PET producer wraps up financial reorganisation with capital increase

(plasteurope) -- A EUR 40m capital increase is supposed to complete PET producer La Seda de Barcelona's financial restructuring and simultaneously shift the company's focus to a completely integrated PET packaging production chain. The latest financial injection is to go towards raising the activities of processing subsidiary Artenius PET Packaging Europe. LSB is also mulling the installation of a new PET line.

Against this bacjdrop, it comes as no surprise that APPE has announced the construction of a new plant in Katowice / Poland. The EUR 15m facility, which will turn out the entire APPE portfolio, including preforms and bottles, is due to be completed by the end of 2012 and will predominantly cater to the north and east European markets with a special focus on Russia and Ukraine.

APPE is also planning to build a new facility in Italy - an important European PET market where it does not yet have a production unit. The former Schmalbach-Lubeca business currently operates production plants in the UK, Germany, France, Belgium, Morocco, Turkey and Greece. In the future, APPE plans to focus increasingly on delivering innovative solutions and "through the wall" services.
MRC

(polykemi) -- Swedish compounder Polykemi has invested EUR 3m in four new twin-screw extruders, installed at its headquarters as well as its site in Kunshan / China. Aside from raising overall compounding capacity, the investment also raises the plastics recycling capacities of its Ystad-based subsidiary Rondo-Plast.

The group also announced that it had appointed Budapest-based HSH Chemie the new distributor for the Polykemi and Rondoplast portfolio in eastern Europe.

HSH Chemie is part of the Ter Hell group and has been operating as a distributor in Hungary since 2000. At the same time, Polykemi announced that TLP - Teconologicplast had been named the new distributor for its portfolio in Spain.
MRC

(hydrocarbonprocessing) -- Siemens Industry Automation Division is providing another Zimpro wet air oxidation (WAO) system to treat wastewater at Sinopec Yangzi Petrochemical Co., Ltd.'s facility, near the Yangzi River in Jiangsu Province, People's Republic of China.

Siemens Industry Automation Division is providing another Zimpro wet air oxidation (WAO) system to treat wastewater at Sinopec Yangzi Petrochemical Co., Ltd.'s facility, near the Yangzi River in Jiangsu Province, People's Republic of China. The most recent of seven Zimpro WAO systems installed at Sinopec facilities will be used to treat sulfidic spent caustic wastewater streams.

The Yangzi system will treat approximately 4 m3/hr (17.6 gpm) of wastewater. The system is anticipated to be operational by the end of 2012.

The WAO process will oxidize odorous reduced sulfur species such as sulfides and mercaptides. The system will also break down complex organic contaminants, such as phenols, to either carbon dioxide and water, or biodegradable organics. It will generate a biodegradable effluent that can be discharged to conventional biological wastewater treatment.

The Yangzi facility includes both a refinery and a petrochemical plant where fuels and ethylene are produced. This Sinopec project marks the ninth Zimpro WAO system installed by Siemens Water Technologies in China for spent caustic treatment.

Sinopec Yangzi Petrochemical Co. Ltd. is a wholly-owned subsidiary under China Petroleum & Chemical Corp.
MRC

(hydrocarbonprocessing) -- Total signed a comprehensive memorandum of understanding (MOU) with Kuwait Petroleum International (KPI) and Petrochemicals Industries Co. (PIC) for the planned development of a 300,000 bpd full-conversion refinery integrated with petrochemicals complex with Sinopec.

Total signed a comprehensive memorandum of understanding (MOU) with Kuwait Petroleum International (KPI) and Petrochemicals Industries Co. (PIC), two wholly owned subsidiaries of the Kuwait Petroleum Corp. on March 13. The MOU relates to a targeted participation in the Zhanjiang project in China. This project consists of a planned development of a 300,000 bpd full-conversion refinery integrated with petrochemicals and marketing, in partnership with Sinopec.

The proposed refining and petrochemicals platform will be designed to process Kuwaiti crude as feedstock and to produce high-quality refined and petrochemicals products.

"KPC is pleased to expand its cooperation with Total" declares Mr. Farouk Al Zanki, KPC Chief Executive Officer, after the signing of the MOU. 'Total, with its long experience in the downstream business in China coupled with know how in refining and petrochemicals operations, will add value to the China project. Moreover, Total's and KPC's strategic objectives in Guangdong are highly aligned," he adds.

"Total is pleased to have been selected by Kuwait Petroleum Corp. as its preferred partner to participate in the project of a top-performing refining and petrochemicals platform with Sinopec in China. This agreement will be the keystone of a long-term relationship with KPC", declares Mr. Christophe de Margerie, Total Chairman and Chief Executive Officer. "The project is in line with our strategy of expanding in growth markets, based on a few highly competitive and integrated platforms," he adds.
MRC

(plasteurope) -- For French chemicals and plastics producer Arkema, 2011 was a "new milestone" in its history, CEO Thierry Le Henaff said in presenting annual results. "The financial performance was excellent, and the group's transformation has been actively pursued," he added. The CEO credited structural improvements achieved over the past several years for pushing EBITDA to just over EUR 1 bn - "twice the earnings result of 2007 in a similar macroeconomic environment."

Arkema CEO Thierry Le Henaff said the group's 2011 results were "excellent" Group figures for 2011 show EBITDA up 28% year-on-year to EUR 1.03 bn on the back of a 21% sales rise to EUR 5.9 bn. Adjusted for the Vinyl Products activities spun off late last year in preparation for a sale to the Swiss family-run Klesch group.

Sales of the Industrial Chemicals segment, which includes the acrylics business, rose by 24% to EUR 3.9 bn, thanks in part to ⌠significant price increases to offset higher raw materials costs. The segment's EBITDA improved by 28% to EUR 732m and the EBITDA margin widened to 18.6% from 18%. Performance Products, including the polyamide activities and the PVDF fluoropolymers business, saw sales expand by 16% to EUR 1.95 bn. The segment's EBITDA increased by more than 30% to EUR 339m and lifted its earnings margin to 17.4% from 15.5% in 2010.

Arkema's sales figures pertain solely to continuing operations and thus exclude the performance of Vinyl Products. The sales improvement is attributed in particular to the specialty coatings resins activities acquired from parent Total and consolidated from July 2011- as well as to start-ups in Asia. The resins acquisition is also credited with contributing to the earnings upturn, along with the start-up of the ⌠Kynar PVDF plant in Changsu / China .

Separately held Vinyl Products saw EBITDA decrease by 24% in 2011, due to a "challenging European construction market with significant destocking by customers at year's end." Fourth-quarter earnings were diminished by strikes at the LyondellBasell refinery in Berre, triggered by the announcement that the unit would close, and at Arkema's Vinyls sites in protest of the divestment plan. The group said it was able to increase prices for caustic soda and PVC, "without fully offsetting the rise in ethylene and energy costs."
MRC