KTPY in favour of the most demanded products PE-dairy-bottle – Textile-Effects
modernisation of the existing production unit Polypropylene 3 (PP3) will reduce the volume of emissions
“One of the goals of our updated 2030+ strategy is to reduce the production of fossil fuels and strengthen the production of basic plastics. This investment confirms the path we have set out, increasing polypropylene production at the Bratislava refinery to 300 kilotons per year. Linde Engineering is our reliable partner. Less than 20 years ago the company built the PP3 polypropylene production unit in Slovnaft and now it will renovate and modernise it,” said Gabriel Szabó, Executive Vice President of Downstream at MOL Group.Bratislava, June 1, 2022 – Slovnaft invests EUR 63 million in the expansion and modernisation of polypropylene production. The investment, which is the third largest in the last 15 years, will increase production capacity, reduce emissions, improve safety and bring greater attractiveness to customers. Linde Engineering, a renowned German company, is the contractor for the comprehensive reconstruction of the existing PP3 production unit. The contract for the modernisation and expansion of the PP3 unit was signed today in Bratislava by representatives of both companies.
“The revamp will enable Slovnaft to meet rising demands from the polyolefin processing industry. The project is challenging given its complexity: Interdependency with other process facilities allows only a narrow time frame for a shutdown. With our proven expertise and best-in-class services, we will be able to complete all installation works, including construction, commissioning and testing,” said Juergen Nowicki, CEO Linde Engineering. PE-dairy-bottle – Textile-Effects
The annual production capacity of polypropylene, sold on the market under the brand names of Tipplen and Tatren, will increase by 33 kilotons (kt) to 300 kt. The capacity increase will focus on strengthening the share of the most in-demand grades of polypropylene, which Slovnaft now produces in around 20 specifications. Storage and logistics infrastructure will also be increased. A further 16 storage silos will be added to the current 45. The adaptation of the technology will reduce emissions and the modern logistics infrastructure will improve safety at work.
Abstract: Since millions of tons of packaging material cannot be recycled in conventional ways, most of it ends up in landfills or even dumped into the natural environment.
The researched methods of chemical depolymerization therefore open a new perspective for the recycling of various PET materials, which are especially important for packaging. Food preservative packaging materials made from PET plastics are complex, and their wastes are often contaminated, so there are no sophisti‐cated solutions for them in the recycling industry. PE-dairy-bottle – Textile-Effects
After integrating the biopolymer chitosan, which is derived from natural chitin, as an active surface additive in PET materials, we discovered that it not only enriches the packaging material as a microbial inhibitor to reduce the bacteria Staphylococcus aureus and Escherichia coli, thus extending the shelf life of the contained food, but also enables economical chemical recycling by alkaline or neutral hydrolysis, which is an environmentally friendly process.
Alkaline hydrolysis at a high temperature and pressure completely depolymerizes chitosan‐coated PET packaging materials into pure terephthalic acid and charcoal.
The products were characterized by Fourier‐transform infrared spectroscopy, proton nuclear magnetic resonance spectroscopy, and elemental analysis. The resulting reusable material represents raw materials in chemical, plastic, textile, and other industries, in addition to the antimicrobial function and recyclability itself.
In Europe, about 40% of plastic is used for packaging, which, in turn, becomes immediate waste . The production and consumption of plastic materials in the food pack‐
aging industry increases from day to day , with polyethylene terephthalate (PET) being the most widely used due to its mechanical, chemical, and biochemical properties; transparency; flexibility; technical use; recyclability; and economical significance. It occurs in the form of sheets, films, fibers, composites, etc. .
It is estimated that more than 359 million tons of plastic is produced annually.
More than a third of the total plastics produced are intended for the packaging sector. Most of the food packaging material is still landfilled, and a lot of it is even dumped in the environment [4,5]. Furthermore, food packaging is one of the most widespread applications, and its benefits have led to significant development and innovations in this area in recent years [6,7]. PE-dairy-bottle – Textile-Effects
For example, in order to introduce the preservation from the PET food packaging, different additives, mostly synthetic ones, are used to prolong the shelf life of the products packaged.
The integration (as fillers or coatings) of additives lead to the PET materials’ heterogeneity, resulting in more complex and contaminated waste . With mechanical recycling being the most used, such mentioned waste is thus inappropriate and therefore subjected to the problematic landfilling.
Accordingly, there are two problems in the whole end‐of‐life analytical aspect of the PET food packaging: environmentally unfriendly preservation additives, used in PET coating, and the recyclability of complex PET packaging materials.
Keeping that in mind, a complete solution with a natural additive to the PET material that would equivalently enhance the preservation of food, possibly with an environmen‐ tally friendly recycling process that would fully degrade the complex material to its basic compounds, was the perfect milestone for our research. This growing demand for natural substances to be applied as activators in the development of active packaging is also strongly in accordance with an increased health and environmental awareness, as well as legislation requirements. PE-dairy-bottle – Textile-Effects
Lactalis Nestlé has incorporated up to 30% recycled plastic in its chilled dairy product bottles through a new partnership with Repsol. The Repsol Reciclex range uses cutting-edge technologies to recycle plastic waste that cannot be mechanically recycled for use in food containers.
