Focus of this week: the epidemic continues to hit global industry, and oil giants such as shell have raised funds to deal with the debt crisis. Construction of chemical projects such as leandrbassel and Nova was suspended. There is a shortage of protective equipment such as masks, Michelin is converted to production, Asahi chemical industry and other Japanese enterprises expand the production of non-woven fabrics. The outbreak also led to the closure of the Spanish factory in Vestas, the cancellation of the 2020 us paint exhibition, etc. In addition, Nippon continues to invest in new projects in China, GM will sell engines to new airliners in China, and Three Gorges new energy will raise 25 billion yuan to invest in offshore wind power projects.
Global industrial giants responding to the epidemic
The oil giants raised $32 billion in debt to deal with the crisis. In recent weeks, several of the world's largest oil companies have raised more than $32 billion in debt to set up special funds to deal with the financial impact of the coronavirus outbreak, while retaining shareholder dividends. Shell raised 3 billion euros and $3.75 billion this week, while BP raised 3.25 billion euros and $3.25 billion. Total and equinor issued 3 billion euros and 5 billion dollars respectively. Austria's OMV raised 1.75 billion euros. Exxon Mobil had raised $8.5 billion in the past few weeks.
Michelin will produce protective masks. Michelin, a French tyre manufacturer, will launch three factories in Troyes, Puy en Velay and Clermont Ferrand to produce type 1 respirators. These protective materials will be distributed to the group's staff and medical staff who will gradually return to work. The group also plans to work with CEA (Center for energy, industry, defense and Security Research) to manufacture a new generation of FFP2 masks. Michelin also supported France's only respirator manufacturer, Air Liquide Group, and said it was carrying out a "project to assemble and produce another ventilator".
Japanese enterprises increase production of mask raw materials. Japan's Nikkei Textile Holding Co., Ltd. has started to produce absorbent cotton for masks with shirt fabric equipment. It plans to produce absorbent cotton for 2 million masks before the end of May. The first batch of products arrived in Japan as early as April 12. Asahi has doubled the production of non-woven fabrics for masks in Japan. Dongli is considering using non-woven fabrics produced overseas to supply masks. 80% of masks in Japan are imported and need to be purchased from overseas. This time, we hope to solve the shortage of raw materials, but it will take some time to eliminate the supply shortage.
2020 us paint show announced its cancellation. 2020 organizers of the novel coronavirus pneumonia (ACS / ACC) announced that the 2020 American paint exhibition was cancelled due to the global new crown pneumonia virus pandemic. The next exhibition will be held in April 2022. Launched on ACC virtual on May 6, it will provide ACC demonstration through in-depth online learning experience.
Leanderbusser suspended the construction of large-scale propylene oxide / TERT butanol units in the United States. Lyon Dell Basel announced that the company will suspend the construction of its propylene oxide / TERT butanol unit in Channelview, Texas. Because of the new coronavirus pandemic, which has proliferated in the United States in the past few weeks, companies are limiting unnecessary activity. In August 2018, about 30% of the projects have been completed, and the installation of key equipment and towers is in progress. Choose to restrict construction activities at this time, because the base has not yet produced the required products.
Novachem suspended construction activities. Nova chemicals in Canada is adjusting the construction of its new ast 2 polyethylene facility and the Coruna cracker expansion project in Ontario, temporarily focusing on the most critical work, which will reduce the total number of construction workers by about 90%. Phased expansion will be considered where appropriate to allow for the safe completion of construction activities. Novachem also said it had suspended commissioning and construction activities on its revamped cracking plant in Alberta. Once it is believed that the risk of exposure is reduced, construction work will resume.
Honeywell has asked some of its suppliers to reduce prices by 30 percent and extend payment terms and other concessions. Honeywell said customers asked us for support to balance the impact on its supply chain. In turn, we ask our supply chain partners to provide similar support. Honeywell is looking for a 30% full price reduction, an additional 60 day payment period, a 2% rebate on future order volume growth, and its suppliers holding Honeywell inventory, and immediate settlement of pending claims against the company.
Vestas, the world's largest fan manufacturer, has decided to suspend production at its Spanish plant. As novel coronavirus continues to spread, the world's largest fan manufacturer, Vestas, has decided to suspend production in its Spanish factories to contain the spread of the virus. At the same time, Vestas suspended production and construction of Indian wind turbine plants. In the first quarter of this year, the Danish wind turbine manufacturer's orders reached 2064mw in the first three months of 2020.
Global dynamics
Venture global LNG has completed the overall commissioning of the liquefaction equipment of calksu channel. The first mixed refrigerant compression system of venture Global's Calcasieu pass project has been successfully commissioned at Baker Hughes' testing plant in Massa, Italy. Only seven months after the final investment decision of the project, the overall commissioning has verified the design, function and performance of the calksu channel process system. This is a major achievement and progress in the industry.
Rusal and Glencore have reached a long-term aluminum supply agreement with a maximum value of 16.3 billion US dollars. Rusal has approved a long-term aluminum supply agreement with Glencore with a maximum value of $16.3 billion. Glencore has always been one of the important customers of Rusal. Glencore is also a shareholder of Rusal's parent company, en + group. Rusal said that the effective period of the new agreement is 2020-2024, which can be extended to 2025. According to the latest contract, Rusal will supply Glencore with 6.9 million tons of aluminum, including 344760 tons in 2020. From 2021 to 2024, the annual supply of 17 is about 1.6 million tons.
