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Invista Textiles (UK) Ltd. is in talks with trade unions and employee representatives to cease production at the company’s Wilton site on Teesside. Up to 300 jobs could be lost at the plant. The company produces various chemicals at the site, including HMD, nylon salt, nylon 6,6 polymer, and ADI-Pure adipic acid.

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As a result of significantly reduced order levels for isocyanates over recent months, especially in the construction and the automotive industry, BorsodChem is considering a delay of its TDI investment project at its Hungarian production site at Kazincbarcika. According to the company, the project may be delayed “until the visibility on the future development of the global TDI demand improves”.

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21. January 2009

Coffin leaves Hexion

On 6 January 2009, Hexion announced internally that Sarah R. Coffin, Executive Vice President of the Company and President of the Coatings and Inks Division, will be leaving the Company effective 15 February 2009.

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BASF has expanded its coatings business in ASEAN, with Thailand at the centre, to serve the large coatings market in the region for motorcycles, industrial coatings, and the automotive industry. End of 2008 BASF (Thai) Limited reached an agreement with Eason Paint Plc (Thailand) to become the manufacturing base for BASF customers across ASEAN, including automotive and industrial coatings customers. BASF motorcycle coatings in Thailand will be exclusively produced by Eason Paint.

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AkzoNobel said in a press release from 16 January that it has agreed to divest its non-stick coatings business to privately-owned, US-based company Whitford Worldwide. Financial details have not been disclosed.

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Dow Chemical International Pvt. Ltd. and Royal Castor Products Ltd., Sidhpur, Gujarat have signed a commitment to conduct research in sustainable, bio–based products & solutions using castor oil.

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Recticel has announced that in the past few weeks it has bought back a portion of the subordinated convertible bond loan it issued in July 2007. Given the sharp falls on the international convertible bond markets, the Belgian group decided to buy back EUR 12.1 million of the original EUR 57.5 million subordinated convertible bond loan.

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Swedish Perstorp has appointed Johan Malmqvist as its new Group CFO. He will start during spring 2009 and will replace Claes Gard, who will be leaving Perstorp at his own request after 8 years.

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BASF has announced that it plans to permanently close its production facility for 1,4-butanediol (BDO) and tetrahydrofuran (THF) in Ulsan, which has been temporarily shut down since August 2008.

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A new isocyanate with improved adhesive properties and medium functionality has been developed by Huntsman Polyurethanes. Suprasec 2330 can be used in variety of rubber crumb applications including running tracks, playgrounds, sport surfaces and stable matting.

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