(Reuters) -- Turkish petrochemical company Petkim said in a filing with the stock exchange that the energy market regulator EPDK awarded permission for the construction of a refinery with 10 million tonnes/year capacity by Petkim.
Launch of a new plant in Turkey should raise Turkish exports quotes and may promote future contracts with converters and traders from CIS countries. No terms of construction or value of investments have been announced yet.
LUDWIGSHAFEN (BASF) -- BASF yesterday announced that it has signed a definitive agreement to sell its hydrophilic melt additives business to Techmer PM, LLC, a manufacturer of colors and additives for the plastics and fiber industries located in Clinton, Tennessee, USA. The hydrophilic melt additives are currently marketed under the brand name Irgasurf HL. Both companies have agreed not to disclose financial details of the transaction.
⌠In the course of the integration of the former Ciba Plastic Additives business we have analyzed our combined offering to the plastics industry and have decided that the Irgasurf HL products do not fit our strategic scope, explained Soeren Hildebrandt, Vice President Global Strategic Management and New Business Development in the Performance Chemicals Division.
MRCMRC 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.
(RBC-Daily) -- Belgian concern Solvay SA, which was waiting for several months for the permission of Federal Antimonopoly Service (FAS) to purchase Bereznikovsky Sodovy Zavod (BSZ - Berezniki Soda Factory), didn't obtain the deal. Last Friday the plant was bought by ⌠Bashhim associates, which has also obtained FAS permission together with Belgian company.
According to official Kaustik Ltd. (⌠Bashhim associated) data, On June 4 this year the company became an owner of almost 97% of BSZ stocks. Kaustik's documents witness that value of the deal formed about EUR 133,81 mln., which colud be change in respect to BSZ work in the first half of 2010. The first EUR 60 mln. Payment has already been done. The rest will be paid during next three years. Sberbank has opened credits for Kaustik under average 12% per annum
(Borealis) -- Borouge, a joint-venture between the Abu Dhabi National Oil Company (ADNOC), one of the world's major oil companies, and Borealis, a leading provider of chemical and innovative plastics solutions, has awarded the contract worth AED 260 million for the construction of its Innovation Centre in Abu Dhabi, UAE, to Associated Construction and Investments Company (ASCON), the civil arm of the successful ETA-ASCON Group.
The new Innovation Centre, planned for completion by the end of 2011, will house more than 50 international researchers and engineers focusing on developing innovative plastics solutions for the pipe, automotive and advanced packaging industries. The Centre itself will cover approximately 18,000 m2 and the contract includes construction of a training centre for the Gulf Plastic Pipes Academy (GPPA).
MRCMRC Reference
Borealis. The share in the Russian market in 2008:
polyethylene - 4.1% (including HDPE - 4.7%, LLDPE - 8.7%);
polypropylene - 3.2% (PP-impact - 7.5%).
Annual sales growth in Russia over the last 5 years:
polyethylene - 11%;
polypropylene - 6%.
Leader in polymers processing technologies:
extrusion coating;
cable extrusion;
injection molding.
SITTARD (SABIC) -- Sabic introduced it's new SABIC PP Flowpact range of impact copolymers. The main advantages of it became shorter cycle times, lower energy costs and increased downgauging possibilities.
The SABIC PP Flowpact range of polymers should provide major benefits to converters, particularly in thin wall packaging. Foremost among these is the ability to make cost savings in terms of unit production costs and energy savings with further knock-on benefits for related environmental considerations.
Sabic. The share in the Russian market in 2008:
PE - 0.2%;
PP - 0.4%;
PS - 0.2%.
Annual sales growth in Russia over the last 5 years:
PE - 33%;
PP - 62%.
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