Supreme Petrochem announced the financial results for the quarter

(Plastemart) -- Supreme Petrochem Ltd has announced the Financial Results for the period ended September 30, 2011. The company has reported Net Sales / Income from Operations of Rs.547.38 crores for the quarter ended September 30, 2011 against Rs.456.18 crores for the quarter ended September 30, 2010. The Net Profit was at Rs.15.85 crores for the quarter ended September 30, 2011 vs Rs.18.26 crores a year ago.


MRC

BASF received International German PR Award 2011

(BASF) -- BASF has received the International German PR Award 2011 in the category ⌠Community Communication for its internal online business network connect.BASF. The prize is awarded every year by the German Public Relations Society (DPRG) together with the F.A.Z. Institute and is considered to be the most renowned German communications award.


⌠Over the past year, BASF has increasingly focused on internal Social Media, and we are now very happy to see our efforts being recognized, said Elisabeth Schick, Senior Vice President Corporate Communication & Government Relations BASF Group. ⌠connect.BASF helps BASF employees worldwide to build networks, exchange knowledge and cooperate more efficiently. In this way, the platform contributes to the innovative strength and competitiveness of our company.


BASF also won the European Digital Communications Award announced by the Quadriga University of Applied Sciences in Berlin in the category ⌠Internal Communication in September and in April the German Award for Online Communication of the German PR magazine pressesprecher in the category ⌠Internal Online Communication.

MRC

September imports of PVC-S to Russia dropped by one third

(MRC) -- After record August, imports of suspension PVC to the Russian market in September fell by a third. Over the nine months, total import of the suspension exceeded 390,000 tonnes, according to MRC ScanPlast.


The peak of PVC-S imports fell at August and hit another record - 57,000 tonnes. High imports resulted from active purchases in June - July, when the Russian companies made inventories for August - October. In September, the import volume of the resin expectedly decreased by one third and made 38,700 tonnes.


The biggest part of PVC, delivered to the market last month, had also been contracted in July. Deliveries of acetylene PVC from China were cut to 3,300 tonnes. A month earlier, this figure exceeded 17,000 tonnes.


In August, the excess of PVC in the market made many Russian companies refuse from long-term purchases in China and the U.S. The devaluation of the Russian ruble against the dollar also had a significant impact. As a result, a further decline in imports of PVC is expected in October - November.


October export prices of the American PVC attracted attention of some companies, but the goods will arrive only in December, and November shipment prices are likely to decline. These factors substantially limited purchases of PVC from the United States.


Many Russian companies due to relatively high prices in September - October actually stopped buying resin from China. The Ukrainian producer Karpatneftechem (Group Lukoil) continues to strengthen its position in the Russian market.


In general, over the nine months, imports of PVC-S exceeded 390,000 tonnes, that was by 52% more year on year. Over the three quarters of 2011, Russian producers of the resin managed to produce 394,400 tonnes, which is comparable with the volume of imports.


The author of the news: Sergey Karaichentsev.


MRC

Flint Hills Resources to sell 120,000 tonne/year unit in Peru

(ICIS) -- US expandable polystyrene (EPS) producer Flint Hills Resources is exploring the potential sale of its 120,000 tonne/year unit in Peru, Illinois, a company spokesman confirmed on Tuesday.
"The company is in the early stages of the process and expects to have preliminary discussions with potential buyers in the coming weeks," said Jacob Reint, public affairs director with Flint Hills Resources. Flint Hills Resources, the third largest EPS producer in the US, purchased the Peru facility from Huntsman in 2007.


The company did not say whether it planned to close the facility if it could not find a buyer.
It was unclear who would be interested in buying the facility, particularly with routine complaints from suppliers about slim profit margins for EPS, sources said.


MRC

Asian prices of BDO to drop in the coming weeks

(ICIS) -- Prices of butanediol (BDO) in Asia appear poised for a sharp drop in the coming weeks, as a result of extremely weak demand from the polyurethane (PU) segment, several market sources said on Wednesday. A major Western producer said that its key customers have procured BDO cargoes at $3,150/tonne (┬2,268/tonne) CFR (cost & freight) CMP (China Main Port). This is a decline of $150-250/tonne from prices assessed at $3,300-3,400/tonne CFR CMP on 18 October, according to ICIS data.


BDO is used primarily in the application of PU in the leather industry in China, while PU is used in the production of shoe soles.


Demand from the PU segment is likely to remain weak as the result of shoe-factory closures amid an ongoing regional credit crisis at Wenzhou city in Zhejiang province.


MRC