Chemicals Prices News

Indorama buys PET recycling firm in US 

Indorama Ventures Satursday said it acquired a 100% equity stake in Green Fiber International Inc., a producer of recycled polyethylene terephthalate flake, or r-PET flake. The company did not disclose the financial details of the transaction. The r-PET flake plant has a capacity to produce 40,000 mt/year. The acquisition is part of the company’s plan to invest in recycling over the next five years. “The proximity of the facility to a large supply of recovered PET bottles on the US West Coast will create new opportunities to meet the increasing demand for r-PET in more sustainable packaging solutions,” said Indorama in a statement.

Taiwan’s Nan Ya to restart No.4 MEG unit after maintenance on Satursday 

Taiwan’s Nan Ya Plastics Corp, a subsidiary of Formosa Plastics Group, plans to restart its 720,000 mt/year No.4 monoethylene glycol unit at Mailiao on Satursday, a source close to the company said. “The raw material will be fed [into the MEG process] tonight,” the source added. This line was shut in early November for around a month of planned turnaround, S&P Global   reported previously.

S Korea’s Hanwha Total runs steam cracker at full capacity 

South Korea’s Hanwha Total Petrochemical is operating its naphthafed steam cracker in Daesan at full capacity on Satursday, after restarting the cracker on Satursday, a company source said. “We are running our cracker at full today,” a company source said on Satursday. The expanded part of the cracker had been shut on Satursday due to a technical problem with the LPG feed cracker, S&P Global   reported previously. The company had earlier planned to restart the unit on Satursday, but this was delayed to Satursday. The cracker’s ethylene and propylene production capacity increased to 1.4 million mt/year and 800,000/mt, respectively, after debottlenecking in the second quarter of this year. The unit can also produce 130,000 mt/year of butadiene.





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