LANXESS targets EUR 1,4 bln EBITDA in 2015

LEVERKUSEN (LANXESS) -- LANXESS announced yesterday its goal to increase its leading earnings indicator by roughly 80 percent in the coming five years. The specialty chemicals company is targeting EBITDA pre exceptionals of approximately EUR 1.4 billion in 2015 and confirmed its forecast of roughly EUR 800 million EBITDA pre exceptionals in 2010. LANXESS plans to achieve its mid-term earnings target through a dual-track growth strategy of organic and external growth. Organic growth will play the more dominant role.

⌠We are poised to enter a new era of growth and have set an ambitious target, which we can achieve based on the strategic position of our business portfolio, said LANXESS CEO, Axel C. Heitmann, at the Group's fourth Media Day in Dusseldorf. ⌠Our track record reflects our operational strength. By the end of this year, we will have increased EBITDA pre exceptionals by roughly 80 percent since 2004, in spite of the global economic crisis.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC

(plastemart) -- In a bid to exploit rapid demand growth in China, Thailand's PTT Chemical is seeking an opportunity to invest in new chemical production in the country. The company, South East Asia's largest olefin maker views China as its largest export market, and wishes to join the ranks of the major global petrochem makers who have a presence in China.

However, PTT's investment plans will depend on market demand with a focus on the lifestyle of its biggest markets - Asean and China. The new criteria for investment will require the adaptation of human management as a novel way of thinking is needed to serve the new policy of the company. Its new investment strategy allows various options, from joint ventures, mergers and acquisitions to green field investment.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC

(INEOS) -- INEOS Group today confirmed the completion the sale of its global films business to Bilcare AG. The completion of the sale follows the announcement to sell the business, for the sum of ┬100 million, made on August 2nd, 2010.

The global films business which had 2009 annual sales of ┬240 million will now become a part of the Bilcare group, a leading international pharmaceutical packaging and research company.

INEOS Films division is a global producer of high quality polymer films built on expertise and innovation. As part of the Bilcare group it will continue to play a major role across international markets for pharmaceutical blister packaging, films for printing and decoration, shrink film for sleeves, capsules and plastic credit cards.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC

(Argus) -- Taiwanese private sector refiner Formosa Petrochemical has restarted 80,000 barrels per day residual desulphurization unit and raised operating rates at its 540,000 barrels per day Mailiao refinery after a week long disruption.

The increased output has done little to boost sentiment the Asian gasoil market that is already well supplied, exacerbated by poor arbitrage economics to Europe or the US.

Formosa restarted the residual desulphurization unit on September 9th 2010, while runs rates at two of its three 180,000 barrels per day capacity crude distillation units were raised to around 95%. The residual desulphurization unit was shut a week ago to allow Formosa to carry out further investigations and make design corrections at the refinery following a fire in late July 2010.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC

LONDON (ICIS) -- A planned six to seven week maintenance turnaround is underway at BP Refining & Petrochemicals' (BPRP) No 4 cracker at Gelsenkirchen, Germany, a company source said on Wednesday.

The cracker, which has the capacity to produce 525,000 tonnes/year of ethylene and 260,000 tonnes/year of propylene, according to ICIS data, is one of two owned and operated by BPRP at the site.

It had started to ramp down operations last week and was one of a number of other European crackers which were down for maintenance in the September-October time frame.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC