(plastemart) -- Sinopec and the Hebi municipal government have inked an agreement to jointly develop a 1.8 mln tpa methanol-to-olefins project. Investment outlay in the first phase of the project will total CNY17 billion (US$2.5 bln). The JV will be formed by the end of the next month, and a feasibility study and environmental impact assessment for the project are to be completed before the end of the year.
MOSCOW (ANGI) -- Tomskneftehim Ltd. recently launched its 300.000 tpa ethylene unit after the modernization. During the modernization one of the key unit part - ethan-ethylene fraction column - was equipped with new internal devices made by Sulzer.
The modernization helped develop rectification characteristics, increase ethylene quality and made for 20% potential increase in ethylene output.
(prw) -- Chemtura plans to offer ⌠$450 million in aggregate principal amount of unsecured senior notes due 2018, said the company.
The proposed offering is part of Chemtura's exit financing package in line with its Chapter 11 plan of reorganization, if the plan is confirmed by the US bankruptcy court. A hearing is scheduled for 16 September.
(prw) -- Executives with Eastman Chemical said in a recent conference call that they believe they will find a buyer for their PET resin business by the end of the year.
During the firm's second-quarter conference call with stock analysts on 29 July, CFO Curt Espeland said that US-based Eastman has had ⌠strong interest in the PET unit since announcing it was open to a sale in late April.
(plastemart) -- Borealis has announced a net profit of ┬92 mln for Q2-2010, a further improvement compared to ┬54 mln in Q1-2010, as well as when compared to Q2-2009. Net profit was reported at ┬146 mln year to date; vs ┬35 mln during the same period in 2009.
Feedstock prices came down after a peak in April while polyolefin market prices continued to increase leading to improved industry margins. European polyolefins industry sales volumes are in line with previous years' sales levels. Borealis' sales volumes increased quarter-on-quarter in most market segments compared to the first quarter of 2010.
MRCСправка Маркет Репорт
Borealis. The share in the Russian market in 2008:
polyethylene - 4.1% (including HDPE - 4.7%, LLDPE - 8.7%);
polypropylene - 3.2% (PP-impact - 7.5%).
Annual sales growth in Russia over the last 5 years:
polyethylene - 11%;
polypropylene - 6%.
Leader in polymers processing technologies:
extrusion coating;
cable extrusion;
injection molding.
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