Umeco creates a JV to produce vacuum bagging films in China

(PlastEurope) -- The processed materials business of composites specialist Umeco has entered a joint venture with its Chinese distributor Shanghai Leadgo Technology to establish a facility in Shanghai to manufacture vacuum bagging films for the rapidly growing Chinese wind energy market. Both companies are investing around RMB 28m (EUR 3.1m) in the jv.

The new facility is expected to be fully operational by the end of 2011. The jv, Shanghai Umeco Composite, will be 51% owned by Umeco, with Leadgo having a 49% stake. Umeco currently manufactures the films supplied to Leadgo for the Chinese market at its Industria Plastica Monregalese (IPM) facility in Mondovi / Italy. The British company expects that the global growth in the wind energy market will allow IPM to back-fill its production capacity once production for the Chinese market moves to Shanghai Umeco Composite's plant.

MRC

VIENNA (Borealis) -- Borealis, a leading provider of chemical and innovative plastics solutions, announces the appointment of James McCummiskey as Senior Vice President Operations, effective October 1.

He succeeds Philippe Roodhooft who has taken over the role of Senior Vice President Product Management & Supply Chain.

James McCummiskey joins Borealis from Ciba Inc. where he was most recently a member of Ciba's Group Executive Committee until the company's takeover by BASF. He began his career in 1973 at Ciba Inc. in Paisley, Scotland where he held several key positions within the manufacturing and engineering discipline, before becoming Head of the Global Business Unit Classical Pigments in 1996. Five years later, he took over the role of Managing Director at Ciba's largest single site chemical plant in Bradford as well as Grimsby, UK, where he later assumed the global business responsibility as Head Business Line Water. During this period he also successfully completed a number of special assignments to turn round difficult operational issues on other Ciba sites as well as fulfilling board memberships of JV's in Korea, China and India. In 2007, he was appointed Executive Vice President Ciba Inc. as Head of the Water and Paper Treatment Segment, based in Basle, Switzerland. James McCummiskey is a Scottish citizen and has Full Technical, Ordinary National and Higher National Certificates in Engineering from the City and Guilds of London Institute.

Borealis" Executive in CIS Roman Romanov is going to participate in Russian Polymers Summit on October 14, 2010, organized by ICIS and MRC. For more information please refer to http://www.icisconference.com/russianpolymers/ Summit official web page

MRC

LONDON (ICIS) -- BP will create a new division to strengthen safety and risk management across the group, following the Deepwater Horizon oil spill disaster in the Gulf of Mexico, the energy major said on Wednesday.

The Safety & Operational Risk function, brought in by the incoming chief executive Bob Dudley, would have sweeping powers to oversee and audit BP's global operations and intervene in all aspects of its technical activities, it added.

The new organisation was one of a number of changes announced by Dudley as he prepared to take over his new role on 1 October.

Tony Hayward stepped down as CEO following BP's investigation into the Macondo well incident in April which led to the explosion and fire that killed 11 people and caused widespread pollution.

MRC

(tsm) -- In China Tianjin Port Group is looking to begin trial operations of its new 350 million yuan (┬38.4 million) petrochemical terminal project by the end of 2010.

The petrochemical terminal project will be mainly used for SinoChem's new storage project in Tianjin Port, which will have a storage capacity of 950,000m3.

The terminal has a quay length of 509m with a 50,000-tonne and a 10,000-tonne liquid bulk cargo berth. The terminal's installed capacity is expected to exceed 5 million tonnes a year.

MRC

(Reuters) -- Investor Len Blavatnik and his company Access Industries have refuted claims that he was aware of a US$12 bln leveraged buyout in 2007 that created LyondellBasell would fail. They claim that they had every reason to believe the merger between Basell and Lyondell would succeed. Blavatnik had led the merger in 2007 to create the world's third largest petrochemicals maker, by crafting a leveraged buyout of Lyondell through Basell, which his company acquired in 2005.

A trustee acting on behalf of Lyondell's creditors sued Blavatnik, Access and other executives and advisors responsible for putting together the deal, claiming they set the company up to fail by leaving it with too much debt and unreasonably small capital.

MRC