Sabic announced financial results for the third quarter of 2011

(Arabian oil and gas) -- Saudi Basic Industries Corporation (SABIC) announced on October 17, 2011 at a press conference held at its headquarters in Riyadh, its financial results for the third quarter of 2011. SABIC achieved US$2.186 billion (8.2 billion Saudi Riyals) in net profit for the 3Q2011. These are another record result in the history of the company, for this quarter ended on 30 September, 2011. The company's nine month profit jumped 52% year on year, reaching $6.39bn compared to $4.29bn during the same period 2010.


During the press conference, Mohamed Al-Mady, SABIC Vice Chairman and CEO, emphasized that SABIC has achieved positive results in the third quarter and maintained its pace of growth based on the reliability of its performance and sound operations. This has been achieved thanks to the efforts of SABIC employees and recent programs that have transformed SABIC into an integrated global company.


Al-Mady also attributed the positive results to increased production and sales, as well as to the reduced cost of funding. He also gave credit to the diversity of SABIC's markets, and its strong presence in global production hubs, especially in the markets of developing economies such as China, India and Saudi Arabia. In these markets, it has maintained its competitive position and continued to succeed and grow.


MRC

Ultradur High Gloss B4570 is one of new engineering resins from BASF

(BASF) -- The new Ultradur High Gloss B4570 is one of the numerous new engineering resins from BASF making their appearance at the trade fair FAKUMA 2011 being held in October in Friedrichshafen, Germany. Compared to existing polybutylene terephthalate (PBT) grades: for headlight bezels, this material offers not only high gloss. It is specifically characterized by its extremely low outgassing at temperatures up to 160╟C over an extended period of time. Like related resins in the Ultradur family, the new material can be metallized without difficulty and is immediately available in Europe and Asia.


When standard PBT grades that outgas at high temperatures are used for reflectors or bezels of especially hot headlights, fogging of the lens may result and reduce the light output of the headlight. On the one hand, automobile headlights have now become design elements with complex aesthetic forms. At the same time, the space in which the headlight must fit has become smaller. Both effects can lead to rising temperatures, which cause outgassing of the bezel material. The substances released during outgassing condense on the clear headlight lens and cause fogging. With the new Ultradur High Gloss, hardly any outgassing can be detected even at very high temperatures.


The material expands the PBT product line for headlights from BASF, which to date consisted of Ultradur B4520 for standard applications, Ultradur B4560 with optimized release characteristics and Ultradur S4090 with especially good flow properties and a minimal tendency to warp.

MRC

Dutch AkzoNobel's net income is forecast to drop by 13.9% year on year

(ICIS) -- Dutch chemicals major AkzoNobel's net income is forecast to drop by 13.9% year on year to ┬649m ($889m) in 2011, as earnings from its core segments come under pressure from higher raw material costs and deteriorating global economic conditions, Bernstein Research said on Tuesday.
AkzoNobel is expected to lower its 2011 guidance for its earnings before interest, tax, depreciation and amortisation (EBITDA) by about 5-10% on a year-on-year basis when it announces its third quarter results on 20 October, the research firm said in a report. The company posted an EBITDA of ┬1.96bn in 2010, according to the report.


AkzoNobel said earlier in July that its 2011 EBITDA is expected to be at least in line with the year before, assuming that economic conditions do not deteriorate further.


While Bernstein has maintained its ⌠outperform rating on AkzoNobel, it has lowered its earnings per share (EPS) to ┬3.26 in 2011, from ┬3.71 in 2010. The company's EPS is forecast by Bernstein to rise to ┬3.76 in 2012.


Raw material costs increased by 20% in the second quarter of this year, which had a major impact on the company's three business areas: decorative paints, performance coatings and specialty chemicals.
For the decorative paints segment, its EBITDA is expected to fall by 10-15% in 2011 because of strong cost inflation in the third quarter of this year, Bernstein said.


MRC

LyondellBasell developed a new concept to improve service to its PP and PE customers

(LyondellBasell) -- LyondellBasell announced today that it has developed an enhanced logistics concept with its distributors designed to improve service to its polypropylene and polyethylene customers in Europe. The company also plans to close its online polyolefins sales channel Alastian on Nov. 1.


LyondellBasell distributors will serve customers from dedicated warehouses at LyondellBasell's European production sites, reducing logistics complexity and accelerating order turnaround and responsiveness. This new logistics concept already has been realized at LyondellBasell's largest European polymer site in Wesseling, Germany. Other production sites will adopt this approach in 2012.


After the closure of the Alastian online sales channel, customers will be served one of two ways - directly through LyondellBasell's technical service and sales organization or through a distributor for those customers purchasing smaller volumes. All former Alastian customers will now be able to enjoy the benefits of technical service and sales support available directly from LyondellBasell or its distributors.


LyondellBasell's distributors have been selling polypropylene and polyethylene resins and compounds into their local markets for decades, and are regarded as an important element of LyondellBasell's approach to the European market.


MRC

Record increase in film extrusion capacities was fixed in Russia

(MRC) -- In August, the increase in capacities of films production in Russia made 37,300 tonnes per year, which made a record over the last 2 years. The total investment amounted to $14,6 million, according to MRC Monthly DataScope: Equipment. In August, converters invested $48 million. In total, there were 35 complete lines shipped, 28 of them made equipment for PE processing.


In August, the main investments were made in equipment for production of multilayer films (19,100 tonnes per year), and stretch films (8,900 tonnes per year). MRC analysts focus attention that the investments in production of multilayer films over 8 months made $18 million, which was 3 times more year on year.


The major suppliers of the equipment for films production were Kiefel Extrusion, Windmoller & Holscher, SML Maschinengesellschaft, with their production share of about 37,000 tonnes per year from 142,000 tonnes of this year capacity growth.


In August, converters bought 5 lines of Windmoller & Holscher, 3 of which are intended for production of 5-layer film (total capacity - 5,000 tonnes per year for the company Danaflex-Nano), and 2 lines - for the production of 3-layer film (with the capacity of 3,600 tonnes per year for the company Rani Plast Kaluga).


Kiefel Extrusion extrusion line for production of 3-layer film (6,000 tonnes per year) increased the capacity of Kamsky Plant of Polymer Materials. Regent-Stretch imported SML Maschinengesellschaft equipment for stretch film production (capacity - 8,000 tonnes per year). A complete line for 3-layer film production (with capacity of 3,200 tonnes per year) is imported by Sealed Air Limited. About 90% ($13,09 million) of all August investments fell at above mentioned companies.


A detailed analysis of investment by processing technologies, sectors, finished goods, suppliers of equipment and brands of equipment is presented in MRC Monthly DataScope: Equipment.


MRC