Russian-oil – PET -Ny-Tyre-Cord 06-09-2022
Russian-oil – PET -Ny-Tyre-Cord
Crude Oil Prices Trend
Adler Industrial Solutions, Inc. announced it has acquired R&D/Leverage, Co. This transaction marks the third acquisition by Adler in the past year and gives the company expanded scale, a broader capability set, and European manufacturing facilities that serve a global customer base.
Headquartered in Lee’s Summit, Missouri, R&D is a leading manufacturer and supplier of mould types for the food and beverage, personal care, and healthcare markets. Founded in 1975 by Ivan and Ardith Drienik, the company was a pioneer in developing complex tooling solutions for the injection moulding and blow moulding industries. Today, R&D has over 250 employees split between its 180,000-square-foot and 60,000-square-foot manufacturing facilities in Lee’s Summit, Missouri, and Nottinghamshire, England, respectively.
“The acquisition of R&D is a milestone addition for Adler. The capabilities and skillsets of the R&D team are second to none and will only further raise the core competencies of the Adler group,” said Philipp Gruner, CEO of Adler. “Adding adjacent markets such as blow moulds, injection stretch blow moulds, preform moulds and higher complexity injection system moulds to our capabilities allows Adler to offer more services to our existing and future customers while expanding our geographic reach within the United States and internationally.” Russian-oil – PET -Ny-Tyre-Cord
As a part of Adler, R&D will benefit from additional resources and investment.
Ardith Drienik said the acquisition is the ideal pathway forward for the company that she and her husband, Ivan, founded and dedicated their lives to building.
- G7 countries agree to finalize deal on price cap
- OPEC+ needs to take heed of Iran nuclear talks
- Lack of spare capacity creates `risk premium’
The G7 countries’ agreement to finalize and impose a price cap on Russia’s crude exports may diminish its current discounts against global benchmarks and widen the pool of buyers of its oil, the head of Vitol Asia said on Sept. 4
Register Now G7 countries agreed Sept. 2 to “urgently” finalize and implement a price cap on imports of Russian oil as part of efforts to hit Moscow’s vital oil revenue and ability to fund the war against Ukraine. Russian-oil – PET -Ny-Tyre-Cord
“The markets where most Russian crude oil is flowing and will now flow once the sanctions take further effect later this year will be spread out more widely,” Mike Muller told the Gulf Intelligence daily energy webcast.
“So, the discounts we are currently seeing in place for Russian crude oil and product exports will possibly diminish at the same time that more participants are brought into the fold.” Russian-oil – PET -Ny-Tyre-Cord
Finance ministers from Canada, France, Germany, Italy, Japan, the UK and US said Sept. 2 they “commit to urgently work on the finalization and implementation” of the prohibition of maritime transportation of Russian-origin crude oil and petroleum products globally unless the oil is purchased at or below a price cap. The G7 announcement came a day after Russia’s top OPEC+ negotiator, Alexander Novak, said the country will refuse to supply oil to countries or companies imposing proposed price caps, adding that none of its partners in the oil exporters group supported price restrictions on Russian crude.
World needs Russian oil
No detail of the price cap level or timing was given by the G7 ministers, who said they aimed to align the implementation of the cap with the timeline of measures in the EU’s sixth sanctions package which bans most Russian oil imports by early 2023.
EU sanctions on Russian-related services such as the financing and tanker insurance also go into effect Dec. 5.
Currently Russian crude trades at a discount to global benchmarks, which has helped Moscow attract buyers in Asian countries including India and China.
The world cannot live without Russian oil and parallels between sanctions on Russia and Iran cannot be drawn due to Russia’s ability to produce around 11% of the global oil supply. Russian-oil – PET -Ny-Tyre-Cord
“A way must be found to allow Russian oil to continue to flow into markets because unlike the inventory build of gas in Europe…that does not apply for oil,” said Muller.
“We have to bear in mind that Russia’s production is a much larger number than Iran’s production, so we can’t draw parallels about sanctions taking effect in Russia in the same way as Iran because Russia has capacity to produce 11 million b/d of oil.”
