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Domestic news: Leadership changes at Fujian Refining & Chemicals and Yizheng Chemical Fibers. On the afternoon of April 25, Sinopec Group held a video conference to announce changes in the leadership team of Fujian Refining & Chemicals Company. Gu Yuefeng is no longer serving as the Party secretary and chairman of Fujian Refining & Chemical Company, the Party secretary and chairman of Fujian United Petrochemical Company, or the vice chairman of Fujian Gulei Petrochemical Company. He has been transferred out of Fujian Refining & Chemical Company and assigned to another position. Liu Xiangdong is temporarily in charge of all party and administrative affairs at Fujian Refining & Chemical Company and Fujian United Petrochemical Company. On April 26, Sinopec Yizheng Chemical Fiber Company held a meeting for its management staff, during which the company announced the decision made by the Party leadership group of the parent company regarding the changes in the leadership team of Yizheng Chemical Fiber: Cao Laiyu was appointed as a member of the Party Committee and Chief Accountant of Yizheng Chemical Fiber Co., Ltd ； Li Jianping is no longer a member of the Party Committee and the chief accountant of Yizheng Chemical Fiber Co., Ltd.; he now holds the position of second-level assistant. Hengyi Petrochemical’s net profit for the first quarter was approximately 1.213 billion yuan. On the evening of April 26, Hengyi Petrochemical released its report for the first quarter of 2021. The data shows that the company achieved operating revenue of 30.845 billion yuan in the first quarter of 2021, a year-on-year increase of 63.44% ； The net profit attributable to the shareholders of the listed company was 1.213 billion yuan, a year-on-year increase of 48.71% ； The net profit attributable to the shareholders of the listed company, after deducting non-recurring gains and losses, was 1.228 billion yuan, representing a year-on-year increase of 68.38% ； The basic earnings per share is 0.33 yuan per share. Regarding the changes in performance, Hengyi Petrochemical stated that in the first half of 2020, the price gap for polyester filaments showed an overall downward trend, driven by reduced demand from the downstream textile and apparel industry as well as accumulated inventory levels ； In the second quarter, as demand for epidemic prevention supplies overseas increased, exports of polyester filaments rose, inventory levels dropped, and the price gap saw a slight recovery. In the third quarter, the global textile and apparel industry entered a cycle of inventory replenishment, leading to an increase in demand for polyester filaments and a subsequent upward trend in this sector. Affected by the pandemic, Hengyi Petrochemical was able to maintain stable performance in 2020, largely thanks to its advantage in having a comprehensive presence across the entire petrochemical industry chain. China’s first road made from recycled plastic waste was unveiled recently. Dow Chemical, together with the Chinese dairy brand Rili Xianyu and East China University of Science and Technology, held a ceremony to mark the opening of China’s first asphalt road paved using recycled plastic milk bottles. This road made of recycled plastic is 300 meters long and 5 meters wide; it was created using Dow Chemical’s innovative ELVALOY RET asphalt modification technology, with more than 6,000 discarded milk bottles and other plastic waste mixed into the asphalt for its construction. Compared to conventional surfaces paved with pure asphalt, polymer-modified asphalt (PMA) surfaces exhibit superior performance and greater durability. It is reported that on World Earth Day, Dow Corporation announced a partnership with Daily Fresh Language, aiming to reduce plastic waste entering the natural environment through innovative solutions. To help dairy brands such as Daily Fresh Language find new uses for plastic milk bottles, Dow has leveraged its expertise in materials science and technology to introduce new solutions. He emphasized that the program collects these difficult-to-recycle plastics, processes them into PMA post-consumer recycled plastics, which are then used for paving roads and other surfaces. In this way, plastic waste does not end up entering the natural environment directly. Furthermore, paving PMA roads will reduce the use of asphalt, extend the lifespan of roads, and lower greenhouse gas emissions and energy consumption. Eken plans to invest 3 billion to expand its silicone business in China. On April 26, Eken’s board of directors approved a strategic expansion of the company’s silicone factory in China worth 3.8 billion Norwegian kroner (approximately 3 billion yuan), in order to strengthen Eken’s position in China’s fastest-growing silicone market and further support its strategy of specialization. This project will increase the factory’s production capacity for high-quality upstream products by over 50%. The project will also significantly improve environmental performance, reducing energy consumption by 57%, raw material use by 11%, and solid waste by 30%. Yahua Group to increase lithium hydroxide production capacity On April 25, Yahua Group issued a statement indicating its intention to raise the production capacity of battery-grade lithium hydroxide from 20,000 tons to 50,000 tons for the project funded through previous fundraising. The main reason for the adjustment is the “continuous growing demand for lithium salt products, in order to continuously meet the needs of downstream customers”. The project will be constructed in two phases; phase one will involve the establishment of a production line for 30,000 tons of battery-grade lithium hydroxide, with a construction period of 2 years ； In the second phase, production lines for 20,000 tons of battery-grade lithium hydroxide and 11,000 tons of lithium chloride and its derivatives were established; construction commenced after Phase 1 reached full capacity, taking 2 years. After the adjustment, the