Formosa to expand its oil processing capacity

(plastemart) -- Formosa Petrochemical Corp plans to augment its crude oil processing capacity from 540,000 bpd to 593,000 bpd in three years. Government approval is being sought to further increase capacity to 720,000 bpd. Production capacity will be expanded to boost competitiveness, in a recovering economy. Formosa operates three crackers that can process naphtha or liquefied petroleum gas into ethylene and propylene, chemicals found in plastics and polyester fabrics. Combined capacity at the three crackers totals 2.94 mln tpa of ethylene.

MRCMRC Reference

Formosa

The share in the Russian market in 2008:
PVC-S - 3.0%;

PP - 0.4%.

Annual growth sales in Russia :
PVC - 79 % (over the last year) ;

PP - 272 % (over the last 3 years).

Supply by processing technologies:
profile extrusion

film extrusion

AkzoNobel to close powder coatings site in Germany

(EC) -- After having recently acquired the powder coatings business of Dow, AkzoNobel plans to restructure the production activities in Germany. The company intends to shut down the powder coatings plant in Bensheim/Germany by end of this year. The acquired business of Dow operates a powder coatings facility in Arnsberg/Germany. The coatings producer plans to concentrate its activities on this site in the future. From the Bensheim-site the coatings producer supplied its products for decorative applications to the markets in Germany, Switzerland, Austria, Scandinavia and the Baltic states.

MRC

SIBUR may start operations in India

(SIBUR) - SIBUR President Dmitriy Konov took part in a panel discussion about business-dialogue between Russia and India.



Estimating the potential and possible cooperation ways with India in petrochemical sphere, Dmitriy Konov told about two important factors. From one side, Indian market is one of the most promising ones in infrastructure development, which is stimulating the demand for petrochemical goods and sharp increase of able-bodied population. From the other side, supplies of petrochemicals from Russian plants into India are complicated by natural obstacles: geographic remoteness, necessity of long nautical transportations.

That's why, according to SIBUR's President, the only possibility to enter Indian market is to produce special goods right in India. There are all the conditions for it: closeness of hydrocarbon resources in Middle East, good engineering personnel in India and the biggest petrochemical complex in the world in Jamnagar, which could be the site for petrochemical goods production



MRC
MRC Reference

Sibur Holding is the largest Russian petrochemical group.

Shareholders:
Gazprombank (70% minus 1 share);
Gazfond (25% plus 1 share);
5% reserved for option program.


Cereplast expects 400% production increase in 2010

(plastemart) -- Cereplast Inc. expects to produce and ship approximately 16 million lbs of its proprietary bio-plastic resins to customers in 2010- a 400% increase in shipments compared to 2009. Cereplast has inked new global distribution agreements with several companies, including multi-billion dollar corporations Ashland Distribution, a commercial unit of Ashland Inc. and Bunge Alimentaris, a Brazilian subsidiary of Bunge Limited, a contributing factor to the rise in shipment estimates. To support growing sales volume, the Company recently opened a new production facility in Seymour, Indiana. The move to the new plant, which was relocated from Southern California, also has significantly reduced real estate and utility costs for the company.

MRC

Songwon opens a new headquarter in India

(plastemart) -- Songwon has established Songwon International India Pvt. Ltd., located in Mumbai as the headquarter for Songwon activities in India and South East Asia.

Dieter Morath, Executive Vice-President EMEA of Songwon International AG, said: "The establishment of Songwon International India Pvt. Ltd. is a new milestone in our strategy to develop local presence in high growth regions. Demand for our products is growing rapidly and the region is fast becoming a very important market for us. We have chosen India because it is one of the key driving forces of global economic development and in particular we expect a continuous growth in the plastic related industries. India offers the perfect combination of a growing local and regional demand with an abundance of skilled and educated human resources."

MRC