Iran deal odds
However, oil markets and OPEC+ need to take heed of the potential lifting of US sanctions on Iran and the return of more barrels from Tehran amid the resurgence of talks since mid-August about a nuclear deal. The US administration of Donald Trump withdrew from the 2015 Joint Comprehensive Plan of Action, infuriating Iran and complicating efforts to export its crude without the threat of sanctions.
“The whole of the mindset around will there or will there not be Iranian oil in the market is extremely important for OPEC+ to take into account,” said Muller.
“That absolutely matters as we come into the peak demand period for Asia in particular and in terms of the October period where in Asia large NOCs tend to sign up contracts for the next calendar year.”
Odds of a nuclear deal reached this year are “a toss-up,” according to Platts Analytics. Platts is part of S&P Global Commodity Insights.
“Our reference case still assumes an agreement remains out of reach through 2023, but a near-term deal to resuscitate the 2015 JCPOA could lift crude and condensate exports by 1.0 million b/d by March 2023,” Platts Analytics said in a recent note.
Besides Iran, markets are watching for a potential oil output cut by OPEC+ after Saudi energy minister Abdulaziz bin Salman broached the topic in August, citing a disconnect between physical and futures markets.
Potential OPEC+ oil cut
OPEC+ ministers are due to meet Sept. 5 to decide on October production targets.
“The period of price stabilizations after COVID and OPEC+ is also over and there is a big question over the what next,” said Muller.
“By expressing the willingness to take oil off the market in response to either oil coming into the market from Iran sanctions being dropped or from the lack of demand in China due to COVID repression measures serves as a reminder that we are not going to see everybody producing flat out.” Russian-oil – PET -Ny-Tyre-Cord
The market also is dealing with a risk premium due to the lack of spare oil capacity in the market particularly since Saudi Arabia, UAE and Kuwait are likely the only OPEC countries capable of supplying the market with more crude.
PET Baltija, one of the largest PolyEthylene Terephthalate (PET) recyclers in Northern Europe, announced an agreement to acquire a leading Czech fibre producer Tesil Fibres s.r.o, a spin-off of Silon s.r.o. Once closed, this transaction will become one of the largest investments by a Latvian company in the Czech Republic to date.
This vertical integration transaction will subsequently increase PET Baltija’s current revenues by more than 50% while also making it an international company. For Silon, the transaction will enable it to fully focus on both the production and development of the highest quality polyolefin-based performance compounds.
Fibre production has been part of the traditional operations in Planá, Czech Republic dating back to 1966, and being integral part of Silon s.r.o. The operations spun-off to Tesil Fibres encompass country-leading annual staple fibre production capacities of 33 000 tonnes and c. 150 employees. Russian-oil – PET -Ny-Tyre-Cord
Tesil Fibres is a primary supplier to th e European market, covering industries and sectors that include automotive, hygienic, textile and furniture. It is also well known for its high quality standards and last year its fibre division recorded sales of €27million. Salvis Lapiņš, Chairman of the Board at PET Baltija, commented: “This deal will really put PET Baltija on a map as a key international player for the sector. We recognise and are excited by Tesil Fibres’ impressive high growth potential and its dedicated team of professionals. Working closely with the team and other key stakeholders, we plan to develop the company further, accelerating its growth and creating real value for all those involved. By ensuring the supply of best-in- class recycled PET materials, we will look to significantly contribute to the growth of the Tesil Fibres business and add greater product differentiation to it. It is also important to mention that through these developments, the overall volume of recycled PET will also increase.”
Deimantė Korsakaitė, Executive Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory Board at PET Baltija, added: “This agreement to acquire reinforces INVL Baltic Sea Growth Fund’s goal to significantly expand PET Baltija through both organic growth and bolt-on acquisition strategies. Since our initial investment, PET Baltija alone has more than doubled its revenue and is on track to finalise an organic growth expansion project that will more than triple its food-grade PET production capabilities. This deal will cement the company as a truly international vertically integrated market player that is committed to sustainability and tackling environmental issues.
