Thailand's SCG Petrochemicals witness Q4 loss on sliding sales

Thailand's SCG Petrochemicals Co. Ltd., Siam Cement's petrochemical subsidiary posted a net loss of 4.36 bln baht in Q4 - 2008 against a net income of 7.8 bln baht in the previous year mainly due to ddrastic decline in sales and nose-diving commodity prices.

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Hyperion inks a licensing and supply agreements with Japan's Showa Denko K.K.

Leading carbon nanotube production technology provider Hyperion Catalysis International, Inc. (Hyperion), has concluded a patent license agreement and a supply agreement with Japan's Showa Denko K.K. (SDK) in order fortify their leading positions in the production, distribution and marketing of carbon nanotube-based products.

For more details on Hyperion inks a licensing and supply agreements with Japan's Showa Denko K.K. click here

Braskem to resume operations at South Brazil naphtha cracker

Braskem, the leading Brazilian petrochemical company has reportedly decided to shortly resume operations at its Triunfo Complex based 720,000 mtpa naphtha cracker in Rio Grande do Sul (South Brazil).TThe company stalled the cracker last month owing to the sliding international and domestic ethylene demand.

For more details on Braskem to resume operations at South Brazil naphtha cracker click here

BASF's high clarity PESU variant used in producing firefighter's helmet

BASF's high clarity polyether sulfone (PESU) variant, Ultrason® E2010 HC has been employed by The PAB company - a manufacturer of safety equipment headquartered in Buzet, Croatia - for the visor of itts very heat-resistant firefighter's helmet, the FIRE HT 04.

For more details on BASF's high clarity PESU variant used in producing firefighter's helmet click here

Solutia expects to post 12% YOY decline in net sales

Solutia Inc. is expecting to post 2008 adjusted EBITDA from continuing operations within the previously announced full year estimate range of US$385 mln to US$395 mln. For the Q4 - 2008, Solutia expeccts to report net sales from continuing operations of approximately US$430 mln, a decline of approximately 12% over the prior year period, due largely to decreased volumes.

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Clariant post 5% dip in sales, axe 1000 job positions to adjust to downturn

Clariant, a leading specialty chemical company posted a 5% slide in its 2008 full year sales standing at CHF 8.1 bln as against CHF 8.5 bln in 2007. On local currency, sales moved up 1%. The company aannounced to further trim jobs by 1000 personnels, particularly in the Selling, General and Admistrative (SG&A) areas.

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New glass filled Super High Flow resins to benefit electrical/electronic part designers

With an aim to aid electrical/electronic part designers to incorporate more functionality into smaller spaces and reduce system costs, SABIC Innovative Plastics has come up with a complete portfolio oof glass filled Super High Flow Valox* SHF resins offering twice the flow length of standard glass filled polybutylene terephthalate (PBT).

For more details on New glass filled Super High Flow resins to benefit electrical/electronic part designers click here

Teknor Apex offers medical manufacturers a binder with extensive data on 33 elastomer compounds

Teknor Apex Company has recently made available a resource guide in an expandable ring binder with extensive data on each of 33 Medalist™ high-purity elastomer compounds for healthcare applications, aas it will be announced by the company's Thermoplastic Elastomer Division at MD&M West (Booth 2033).

For more details on Teknor Apex offers medical manufacturers a binder with extensive data on 33 elastomer compounds click here

Bayer breaks ground on world's largest carbon nanotubes production plant

Bayer MaterialScience has begun work on the construction of a new 200 tpa carbon nanotubes (CNTs) production facility in Chempark Leverkusen, the largest of its kind in the world. The company is to innvest around EUR 22 mln in the planning, development and construction of the plant, which will create 20 new jobs.

For more details on Bayer breaks ground on world's largest carbon nanotubes production plant click here

DuPont posts Q4 loss due to downturn in key markets, destocking activity

DuPont has posted a net loss of US$629 mln for Q4 - 2008 against net income of US$545 mln in the prior year due to downturn in construction, automobile and consumer spending resulting in inventory desstocking across most supply chains during the period.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 26, 2009

CRUDE OIL
Crude oil prices have risen to hover under US$46/barrel in the week of January 26, 2008. Friday witnessed a 3 dollar surge ahead of the Lunar Neew Year holidays, and also reflected expectations that crude stockpiles will ease as OPEC members strictly implement production cutbacks.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 26, 2009 click here

Goldman Sachs incurs US$850 mln loss on loans extended to LyondellBasell

Goldman Sachs has incurred a loss of about US$850 mln on loans extended to bankrupt units of petrochemicals company LyondellBasell. Yet the December loss, equal to more than 1% of Goldman's book valuee, will not be reflected in Goldman's announced annual results, as the bank has closed its fiscal 2008 books in November.

For more details on Goldman Sachs incurs US$850 mln loss on loans extended to LyondellBasell click here

Total resumes operations at styrene unit at Gonfreville-l'Orcher

Total Petrochemicals has resumed operations as per schedule at the revamped styrene unit at Gonfreville-l'Orcher, France. Total has expanded capacity at the facility by 210,000 tpa, duly completed on budget of €320 mln in one and a half year.

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Crude oil prices dip on oversupply concerns despite OPEC cuts

Crude oil futures for March delivery dipped to US$45.7/barrel on the New York Mercantile Exchange, falling for the first time in four days. Crude oil prices have fallen on concerns of oversupply despiite OPEC production cuts.

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Rohm & Haas Co. files lawsuit against Dow Chemical Co

Rohm & Haas Co. has filed a lawsuit against Dow Chemical Co to force through a US$15 bln merger agreement between the companies. In July, Dow had agreed to buy Rohm and Haas for US$78 a share to expannd its relatively high-margin specialty-chemicals business, agreeing to absorb US$3.

For more details on Rohm & Haas Co. files lawsuit against Dow Chemical Co click here

Kazakhstan invites GAIL and Indian Oil to set up petrochem unit

Energy-rich Kazakhstan has invited GAIL and Indian Oil Corp for talks to set up the mega petrochemical unit. This invitation to hold talks makes Kazakhstan the second country, after gas-rich Qatar, too invite GAIL for talks.

For more details on Kazakhstan invites GAIL and Indian Oil to set up petrochem unit click here

Investment in power infrastructure drives significant growth in NAFTA cables industry

Polymers are an essential component of power and telecommunications cables. Ram Ramachandran of Dow Wire and Cable, David Kiddoo of Alphagary Corporation, Dr Jennifer Rust of Borealis and Andreas Farrkus of ABB will be talking about their experience with medium and high voltage power cables at a conference organised by Applied Market Information: Polymers in Cables 2009 takes place March 31 to April 1 at the Crowne Plaza San Marcos Golf Resort in Phoenix, Arizona.

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Japan's Showa Denko K.K. to produce new grade of carbon nanotube

Showa Denko K.K. (SDK), a part of Japan's Showa Denko Group, has developed a new grade of SDK carbon nanotube with an optimized design for resin composite applications under name VGCFTM-X. The companny will begin construction of a 400tpa VGCFTM-X plant at its Oita Complex in March, 2009 and its start up is expected in 2010.

For more details on Japan's Showa Denko K.K. to produce new grade of carbon nanotube click here

Teknor Apex separates production lines for vinyl medical compounds containing non-phthalate plasticizers

Teknor Apex Company has separated production of medical-grade PVC compounds containing DEHP and other phthalate plasticizers from that of compounds plasticized with non-phthalate alternatives, as the company's Vinyl Division will announce at MD&M West (Booth 2033).

For more details on Teknor Apex separates production lines for vinyl medical compounds containing non-phthalate plasticizers click here

Cereplast receives SPE's 2009 Environmental Award for work on Hybrid Resins®

Cereplast, Inc., a leading manufacturer of proprietary bio-based, sustainable plastics, recently announced that it is the recipient of the 2009 Environmental Award for Emerging Technology in Materialss from the Society of Plastics Engineers (SPE).

For more details on Cereplast receives SPE's 2009 Environmental Award for work on Hybrid Resins® click here

Procap to extend footprint in Europe; acquires two companies

Procap, a European group involved in development, production and marketing of plastic caps and closures have acquired Irish company Mc Farlane Plastics and Luxemburg-based Elocap Lux. Mc Farlane Plasttics, previously owned by Mc Farlane Group produces mainly snap caps and spoons for the baby food industry and other plastic caps & closures for the food and chemical industry with a 2008 turn over of EUR 9 mln.

For more details on Procap to extend footprint in Europe; acquires two companies click here

Dutch collaboration to produce bioplastics from selected organic waste streams

Two Netherlands-based companies including advanced R&D group Avantium and food ingredient producer Royal Cosun have collaborated to develop a specific process for the production of a new generation off bioplastics and biofuels from selected organic waste streams.

For more details on Dutch collaboration to produce bioplastics from selected organic waste streams click here

Oil prices hover around US$46, as steady rise in US crude stocks unaffected by OPEC supply curbs

After the previous sessions dip, oil continued to hover around US$46, on expectation that OPEC's supply curbs have yet to halt a steady rise in US crude oil stocks. Even as OPEC members are implementiing the group's biggest ever 2.

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Chinese plastic food packaging industry experienced challenges in 2008

In China, the food and beverage plastic packaging market has experienced impressive growth over many years. It is mainly due to the replacement of traditional packaging materials, rapid growth in the food industry, and the improvements in polymer properties and processing technology.

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Process to make high performance carbon nanotube 'Inks' with electrical characteristics well-suited for plastic electronics

Scientists at DuPont and Cornell University have used a simple chemical process to convert "as grown" mixtures of metallic and semiconducting carbon nanotubes into solely semiconducting carbon nanotubbes with electrical characteristics well-suited for plastic electronics.

For more details on Process to make high performance carbon nanotube 'Inks' with electrical characteristics well-suited for plastic electronics click here

Dow Chemical unlikely to close Rohm & Haas deal on time

Though the Federal Trade Commission approved the merger on Friday, Dow Chemical seems unlikely to close the US$15.3 bln merger with Rohm & Haas by Tuesday. Rohm & Haas said it "intends to pursue all aavailable alternatives to protect its shareholders' interests", hinting at potential legal action.

