U.S. mold suppliers for Toyota's operations to provide the best molds

(Plastics Today) -- Being a supplier to Toyota is a coveted position, and the Japanese car company is dedicated to helping ensure that its U.S. mold suppliers for the company's U.S. manufacturing operations provide the best molds at a globally competitive price.


Toyota Motor Engineering & Manufacturing North America Inc. has a better way to deal with tool and mold suppliers. Recently PlasticsToday was invited to attend a Tooling and Mold Suppliers training seminar that helps these suppliers understand the Toyota way, and what they need to do to be a good supplier to Toyota and its Tier Ones.


Through its Purchasing Tooling Cost Analysis Group (PTCAG), Toyota has determined the cost of molds based on the types of molds and the various components used, in all regions around the world. The purpose of this is to make sure that the company is paying the "right" price for the mold, not necessarily the "cheapest" price or the "highest" price.


Because Toyota has all of the cost benchmarks in place, the company knows what the appropriate price should be for molds coming from various regions of the world. For example, the labor rate Toyota uses for tool builders in the U.S. is USD 60 an hour, which is much higher than for a mold coming from China.


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Italy's SO.F.TER to expand offerings for the automotive industry

(Plastics Today) -- With its acquisition, long in the works, Italy's SO.F.TER grows in size, expands its offerings for the automotive industry, particularly in Germany, and also gains a better position for the supply of fiber reinforced compounds.


PGroup, based in Ferrara, Italy, there compounds polypropylene, PBT and polyamide; it also has a sales office in Stuttgart, Germany. The compounder was under court control after its bankruptcy, and SO.F.TER (Forli, Italy), had "leased" it from April 2010 and was co-managing the business during it bankruptcy. Following court approval, SO.F.TER has formally acquired PGroup.


"The acquisition of PGroup represents a significant step forward in our growth strategy and allows us to rank among the top three independent compounders in Europe in terms of volumes, with 120,000 tons' projected sales for 2011," said Stefano Zocca, managing director of SO.F.TER, in a company release. "The first and most important result of this operation is a remarkable increase of the business with Germany, where the SOF.TER. Group strengthened its presence, particularly in the automotive industry. Moreover, the development of synergies in the production and commercial areas has just started and we expect to achieve important results in the near future."


The new owner does plant to make changes to the Forli and Ferrara plants, so that each site will be responsible for specific product lines; it also plans to optimize its supply chain.


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OPEC members disagreeing on whether to increase production

(Arabian Oil and Gas) -- The OPEC bi-annual meeting in Vienna disintegrated this afternoon with members disagreeing strongly on whether to increase production. The meeting has been billed as openly acrimonious, with Saudi Oil Minister Ali al-Naimi branding it "one of the worst meetings we have ever had".


"Unfortunately we are unable to reach a consensus to reduce or raise production," Organization of the Petroleum Exporting Countries Secretary General Abdullah El-Badri told reporters.


Gulf Arab delegates said Iran, Venezuela and Algeria were among those to refuse to consider an output increase. The UAE and Qatar stood with Saudi, with Mohammed bin Dhaen al-Hamli, the oil minister for the United Arab Emirates, speaking of "tight" supplies before the meeting. He added, "If there is a need for more oil, we will supply more oil."


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SOCAR to invest in a new refinery

(News.Az) -- Azerbaijan's state oil company SOCAR is to invest over USD 6bln in a new refinery and sea port for Turkish petrochemicals company Petkim. SOCAR holds the majority of shares in the Turkish petrochemicals company. The ground-breaking ceremony for the new refinery in Izmir will be held in September or October this year, Petkim representative Serkan Aksuyek told a press conference in Baku. He said that Turkish and Azerbaijani officials, including the Turkish prime minister and Azerbaijani President Ilham Aliyev, were expected to attend the ceremony.


Aksuyek said that SOCAR would spend USD 4.5-5bn on construction of the refinery which will have an annual capacity of 10m tonnes of oil.


SOCAR is planning to invest USD 350m in a sea port in the region and investments in all Petkim's structures will exceed USD 6bn, the representative said. ⌠After this, Petkim will become one of the biggest companies in Turkey and Europe in this sphere.


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WTO members proposed reduction in basic customs duty on plastics

(Plastemart) -- As a part of Non-Agriculture Market Access Negotiations (NAMA), WTO members (which includes India), have agreed to reduce bound tariffs based on a non - linear Swiss Formula. What this in effect means is that India cannot raise the Basic Customs Duty in most plastic items beyond 13.3% (in some items this rate is 15%), under any circumstances. So, import of Plastics into India from any WTO member country will be allowed at a peak rate of Basic Customs duty of 13.3% or lower (The Basic Customs duty in Plastics, currently applicable is anyway below 13.3%, but it cannot be raised beyond this level as per the Agreement).


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