Occidental & Chevron tie up to invest in CE’s CO2 reduction technology

Chevron Corp. and Occidental Petroleum Corp. have apparently joined forces in a bid to pour in capital in carbon dioxide elimination technology. As per credible reports, a subsidiary of the latter and Chevron’s venture capital arm have jointly invested in Carbon Engineering for its technology designed to remove carbon dioxide directly from air.

So far, the amount that Oxy Low Carbon Ventures (Occidental Petroleum’s arm) and Chevron Technology Ventures have jointly invested in Carbon Engineering has not been revealed by either of the parties.

Occidental & Chevron tie up to invest in CE’s CO2 reduction technology

Carbon Engineering’s direct air capture (DAC) technology, for the uninitiated, captured CO2 directly from the atmosphere, post which it is converted into low-carbon fuels to be used for enhanced oil recovery as well as transportation.

A report by Reuters states that Carbon Engineering anticipates to reach its $60 million financing target by the end of Q1 2019, putting it on track to speed up the commercialization of DAC.

Steve Oldham, CEO, Carbon Engineering (CE), has been reported to say that these new investments will enable the company to accelerate the application of CE’s AIR TO FUELS and DAC technologies. The firm’s technologies play a pivotal role in an era retaining increased focus on the demand for aggressive emissions reductions, he continues, adding that the involvement of energy industry magnates like Chevron and Occidental will commendable speed up the commercialization scale of CE’s technology.

Experts vouch for the fact that while extracting a considerable amount of carbon dioxide from the atmosphere would help reduce global warming that is responsible for wildfires, rising sea levels, heatwaves, floods, and the like, CO2-elimination technologies are heavily exorbitant, and a vast number of plants would be required to make a dent in manmade CO2 emissions.

The joint investment, for the record, comes at a time when legislations across British Columbia and California are making low carbon fuels economically viable.

Read More @ http://allchemresearch.com/occidental-chevron-tie-invest-ces-co2-reduction-technology/

PPG to buy German automotive coatings manufacturer Hemmelrath

PPG Industries, Inc., a US-based global supplier of coatings, paints, and specialty materials, has reportedly signed a definitive agreement to acquire Hemmelrath Lackfabrik GmbH, a Germany-based manufacturer of automotive coatings. The acquisition is expected to strengthen PPG’s foothold in the automotive industry.

According to authentic sources, the American Fortune 500 company PPG is excited to add Hemmelrath to its robust, diversified offerings of automotive coatings. The latest acquisition move by PPG is apparently a major step forward in the company’s strategic plans for expansion, providing additional value to the customers as well as shareholders.

Rebecca Liebert, Senior Vice President at PPG Industries, automotive coatings, was quoted saying that the fit between PPG and Hemmelrath is complementary in nature. She further commented on the development and said that the Hemmelrath acquisition is most likely to enhance the automotive coatings offerings of PPG and help the company add manufacturing & formulating solutions.

PPG has been a trusted and reliable company for about 135 years and has helped solve the biggest challenges of its customers through its creativity and dedication. PPG operates in over 70 countries around the world, with its headquarters in Pittsburgh, USA. Familiar sources cited that the American company serves its customers in the market segments of consumer products, construction, transportation and industries. In the year 2017, PPG had reported a net sales worth US$ 14.7 billion.

Hemmelrath Lackfabrik GmbH, headquartered in Klingenberg, Germany, is a family-owned company that operates its production facilities in Germany’s Erlenbach and Klingenberg; China’s Jilin; Duncan in South Carolina, USA and Brazil’s Indaiatuba. Hemmelrath reportedly has a global supply chain for automotive plants, with over 450 employees and provides coatings for over 7 million vehicles every year.

It has been reported that the acquisition deal is slated to close in 2019’s first half and is subject to customary conditions. Financial terms of the transaction have not been disclosed yet.

Read More – http://packingmaterials.org/ppg-buy-german-automotive-coatings-manufacturer-hemmelrath/

Swindon to build first advanced plastics recycling facility in England

Swindon Borough Council has recently announced its plans of setting up an advanced recycling facility which would practically recycle all plastics, which includes plastic film and crisp packets.

Apparently, the recent proposed facility would be employing a recycling machine, that is provided by specialists Recycling Technology. This technology could seemingly convert plastic waste back into oil, and new plastics could be made from it.

Sources familiar with the matter said that Swindon would be hosting an advanced plastics recycling facility (aPRF), the first of its kind in England, and the second such facility in the UK.

