Powder and Bulk Engineering

PBE0620

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6 / June 2020 powderbulk.com PBE UPFRONT INDUSTRY NEWS Japanese metal processor acquires Sandvik Powder Solutions Metal Technology Co. Ltd., a metal processing company headquartered in Tokyo, Japan, has announced a used in the oil and gas industries. The company has a stable global presence and the ability to design and complete products. The acqui- sition is expected to expand Metal Technology's overseas business and improve the company's near-net shape technologies. The com- pany plans to enter the oil and gas industries and develop business in Europe, Japan, and China. ICIS analysts cite data showing extended downturn in global chemical sector The Independent Commodity Intel- ligence Services (ICIS) believes that the global chemical sector should prepare for an extended downturn along with lower-for-longer oil prices, both of which will have big implications for profitability and investments in the uncertainty sur- rounding the 2020 global pandemic. On the topic of demand forecasting, according to Rhian O'Connor, ICIS lead analyst, "It's very possible that Quarter 3 could have negative GDP as well [as Quarter 2], and then the question is how big is the bounce back towards the end of the year?" Also cited by the analyst was an Oxford Economics survey, which showed that more than a third of participants expected three or more quarters of negative global GDP. The survey was conducted in April with 250 economists who update their baseline global economic out- look using the Global Economic Model, a fully integrated economic forecasting framework. The market has seen a big drop in crude oil prices, which will mean that the US petrochemical cost advantage is no longer as import- ant. This will be challenging for US polyethylene producers that ramped up capacity to serve export markets to cracker projects globally. Analysts that deal with crude oil share transfer agreement to acquire all shares of the Sandvik Pow- der Solutions AB, a subsidiary of Sandvik Group. Sandvik Powder Solutions, Surahammar, Sweden, is a powder metallurgy company that designs, manufactures, and sells near-net shape products typically

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