Electric vehicles to find more buyers in China and Europe than in the U.S.

(Detroit Free Press) -- Electric vehicles will find more buyers in China and Europe than in the U.S. over the coming decade, mainly because fuel efficiency of conventional gas engines is improving faster and at a lower cost than automakers expected, according to a new study by Boston Consulting Group.

⌠Electric cars will undoubtedly play an increasingly large role in many countries' plans as energy independence and environmental concerns intensify, said Xavier Mosquet, global leader of Boston Consulting Group's automotive practice. ⌠But they will gain only modest ground up to 2020.

The BCG study clashes with a separate study released by the Center for Automotive Research in Ann Arbor that estimates that automakers will spend an additional USD 3.700 to 9.000 per vehicle to achieve government fuel economy standard of between 47 and 62 miles per gallon by 2025.

About 13% of consumers in China say they are willing to pay a premium of USD 4.500 to 6000 for a green vehicle. That compares with 9% of Europeans and just 6% of Americans. BCG expects that electric vehicles (hybrids, plug-ins and battery-only cars) will represent 7% of China's new light vehicle sales in 2020, versus 8% in Europe and 2% of North American new car sales.

MRC

(Lanxess) -- German specialty chemicals company and synthetic rubber pioneer Lanxess has received the Michelin Supplier Award 2010 from Michelin SCA, Clermont-Ferrand, France. With this accolade, awarded by the global tire corporation for the first time this year, the Michelin Executive Committee wants to recognize partners that have helped the company in a special way to achieve its high quality goals, and that are exemplary in meeting Michelin's high standards.

⌠We consider it a great honor to be one of the winners of the first Michelin Supplier Award, said Dr. Joachim Grub, head of the Lanxess Performance Butadiene Rubbers business unit, at the official award ceremony in France on June 15, 2011.

⌠Tire industry experts rightfully view Michelin as one of the major technology leaders in the field. The company stands for innovation and sustainable mobility, Grub continued. ⌠And both of these keywords relate closely to the capabilities of modern, high-performance synthetic rubber, such as neodymium-polybutadiene rubber (Nd-BR). Lanxess is the only supplier to produce this critical rubber raw material in three global regions. Furthermore, Lanxess not only markets the material, it also works to advance it to an even higher level and, more importantly, to tailor it to the specific needs of demanding partners such as Michelin.

Lanxess is a leading specialty chemicals company with sales of EUR 7.1 billion in 2010 and currently around 15,500 employees in 30 countries. The company is at present represented at 46 production sites worldwide. The core business of Lanxess is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.

MRC

(ICIS) -- The US Senate on Thursday voted to end a USD 6 bln (EUR 4.26 bln) annual subsidy for corn ethanol. In a 73-27 vote the Senate approved an amendment that would kill the 45 cent/gal taxpayer subsidy for ethanol blended into the nation's gasolines.

The amendment also would end the 54 cent/gal tariff on US imports of foreign bio-ethanol, which has long protected domestic corn ethanol producers from competition. With the vote, the bipartisan amendment was attached to a larger bill, S-782, the Economic Development Revitalisation Act, a small-business development measure.

That legislation was expected to pass in the Senate, but approval by the US House of Representatives is not certain with the anti-ethanol measure attached.

There is strong support in the House for the ethanol subsidy, which supports ethanol production and corn farms in more than a dozen US Midwestern states.

MRC

(ICIS) -- The European naphtha cargo range fell by USD 29/tonne (EUR 21/tonne) due to lower Brent crude prices on Thursday morning. At 10.00 GMT, the naphtha range was assessed at USD 928-936/tonne CIF (cost, insurance & freight) NWE (northwest Europe), with August Brent crude at USD 113.55/bbl and the July crack spread at minus USD 8.75/bbl.

This compares with a range of USD 957-965/tonne CIF NWE at 3.30 GMT on the afternoon of 15 June, when August Brent was at USD 117.80/bbl and the crack spread at minus USD 9.60/bbl.

The naphtha market has been oversupplied in recent weeks and a fall in prices may lead to expectations of increased demand. However, today's price drop has so far had little effect.

With downstream products priced in euros, the current exchange rate means that the impact of the crude price drop on petrochemical values is not sufficient to instigate demand for naphtha, the source said.

Furthermore, buyers are said to be waiting for July contract prices to be settled for products such as ethylene (C2) and propylene (C3) before purchasing further quantities of naphtha.

MRC

(Plastemart) -- Thermoplastic waste can be recycled and reintroduced into the production stream with Pallmann's PFV Plast-Agglomerator. The equipment is characterized by its relatively low acquisition cost in comparison with other technologies, as well as the low thermal stress it puts on materials, allowing them to maintain as many of their original characteristics as possible. The PFV Plast-Agglomerator can handle waste coming from production of film, fibers, foam, carpets or other mixed materials, from PP, PE, PVC, ABS, and XPS as well as compounded materials.

The agglomerated material is transported pneumatically to a downstream hot melt granulator, creating free-flowing granules with a high bulk density and a minimum of thermal degradation. This valuable raw material can then be reintroduced into the production process or used in other applications, as a filler for example.

New technical characteristics make the Plast-Agglomerator even more attractive than before. Pallmann can now deliver complete systems, premounted on a base frame, including wiring and water hook-up, simplifying installation and decreasing assembly time. Even after assembly, the complete system can be quickly moved and so is easily adaptable to changing production conditions at the customer.

MRC