For more details on Dow Chemical unlikely to close Rohm & Haas deal on time click here

Petrobras announces a 55% increase in its 5 year investment plan

Brazilian government controlled oil and gas multinational Petrobras has announced a raise in its 5 year investment plan by 55%, not withstanding budget cuts by most key global players amid falling priices and deteriorating demand.

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Petrochemical prices likely to plunge in Saudi Arabia in 2009

The current plunge in petrochemical prices is expected to continue through this year, make a marginal rebound next year, and fully recover by 2011 in Saudi Arabia. It is estimated that the industry wiill regain its position after passing over the current turbulent period in 2011, as discussed in "Future of Saudi Petrochemicals in the Wake of the Global Financial Crisis".

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Dow to divest acrylics and other industrial chemical assets as per Commission Order pre Rohm & Haas acquisition

According to the FTC's Bureau of Competition, Dow and Rohm & Haas are direct and significant competitors in certain markets. Dow's proposed acquisition of Rohm & Haas would reduce competition in the NNorth American markets for the research, development, manufacture, and sale of certain acrylic monomers - including glacial acrylic acid, butyl acrylate, and ethyl acrylate - as well as hollow sphere particles and acrylic latex polymers for traffic paint used to mark lines on streets and highways.

For more details on Dow to divest acrylics and other industrial chemical assets as per Commission Order pre Rohm & Haas acquisition click here

Songwon puts in place a comprehensive distributor network in India

Korea's Songwon Industrial Co. Ltd., together with its newly appointed distributors, Jayvee Organics Private Ltd. and Qualichem Specialties Private Ltd., will welcome visitors from around India and thhe South East Asia region to demonstrate their commitment and extensive coverage of the Indian market at Plastindia (4-9 February 2009).

For more details on Songwon puts in place a comprehensive distributor network in India click here

Dow's proposed acquisition of Rohm and Haas clears last regulatory hurdle

Dow Chemical, an American diversified chemical company and Rohm and Haas, a leading specialty chemicals company jointly announced that Federal Trade Commission (FTC) has voted to accept a consent decrree agreed to by The Dow Chemical Company.

For more details on Dow's proposed acquisition of Rohm and Haas clears last regulatory hurdle click here

Sunoco to permanently shut its Texas PP manufacturing facility

Sunoco, Inc., Philadelphia-headquartered manufacturer of petrochemicals, has announced permanent closure of its 400 mln pounds per annum polypropylene manufacturing facility in Bayport, Texas, by Apriil 30, 2009.

For more details on Sunoco to permanently shut its Texas PP manufacturing facility click here

New innovative cap strip line for the production of jointless bandage

KraussMaffei Berstorff and GfA De Pryck & Co mbH have joined forces and developed an innovative concept for the production of jointless bandages use in tire treads to absorb extremely high forces. Thee jointless bandages are made using a cap strip line which is delivered ready to plug in and composed of a rubber processing extruder with downstream gear pump and a hydraulic crosshead die.

For more details on New innovative cap strip line for the production of jointless bandage click here

Huntsman to lay off 9% of total workforce; shut UK-based TiO2 plant

Huntsman Corporation has announced a company-wide cost reduction initiative across its divisions and functions which comprises of 1175 job cuts - more than 9% of its total 12,770 workforce - by end off the year.

For more details on Huntsman to lay off 9% of total workforce; shut UK-based TiO2 plant click here

Short-time working a possibility at Bayer Material Science's German plants

Bayer MaterialScience, a part of Bayer Group is holding talks with employee representatives to introduce short-time working amid sharp decline in orders and the consequent unsatisfactory capacity utillization.

For more details on Short-time working a possibility at Bayer Material Science's German plants click here

Borealis re-launches Bormed™ LD PE range for healthcare applications

Borealis, a leading provider of innovative, value creating plastics solutions, have re-launch its Bormed™ LD PE range for blow, fill and seal products in response to customers demand for continued avaailability of the high-performance grades.

For more details on Borealis re-launches Bormed™ LD PE range for healthcare applications click here

France's BIC acquires 40% in India's Cello Pens for US$160 mln

With a view to extend its footprint into Rs. 2000 cr Indian stationary items market, BIC - France's stationary products manufacturer - has paid US$160 mln (approx. Rs 800 cr) to acquired 40% stake in India's Cello Pens.

For more details on France's BIC acquires 40% in India's Cello Pens for US$160 mln click here

Dow, Süd-Chemie to jointly make syngas-to-chemicals conversion economically viable

Dow Chemical, America's diversified chemical company and Süd-Chemie, Munich-headquartered specialty chemical company have announced an agreement to research alternative routes to produce chemicals to help reduce dependence on traditional sources of oil and gas by April 2009.

For more details on Dow, Süd-Chemie to jointly make syngas-to-chemicals conversion economically viable click here

Key pipe converters to develop uniform standards for LyondellBasell's new resin used in low-temperature pipe heating installations in China

Pipe converters Wavin Hepworth, Aikang China, George Fischer and Weixing have announced to develop uniform standards for LyondellBasell's recently-launched Akoafloor PB-R 509 polybutene-1, which repreesents a new high-performance class of resin used in underfloor low-temperature pipe heating and cooling systems.

For more details on Key pipe converters to develop uniform standards for LyondellBasell's new resin used in low-temperature pipe heating installations in China click here

Merquinsa bags Frost & Sullivan's Green Excellence Award for its high performance Bio TPUs

Merquinsa, Spanish TPU specialty producer, has bagged the Frost & Sullivan 2008 Global Thermoplastic Urethane (TPU) Product Innovation Green Excellence of the Year Award to recognize its innovation inn biopolymers, with its groundbreaking Bio TPU made from renewable carbon resources and successfully marketed globally under Pearlthane® and Pearlbond® ECO brands.

For more details on Merquinsa bags Frost & Sullivan's Green Excellence Award for its high performance Bio TPUs click here

Low viscous multifunctional isocyanate grade for PU-based adhesives

Huntsman Polyurethanes have developed a new new isocyanate with improved adhesive properties and medium functionality named SUPRASEC® 2330 for use in variety of rubber crumb applications including runnning tracks, playgrounds, sport surfaces and stable matting.

For more details on Low viscous multifunctional isocyanate grade for PU-based adhesives click here

Borealis appoint Sirmax as distributor in Italy for its advanced polyolefins

Borealis, a leading provider of innovative, value creating plastics solutions, has recently appointed major Italian distributor and compounder Sirmax as distributor in Italy for its advanced polyolefiins used in thinwall containers, caps and closures and healthcare packaging.

For more details on Borealis appoint Sirmax as distributor in Italy for its advanced polyolefins click here

Reliance Industries discloses first ever drop in quarterly sales in 6 years

Drastic drops in petroleum product margins have hit quarterly performance at Reliance Industries. RIL has reported a 8.75% drop in net sales for the 3 months to end-December to Rs 31,563 crore; the ffirst decline in sales since the first quarter of 2002-03.

For more details on Reliance Industries discloses first ever drop in quarterly sales in 6 years click here

Texas Petrochemicals idles Plants idled as C4 and butadiene demand falls

Deteriorating demand for performance polymers, butadiene and feedstocks has compelled Texas Petrochemicals to temporarily make plants at Houston and Port Neches temporarily redundant. A large section of contract employees have been laid off.

For more details on Texas Petrochemicals idles Plants idled as C4 and butadiene demand falls click here

Plastics in Underground Pipes

Subterranean pipes are subjected to extensive environmental effects both during and after installation, from the potential for damage during handling to the pressure and abrasion of soil in situ. In addition, the pipe contents may exert both pressure and chemical effects depending on the application.

For more details on Plastics in Underground Pipes click here

Huntsman's Jeffsol® propylene carbonate, Ultrapure® propylene carbonate given VOC exempt status

Huntsman's Performance Products division have announced granting of official VOC exempt status by the Environmental Protection Agency (EPA) for its JEFFSOL® propylene carbonate and ULTRAPURE® propylenne carbonate.

For more details on Huntsman's Jeffsol® propylene carbonate, Ultrapure® propylene carbonate given VOC exempt status click here

Total Petrochemicals start 600,000 mtpa revamped styrene unit in France

Total Petrochemicals have recently started a revamped styrene* unit at its petrochemicals facility in Gonfreville-l'Orcher, near Le Havre, France. With capacity expanded by 210,000 mtpa, the 600,000 mmtpa unit will be one of the largest in Europe, delivering superior performance, especially in terms of energy efficiency.

For more details on Total Petrochemicals start 600,000 mtpa revamped styrene unit in France click here

KraussMaffei reengineers, expands LR range of linear robots for IMM

Plastics processing machinery maker KraussMaffei has reengineered and expanded its LR range of linear robots for injection moulding and is marketing the new range as the LRX series. According to the ccompany, the LRX series linear robots open the way for customized automation solutions with an attractive price/performance ratio.

For more details on KraussMaffei reengineers, expands LR range of linear robots for IMM click here

Brazil's planned refinery awaiting Petrobras-PVDSA settlement on crude supply contract

Abreu e Lima, a jointly planned 200,000 bpd refinery in North Brazil by two oil majors -Brazil's state-owned Petrobras and Venezuela's state-run Petroleos de Venezuela S.A. (PVDSA) - is awaiting a setttlement by both sides on the price of crude supplied by Venezuela, Latin American Herald Tribune reported.

For more details on Brazil's planned refinery awaiting Petrobras-PVDSA settlement on crude supply contract click here

Reliance fetch US$30/ton premium on naphtha parcel amid low supply in China

Reliance has fetched a US$30/ton premium to Middle East quotes on a FOB basis on the 35,000 ton naphtha parcel sold via tender to PetroChina for Jan end lifting. This parcel - the second from its new 580,000 bpd Jamanagar SEZ refinery - has fetched about US$7 - 9/ton higher than its previous cargo.

For more details on Reliance fetch US$30/ton premium on naphtha parcel amid low supply in China click here

Sustained decline in demand make short-time working inevitable at BASF

Global chemical group, BASF has taken to several measures including curbing capacity utilization rates, reducing working hours at several European sites and site closures at North American facilities to combat the sustained decline in demand due to customer destocking.

