Romania's AdePlast to start building second EPS unit in Romania this year

(romania-insider) -- Romanian construction materials producer AdePlast plans to build a third factory in Romanian city, Roman this year, according to the company. Investment will amount to over EUR 10 million for a production site for mortars, polystyrene and paint. Through the new production facility, the company aims to cover the Eastern and Northeastern part of the country with lower costs, and also to serve customers in Ukraine and the Republic of Moldova.

"For 2012, in the optimistic budget scenario, we planned an increase of over 20 percent. The growth is perfectly plausible if taking into account that in 2011 AdePlast increased by over 12 percent on a numbed market governed by price decreases, said Marcel Barbut, owner AdePlast. The company has already increased its prices by 5 percent, and for the first part of the second quarter of 2012 ⌠ a further 5 percent will be added to our product prices," added Marcel Barbut.

AdePlast has also appointed its consultants for 2012, namely Deloitte for auditing and LinksPR for communication.

AdePlast was founded in Oradea, in 1994. The company now owns two production units, at Oradea and Ploiesti. Their annual capacity reaches 700,000 tonnes of mortar and 800,000 tonnes of tincture, decorative coating and special humid adhesives.

MRC

(fibre2fashion) -- The Indian Government has extended the levy of anti-dumping duty on various types of yarn imports for a further period of six months till August 20, 2012.

The anti-dumping duty on imports of all Fully Drawn or Fully Oriented Yarn/Spin Draw Yarn / Flat Yarn of polyester, originating in, or exported from, Indonesia, South Korea, Malaysia and Taiwan was first imposed in February 2007 by the Department of Revenue, Ministry of Finance. These yarns are used in weaving and knitting to make fabrics.

The duty was imposed after the Directorate-General of Anti-Dumping and Allied Duties (DGAD) found that low-price imports of yarn from the four Asian nations were harming the domestic industry.

The DGAD had sought extension of the duty for a period of another one year. But the latest notification issued by the Department of Revenue says the anti-dumping duty shall remain in force up to and inclusive of August 20, 2012, unless the notification is revoked earlier.

As per the procedure, while the DGAD has the power to recommend the imposition of anti-dumping duty, it is the Department of Revenue which actually imposes it.
MRC

(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