Evonik establishes JV in South Africa

(evonik) -- Evonik Industries established a joint venture, Evonik Acrylics Africa (EAA), with the South African plastics processor Ampaglas Plastics Group for extrusion of PLEXIGLAS sheet products. The new company is headquartered in Elandsfontein, Johannesburg.

The goal of the joint venture, in which Evonik holds a 51 percent stake, is the production of high-quality PLEXIGLAS sheeting and its marketing, particularly in the growth markets of the African continent. The focus here lies on the building and architecture market segments, the design-oriented lighting technologies segment, and furniture, shopfitting, and exhibition booth construction.

"The new company combines the advantages of both its parents: production of innovative products by high international quality standards, coupled with high flexibility and short response times as a result of local production," says Michael Traxler, head of Evonik's Acrylic Polymers Business Line. Evonik ensures a continuous supply of raw materials from its production sites for molding compounds in Germany, China, and the U.S.
MRC

(canplastics) -- Despite the odd bump, some of the major global chemical suppliers are reporting promising starts to 2012.

LyondellBasell's net income for the first quarter dropped 9.2% year on year to USD599 million on weak European and Asian sales of olefins and polymers (O&P), the company said in a press release.

But O&P earnings in the Americas were up 23.6% year on year at USD598 million and up strongly on the USD407 million reported for the 2011 fourth quarter.

BASF is also reporting a solid start to 2012. According to the company, first quarter 2012 sales rose 6% to 20.6 billion euro, but income before special items decreased to 2.5 billion euro, down 7% compared to the same period in 2011.

In the company's plastics segment, sales were slightly reduced compared with the first quarter of 2011. ⌠Higher prices and currency effects made a positive contribution to sales development; sales volumes were weaker. Lower margins led to a significant decline in earnings, the Germany-based company said in a press release.
MRC

(balkans) -- Romania will privatize chemical producer Oltchim Ramnicu Valcea in September and resume the sale of copper producer Cupru Min, the country's economy minister-designate, Daniel Chitoiu, told IMF and European Commission officials.

Chitoiu said Cupru Min is to be reevaluated and requires an environmental permit before the auction to sell it can be resumed.

Roman Copper won an auction to buy 100% in Cupru Min for EUR200.77m. The purchase contract was due for signing on April 6, but the Romanian government said the deal was cancelled because the two parties could not reach a satisfying agreement on the terms of the deal.

Chitoiu also said Oltchim is to have private management by June and will be privatized by end-September this year. Under its agreement with the IMF, EC, and World Bank, Romania was supposed to sell off Oltchim and Cupru Min by the end of April.

MRC

(plasteurope) -- Arsenal Capital Partners (New York / USA) has announced plans to acquire pigments and dispersions supplier Plasticolors (Ashtabula, Ohio / USA) and merge it with Evonik Industries' (Essen / Germany) Colortrend global colourants business. Arsenal completed the purchase of Colortrend last month.

Plasticolors and Colortrend will be merged to create a new company, Chromaflo Technologies (Ashtabula), which Arsenal said will be the world's largest independent global pigment dispersion platform.

Chromaflo Technologies will have production facilities in the USA, Canada, The Netherlands and Australia, plus sales and technical operations in North and South America, Europe, Australia, China, Malaysia and India.

MRC