Cereplast extended its agreement with ColorTec to supply bioplastic resin

(Cereplast) -- Cereplast, Inc., a leading manufacturer of proprietary biobased, compostable and sustainable plastics, has extended its agreement with Italy-based ColorTec S.r.l to supply bioplastic resin to the Italian and Slovenian markets effective November 4, 2011 through December 31, 2012. Under the terms of the agreement, ColorTec is projecting to purchase $20 million of materials in 2012.


"With the signing of this significant agreement, ColorTec intends to purchase $20 million of product in 2012 and becomes Cereplast's main distribution partner in Italy," said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. "The expansion of this agreement reflects the increasing demand for our bioplastic products in Italy, where we have recently completed the purchase of a manufacturing plant, expected to start production in 2012. We look forward to continuing our already strong relationship with ColorTec to expand our footprint in Italy."


MRC

ICIS-MRC to offer a new format of the Polymers Summit

(MOSCOW) -- In Moscow on 30 November 2011 in The Ritz Carlton The Polymers Summit-2011 will be held under the guidance of ICIS-MRC (Market Report). The participants of the Summit will be top-managers of the leading Russian and foreign companies which produce and process nearly a half of the polymers market of CIS. The main idea of the Summit is to find "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of the feedstock that helps them to compete imported finished products.

"A new Summit will be absolutely different from ordinary conferences with a list of reports and coffee breaks, - as per Sergey Karaichentsev from MRC (Market Report). - The Summit programme will be formed on the basis of online-questions to speakers. The reports will be short, the main time of the speakers will be devoted to communication with colleagues. Each Summit participant from the moment of registration is forming topics of reports and invites colleagues. On the summit site it is possible to watch videos, presentations, reports, ask questions to any Summit participant. In "My schedule" it is possible to invite a partner for a cup of coffee, cocktail or lunch as well as confirm or postpone a meeting".


The first Summit was visited by 165 delegates from 15 countries, including representatives of Nizhnekamskneftechem, Kazanorgsyntez, LUKOIL, Sibur, Salavat, BASHCHEM, Sayanskchemplast, Dow, Borealis, ExxonMobil, LG Chem, LyondellBasell, SABIC, Total Petrochemicals, Petkim, Polyplastic, Centropolymer, Biaxplen, Tarkett, Profine, ETC, Transchem, ETK, Lava, Chempack etc. Companies-participants produce and process more than half of all bulk polymers in the CIS.


MRC

US Sealed Air to integrate global cleaning and sanitisation specialist Diversey

(PlastEurope) -- Protective packaging supplier Sealed Air (Elmwood Park, New Jersey / USA) has revealed its next steps in the integration of global cleaning and sanitisation specialist Diversey, which it acquired in June 2011 for USD 4.3 bn. The integration will lead to the establishment of three market-oriented business units focused on food safety and security, facility hygiene and product protection.


The company said the new organisation will simplify its organisational structure and reduce complexity, bring advantages through economies of scale in key market sectors and geographies, focus and accelerate growth in developing markets across all businesses and maximise shared customer and development opportunities in the food and beverage unit.


The new organisation will consist of the business units and a developing markets group to support the global businesses and accelerate growth in Africa, Asia, India, the Middle East and Turkey, the company said. The new structure is expected to be implemented in 2012 and will replace Sealed Air's six business unit structure and Diversey's four region-based structure.


The food and beverage business will combine Sealed Air's legacy food packaging and food solutions businesses with Diversey's food and beverage applications. The new segment will deliver solutions to improve the food and beverage supply chain, bringing extended product shelf life, reduced waste, and provide value-added convenience benefits, the company said. This business is expected to represent approximately 45% of Sealed Air revenue. It will be led by Karl Deily, who currently leads the company's global food packaging business.


MRC

Arkema's adjusted net profit in the third quarter edged up by 1.56%

(ICIS) -- Arkema's adjusted net profit in the third quarter edged up by 1.56% year on year to ┬130m ($181m) as stronger product prices helped offset spikes in raw material costs and a one-off charge, the French specialty chemicals firm said on Wednesday. The third-quarter results included a non-recurring charge of ┬27m related to the acquisition of Total's specialty resins businesses, the company said.


Arkema's revenues in the July-September period grew by 18.6% year on year to ┬1.85bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 6.91% to ┬263m, the company said in a statement.


The company's financial performance for the quarter was within expectations, said Thierry le Henaff, chairman and CEO of Arkema. ⌠This performance was boosted by strong growth in Asia, a region that now accounts for 20% of our sales, and new markets developed with our performance polymers, in particular in solutions for sustainable development, he said.


MRC

In Asia ethyl-A prices to fall this week

(ICIS) -- Spot ethyl acrylate (ethyl-A) prices in Asia may fall by $50-110/tonne (┬36-79/tonne) this week as regional producers start to cut offers to get rid of high inventories, market sources said on Wednesday.


A regional producer and two southeast Asian traders said they were willing to offer spot ethyl-A cargoes at $1,900/tonne on a cost, insurance and freight (CIF) basis to southeast (SE) Asia and China.

On 2 November, spot ethyl-A prices were assessed at $2,000-2,010/tonne CIF SE Asia, and at $2,000-2,010/tonne CIF CMP (China Main Port), data from ICIS show.


Several regional producers said that they are struggling to control stockpile levels as their key customers from Thailand have not been purchasing cargoes since late September.


Meanwhile, traders are also finding it difficult to even contact their regular customers. ⌠My regular customers say that they are unable to transport out, or sell any of their end-products, hence, they are not interested in buying ethyl-A feedstock, no matter how low the price is at present, said a southeast Asian trader.


MRC