Global petrochemical company adds polycarbonate resins and blends to its TruCircle product line.
Saudi Arabia-based SABIC is now offering what it calls a certified circular polycarbonate (PC) resin, saying it is the first such resin in the industry based on advanced or chemical recycling.
The company says its “certified circular” polycarbonate (PC) resin and blends are “made from the upcycling of post-consumer mixed plastic – a first in the industry.” The recycled-content PC will be marketed as part of SABIC’s TruCircle product line.
Adds SABIC, “This solution, based on advanced recycling, demonstrates SABIC’s ongoing commitment to drive toward a circular economy for plastics by increasing the availability of more sustainable products.”
According to an internal SABIC life cycle analysis study, the new PC resin offers a potential carbon footprint reduction up to 23 percent “in comparison with its incumbent.”
States Abdullah S. Al-Otaibi, a general manager with SABIC, “We are proud to have developed a new solution that can help our customers to meet their sustainability targets and generate value by increasing the amount of recycled post-consumer mixed plastic they process.”
He adds, “SABIC is continuously broadening its sustainability offerings, and in ETP (engineering thermoplastics) specifically, new solutions in our polycarbonate portfolio to help support our customers’ increasing needs for circular content and CO2 footprint reduction.”
The company says the new TruCircle PC resins are made from post-consumer mixed plastic scrap that is not always cost-effectively mechanically recycled. “Through a process called pyrolysis, difficult-to-recycle used plastic is broken down into a liquid called pyrolysis oil. This is then used as a feedstock to create certified circular building blocks for high-performance plastics with the same properties as the virgin material – in this case, polycarbonate,” says SABIC.
The PC resin line, some types of which are known by the commercial name Lexan, now forms part of SABIC’s ETP portfolio and includes blends such as Cycoloy and Xenoy. “Customers across industries such as electrical and electronics, automotive, health care, building and construction and consumer goods may use the certified circular polycarbonate under identical process conditions to those used for its incumbent,” states SABIC.
The recycled-content PC is certified by what SABIC calls an independent third party under the International Sustainability and Carbon Certification (ISCC PLUS) protocol using “a standardized mass balance approach, which provides a method of asserting the recycled material content along predefined and transparent rules.”
SABIC’s TruCircle portfolio was launched in 2019 with the intention of “creating a circular economy for plastics and to provide manufacturers with access to more sustainable materials,” states the global company. The TruCircle portfolio “spans design-for-recyclability, mechanically recycled products, certified circular products from feedstock recycling of used plastics, certified renewables products from bio-based feedstock and closed loop initiatives to recycle plastic back into high quality applications and helps prevent valuable used plastics from becoming waste,” adds the firm.
The products received AmeriStar Package Awards for being fully recyclable and reducing customers’ carbon footprints.
Paper-based packaging producer Smurfit Kappa, headquartered in Dublin, has been recognized in the AmeriStar Package Awards Competition, which singles out the most innovative packaging designs of the year in the United States.
The company’s ThermoBox won in the Food, Refrigerated category. This solution is an alternative to expanded polystyrene (EPS) packaging and has the required thermal properties while also being easier to recycle. Additionally, the ThermoBox requires half the space of traditional packaging and guarantees the controlled-temperature supply chain for foods and products that require isothermal packaging, such as laboratory equipment and medicines, among others.
Smurfit Kappa also was awarded in the Others category for the new corrugated insert it developed for Clover Imaging Group, a customer that uses boxes to ship toner cartridges. The solution requires no glue or tape, is easy to assemble manually and is fully recyclable, the packaging producer says.
Both products will be exhibited at the Innovation Showcase in the Institute of Packaging Professionals’ stand at Pack Expo Sept. 27-29 in Las Vegas, as well as on its website and in social media.
“Our products are the result of our employee’s focus on research and innovation, as they constantly seek new ways to create sustainable packaging solutions,” Eduardo Rubio, CEO of Smurfit Kappa North America (SKNA), headquartered in Irving, Texas, says. “These awards show us that we’re on the right path and decidedly encourage us to continue working towards creating a better planet.”
