Chemetall to acquire Polymer Ventures’s automotive paint business

BASF’s Surface Treatment business unit of the Coatings Division, operating under the brand name Chemetall, has reportedly entered into a conclusive agreement with Polymer Ventures Inc., for the acquisition of its automotive paint detackification business.

According to sources with the knowledge of the matter, the latest acquisition will help Chemetall to provide customers with the best-in-industry value. The firm is expected to streamline the combined supply chain and offer new products through global R&D resources as well as stronger processing and manufacturing potential.

Chemetall to acquire Polymer Ventures’s automotive paint business

Sources further claim that it will augment services through the mutual commitment of organizations to meet technical requirements, with more industry professionals and magnified in-field representation.

If industry experts are to be believed, the paint detackification technology, which is a process used in capturing and neutralizing paint overspray, complements the surface treatment products of Chemetall. The products are specially designed to prepare metal surfaces in the best possible way for the painting process and further ensures proper coating adhesion.

The latest transaction apparently concludes a long-term partnership between the two organizations which have their customer portfolios totally aligned. Reports also revealed that the combined business represents an enormous growth prospect for customers, employees and suppliers.

With this acquisition, Chemetall is now more efficient to provide technically advanced and developed product portfolio to the industries it serves. The acquisition also lets the company successfully keep the company with its market style of Cut It. Clean It. Coat It. Control It. Conserve It.®

The Coatings Division of BASF, for the record, specializes in the production, development, and marketing of sustainable and innovative automotive OEM, decorative paints, applied surface treatments for glass, plastic & metal substrates, as well as refinish coatings for a range of industries.

BASF’s expertise and resources of interdisciplinary and global teams benefit customers with the operation of a collaborative network of sites in North America, South America, Europe, and Asia Pacific. The Coatings Division had achieved approximately €3.97 billion through global sales in 2017.

Read more @ http://allchemresearch.com/chemetall-acquire-polymer-venturess-automotive-paint-business/

Prinzhorn to invest €15 million in Romania based packaging facility

Prinzhorn, a European market leader in paper, packing and recycling has recently been reported to invest €15 million in developing a new cardboard packaging production facility in Romania. The investment will be made through Dunapack Packaging, the Hungarian subsidiary of Prinzhorn which is based in Austria.

The new production facility is reported to be spreading over a vast 22,000 square meter area with the premises including high-speed cardboard production equipment designed to deliver a wide variety of packaging solutions. According to reports from local news sources, the facility is estimated to have 180,000 square meters an annual cardboard production capacity.

The new production facility is located in Bolintin near Bucharest. With this new facility, the total number of plants for Dunapack reaches 19 that are located across 10 countries. For the record, Dunapack is a division of Prinzhorn Austrian group which has 20 plant in 10 countries and is known for being one of the largest players in the European paper and packaging industry. The group has a total of 6,600 employees across its various plants and has an annual turnover of approximately €1.4 billion.

Dunapack Rambox already has production facility in Sfantu Gheorghe in Romania. The region is known for having significant a Hungarian population.

The Sfantu Gheorghe production unit is also planned to receive a significant technical overhaul that will help to increase its production. Together the two production units are anticipated to have an annual turnover of nearly 300 million square meters of cardboard packaging.

The new unit is expected to create nearly 150 new jobs and is scheduled to start operating from June 2019.

Cord Prinzhorn, CEO, Prinzhorn group, has been quoted to say that Romania has always been and will continue to be one of the key paper and packaging markets for the development of the Prinzhorn group. He added that the company is thrilled to take this significant step in an industry that is apparently in full swing at present.

Sandfire approaches MOD Resources for a potential acquisition offer

Sandfire Resources, a top Australian copper producer, has made it to the headlines for approaching MOD Resources and making a potential takeover offer, in excess of its present valuation of $54.7 million.

