Citadel Plastics acquires The Composites Group

Citadel Plastics Holdings, a global provider of thermoplastic and engineered composite compounds, will acquire The Composites Group (TCG), a manufacturer of engineered composite compounds, from Dallas, TX-based Highlander Partners, L.P. The transaction is expected to close by November. Terms were not disclosed.

"TCG is a very strategic acquisition for Citadel, bringing outstanding expertise in material science technology, as is evidenced by its broad portfolio of proprietary engineered composites spanning BMC, SMC,TMC, and high-performance composites," said Mike Huff, CEO of Citadel. "The addition of TCG, our eighth acquisition since setting out to build a comprehensive materials solution provider, will significantly increase our presence in engineered composites and improve our positioning for future growth with existing and new customers in current and new end markets."

The Composites Group, headquartered in Cleveland, OH, offers a portfolio of engineered composite compounds, including fiberglass and carbon fiber compounds, and parts supported by research and development capabilities. TCG sells its compounds across end markets that include aerospace, automotive, defense, electrical, energy, heavy machinery and recreation.   

"The addition of TCG expands Citadel's ability to fulfill a variety of customer needs across multiple sectors," said Kevin Andrews, president of Citadel Engineered Composites. "Like Citadel, TCG is critical to its customers' development initiatives. The combination of experience and greater global scale achieved through this transaction enhances both organizations' ability to partner with customers to provide innovative technical solutions."

"The combined businesses of Citadel and TCG create a complementary platform that is well positioned to serve the needs of our collective customer base today and in the future," said Terry Morgan, CEO of The Composites Group. 

The acquisition of TCG will be the eighth plastics-related acquisition for Citadel since 2007 and the 39th overall acquisition since 2008 for HGGC, a middle-market private equity firm with a controlling interest in Citadel.

Tungsten Carbide Ball Valve passes Sand Slurry Test

Watson Grinding & Mfg. and Oil States Industries announce that their metal seated ball valve with tungsten carbide coating was unaffected by sand slurry test environment.

The 2-1/16" 5,000psi 4130 alloy steel ball valve with tungsten-carbide-coated ball and seat components spent approximately 50 hours in service. The API 6AV1 Class II test specification consists of 50 hours' flow with a sand slurry media flowing through the valve, followed by 500 open/closed cycles with sand slurry flowing through. The acceptance criterion of zero leakage was met. Test media was a water/sand mixture with strict specifications for sand particle size, sand content and viscosity. Test temperature was ambient and pressure was 5000psi maximum.

The purpose of the R&D was to study the amount of leakage. This test was performed for no specific application; however, emergency shutdown valves (ESDVs) require this certification.

Mucon launches RGV Roller Gate Slide Valve

Mucon launched its new RGV Roller Gate Slide Valve. Designed for the bulk materials handling industry, the RGV Roller Gate Valve is a robust, heavy-duty valve that is ideally suited for the isolation and control of most dry powders, pellets, grains and granules.

The Mucon RGV Roller Gate Valve provides uninterrupted product flow, which reduces material hang-up and wear of the blade support rollers. Its sealed steel rollers and heavy-duty construction ensures an extended service life and years of reliable operation. The valves are easily adapted for round outlets or ducts. It comes with a self-loaded blade scraper seal that provides excellent product retention and wipes the blade during operation. All seals and guides are replaceable with the valve in-line, dramatically reducing service and maintenance downtime.

Garlock reintroduces their Butterfly Valve Line

The Garlock family of companies has reintroduced the Garlock butterfly valve line, a group of flow control products specifically built to handle a wide range of extreme, sterile and chemical transportation and storage conditions, with three new offerings within the Garlock butterfly valve line: the STERILE-SEAL, the SAFETY-SEAL and the MOBILE-SEAL.

GAR-SEAL butterfly valves provide critical shut-off duties and manage the flow of acidic, caustic, abrasive or toxic media that could severely damage or be too challenging for other valve systems. STERILE-SEAL butterfly valves are designed for applications where completely sterility is required, such as in the pharmaceutical and food and beverage production industries. The STERILE-SEAL is only available with a PTFE liner, and offers a unique external sterilisation option: 'dead' areas of the valve, along with the disc, body liner and inner seals, can be thoroughly sterilised with steam and allow no possibility of contact with internal media. The SAFETY-SEAL is specifically designed to negate charge build up and dissipate static. Finally, the MOBILE-SEAL butterfly valve is intended for tanker vehicles, railway wagons, fluid storage silos and other containers where dangerous media are contained. 

The Garlock butterfly valve line is offered with a wide range of accessories, including standard handles, locking handles, gear operators and air actuators.

GMR's 1370MW project starts generation

The first 685 MW unit of GMR Chhattisgarh Energy's 1,370 MW supercritical coal-based thermal power plant at Raikheda in the state has commenced electricity generation.

"The first unit achieved synchronisation with the grid. on October 2, last week," GMR said in a statement.

The unit used fuel oil to achieve this first synchronisation. The project has been implemented on multiple packages concept by Doosan of Korea. Work on the second unit of 685 MW is in progress, the statement added.

Since 2013, the GMR Group has commissioned two coal-based thermal power plants - the 2x300 MW EMCO Energy at Warora in Maharashtra and three units of the 4x350 MW GMR Kamalanga Energy at Kamlalanga in Odisha.

The GMR group signed the MoU (Memorandum of Understanding) with the Government of Chhattisgarh for the power plant in 2008 and received environment clearance and consent to establish the same in 2011.