Juan G. Castaneda, CEO of Smurfit Kappa The Americas, adds, “In Smurfit Kappa, we are committed to sustainability and creating circular economies; this is our way to contribute to a Better Planet. We innovate and design packaging that responds to the latest trends and contributes to reducing waste across the world. We are very proud of our team in SKNA for obtaining these awards which are aligned with our purpose to create, protect and care.”
CEO Worthing Jackman says 2021 could be another outsized year for M&A.
Waste Connections Inc., Ontario, announced its earnings results for the second quarter Aug. 4.
Highlights of the results include:
"Broad-based strength drove an across-the-board beat in the second quarter, positioning us to raise our outlook for the full year. Revenue and adjusted EBITDA in Q2 increased 17.5 percent and 23 percent, respectively, over the prior year primarily as a result of continued improvement in solid waste pricing and volume growth and strength in recovered commodity values. These trends drove year-to-date adjusted EBITDA margin expansion of 110 basis points and adjusted free cash flow of over $585 million, up 18.5 percent year over year," Worthing F. Jackman, president and CEO of Waste Connections, says. "Given the strength of our results in the first half of the year and expected continuing momentum and margin expansion from these trends, we believe we are on track to report approximately $5.975 billion of revenue and $1.875 billion of adjusted EBITDA in 2021, exceeding our initial outlook provided in February. More importantly, full year adjusted free cash flow is also pacing ahead of initial expectations and is now estimated at approximately $1 billion, or 53 percent of adjusted EBITDA.
"2021 also has the potential to be another outsized year of acquisition activity. Year to date, we have signed or closed 14 acquisitions with total annualized revenue of approximately $115 million, including $75 million of franchise operations in California, Nevada and Oregon expected to close later this year,” Jackman continues. “We continue to see record amounts of seller interest driving elevated acquisition dialogue and, as communicated throughout the year, expect closings related to most of this activity to be more weighted to the second half of the year. Our recently expanded credit facility and continuing balance sheet strength provide the flexibility to fund outsized acquisition activity along with an increasing return of capital to shareholders."
Revenue in the second quarter totaled $1.53 billion, up from $1.31 billion in the year-ago period. Operating income was $266.8 million, which included $6.4 million in fair value accounting changes to equity awards and $6.1 million of impairments and other operating items. This compares with an operating loss of $232.4 million in the second quarter of 2020, which included $437.3 million in impairments primarily related to a decrease in property, plant and equipment at certain oil and gas exploration and production, or E&P, waste landfills. Net income in the second quarter was $177 million, or 68 cents per share on a diluted basis of 261.4 million shares. In the year-ago period, the company reported a net loss of $227.1 million, or 86 cents per share on a diluted basis of 263 million shares.
Adjusted net income in the second quarter was $210.9 million, or 81 cents per diluted share, versus $158 million, or 60 cents per diluted share, in the prior-year period. Adjusted EBITDA in the second quarter was $484.9 million, 31.6 percent of revenue, as compared with $394.3 million and 30.2 percent of revenue in the prior-year period. Adjusted net income, adjusted net income per diluted share and adjusted EBITDA primarily exclude impairments and acquisition-related items.
For the six months ended June 30, revenue was $2.93 billion, up from $2.66 billion in the year-ago period. Operating income, which included $7.3 million primarily related to fair value accounting changes to equity awards and $6.7 million in impairments and other operating items, was $505.2 million as compared with operating loss of $15.4 million for the same period in 2020, which included $445.2 million primarily related to impairments and other operating items.
Net income for the six months ended June 30 was $337.4 million, or $1.29 per share on a diluted basis of 262.3 million shares. In the year-ago period, the company reported net loss of $84 million, or 32 cents per share on a diluted basis of 263.4 million shares.