As per authentic sources, the approach was preliminary in nature besides being non-binding and indicative. Sandfire did not provide any financial details regarding the acquisition offer in the beginning, but a follow-up announcement that the company made has showed a figure of 38 cents for each MOD share.

Sources familiar with the matter claimed that MOD Resources, which is a Perth-based company with projects of copper-silver exploration in South Africa’s Botswana, holds a $216.1 million T3 copper project at the Kalahari copper belt of Botswana.

Sources further added that the project includes indicated resources of 60 million tons of ore at 0.98% copper and 14 grams per ton of silver for 417,000 tons of copper & 18.6 million ounces of silver. MOD Resources is further projected to complete the feasibility study of T3 by the end of 2019’s March quarter, with an expansion prospect of mine life from 8.8 years to 11.7 years.

It has also been reported that the share price of MOD Resources currently stands at 22 cents per share, wherein this offer is expected to boost the company’s present valuation considerably.

The company holds around 248.57 million shares, implying that the the offer would equate roughly to $94.5 million if 100 per cent of MOD shares were to be purchase by Sandfire. Apparently, MOD has recently turned out to be a dual-listed company, given its successful entry into the LSE (London Stock Exchange).

Sandfire Resources, for the record, operates via two major segments, Exploration & Evaluation and DeGrussa copper-gold mine, its 100% owned flagship project. The company, based in West Perth, Australia, significantly explores for copper, silver, gold and sulphide deposits.

As reported by The West Australian, shares of Sandfire are currently lower by 1.3%, to $6.97 per share

Read more – http://packingmaterials.org/sandfire-approaches-mod-resources-potential-acquisition-offer/

TC Transcontinental Packaging launches 100% recyclable tea pouch

TC Transcontinental Packaging in partnership with an American tea company Harney & Sons has recently introduced a new 100 per cent recyclable and multilayer barrier stand-up pouch in North America. Reportedly, the completely recyclable tea pouch with a barrier is all likely to bring an innovative and sustainable product packaging to the industry.

According to sources familiar with the development, TC Transcontinental Packaging collaborated with Charter NEX Films and Dow to design one of the first commercialized package for food that hits almost all notes of packaging – seal strength, EVOH barrier for product preservation, durability, and 100% recycle ready for in-store drop off.

Todd Addison, VP, Business Development at TC Transcontinental Packaging, was quoted saying that the company supports and promotes innovation in flexible packaging and also encourage businesses to adopt better eco-friendly solutions. He further added that the company’s collaboration with Harney & Sons was a perfect match for this sustainable initiative and has thus reflected in its operations and partnerships.

Chris Gandy, North America Market Manager, Dow Packaging & Specialty Plastics Adhesives business, also reported that the company is pleased to collaborate with companies like Charter NEX Films and TC Transcontinental Packaging to develop one of the first-in-market and complete recyclable high barrier stand-up pouch for Harney & Sons. He further revealed that the company’s comprehensive portfolio of adhesives, specialty products, and resins combined with TC’s pouching expertise and sustainability mindset allowed Harney & Sons to provide its clients with a more sustainable product.

As reported by FoodinCanada, quality tea packaging requires a co-extruded and multilayer package that helps protect natural oils of the product, giving the tea leaves a smooth finish and flavor. The EVOH layer plays a crucial role in packaging as it serves as an excellent barrier to moisture, gases and organic vapors in turn helping in extending shelf life and preventing the product from deterioration.

It has been reported that the major challenge with the barrier films was retaining its recyclability as the bonds do not break down easily. Dow’s RETAIN™ resin technology in this regard, however, not only solved the concern of compatibilizing the multi-layer barrier, but also allowed the film to easily attain the sustainability goals.

Read More – http://packingmaterials.org/tc-transcontinental-packaging-launches-recyclable-tea-pouch/

Waitrose eliminates 1300 tons of black plastic from its stores in UK

Waitrose & Partners, a British supermarket chain, has made it to the headlines for eliminating as much as 1,300 tons of black plastic packaging in a growing effort to curb pollution and waste accumulation in the UK.

