Solvay SA looses BSZ purchase contest

(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

MRC

(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.

MRC

MRC Reference

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%.

SINGAPORE (Financial Times) -- An initial public offering being considered by Malaysian state energy company Petronas for its petrochemicals arm is expected to raise about $2bn, according to people close to the talks.

Bankers said the group was discussing an IPO with a number of Malaysian and international investment banks, although no mandates to advise on the deal had yet been signed.

MRC

(RBC) -- After 9 months of waiting, Belgian concern Solvay SA is now able to finish the deal on the purchase of ⌠Bereznikovsky Sodovy Zavod(BSZ) - one of the biggest Russian producers of soda ash. Federal Antimonopoly Service (FAS) announced today the approval of the deal. However, Solvay's competitor, Bashchem company, has also obtained FAS's permission.

Yesterday FAS told about the satisfaction of application of Solvay Participation France S.A.S. to obtain the rights to define the conditions of BSZ activities. However, the application of Soda and Kaustik (both being part of Bashkhem) to purchase 100% of BSZ stocks has also been satisfied.

Instead of considering an application during 2 months, FAS did it two weeks after the application.

MRC