Founder and Chief Executive of Recycling Technologies, Adrian Griffiths, mentioned that Swindon, which is the home of Recycling Technologies’ manufacturing facility and HQ, is set to become the first aPRF in the England that involves RT7000 feedstock recycling machine.

Griffiths further said that higher plastic recycling capacity is urgently needed in the UK for boosting economic prosperity and creating jobs across the region, as well as stop the flow of plastics into landfill and the environment.

The machine allegedly functions by the heating of plastic in the absence of oxygen for breaking down the waste plastic into oil. The procedure allows the machine for recycling plastics, which are considered to be unrecyclable, like crisp packets, food pouches and plastic film.

Further from the reports, this news comes a month after the Resources & Waste Strategy of the Government pledged for boosting the circular economy prospects of the U.K. through Extended Producer Responsibility (EPR) system’s major overhaul. It is anticipated that the packaging reform would raise somewhere between £500 million to £1 billion a year for recycling and disposal purposes.

Purportedly, the plastic recycling industry’s major problems are costing local councils in England an extra amount of up to £500,000 a year, as they are struggling in dealing with the continuous fallouts from import bans, which are imposed by nations that are not capable of taking the waste of U.K.

Read More – http://packingmaterials.org/swindon-build-first-advanced-plastics-recycling-facility-england/

Atlas Holdings buys packaging solutions provider Saxco International

Atlas Holdings LLC has reportedly purchased Saxco International, LLC, the foremost value-added distributor of packaging solutions to the food, craft beer, spirits, and wine markets. As per trusted sources, the financial terms of the deal are yet to be disclosed.

Partner at Atlas Holdings, Sam Astor was reportedly quoted stated that the company is delighted to welcome Saxco International to its manufacturing and distribution business. The sector expertise and proud heritage of Saxco has positioned it well for sustained growth, especially as specialty brands & crafts makers garner market access across all the beverage categories.

Astor further added that the number of wineries has continued to expand steadily over the last decade and the dedicated workforce and leadership team of Saxco International will now have the added support to meet the growing demand by delivering superior customer service. For the record, there are seven times as many distilleries in the U.S. as there were 10 years ago, and eight times as many breweries.

Chief Executive Officer of Saxco International, Guy Marsala reportedly commented that the new collaboration with Atlas Holdings demonstrate the beginning of the next great chapter in the company’s legacy. The proven track record of Atlas in investing the financial and human capital to fortify strong businesses is an ideal fir for Saxco and the future of a combined business is brighter, Marsala further added.

As per the press release issued by Atlas Holdings, Saxco International was established in 1936 and helmed for many years by Keith and Herb Sachs before being purchased by The Sterling Group in 2010. The company provides a broad range of services and products including custom packaging and mold development, closures, capsules, plastic, metal, and glass containers. Currently, the dedicated professionals of the company serve a wide-ranging customer base of over 5,000 specialty food manufacturers, brewers, distillers, and wineries across North America.

Read More – http://packingmaterials.org/atlas-holdings-buys-packaging-solutions-provider-saxco-international/

AR Packaging completes acquisition of Croatia-based Istragrafika

AR Packaging Group, the Swedish packaging company, has reportedly completed the acquisition of all outstanding shares in Istragrafika, a high-quality folding carton products maker based in Croatia, for an undisclosed amount. Reportedly, AR Packaging incorporated Istragrafika into its establishment on the 1st of January 2019.

As per authentic sources, Istragrafika, which was previously owned by British American Tobacco’s subsidiary TDR, produces quality commercial cardboard packaging and serves a huge customer base across various market segments including consumer goods, tobacco, and food services through its Kanfanar production facility. The company has potentially attracted as well as secured a number of multinational and local customers, with a competent workforce of about 160, added sources.

Harald Schulz, the Chief Executive Officer and President at AR Packaging Group, was quoted stating that the Swedish company holds a strategic plan which is built on three significant pillars including worldwide expansion with selective packaging solutions, growth in Europe’s selected business segments, and further improved cost efficiency & operational excellence. Schulz claimed that this approach of the company has turned out to be successful with the Istragrafika acquisition and is most likely to consolidate its footprints across the selected market segments.

It has also been reported that AR Packaging, with its strategic geographic expansion, is confident about providing the new unit—the customer base with sustainable supply of superior-quality products coupled with the highly-experienced and skilled management team at Istragrafika.

According to reliable reports, headquartered in Lund, AR Packaging Group, comprises myriad companies including Flextrus, A&R Carton, SP Containers, CC Pack, and Mediaköket, In Europe, the company has its core business in the segments including folding carton and flexible packaging and is also renowned for serving global industries of food processing and healthcare. It currently employs 3,200 people and operates around 18 facilities across 10 countries.

