AkzoNobel targets to achieve an above-5% increase in revenue

(ICIS) -- AkzoNobel on Thursday reiterated its target to achieve an above-5% increase in revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) this year. Keith Nichols, AkzoNobel's CFO added that the company was on track to increase its revenue to EUR 20 bln (USD 29 bln) within five years, with a view to keeping its margins at a 13-15% range, first announced in September 2010, despite a rise in raw material prices, which are now close to 15% higher than last year.

Speaking at a press conference, Nichols said the targets can be achieved through organic expansion and a continued focus on high-growth markets.

He added that the Dutch speciality chemical producer is still aiming to raise the share of high-growth markets, which include China, India and Brazil, to 50% of total revenue over the next decade, up from the current 40%.

The company hopes to double its revenue in China to USD 3 bln and to quadruple its revenue in India to EUR 1 bln. In Brazil, AkzoNobel is looking to double its revenue to EUR 1.5 bln.

MRC

(Plast Europe) -- Belgian distributor Resinex has spruced up its portfolio by adding additional polyamide (PA) grades produced by Rhodia. A company spokesman told Plasteurope.com that the agreement covers all of Europe with the exception of France, Italy and the Iberian Peninsula.

At the centre of the expanded portfolio are flame-retardant, fuel-resistant and biobased grades. Specifically, the deal includes ⌠Technyl Fire-resistant Products halogen-free flame-retardant PA 6.6 grades earmarked for E&E applications and photovoltaic plants, the ⌠Fuel' In by Technyl family of PA 6 and PA 6.6 grades intended for the blow- or injection moulding of parts that come into contact with fuels, as well as the ⌠Technyl eXten PA 6.10 grades based on renewable feedstocks.

MRC

(LUKOIL) -- Vagit Alekperov, President of Lukoil, and Eduard Khudainatov, President of Rosneft, in the presence of Igor Sechin, Deputy Prime-Minister of the Russian Federation, signed an Agreement on Long-term Cooperation between the two companies, in Moscow.

In view of the efficient and mutually beneficial cooperation on gas transportation from the Vankorskoye field and the Bolshekhetskaya Depression and also the logistics of hydrocarbons supply from the fields of the Nenets Autonomous District and the exploration operations on the shelves of the Caspian Sea and the Sea of Azov, Lukoil and Rosneft are going to look into opportunities of expanding cooperation in areas of exploration, field development and transportation of hydrocarbons from the license areas of the Nenets Autonomous District; geological exploration in the license areas of Rosneft on Russia's shelf and development of fields already discovered; developing the market of home-produced petroleum products, petrochemicals, products of gas processing and oils; etc.

The parties agreed to establish joint working groups in the above areas before May 15, 2011.

MRC

MOSCOW (MRC) -- As a result of limited offer and high level of prices in the external markets imports of suspension PVC to the Ukrainian market reduced by 26% in March, according to MRC DataScope.

In March more than 10 KT of suspension PVC were delivered to the Ukrainian market which was 26% less than February supplies. A considerable reduction of suspension imports fell at North American producers. Overall imports of resin to the Ukrainian market in QI of 2011exceeded 31 KT.

Under the conditions of high dynamics of the growth of export prices for PVC from USA (more than USD 100/mt per month), as well as limited exports offers many Ukrainian companies temporarily suspended purchases of resin in March-April.

Now and till the first half of May the resin from North America contracted in February-March will come to the Ukrainian market. In the second half of next month PVC deliveries from USA may cease.

In May-June reduction of resin imports from Europe is expected because of restrictions from European producers but a serious deficit is not forecasted. Current PVC stocks in the Ukrainian companies may compensate expected reduction of imports in May-June.

MRC

MOSCOW (MRC) -- In March supplies of PET-granulates to Ukraine reduced almost by third and made about 10 KT, according to MRC DataScope.

Most of deliveries were made in February. At the end of Q I overall volume of PET supplies to the Ukrainian market made almost 30 KT.

Because of suspension of PET production last month there were no supplies form Belorussia. Starting from mid-last year Belorussian PET had lost its position in the Ukrainian market.

There were no serious changes in the structure of PET granulates imports. In April a serious growth of imports is expected which is stipulated by a seasonal growth of demand.

MRC