fund-raised investment project is “a new project to produce 50,000 tons per year of battery-grade lithium hydroxide, 11,000 tons per year of lithium chloride, and related products”. The total investment for the project is 2.364 billion yuan, of which the investment in project construction (including value-added tax) amounts to 2.078 billion yuan. Demei Chemical is transferring approximately 90.99% of the shares in its holding subsidiary, Zhongwei Chemical. On the evening of April 26, Demei Chemical issued a statement announcing that it intends to transfer all of its shares in Zhongwei Chemical, its holding subsidiary, to Yang Xiaoning. The company’s board of directors agrees to submit the following matters to the shareholders’ meeting for approval: approval of the company’s transfer of its shares in Zhongwei Chemical ； Agree to the company signing a share transfer agreement with the buyer, whereby all shares in Zhongwei Chemical held by the company after the capital increase in that company are transferred to the buyer ； The underlying consideration for the equity in Zhongwei Chemical held by the company is 43.7674 million yuan. The company currently holds 72.77% of the shares in Zhongwei Chemical. It plans to increase its investment in Zhongwei Chemical, and the proportion of shares to be transferred will be determined based on the share structure after this capital increase ； Based on preliminary estimates, the company is expected to hold approximately 90.99% of the shares in Zhongwei Chemical after the capital increase. Upon completion of this transfer, the company will no longer hold any shares in Zhongwei Chemical. Panjin Sanli Zhongke plans to build an MMA project. Recently, Panjin Sanli Zhongke’s 100,000-ton/year methyl methacrylate (MMA) production project was established in the Panjin Fine Chemicals Industrial Development Zone. It is reported that this project is a technology transfer initiative resulting from the collaboration between Panjin Sanli Zhongke New Materials Co., Ltd. and the Dalian Institute of Chemical Physics, Chinese Academy of Sciences. Panjin Sanli Zhongke will carry out the construction of two phases of projects, which will primarily use raw materials such as ethylene, natural gas, and ethylene oxide to produce high-value-added new materials. The total investment in these projects is 2.1 billion yuan, and the main construction elements include 5 production units as well as supporting facilities such as a sewage treatment plant. International News: BASF and Omya establish a global partnership for hollow glass microspheres. On April 27, BASF and Omya joined forces to develop BasoSphere hollow glass microspheres for use in cementing applications in the oil and gas industry. With its unique combination of shape and size, as well as lower density and higher compressive strength, BasoSphere is a series of engineered hollow glass microspheres that offer an excellent strength-to-density ratio, while preventing fluid loss and formation damage during well completion. It will be commercially marketed exclusively by BASF. The innovative hollow glass microspheres combine BASF’s chemical and application expertise in cement setting products used in the oil and gas industry, with Omya’s experience in filler production. ““We are pleased to collaborate with Omya to develop this lightweight cementing solution, thereby enhancing the products we offer to the global oil and gas industry,” said Damien Caby, Senior Vice President of Petrochemicals and Mining Solutions at BASF. “By reducing the amount of cement required, BasoSphere hollow glass microspheres also help to decrease carbon dioxide emissions during the completion of oil and gas wells. ” Covestro further expands film production in Germany. According to recent reports from foreign media, Covestro has launched additional high-quality specialty film production lines at its plant in Dormagen, Germany. The new co-extrusion production line is designed to meet the growing global demand. This project is part of a global plan to expand film production capacity, with a total investment of over 100 million euros; it was completed as scheduled despite the constraints imposed by the COVID-19 pandemic. The new production line will mainly produce multi-layer flat films. For example, these products play an important role in identification documents by enabling the incorporation of security features to prevent forgery as much as possible. At the same time, they are also used in medical technology and automotive interior fields. Corten of the United States introduces a new polymer that can provide long-term protection against the coronavirus. Recently, Corten announced that the U.S. Environmental Protection Agency (EPA) has granted an emergency exemption for the use of its new sulfonated polymer, which is capable of rapidly inactivating coronaviruses. The EPA has issued emergency permits for the specific use of this polymer in Georgia, Utah, and Minnesota in the United States. American Airlines will be the first to use this material in these states. This material is a transparent solid that can provide long-term antibacterial protection for surfaces; in laboratory conditions, it is capable of killing up to 99.99% of the SARS-CoV-2 virus. The company named this polymer production line BiaXam. According to this specialized polymer manufacturer, BiaXam can provide continuous protection for up to 200 days, depending on the methods of use and cleaning. This polymer can also be applied to other plastics, metals, and glass, as well as being used as a film. Disclaimer: The content contained herein is sourced from the Internet, WeChat official accounts, and other public sources. We maintain a neutral stance regarding the views expressed in it; this article is intended solely for reference and discussion purposes. The copyright of the reproduced articles belongs to the original authors and institutions; if there is any infringement, please contact us to have it removed. Source: China Chemical Industry Information Weekly