Besides Chhattisgarh, this plant will cater to the power needs of other states in the country.

"The plant incorporates advanced supercritical technologies that optimise fuel and water usage and support our commitment to environmental sustainability," G M Rao, Group Chairman of the GMR Group said.

NMDC and NALCO will set up a thermal power plant in Madhya Pradesh

NMDC and NALCO will set up a thermal power plant in Madhya Pradesh at a cost of Rs 22,000 crore once the issues following the cancellation of coal mines by the Supreme Court are resolved, Steel and Mines Minister Narendra Singh Tomarsaid today.

"Following the Supreme Court order on coal blocks there is uncertainty regarding coal block of NMDC.... Power and Coal Minister Piyush Goyal (who was also present) is saying a way will be found... Then NMDC will invest Rs 3,000 crore and NALCO will invest Rs 19,000 crore in the power plant," he said at the Global Investors Summit here.

Besides, state-owned steel major SAIL is studying the prospect of iron ore availability in Chhatarpur district in the state, he said, adding that if 50 million tonne iron ore is available, the company will set up a pellet plant with an investment of Rs 1,500 crore.

"There is possibility of much more availability of minerals. Once the reserves reach 140 million tonnes, SAIL will invest Rs 12,000 crore to set up an integrated steel plant in Madhya Pradesh," Tomar added.

Other investments in the mineral sector in the state include a Rs 6,000 crore aluminium refinery by NALCO, Rs 2,200 crore for underground mining by Hindustan Copper Ltd and Rs 1,000 crore by MOIL.

Sesa expects Goa iron ore mining to resume by Jan or Feb

Sesa expects Goa iron ore mining to resume by Jan or Feb

No mining has taken place in Goa since Sept 2012 due to action against illegal mining

Sesa Sterlite Ltd said iron ore mining in Goa may resume by January to February, a later-than-expected start that will restrict the India's exports of the steel-making raw material to the lowest level in decades.

Sesa is India's top private iron ore mining company with most of its operations in Goa, the biggest iron ore exporting state where no mining has taken place since September 2012 due to action against illegal mining.

"Based on recent public comments by the government of Goa, it's now probably realistic to assume mining to start by January to February at the earliest," Tom Albanese, chief executive of Vedanta Resources that controls Sesa, told Reuters in an email late on Tuesday.

This indicates a four- to five-month delay versus initial expectations for a restart in September.

Albanese added that India's high export duty amid record low prices for iron ore was an "economic barrier to mining".

India Govt creates 'Japan Plus' to fast track Japanese investments

India Govt creates 'Japan Plus' to fast track Japanese investments

It will be operationalised from Oct 8 and will be managed by four Indian and two Japanese officials

To fast-track investments from Japan into India, the Centre on Thursday announced the establishment of 'Japan Plus', a team to facilitate investments from Japan, as promised during Prime Minister Narendra Modi's visit there last month.

Japan Plus, operationalised on October 8 and managed by four Indian and two Japanese officials, will work as a special management team comprising members from the Department of Industrial Policy & Promotion (DIPP) under the commerce and industry ministry and Japan's Ministry of Economy, Trade and Industry.

During his visit to Japan from August 30 to September 2, Modi was able to garner an investment commitment of $35 billion. He had also vowed to create a channel to obtain investments from Japan without any hurdle.

 "An outcome of the recently concluded visit of the Prime Minister of India to Japan, the mandate of the 'Japan Plus' team runs through the entire spectrum of investment promotion – research, outreach, promotion, facilitation and aftercare," the commerce ministry said in a release.

The team will support the Indian government in initiating, attracting, facilitating, fast-tracking and "handholding" Japanese investments across sectors, the release noted.

"The team will also be responsible for providing updated information on investment opportunities across sectors, in specific projects and in industrial corridors in particular," it added.

According to the release, the team will identify prospective Japanese companies, including small and medium enterprises, and facilitate their investments in India.

The government has also constituted a Core Group chaired by the Cabinet secretary on India-Japan Investment Promotion Partnership. This group will comprise the Railway Board chairman, foreign secretary and secretaries of DIPP, economic affairs, expenditure, financial services, revenue, commerce, urban development, electronics and information technology.

This group will coordinate and closely monitor the process to ensure that investments from Japan, as envisaged in India-Japan Investment Promotion Partnership, are facilitated in various sectors and opportunities of investment and technology transfer are fully exploited.

The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years. This will include ongoing projects such as the Delhi-Mumbai Industrial Corridor or the Chennai-Bangalore Economic Corridor.

Apart from public and private investments, this amount would include Japanese Overseas Development Assistance at a concessional rate.

On Thursday, India and Japan also inked the bilateral advance pricing agreement, which is expected to bring clarity on taxation issues between both authorities.

BHEL bagged EPC contract for setting up a 1,320 MW thermal power project in Tamil Nadu

BHEL has bagged EPC (engineering, procurement & construction) contract worth of Rs 7,800 crore for setting up a 1,320 MW thermal power project in Tamil Nadu.

Valued at around Rs 7,800 crore, the order for setting up a 2x660 MW coal-fired supercritical thermal power project at Ennore SEZ in Tamil Nadu from Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), has been won by BHEL against International Competitive Bidding (ICB), which was open to all qualified domestic and foreign bidders and included debt financing by the bidder, BHEL said in a press release.

BHEL's scope of work in the project includes design, engineering, manufacture, supply, construction, erection, testing & commissioning for the EPC Package comprising 2x660 MW supercritical sets, it added.