As per a report, the company aimed to be listed on the new year’s NASDAQ Stockholm and has started preparations from October for an IPO (Initial Public Offering)’

Read More – http://packingmaterials.org/ar-packaging-completes-acquisition-croatia-based-istragrafika/

South Korea bans disposable plastic bags at supermarkets and shops

The governmental officials of South Korea have reportedly announced the ban of disposable plastic bags in supermarkets and retail shops to reduce recyclable waste and save natural resources.

Reliable sources state that the ban would come into effect from January 1, 2019, as a revised law on saving resources and motivating people to reuse the recyclable waste. As per reports, the ban had taken place in 2,000 retail outlets and 11,000 supermarkets. Apparently, retail shops are prohibited to hand free plastic bags.

Credible sources claimed that the supermarkets and retail shops would offer paper bags, cloth shopping bags, or recyclable containers to their customers, as per the new regulation. Plastic containers will still be used only for wet goods like fish and meat. After the enforcement of new law, nearly 18,000 bakeries countrywide would be banned from handing free disposable plastic bags. Those stores who violate the ban could face penalty fines of up to three million won, which is roughly equivalent to $2,700.

The Environment Ministry in cooperation with local governments plans to observe the ban in affected stores from January till March. The ministry continues to put forward a plan to lower the use of plastic garment bags in laundry shops.

For the record, South Korea now joins countries like the Netherlands, France, Australia, and others that have recently banned or imposed penalty fees on using plastic bags. Plenty of organizations in the U.S. have also banned plastic straws or plastic bags to move toward a more environmentally friendly option. The Kroger Co., an American retailing company founded by Bernard Kroger, announced that by 2025 it aims to ban the usage of plastic bags at its grocery stores.

Earlier in Dec 2018, the city of Denver had reportedly stated that it was considering imposing a ban on products such as plastics bags.

Read More – http://packingmaterials.org/disposable-plastic-bags-supermarkets-shops/

Kansai Nerolac Paints acquires Perma Construction Aids for INR 29.10Cr

 

  • Shares of Kansai Nerolac Paints were up 1% intraday following the acquisition of the company.
  • The move comes under Nerolac’s ongoing efforts to grow the company’s portfolio to better serve its customers.

 

Kansai Nerolac Paints Limited (Nerolac), India’s largest industrial paint & third-largest decorative paint company, reportedly witnessed a 1% rise in its shares following its acquisition of Perma Construction Aids Pvt Ltd (Perma), a Mumbai-based construction chemical company.

Reports cite, the company had earlier announced that it has signed a Share Purchase Agreement (SPA) to procure 100% equity stake of the construction chemical company for a total amount of INR 29.10 crores.

Kansai Nerolac Paints acquires Perma Construction Aids for INR 29.10Cr

According to a public notice released by the company, the aggregate consideration amount of about INR 29.10 crores would be used to acquire approximately 990,000 equity shares of Perma at a face value of about INR 10 per share. The acquisition is scheduled to reach completion by January 28, 2019 and would be subject to satisfaction of Conditions Precedent mentioned in the SPA.

The Vice Chairman & Managing Director of Kansai Nerolac Paints, H M Bharuka stated that the company with this acquisition is further expanding its product portfolio in an effort to enable the company to facilitate a complete solution to its customers. Bharuka further added that the construction chemical portfolio of Perma Construction is complementary to the company’s product offerings & has synergies with its extensive paint distribution network.

Nerolac shares reportedly shot up by about 1.33% following the announcement of the acquisition with company shares trading at a high of about INR 486.25 per share on the Bombay Stock Exchange (BSE).

For the record, incorporated back in 1997, Perma Construction has been an active player in the business of construction chemicals with a product range spanning from epoxy & water-proofing to adhesives & admixtures.

According to reports, the acquisition would reportedly be subject to adjustments for borrowings, fixed assets as well as working capital as at the deal’s closing date.

Read More @ http://allchemresearch.com/kansai-nerolac-paints-acquires-perma-construction-aids-inr-29-10cr/

FSSAI’s new packaging laws to improve India’s food safety standards

The Food Safety and Standards Authority of India has reportedly banned the use of recycled plastic, newspaper and magazine pages for packaging of food materials. This initiative is being implemented in a bid to prevent the use of packaging materials that possesses potential health risk.

As per trusted sources, FSSAI, India’s top food regulator has framed a new food packaging regulation that is undergoing the process of being notified and is set to be effective from July 1, 2019. Pawan Agarwal, Chief Executive Officer of FSSAI was quoted saying that the packaging of food regulations has been forwarded for publishing and will raise India’s food safety standards, Agarwal added.

