DEG prices in Asia fell to their lowest level in nearly one year

(ICIS) -- Diethylene glycol (DEG) prices in Asia fell to their lowest level in nearly one year, and may continue declining in the weeks ahead, given high inventory at ports amid sluggish demand, industry sources said on Tuesday.


In the week ending 19 August 2011, spot DEG values were assessed at an average of USD 1.170/tonne (EUR 819/tonne) CFR (cost and freight) CMP (China Main Port) - levels last seen on 10 September last year, according to ICIS. DEG's average prices have fallen 12.5% since the start of the year, ICIS data showed.


Demand from downstream unsaturated polyester resins (UPR) and polyurethane (PU) sectors in China is seasonally weak, with most UPR plants running at just half their capacity, industry sources said.


The measures taken by the Chinese government to cool the property sector have also significantly trimmed demand for UPR and PU this year, said a trader.


MRC

US ethylene margins fell slightly in the third week of August

(ICIS) -- US ethylene margins fell slightly in the third week of August, after an increase in feedstock prices outweighed new gains in ethylene spot prices, the ICIS margin report showed on Monday.
Ethylene margins were at 33.36 cents/lb (USD 735/tonne, EUR 514/tonne) for the week ended 19 August, down by 0.7% from a week earlier using ethane as a feedstock. The small drop, which snapped a six-week uptrend in US margins, resulted from gains in ethane prices.


Ethane accounts for around 60% of the feedstocks used for US ethylene production.
US ethylene spot prices inched up in the third week of August, despite continued losses in the upstream energy complex.


Ethylene for August traded at 61.750-62.750 cents/lb, an average 0.3% increase from deals done at 61.000-63.125 cents/lb a week earlier.


MRC

SABIC's Xenoy iQ resin chosen by Ford for safety system

(Sabic) -- Xenoy iQ resin from SABIC's Innovative Plastics strategic business unit - chosen by Ford for the pedestrian safety system of its 2011 C-MAX multipurpose vehicle (MPV) - has helped the automaker earn a five-star rating from the independent safety organization Euro NCAP (European New Car Assessment Program). The inherent physical properties of Xenoy iQ resin make it a highly suitable material for the Ford C-MAX's pedestrian safety system. Overall, use of Xenoy iQ resin in this case demonstrate how SABIC enables both environmental responsibility and exceptional performance.


MRC

Remcon Plastics to expand its capacity

(Plastics Today) -- Custom rotational molder Remcon Plastics Inc. announced new equipment additions to expand its capacity. Remcon recently installed a new Ferry 280 rotational molding machine that increased the company's capacity by 20%. Additionally, 23 employees have been hired, working three shifts to handle manufacturing of new products driven by sales growth.


Remcon specializes in products for the material handling and safety products market segments. The company's products include polyethylene FDA/USDA compliant containers for storage, in-process handling and shipping of food products. Remcon will be showcasing some of its newest products at Pack Expo in Las Vegas, September 26-28.


Equipment at Remcon includes a Ferry RS 400, one of the largest rotational molding machines on the East coast, with 160-inch swing capability and each arm rated for 5000/lb of capacity, including the weight of the mold and the material.


MRC

MGS Manufacturing Group added molding facility in Ireland

(Plastics Today) -- MGS Manufacturing Group opened a new manufacturing location in Leixlip, Ireland. Formally named MGS Mfg. Group, Ltd., the facility is the fifth production molding plant, and the company's first outside of North America. The facility will manufacture products for the computer/electronics market, along with healthcare and consumer products. The facility has just over 45,000 sq-ft of manufacturing space and will house three electric injection molding machines, ranging from 100 to 350 tons.


MGS also plans an on-site tool shop to support production mold preventive maintenance, engineering changes and the inspection of incoming transfer molds. This service will also be offered to area OEMs to provide maintenance repairs of molds they run in-house.


This expansion of the company's global operations will allow MGS to increase productivity to better serve its customers.


MRC