Industry news of the polymerindustry - TPE Magazine International

KUWAIT: PIC partnering with Equate to build proposed Olefins III project

Kuwait’s Petrochemical Industries Co. (PIC) is still planning to build its Olefins III complex and will cooperate with Equate to carry out the project, the Kuwait News Agency reported.

Hexpol completes acquisition of Horst Müller Kunststoffe

Hexpol has announced the completion of the acquisition of Müller Kunststoffe. Müller Kunststoffe will be consolidated as of January 2012 and will be a part of business area Hexpol Compounding. The acquisition price adjusted for acquired net debt amounts to 39 million EUR in cash and is funded by a combination of cash and existing bank loans, said Hexpol in a statement issued today.

High operating profit at Lanxess

Although the annual accounts for 2011 are still pending, Dr. Axel C. Heitmann, Chairman of the Board of Management of Lanxess, dared the statement during the company's New Year's reception in Berlin, Germany, in front of representatives from politics, science, industry, and the media, that the operating profit for the past year probably exceeds 20 %.

NPE2012: Extended deadline for International Plastics Design Competition (IPDC)

The SPI Society of the Plastics Industry has extended the deadline for submissions to the 2nd International Plastics Design Competition (IPDC).

UZBEKISTAN: ADB to Help Develop Uzbekistan's Largest Petrochemical Plant

The Asian Development Bank (ADB) has approved a loan and political risk guarantee totaling up to USD 400 million to help build the largest-ever petrochemical plant in Uzbekistan.

INDONESIA: Industry minister inaugurates Indonesia's first butadiene plant

Industry Minister M.S. Hidayat and Trade Minister Gita Wirjawan inaugurated the first ever butadiene plant in Indonesian in Cilegon, Banten, on Wednesday (18 Jan. 2012).

AkzoNobel to take 100 % control of Metlac Group

AkzoNobel plans to strengthen its position in packaging coatings by exercising the right to buy the remaining shares of Metlac, an Italian-based packaging coatings producer. Financial details were not disclosed.

SOUTH KOREA: Korea eyes more petrochemical exports in 2012

Korea's petrochemical companies hope to further increase their exports after they climbed to a record high last year, a local industry group said Friday (13 Jan. 2012).

BASF and Sinopec complete second phase of Nanjing investment and announce new plans for expansion

BASF and Sinopec have inaugurated the USD 1.4 billion second phase of their integrated petrochemical site in Nanjing, bringing chemicals to the Chinese market that will support the development of more sustainable local industries. On the occasion of the inauguration ceremony, the partners also announced further plans for the expansion of the site.

LCY joins IISRP

The International Institute of Synthetic Rubber Producers, Inc. (IISRP) announced that it has elected LCY Chemical Corporation as their newest member.

Api invests in machinery and research

Italian compounder Api announced that it is in the process of making significant investments in production machinery and R&D infrastructure.

Hexpol acquires Müller Kunststoffe for EUR 39 million

Hexpol AB has come to an agreement with the German Rowa Group to acquire Horst Müller Kunststoffe GmbH & Co. KG.

SAUDI ARABIA: Jubail Chevron Phillips Chemical complex set for commercial production

Commercial production at the integrated Saudi Polymers Company (SPCo) petrochemicals complex in Jubail is expected to start in the first quarter of 2012.

KraussMaffei to expand production plants in Slovakia and China

KraussMaffei has decided to expand its production plants in Martin, Slovakia, and in Haiyan, China. At both locations, the production capacities are to be doubled and the performance spectrum extended. For both sites, the start of production is planned for the beginning of 2013.

Completion ceremony for Kurarity production facility at Kuraray’s Niigata plant

On 9 November 2011 Kuraray held a ceremony at the Niigata Plant in Tainai City, Niigata Prefecture, to mark the completion of its new Kurarity production facility. The facility has a capacity of 5,000 t/y.

Special show at K 2013 takes up the theme of mobility

The triennial international trade fair for plastics and rubber, K 2013, will open its doors from 16 – 23 October 2013 in Düsseldorf, Germany. Under the motto “Plastics move the world”, a special show will present numerous aspects of the general theme of mobility.

CHINA: UOP’s Oleflex Technology Selected For New Chinese Propylene Plant

UOP says Zhejiang Shaoxing Sanjin Petrochemical Co. has selected Honeywell’s UOP Oleflex technology for a new propylene plant in China.

CHINA: Sinopec and KPC launch construction on Guangdong refinery, ethylene JV

Construction has started on the refinery and ethylene complex being built as an equally-owned joint venture of Sinopec and Kuwait Petroleum Corp. (KPC) at Zhanjiang, in China’s Guangdong Province.

QATAR: Qatar and Shell sign $6.4bn petrochemical plant deal

Qatar Petroleum is constructing a giant $6.4 billion petrochemicals plant as part of its strategy to expand the downstream hydrocarbons sector. In this regard, Qatar Petroleum yesterday (4 Dec. 2011) signed a heads of agreement with Shell to construct the project, which is expected to be commissioned by 2017.

AkzoNobel to invest EUR 45 million at Ningbo plant

On 18 November 2011, AkzoNobel announced it intends to invest EUR 45 million in a new Dicumyl Peroxide (DCP) plant at its Ningbo multi-site in China. Widely used as crosslinking agent for various polymers and copolymers, DCP can be found in a variety of products like shoe soles, cable insulation, and construction insulation.

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