Styron changes the timing in European polystyrene contract pricing

(plasteurope) -- In a move aimed at improving the way the current polystyrene price is settled - a process it says "presents a number of inefficiencies ranging from incorrect pricing to time-consuming accounting adjustments" - Styron Europe (Horgen / Switzerland) has proposed that the monthly PS price be fixed in the first week of each month and no later than the 10th working day.

Europe sales manager Murat Orhon said that, ⌠In the past three years the contracts were mostly fixed only at month's end. Under present practices orders are placed and delivered before the PS contract has been fixed."

MRC

(plasteurope) -- At the beginning of March 2012, private equity firm Huntsman Gay Global Capital (Foxborough, Massachusetts / USA) announced that it had acquired plastics composites group Citadel Plastics Holdings (Chicago, Illinois / USA) from fellow private equity group Wind Point Partners (Chicago, Illinois / USA).

Citadel Plastics is the owner of thermoset compounds producer Bulk Moulding Compounds (BMCI, Chicago, Illinois / USA) as well as specialty thermoplastics compounds manufacturer The Matrixx Group (Evansville, Indiana / USA).

Terms of the deal were not disclosed, although Huntsman Gay Global Capital did say Citadel's current management team would remain in place and retain an ownership stake in the business. The Chicago-based holding has a global workforce of more than 600 at 14 locations in seven different countries.

MRC

(chemicals-technology) -- Shell Chemical has entered into a land option agreement with Horsehead to evaluate a site in the Appalachian region near Monaca, Pennsylvania, US, for a potential petrochemical complex.

The complex will include an ethane cracker, polyethylene (PE) and mono-ethylene glycol (MEG) units.
Shell Chemicals new business development general manager Dan Carlson said the company looks forward to working with the communities in Pennsylvania and gas producers across Appalachia, so as to continue its efforts to develop a petrochemical complex.

Shell says the next steps for the project include additional environmental analysis of the Pennsylvania site, further engineering design studies, assessment of the local ethane supply and continued evaluation of the economic viability of the project.

Shell selected the site by considering various factors such as good access to liquids rich natural gas resources, water, road and rail transportation infrastructure, power grids, economics, and sufficient acreage to accommodate facilities for a world scale petrochemical complex and potential future expansions.
MRC

(chemicals-technology) -- Dow Chemical Company has been cleared by the Federal Trade Commission (FTC) to sell a chemical production facility and associated property in Torrance, California, US, to Hager Pacific Acquisitions.

The sale is necessitated by a 2009 settlement order which resolved the FTC's concerns that Dow's acquisition of Rohm & Haas would reduce competition in acrylic acid and latex polymers markets. The settlement order also said that Dow should divest all of its interest in the Torrance site.

In 2010, the FTC approved Arkema to lease Dow's acrylic acid business and the latex polymers business, as Arkema selected to lease rather than purchase the Torrance site, and gave Dow a year to find a buyer for the Torrance plant, including the site and land leased by Arkema.

The FTC approval will allow Arkema to continue to operate the Torrance facility by leasing it from an affiliate of Hager Pacific Acquisitions. Dow submitted an application to sell the Torrance site to a subsidiary of Hager Pacific Properties, Hager Pacific Acquisitions, in August 2011.

The FTC approval will allow Arkema to continue to operate the Torrance facility by leasing it from an affiliate of Hager Pacific Acquisitions. Dow submitted an application to sell the Torrance site to a subsidiary of Hager Pacific Properties, Hager Pacific Acquisitions, in August 2011.

MRC

(plastemart) -- Mitsubishi Heavy Industries, Ltd. (MHI) has received an order for a large-scale carbon dioxide (CO2) recovery plant for Qatar Fuel Additives Co., Ltd. (QAFAC), a major fuel additive producer in Qatar, through "MHI Industrial Engineering & Services Private Ltd. (MIES)", an MHI engineering business affiliate headquartered in Singapore.

The CO2, which is to be recovered at up to 500 tons per day (tpd) - one of the world's largest CO2 capture capacities, will be used to increase production of methanol. The event marks the first overseas order for an MHI CO2 recovery plant specifically targeted at raising methanol production. Construction of the plant is slated for completion in October 2014. The CO2 recovery plant, which will be built within QAFAC's methanol production plant near Doha, Qatar's capital city, will capture CO2 from combustion exhaust gas emitted in the methanol production process.

The CO2 separated and recovered from the flue gas using MHI's proprietary KS-1(TM) solvent will be provided as feedstock for boosting methanol production. In conjunction with plant order, MHI will license its CO2 recovery technology to QAFAC through MIES. MIES will be responsible for engineering, procurement and construction (EPC), and Mitsubishi Corporation will handle the trade particulars.
MRC