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New low viscosity, low halogen PPS resin grade unveiled for E/E applications

In direct response to market demand for engineering polymers meeting low halogen requirements in electronics and electrical applications, Ticona Engineering Polymers have recently unveiled the low visscosity grade of Fortron® PPS (polyphenylene sulphide) for use in eco-friendly E/E components.

For more details on New low viscosity, low halogen PPS resin grade unveiled for E/E applications click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 19, 2009

CRUDE OIL
Crude oil prices ended the week of January 19, 2009 on a lower note than last week. Friday saw oil prices rebounding on concerns of OPEC produuction cuts on one hand, and release of data by the International Energy Agency's showing an unexpected sharp decline in global demand forecasts, on the other.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 19, 2009 click here

PLASTINDIA 2009 receiving overwhelming response from Exhibitors

* Space fully booked much before the event through online bookings
* 1,425 exhibitors across the globe to participate in the Event
* 458 Overseas Exhibitors
* Visitors from over 35 countries expeccted

PLASTINDIA 2009, the 7th International Plastics Exhibition & Conference organised by PlastIndia Foundation is receiving overwhelming response from exhibitors all around the world including India.

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Chemtura Corporation realign businesses, establish executive committee

American specialty chemical maker, Chemtura Corporation has recently announced a realignment of its businesses into two groups - Performance Products and Engineered Products - and the establishment off an Executive Committee reporting to the CEO.

For more details on Chemtura Corporation realign businesses, establish executive committee click here

New plant-derived resin radiator tank cuts down on CO2 emission, conserves oil

DENSO Corporation, the Japan-headquartered global supplier of automotive components has developed a plant-derived resin radiator tank using an organic compound derived from castor-oil tree*. The plantt-derived resin, which DENSO jointly developed with DuPont Kabushiki Kaisha, is produced by a chemical reaction between two organic compounds that are derived from castor-oil tree and petroleum.

For more details on New plant-derived resin radiator tank cuts down on CO2 emission, conserves oil click here

US Authorities approve Arkema's Rilsan® PA11 for high pressure natural gas distribution systems

Arkema's Rilsan® PA11-a high performance polymer of 100% renewable non food-crop origin-is the first high performance polyamide to be allowed in the USA for high pressure natural gas distribution pipeelines, in replacement of steel, the company release said.

For more details on US Authorities approve Arkema's Rilsan® PA11 for high pressure natural gas distribution systems click here

ONGC's refining arm to expand refining capacity by Q1 - 2012 to avail tax benefits

ONGC's refining arm, Mangalore Refinery and Petrochemicals (MRPL) has set March 2012 as deadline for increasing its refining capacity from the current 9.7 mln tons to 15 mln tons. The revised project expenditure is slated to be in excess of Rs 12,000 cr and the commissioning of the project will start by Q1 - 2012 to benefit from the seven year tax relief not available for projects going on stream after March 31, 2012, senior people in the management stated.

For more details on ONGC's refining arm to expand refining capacity by Q1 - 2012 to avail tax benefits click here

Oman's Octal initiate operations at Salalah-based 300,000 mtpa PET plant

Octal Petrochemicals, Oman based petrochem maker announced that it has initiated operations at its second PET plant (300,000 mtpa capacity) in the southeast port city of Salalah. The new plant is the largest PET resin plant of its type in the Middle East and the largest clear rigid PET sheet plant in the world.

For more details on Oman's Octal initiate operations at Salalah-based 300,000 mtpa PET plant click here

SABIC posts worse than expected 95.5% fall in Q4 net profits

The global economic meltdown has taken its toll on SABIC's Q4 performance. The Gulf major has posted a worse than expected 95.5% fall in Q4 net profit which it blamed on global woes.
The company madee 311 mln riyals (US$82.

For more details on SABIC posts worse than expected 95.5% fall in Q4 net profits click here

Rohm & Haas to shutter plants and cut 900 jobs

In a bid to cope with deteriorating demand amid global market weakness, Rohm and Haas Co. plans to cut 900 jobs to adjust its operations and cost structure. A Q4, pre-tax restructuring charge of aboutt US$90 mln will be the outcome of this step, and it will deliver a pre-tax run-rate savings of about US$90 million.

For more details on Rohm & Haas to shutter plants and cut 900 jobs click here

Labels offer growth opportunity for plastic films in Europe

The production of film for use in labels is a high margin specialty business which film producers are keen to target. AMI has recently completed the first in-depth study of the market for plastic-baseed labels in Europe, identifying both the size of the market and its future trends, as well as providing a detailed analysis of the structure of the value chain for each label technology.

For more details on Labels offer growth opportunity for plastic films in Europe click here

Cracker run rates to augment in Asia and Europe on recovering demand

This week has witnessed a boost in feedstock and polymer prices in Asia. As downstream demand recovers, key players in Taiwan and South Korea are mulling a hike from reduced levels in run rates. Steamm crackers in Europe have also increased their run rates by about 8-10% on marginal improvement in buying interest, and recovering downstream markets.

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US$70 per barrel is ideal price for oil to sustain investments in fields and avoid shortages

If investments in fields are to be sustained and shortages avoided, it is necessary for oil prices to hover around US$70 a barrel as per Venezuelan Energy and Oil Minister. Oil-exporting nations have been faced with drastic drop in revenue due to a 10% plunge in crude oil values in the past six months.

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Drop in Sinopec Group's ethylene output

A drop to 2006 levels ahs been seen in state-owned Sinopec Group's ethylene production in 2008. The Group cut output to boost fuel supplies ahead of the Olympic Games and curtailed operations on deterriorating chemical demand.

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Bu-Ali Sina Petrochemical Complex exports cross US$500 mln in value

The value of exports from Bu-Ali Sina Petrochemical Complex has crossed US$500 mln in the first ten months of the current Iranian calendar year (started March 20, 2008). The petrochemical complex is llocated in Mahshahr Special Economic Zone.

For more details on Bu-Ali Sina Petrochemical Complex exports cross US$500 mln in value click here

BASF cautions of potential cuts in production and jobs

The world's largest chemical maker BASF has cautioned that the company is being compelled to extend production cuts because of worse-than-expected industry conditions. The German chemical maker is alsso mulling more layoffs as part of a sweeping cost-cutting effort that could extend to Texas.

For more details on BASF cautions of potential cuts in production and jobs click here

With restart of naphtha cracker Braskem to restart ethylene unit at the Triunfo Complex

Braskem is to restart a naphtha cracker that has been shuttered since December on account of deteriorating demand. Dipping global and domestic ethylene demand coerced the company to shut down in Decemmber 2008, 2 naphtha crackers, including the 720,000 tpa Cracker 1 at Triunfo Complex in Rio Grande do Sul in southern Brazil.

For more details on With restart of naphtha cracker Braskem to restart ethylene unit at the Triunfo Complex click here

PBT-based thermoplastic polyester resins used in Toronto Airport's people moving system

Toronto's Lester B. Pearson International Airport have installed an innovative new automated people moving system, Turbo Track, with handrails made with DuPont™ Crastin® PBT - DuPont's thermoplastic ppolyester resins based on polybutylene terephthalate.

For more details on PBT-based thermoplastic polyester resins used in Toronto Airport's people moving system click here

Qatar's massive polyethylene joint venture to start operations by Q3 - 2009

Qatofin Company Limited, a petrochemical joint venture between QAPCO(63%), Total Petrochemicals France (36%) and Qatar Petroleum (1%) to develop the polyethylene product range in Qatar, is expected too start operation in Q3 - 2009, the media reports said.

For more details on Qatar's massive polyethylene joint venture to start operations by Q3 - 2009 click here

BASF India's Mangalore site honoured for safety, achievement

The Mangalore-based manufacturing site of BASF India Ltd has won two awards: the Prashansa Patra from the National Safety Council of India (NSCI) and the Super Achiever Award from the Kanara Chamber of Commerce & Industry (KCCI).

For more details on BASF India's Mangalore site honoured for safety, achievement click here

Huntsman Corporation pre-registers 1937 chemicals with REACH

As required by the European Community REACH legislation (Registration, Evaluation, Authorization and Restriction of Chemicals), Huntsman Corporation has successfully pre-registrated with the European Chemicals Agency ("ECHA"), 1,937 chemical substances that Huntsman manufactures or imports into the European Economic Area.

For more details on Huntsman Corporation pre-registers 1937 chemicals with REACH click here

Asian benzene plants hike run rates on demand recovery

As demand begins to recover in Asia, several benzene plants that have been running at reduced run rates are beginning to hike operations.
Mitsubishi Chemical Corporation (MCC) is mulling restart of tthe BTX plant at Japan's Mizushima upon resumption of feedstock supply from the upstream naphtha steam cracker.

For more details on Asian benzene plants hike run rates on demand recovery click here

WorleyParsons awarded contract to complete preliminary engineering services on first phase of Taweelah project

Australian company, WorleyParsons is to complete preliminary engineering services on a first phase of the US$20 billion (Dh73.47bn) chemical complex at Taweelah.
The Chemaweyaat complex, which is beiing built by a consortium comprising International Petroleum Investment Company (IPIC), the Abu Dhabi Investment Council and the Abu Dhabi National Oil Company (ADNOC), will have a naphtha unit and will produce up to 7 mln tpa of diversified chemicals, including plastics and base chemicals, when it comes online in 2013.

For more details on WorleyParsons awarded contract to complete preliminary engineering services on first phase of Taweelah project click here

Oil prices rebound on OPEC production cuts severely reduced global demand forecasts

Friday saw oil prices rebounding on concerns of OPEC production cuts on one hande, and release of data be the International Energy Agency's showing an unexpected sharp decline n global demand forecastts, on the other.

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US$1,025,000 in penalty and future action to be taken by Shell for water pollution in Puerto Rico

A Shell petrochemical company in Puerto Rico is to pay a US$1,025,000 penalty and spend a minimum of US$273,800 to enhance its pollution controls and monitoring to remedy the Clean Water Act violationns.

