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(Recycling Today) -- MRC Polymers, a Chicago-based plastics recycling company, has launched a new division known as Recycling Solutions. The new division seeks to help companies derive the highest value possible from their scrap.
The company will seek rigid plastics generated at industrial manufacturing plants, particularly those within the automotive industry.
Paul Binks, MRC Polymers CEO, says the company recovers post-consumer bumpers, which it grinds, washes and compounds into pellets using a proprietary process. The pellets are then used to manufacture new bumpers, he adds.
MRC's polymer compounds are high quality, engineering grade, cost-competitive alternatives to virgin resins.
MRC Polymers reclaims various grade thermoplastics from post-consumer plastic scrap (like car bumpers, large water bottles, advertisement sheets, etc.) and post-industrial plastic waste (such as CDs, DVD covers, etc.) and manufactures engineering-grade and commodity thermoplastic compounds.
MRC Polymers offers a full range of custom compound products and engineering plastic, among which are: PC/ABS (polycarbonate acrylonitrile butadiene styrene), PC/PBT (polycarbonate polybutylene terephthalate), PC/PET (polycarbonate polyethylene terephthalate),PET (polyethylene terephthalate).
MRC
MRC Polymers launches a new devision
CB&I to buy engineering major Shaw Group
(hydrocarbonprocessing) -- CB&I has agreed to acquire Shaw Group, a US-based engineering company primarily focused on serving clients in the power generation and government services sector, officials with both firms said Monday.
The acquisition is expected to close in early 2013. Reports valued the overall deal at approximately USD3 billion.
CB&I said that combining the two companies will create “one of the most complete energy focused technology, engineering, procurement, fabrication, construction, maintenance, and associated services companies in the world”.
With a global workforce of nearly 50,000 employees, backlog of over USD28 billion, and engineering and fabrication facilities strategically located on all continents, the company will have the capacity to execute large energy infrastructure projects now and in the future, according to company officials.
“This is a highly compelling transaction that we believe will create significant value for our shareholders,” said Philip K. Asherman, president and CEO of CB&I.
CB&I plans to operate Shaw as a business sector under the brand name CB&I Shaw, the company said, enabling the new company to retain Shaw’s brand equity, particularly in the power industry.
MRC
BP posts second quarter loss
(upstreamonline) -- BP posted a loss during the second quarter of the year as impairements, weaker commodity prices and lower output hit the UK supermajor’s bottom line.
BP posted a net loss of nearly USD1.4 billion for the second quarter of the year, down from a profit of more than USD5.7 billion during the same period a year ago.
Dragging down the second quarter result was impairment losses of nearly USD4.8 billion which BP said was related mainly to certain refineries, US shale gas assets and the decision to suspend the Liberty project in Alaska.
Underlying replacement cost profit for the period, which is adjusted for non-operating items and fair value accounting effects, totaled USD3.7 billion which was still well below the USD5.7 billion booked a year earlier.
Dragging down underlying profits was a dip in revenue with the company generating USD94.9 billion during the three months to 30 June, down from USD103.9 billion during the second quarter of 2011.
MRC
KraussMaffei launches new GX series
At Fakuma, the focal point of the presentation will be a thermoplastic lightweight application in CellForm technology (MuCell) for the automotive industry.
Two months after the world premiere and market launch of the GX series, KraussMaffei is very satisfied with the response by customers. In particular, customers from the electrical engineering/electronics industry, the consumer goods industry, the packaging industry and primarily the automotive industry have reacted very positively to the new GX series since it is ideally suited with its extensive range of options as a basis for many different injection molding processes.
KraussMaffei is one of the world's leading manufactures of machinery for processing plastics and the only company supplying machinery covering three key technologies for the international plastics and rubber processing industries.MRC
Prices of PP in Asia still go down
MOSCOW (MRC) -- Despite the growth of oil quotations the low demand for polypropylene in Asia continues to bear the price quotations, according to MRC analysts.
Asian market of polypropylene echoes the situation in the polyethylene market. Local converters are rather cautious in their purchases on the slowdown of economy in China. Asian and Middle Eastern producers have tried to raise their price quotations for August on rising cost of propylene in the region. Customers in China and Southeast Asia have instantly reduced demand.
There are two opinions in the market. Some market participants expect that the demand for polypropylene to grow in August and September, when converters begin to build up capacity utilization to prepare for the winter season. Part of the market participants do not expect significant growth in demand due to the weak global economic outlook. There are also concerns about slowing demand for cars in China because of the high price of gasoline.
Price quotations of propylene last week fell by USD25-30/tonne. Prices of homopolymer of propylene were reduced on average by USD10-20/tonne and were at USD1,320 – 1,370/tonne, CFR.
MRC