PETpla.net Insider 04 / 2016

NEWS 8 PET planet insider Vol. 17 No. 04/16 www.petpla.net MEGlobal to build MEG production facility at Dow’s Oyster Creek/TX operations MEGlobal, a wholly-owned subsidiary of Equate Petrochemi- cal Company, plans to construct a new world-scale monoethylene glycol (MEG) manufacturing facility at Dow’s Oyster Creek site in Freeport, Texas, USA. The new MEG facility will be owned by MEGlobal and is the Company’s first manufacturing unit in the United States. The new MEGlobal plant will create 1,400 construction jobs at the project’s peak, and the Company will employ approximately 50 new workers when it goes on stream in mid-2019. The new site will benefit through a long-term ethylene supply agreement with Dow from its new ethylene cracker. Dow’s new ethylene cracker is part of the existing infrastructure that is intended to make the Dow Texas Operations attractive for locat- ing the new MEG plant on the U.S. Gulf Coast. Construction continues to progress on the site, with the cracker more than 40% complete and on track for start-up in the second quarter of 2017. Dow will also complete ethane feedstock flexibility for an ethylene cracker at the Company’s Louisiana Operations site, on track for start-up in the second half of 2016. Equate Petrochemical Company is an international joint venture between Petrochemical Industries Company (PIC), The Dow Chemical Company (Dow), Boubyan Petrochemical Company (BPC) and Qurain Petrochemical Industries Company (QPIC). MEG is used in a number of market applications, including PET bottles and packaging, polyester fibres, antifreeze and coolants, paints, resins, deicing fluids, heat transfer fluids and construction materials. www.dow.com www.equate.com www.meglobal.biz IVL acquisition of Cepsa Business in Spain complete Chemical producer Indorama Ventures Public Company Limited (IVL) has announced the acquisition of 100% of the Purified Isopthalic Acid, Polyethylene Terephthalate (PET and Purified Terephthalic Acid (PTA) assets of Cepsa Química S.A., a subsidiary of Compañía Española de Petróleos S.A.U. (“CEPSA”) in Guadarranque-San Roque, Cadiz, Spain. The company will be renamed Indorama Ventures Química S.L.U. All closing formalities are completed. IVL has taken charge of the operation effec- tive April 7, 2016. The acquisition is said to make Indorama Ventures a world-leading producer of Isopthalic Acid, a key chemical additive in the manufacture of PET for packaging. In addition, the acquisition is intended to provide IVL with a stronger base in Europe. www.indoramaventures.com/EN Strengthening sales activities for injection moulding machines KraussMaffei has appointed Klaus Zeiler as the new Head of the Logistics/Packaging business unit in the injec- tion moulding machinery segment with immediate effect. He is taking over the duties of Emilio Lopez, who in future as Area Sales Manager for Ibero-America will concentrate on the expansion of the sales activities for the KraussMaf- fei and Netstal brands in the entire Latin American region. Lopez has been in charge of the Log/Pack business unit since its creation in 2013, which he successfully set up with Zeiler. Zeiler brings many years of experience from the packaging system business to his new activity. He sees the further worldwide expansion of operational business for large and transportation packagings as the objective of his new task. “I am delighted that we have acquired the services of Klaus Zeiler, a long-standing employee and plastics expert, for the post of Head of the Log/Pack Business Unit. Due to his excellent personal and technical skills, as well as his good customer contacts, he will help to strengthen and extend the worldwide market position in this important business area for KraussMaffei,” said Nadine Buhmann, Vice President Sales of the Injection Molding Machinery segment at KraussMaffei. www.kraussmaffei.com