For more details on US$1,025,000 in penalty and future action to be taken by Shell for water pollution in Puerto Rico click here

PE prices continue on an uptrend with rising ethylene values

After successful conclusion of deals at US$920/MT CFR China levels, LDPE from South Korea, South East Asia as well as the Middle East, is being heard offered for February about 20-25 dollars higher att around US$940/MT.

For more details on PE prices continue on an uptrend with rising ethylene values click here

Ashland unveils ENVIREZ® resin formulation for pultrusion applications

Ashland Performance Materials, a commercial unit of Ashland Inc. have newly formulated its ENVIREZ® resin technology that can be used for pultrusion applications. ENVIREZ 50380 resin has high reactiviity that supports fast line speeds.

For more details on Ashland unveils ENVIREZ® resin formulation for pultrusion applications click here

New castings resins trim material cost by 10%

AOC, a leading supplier of resins, gel coats, colorants, additives for composites and cast polymers have introduced new Vicast® A830 casting resins for cultured marble manufacturers who want to lower material costs by 10% or more.

For more details on New castings resins trim material cost by 10% click here

Canada's Pétromont to shutter two plants due to North American market downturn

Pétromont, a Canadian petrochem company jointly owned by Dow Chemical Canada and the Société générale de financement du Québec, Quebec's investment arm has announced to permanently shutter its Varennees and Montréal-Nord plants by April 30.

For more details on Canada's Pétromont to shutter two plants due to North American market downturn click here

PolyOne to curtail 370 jobs, idle Ontario facility to alleviate downturn

In order to face the severe decline in demand and tide over the economic downturn, PolyOne Corporation will curtail workforce by 370 jobs worldwide (8% of total workforce), and further reduce work schhedules for another 100 to 300 employees, closing its Niagara, Ontario facility and idling certain other capacity.

For more details on PolyOne to curtail 370 jobs, idle Ontario facility to alleviate downturn click here

RTP starts Ultra Clean Compounding Center for production of clean compounds

RTP Company, global custom engineered thermoplastic compounder has recently established a controlled manufacturing environment spanning 3,300 sq ft dedicated to the production of clean compounds for ssensitive applications in medical, electronic, and other industries at its Winona, Minnesota, headquarters location.

For more details on RTP starts Ultra Clean Compounding Center for production of clean compounds click here

SABIC IP aims to replace metals with engg thermoplastics in water valves

SABIC Innovative Plastics' portfolio of advanced specialty materials, combined with the scientific expertise of its Netherlands-based Fluid Engineering Center of Excellence have led to use of engineerring thermoplastics instead of metals to deal with static or fluctuating pressure, high temperatures and various chemicals in water valves.

For more details on SABIC IP aims to replace metals with engg thermoplastics in water valves click here

CPC slated to take No.4 naphtha cracker on steam by Feb

As ethylene demand recoups after a major decline, Taiwan's government-owned oil refiner, CPC Corp. is all set to start operations at its 350,000 tpa No.4 naphtha cracker after extending its maintenancce shut down period.

For more details on CPC slated to take No.4 naphtha cracker on steam by Feb click here

DuPont Innovation Center Goes Solar

DuPont's renovated Innovation Center at the DuPont Experimental Station in Wilmington, Delaware, in mid-2008, houses a solar energy system which was funded in part by the State of Delaware's Green Eneergy Program.

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QAPCO urges RIL, GAIL to discuss plans for mega petrochem plant

India's Reliance Industries (RIL) and Gas Authority of India Ltd (GAIL) have been called by Qatar Petrochemical Company (QAPCO) to 'discuss the project details' for establishing a large scale petrocheemical plant in Qatar.

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Albemarle sells French facility to International Chemical Investors Group's subsidiary

Albemarle Chemicals SAS, a wholly owned subsidiary of Albemarle Corporation has sold its Port de Bouc-based facility in France to Azur Chimie SAS, a wholly owned affiliate of International Chemical Innvestors Group (ICIG).

For more details on Albemarle sells French facility to International Chemical Investors Group's subsidiary click here

Despite large output cuts by OPEC, crude oil dip on forecast of lower demand

OPEC has trimmed its global demand estimate for 2009 by 20,000 barrels to 85.66 mln bpd, bringing the year's reduction to 180,000 bps, or 0.2%. Reports that consumption of OPEC crude will contract 4.22% to 29.

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Borealis launches business unit dedicated to future development of its automotive business

Borealis, a leading provider of innovative, value creating plastics solutions, is launching a new business unit dedicated to future development of its automotive business. The Business Unit Mobility, which came into being on January 1, will be led by Harald Hammer, previously Chief Executive Officer of Borouge Marketing Company, a Borealis joint venture based in Singapore.

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PolyOne's restructuring and cost savings initiatives to enhance long-term performance

Unexceptional demand deterioration amid a global economic downturn has caused PolyOne Corporation to consider restructuring. The company plans restructuring and cost savings initiatives to enhance thee Company's long-term performance along with alleviating the short term effects of the economic downturn.

For more details on PolyOne's restructuring and cost savings initiatives to enhance long-term performance click here

Permanent closure of 1,4-butanediol, tetrahydrofuran facilities in Ulsan, mulled by BASF

BASF plans to permanently shutter production facility for 1,4-butanediol (BDO) and tetrahydrofuran (THF) in Ulsan, arranging for supplies to customers via its global network. These plants have been teemporarily shut down since August 2008.

For more details on Permanent closure of 1,4-butanediol, tetrahydrofuran facilities in Ulsan, mulled by BASF click here

Equistar plans to restart La Porte olefin unit

Encouraged by signs of improvement in petrochemical demand in Q1-09, Equistar Chemicals (an indirect subsidiary of LyondellBasell) plans to restart by the end of January, its olefins unit in La Porte that was idled in October.

For more details on Equistar plans to restart La Porte olefin unit click here

Crude oil rises for second consecutive day

Crude oil for February delivery rose to US$39.45 a barrel on the New York Mercantile Exchange. As OPEC leaders remarked to increase production cuts announced last month to bolster prices, crude oil roose for the second consecutive day.

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Reliance and GAIL invited for talks on petrochem plant by Qatar

Qatar has invited Reliance Industries and state-run gas utility GAIL India for talks on setting up a US$1.3 bln mega petrochemical plant in the gas-rich nation, in response to their earlier expressed interest in the same.

For more details on Reliance and GAIL invited for talks on petrochem plant by Qatar click here

December ethylene output drops by 24% yoy in Japan

Japan's ethylene output in December fell 24% yoy to 508,200 metric tons, as per the Ministry of Economy, Trade and Industry. The sharp fall was a result of reduction by Japanese petrochemical producerrs in response to weak Asian demand.

For more details on December ethylene output drops by 24% yoy in Japan click here

Petron Corp plans refinery restart by next month

Philippines' largest oil refiner Petron Corp plans to restart its refinery some time in February. The 180,000 bpd refinery has been shut since December for maintenance, initially expected to last for just a month.

For more details on Petron Corp plans refinery restart by next month click here

Samsung Petrochemical, PSE to jointly develop high-performance technologies for PTA production

Leading Korean producer of purified terephthalic acid (PTA) - Samsung Petrochemical Company (SPC) and Process Systems Enterprise (PSE), providers of gPROMS modeling technology and process optimizationn services, have signed an agreement for joint development of new high-performance technologies for PTA production.

For more details on Samsung Petrochemical, PSE to jointly develop high-performance technologies for PTA production click here

Recovering demand paves way for restart of CPC Corp's No. 4 Naphtha cracker

Taiwan's state-owned oil refiner - CPC Corp. plans to restart in the first week of February, its 350,000 tpa No. 4 naphtha cracker in Kaohsiung on recovering ethylene demand. The cracker has been shutt on Oct.

For more details on Recovering demand paves way for restart of CPC Corp's No. 4 Naphtha cracker click here

Leading TiO2 manufacturer Tronox's US operations file Chapter 11

Tronox Incorporated, one of the world's largest manufacturers of titanium dioxide (TiO2) recently announced that it and few subsidiaries have filed voluntary petitions for reorganization under Chapterr 11 of the US Bankruptcy Code due to severely difficult market conditions in the North American region.

For more details on Leading TiO2 manufacturer Tronox's US operations file Chapter 11 click here

Albemarle, OptiFuel Technology ink agreement to commercialize new coker additive technology

Albemarle Corporation, a global developer and manufacturer of innovative catalyst and additive technologies, has inked an agreement with OptiFuel(R) Technology Group, a coker technology development annd licensing company to commercialize a new coker additive technology designed to substantially improve liquid and gas yields.

For more details on Albemarle, OptiFuel Technology ink agreement to commercialize new coker additive technology click here

Coca-Cola, URRC set world's largest plastic bottle-to-bottle recycling plant underway

The Coca-Cola Company, world's largest beverage company and United Resource Recovery Corporation (URRC), a leader in PET recycling have set the world's largest plastic bottle-to-bottle recycling plantt in Spartanburg, South Carolina underway.

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New additive allows all colors to run at same speed without affecting quality, efficiency

Ampacet, a leading manufacturer of masterbatches and additives has unveiled ProBlend™, a process-optimizing, single-setting "color leveling" additive that offers package designers a broader palette off color possibilities by allowing all colors to run at the same speed without adversely affecting shrinkage, quality or efficiency, while also controlling cost.

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Footwear technology leader to use Arkema's Pebax® Rnew in running shoes

Mizuno, a leader in running footwear and apparel technology, has announced the use of a Arkema's Pebax® Rnew, a new thermoplastic elastomer range for the Wave® Technology plates in four models of highh performance running shoes set to debut in 2009.

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Tennis racquets to use Teflon® friction-reducing polymer technology

In order to extend the string life and power of tennis racquets, HEAD has announced to use DuPont™ Teflon® friction-reducing polymer in grommets of its HEAD Pro tennis racquets. In addition, HEAD alsoo signed a licensing agreement with DuPont Fluoropolymer Solutions to market the new racquets using the DuPont™ Teflon® brand to create a unique performance differentiator, starting with their new Pro tennis racquet lines.

