"PVC Innovation Award" launched again in 2010

April 7 (PlastEurope) -- European vinyl manufacturer SolVin (Brussels / Belgium) has launched its "Award for PVC Innovation" for the fourth time. Once again, special prizes will be awarded for Recycling and Industrial Design. Entries can be submitted for innovative products, processes or concepts that have been in the development phase at least since 1 January 2008, or are already on the market. The winners will be presented with their awards during a ceremony at the Plastics Fair "K 2010" (27 October until 3 November 2010) in Dusseldorf / Germany. The prizes are worth a total of EUR 100,000.

The competition is targeted above all at plastics processors, additive suppliers, machine manufacturers, buyers, service providers and end-users. Applications can be submitted until 30 April 2010.

MRC

The fall of Belarusian LDPE import (-63%) appeared to be the most significant. The malfunction in the work of Byelorussian petroleum refineries, caused by changes in Russian oil supply terms, happened at the beginning of the year.

In February a significant reduction of PE supply from Russia was observed. LDPE deficit in Russian market has led to decrease of material import into more than in two times in comparing with January 2010.

Lack of imports from Russia and Belarus was covered by Ukrainian companies by increasing the supplies from Europe. In February LDPE import from Europe improved more than in 1.5 times in comparing with January 2010.

MRC

More information about PE market is presented in company's DataScope reports.

April 6 (Daily Yomiuri Online) -- Idemitsu Kosan Co. and Mitsui Chemical Inc. have agreed to jointly operate their Chiba Prefecture ethylene production facilities.

The alliance of the major refiner and petrochemical firm is aimed at streamlining their production lines to make the pricing of their products competitive with those of foreign competitors. The companies said the joint operation would cut annual production costs by about 3 billion yen. The alliance also will consider uniformly operating the ethylene production facilities with a neighboring Idemitsu oil refining plant, which is expected to generate 10 billion yen in savings.

Idemitsu and Mitsui have set up a 50-50 joint venture, capitalized at 200 million yen, to operate two naphtha crackers with capacity of producing a total of 920,000 tons of ethylene annually.

MRC

March 6 (plastemart) -- Sumeet Industries has commissioned a new project of 100,000 ton continuous polymerisation (PET chips) plant and 6MW gas-based captive power plant at an estimated cost of Rs. 150 crore. Sumeet is a leading Indian manufacturer of polyester chips, polyester filament yarn and polypropylene yarns. With this expansion, the company's POY and FDY total production capacity has increased to 56,500 tpa from 12,000 tpa.

MRC

April 6 (Environmental Expert) -- Sunoco, Inc. said today that it has completed the previously announced sale of the stock of its subsidiary Sunoco Chemicals, Inc., comprised of its polypropylene business, to Braskem S.A., for approximately $350 million.

Speaking on the transaction, Sunoco Chairman and Chief Executive Officer Lynn L. Elsenhans said, ⌠The sale demonstrates our continued progress in realigning our portfolio of assets and provides capital to redeploy for future growth in our core businesses. We are grateful to the talented and dedicated employees who made the business an important part of the company for many years. We wish them well as they join Braskem.

Included in the sale were manufacturing facilities in Marcus Hook, Pennsylvania; La Porte, Texas; and Neal, West Virginia, which have the combined capacity to produce approximately 2.1 billion pounds of polypropylene annually. The sale also included a research and technology center located in Pittsburgh, Pennsylvania.

MRC