Reportedly, Waitrose is making an effort to remove black plastic from its own-brand products. The packaging, which is difficult to recycle because of the presence of black carbon pigments, has been removed from all fresh fruits and vegetables, fish, poultry and meat. Sources familiar with the development reveal that the supermarket giant will be working on the removal of the rest of the black plastic packaging by the end of 2019.

Tor Harris, a Waitrose spokesperson, was quoted saying that the elimination of black plastic is a key priority for the company. She further added that besides removing the black plastic packaging, the company is also making efforts to cut down on plastic usage of any color, by eliminating the plastic trays from fruits and vegetables like apples, pak choi, and broccoli.

It was further revealed by Harris that the supermarket chain, which has been making progress throughout and is quite determined to keep its momentum up, is currently aiming at ready meals and products for achieving its black plastic removal goals by this year end.

Authentic sources affirmed that Waitrose has cut down on plastic packaging by about 50 percent from 2009. They further claim that the chain has removed all disposable coffee and throwaway cups from its stores and is now replacing all loose fruit & veg carrier bags with home compostable alternatives and will also cut off the 5p single-use carrier bags.

For the record, the growing issues of black plastic packaging have also been addressed by retailers. The Daily Mail’s ‘Banish the Bags’ campaign started in February 2008, highlights the threats of plastic blight.

About Waitrose

Waitrose & Partners, is a top supermarket chain which forms the UK’s biggest employee-owned retailer – the John Lewis Partnership’s food retail division. It is headquartered in Berkshire, England, and has around 353 stores across the UK. Waitrose is the sixth-largest grocery retailer in Britain and exports products to over 52 countries worldwide.

Read More – http://packingmaterials.org/waitrose-eliminates-1300-tons-black-plastic-stores-uk/ 

Sustainable packaging leader TemperPack secures $22.5 million in funds

A leading thermal packaging company TemperPack recently raised $22.5M in Series B investment round headed by Revolution Growth.

In a growing effort to expand its business, TemperPack, a thermal packaging industry major based in Richmond, USA, has reportedly secured as much as USD 22.5 million in Series B funding round led by a private equity firm Revolution Growth. Reportedly, with the expansion in business, the Richmond-based company will engineer novel products in order to meet the increasing demand.

Sustainable packaging leader TemperPack

Other investors who participated in the financing round includes Arborview Capital, Tao Capital Partners, and Harbert Growth Partners. According to sources with the knowledge of the development, Revolution Growth’s Partner – Todd Klein and Brian Carney, the General Partner at Harbert Growth Partners, are expected to join the board after the completion of the financing session.

According to Brian Powers, the co-CEO & co-Founder at TemperPack, plastic foam is an antiquated technology and is causing a lot of environmental damage as it can take over 500 years to degrade. He further commented that ClimaCell™ technology is a perfect fit for the governments, logistics companies and consumers that are looking for functional as well as sustainable alternatives.

As reported by Richmond Times-Dispatch TemperPack was founded as a garage business in Maryland by three friends, who developed a eco-friendly insulation product using jute fiber. The company later shifted its business in 2015 to Richmond area and in April 2018, it further moved its production to a 13,000 sq. feet facility in Henrico County, where the company currently has over 250 employees. TemperPack also has a manufacturing unit in Nevada.

For the record, TemperPack, manufactures sustainable packaging products like Styrofoam® with patented bio-based materials, that are potential enough to replace single-use plastics. The company was founded in 2015 by Brian Powers, James McGoff, and Charles Vincent and has been witnessing rapid growth, given its mission-critical to reduce the amount of unsustainable packaging. The company’s latest ClimaCell™ recyclable technology, certified by How2Recycle®, is the first sustainable substitute to plastic foams.