For more details on Tennis racquets to use Teflon® friction-reducing polymer technology click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 12, 2009

CRUDE OIL
In the week January 12, 2009, data pointing to weaker economies continued to indicate eroding demand, plunging crude oil prices to US$40/barreel on the New York Mercantile Exchange.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 12, 2009 click here

Truck's direct-metallized rear lamp bezel employs Valox PBT resin

Combining efficiency and style in automotive lighting, SABIC Innovative Plastics' Valox* V2000DM PBT resin was selected by Ford Motor Company and Automotive Components Holding, LLC to design the direcct metallized rear bezel for the 2009 North American Truck of the Year award-winning Ford F-150.

For more details on Truck's direct-metallized rear lamp bezel employs Valox PBT resin click here

Dow announces sale of TPU business to Lubrizol

The Dow Chemical Company has announced the sale of its Thermoplastic Polyurethane (TPU) business including the production plant in La Porte, TX, customer lists, contracts and technology to Ohio-headquuartered specialty chemicals company Lubrizol Corporation.

For more details on Dow announces sale of TPU business to Lubrizol click here

Essar likely to sign 4 MoUs for expansion of refinery and petrochem project

Essar Oil is likely to sign four major MoUs with the state government in Vibrant Gujarat Global Investors' Summit (VGGIS) 09 scheduled to begin on Monday. With proposed investment of Rs.21,000 crore, the MoUs that will be signed include expansion plans of the Vadinar refienery in Jamnagar and petrochemical complex to be set up at Vadinar.

For more details on Essar likely to sign 4 MoUs for expansion of refinery and petrochem project click here

Crude oil dips to US$40 as data points to weakening economies

Data pointing to weaker economies continues to indiacte eroding demand, plunging crude oil prices to US$40/barrel on the New York Mercantile Exchange. Despite the latest OPEC production cut that came into effect on the firs day of the year, crude oil prices have dipped, and so have heating oil prices to US$1.

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China Polypropylene market report for 2007-2008

Global Polypropylene (PP) production capacity reached 46.982 mln tons in 2007, increased by 3 mln tons compared to the year of 2006, with the newly-added production capacity mainly from Middle East ass per a new report by companiesandmarkets.

For more details on China Polypropylene market report for 2007-2008 click here

Punj Lloyd subsidiary commences legal action against SABIC Petrochemicals

Infrastructure company Punj Lloyd's UK subsidiary - Simone Carves Ltd., has commenced legal proceedings against SABIC Petrochemicals for restitution of 28.5 mln Pound Sterling in respect of bonds callled by SABIC.

For more details on Punj Lloyd subsidiary commences legal action against SABIC Petrochemicals click here

DSM inaugurates China Campus in Pudong New Area, Shanghai

Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in the Netherlands, has inaugurated DSM China Campus in the Zhangjiang Hi-Tech Park in Pudong New Area, Shanghai. The Campus will advance local research and development competence and as it is one of the first LEED Gold-certified buildings in China, it will become a symbol of DSM's sustainable development in China.

For more details on DSM inaugurates China Campus in Pudong New Area, Shanghai click here

Borouge to invest in 50,000 ton plant focused on engineering plastics in China

Borouge PTE Ltd. being a leading provider of innovative plastics solution is to invest in a manufacturing plant in Fengxian District of Shanghai, China, despite the current prevailing global financiall crisis.

For more details on Borouge to invest in 50,000 ton plant focused on engineering plastics in China click here

Essar likely to sign 4 MoUs for expansion of refinery and petrochem project

Essar Oil is likely to sign four major MoUs with the state government in Vibrant Gujarat Global Investors' Summit (VGGIS) 09 scheduled to begin on Monday. With proposed investment of Rs.21,000 crore, the MoUs that will be signed include expansion plans of the Vadinar refienery in Jamnagar and petrochemical complex to be set up at Vadinar.

For more details on Essar likely to sign 4 MoUs for expansion of refinery and petrochem project click here

Crude oil dips to US$40 as data points to weakening economies

Data pointing to weaker economies continues to indiacte eroding demand, plunging crude oil prices to US$40/barrel on the New York Mercantile Exchange. Despite the latest OPEC production cut that came into effect on the firs day of the year, crude oil prices have dipped, and so have heating oil prices to US$1.

For more details on Crude oil dips to US$40 as data points to weakening economies click here

China Polypropylene market report for 2007-2008

Global Polypropylene (PP) production capacity reached 46.982 mln tons in 2007, increased by 3 mln tons compared to the year of 2006, with the newly-added production capacity mainly from Middle East ass per a new report by companiesandmarkets.

For more details on China Polypropylene market report for 2007-2008 click here

Punj Lloyd subsidiary commences legal action against SABIC Petrochemicals

Infrastructure company Punj Lloyd's UK subsidiary - Simone Carves Ltd., has commenced legal proceedings against SABIC Petrochemicals for restitution of 28.5 mln Pound Sterling in respect of bonds callled by SABIC.

For more details on Punj Lloyd subsidiary commences legal action against SABIC Petrochemicals click here

Dow Chemical's acquisition of Rohm & Haas cleared by European Commission

Dow Chemical has won permission from the European Commission, the competition watchdog of the 27-nation European countries, to buy specialty chemicals maker Rohm & Haas. The Commission has given the nnod to Dow despite overlaps, particularly in crude acrylic acid and its derivatives and in ion exchange resins since the transaction would not impede competition and that the merging parties were not each other's closest competitors.

For more details on Dow Chemical's acquisition of Rohm & Haas cleared by European Commission click here

SABIC-IP's Valox iQ* resin recreated from waste PET bottles achieves Silver Cradle to Cradle certification

The reconversion of discarded polyethylene terephthalate (PET) plastic bottles into Valox iQ 8280SF resin - made with polybutylene terephthalate (PBT) -based polymers using a proprietary process from SABIC Innovative Plastics- has accomplished a Silver tier Cradle to Cradle certificate from the internationally renowned sustainable design firm, McDonough Braungart Design Chemistry, LLC (MBDC).

For more details on SABIC-IP's Valox iQ* resin recreated from waste PET bottles achieves Silver Cradle to Cradle certification click here

Proposed Rohm and Haas acquisition deal approved by EC; yet to receive U.S. FTC approval

The yet-to-complete US$15.3 bln acquisition of specialty chemical maker Rohm and Haas by American chemical major Dow Chemical Co has been given a green signal by the European Commission (EC). As per aa release posted by Rohm and Haas, EC has determined that the deal does not infringe EC competition law thereby making certain receipt of all mandatory approvals in Europe.

For more details on Proposed Rohm and Haas acquisition deal approved by EC; yet to receive U.S. FTC approval click here

Huntsman to employ merger settlement payments from Apollo Affiliates to curtail debt, up liquidity

The US$1 bln in payments recently received by Huntsman Corporation by affiliates of Apollo Management, L.P. regarding a settlement agreement with Huntsman will be used to reduce the company's indebteddness and to increase liquidity, it announced in a statement.

For more details on Huntsman to employ merger settlement payments from Apollo Affiliates to curtail debt, up liquidity click here

US' Life-Time Poly-Millwork acquires Focal Point

Life-Time Poly-Millwork, a leading US manufacturer of polyurethane architectural products, and its parent company, RAS Industries, have acquired North Carolina-based Focal Point Architectural Productss, Inc.

For more details on US' Life-Time Poly-Millwork acquires Focal Point click here

Official approval granted for green multilayer XPS under foundation slab

The German Institute for Construction Technology (Deutsches Institut für Bautechnik), Berlin has given its official approval to multiple layers of BASF's Styrodur® 3035 CS, Styrodur 4000 CS and Styroddur 5000 CS used under the foundation slab.

For more details on Official approval granted for green multilayer XPS under foundation slab click here

Indonesia's PT Pertamina defer expansion plans on financial gloom, crude price volatility

Owing to the global financial crisis and volatility in crude prices, Indonesia's state-owned PT Pertamina has announced to put on hold expansion projects at two of its major refineries - Cilacap refinnery (Central Java Province) and Balikpapan refinery (East Kalimantan Province), Jakarta Globe reported.

For more details on Indonesia's PT Pertamina defer expansion plans on financial gloom, crude price volatility click here

Sasol's Germistone-based petrochem plant closed down due to explosion

Sasol, South Africa's integrated oil and gas company, discontinued operations at its Germiston-based plant in South Africa as road tankers in the loading bay caught fire leading to an explosion. The ffire has been extinguished as per local media reports and the period of shut down is not known.

For more details on Sasol's Germistone-based petrochem plant closed down due to explosion click here

Nova to cut 400 jobs worldwide

Canada's number one plastics producer, Nova Chemicals Corp. will cut 400 jobs worldwide- 15% of the company's global workforce, including an undisclosed number at its petrochemicals plant in the southhwestern Ontario community of Sarnia.

For more details on Nova to cut 400 jobs worldwide click here

LyondellBasell granted court approval for first US$2.167 bln of proposed DIP financing package

LyondellBasell has been granted court approval for the first US$2.167 bln out of a total US$8 bln proposed debtor-in-possession financing package. Debtor-in-possession (DIP) financing is used to fund continuing operations.

For more details on LyondellBasell granted court approval for first US$2.167 bln of proposed DIP financing package click here

Explosion caused by fire shuts Sasol's S African chemicals plant

South Africa's petrochemicals group Sasol has had to shut down its Germiston plant after a fire caused an explosion. The cause of the fire is unknown as yet, and an investigation is underway. The firee destroyed four tankers and injured one person, at the plant that produces solvents such as butanol, methanol and ethanol.

For more details on Explosion caused by fire shuts Sasol's S African chemicals plant click here

Kuwait ready to counter legal action by Dow to avoid break fee of up to US$2.5 bln

Kuwait seems to be prepared to counter any legal action by Dow Chemical to avoid paying a break fee of up to US$2.5 bln. This situation has arisen because of cancellation of a petrochemicals joint vennture by Kuwait with Dow after parliament voiced opposition, just weeks after signing the deal.

