Bayer MaterialScience buys Arkema's PC sheet business

(canplastics) -- Polymers and high-performance plastic maker Bayer MaterialScience (BMS) is buying the polycarbonate sheet business of Arkema Inc., the U.S. subsidiary of the French firm Arkema Group.

The terms of the deal are not being disclosed. According to BMS, the transaction includes the acquisition of Arkema's Tuffak brand, which is used in such markets as aerospace, transportation and heavy equipment.

"The addition of the well-known Tuffak business will further strengthen our quality leadershipposition in the growing North American polycarbonate sheet market," said Thomas Karl Kastner, global head of BMS' sheet business.

"We plan to quickly integrate the Arkema, Inc. sheet business into our portfolio in order to provide our customers with an enhanced portfolio of industry leading polycarbonate sheet products. This acquisition will support our strategic initiative to establish polycarbonate sheet as the product of choice in the security glazing, mass transportation and signage markets."

The purchase doesn't include any facilities. Instead, all of the equipment used to make the product lines will be moved to one of BMS' sheet facilities.

Headquartered in Pittsburgh, Pa., BMS is part of the global Bayer MaterialScience business with approximately 14,800 employees at 30 production sites around the world. The company's 2011 sales in North America were USD2.9 billion.

MRC

(omantribune) -- Octal Petrochemicals Company is planning to invest USD1 billion by the end of 2014 to expand the capacity, said George Freiji, development manager at Octal Petrochemicals Company.

The company, whose plant is located at Salalah Free Zone, looks to become the fourth largest producer of polyethylene sheets and resin in the world with a capacity of 950,000 tonnes by next May. Currently, the company is the largest PET sheets and resin producer in the Middle East.

The company, which had invested USD600 million to set up the small plant in the first and second phase of expansions, contributes 1.1 per cent of the gross domestic product (GDP) of the Sultanate.

Further, the company's production accounts of 10 per cent of the Sultanate's non-oil exports, added Freiji.

The company's project, a joint Gulf and Oman venture which started with a production capacity of 30,000 tonnes of PET resin that used to manufacture plastic packages, is one of the mega projects for the production PET sheets and resin in the world, he said.

MRC

(polyestertime) -- Additional cargoes of Asian PP and PE are showing up in Europe and Southeast Asia these days as
disappointing demand from China continues to push traders to divert material to other markets while some Chinese traders also report that they are looking for re-export opportunities.

A trader based in Taiwan reported that they diverted some of their allocations of Thai LDPE film to Southeast Asia this month as they did not feel confident in their ability to conclude satisfactory sales in the Chinese market. "We have managed to conclude some deals in Vietnam but are struggling to conclude deals in Indonesia," the trader commented.

A China based trader stated that they are looking to re-export some Thai LLDPE film to Southeast Asia. "The Chinese market is well supplied for now and we have heard that some other traders are enjoying good margins re-exporting material to Southeast Asia. We are hopeful that we will be able to conclude some deals in the Southeast Asian market, although we are still working on forming connections with Southeast Asian players for now," the trader stated.

A converter in Indonesia reported that they received an offer for Saudi Arabian LLDPE film on a reexport basis from China. "We are in no rush to purchase for now as we have enough material in stock to cover our needs until the middle of May. We plan to observe the market for a while longer before making any additional purchases," the buyer commented. A trader based in Vietnam said that they received an offer for Saudi Arabian LLDPE film from a bonded warehouse in Hong Kong.

MRC

(plastemart) -- FIAT has turned to lightweight, cost-competitive materials from Borealis and Borouge, leading providers of innovative, value creating plastics solutions, to achieve top-level aesthetics and performance for interior and exterior components on its new Fiat Panda. The Panda model is one of the original equipment manufacturers' (OEMs) key new platforms for 2012.

Borealis and Borouge's polypropylene (PP) automotive innovations combine a host of high-performance mechanical properties and processing advantages designed to ease production, and enhance the quality and surface finish of vehicle interiors and exteriors. In addition, the lightweight polyolefins offer vehicle weight savings when used to replace traditional parts materials, contributing to a reduction in fuel consumption.

Borealis has assisted the company's enhancement of performance and aesthetics of interior and exterior vehicle parts on models recognised for their safety and cutting-edge designs such as the Alfa Romeo Giulietta and Fiat 500.

For the new Fiat Panda, Tier One supplier Magneti Marelli successfully used high-performance Daplen thermoplastic olefin (TPO) compounds from Borealis to achieve consistent parts with the visual appeal and safety-related performance to meet FIAT's stringent quality requirements and technical specifications.
MRC

(4-traders) -- Malaysian oil and gas services provider Bumi Armada Bhd. (5210.KU) said Monday that its unit Bumi Armada Caspian has won a USD200 million engineering, procurement and commissioning contract from Russia's Lukoil for Filanovsky field development in the Caspian Sea.

The project is expected to run for 32 months and includes engineering of line pipes and installation of nine infield lines, Bumi Armada said in a statement.

The company said its order backlog has reached MYR1.8 billion in value.
MRC