Reliance Industries said to revive plan to build chemical plant

(Bloomberg) -- Billionaire Mukesh Ambani's Reliance Industries Ltd. may start work on a multibillion-dollar chemical plant this year, reviving a project to meet India's surging demand for the raw materials for plastics, drugs and textiles.

Reliance is close to deciding the final configuration of the plant, which will be capable of producing as much as 1.6 million metric tons a year of chemicals such as ethylene and propylene, said a person familiar with the project, who declined to be identified because the information isn't public.

The plant will get its feedstock from gases and other byproducts produced at Reliance's Jamnagar facility, the world's largest oil-refining complex, and will take about four years to build, the person said.

Reliance is restoring a project originally slated to start in 2011 as refiners, including Exxon Mobil Corp., Royal Dutch Shell Plc and Saudi Basic Industries Corp., add petrochemical capacity to meet demand from Asia's fast-growing economies. Cracking margins for ethylene, which fell to about $100 a ton in 2008, recovered to more than $400 in the first quarter.
⌠This will come at a good time. We are oversupplied right now but beyond 2011, there's a sharp drop-off in terms of new capacity, said Sriharsha Pappu, a Dubai-based analyst with HSBC Bank Middle East Ltd. ⌠In the next 3 to 4 years, we could very easily be undersupplied.

Manoj Warrier, a Reliance spokesman, didn't respond to emails and phone calls requesting comment.

MRC

(prw) -- Hartlepool-based electronics manufacturer Stadium Group is negotiating to sell its plastics division in Highams Park, north east London, and complete a focus on its core business which began eight years ago.
Stadium began to concentrate more on electronics with the sale of its main plastics business, also in Hartlepool, to Jeremy Stoke in 2002. The operation made automotive parts, largely for Nissan.

The Highams Park operation consists of Stadium Building Products, making plastic ventilation and other construction-related products, and Quest Consumer Products, making branded plastic products for high street retailers in the consumer baby care market.

The two concerns, which employ around 120 permanent staff, contributed GBP11.2m to Stadium last year and made a profit of GBP800,000. The whole group saw an operating profit of GBP2.76m on revenues of GBP46.58m.

On 28 May Stadium confirmed that a preferred bidder is a market leader in plastics products manufacture, that employees' rights would be protected in any transfer to a new owner, and that a further statement would be issued when discussions are concluded.

MRC

FREILASSING (prw) -- Germany-based thermoforming machinery maker Kiefel has set up a cooperation agreement with Teisendorf-based Rudholzer, a supplier of custom engineering systems, to develop new business opportunities.

Both companies are active in the packaging and automotive industries. However, while Kiefel is specialised in series production thermoforming and welding machines, Rudholzer has expertise in the designs and construction of special machines for similar applications. It also supplies specialist machines for the semiconductor industry.

In a statement, the companies said the purpose of the cooperation agreement is to ⌠make efficient use of both organisations' respective strengths.

Kiefel is part of the Bruckner Group, a leading supplier of plastics machinery for cast film and sheet production with around 1,000 employees worldwide.

MRC

(plastemart) -- United Petrochemical Co is to build two petrochemical plants at the cost of US$700 mln in Kuwait. The new entity has been formed by Kuwait's Qurain Petrochemical Industries Co and United Industries Co in a 90:10 venture. The two plants will be the country's first for producing purified terephthalic acid (PTA), and polyethylene terephthalate (PET). All relevant licenses have been received by the company to go ahead with the project. Other details have not been disclosed.

MRC

LUDWIGSHAFEN (BASF) -- The Supervisory Board of BASF SE has today appointed Dr. Kurt Bock (51) to succeed Dr. Jurgen Hambrecht as chairman of the Board of Executive Directors of BASF. Dr. Martin Brudermuller (49) will become vice chairman of the Board of Executive Directors. Both appointments will take effect following the end of the Annual Meeting on May 6, 2011.

⌠Kurt Bock is an entrepreneur with an extensive international experience. Under his leadership, he will continue the company's success together with his colleagues on the Board of Executive Directors and the global BASF team, said Eggert Voscherau, chairman of the Supervisory Board of BASF SE.

The Supervisory Board will decide on further appointments to the Board of Executive Directors of BASF SE in early 2011.

MRC

MRC Reference

BASF. The share in the Russian market in 2008:
PS - 9.1% (GPPS - 5.9%, ABS - 11.4%, EPS - 10.6%).

Annual sales growth in Russia over the 5 years:
PS - 15%.

Imports by polymers processing technologies:
foaming;
injection molding.