It has been reported that TemperPack’s ClimaCell™ technology has helped slash 15 million pounds of carbon emissions and also removed plastic foam of about 10 million pounds from landfills.

Read More @ http://allchemresearch.com/sustainable-packaging-leader-temperpack/

BASF picks southern Chinese port to set up $10B petrochemicals complex

BASF stated that the $10 billion would be invested in phases, which includes several plants for consumer-oriented products as well as a steam cracker with a yield of 1 million tons every year.

BASF, the German chemicals giant, has recently announced that the company has selected the port city of Zhanjiang in Guangdong, the southern Chinese province, as a site for its new $10 billion petrochemicals complex.

BASF picks southern Chinese port to set up $10B petrochemicals complex

Apparently, this move comes along the heels of BASF signing a memorandum of understanding (MoU), in October, with Sinopec Corp. of China. The MoU was allegedly signed for building a steam cracker in the eastern city of Nanjing, wherein the company had marked its first huge investment in China in an alliance with the Chinese state energy corporation around two decades ago.

The company inked a so-called ‘framework deal’, recently, in an attempt to take the project beyond the MoU which was previously agreed. A plot of land of 9 square-km would reportedly be allocated for the project.

The company had previously stated that this facility, the first chemicals complex wholly-owned by a foreign company in China, would be in this province but had not revealed the exact location.

Martin Brudermüller, Chairman of BASF, said in a statement that the global share of chemical production of China is anticipated to grow to around 50 percent by 2030. Brudermüller further mentioned that Guangdong is an expanding market for innovations from chemistry and the new site of BASF would help to support customers from a number of industries.

Sources familiar with the matter highlighted that People’s Republic of China is allowing larger access to the country’s massive chemicals markets for local independents and global majors as it seeks to feed fast-growing demand for adhesives, coatings and plastics from industries like consumer electronics.

Read More @ http://allchemresearch.com/basf-picks-southern-chinese-port-set-10b-petrochemicals-complex/

TricorBraun acquires Pacific Bag, forms new unit TricorBraun Flex

In a growing effort to set a firm foot in the global flexible packaging sector, TricorBraun, a U.S.-based rigid packaging industry giant, has recently announced that it is acquiring Pacific Bag, an American packaging manufacturer.

As per reliable sources, the transaction represents the sixth acquisition of the packaging giant in eighteen months. The company purchased Salbro Bottle in June 2017 and further acquired Taipak, Continental Packaging Associates, Package All, and its Mexican joint venture’s remaining shares.

Pacific Bag, which specializes in flexible packaging of coffee and specialty food, serves over 4,500 customers in around 50 countries. Reportedly, the company’s executive team including CEO Mark Howley, is likely to remain with TricorBraun.

Reportedly, TricorBraun will merge Pacific Bag, the largest independent flexible packaging distributor, with its existing flexibles business, Taipak, in a bid to create TricorBraun Flex. Sources familiar with the development cited that the new business unit will focus on efficient flexible packaging and will operate out of the existing facilities in Toronto, Seattle, Philadelphia, Vancouver, and Calgary.

Court Carruthers, the CEO and President, TricorBraun, was reportedly quoted saying that the acquisition of Pacific Bag is a natural step in TricorBraun’s evolution as the global packaging leader. He further added that the move reinforces the company’s existence in the flexibles sector and builds on its successful Taipak acquisition.

According to Court, Taipak’s and Pacific Bag’s combination of flexibles know-how, coupled with TricorBraun’s resources and potential, will offer exceptional services and products to customers with evolving packaging needs.

TricorBraun, for the record, had acquired Taipak in the year 2017, which implied the company’s first-ever move into flexible packaging industry in its history of 117 years.

Authentic sources revealed that Taipak experienced an exceptionally good year with TricorBraun which has helped it grow its business. Apparently, the Taipak team is excited to work with Pacific Bag in order to provide consumers with unparalleled flexible packaging services.

