Leak-proof Heat Sealing of Press-Formed Paperboard Trays

Three-dimensional (3D) forming of paperboard and heat sealing of lidding films to trays manufactured by the press forming process are investigated in this thesis. The aim of the work was to investigate and recognize the factors affecting the quality of heat sealing and the leak resistance (tightness) of press-formed, polymer-coated paperboard trays heatsealed with a multi-layer polymer based lidding film. One target was to achieve a solution that can be used in food packaging using modified atmosphere packaging (MAP). The main challenge in acquiring adequate tightness properties for the use of MAP is creases in the sealing area of the paperboard trays which can act as capillary tubes and prevent leak-proof sealing. Several experiments were made to investigate the effect of different factors and process parameters in the forming and sealing processes. Also different methods of analysis, such as microscopic analysis and 3D-profilometry were used to investigate the structure of the creases in the sealing area, and to analyse the surface characteristics of the tray flange of the formed trays to define quality that can be sealed with satisfactory tightness for the use of MAP. The main factors and parameters that had an effect on the result of leak-proof sealing and must be adjusted accordingly were the tray geometry and dimensions, blank holding force in press forming, surface roughness of the sealing area, the geometry and depth of the creases, and the sealing pressure. The results show that the quality of press-formed, polymer-coated paperboard trays and multi-layer polymer lidding films can be satisfactory for the use of modified atmosphere packaging in food solutions. Suitable tools, materials, and process parameters have to be selected and used during the tray manufacturing process and lid sealing process, however. Utilizing these solutions and results makes it possible for a package that is made mostly from renewable and recyclable sources to be a considerable alternative for packages made completely from oil based polymers, and to achieve a greater market share for fibre-based solutions in food packaging using MAP.

Pricing of Liquidity Risks in London Stock Exchange

This thesis aims to investigate pricing of liquidity risks in London Stock Exchange. Liquidity Adjusted Capital Asset Pricing Model i.e. LCAPM developed by Acharya and Pedersen (2005) is being applied to test the influence of various liquidity risks on stock returns in London Stock Exchange. The Liquidity Adjusted Capital Asset Pricing model provides a unified framework for the testing of liquidity risks. All the common stocks listed and delisted for the period of 2000 to 2014 are included in the data sample. The study has incorporated three different measures of liquidity – Percent Quoted Spread, Amihud (2002) and Turnover. The reason behind the application of three different liquidity measures is the multi-dimensional nature of liquidity. Firm fixed effects panel regression is applied for the estimation of LCAPM. However, the results are robust according to Fama-Macbeth regressions. The results of the study indicates that liquidity risks in the form of (i) level of liquidity, (ii) commonality in liquidity (iii) flight to liquidity, (iv) depressed wealth effect and market return as well as aggregate liquidity risk are priced at London Stock Exchange. However, the results are sensitive to the choice of liquidity measures.

Failure modes of passive decay heat removing safety systems of modern nuclear power plants

The purpose of this master’s thesis is to gain an understanding of passive safety systems’ role in modern nuclear reactors projects and to research the failure modes of passive decay heat removal safety systems which use phenomenon of natural circulation. Another purpose is to identify the main physical principles and phenomena which are used to establish passive safety tools in nuclear power plants. The work describes passive decay heat removal systems used in AES-2006 project and focuses on the behavior of SPOT PG system. The descriptions of the main large-scale research facilities of the passive safety systems of the AES-2006 power plant are also included. The work contains the calculations of the SPOT PG system, which was modeled with thermal-hydraulic system code TRACE. The dimensions of the calculation model are set according to the dimensions of the real SPOT PG system. In these calculations three parameters are investigated as a function of decay heat power: the pressure of the system, the natural circulation mass flow rate around the closed loop, and the level of liquid in the downcomer. The purpose of the calculations is to test the ability of the SPOT PG system to remove the decay heat from the primary side of the nuclear reactor in case of failure of one, two, or three loops out of four. The calculations show that three loops of the SPOT PG system have adequate capacity to provide the necessary level of safety. In conclusion, the work supports the view that passive systems could be widely spread in modern nuclear projects.