AVK Group takes over insolvent injection moulder

(plasteurope) -- Danish AVK Holding on 26 April acquired the insolvent injection moulder Klindt Plastindustri. As a result of the transaction, AVK has renamed the company AVK Plast and attached the new division to its subsidiary AVK Plastics, according to Henrik Lund-Olesen, managing director of the new AVK Plast. The holding group takes over 35 former Klindt employees.

Before the insolvency, the workforce of Klindt Plastindustri numbered around 50. The injection moulder was first created when the two former companies Micotron (Sonderborg / Denmark) and Ripladan (Ribe / Denmark) merged.

AVK Holding develops, produces, and markets valves, hydrants, and accessories for water and gas supply, sewage treatment, and fire fighting. Netherlands-based AVK Plastics manufactures plastics pallets and street caps and offers custom moulding services.

MRC

(plasteurope) -- A strong turnaround at Bayer MaterialScience fuelled the sales and earnings upswing of the Bayer group in the 2010 first quarter. The decline in business momentum currently being seen at sub-groups HealthCare and CropScience is being offset by the recovery at MaterialScience, ⌠which is progressing faster than expected, retiring CEO Werner Wenning said, addressing his final annual general meeting.

Bayer group figures show an overall 5.3% rise in sales revenue to EUR 8.3 bn, with EBITDA after special items up 11% to EUR 1.8 bn. At BMS, the sales increase of nearly 36% to EUR 2.2 bn was coupled with a positive EBITDA of EUR 287m following a EUR 128m loss in the 2009 quarter. HealthCare saw Q1 sales and EBITDA improve by the same margin, 0.7%, to EUR 3.9 bn and EUR 1.1 bn respectively, while CropScience recorded a sales decline of almost 8% to just under EUR 2 bn and an earnings setback of 30% to EUR 511m.

For MaterialScience, Wenning pointed to a ⌠clear recovery in a stabilising market environment. The positive result in Q1 was due mainly to ⌠considerably higher volumes and the related increase in capacity utilisation, he remarked, noting that the polymers arm saw a sales gain of nearly 10% against last year's fourth quarter. The greatest increase in demand from individual markets came from automotive. The geographical star performer was Asia-Pacific, but volumes ⌠also rose appreciably in Europe and North America, which had been hardest hit by the economic crisis.

Sales of the BMS Polyurethanes business unit surged forward by 31% in the 2010 first quarter to EUR 1.1 bn, with revenue in all product groups, including TDI, MDI and polyether, rising by double-digit percentages. Volumes were also higher on the whole. Price increases in Asia-Pacific could not fully offset declines in Europe and North America. The Polycarbonates unit posted a nearly 54% sales increase to EUR 575m. Both resin and PC sheet / semi-finished products benefited from higher demand in all regions and saw ⌠substantial volume increases. Selling prices moved up across the board, with slight declines in Europe, North America and Asia more than offset by gains in Asia-Pacific.

As the global economic recovery continues, Wenning said MaterialScience expects to see improvement in all of its markets. Consequently, the sub-group is doubling its targeted full-year sales increase, on a currency- and portfolio-adjusted basis, to 20% from the 10% predicted earlier this year - see Plasteurope.com of 01.03.2010. The PC and polyurethanes giant plans to more than double its EBITDA before special items. Despite BMS' role as Bayer's performance driver in Q1, the financial press renewed its speculation that CEO-designate Marijn Dekkers will divest MaterialScience.

MRC

MRC Reference

Bayer is an international chemical and pharmaceutical concern. Founded in 1863.

The share in the Russian market in 2008:
PS - 0.7% (ABS - 7.2%).

Annual sales growth in Russia over the last 5 years:
PS - (-10%).

Polymers processing technologies:
injection molding.

(finanzen.net) -- Kraton Polymers LLC (together with its direct and indirect subsidiaries, "Kraton), a leading global producer of styrenic block copolymers, announces a general price increase in Europe, Africa and the Middle East of Euro 150 /MT for Kraton SIS and SIBS polymers across all markets and end-uses. Subject to the terms of any applicable contracts, these price increases will take effect June 1, 2010.

MRC

(Plasteurope) -- With the installation of a new titanium-magnesium catalyser, Tomskneftekhim has modernised its PP production and simultaneously increased by 20% the capacity of its line to 130,000 t/y. PP quality has improved thanls to the new catalysers, especially with regard to material yellowring and the range of different types available, works manager Sergei Merzlyakov said at a conference held in Tomsk in mid-April. The main target market of the new and improved PP manufactured by this Sibur subsidiary is the automotive sector.

On 28 April, Tomskneftekhim reported that it has started up a new bagging and palletising facility, where the LDPE produced by its existing 230,000 t/y line is bagged for export. In future, the new PP output will be bagged here as well. The company said the first 40-60 bags of LDPE, each weighing 25 kg, were on route to Bulgaria. Some 60% of output was earmarked for export in 2009. The previously unpacked material mostly had gone to customers in Latvia and Lithuania. Since the new facility now allowed to to supply properly packaged materials, Tomskneftekhim hopes to increase its European export destinations.

MRC

MRC Reference

Sibur Holding is the largest Russian petrochemical group.

Shareholders:
Gazprombank (70% minus 1 share);
Gazfond (25% plus 1 share);
5% reserved for option program.

The share in the Russian market in 2008:

polyethylene - 11.1%;

polypropylene - 16% (including PP-random - 11.2%);
ABS - 5.2%;
PVC - 8.1%.

(plastemart) -- Royal Dutch Shell's largest integrated petrochemicals manufacturing hub including a new cracker at the refinery on Bukom Island and other Shell facilities on Jurong Island, has come onstream in Singapore. With this new capacity, Shell will be in a better position to serve the Asian market and also spur a new wave of high-value downstream investments in the chemical industry.

The company has planned a capacity revamp that will enable Shell to operate its Singapore oil refinery at 500,000 bpd. Along with the two new units, the revamped existing ones will widen feedstock choices for its new ethylene cracker.

The cracker has the options to use a range of feedstock other than naphtha like liquefied petroleum gas and heavy liquid hydrocarbon such as hydrowax. A high vacuum unit has been added to provide feedstock to the refinery's hydrocracker that will produce hydrowax for the new ethylene cracker. Shell has also built a new sulphur-recovery unit which allows the refinery to process more sour crude. The project also includes a 750,000 tpa monoethylene glycol (MEG) unit on nearby Jurong island which started up in December 2009.

MRC