Samsung Total Petrochemicals to upgrade Daesan complex in Korea

(plastech) -- Total is consolidating its positions in petrochemicals in Asia with a new expansion and upgrading project for the Daesan complex in South Korea, which the Group owns with Samsung as part of the Samsung Total Petrochemicals 50/50 joint venture. With costs approaching USD1.8 billion, the project calls for the construction of a second aromatics1 unit and an ethylene-vinyl acetate (EVA) copolymer unit at the Daesan petrochemical complex.


The new aromatics unit will have a production capacity of around 1 million metric tons of paraxylene and 420,000 metric tons of benzene per year and will be completed by September 2014. Paraxylene is used to manufacture polyester, while benzene is used to produce petrochemical products such as styrene.


With the completion of the aromatics unit in 2014 and the upgrade of existing paraxylene capacity in 2012, total paraxylene production capacity will be increased to 1.76 million metric tons.


"This investment project in partnership with Samsung is aligned with Total's strategy of expanding in growth markets. It gives us the strong base we need to maintain our position as a leading supplier of value-added products to meet demand in Asia, especially China, said Patrick Pouyanne, President of Total's Refining - Chemicals business. ⌠We are pursuing our strategy of focusing our spending on our most efficient integrated platforms, such as the Daesan complex.

The Daesan petrochemical complex is a world-class facility that manufactures four main products ≈ polypropylene, polyethylene, styrene monomer and paraxylene. Fifty percent of its output is exported, primarily to China.


MRC

Sibur's Alphapor to start in spring 2012

(plastech) -- Construction and installation of the second phase for the production of Sibur's Alphapor expandable polystyrene has been completed, and startup operations have commenced.


Trial manufacture of expandable polystyrene is planned to begin in spring 2012. The second phase is expected to be able to produce 50,000 tonnes a year by the summer of 2012.


The official startup of the first stage of production of 50,000 tonnes per year of expandable polystyrene took place at the end of 2010. During 2011 production was based on projected capacity and sales volume. Total projected production capacity of expandable polystyrene at Sibur's Perm site after completion of the second stage of the complex will reach 100,000 tonnes per year.


Alphapor expandable polystyrene is produced using the technology of the Austro-Norwegian Company Sunpor. The product is employed in a wide variety of uses, including energy-efficient building insulation, permanent shuttering, and packaging for household appliances and food products. The major world markets for construction-grade polystyrene foam are the USA and Europe (France, Italy, Germany and Poland).

All grades of Alphapor expandable polystyrene comply with strict European standards for fire safety, grain-size distribution, density and stress-strain properties. The grades of expandable polystyrene used in the production of building insulation are required to contain fire-retardant antipyrenes.


MRC

Honda sees sharp drop in profit

(bbc) -- Japan's third biggest carmaker, Honda, has announced a 41% drop in quarterly profit, as it continues to feel the impact of Japan's March disasters, the floods in Thailand, and the high yen.

Net profit for the third quarter fell to 47.6bn yen (USD 624m; GBP 396m) from 81.1bn yen a year earlier. Sales for the three-month period fell 8% to 1.94tn yen.

The company also slashed its annual forecast. It now expects a net profit of 215bn yen for the year to March. In August it had estimated a profit of 230bn yen before withdrawing its guidance citing uncertainty due to the Thai floods.


Honda was the slowest carmaker to recover from the earthquake and tsunami in Japan in March 2011. It also has a factory in Thailand, which has been closed since October's floods. It is expects to resume production there at the end of March.


In 2011, Honda's global output dropped by a fifth to 2.9 million cars, slipping below 3 million for the first time in eight years. The firm also said it was seeing a "negative currency effect" due to appreciation of the Japanese yen.

A strong currency hurts exporters as it makes their products more expensive for overseas buyers.

MRC

SABIC announced 9.8% net profit decrease in Q4 2011

(chemmonitor) -- Saudi Basic Industries Corporation (SABIC) announced results for the 4th quarter 2011 and fiscal year 2011. The net income in Q4 2011 amounted to Saudi Riyals (SAR) 5.24 billion. It is 9.8% lower in comparison to the same period last year. Moreover, this figure is much lower SAR 7.4 billion expected by analysts.


Sales increased, but the lower prices for most of company's products led to the net profit decrease. The gross profit in Q4 2011 reached SAR 13.38 billion, a 3% year on year increase.


Saudi Basic Industries Corporation is the world's biggest petrochemical company by market value and one of the world's leading manufacturers of chemicals, performance chemicals, fertilizers, plastics and metals.


Its product portfolio includes ethylene, propylene, butadiene, MTBE, styrene monomer, benzene, paraxylene, caustic soda, acetone, phenol, methanol, etc. The company has operations in more than 25 countries and over 33,000 employees worldwide.


SABIC is traded on the Saudi Stock Exchange (Tadawul) under the ticker symbol 2010.


MRC

Soft drink producers to reduce packaging waste

(polyestertime) -- Soft drink manufacturers are on track to reach zero waste to landfill by 2015 - however, maintaining product quality remains a key challenge.

This was the conclusion of a recent report recent report from the British Soft Drinks Association (BSDA) that reviewed the sector's sustainability progress - the Soft Drinks Industry Sustainability Strategy, launched in 2008.

The report builds on tough ambitions for waste reduction, as well as those included within phase 2 of WRAP's Courtauld Commitment.

Setting out packaging waste reductions already achieved by the sector, the study outlines how drinks manufacturers can further reduce the impact of their packaging and work towards waste prevention.

Brands like Coca-Cola and Pepsico tend to go for a "blended PET and degradable solution" while also investing in plant-derived plastics and selling it as an alternative to oil as it has no degradability issues.


Last year Coca-Cola launched a plant bottle for its 500ml products. Featuring 25% recycled content, it includes up to 22.5% of PET derived from renewable plant sources rather than hydrocarbons from petrochemical sources - saving more than 60,000 barrels of oil each year.


MRC