Adjusted net income for the six months ended June 30 was $396.3 million, or $1.51 per diluted share, compared with $328.5 million, or $1.25 per diluted share, in the year-ago period. Adjusted EBITDA for the six months ended June 30 was $918.1 million and 31.3 percent of revenue, up from $802.8 million and 30.2 percent in the prior-year period.
Waste Connections also updated its outlook for 2021, which assumes no change in the current economic environment or underlying economic trends, including as a result of or related to impacts from the COVID-19 pandemic or the Delta variant of the coronavirus. The company's outlook excludes any impact from additional acquisitions that may close during the year and expensing of transaction-related items.
David Biderman says ETTAC will provide advice to the Commerce Department that seeks to protect the environment, reduce greenhouse gas emissions and benefit American companies.
The Solid Waste Association of North America (SWANA), Silver Spring, Maryland, has announced David Biderman, the association's CEO, has been elected as chair of the Department of Commerce’s Environmental Technologies Trade Advisory Committee’s (ETTAC) Waste Management and Circular Economy Subcommittee.
“I am honored to have been selected by the other members of this important federal advisory committee to chair the new Waste Management and Circular Economy subcommittee,” Biderman says. “The nexus between proper waste management, the circular economy, climate change and marine litter is well-established, and ETTAC will provide timely and actionable advice to the Commerce Department that seeks to protect the environment, reduce greenhouse gas emissions and benefit American companies. The environmental challenges associated with solid waste are significant global issues, and SWANA is well-positioned to lead in this area.”
SWANA says it has expanded its international profile in recent years. SWANA hosted the International Solid Waste Association World Congress (ISWA) in September 2017 in Baltimore. From 2018 through 2020, SWANA developed a landfill training and capacity-building education program for Colombia and other Latin American countries. Biderman has also spoken at international solid waste conferences in Europe, Asia and Latin America and participated on several ISWA webinars.
According to a news release from SWANA, the association provided training to nearly 100 landfill managers and government officials and hosted a tour of Georgia disposal and recycling facilities for a delegation from Colombia and Chile. Additionally, SWANA is currently having discussions with a growing number of solid waste stakeholders in Latin American and the Caribbean concerning future projects.
“David was instrumental in getting waste management tied to the circular economy when the committee was selecting the three subcommittees for the 2021-2022 ETTAC Charter,” says Dana Blumberg, vice president with SCS Engineers and a member of the ETTAC. “I nominated him to be the subcommittee chair because I think his leadership will assist the committee with specific and actionable recommendations to the Secretary of Commerce."
Ford among companies signing onto Biden administration effort to produce 50 percent EV fleets.
Five auto manufacturers with assembly operations in the United States have issued a statement saying they will work with the federal government to strive to have from 40 to 50 percent of the vehicles they make in the U.S. be electric vehicles (EVs) by 2030.
The five companies—BMW, Ford, Honda, Volkswagen and Volvo Cars—issued a joint statement on August 5 noting they had previously “partnered with California when the previous administration attempted to roll back federal vehicle emissions standards.”
The statement continues, “We were proud to stand with California to establish progressive new greenhouse gas regulations, and we remain committed to leading the industry in fighting against climate change. That’s why we support the [Biden] administration’s goal of reaching an electric vehicle future and applaud President Biden’s leadership on reducing emissions and investing in critical infrastructure to achieve these reductions.”
Scrap processors and auto shredding plant operators, in particular, are keeping a close watch on whether and how EVs gain market share in North America. The average EV contains less steel, iron and cast aluminum compared with internal combustion engine (ICE) vehicles, with shredding plants configured to focus on those metals.
Recyclers of lead-acid batteries and catalytic converters likewise have a business model tied to the future prospects of ICE vehicles.
“While the California framework companies are driving toward 40 to 50 percent of our sales being EVs in the next nine years, bold action from our partners in the federal government is crucial to build consumer demand for EVs and put us on track to achieve the global commitments of the Paris Climate Agreement,” add the automakers in their early August statement.
The five companies are requesting “a strong nationwide greenhouse gas emissions standard, continued investments in charging infrastructure and broad consumer incentives for all EV purchases.”