Page 40 - Plastics News April 2021

Business news

Reifenhäuser acquires air cooling HPL gets NCLT nod to takeover

ring maker Kdesign NOCL

achine and plant manufacturer Reifenhäuser has aldia Petrochemicals Ltd (HPL) has received approval
Macquired a majority stake in Kdesign GmbH, a global Hfrom the National Company Law Tribunal (NCLT) to
leader in the manufacture of air cooling rings and measuring take over and revive the defunct oil refinery project of
systems for blown film extrusion lines. With this purchase Nagarjuna Oil Corp Ltd (NOCL).HPL plans to set up an
Reifenhäuser Group, a specialist in extrusion technologies, oil-to-chemical (O2C) project at the site of the defunct
expands its in-house expertise in cooling, controlling, NOCL refinery in Cuddalore in Tamil Nadu. The NCLT
measuring and calibrating blown films and will give its
customers in this segment an even clearer competitive edge
in the future. Kdesign remains an independent company
within the Reifenhäuser Group and its business and
customer relationships will continue unchanged. Joachim
Lange and Richard Zimmermann continue to head the
company as managing directors. Current Kdesign customers
will also benefit. As a member of the Reifenhäuser Group,
Kdesign now has access to a large international service
network and the world’s largest privately run research
and development centre for plastics extrusion. Richard
Zimmermann, managing director of Kdesign, says, “We
will be able to be closer to our customers in the future giving its approval for HPL’s plan to revive the NOCL
and have better development opportunities. Our location refinery and petrochemical project said in its order
is just 20 minutes away from Reifenhäuser’s headquarters.
We are looking forward to working together and having a that the proposed action “has the potential to achieve
close personal exchange.” Also Reifenhäuser will presen local demand in the refinery sector.” The NCLT in its
ts sustainable packaging solutions at Chinaplas 2021 order, accepted HPL’s proposal to make a payment
From April 13 to 16 2021. As a leading solution provider of Rs 6 billion to the company’s creditors to acquire
NOCL’s project assets. The HPL project would also help
to develop other downstream industries in Cuddalore,
the NCLT order stated. “The proposed project has
been conceptualized considering the integration
of petrochemical block with upstream light crude
processing facility to generate feedstock for ethylene
cracker and aromatics block,” HPL said in a submission to
the Environment Ministry in October 2020. HPL plans to
execute the project in two phases. In the first phase, it
will construct a 1.8m tonnes/year ethylene cracker and
downstream units including high density polyethylene
(HDPE), linear low density polyethylene (LLDPE), mono
for Circular Economy products, Reifenhäuser promotes ethylene glycol (MEG) and polypropylene (PP) lines.
its production machines for monomaterial composites as “Besides these, the complex would produce chemicals
well as other components. Reifenhäuser will present this like benzene, butadiene, di-ethylene glycol (DEG), tri-
unique combination of fully recyclable monomaterials and ethylene glycol (TEG) to service demand from domestic
digitalized recycling not only at its trade show booth, but and export market,” HPL said. In the second phase, the
also in a lecture at the "Plastics Recycling and Circular company plans to set up a 1.6m tonnes/year paraxylene
Economy Conference and Showcase 2021" that will take (PX) line and a 1.25m tonnes/year purified terephthalic
place at the Crowne Plaza Shenzhen Nanshan on April 12. acid (PTA) plant, it added.

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