The Nestlé Kefir range’s bottles for Spain and Portugal and the Yoggi brand’s drinking yogurt bottles – marketed in Portugal and produced in Guadalajara, Spain – contain 30% and 10% recycled material, respectively.
Since June, Lactalis Nestlé, the yogurt and dairy dessert division of the Lactalis Group, has been using recycled plastic in these PE bottles. Repsol’s circular materials have the ISCC PLUS certification that ensures their traceability. The contents are certified according to the ISCC Plus mass balance approach. PE-dairy-bottle – Textile-Effects
The EU Plastics Strategy requires all packaging to be recyclable or reusable in an economically viable way by 2030.
Repsol uses advanced recycling technologies to manufacture these circular materials for food contact use with the same quality as virgin plastic.
“Being able to use recycled plastic to manufacture our bottles represents an important step in the way to circularity,” says Lluis Farré, general manager for southern Europe at Lactalis Nestlé. Advanced recycling technologies continue to proliferate worldwide.
“However, everyone’s commitment is the key to this initiative’s success, starting with the consumer, by separating the label from the bottle and disposing of both elements in the yellow container, to the agents such as Repsol, Logoplaste, and Lactalis Nestlé, who jointly promote the circularity of packaging in direct contact with food.”
“We thank Lactalis Nestlé, a benchmark in its sector, for its trust in Repsol to turn this important alliance into a reality and thus enable us to achieve our shared goals in Food Safety and Sustainability and boost our commitment to support our customers in their transition to circularity,” adds Pablo Giner, PE business director at Repsol.
ISCC Plus certification
The entire value chain, from Repsol as the supplier of the material, through to Logoplaste, the manufacturer of the bottles, and Lactalis Nestlé, responsible for the product and the filling of the containers, has the ISCC Plus certification, which ensures the traceability of the recycled materials used throughout the process. PE-dairy-bottle – Textile-Effects
Germany’s chemicals industry has hit a multiyear low in business expectations due to the steep increase in gas prices, according to the Ifo Institute on Tuesday.
Gas prices have soared since the Russian invasion of Ukraine in the first quarter of 2022, as the war has jeopardised security of supply in Europe and gas flows from pipelines in Russia have come under pressure.
Business expectations for the chemicals industry fell to -44.4 points in July, compared with 11.8 points a year prior. PE-dairy-bottle – Textile-Effects
“Natural gas accounts for 44 percent of energy consumption in the chemical industry. It also plays an important role in product manufacturing: around 30 percent of all chemical products require the use of natural gas,” said Ifo industry expert Anna Wolf.
As around half of Germany’s gas imports come from Russia, producers operating in the country may be more at risk than at other European locations.
Sentiment is exacerbated by disruptions in the supply chain, with more than half of German chemicals producers experiencing material shortages, according to the Ifo, which they expect to carry over into the first half of 2023 at least.
Wolf added that import prices for other inorganic basic chemicals rose more than 65% in May compared to the previous year, with fertilizers and nitrogen compounds recording 170% increases.
In the same period, exports of chemicals products from Germany to Russia dropped 49%, and to Ukraine fell 40% in May 2022 compared with May 2021, and the impact of this is set to persist.
-PIE Readers’ Survey: Pessimism at the forefront in Europe / Half of respondents predict worse business for rest of 2022 / Staffing a non-issue / German-speaking Europe not threatened by global disruptions
To gauge how business is developing in the European plastics industry, Plasteurope.com conducted its 8th Readers’ Survey in July. The questionnaire was available to Plasteurope.com subscribers and other industry players, with more than 220 participants from across Europe taking part in the poll. PE-dairy-bottle – Textile-Effects
Once again, we present the results of the survey, an exclusive executive summary with key statements from Europe’s plastics industry on the latest business performances, trends, and challenges in turbulent times. The details of the results are part of our online evaluation, where answers can be assessed individually according to individual requirements.
European companies more pessimistic than ever
What was the situation in Europe in the first half of 2022, and how is the rest of the year looking? Just under half of all companies surveyed in Europe reported improved business in the first half versus the last half of 2021. Just under a quarter reported a worse outcome.
The continuing consequences of the pandemic, with huge bottlenecks in supply chains, and then the war in Ukraine have impacted both the people and the economy. Energy prices are skyrocketing, and planning security is low. Since the first Plasteurope.com business survey in 2019, there has never been such a negative assessment of business activities across Europe, and the outlook has never been so pessimistic.
This is particularly noticeable among French managers: 40% reported a downturn compared to H2 2021, although 47% also reported improvement at their companies. In the Nordic region and in Spain & Portugal, assessments were more positive: in each case, 57% reported better business in H1 2022. But in Central & Eastern Europe, only one-third said business was better. PE-dairy-bottle – Textile-Effects
No light at the end of the tunnel?
Almost half of all survey participants said they expect business to worsen in H2 2022. Just under a quarter expressed hopes doing better despite the high energy costs and the uncertainty surrounding oil and gas supplies.
PE-dairy-bottle – Textile-Effects