Styron names new Executive Vice President and Chief Financial Officer

MIDLAND (Styron) -- Styron has announced three new members to the company's executive leadership. The announcement was made by Chris Pappas, President and Chief Executive Officer of Styron.

Richard J. Diemer Jr. has been named Executive Vice President and Chief Financial Officer of Styron. Diemer was previously the Senior Vice President and CFO of Albemarle Corporation, a $2.5 bln specialty chemical company. Celso Goncalves, who is currently CFO of Styron, will remain with the company through year-end to ensure a smooth transition.

MRC

(prw) -- Miko the Belgium-based plastics packaging and coffee service firm, says both operating and net profit fell 8% over the first half of the year because of rising raw material prices.

For the period ending 30 June, overall turnover rose 3.3% compared to the same period a year earlier to ┬60.75m. Turnover in the plastic packaging business rose only 1.2% as growth was dampened by a termination of contracts at the Grispa subsidiary in Belgium, and poor ice cream tub sales in Germany.

Overall operating profit fell 7.8% to ┬5.4m, while net profit was down 8.1% to ┬3.9m.

MRC

(prw) -- Kautex Maschinenbau, the Bonn-based maker of blow moulding equipment, is taking over international sales and service for the German company that builds giant blow moulders, Rikutec-Richter Kunststofftechnik.

In return, Rikutec will supply Kautex with multilayer accumulator heads, allowing Kautex to expand its portfolio of machines to blow mould large industrial packaging.

MRC

(prw) -- British Polythene Industries has revealed encouraging half year figures despite raw material price uncertainty. The company reported revenues increased to GBP 260.8m, up from GBP 231.4m in 2009. Profits before tax rose by more than 40% to GBP 13.1m.

⌠These are good results despite a price rise for materials, said chief executive John Langlands. ⌠We've seen a recovery in volumes and our restructuring is progressing well. As a result we're confident about the business.

MRC

(plastemart) -- A fire compelled Sinopec Corp. to shut a furnace at an 800,000 tpa ethylene plant at Qilu, East China. Shutdown duration is unknown. The accident was caused by an oil leak from a pipeline shut in No.7 furnace at Qilu in eastern Shandong province.

MRC