Volvo May Initiate Large-scale Layoffs in China; Balcan Innovations makes $200-million investment in Quebec, U.S. ; TekniPlex Healthcare opens flagship barrier protection systems plant i

International News Digest:

Raw Materials News -Brenntag Specialties and ExxonMobil extend distribution agreement for White Oils in EMEA

Packaging News - Balcan Innovations makes $200-million investment in Quebec, U.S.

Auto News - Volvo May Initiate Large-scale Layoffs in China

Medical News - TekniPlex Healthcare opens flagship barrier protection systems plant in Wisconsin

Macro News - Israel Attacked Area Near Iran's Heavy Water Reactor

Price Information - The central parity rate of the RMB against the US dollar was quoted at 7.1729, up 32 points.


The following are the details of international news:

1.Brenntag Specialties and ExxonMobil extend distribution agreement for White Oils in EMEA
Brenntag announced the extension of the distribution agreement with ExxonMobil on White Oils. After decades of cooperation in Germany, Austria, Switzerland, CEE and the Baltics, the agreement now also includes Iberia, the Netherlands and Israel.
ExxonMobil's white oil products are manufactured in accordance with the European Good Manufacturing Practice (GMP) standards and processed in the clean room at Brenntag's Hamburg site. This ensures high product quality, competitive delivery cycles, and reliable supply security in the Europe, Middle East, and Africa (EMEA) region.

2. FEAD: Ambition must not be compromised

FEAD welcomes the Council’s adoption of a General Approach on the proposed End-of-Life Vehicles Regulation (ELVR), but underlines several problematic clauses that need to be remedied during the Trilogue. While acknowledging the importance of progress in the legislative process, FEAD warns that diluting minimum recycled content targets and timelines undermines the Regulation’s ability to deliver true circularity in the automotive sector.

3. Balcan Innovations makes $200-million investment in Quebec, U.S.

Saint-Léonard, Que.based film and flexible packaging maker Balcan Innovations has completed installation of their new Windmoller & Hoelscher (W&H) printing press in Terrebonne, Que., in what’s being described as the first in a series of major investments in new extrusion, printing, and bag-making machinery for their Wisconsin and Quebec-based facilities.

4. Volvo May Initiate Large-scale Layoffs in China

On the morning of June 19th, GAC learned from multiple sources that Volvo has recently carried out large-scale layoffs across China, with a ratio as high as 50%, affecting multiple positions in engineering research and development and supply chain. The specific list is expected to be announced and all operations completed by the end of this month.
GAC immediately sought verification from Volvo China's official channel. The relevant person in charge responded, "We haven't heard of it yet." However, perhaps this rumor is not groundless; it's just that the scale and scope of the layoffs may be different. It's worth noting that this rumor emerged only three weeks after Volvo globally announced the layoff of 3,000 employees. Looking back to May 26th, this Swedish automaker officially announced a global restructuring plan, involving 1,200 employees in Sweden and 1,800 positions in other regions around the world.

5.TekniPlex Healthcare opens flagship barrier protection systems plant in Wisconsin

Healthcare product maker TekniPlex Healthcare has opened a new 200,000-square-foot facility in Madison, Wis., that will serve as the flagship location for the company’s Barrier Protection Systems business.

First announced in June 2023, the site will strengthen Tekni-Plex’s ability to support medical device and pharmaceutical companies along with their downstream partners, including hospitals, outpatient surgery centres, laboratories and patients, with reliable access to sterile barrier packaging that protects life-saving medical technologies, the company said in a June 12 statement.

6. 27th International Waste Plastics Day set to take place on 24-25 June in Germany

The 27th International Waste Plastics Day is set to take place in Dresden, Germany, on 24 and 25 June. Organised by the German association for secondary raw materials and waste disposal bvse, this year’s congress is to focus on the theme of Plastics Recycling: Out of the Crisis and Into the Future. More than 300 participants are expected to take part.

7. UPM Raflatac business area to be renamed as UPM Adhesive Materials

UPM Raflatac business area and reporting segment will be renamed UPM Adhesive Materials as of June 12, 2025. The new reporting segment name will be in use from the Interim Report Q2 2025 onwards.

Macro Market Information:

【Israel attacks area near Iran's heavy water reactor】

Xinhua News Agency quoted Iran's Mehr News Agency as reporting on the 19th that Israel launched attacks on areas near Iran's Khondab heavy water reactor facility. According to relevant officials, personnel at the facility had been evacuated previously, and there is no radiation risk at the facility. Israel had previously warned of launching attacks on this facility.

【IDC: China's floor cleaning robot market shipment volume grew 21.4% year-on-year in Q1】

The latest report released by the International Data Corporation (IDC) shows that in the first quarter of 2025, China's floor cleaning robot market shipped 1.188 million units, a year-on-year increase of 21.4%, with the shipment growth rate exceeding 20% for two consecutive quarters. Affected by the "national subsidy policy", the trend of deepened concentration among leading manufacturers is more obvious than in the global market, accelerating market reshuffle, and the market share gap between the Top 5 manufacturers is continuously narrowing. While the cost-effectiveness of new products is accelerating upgrading, it brings hidden inventory concerns, and some old models face greater inventory pressure. Since 2025, the technological upgrading directions have focused on bionic robotic arms and AI interaction, but the average shipment unit price has declined, further squeezing manufacturers' profit margins.

【US-Mexico presidents hold phone call, Mexican economy minister to visit US to promote trade consultations】

On the local time of June 18, Mexican President Ximbaum stated that she had a phone conversation with US President Trump. It is reported that during the conversation, Ximbaum proposed to Trump to promote a "comprehensive agreement" to jointly address security, immigration, and trade issues. Ximbaum also revealed that Mexican Economy Minister Ebrard will visit the US to promote trade issue consultations, while focusing on security and immigration issues with the US side.

Price Information:

【RMB to USD Central Parity Rate】

The central parity rate of RMB against USD was set at 7.1729, up 32 pips; the previous trading day's parity was 7.1761, the official closing price was 7.1868, and the night session close was 7.1900.

【Raw Materials USD Market Prices】

• Ethylene Asia: CFR Northeast Asia $820/ton (up $10/ton); CFR Southeast Asia $850/ton.
• Propylene Northeast Asia: FOB South Korea average $720/ton; CFR China average $760/ton.
• North Asia LPG CIF price: Propane $580-582/ton; Butane $550-552/ton.
• South China LPG late July CIF price: Propane $612-622/ton; Butane $554-564/ton.
• Taiwan region LPG CIF price: Propane $580-582/ton; Butane $550-552/ton.

【LLDPE USD Market Prices】

• Film: $915/ton (CFR Huangpu);
• Injection molding: $960/ton (CFR Dongguan).

【HDPE USD Market Prices】

• Film: $900-915/ton (CFR Huangpu, down $10/ton);
• Hollow: $865/ton (CFR Huangpu, up $5/ton).

【LDPE USD Market Prices】

• Film: $1035/ton (CFR Xiamen).

【PP USD Market Prices】

• Homopolymer: $890-970/ton (CFR Huangpu);
• Copolymer: $965-990/ton (CFR Huangpu);
• Film material: $1025-1090/ton (CFR Huangpu);
• Transparent: $1100/ton (CFR Huangpu, up $35/ton);
• Pipes: $1160/ton (CFR Shanghai).