Indorama Ventures to expand PET production in Europe

(Plast Europe) -- Thai chemical giant Indorama Ventures (IVL) board decided on a 220 KTa Brownfield expansion of PET production in Europe. Indorama did not specify which of its five European sites would be affected, adding only that once on stream in 2013, the new line would raise IVL's overall PET capacity in Europe to 1.3m t/y. In response to a query by Plasteurope.com, a company spokesman clarified that this latest expansion is in addition to the plans touted at the end of last year.

Commenting on the plans, group CEO Aloke Lohia said: ⌠Our latest Brownfield expansion is going to be at a highly cost competitive capex as well as operate at the lowest operational cost by being able to leverage on existing infrastructure and close proximity to raw materials.

MRC

(ICIS) -- Dow Chemical plans to build a world-scale ethylene plant on the US Gulf coast for start-up in 2017, the US-based chemicals major said on Thursday. The plant will be part of a plan to integrate Dow's petrochemicals business with feedstock opportunities from the US shale gas in the Marcellus and Eagle Ford shale regions, Dow Chemical said. Dow said it is finalising plans for the ethylene plant for start-up in 2017. Dow is also planning a world-scale on-purpose propylene plant in Texas, for start-up in 2015, it said.

In addition to plans for new ethylene and propylene plants, Dow is preparing to restart its ethylene plant at St Charles, near Hahnville, Louisiana, by the end of 2012.

Dow also plans to improve ethane feedstock flexibility for an ethylene cracker at Plaquemine, Louisiana in 2014, and to increase ethane feedstock for an ethylene cracker in Texas in 2016.

MRC

(ICIS) -- Gulf Cooperation Council (GCC) polypropylene (PP) makers announced their May offers this week at levels similar to, or at USD10-20/tonne (EUR 6.90-13.80/tonne) higher, than those for April shipments. The uptrend is a result of impending turnarounds at PP units which are expected to lower Pakistan's imports, industry sources said on Friday.

⌠Two producers are out of the market because of the upcoming turnarounds, so the market is tighter. We have no choice but to raise offers across the board, a PP maker in the GCC said.

In addition, the persistent strong upstream propylene levels at USD 1.550-1.580/tonne CFR (cost & freight) NE (northeast) Asia were of no consolation to PP makers, as their spread remains below breakeven points.

PP makers in the GCC quoted a wide range of spread of USD 150-200/tonne between propylene and PP to achieve a decent margin, which varies with producers.

MRC

(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