Germany's Dreyplas becomes official distributor of Sabic's polyofins in Poland

(plasteurope) -- Making its debut in November last year, Germany's Dreyplas (Meerbusch) has been appointed the official distributor of Sabic's polyolefin product range in Poland.

The German group's portfolio comprises a range of raw materials, additives and processing aids - mostly sourced from the Far East - for European plastics converters and compounders. Beyond the German-speaking markets, Dreyplas' distribution activities are either handled by a network of local sales representatives (Czech Republic, Slovakia and Hungary) or by its Polish affiliate Plaskobel (Lodz).

Dreyplas GmbH is a new but experienced player among the pan-European distributors. The company's diversified portfolio comprises raw materials, additives and processing aids for plastics converters and compounders as well as for the producers of adhesives, paints and coatings, chemicals and building materials.

MRC

(prw) -- The global packaging industry will grow in value to almost $820bn (?520bn) by 2016, predicts a new report from Pira International, driven mainly by increasing demand for packaging in emerging and transitional economies.

The Future of Global Packaging Market and Technology Forecasts to 2016 provides market sizes and forecasts broken down by packaging product, end-use sector and geographic market, in a comprehensive overview of the status of the packaging industry in 50 countries globally.

This growth is being driven by a number of broad trends such as growing urbanisation, investment in housing and construction, a burgeoning healthcare sector and the rapid development still evident in the emerging economies, including China, India, Brazil and some eastern European countries.

MRC

(prw) -- The European Commission is concerned that France has incorrectly implemented the definition of packaging and packaging waste in its national law, as required by EU waste legislation.

On the recommendation of Environment Commissioner Janez Potocnik, the Commission is to ask France it to amend its national legislation accordingly. If France fails to reply within two months, the Commission may refer the case to the European Court of Justice.

Directive 94/62/EC on packaging and packaging waste covers all packaging waste regardless of the material used, and is intended to reduce the volume of waste and encourage sustainable growth.

The Directive sets criteria for defining packaging and packaging waste that Member States are required to translate into their national legislation. The definition is important as it determines the scope of application of the Directive.

According to the Commission, France has not yet transposed the criteria jointly decided at EU level into its domestic law, which could lead to the packaging waste rules not being applied to all the relevant items.

MRC

(process-worldwide) -- The world's biggest oil corporation takes its leave in Japan: Exxon sells all Japanese production and sales operations for USD3.9 billion.

Tokyo/Japan - Exxon Mobil withdraw from operation in Japan: The number one 'big oil' company announced plans to restructure its business in Asia, selling all productive and retail operations in Japan to Japanese refiner Tonen General Sekiyu for approximately USD3.9 billion.

Exxon expects the restructuring to proceed seamless for its Japanese customers, dealers and business partners with expects existing agreements remaining unchanged, speakers said. Current management will remain in place until the closing of Exxon's Japanese business in mid-2012.

Exxon's only remaining commitment in Japan will be the large shares that the company holds in Tonen General Sekiyu and its participation on its Board of Directors. The Japanese refiner will have exclusive, long-term use of Exxon Mobil's existing brands on the Japanese market.
MRC

(ineos) -- INEOS announced today that its subsidiary, INEOS Finance plc, had completed the pricing of its offering of U.S. dollar-denominated fixed rate and euro-denominated floating rate senior secured notes due 2019.

The Notes, in approximately USD1.65 billion equivalent, priced at USD1 billion at 8 3/8 % and EUR500 million at EURIBOR plus 600bps, with a EURIBOR floor of 125bps.

The increase in the aggregate principal amount of the offering from the USD850 million equivalent, initially announced at launch of the offering, to approximately USD1.65 billion equivalent, is a reflection of the very strong demand for the Notes, both in Europe and the US.

The net proceeds of the offering will be used to prepay all of the Term Loan B, as well as a portion of the Term Loan C, outstanding under a bank facilities agreement dated 12 May 2010, putting the INEOS Group in a stronger financial position as trading continues to improve. The next significant instalment of term debt under this facilities agreement does not become due until 30 June 2014.

John Reece, CFO INEOS Capital said today: ⌠This is again a significant vote of confidence in INEOS. Although our aim was to raise USD850m, in the end this was extended to approximately USD1.65bn. The market is clearly encouraged by the continued performance of the INEOS Group and its ability to deliver its business plan. INEOS continues to perform very well during difficult economic conditions. It has delivered a strong performance in 2011 and is already seeing a positive start to 2012. In combination with our continued focus on cash management and liquidity we have significantly de-levered the Group.

The Notes were assigned a Ba3 rating from Moody's and a B rating by Standard & Poor's.

MRC