Mitsubishi Engineering-Plastics awarded by Frost & Sullivan

(Mitsubishi Engineering-Plastics) -- The 2011 Frost & Sullivan European Customer Value Enhancement Award in the Smart E-Meter Market is presented to Mitsubishi Engineering-Plastics (MEP). The company's willingness to partner with its customers to serve this market has been key to its achieving the leading position. At the same time, MEP entered the Smart e-meter market with the clear intention of partnering not only with its immediate customers, but also with participants further along the value chain such as Smart e-meter and energy companies in order to deliver sustainable solutions.


MEP is actively involved at the design stage of the meters, enabling the company to understand exact customer requirements and needs as well as work towards cost optimization with respect to design from the initial stage itself. The reduction in the enclosure wall thickness is one of the key advantages that MEP offers through its integrated working approach, which aims at reducing material consumption, without compromising on other properties such as ductility, hydrolytic stability and fire retardance.


The Frost & Sullivan Award for Customer Value Enhancement is presented to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. This award recognizes the company's inordinate focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.


MRC

Sterling Chemicals acquired by Eastman Chemical Company

(Plastemart) -- Eastman Chemical Company has completed acquisition of Sterling Chemicals, Inc., a single site North American petrochemical producer, for USD100 mln in cash. This acquisition includes Sterling's plasticizer and acetic acid manufacturing assets in Texas City, Texas. Eastman plans to modify and restart the currently idled plasticizer manufacturing facility to produce non-phthalate plasticizers. This additional capacity will enable the company's Performance Chemicals and Intermediates segment to serve the growing market demand for non-phthalate alternatives.


MRC

IOC's Paradip refinery expected to start in Q1-2013

(Plastemart) -- State-owned Indian Oil Corporation's (IOC) Paradip Refinery in Orissa is expected to be completed one year after the pre-decided schedule in Q1-2013. This delay could pose some tax problems for IOC. The seven year income tax holiday for the refining sector ends next year.


Refineries commissioning after March 31, 2012 will not be eligible for exclusion from payment of income tax on revenues earned for first seven years of operations. IOC had previously stated that the refinery will start producing fuel by March 2012 when it will commission the primary units like Crude Distillation Unit. Secondary units will be commissioned by July, 2012, and operations stabilised by November 2012.


Paradip refinery is being planned with production capacity of 5.97 mln tons of diesel, 3.4 mln tons of petrol, 1.45 mln tons of kerosene/ATF, 536 KT of LPG, 124,000 tons of naphtha and 335 KT of sulphur, all of which will be for sale in the domestic market rather than export as it was earlier thought, due to steep rise in fuel demand at home. Some 200 KT of propylene to be produced by the unit may be exported.


MRC

EPS import to Ukraine increased by 36% over the seven months

MOSCOW (MRC) -- Over January-July 2011, the EPS imports to Ukraine increased by 36% year on year, according to MRC DataScope.


Since the year start, trading companies have been increasing EPS import expecting consumption growth in April-May. But the low demand for finished products made of EPS forced suppliers to reconsider their plans. In June - July, the volume of deliveries decreased compared to May figures. In July, the main share (55%) of foreign EPS still fell at Loyal products.


The most popular grades were F-MS and F-SA (Loyal). The supply of those grades in January-July made 4.2 KT and 1.6 KT respectively.


The price reduced by the European producer Dwory for June - July shipment made its products more attractive for Ukrainian buyers. Among Dwory's grades assortment the leaders are FS0513 and FS0816, while the supply of FS0308 and FS1325 grades have decreased greatly.


A significant increase in Chinese EPS prices in July, amid more stable European products, can change the structure of consumption in the Ukrainian market in the nearest future.


MRC

2.8 million tons of Azerbaijani oil transported via BTC in July

(SOCAR) -- In July 2011, 2 million 856 thousand 326 tons of Azerbaijani oil were transported via the Baku-Tbilisi-Ceyhan main export pipeline. 19 million 867 thousand 408 tons of oil were transported through this pipeline during January-July 2011. The transportation via BTC has made up 163 million 423 thousand 350 tons of Azerbaijani oil since the moment of its operation until August 1, 2011. Besides, 191 thousand 494 tons of Turkmen oil was transported via BTC during July.


MRC