NEWS
SK Global invests in PET recycler Loop
SK Global Chemical (SKGC), a subsidiary of South Korea’s SK Group, has taken a 10% stake in Canadian PET depolymerisation technology company Loop Industries. The two companies have also signed an MoU to form a 51-49 joint venture to build four facilities throughout Asia. SKGC’s investment amounts to a
total of $56.5m. The first tranche will be used to help fund construction of Loop’s Infinite Loop manufacturing facility Bécancour in Québec. The second tranche will follow when the first Asian site is completed. At present, that is forecast for 2022 and will be in South Korea.
According to Loop, four Asian facili- ties will be built by 2030 as part of the JV. Total projected throughput of waste PET in these is expected to amount to 400,000 tonnes/year, with associated CO2 savings of 632,100 tonnes/yr. Loop will receive royalty based on revenues from each plant. Loop’s technology, which is yet to be implemented on a commercial scale, is claimed to depolymerise PET to allow it to be upcycled to virgin-quality. According to the company, contami- nants such as dyes and additives are eliminated during the process. �
www.skglobalchemical.com �
www.loopindustries.com
Avient sets sights on cork
Avient has launched a new special-effect masterbatch package under the Renol and Remafin brands for production of natural-looking TPE wine corks. The new masterbatches have been developed at
the Avient ColorWorks site at Merate in Italy using TPEs supplied by compounder Marfran. They have been trialled at a TPE cork manufacturer. The new formulations comply with FDA and EU food contact standards. Avient said they can be produced using existing injec- tion moulding technology and are price- competitive with natural cork counterparts. �
www.avient.com
DIC closes BASF colour deal
Japan’s DIC Corporation finally closed its acquisition of BASF’s global pigments business — BASF Colors & Effects – at the end of June. The deal, first agreed in August of 2019, had been held up by regulatory processes in the US and EU. Colors & Effects is a leading global supplier of high-performance, special effect, and specialty inorganic pigments. It generates annual sales of
www.compoundingworld.com
around €1bn. DIC said the business fits very well with its existing Sun Chemical pigments subsidiary with little overlap in their technologies, products, manufacturing assets and supply chain. The combined operations mean DIC now has 30 pigment production facilities worldwide. �
www.dic-global.com �
www.colors-effects.com
dingkechen@hotmail.com
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