Braskem to build green ethylene plant

(plastemart) -- Braskem inaugurated today operations of its green ethylene plant, taking an important step forward in its strategy of becoming the global leader in sustainable chemicals. The ethylene was specified approximately 12 hours later, which means that it presents adequate conditions for conversion into green polyethylene (green plastic).

The plant is the largest industrial-scale operation in the world producing ethylene made from 100% renewable raw materials, i.e., sugarcane. The project was conceived and installed in less than two years, which proved extremely challenging and drew on Braskem's proprietary technology. Located at the Triunfo Petrochemical Complex in the state of Rio Grande do Sul, the plant will produce 200,000 tons of green ethylene, which will be transformed into an equivalent volume of green plastic. The plant will be officially inaugurated on Sept. 24.

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(PlasticsToday) -- W. R. Grace & Co. is buying Sythetech Inc. for $19.2 million, augmenting its capacity for specialty single-site and polypropylene (PP) catalysts. Synthetech, which is a manufacturer of chemicals that specializes in organic synthesis, biocatalysis, and chiral technologies, also has some business in the pharmaceutical sector. Greg Poling, VP W. R. Grace & Co. and president of Grace Davison said in a release that the acquisition gives the company immediate production capacity for specialty single-site and PP catalysts, "significantly enhancing our ability to supply our large global customers with these specialized catalysts", while eliminating the need for a grass-roots facility.

Synthetech's products will join Grace's line of PP and polyethylene (PE) catalysts, which include Polytrak, Sylopol, and Magnapore. Grace recently announced a multi-year agreement to supply PP catalysts to polyolefins giant Borealis AG. The previously announced expansion of Grace's PP catalyst manufacturing capacity at its Worms, Germany facility is expected to be in operation in mid-2011.

The transaction has been approved by both companies' boards, but is subject to Synthetech shareholder approval and clearance from the U.S. Bankruptcy Court. Grace anticipates that the transaction will be completed during the fourth quarter. Synthetech, which has 63 employees, operates its primary facility out of Albany, OR. That operation includes production and R&D., while a second location in San Diego is dedicated to R&D. It will be integrated into Grace Davison's Specialty Technologies business. On June 28, Synthetech announced that it had hired Brocair Partners LLC to conduct a strategic review of its business.

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(OfficialWire) -- Petkim's operating rates are likely to rise to maximum capacity in 2010 from 90% in 2009. By the end of 2009, Petkim was is a strong position, with its market share rising from 22% pre-recession to 30% during the economic crisis. Although the Turkish petrochemicals industry has coped with the recession relatively well, risks remain, namely rising crude prices and potential over-valuation of the Turkish lira.

Nevertheless, Petkim is investing US$60mn in cost-reducing projects in 2010 in the drive to improve efficiency and long-term profitability. Turkish plastics production capacity reached around 5.6mn tpa in 2008 and was forecast to reach 6.5mn tpa in 2009, 11.3mn tpa in 2013 and 13mn tpa by 2014. Turkey has risen one place to fifth place in BMI's Central and Eastern Europe Petrochemicals Business Environment Ratings this quarter, with its score rising 0.2 points to 46.8 points due to an improvement in its country risk rating amid a pick-up in the economy. This puts it 0.1 point ahead of Slovakia. Turkey's strength lies in the improvements in market risks, particularly following Petkim's privatisation in 2008, but this has been partly offset by a decline in its country risk score amid economic recession and deteriorating indicators. Foreign investment is being encouraged into downstream sectors in order to bolster the country's industrialisation.

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(prw) -- Formula Plastics, a County Durham-based injection moulding firm has seen its business bounce back after a difficult time at the hands of the downturn in the automotive industry.

The Newton Aycliffe company, which manufactures a range of components for the automotive sector, achieved growth of 20% in the last year and has seen its turnover return to its pre-downturn figure of GBP 1.5m.

As a result of this upturn in fortunes Formula Plastics will be recruiting a sales manager to boost its sales operations, investing in new equipment and diversifying into new markets, as well as taking advantage of a growing number of opportunities in its core operational area.

To help make all this happen, the company has secured a GBP 100,000 investment from the Growth Fund managed by regional fund management firm NEL Fund Managers as part of the Finance for Business North East Fund initiative.

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(TimesLeader) -- Borough officials on Tuesday acknowledged that work will be needed in the next three months to resolve an almost $80,000 shortfall in the 2011 budget.

Between now and the December deadline for budget approval, council will have to cut spending, find alternate revenue sources or create some combination of both to deal with the problem, officials said.

A meeting with the NEPA Alliance, called in to help the borough develop ways to deal with a persistent $30,000 budget shortfall, is only at the review stage, council President Stanley Knick said after the meeting.

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