This represents a significant development and leads to become a €100million+ revenue company.” Russian-oil – PET -Ny-Tyre-Cord
Century Enka Limited (CEL), is primarily involved in the business of producing Nylon Tyre Cord Fabric (NTCF) for the Tyre industry, High Tenacity Yarn (HTY) for technical textiles and Nylon Filament Yarn (NFY) for the Apparel industry. The company offers a diverse product range of NFY comprising of mono filaments, mother yarn, Fully Drawn Yarn (FDY), Partially Oriented Yarn (POY), drawn textured yarns, dope dyed yarns, TOW, and draw wound yarns. CEL also makes customised tyre cord fabric for reinforcement of tyres, which are used in motorcycles, scooters, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs) and Off The Road (OTR). Russian-oil – PET -Ny-Tyre-Cord
The demand for NFY is on the rise, given their wide ranging applications. Its properties compared to other textile yarns render this material more popular among customers. To strengthen its competitive position in the Tyre Reinforcement market, Century Enka is diversifying into Polyester Tyre Cord Fabric (PTCF) used in Passenger Radial Tyres. Alongside modernising its plant and augmenting capacities is under way.
CEL recently invested Rs. 86 crores, out of which the major portion was spent towards dipping capacity installation and expansion of Nylon Tyre Cord Fabric (NTCF) plant. This capex will significantly increase the capacity at both the plants resulting into increased scale of operations. To achieve the vision of becoming a leading and dependable company in the tyre reinforcement and man-made textile yarn industries, CEL plans to allocate large portion of the capex towards capacity expansion of value-added products such as Nylon Tyre Cord Fabric (NTCF) and Polyester Tyre Cord Fabric (PTCF) in the future. The company’s synthetic yarn capacity is 78,000 tonnes/annum.
CEL produces a broad range of High-Quality Nylon Processed Yarns for diverse application including fish-twines, conveyor belts, etc. The brand name ‘Enkalon’ is a testament to its high quality material, which gives a soft, lustrous and elegant feel to the finished fabric. The nylon processed yarn can be used for various weaving applications on high-speed latest generation machines. CEL spearheaded the introduction of jumbo beams for nylon yarn in India.
The company’s domestic market share for NFY was around 25% while that of NTCF was 23%. Revenue for the financial year increased by 72% year-on-year at ₹2,098 crores.
Ecore International plans to invest $25.5 million to open a regional manufacturing and tire recycling facility in Ozark, Alabama. Ecore transforms reclaimed materials into flooring and surface products.
“Ecore is a great addition for Alabama’s business community, and its decision to locate an advanced manufacturing and recycling facility in Dale County will have a major economic impact on the rural area,” says Alabama Governor Kay Ivey. “This project in Ozark will bring good manufacturing jobs to the citizens there and spark new opportunities throughout the region.” Russian-oil – PET -Ny-Tyre-Cord
As part of the project, Ecore is purchasing an existing building in Ozark, which the company will equip to reclaim the rubber from used truck tires and use the rubber to manufacture flooring and surfacing products.
Ecore CEO Art Dodge says that the company is pleased to be partnering with the city of Ozark, Dale County, and the State of Alabama to establish the manufacturing and recycling facility.
“Since its inception, Ecore has transformed over 2 billion pounds of rubber waste into surfaces that make people’s lives better. All Ecore manufacturing facilities are certified ‘Zero Waste,’ amplifying the company’s commitment to environmental stewardship,” says Dodge.
HeiQ has, since its inception, strictly adhered to its guiding principle of enhancing the lives of billions through innovating sustainable technologies that serve both the planet and its population. The flourishing Indian market with its billion+ people is, by the very nature of these attributes, a country that enjoys a strong focus of the company’s efforts.
HeiQ (LSE: HEIQ) is a leader in textile innovation, having created some of the most effective, durable and high-performance textile technologies in the world. Through improving textiles, HeiQ aims to enhance lives by adding hygiene, comfort, protection and sustainability to the products we use every day. Russian-oil – PET -Ny-Tyre-Cord
A trusted innovation partner for over 300 global brands including Speedo, Patagonia, Coats and Cornelia James, HeiQ has won multiple awards and is renowned for the sustainable downstream effect of its innovations. HeiQ has 14 offices, eight R&D hubs and a network that spans five continents that can cover everything from scientific research to materials manufacturing and consumer branding. For the past decade, HeiQ has collaborated with Intexso Biochem to bring its innovations to the Indian market and is a long-term innovation partner for Arvind Mills, Birla Century, Nahar, Trident, Vardhman and Welspun, to name a few.
