Lukoil lines up HK listing

(upstreamonline) -- Lukoil looks set to beat a path to a Far Eastern bourse as the Russian oil major reportedly lines up a listing in Hong Kong next year.

Shanghai may also appear on the oil producer’s radar although it is not planning on issuing any new shares, according to media reports. “We want to access a new class of investors,” the Financial Times quoted vice president Leonid Fedun as saying. “The world is changing. Asia is playing a greater role in politics and economy.”

The newspaper cited Fedun as saying no new shares would be issued in a planned secondary listing in Hong Kong in mid 2013. Instead the company would shift existing stock over to the Asian bourse which would be accessible through buybacks.

Reuters cited Fedun as saying Lukoil is in final negotiations with China International Capital Corp and Renaissance Capital to handle the deal, while Shanghai may become another option further down the line.

Lukoil has just unveiled an improved first-quarter result on the back of higher oil prices and increased gas production in Uzbekistan.

MRC

(plasteurope) -- Strengthening its presence in the thermoplastic composite materials and components market for automotive, oil and gas as well as consumer electronics, Royal TenCate Advanced Composites (Almelo / The Netherlands) in late May 2012 acquired Performance Materials Corporation Baycomp (PMC Baycomp, Burlington, Ontario / Canada). Financial details of the deal were not disclosed.

Under the terms of the deal, the former subsidiary of Performance Materials Corporation (Camarillo, California / USA) will become part of a new market group called TenCate Industrial Composites. The US arm of the new group will be headed by former PMC Baycomp president Thomas Smith, who will also oversee operations in Canada, China and Taiwan. TenCate Industrial Composites EMEA will become part of TenCate Advanced Composites EMEA, which is headed by Frank Meurs.

TenCate said its existing thermoplastic composites activities fully complemented those of PMC Baycomp, adding that it plans to focus its composites business on the space and aerospace markets in the future.
MRC

(engineeringnet) -- The Dutch Materials Sciences company DSM is going to invest about EUR100 million in three new R&D facilities in Delft and Sittard-Geleen (both in the Netherlands) over the next two years.

The investment in Delft concerns a new laboratory for biotechnological research as well as a DSM contribution to the recently formed consortium for the Bioprocess Pilot Facility (BPF) for bio-research.

In Sittard-Geleen a new materials sciences research building will be realized on the Chemelot Campus.

Maxime Verhagen, the Dutch Minister of Economic Affairs, Agriculture and Innovation, is excited about DSM investment’s: "This will strengthen the position of the Dutch knowledge-based economy and secure our position among the world leaders in sectors such as agro/food, chemicals and energy. Moreover, the investment will generate jobs and revenues in economically difficult times."

MRC

MOSCOW (MRC) -- In April, imports of PET granulate to Ukraine rose by 3,000 tonnes, which was up 26% compared to the March level and made about 14,000 tonnes, as per MRC analysts.

According to the market players, the increase in purchases of bottle PET resulted from seasonal factors and the growth of sales of PET performs in the domestic market. The expectations of further price hike of granulate also affected the purchases, on the back of the trend of rising prices of paraxylene and the components.

Chinese material dominated in the imports volumes. Ukrainian converters prefer the grade of PET CR-8816, produced by China Resources Chemicals. The total shipments of Chinese material in April grew twofold and made 5,200 tonnes.

The purchases of Pakistani PET and granulate from UAE reduced. The imports of Belarusian PET also decreased notably. In April, the traders delivered only 60 tonnes of PET by Mogilevkhimvolokno production. At the same time the supplies of the Germany's Invista (grade PolyShield 2300) tripled and exceeded 1,000 tonnes.

Over four months of 2012, the total imports of granulate made about 52,000 tonnes. This was up by 5,300 tonnes, or 11.4% more year on year.

MRC

(hydrocarbonprocessing) -- US production of major plastic resins totaled 6.1 billion pounds during April 2012, a decrease of 3.2% compared to the same month in 2011, according to new statistics released by the American Chemistry Council (ACC) trade group. Sales and captive use were down 8.8% from April 2011.

US production of major plastic resins totaled 6.1 billion pounds during April 2012, a decrease of 3.2% compared to the same month in 2011, according to new statistics released by the American Chemistry Council (ACC) trade group.

Year-to-date production was 25.3 billion pounds, a 1.5% increase compared to the same period in 2011.

Sales and captive (internal) use of major plastic resins totaled 5.8 billion pounds during April 2012, a decrease of 8.8% from the same month one year earlier.

Year-to-date sales and captive use was 24.4 billion pounds, a 2.1% decrease as compared to the same period in 2011, according to the ACC.

MRC