INDUSTRY NEWS
Sustainable Specialty Chemicals provider Perstorp Group acquired by PETRONAS Chemicals Group
Perstorp Group, a leading sustainability-driven global specialty chemicals company, today said that it is to be acquired by PETRONAS Chemicals Group Berhad (PCG). PCG announced today that it has signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB. The agreement was signed with Financière Forêt S.à.r.l, a company under PAI Partners, a European private equity firm.
Jan Secher, President and CEO of Perstorp said, “We are excited to become part of the PETRONAS family. I see a strong commonality in values and priorities for how to take our respective businesses forward, meeting the challenges and opportunities of the future. By tapping into PCG’s strength and market leading position in the Asia Pacific region, we are confident that Perstorp can continue to develop into its next phase of growth. Being part of PCG means Perstorp gets the scale to increase the
pace of innovation and accelerate our sustainable transformation, which is at the forefront of the chemical industry. PCG’s and Perstorp’s businesses complement each other very well.”
Perstorp is highly regarded among its customers for its product quality and application expertise, supply reliability, customer centricity and Pro-Environment products and solutions.
PCG’s journey to achieve its vision of becoming the preferred chemical company providing innovative customer solutions is based on a clear strategy; to strengthen its basic petrochemicals portfolio, and to selectively diversify into derivatives, specialty chemicals and solutions.
LINK
www.petronas.com
www.perstorp.com
The producers’ response to the new French requirements on waste oil management
To prevent and manage waste, France has a scheme called Extended Producer Responsibility (EPR). EPR is based on the “polluter pays” principle – companies that put their products on the French market are responsible for their entire life-cycle, from design to end- of-life. The EPR scheme aims to cover the whole cycle: eco-design of products, waste prevention, extension of service life and end-of-life management. Most often, producers in the same sector choose to join forces to meet their obligations by creating an eco- organisation – a private, non-profit, State-approved company.
In 2020, France passed a new law, creating a dedicated EPR system for waste oils and lubricants. The following year, under the leadership of the CPL (Centre Professionnel des Lubrifiants - Professional Lubricants Centre) and 22 volunteer French producers, CYCLEVIA was born and became the sector’s eco-organisation. Approved by the public authorities
on 23 March 2022, this new organisation, which is unique within the sector, is tasked with shouldering producers’ responsibilities, particularly with regard to the collection and processing of waste oils.
The producer makes a financial contribution upon joining CYCLEVIA. This ‘eco-contribution’ is then redistributed in the form of support to the industry stakeholders who collect and treat the waste. This eco-contribution is not a levy collected by CYCLEVIA, but part of the cost of the product that enables the prevention and management of waste oils to be funded. The eco-contribution for 2022 amounts to €89/tonne and is due from 1st April that year. This contribution may be adjusted to reflect factors that favour environmentally friendly products.
LINK
www.lube-media.com/industry-news/
LUBE MAGAZINE NO.169 JUNE 2022
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