For more details on Kuwait ready to counter legal action by Dow to avoid break fee of up to US$2.5 bln click here

Crude oil prices fall on report that points to demand slowdown on economic weakness

Oil prices have dipped further on release of a report that points to signs of economic weakness signaled a slowdown in demand. US crude for February delivery have dropped to US$41.70. Prices fell by aalmost $6 on Wednesday, when a report revealed larger-than-expected supply buildup.

For more details on Crude oil prices fall on report that points to demand slowdown on economic weakness click here

South Korea's JV with Qatar Petroleum to be delayed by a year

The recent deterioration in demand has compelled South Korea's Honam Petrochemical Corp to delay by one year it's US$2.6 bln joint venture with Qatar Petroleum. The JV will now be completed by early 22013.

For more details on South Korea's JV with Qatar Petroleum to be delayed by a year click here

15 kinds of chemical substances, including 8 polymers in REACH blacklist

15 kinds of chemical substances including eight polymers have found their way into the European Commission's REACH blacklist.
DEHP, DBP & BBP (PVC and other polymer resin production phthalate plastticizers);HBCDD (flame retardants used in polystyrene production); MDA (used in the production of MDI polyurethane manufacturing); SCCPs (rubber, paint, sealants and adhesives production of flame retardants); TBTO (anti-fouling paints for ship production Fungicid).

For more details on 15 kinds of chemical substances, including 8 polymers in REACH blacklist click here

LyondellBasell's US operations file Chapter 11 to restructure debts; non-US entities not to be affected

LyondellBasell Industries, one of the world's largest polymers and petrochemical companies, announced its U.S. operations and one of its European holding companies, Basell Germany Holdings GmbH have vvoluntarily filed to reorganize under Chapter 11 of the U.

For more details on LyondellBasell's US operations file Chapter 11 to restructure debts; non-US entities not to be affected click here

IOC fetches US$18/ton premium for open-spec naphtha amid low Indian exports

India's state-owned Indian Oil Corp (IOC) has fetched a higher than expected premium of US$18/ton to Middle East quotes on FOB basis on 30,000 tons of open-spec naphtha sold for Jan 27-30 lifting fromm Kandla port.

For more details on IOC fetches US$18/ton premium for open-spec naphtha amid low Indian exports click here

PTT Asahi Chemical to start ACN, MMA plant in Map Ta Phut by late 2010

PTT Asahi Chemical Co Ltd - a three-way joint venture between Thailand's PTT Plc (48.5%), Japan's Asahi Kasei Chemicals Corp (48.5%), and Marubeni Corp (3.0%) - has inked agreements to secure US$400 mmln loans for building new petrochemical plant in Hemaraj Eastern Industrial Estate (Map Ta Phut) in Rayong Province, Thailand.

For more details on PTT Asahi Chemical to start ACN, MMA plant in Map Ta Phut by late 2010 click here

Solvay starts 500 tpa PEEK production unit in India

Solvay, Belgium headquartered international chemical company has recently started a 500 tpa world-class production unit in Panoli (Gujarat), India, to deliver KetaSpire® PEEK and AvaSpire® modified PEEEK - two ultra polymers that can give design engineers best-in-class chemical resistance and mechanical properties, plus ease of processing.

For more details on Solvay starts 500 tpa PEEK production unit in India click here

Post-Consumer Recycled plastic tube with a sleeve made from 60% recycled material

Alcan Packaging Beauty-a part of France-headquartered leading global specialty packaging company Alcan Packaging (Rio Tinto group)-has unveiled its latest innovation: an environment-friendly Post-Conssumer Recycled (PCR) plastic tube with a sleeve made from up to 60% recycled material.

For more details on Post-Consumer Recycled plastic tube with a sleeve made from 60% recycled material click here

European extruder and marketer of plastic profiles to cut jobs due to low demand from Central and Eastern Europe

Wymar International NV, a European extruder and marketer of plastic profiles for construction sector and a subsidiary of Belgian international chemical company Tessenderlo Group, has announced to lay off 46 jobs at its Oeselgem plant in Belgium.

For more details on European extruder and marketer of plastic profiles to cut jobs due to low demand from Central and Eastern Europe click here

Inline skates employ DuPont's materials for toughness, low friction

Rollerblade, a pioneer of inline skating has adopted DuPont™ Delrin® acetal resin reinforced with DuPont™ Kevlar® aramid for its newly introduced high-end Point 8 aggressive inline skate's frame. Accoording to DuPont, Delrin® was selected by Rollerblade due to its inherently low-friction surface that makes it ideal for aggressive skating techniques.

For more details on Inline skates employ DuPont's materials for toughness, low friction click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 5, 2009

CRUDE OIL
Crude oil ended the week of January 5, 2009 at a higher note. Light, sweet crude for February delivery rose to US$47 on the New York Mercantile Exchange as tensions mounted when Israel amplified a ground offensive against Hamas militants in Gaza.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of January 5, 2009 click here

Thai IRPC plans maintenance shutdown at refinery and petrochem plants

Thai refiner and petrochemical firm IRPC IRPC plans to shut its refinery and petrochemical plants for maintenance. The shutdown of the 18 plants, including one refinery, during various periods in Febbruary and March is expected to have a limited impact on output.

For more details on Thai IRPC plans maintenance shutdown at refinery and petrochem plants click here

Dow could defer Rohm & Haas acquisition to raise cash to complete the deal

Dow Chemical Co. could miss its deadline to wrap up the US$15 bln takeover of Rohm & Haas scheduled for next week, in an effort to raise enough cash to complete the deal without taking on too much debbt.

For more details on Dow could defer Rohm & Haas acquisition to raise cash to complete the deal click here

Ineos remains committed to expand ethylene output in Norway

While assessing the costs of a gas separation plant needed for a new Scandinavian gas pipeline, British chemicals group Ineos has reconfirmed its commitment to expand ethylene output at Rafnes in Norwway.

For more details on Ineos remains committed to expand ethylene output in Norway click here

LyondellBasell asks US court for permission to pay US$350 mln to foreign creditors

Wilting under pressure of a massive debt load and deteriorating ping demand for its products, the U.S. operations of LyondellBasell, the world´s third-largest petrochemical company, has filed for bankkruptcy protection.

For more details on LyondellBasell asks US court for permission to pay US$350 mln to foreign creditors click here

Americas Styrenics to curtail PS production at its Ohio plant

Americas Styrenics LLC, an equally owned joint venture between Dow Chemical Company and Chevron Phillips Chemical Company LP, will curtail polystyrene production capacity at its Marietta, Ohio, faciliity by approximately 350 mln pounds to counter the demand downturn.

For more details on Americas Styrenics to curtail PS production at its Ohio plant click here

Motorola unveils world's first mobile phone made using recycled water bottle plastics

Mobile communication major Motorola, Inc. announced to debut MOTO™ W233 Renew - the world's first mobile phone made using plastics comprised of recycled water bottles - at the at the 2009 Internationaal Consumer Electronics Show in Las Vegas.

For more details on Motorola unveils world's first mobile phone made using recycled water bottle plastics click here

A. Schulman to distribute Cereplast's bio-based plastics in Europe

North American manufacturer of proprietary bio-based, sustainable plastics, Cereplast, Inc., announced inking of a distribution agreement with A. Schulman, a leading international supplier of high-perrformance plastic compounds and resins.

For more details on A. Schulman to distribute Cereplast's bio-based plastics in Europe click here

Passive house in Germany employs BASF's expandable polystyrene for thermal insulation

The free-standing duplex house-one of the passive houses-located in Weinheim, Germany is charachterised by a load bearing wooden stacked wall and a façade made of BASF's Neopor® (EPS: expandable polyystyrene) which takes care of its thermal insulation.

For more details on Passive house in Germany employs BASF's expandable polystyrene for thermal insulation click here

American Green Group acquires bio-based insulation foam maker - Paradigm Polymers

American Green Group, Inc. (AMNE) announced recently that it's wholly owned subsidiary Eco-Built Systems, LLC has signed a letter of intent to acquire the business operations of Paradigm Polymers, Incc.

For more details on American Green Group acquires bio-based insulation foam maker - Paradigm Polymers click here

LyondellBasell unveils new single-site catalyst to extend capabilities of Metocene PP technology

LyondellBasell Industries has unveiled a new Avant M single-site catalyst system designed to extend the performance capabilities of its Metocene polypropylene (PP) manufacturing technology platform. AAccording to the company, the new single site catalyst family expands the range of homopolymer, random and impact copolymer grades from very low to very high melt flow rates, while maintaining high levels of homogeneity, transparency and other features typical of single-site catalysis.

For more details on LyondellBasell unveils new single-site catalyst to extend capabilities of Metocene PP technology click here

Mitsubishi to restart Mizushima naphtha cracker on Jan 14

Japan's largest petrochemical firm, Mitsubishi Chemical Corp, is to complete repair work and plans to restart a 450,000 tpa naphtha cracker in Mizushima on January 14. The problem occurred when an unuusual odour was detected on December 29 due to which the company had to voluntarily shut down the facility.

For more details on Mitsubishi to restart Mizushima naphtha cracker on Jan 14 click here

Borouge and Agility to set up logistics hub in Shanghai to receive over 6,00,000 tpa of polyolefins

Borouge and Agility Global Integrated Logistics have broken ground to set up new logistics hub in Shanghai that will receive over 6,00,000 tpa of polyolefins (polypropylene and polyethylene). The 70,0000 sq m facility, which will mainly serve the Chinese market, will be completed by 2009 and be fully operational by May 2010, employing around 120 staff from Agility.

For more details on Borouge and Agility to set up logistics hub in Shanghai to receive over 6,00,000 tpa of polyolefins click here

South Korean petrochem makers plan to streamline operations and hive off subsidiaries

South Korea's petrochemical producers are laying impetus on moves to downsize their business operations in a bid to cope with sharply falling demand. Majors, including LG Chem and SK Chemicals are enggaged in an effort to streamline their operations and sell their subsidiaries to create synergy.

