Zuari Rotem Specialty Fertilizers to search for suitable plots for fertilizer manufacturing plants

(Arabian Oil and Gas) -- ICL, a multinational fertilizer and specialty chemicals company, announced that its joint venture operation in India, Zuari Rotem Specialty Fertilizers, will search for suitable plots for two additional soluble fertilizer manufacturing plants in northern and eastern India.

The initiative follows the success of the joint venture's first plant, the steadily growing demand throughout India for specialty fertilizers, and the Company's desire to capitalize on the economic advantages of manufacturing within its target markets.

ICL's Indian partner, Zuari Industries, is a major Indian producer and distributor of fertilizers and agricultural products.

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(Plastemart) -- The new state government in West Bengal has decided to scrap the proposed petroleum, chemicals and petrochemicals investment region (PCPIR) on Nayachar island in Bengal's East Midnapore district on environmental grounds. The government has decided not to allow a chemical hub in the state because of threat of air and land pollution and a threat to livelihood of fishermen. This week, Bengal will take a call on the proposed ecotourism project, power plant and Polypark at Nayachar, to replace the ecotourism project.

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(PlasticsToday) -- KraussMaffei's doubling of its automation production area to 1570 square meters is currently running ahead of the company's original construction timetable, with interior fittings and the construction of the assembly stations to start in September, and the entire production hall to be completed in October. At this pace, the company says robot fabrication will commence at the beginning of November.

Karlheinz Bourdon, managing director of KraussMaffei Technologies GmbH (Munich) said the expansion was undertaken in response to the growing demand for automated production cells in injection molding. "Our customers are increasingly recognizing the value-added and efficiency potential of effective production cells comprising robots and injection molding machines," Bourdon said.

Construction work on the second production hall in Schwaig only began in the middle of April 2011. KraussMaffei will use the space to create its range of automation systems for injection molding machines, including linear, side entry, and industrial six-axis robots.

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(Reuters) - South Korea's Honam Petrochemical bought 50 KT of naphtha at around USD 2.00 a tonne above Japan quotes on a cost-and-freight (C&F) basis, highest premium paid in the country in 3-1/2 months, traders said on Wednesday.

Honam bought the open-grade naphtha for second-half September arrival a day after YNCC had paid about USD 1.00 a tonne for the same arrival period, reflecting stronger premiums.

"There will be less Indian exports ahead and that boosted premiums. Additionally, Japan domestic naphtha stocks are also down," said a North Asian trader.

India is expected to reduce its September exports to around 850 KT from 1 million tonnes in August.

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(ICIS) -- European chemical company share prices approached their lowest point in 12 months on Friday as fears over the potential for a double-dip recession continued to weigh on stocks across the region.

The Dow Jones Eurostoxx Chemicals index, which tracks the market valuation of Europe's biggest listed chemical companies, hit a low of 542.34 points on Friday morning, having opened at 565.81. It was the first time the index had fallen below 550 points since 31 August 2010.

Shares in German specialty chemical and rubber maker LANXESS were hardest hit among the region's biggest chemical companies, falling by 5.62% to EUR 39.72 (USD 56.74) per share on the German bourse, the DAX. LANXESS shares last traded at under EUR 40 on 14 September 2010.

Another German company, chemical giant BASF, also sustained losses on the DAX, with its shares selling for EUR 48.47, the first time they had traded under EUR 50 since 13 September 2010.


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