Company News
August 26, 2022
Recticel Results
Recticel First Half-Year 2022 Results
Regulated information, Brussels, 26/08/2022 — 06:59 CET, 26.08.2022
- Net sales increase from EUR 229.7 million to EUR 274.3 million (+19.4%), of which +15.6% organic growth, +0.6% currency effect, EUR 38.5 million contribution from Trimo, and a EUR 31.0 million drop in sales of chemicals to the divested Automotive companies
- Adjusted EBITDA: from EUR 22.4 million to EUR 29.2 million (+30.3%)
- Result of the period (share of the Group): from EUR 28.0 million to EUR 34.6 million
- Net financial debt: EUR 254.9 million (31 December 2021: EUR 147.8 million; 30 June 2021 : EUR 206.6 million)
Olivier Chapelle (CEO): “We are satisfied with the sales and profitability development of our Insulation activities, in a highly challenging environment characterised by supply chain disruptions, by historical inflation on raw materials, labour, transportation and energy costs, and by economic uncertainties. Volumes have been slightly higher than in 2021, and our business teams have been able to compensate all inflationary pressures during the period. In parallel, our operations teams have displayed high flexibility to accommodate the supply chain challenges.
The first half of 2022 has seen intense M&A activity, with sequentially the closing of the Bedding divestment to Aquinos on 31 March, the closing of the Trimo acquisition on 29 April, the final exit out of the Proseat joint venture on 20 May. The Competition and Markets Authority in the UK has recently decided to refer the divestment case of Engineered Foams to a phase II investigation, with the closing of the transaction now expected latest by the first quarter of 2023.”
OUTLOOK
Our Insulation business continues to perform well in difficult economic circumstances. However, the geopolitical turbulences, supply chain challenges and economic uncertainties prevent us from providing an outlook for the full year at this stage.
https://www.recticel.com/recticel-first-half-year-2022-results.html
August 25, 2022
Wanhua Cracker Project
- 25 August, 2022
- Anna Larionova
Wanhua received regulatory approval for cracker project
MOSCOW (MRC) — Wanhua Chemical has obtained approval from Shandong provincial development and reform commission for its No 2 cracker with 1.2m tonne/year capacity and downstream polyolefin project at Yantai, said the company announced.
Major derivatives will include a 250,000 tonnes/year of low-density polyethylene (LDPE) plant, two polyolefin elastomer (POE) units each at 200,000 tonnes/year of capacity, a 200,000 tonne/year butadiene (BD), a 400,000 tonnes/year of aromatics extraction, and a 550,000 tonne/year cracked gasoline hydrogenation plant.
Constructions are estimated to take three years.
The timeline is not revealed.
As per MRC, Wanhua Chemical, a major petrochemical producer in China, says it will spend USD3.6 billion to build a chemical complex in Penglai, China, by 2024. The project’s centerpiece will be a propane dehydrogenation plant (PDH) with 900,000 metric tons per year of capacity. The complex will also make propylene oxide, polyether polyols, ethylene oxide, acrylic acid, polypropylene (PP), and other products.
https://www.mrchub.com/news/403737-wanhua-received-regulatory-approval-for-cracker-project
August 25, 2022
Wanhua Cracker Project
- 25 August, 2022
- Anna Larionova
Wanhua received regulatory approval for cracker project
MOSCOW (MRC) — Wanhua Chemical has obtained approval from Shandong provincial development and reform commission for its No 2 cracker with 1.2m tonne/year capacity and downstream polyolefin project at Yantai, said the company announced.
Major derivatives will include a 250,000 tonnes/year of low-density polyethylene (LDPE) plant, two polyolefin elastomer (POE) units each at 200,000 tonnes/year of capacity, a 200,000 tonne/year butadiene (BD), a 400,000 tonnes/year of aromatics extraction, and a 550,000 tonne/year cracked gasoline hydrogenation plant.
Constructions are estimated to take three years.
The timeline is not revealed.
As per MRC, Wanhua Chemical, a major petrochemical producer in China, says it will spend USD3.6 billion to build a chemical complex in Penglai, China, by 2024. The project’s centerpiece will be a propane dehydrogenation plant (PDH) with 900,000 metric tons per year of capacity. The complex will also make propylene oxide, polyether polyols, ethylene oxide, acrylic acid, polypropylene (PP), and other products.
https://www.mrchub.com/news/403737-wanhua-received-regulatory-approval-for-cracker-project
August 24, 2022
Propylene Oxide Implications
OLIN ANNOUNCES CHLOR ALKALI CAPACITY REDUCTION
Aug. 24, 2022 4:05 PM ETOlin Corporation (OLN)
CLAYTON, Mo., Aug. 24, 2022 /PRNewswire/ — Olin Corporation (OLN) announced today that it plans to permanently shut down approximately 225,000 ECU tons of diaphragm-grade chlor alkali capacity at its Freeport, TX facility. The closure is expected to be completed by year end 2022.
“Including this closure, Olin will have rationalized over one million ECU tons of diaphragm-grade chlor alkali capacity in less than two years,” remarked Scott Sutton, Olin Chairman, President, and Chief Executive Officer. “These actions demonstrate our commitment to lift and maintain our ECU values, while developing a more sustainable asset configuration.”
COMPANY DESCRIPTION
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.
Visit www.olin.com for more information on Olin.
August 24, 2022
Propylene Oxide Implications
OLIN ANNOUNCES CHLOR ALKALI CAPACITY REDUCTION
Aug. 24, 2022 4:05 PM ETOlin Corporation (OLN)
CLAYTON, Mo., Aug. 24, 2022 /PRNewswire/ — Olin Corporation (OLN) announced today that it plans to permanently shut down approximately 225,000 ECU tons of diaphragm-grade chlor alkali capacity at its Freeport, TX facility. The closure is expected to be completed by year end 2022.
“Including this closure, Olin will have rationalized over one million ECU tons of diaphragm-grade chlor alkali capacity in less than two years,” remarked Scott Sutton, Olin Chairman, President, and Chief Executive Officer. “These actions demonstrate our commitment to lift and maintain our ECU values, while developing a more sustainable asset configuration.”
COMPANY DESCRIPTION
Olin Corporation is a leading vertically-integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.
Visit www.olin.com for more information on Olin.
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