For more details on South Korean petrochem makers plan to streamline operations and hive off subsidiaries click here

Downcast downstream demand weakens ABS prices in Asia

Downcast downstream demand has weakened ABS market in Asia amid another plunge in feedstock butadiene prices.
After the fall in butadiene values, key South Korean and Taiwanese producers have reduceed CFR China offers to US$1070/MT, with lows ranging at US$1035.

For more details on Downcast downstream demand weakens ABS prices in Asia click here

Several projects due onstream at Jurong Island face delays

Construction of two mega petrochemical crackers at Singapore's Jurong Island is on track. One is by Shell at an investment of US$3 bln and is scheduled for completion in late 2009/early 2010. The otheer is by ExxonMobil at an investment of over US$5 bln, completion for which is expected by Q1-2011.

For more details on Several projects due onstream at Jurong Island face delays click here

Adding Product Value in Polyolefins

Polyolefin compounding is the key when searching for cost cutting measures or to add value and enhance performance. The marketplace is increasingly unpredictable and industry has to be ready to adaptt to the changing environment using market expertise (Noru Tsalic is one such expert at Applied Market Information).

For more details on Adding Product Value in Polyolefins click here

LyondellBasell locked in talks with creditors

World's third-largest petrochemical maker LyondellBasell, on the brink of bankruptcy, is locked in talks with creditors, two days after a deadline to renegotiate terms of its heavy debt load. LyondelllBasell struggles under a debt burden of US$26 bln, much of which was taken on a year ago in the US$12.

For more details on LyondellBasell locked in talks with creditors click here

Dow to continue with run rate reduction at Freeport through January

As feeble demand for its products continues to persist amid a global economic meltdown, Dow Chemical Co. plans to extend production cuts at its Freeport complex that was reduced last month to less thaan 40% capacity.

For more details on Dow to continue with run rate reduction at Freeport through January click here

China plans tariff reduction on Polystyrene imports from Singapore

China plans to reduce tariff on Polystyrene import from Singapore from 6.5% to 5% in 2009, and to 0% in 2010. Singapore follows Hong Kong, and will become the second Asian economy that enjoys 0 exportt tax to mainland China.

For more details on China plans tariff reduction on Polystyrene imports from Singapore click here

Dow to pursue legal options against Kuwait, seeks new partner

Largest US chemical producer Dow Chemical Co. is mulling pursuit of legal options against Kuwait for canceling a joint venture agreement and plans to seek a new partner to invest in its basic-plasticss business.

For more details on Dow to pursue legal options against Kuwait, seeks new partner click here

Westlake halts production at ethylene plant in Louisiana

Westlake Chemical has rendered inactive, one of its ethylene plants in Lake Charles in the American state of Louisiana, running at reduced rates since Q3-08. A maintenance turnaround scheduled for thiis plant for the first half of 2009 will be brought forward to be performed during this down time.

For more details on Westlake halts production at ethylene plant in Louisiana click here

ENGEL unveils fastest two-platen machine to combine strength with small footprint

ENGEL North America, a world leader in the design and manufacture of injection molding machines and part-handling automation systems, has introduced the innovative new entry in its duo line of machinees - the duo pico.

For more details on ENGEL unveils fastest two-platen machine to combine strength with small footprint click here

China Engineering Plastics Industry Association honours Rohm and Haas additives business

On its 20th anniversary year (2008) entering China market, Rohm and Haas was recently named "Best Business Partner" in the China Plastics Industry by the China Engineering Plastics Industry Associatioon (CEPIA).

For more details on China Engineering Plastics Industry Association honours Rohm and Haas additives business click here

Taiwan's Formosa puts 700,000 tpa cracker off stream due to sluggish demand

Coping with the decline in petrochem demand, Formosa Petrochemical Corp (Taiwan) has put off steam its No.1 naphtha cracker (700,000 tpa) less than a month after it restarted its No.3 cracker (1.2 mlnn tpa) at the same facility.

For more details on Taiwan's Formosa puts 700,000 tpa cracker off stream due to sluggish demand click here

New PC/ABS grade for Laser Direct Structuring of GSM mobile phone antennas

DSM Engineering Plastics has unveiled a new grade of Xantar LDS PC/ABS suitable for Laser Direct Structuring (LDS) applications. Xantar LDS 3710 was developed for antennas in mobile telecom products ssuch as telephones, PDAs and other applications where integrated circuitry is used to replace traditional printed circuit boards.

For more details on New PC/ABS grade for Laser Direct Structuring of GSM mobile phone antennas click here

Azerbaijan's state-owned company to build a 200,000 bpd refinery in Turkey by 2012

SOCAR, the state-owned petroleum company of Azerbaijan recently announced to build a 200,000 bpd oil refinery in Aligaha city of Turkey by 2012, the local media reported. SOCAR- which invested US$2 blln last year in Turkish petrochemicals group Petkim -has aims to up its stake in the Turkey's petrochemicals market to 40% from the current 25%.

For more details on Azerbaijan's state-owned company to build a 200,000 bpd refinery in Turkey by 2012 click here

Constar files for reorganization under Chapter 11 in U.S. Bankruptcy Court

Leading global producer of PET bottles, Constar International Inc and certain of its subsidiaries recently filed for reorganization under Chapter 11 in the U.S. Bankruptcy Court in order to reduce itss outstanding indebtedness by US$175 mln and reduce its annual interest expense by approximately US$19.

For more details on Constar files for reorganization under Chapter 11 in U.S. Bankruptcy Court click here

Sellers offers for HDPE sustained higher on increased ethylene values

January shipment HDPE offers were sustained above US$860/MT CFR China as ethylene prices strengthened. CFR China offers from producers from South Korea rose to US$875/MT and from Taiwan by another 20 dollars.

For more details on Sellers offers for HDPE sustained higher on increased ethylene values click here

Mitsubishi Chem faces problems as 450,000 tpa naphtha cracker, shutters Mizushima unit

Late last month, Japan's largest petrochemical company Mitsubishi Chemical Corp shuttered a 450,000 tpa naphtha cracker in Mizushima, operating at around 90% capacity. The unplanned shutdown was a ressult of some "trouble" at the facility, and could take about 10-20 days to rectify and restart the cracker.

For more details on Mitsubishi Chem faces problems as 450,000 tpa naphtha cracker, shutters Mizushima unit click here

Foster Wheeler awarded EPCM contracts for PO facility in Thailand

Foster Wheeler Ltd. subsidiary Foster Wheeler International Corporation (Thailand branch), has been awarded contracts by MTP HPPO Manufacturing Company Limited, (a subsidiary of Siam Styrene Monomer CCompany Limited) This is a joint venture between The Dow Chemical Company ("Dow") and Siam Cement Group ("SCG"), relating to a new 390,000 tpa propylene oxide (PO) facility at Banchang, near Map Ta Phut in Thailand.

For more details on Foster Wheeler awarded EPCM contracts for PO facility in Thailand click here

Ethylene and propylene prices strengthen in Asia

Ethylene markets of Asia gained strength on restricted supplies and limited buying as most players retreated from the markets on account of Christmas and New Year week. Interestingly, propylene pricess firmed up with strengthening downstream demand from China.

For more details on Ethylene and propylene prices strengthen in Asia click here

Huntsman's US$1 bln out-of-court settlement could help company maintain market viability by product diversification

Huntsman Corporation's recent US$1 bln out-of-court settlement will help the company tide over waning demand from the automotive sector, strengthen its bottom line and maintain healthy level of activiities at its Woodlands research facility.

For more details on Huntsman's US$1 bln out-of-court settlement could help company maintain market viability by product diversification click here

Ineos to hive off Italian VCM and PVC units

Ineos has inked an initial agreement to hive off its Italian vinyl chloride monomer (VCM) and PVC production operations run by Ineos Vinyls Italia, to existing board member Sartor's Safi. Ineos three plants in Porto Marghera, Ravenna and Porto Torres have been shuttered temporarily in a bid to cope with sharply deteriorating demand amid a global economic meltdown.

For more details on Ineos to hive off Italian VCM and PVC units click here

Dow Chemical seems close to completion of acquisition of Rohm & Haas

Dow Chemical Co. seems close to complete the acquisition of Rahm & Haas for US$15.3 bln before Tuesday's opening bell. The US$78/share purchase price increases daily if the deal does not close by thiss Saturday (amounting to an additional US$3 mln/day) - acted as an incentive for Dow to close the deal by the weekend.

For more details on Dow Chemical seems close to completion of acquisition of Rohm & Haas click here

Fears of bankruptcy depresses LyondellBasell's bond value to barely 10% of face value

As the company seems poised on the verge of bankruptcy, LyondellBasell's bonds traded at a value at approximately 10% of face value. Currently, the company is caving under the weight of a US$26 bln deebt and deteriorating product demand, Bonds issued by Lyondell traded at 10-12% of face value, while the Euro denominated Basell bonds were quoted at about 5% of face value.

For more details on Fears of bankruptcy depresses LyondellBasell's bond value to barely 10% of face value click here

Lubrizol acquires Dow's TPU business

In a bid to expand its engineering polymer business, the Lubrizol Corp has acquired the thermoplastic polyurethane (TPU) business from The Dow Chemical Company located in La Porte, TX. This acquisitioon, structured as a sale and purchase of assets was concluded on December 31, 2008.

For more details on Lubrizol acquires Dow's TPU business click here

Oil rises as ground attacks by Israelis in Gaza amplifies tensions in Middle East

Light, sweet crude for February delivery rose to US$47 on the New York Mercantile Exchange on Monday in Asia when tensions mounted as Israel amplified a ground offensive against Hamas militants in Gazza.

For more details on Oil rises as ground attacks by Israelis in Gaza amplifies tensions in Middle East click here

Ciba to produce phenolic antioxidants for lubricants and fuels at its new Singapore site

Ciba recently announced that it will shortly begin producing its phenolic antioxidants for lubricants & fuels in its newly commissioned Singapore facility. This investment, which will enable a faster response to Asian customer needs, is part of the company's strategic plan to support and grow its products for the lubricants and fuels markets in Asia.

