When it comes to sorting scrap, the ChemLine™ Automatic Scrap Sorting System is the only LIBS sorting system on the market that processes 5 tons per hour of shredded metal. This system can sort magnesium (Mg) from aluminum (Al), wrought from cast Al and 5xxx from 6xxx Al and is used by one of the world’s largest aluminum manufacturers. Designed for 24/7 operation, this system works as hard as you do, with minimal maintenance.
Saudi Aramco, Riyadh, Saudi Arabia, has announced that it has signed a share purchase agreement to acquire a 70 percent stake in Saudi Basic Industries Corp. (SABIC) from the Public Investment Fund (PIF) of Saudi Arabia. The private transaction is valued at SAR 259.125 billion (or SAR 123.39 per share), which is equivalent to $69.1 billion. The remaining 30 percent of publicly traded shares in SABIC
Headquartered in Riyadh, SABIC has global operations in more than 50 countries with 34,000 employees. In 2018, SABIC’s consolidated production volume across its various business units was 75 million metric tons. The company recorded net income of $5.7 billion, annual sales of $45 billion and total assets of $85 billion.
H.E. Yasir Othman Al-Rumayyan, managing director, PIF of Saudi Arabia, says, “This is a win-win-win transaction and a transformational deal for three of Saudi Arabia’s most important economic entities. It will unlock significant capital for PIF’s continued long-term investment strategy, underpinning sectoral and revenue diversification for Saudi Arabia. Furthermore, it will introduce a strategic owner that can add considerable value to SABIC and all its shareholders while capitalizing on SABIC’s strong capabilities to unlock the opportunities for growth that Saudi Aramco, a key player in energy markets around the world, can offer.”
Amin Nasser, president
“Saudi Aramco’s downstream strategy is focused on meeting global customer needs by securing outlets for our crude oil through the expansion and growth of our refining system and deepening its integration with petrochemicals production," Abdulaziz Al-Judaimi, senior vice president of downstream, Saudi Aramco, says. "We are pursuing partnerships and acquisitions where we create long-term value and developing groundbreaking crude-oil-to-chemicals technologies. SABIC is a good strategic fit and a solid platform to support our continued investment for future growth in petrochemicals—the fastest growing sector of oil demand.”
Saudi Aramco says the acquisition is in line with its long-term strategy to drive growth through an enhanced downstream portfolio by increasing global participated refining capacity from 4.9 million to 8 million to 10 million barrels per day by 2030, of which 2 million to 3 million barrels per day will be converted into petrochemical products. This downstream portfolio will consume significant quantities of Arabian crude oil, the company says.
SABIC has announced its intention to work in cooperation with customers Unilever,
SABIC says its certified circular polymers will be produced in the Netherlands from plastic scrap feedstock developed by United Kingdom-based Plastic Energy Ltd. The firm says the recycled-content polymers will “offer a drop-in alternative for customers looking at meeting the needs of various challenging applications.”
SABIC signed a memorandum of understanding (MoU) with Plastic Energy Ltd., a chemical plastics recycling company, in late 2018. Under the MoU, Plastic Energy will supply
The plant, which SABIC says is expected to enter commercial production in 2021, helps that company achieve its commitment to establishing a circular economy and its sustainability goals.
LBX Company, a manufacturer of hydraulic excavators and scrap material handlers based in Lexington, Kentucky, has raised $51,000 in support of the American Heart Association’s (AHA) Life is Why We Give February campaign. LBX made a commitment to donate $500 for every Link-Belt excavator, forestry machine or material handler retailed in February in North America.
This is the third year LBX has participated as a national supporter of the campaign. LBX previously raised $48,500 and $47,500 for the campaign in 2017 and 2018.
“LBX is proud to continue our involvement with the American Heart Association. We thank our dealers and employees for a great month of results that couldn’t have happened without their support,” LBX Company President and CEO Eric Sauvage says. “With their help, we sold 102 machines in February.”
Sauvage is a longtime volunteer and board member with the Central Kentucky American Heart Association in Lexington. Sauvage has been a board member since 2012 and has served as the chapter’s Heart Walk chairman since 2017.
“As business leaders in our community, we can work together to help our employees and customers live longer, fuller and healthier lives,” Sauvage says. “Together, we can make an impact.”
LBX is also a supporter of the Central Kentucky Heart Walk in May.
“They join many companies across the nation who have chosen to make an extraordinary impact in the fight against heart disease and stroke by participating in this campaign,” says Joey Maggard, executive director for the Lexington Division of the American Heart Association. “We are deeply grateful for their ongoing support.”
Hand-held analyzers and automatic scrap sorting from the LIBS experts
TSI | ChemLogix™ offers laser metal analysis and sorting tools for positive metals identification (PMI) and sorting of scrap metal.
With the ChemLite™ Laser Metals Analyzer:
- ID in one second.
- Measure with an eye-safe laser – no regulations.
- Sort alloys XRF can’t.
- Measure ferrous (Fe), copper (Cu), nickel (Ni), aluminum (Al), magnesium (Mg) and titanium (Ti).
When it comes to analyzing and sorting metal, see for yourself how fast LIBS is at the ISRI Convention & Exposition. Just listen for the scrap being sorted at Booth B8!
For more information, visit www.tsi.com/demo.
Dynamic Lifecycle Innovations, a full-service electronics
According to a news release, clients can now use a “single-source vendor with extensive in-country resource” to ensure a secure chain of custody while reducing transportation and overall service costs. Dynamic’s global partners also ensure “local environmental legislation and compliance standards are adhered to on a country-by-country basis.”
“At Dynamic, we leverage our industry expertise and vast partner network to eliminate complexity and conflict,” says Miranda Monahan, director of global technology partners, Dynamic Lifecycle Innovations. “We help customers achieve their global ITAD objectives with custom solutions in their best financial
Dynamic Lifecycle Innovations’ worldwide coverage now includes seven approved partners and 68 approved foreign facilities. Combined with Dynamic’s 14 approved domestic facilities, the facilities allow clients to benefit from flexible, single-source global risk management programs covering more than 100 countries. A detailed world map view of Dynamic’s approved global partner and facilities coverage is available here.
“In today’s fast-paced world of technology, anything vendors can do to simplify a solution for their clients makes them that much more attractive and competitive,” says Randy Hall, global alliance principal at Hewlett-Packard. “Dynamic has created a global solution for an ever-changing world.”