Read More  – http://packingmaterials.org/tricorbraun-acquires-pacific-bag-forms-new-unit-tricorbraun-flex/

Shell begins production at fourth alpha olefins unit in Geismar

In a recent turn of events, Shell has reportedly commenced production from its fourth alpha olefins unit at its chemical plant located in Geismar. The company stated that the expansion is a multi-billion dollars move that would augment the production capacity of the chemical manufacturing site by 425,000 metric tons per year.

This would increase the overall alpha olefin production at Geismar to reach over 1.3 million metric tons per year, thereby making the Gulf Coast the largest producer of alpha olefins in the world.

Shell begins production at fourth alpha olefins unit

For the uninitiated, alpha olefins are widely used as ingredients in consumer goods like laundry detergents, hand soaps, and motor oils. The project signifies a massive expansion of Shell’s petrochemical business in the region and will back the Deer Park facility located in the greater Houston area, cite credible sources.

As per Shell, the newly added manufacturing unit is a part of the company’s initiatives to integrate the downstream side of its business. Owing to Geismar site’s easy access to advantaged ethylene feedstock from Norco, La and Deer Park manufacturing sites, the site can effectively respond to market conditions, the company stated.

Steve Zinger, VP of Chemicals at Wood Mackenzie, said that Shell previously sold most of the U.S. ethylene it manufactured, but the addition of an alpha olefins unit means that the integrated downstream operations could be used for company’s benefit. However, in Shell’s case, the country is a bit long on ethylene, so this is one of the ways they could consume some of the ethylene and turn it to a usable product that could be traded in the polyethylene market or exported to global markets where demand growth is still rising, Zinger added.

Based on media reports, Shell’s chemical business is planning another expansion project for the Geismar plant. The company is in an early evaluation stage of an expansion project worth $1.2 billion that will introduce a world scale mono-ethylene glycol unit to Geismar, reported sources.

Read More @ http://allchemresearch.com/shell-begins-production-fourth-alpha-olefins-unit-geismar/

Shell begins productioShell begins production at fourth alpha olefins unit in Geismarn at fourth alpha olefins unit in Geismar

In a recent turn of events, Shell has reportedly commenced production from its fourth alpha olefins unit at its chemical plant located in Geismar. The company stated that the expansion is a multi-billion dollars move that would augment the production capacity of the chemical manufacturing site by 425,000 metric tons per year.

This would increase the overall alpha olefin production at Geismar to reach over 1.3 million metric tons per year, thereby making the Gulf Coast the largest producer of alpha olefins in the world.

Shell begins production at fourth alpha olefins unit

For the uninitiated, alpha olefins are widely used as ingredients in consumer goods like laundry detergents, hand soaps, and motor oils. The project signifies a massive expansion of Shell’s petrochemical business in the region and will back the Deer Park facility located in the greater Houston area, cite credible sources.

As per Shell, the newly added manufacturing unit is a part of the company’s initiatives to integrate the downstream side of its business. Owing to Geismar site’s easy access to advantaged ethylene feedstock from Norco, La and Deer Park manufacturing sites, the site can effectively respond to market conditions, the company stated.

Steve Zinger, VP of Chemicals at Wood Mackenzie, said that Shell previously sold most of the U.S. ethylene it manufactured, but the addition of an alpha olefins unit means that the integrated downstream operations could be used for company’s benefit. However, in Shell’s case, the country is a bit long on ethylene, so this is one of the ways they could consume some of the ethylene and turn it to a usable product that could be traded in the polyethylene market or exported to global markets where demand growth is still rising, Zinger added.

Based on media reports, Shell’s chemical business is planning another expansion project for the Geismar plant. The company is in an early evaluation stage of an expansion project worth $1.2 billion that will introduce a world scale mono-ethylene glycol unit to Geismar, reported sources.

Read More @ http://allchemresearch.com/shell-begins-production-fourth-alpha-olefins-unit-geismar/