Staying one step ahead of the times is where HeiQ excels. Currently much of the world is facing the hottest summer in history, and regardless of global warming, Indians are certain to embrace cooling fabrics. Fabrics powered by HeiQ Cool, the world’s first dual action textile cooling technology, continuously regulate the skin temperature, cooling before the first sign of sweat and delaying the build-up of heat. Instantly cool to the touch, the components synergistically recharge ensuring a consistently cool, dry and comfortable body climate. HeiQ Smart Temp is more widely used on apparels and performance sportswear as it performs excellently with moisture, helping to lower the wearer’s temperature by pushing moisture away. Having been around for a decade and repeatedly approved by 50+ global brands, this technology is applied on hundreds of millions of garments.
Hot conditions also mean challenges to staying fresh and odour free for long durations. HeiQ’s odour control textile technologies include HeiQ Fresh which is a family of highly effective sustainable silver-free technologies with ingredients that are either bio-based or mineral-based. The latest addition to this range is the mint-based solution HeiQ Fresh MNT-01. HeiQ Pure provides antimicrobial odour control for improved comfort, hygiene and freshness. Russian-oil – PET -Ny-Tyre-Cord
Announced end of last year, HeiQ created HeiQ AeoniQ, the world’s first climate positive continuous cellulosic filament yarn. The mission to drastically reduce the carbon footprint of textile manufacturing is now being backed by global brands HUGO BOSS and The LYCRA Company. HeiQ AeoniQ yarn is designed for circularity and will reduce our dependence on oil-based fibres, help decarbonize our planet and reduce the impact of the industry on climate change.
Chase Plastics has announced its participation at K 2022 where it will showcase the Recothene rPE range of recycled content solutions for polythene film manufacturers.
Exhibiting at K 2022 is the culmination of a three-year programme of investment that has enabled the development of the Recothene rPE range to meet the demand being generated across Europe by the move towards a circular economy.
Managing Director Johnstone Smith said: “With the transition to a circular economy now underway, we see K 2022 as the ideal platform to demonstrate how Recothene rPE can help polythene film manufacturers contribute to the circular economy and reduce the carbon footprint of their products. Russian-oil – PET -Ny-Tyre-Cord
“The world has woken up to the urgent need to rethink how transit packaging is handled at the end of its life. The need to break the cycle of disposal via landfill or export is clear. Whether we use or manufacture transit packaging, we all have a part to play. Many businesses can support the transition to a circular economy through ensuring their used polythene is sent for recycling post-use whilst polythene film manufacturers can move from a linear model towards a circular model by reformulating their products to incorporate Recothene.”
Chase Plastics saw demand for Recothene rPE surge in the run up to the introduction of the UK Plastics Packaging Tax in April this year. Customers introduced Recothene rPE into transit packaging applications at addition rates in excess of 30 per cent, according to Smith, who attributed this success to Recothene’s consistently high quality. Manufactured in an EUCertPlast accredited facility, Recothene is engineered to ensure high levels of processability and compatibility with all extrusion machinery.
SHIELDLER introduces its Supplement pill bottles and caps made from 100% post-consumer recycled PET, in the latest edition of The Spotlight.
According to the report, humanity now produces more than 200 million tonnes of municipal solid plastic waste annually. This is equal to around 523 trillion plastic straws which if laid lengthwise could wrap around the world approximately 2.8 million times. Unfortunately, the lifecycle of virgin plastic does not end when one conveniently throws it away in the garbage container, but the lifecycle extends far beyond this point, potentially for thousands of years. Russian-oil – PET -Ny-Tyre-Cord
One of the biggest contributors to the staggering levels of plastic pollution is the healthcare and supplement industries especially the supplement packaging industry is under constant scrutiny. Michor Pleijzier, President at SHIELDLER says “Be aware of the hidden costs of virgin plastics and take responsibility. Supplement packaging should focus on recycled & recyclable materials for high-quality products. Do the right thing, planet earth’s price tag is simply invaluable.”
The European Union is trailblazing the sustainable packaging transformation, according to the Eurostat report in 2021, the EU uses recycled plastic at an all-time high at 41.5% which is three times that of the US. In fact, as per the Accenture report in 2020, half of the inquired consumers are ready to pay a premium for environmental-friendly packaging.
Russian-oil – PET -Ny-Tyre-Cord