Berlin Packaging acquires Lerman Container

(emballagedigest) -- Berlin Packaging, a leading full-service supplier of plastic, glass, and metal containers and closures, announced the acquisition of Connecticut-based Lerman Container in a transaction that expands the company's geographic coverage and team of packaging solution experts. It marks Berlin Packaging's third strategic acquisition since 2010, when the company acquired Pittsburgh-based All-Pak and Chicago-based Continental Packaging Solutions.

The combined company will have 2012 revenues exceeding USD700 million, over 110 packaging consultants, and more than 80 sales offices and warehouse locations across North America.

Established in 1979, Lerman is a packaging distributor with marquee customers across multiple vertical markets. The acquisition: - Augments Berlin Packaging's presence in the Northeast by adding Lerman sales and customer service staff in Connecticut and New Jersey, providing easier access to innovative, cost-effective packaging solutions for Berlin Packaging customers in those markets.
MRC

Formosa eyes new olefins cracker in Texas

(hydracarbonprocessing) -- Formosa Plastics will build a new, grass-roots 800,000 tpy olefins cracker, an associated 600,000 tpy propane dehydrogenation (PDH) unit and a new 300,000 tpy low density polyethylene (LDPE) resin plant at its site in Point Comfort, Texas, the company said on Monday.

The moves - part of USD1.7 billion in capital investments - are largely based on affordable US natural gas costs for use as feedstock, the company said.

They will create an estimated 1,800 construction jobs and, once completed, an additional 225 long-term operating and maintenance jobs.

The olefins cracker will take advantage of the increasingly reliable and low-cost domestic natural gas and supply feedstock both to existing production units and the new LDPE unit, Formosa said.

The PDH unit will produce additional propylene, increasing operational flexibility.

Meanwhile, the addition of a LDPE resin plant will complement the company's existing product line of Formolene polyethylene (PE) and polypropylene (PP) and Formolon polyvinyl chloride (PVC) and specialty PVC.

Details on the units specific technologies, costs, start-up dates and contractors are not being released, according to the company.

MRC

Evonik owners to go head with IPO preparations

(Reuters) - German chemicals and real estate conglomerate Evonik may have to reconsider the timing of a possible initial public offering (IPO), its majority owner said on Monday.

The RAG Foundation, which has never officially committed to a timetable for floating Evonik, cautioned it would monitor possible risks to an IPO. But it said it continues to support the idea of flotation.

Sources have said the RAG Foundation, which owns 75 percent of Evonik, would publish an intention to float on Friday if it decides to go ahead with an IPO. The shares could then be listed on June 25.
MRC

In April Russian PP production increased

MOSCOW (MRC) -- In April, the total production of polypropylene (PP) exceeded 53,000 tonnes. Stavrolen showed serious growth in production, according to MRC analysts.



Last month, the total volume of PP production in Russia exceeded 53,000 tonnes, with an increase of 600 tonnes compared to March level. April was successful for Stavrolen (Lukoil Group). The company was able to increase the capacity utilization to 75%, the total production of polypropylene made more than 8,000 tonnes.


Neftekhimiya (Kapotnya) significantly reduced the volume of PP production last month. The company cut production volumes by more than 2,000 tonnes. Other production sites also decreased the production volumes, but not so sigificantly.


The deficit in the market of raffia resulted in a serious correction of the production programs. Russian producers increased the production of raffia almost by one and half by reducing the output of injection moulding PP-homo. In April, production volumes of copolymers of propylene remained at the March level.


mrcplast.com

DSM commences tender offer for Kensey Nash

(Reuters) -- Royal DSM, the global Life Sciences and Materials Sciences company, announced that its indirect wholly-owned subsidiary, Biomedical Acquisition Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of Kensey Nash.

The Kensey Nash board of directors has unanimously determined that, among other things, the offer is fair to and in the best interests of Kensey Nash's stockholders and unanimously recommends that Kensey Nash's stockholders accept the offer and tender their shares.

The tender offer is scheduled to expire at 12:00 midnight at the end of Monday, 18 June 2012, unless the offer is extended.

Complete terms and conditions of the tender offer are set forth in the Offer to Purchase, Letter of Transmittal and other related materials that will be filed by DSM and Biomedical Acquisition Corporation on 21 May 2012.

Kensey Nash is a medical device company primarily focused on regenerative medicine utilizing its proprietary collagen and synthetic polymer technology. The company is recognized as a leader for innovative product development and unique technology in the field of resorbable biomaterials. The company has an extensive range of products, which are sold through strategic partners in multiple medical markets, including the cardiology, orthopedic, sports medicine, spine, trauma, craniomaxillofacial and general surgery markets.
MRC