Page 159 - CW E-Magazine (19-3-2024)

News from Abroad News from Abroad

TAKING CONTROL GROWING PRESENCE
Perstorp buys out minority partner at China polyol site Italmatch Chemicals opens Saudi offi ce; inks MoU

Sweden’s speciality chemicals said Mr. Magnus Lannér, EVP Integra- with Saudi Aramco to advance localisation
supplier, Perstorp, has bought out its ted Supply Chain.
minority partner in the joint venture, Italian specialty additives manufac-
Shandong Perstorp Chemical Co., Ltd. Based on the company’s ambitious turer Italmatch Chemicals has inaugu-
(formerly Shandong Fufeng Perstorp sustainability targets for 2030, Perstorp rated its Middle East’s new headquar-
Chemical Co. Ltd.), which has owned has developed actionable roadmaps ters offi ce in Saudi Arabia, located in
and operated Site Zibo in China. Per- outlining hands-on activities to lower Dammam City. Italmatch Chemicals’
storp is now the sole owner of the polyol greenhouse gas emissions, reduce Chairman and CEO, Mr. Sergio Iorio,
manufacturing operation, located in Zibo, waste, save fresh water and enable sus- together with Italmatch Middle East
Shandong province, about 400-km the competitiveness of Site Zibo,” the tainable transformation throughout the CEO, Mr. Carlos Galeano, were present
south of Beijing. company informed in a press note. value chain. For the operations at Site at the event. Italmatch said the move is
Zibo, the Scope 1 roadmap contains a in line with its commitment to estab-
The jv was established between “Reaching our long-term strategic number of projects designed to reduce lishing a deeper footprint within the
Perstorp and Chinese partner Shandong direction and our sustainability targets emission while also minimising waste region by creating a complete value
Fufeng Hongjin Investment Co., Ltd. for 2030 mean that we need to develop production and water consumption. chain of phosphorus-based deriva-
in 2007. “Gaining full ownership will both our business and the way we ope- tives.
ensure that Perstorp can continue deve- rate our site. Our ambition is to continue As part of the deal, the operation
loping the site, and can aim to make developing safety, sustainability and at Site Zibo has changed its name to “We look forward to continuing our
substantial site upgrades to safeguard operational excellence at Site Zibo,” Shandong Perstorp Chemical Co. Ltd. journey of growth and innovation in the
Kingdom of Saudi Arabia and further
EXPANSION enhance our contributions thanks to the
Mitsui Chemicals raising meta-xylylene diisocyanate support of our shareholder Dussur,” the
company said in a press note.
capacity In 2022, Dussur, the Saudi Arabian

Industrial Investments Company, had
Japan’s Mitsui Chemicals is in- bought a stake in Italmatch Chemicals
creasing production capacity by 20% from private equity group Bain Capital.
at the meta-Xylylene Diisocyanate product localisation and supply chain leveraging on their expertise and
(XDI) plant within its Omuta Works MoU with Saudi Aramco development in the Kingdom of Saudi resources, companies’ collaboration
(Japan) in response to growing demand Italmatch Chemicals also inked Arabia. “The collaboration between will drive innovation in the KSA
for hardeners used in hardly yellowing a Memorandum of Understanding Italmatch Chemicals and Saudi Aramco and will create a positive value for
coatings. The work on the expansion (MoU) with energy & chemicals major, also marks a promising initiative aimed the expansion of the Saudi Arabian
has started with operational launch ten- Saudi Aramco, to cooperate in the at the growth of the Kingdom. By market,” a company statement said.
tatively scheduled for September 2025.
Zeon subsidiary begins production at expanded
XDI is a special isocyanate that
Mitsui Chemicals was the fi rst in the aroma chemicals facilities
world to produce on a commercial
scale. XDI is widely acknowledged as Zeon Chemicals Yonezawa – a subsi- to meet market needs and for a stable
a high refractive index ophthalmic lens diary of Japanese chemicals group, supply, as steady market growth is
material offering high durability, and as Zeon Corporation – has started full- expected in fl avours and fragrances
a coating and functional material for its scale production with expanded pro- industry,” the company stated. The
outstanding resistance to yellowing and duction facilities at its aroma chemical expansion at Zeon Chemicals Yonezawa
quick-curing properties. plant. Zeon said it will gradually dou- will also contribute to achieving the
life needs and shift away from mixed inks & coatings used in solar cells and ble the production volume of its main production target for aroma chemicals,
The company said demand for XDI materials particularly in items such as smartphones, and microcapsules, which products, including green note pro- sales of which are expected to increase
would further increase due to quality of adhesives for food packaging, special also require a high level of safety. ducts. “This expansion was carried out toward 2030, it added.

158 Chemical Weekly March 19, 2024 Chemical Weekly March 19, 2024 159

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