Sources claim that packaging regulations have been separated from the labeling ones to address the significance of packaging in the food industry and its effect on food safety in India. The latest regulations will swap places with the Food Safety and Standards Regulations, 2011. In addition to general and specific requirements for food packaging material, the law will also impose overall and explicit migration limits of impurities for plastic packaging materials. There also exists a suggestive list of packaging materials for various food product categories.

Moreover, FSSAI’s primary concern circles the unorganized sector that was found using packaging materials with harmful components. A survey carried out by the regulator revealed that 51 out of the 380 samples gathered from the unorganized sector, were found to be non-conforming, and accounted for an overall rating of 13.4%. The survey further unveiled more contaminations in the food items like lead, cadmium etc.

Reliable reports have it on record that the survey also showed packaging materials used by the organized sector to often be safe. However, it’s the unorganized sector that’s causing concerns for the regulator, particularly with the use of loose packaging materials, said Agarwal.

Maersk to build India’s first green warehouse to store chemicals

APM Terminals Inland Services, a unit of Maersk Group, has reportedly made plans to build India’s first eco-friendly ICD or inland container depot for managing chemicals in Pune.

The Ministry of Environment, Forest, and Climate Change has provided the Maersk Group company a comprehensive sanction to stock 35,000 tonnes of chemicals of all types, excluding radioactive chemicals and explosives, at its unit located in Pune about 150 km from Mumbai.

Maersk to build India’s first green warehouse

The ICD can reportedly handle 60,000 containers on an annual basis. Sources claim that it has 100,000 square feet of warehouse area, half of which is bonded and the other half is non-bonded, in addition to 50,000 square feet of yard area for stocking containers.

Ajit Venkataraman, Managing Director, South Asia, APM Terminals Inland Services, was quoted stating that there is immense import-export happening in the chemical sector, one among the biggest challenges faced by chemical firms is that of infrastructure to aid compliance as well as regulatory outlook, as there are not many facilities across India that match compliance standards, and this has been hampering industry progression.

The company deems this as an opportunity not only for itself, but also for other businesses operating in the chemical market to move to the next level, Venkataraman added.

APM Terminals Inland Services currently operates two inland container depots located in Dadri and Pune, as well as five CFSs, two of which are located in Mumbai while other three in Tuticorin, Chennai, and Mundra, cite trusted sources.

According to market analysts, this move is anticipated to support the Indian chemical industry, which is currently valued at $200 Bn, and makes up about 3% of the global chemical market. By the year 2025, it is expected that the local chemical industry would double its valuation and reach $400 Bn, pushing multinational chemical concerns to develop a base in India, claim analysts.

Read More @   http://allchemresearch.com/maersk-green-warehouse-store-chemicals/

Maersk to build India’s first green warehouse to store chemicals

APM Terminals Inland Services, a unit of Maersk Group, has reportedly made plans to build India’s first eco-friendly ICD or inland container depot for managing chemicals in Pune.

The Ministry of Environment, Forest, and Climate Change has provided the Maersk Group company a comprehensive sanction to stock 35,000 tonnes of chemicals of all types, excluding radioactive chemicals and explosives, at its unit located in Pune about 150 km from Mumbai.

Maersk to build India’s first green warehouse

The ICD can reportedly handle 60,000 containers on an annual basis. Sources claim that it has 100,000 square feet of warehouse area, half of which is bonded and the other half is non-bonded, in addition to 50,000 square feet of yard area for stocking containers.

Ajit Venkataraman, Managing Director, South Asia, APM Terminals Inland Services, was quoted stating that there is immense import-export happening in the chemical sector, one among the biggest challenges faced by chemical firms is that of infrastructure to aid compliance as well as regulatory outlook, as there are not many facilities across India that match compliance standards, and this has been hampering industry progression.

The company deems this as an opportunity not only for itself, but also for other businesses operating in the chemical market to move to the next level, Venkataraman added.

APM Terminals Inland Services currently operates two inland container depots located in Dadri and Pune, as well as five CFSs, two of which are located in Mumbai while other three in Tuticorin, Chennai, and Mundra, cite trusted sources.

According to market analysts, this move is anticipated to support the Indian chemical industry, which is currently valued at $200 Bn, and makes up about 3% of the global chemical market. By the year 2025, it is expected that the local chemical industry would double its valuation and reach $400 Bn, pushing multinational chemical concerns to develop a base in India, claim analysts.

Read More @   http://allchemresearch.com/maersk-green-warehouse-store-chemicals/