Idemitsu Kosan creates a JV with Mitsui Chemicals

(plastemart) -- As planned in April, Japanese oil refiner Idemitsu Kosan Co and petrochemical maker Mitsui Chemicals Inc will combine operations of their two naphtha crackers on the first day of October, marking the start of their 50-50 joint venture.


Combining of the two crackers at the same complex in Chiba will lead to total production capacity of 920,000 tpa of ethylene.

MRC

Renault awards a major contract to LG Chem

(KoreaTimes) -- LG Chem said Thursday that it has signed an agreement with Renault to supply lithium batteries for the French auto manufacturer's upcoming electric vehicles, which the company said will be its biggest deal in the battery business.

Under a multi-year contract, the LG Group's chemical component-making affiliate will ship the batteries for Renault's EVs, which are expected to be marketed from mid-2011.

"Considering the expected production volume of Renault's EVs, the latest deal will be the largest that LG Chem has inked with automakers so far," said Song Choong-sup, a senior company spokesman.

LG Chem's Executive in Russia James Han 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

Record HDPE production doesn't save the Russian market from shortage

MOSCOW (MRC) -- Russian manufacturers produced the record 85 kt of HDPE in August - according to MRC analysts.

HDPE production amounted to 63,56 kt due to technical problems with ethylene capacities in Salavat and Budennovsk. In August, Russian producers faced no trouble with HDPE production, which let them produce the record volumes of about 85 kt. Salavatnefteorgsyntez also produced the record 4 kt last month.

Despite the record production, Russian HDPE market faced serious shortage in late September. Russian polyethylene market experienced hard times in mid-September, when Kazanorgsyntez was shut down for maintenance, and Nizhnekamskneftehim switched to LLDPE production.

The improvement of the situation in the HDPE market should be expected no earlier than in H2 October, when polyethylene production is going to be resumed in Kazan and Nizhnekamsk.

Russian polymers market outlooks will be discussed at 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

More information about polyethylene market in Russia is available in MRC Monthly reports.

Lanxess announces three management changes

(PlastEurope) -- German speciality chemicals manufacturer Lanxess has announced several management changes at its Basic Chemicals (BAC), Semi-Crystalline (SCP) and Exchange Resins (ION) business units.

Hans-Georg Schmitt will be retiring as head of BAC on 1 January 2011. His position will be filled by Hubert Fink who currently heads SCP. Lanxess has named Michael Zobel the new SCP head effective 15 October, at which point Jean-Marc Vesselle will take over Zobel's position at the helm of ION.

MRC

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