Page 17 - Plastics News January 2021

CompAny news

Neste processes 400t of liquefied Nordson realigns portfolio agrees

plastic waste in Finland selling screws and Barrels line

il refining and marketing dhering to its portfolio
Ocompa n y Ne st e h a s Arealignment consistent
successfully processed 400t in accordance with strategy
of liquefied plastic waste at to drive profitable growth
its refinery in Finland. The through highly differentiated
company has performed an products serving attractive
industrial-scale processing run end markets
with liquefied waste plastic
for the first time. During the Nordson Corporation has
process, the company upgraded entered into a definitive
the packaging and mixed waste agreement to divest the
plastics into high-quality screws and barrels product
recycled feedstock for use in petrochemical industry line from its polymer processing systems (PPS) division
Neste renewable polymers and chemicals executive vice- to Altair Investments (Altair).Sundaram Nagarajan,
president Mercedes Alonso said: “We are very excited to Nordsonpresident and chief executive officer, said,
have successfully completed our very first industrial-scale “Using NBS Next, Nordson’s growth framework, we are
processing run with liquefied waste plastic “While there focusing our resources on precision technology solutions
is still a lot of work to be done, this is a huge step for our that will deliver profitable growth for the company. Our
industry towards turning hard-to-recycle plastics from screws and barrels product line is a respected market
waste to a valuable resource, making circularity a reality leader in the polymer processing industry. While this
“Together with the renewable feedstock that we have product line no longer fits Nordson’s strategic focus, we
already been providing for the production of high-quality, believe it will do well with Altair. I want to personally
high-performance polymers and chemicals with reduced thank the employees, who support this product line,
carbon footprint, these new volumes produced through for their contributions to Nordson and wish them
chemical recycling of plastic waste will significantly success in their future with Altair.” Generating over
contribute to accelerating the necessary shift towards $70 million in annual revenue with 500 employees,
the circular bioeconomy for plastics. The achievement is this global product line has been reported in Nordson’s
in line with Neste’s strategy to promote circular economy Industrial Precision Solutions segment. Nordson and
and replace the use of crude oil at its refineries The Altairanticipate closing the transaction in the first
company has set a goal of processing more than one quarter of fiscal 2021. They will work collectively
million tonnes of waste plastic a year, starting from 2030. to ensure a smooth transition with no disruption to
Plastic producing company Ravago has helped Neste in customer service and support. Joseph Kelley, executive
sourcing liquefied waste plastic for the processing. Neste vice president and chief financial officer, commented,
oil products executive vice-president Marko Pekkola said: “This strategic portfolio transaction will improve the
“The trial run is a result of great cooperation throughout company’s ongoingearnings and require a one-time,
the Neste organisation. We have technically advanced non-cash asset impairment charge of approximately
refineries and the required expertise in refining low- $87 million. This action underscores our commitment
quality waste and residue raw materials into high-quality to align andfocus ourresources with the best strategic
end products.” In the sourcing of liquefied waste plastic opportunities for long-term profitable growth.”
for the first processing run, Neste was supported by its Founded in 1954 and headquartered in Westlake, Ohio,
partner Ravago and several other plastics value chain USA the Nordson company serves numerous consumer
partners, in developing chemical recycling technologies non-durable, durable and technology end markets
and capacity to enable recycling of plastic waste streams including packaging, nonwovens, electronics, medical,
that are considered unsuitable for mechanical recycling appliances, energy, transportation, construction, and
and are currently destined for incineration or landfills. general product assembly and finishing.

17 Januar y 2021 Plastics News