From KAITEKI Report issued in September
Link to SL Tec
MMA is used for a wide range of applications, including cars, building materials, displays, transparent sheets, and coatings. Demand is expected to rise steadily in line with each country&#;s GDP. The MCG Group has capabilities in all three main MMA manufacturing methods, including the new ethylene method (Alpha technology) that is the most cost competitive, and is equipped with the world&#;s largest capacity. We aim to leverage this potential to build a solid global No. 1 position. At the same time, we are working to develop PMMA recycling technology and bio-MMA monomer to contribute to a circular economy.
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Includes the effect of partially complete large investment in a U.S. facility; ROIC excluding the investment is 9%.Strengths
Weaknesses
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The MCG Group defines &#;sustainable MMA&#; as MMA monomer manufactured through (1) chemical recycling, where used acrylic resin is collected and broken down for reuse; (2) new manufacturing technologies that use bio-based raw materials with existing MMA monomer production processes; or (3) entirely new manufacturing technologies that use fermentation of bio-based raw materials to produce MMA monomer directly. We are working to develop these technology approaches to MMA manufacturing.
For approach (1), we constructed pilot facilities in Japan in June and are running tests ahead of commercialization. We have also made progress in the technology development for approach (2) and are now designing a new pilot plant. We will start operating the pilot plant in fiscal to test the technology and product quality, with the goal of applying this technology to existing commercial-scale plants in . We will take an active lead in initiatives to realize a circular economy by reducing the environmental burden right across the supply chain.
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Further strengthening our sustainability-related products*
Refers to approach (2) in the text aboveRöhm, OQ (Oman) and OQ Chemicals have signed a Memorandum of Understanding (MoU) to evaluate the construction of a new production plant for MMA on OQ&#;s site in Bay City (Texas/USA). In this plant, a newly developed production process will be implemented for the first time on a large industrial scale. Röhm, a portfolio company of Advent International, has developed the unique and proprietary LiMA technology to produce MMA, an important precursor for PLEXIGLAS® (branded in the Americas as ACRYLITE®) and for multiple applications ranging from coatings and adhesives to medical products and road markings.
&#;We are very pleased to have found in OQ a very competent and reliable partner,&#; says Dr. Michael Pack, CEO of Röhm. &#;This project will strengthen the reliability of our supply chain towards our valued customers in the Americas and globally. Basic engineering for this C2&#;based technology has been under way for some time already and will allow us to decide on the final investment in the first half of . We are on track and expect to start-up production in .&#; The acronym LiMA reflects the ambitions of Röhm: LiMA stands for &#;Leading in Methacrylates&#;.
Methacrylate monomers and their derivatives are important precursors for industries such as the automotive and construction industries. The new plant will have a production volume of 250,000 tons and create about 70 direct jobs.
The new technology is based on the raw materials ethylene and methanol, which are readily available on the US Gulf Coast. This guarantees customers the highest level of supply security. At the same time, the technology enables a high product yield with low energy consumption and reduced wastewater volumes. This technology sets new standards for using resources efficiently and for making notable reductions in its environmental impact. &#;Sustainability is an integral part of our business strategy&#;, explains Dr. Hans-Peter Hauck, COO. &#;No doubt, LiMA is the most efficient MMA production technology developed so far and is part of our sustainability program.&#; The process has been running in a pilot plant since in Darmstadt (Germany) where it consistently delivers very good results.
MMA is produced by Röhm on several sites all over the world. &#;With our new plant we&#;ll complete our technology platform in our global production Verbund. We now have all available synthesis routes for MMA at hand and strengthen our global cost position,&#; explains Hauck.
&#;The signing is an important step towards the realization of the so-called LiMA project,&#; explains Ron Ayles, Managing Partner at the financial sponsor Advent International. &#;With its implementation, Röhm will strengthen their technological competence and further expand their leading market position. We are especially pleased to support this groundbreaking new technology and that we have found as partner our former portfolio company OQ Chemicals, that we have built a good understanding and trust with over the many years.&#;
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