Orders for Japanese machine tools fell for 18 months. According to data released by the Japan working machinery industry association, the total machine tool orders in March decreased by 40.8% year on year to 77.3 billion yen, 18 consecutive months lower than the previous year. The trend of postponing investment is expanding with the auto related industries that have been shut down successively as the center. From total orders blue, domestic orders decreased by 36.5% to 34.2 billion yen, while overseas orders decreased by 43.8% to 43.1 billion yen. Zhipu machinery (formerly Toshiba machinery) said that business trips at home and abroad are limited and difficult to negotiate.
China dynamics
The second phase project of new materials (Jinan) Co., Ltd. was started. Libon new material (Jinan) Co., Ltd. phase II - 150000 tons of real stone texture coating project started. Libon new materials (Jinan) Co., Ltd. opened on April 26, 2019. Jinan base has introduced and adopted advanced production technology from abroad and advanced fully automatic production equipment from home. Xing ronghua, senior vice president of production supply chain of libon China construction coatings business group, said at the opening ceremony last year: "through the implementation of the 4.0 intelligent manufacturing project of dry mortar industry, libon new materials (Jinan) Co., Ltd. will be built into an intelligent manufacturing modern chemical plant representing the first-line level of dry mortar manufacturing."
Three Gorges new energy plans to raise 25 billion yuan to invest in offshore wind power projects, or become the largest IPO project of a share since 2020. From the perspective of the investment direction of the raised funds, offshore wind power projects are the top priority, including seven projects such as the Three Gorges new energy Yangxi Shaba 300MW offshore wind farm project, with a planned use of raised funds of 20 billion yuan. By the end of 2019, the company's offshore wind power projects have been put into operation and are under construction with a total scale of 1.47 million kilowatts, which is expected to increase to 6 million kilowatts in 2020. Three Gorges new energy is mainly engaged in new energy power generation business.
Honeywell helps Wuhan to create a new city card. Wuhan was "unsealed" and a number of large-scale commercial centers were officially "restarted". Yunshang joined the queue of Wuhan's resumption of production and work on March 30. Honeywell's project team arrived at the site in time to test and commission various subsystems and intelligent equipment of the business center, ensure the smooth operation of parking management, background music, intelligent lighting, building automation and other systems, and prepare for normal business; at the same time, it is also making intense preparations for the opening of intelligent projects of other business types of buildings.
Ge sells engines to new Chinese airliners. Ge will supply cfmleap-1c engine to COMAC, which will be used in China's C919 airliner. C919 is a single channel trunk airliner independently researched and developed by COMAC in accordance with airworthiness standards and mainstream market standards in line with international standards and with independent intellectual property rights. The C919 project is the second largest order of general aviation, a subsidiary of Ge.
South Korean Doosan construction machinery sold 32 excavators in China. Doosan Infracore, South Korea, recently sold 32 medium excavators in China. These 22 ton excavators will be put into the construction site of Changchun subway, expressway, bridge, etc. through two large-scale infrastructure enterprises in Jilin Province. Doosan engineering's customers have expressed their intention to purchase at least 10 additional units, according to which the company believes that China's construction machinery industry impacted by the epidemic is recovering rapidly.
Tesla China releases long endurance model 3. Tesla released the model 3 long-range and performance high-performance models made in China. The starting prices of the two models are respectively 33905000 yuan after the subsidy and 419800 yuan before the subsidy. At the same time, the imported model 3 is removed from the shelf. In terms of domestic long endurance model 3, the international condition method endurance mileage is 668km, which is 223km higher than the upgraded model 3 of standard endurance from the price of 299050000 yuan, with an increase of about 50.1%.
M & A and spin off
Emerson acquired American governor. The acquisition will further expand Emerson's technical strength and professional reserves in the renewable energy and power industries. American governor is a leader in the field of turbine control technology and service. Its solution can effectively control the turbine, and help the power plant to provide reliable power generation capacity, so as to timely respond to the dynamic demand of the grid.
Celanese completed the acquisition of Norion redispersible polymer powder business. The acquisition transaction has been completed, and all necessary transaction conditions and regulatory approval have been obtained. Celanese has taken over Norion's redispersible polymer powder manufacturing facilities in Europe and Asia, the elatai range of products, and global customer contract agreements, technology and commercial facilities. Celanese plans to integrate Eltek's redispersible polymer powder products and production facilities into its global acetyl product chain business to further meet the needs of the global market. Eltek has manufacturing facilities in Europe and China.
Earnings Express
Bauhinia paint. Yeshi Chemical Group Co., Ltd., the parent company of Bauhinia paint group, announced its full year performance as of December 31, 2019. In 2019, Ye's core business performance improved significantly, with annual sales of HK $10.46 billion, and shareholders' share of net profit increased by 47.7% to HK $273 million on an annual basis. During the review period, Bauhinia's sales reached HK $1.61 billion, while its operating efficiency was more significant, resulting in a significant decrease in operating expenses, which rose to HK $56.6 million on an annual basis.
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