For more details on Ciba to produce phenolic antioxidants for lubricants and fuels at its new Singapore site click here

60% of Toyota's vehicle interiors to use 'Ecological Plastics' in 2009

Automobile major Toyota Motor Corporation (TMC) has plans to increase use of plant-derived, carbon-neutral* plastics to 60% of the interior components in more vehicle models, starting with a new hybriid vehicle in 2009.

For more details on 60% of Toyota's vehicle interiors to use 'Ecological Plastics' in 2009 click here

LANXESS AG to defer investment projects due to global economic crisis

Specialty chemicals major LANXESS AG has recently announced postponement of investment projects due to the current global economic crisis to achieve 'financial flexibility' for 2009. According to its revised plans, the new Butyl Rubber facility in Singapore is expected to commence operations in 2012, with groundbreaking - previously scheduled for January 2009 - postponed until the fall.

For more details on LANXESS AG to defer investment projects due to global economic crisis click here

Albemarle sells French facility to International Chemical Investors Group

Specialty chemical maker Albemarle Corporation and International Chemical Investors Group (ICIG) announced that Albemarle Chemicals SAS, a wholly owned affiliate of Albemarle Corporation, has completeed the sale of its facility in Port de Bouc, France to Azur Chimie SAS, a wholly owned affiliate of ICIG, effective December 31, 2008.

For more details on Albemarle sells French facility to International Chemical Investors Group click here

Georgia Gulf to permanently shutter Canadian PVC plant due to construction sector slowdown

North American manufacturer of chlorovinyls and aromatics, Georgia Gulf Corporation has recently announced indefinite closure of its 450 mln pounds pa PVC plant in Sarnia, Ontario (Canada) due to deteerioration of housing and construction markets.

For more details on Georgia Gulf to permanently shutter Canadian PVC plant due to construction sector slowdown click here

Fog impedes ship traffic along Central US Gulf Coast

Fog halted ship traffic along the central US Gulf Coast on Friday, including at port of Houston. The Houston Ship Channel, serving Houston, Galveston and Texas City; Sabine Pass to Beaumont and Port AArthur, Texas; and the channel to Lake Charles, Louisiana, all were affected.

For more details on Fog impedes ship traffic along Central US Gulf Coast click here

US to take advantage of low oil prices, resume filling strategic oil reserves in 2009

The US Energy Department seeks to benefit from low oil prices currently at about half their year-ago levels, and has decided to buy 12 mln barrels of crude oil for the 727 mln barrel Strategic Petroleeum Reserve and fill it in 2009.

For more details on US to take advantage of low oil prices, resume filling strategic oil reserves in 2009 click here

Huntsman Corp receives final US$425 mln in payments from affiliates of Apollo

Huntsman Corp has received the final US$425 mln in payments from affiliates of Apollo Management, L.P. The payments were made pursuant to Huntsman's agreement with Hexion Specialty Chemicals, Inc., Appollo and certain of its affiliates to settle Huntsman's claims against Hexion, Apollo and its affiliates arising in connection with Huntsman's now terminated Merger Agreement with Hexion.

For more details on Huntsman Corp receives final US$425 mln in payments from affiliates of Apollo click here

LyondellBasell's Chocolate Bayou C2-C3 facility shuttered indefinitely

Deficient demand for ethylene and propylene manufactured at LyondellBasell's Chocolate Bayou plant has compelled the company to keep the facility shuttered indefinitely. The move is an attempt to optiimize operations due to low demand, idling plants until demand increases.

For more details on LyondellBasell's Chocolate Bayou C2-C3 facility shuttered indefinitely click here

Japan's Toray to develop CFRP for auto sector in Europe

Japan's Toray Industries, Inc. recently announced an establishment of development and production base for carbon fiber reinforced plastics (CFRP) in Europe in a move aimed at expanding its business inn the automobile sector.

For more details on Japan's Toray to develop CFRP for auto sector in Europe click here

RESINEX appointed distributor for "Dow Wire & Cable" products in Italy, France, Spain and Portugal

RESINEX, leading European plastics distributor has been appointed by Dow, to distribute the "Dow Wire & Cable" portfolio in Italy, France, Spain and Portugal as of January 1st, 2009. This geographic eexpansion now allows RESINEX to serve the entire European Wire & Cable industry with Dow Wire & Cable products.

For more details on RESINEX appointed distributor for "Dow Wire & Cable" products in Italy, France, Spain and Portugal click here

Japan's Idemitsu Kosan to up syndiotactic polystyrene resin capacity

Japan's Idemitsu Kosan Co. has announced to increase production capacity for syndiotactic polystyrene (SPS) resin, which is made using proprietary technology and sold both domestically and abroad undeer the Xarec brand.

For more details on Japan's Idemitsu Kosan to up syndiotactic polystyrene resin capacity click here

Albemarle's announce US$40 mln cost savings for 2009 due to downturn

American company providing solutions in engineered specialty chemicals, Albemarle Corporation had recently announced that its polymer additives business has felt heat due to decline in consumer demandd led by the global economic crisis and market volatility.

For more details on Albemarle's announce US$40 mln cost savings for 2009 due to downturn click here

Markets stunned by Kuwait's cessation of K-Dow JV

Dow released a statement on 28 December that it had been "verbally informed" by its partners at Kuwait Petroleum Corp (KPC) and PIC that the Kuwait Supreme Petroleum Council (SPC) was reversing its prrior approval of the agreement between Dow and PIC to create the 50-50 joint venture.

For more details on Markets stunned by Kuwait's cessation of K-Dow JV click here

Braskem reduces capacity utilization rates

Braskem, the leader in the thermoplastic resins segment in Latin America and the third-largest petrochemical producer in the Americas, has announced that the capacity utilization rates at its Basic Peetrochemicals Unit plants were temporarily reduced to normalize the high inventory levels, in view of the temporary reduction in international demand and the destocking trend in the petrochemical and plastics production chain in Brazil.

For more details on Braskem reduces capacity utilization rates click here

IOC plans expansion of Panipat refinery in 2009

In 2009, Indian Oil Corp (IOC) plans expansion of the Panipat refinery and commission a naphtha cracker complex adjacent to it. The refinery will be expanded by three 3 mln tons to 15 mln tons.

For more details on IOC plans expansion of Panipat refinery in 2009 click here

World's top chemical makers shrouded with uncertain prospects for 2009

World's top chemical makers are shrouded with uncertain prospects for 2009 triggered by persistently deteriorating demand amid a global economic meltdown coupled with frozen credit markets.
Dow, USA''s largest chemical company is currently going through a restructuring plan - closing 20 plants, suspending work at another 180 factories and laying off 5,000 of its 46,500 employees across 175 countries.

For more details on World's top chemical makers shrouded with uncertain prospects for 2009 click here

Oil prices scale down by 8% on first day of 2009

Oil prices dropped on the first day of 2009, after spiking by almost 14% on the last trading day of 2008. Release of weekly US data on the last day of 2008 showed a decrease in refinery activity and aan unexpected 500,000 barrel rise in crude stocks.

For more details on Oil prices scale down by 8% on first day of 2009 click here

Braskem to exit PET business due to non-viability

Braskem, leading thermoplastic resin producer in Latin America announced plans to withdraw from its PET business by deactivating its temporarily suspended PET unit located in Camaçari Petrochemical Coomplex.

For more details on Braskem to exit PET business due to non-viability click here

New packaging film with world's highest level of water vapour barrier properties

Japan's Mitsubishi Plastics, Inc. (MPI) recently launched its new super high gas barrier sheet based packaging film, X-BARRIER in European market. As per the company release, X-BARRIER achieves the woorld's highest level of water vapour barrier properties, with a water vapour transmission rate of 10-4 g/m2/day.

For more details on New packaging film with world's highest level of water vapour barrier properties click here

Huntsman receives final payment from Apollo affiliates

Huntsman Corporation, global manufacturer of differentiated chemicals recently have received the final US$425 mln in payments from affiliates of Apollo Management, L.P., the company statement said. Thhis payment completes the US$1 bln required to be paid to Huntsman under the Settlement Agreement.

For more details on Huntsman receives final payment from Apollo affiliates click here

New medical grade TPEs that bond well to transparent engineering plastics

VTC TPE Group, a global leader in the manufacture of thermoplastic elastomers (TPEs) has unveiled further developments to its growing Mediprene® compound range for medical device applications. The neww Mediprene® A2 series are medical grade TPEs that bond well to transparent engineering plastics like ABS and polycarbonate complementing group's existing medical grade offering, which provides excellent adhesion to polyolefins like polyethylene and polypropylene.

For more details on New medical grade TPEs that bond well to transparent engineering plastics click here

Dow-PIC contract abandonment may hinder Rohm & Haas take-over

Kuwait's abandonment of the massive US$17.4 bln Dow - PIC (Petrochemical Industries Company) joint venture shortly ahead of its proposed Jan 1 start-up might jeopardize Dow's planned acquisition of Roohm & Haas for US$15.

For more details on Dow-PIC contract abandonment may hinder Rohm & Haas take-over click here

CPC receives conditional approval from EPA to revamp third naphtha cracker in Kaohsiung

State-owned Chinese Petroleum Corporation (CPC) has received conditional approval from the Environmental Protection Administration (EPA) to revamp its third naphtha cracker in Kaohsiung County's Linyuuan Township.

For more details on CPC receives conditional approval from EPA to revamp third naphtha cracker in Kaohsiung click here

Lotte Daesan to merge with Honam Petrochemical Corp.

Lotte Daesan is set to merge with Honam Petrochemical Corp. Lotte Daesan owns a 1 mln tpa naphtha cracker, currently operating at 100% run rate, and Honam operates a 750,000 tpa cracker that is currenntly running at around 90% capacity.

For more details on Lotte Daesan to merge with Honam Petrochemical Corp. click here

Braskem to permanently shutdown Camacari PET plant

Brazil's Braskem plans to deactivate and permanently shutdown its 78,000 tpa PET plant in Camacari by the end of 2008. Shutting down the plant and exiting the business would result in an accounting prrovision (with no cash impact) of approximately R$125 million.

For more details on Braskem to permanently shutdown Camacari PET plant click here