Copol International to install a new PP line

(Canadian Plastics) -- Copol International Ltd. is in the process of commissioning a brand-new five-layer, Filmex cast PP line from Windmoeller & Hoelscher. The company has a variety of different CPP film structures, from three single-layer lines to one three-layer line. The addition of the new W&H line will expand Copol’s film gauge range from 0.7 mil up to 6 mil and facilitate the eventual production of CPP with up to nine layers, allowing the company to offer more to its current customers and pursue some new ones.

Copol International Ltd is a manufacture of highly customized cast polypropylene (CPP) film. Since its start-up date 20 years ago, when it took over a 90,000-square-foot plant that had been producing PVC stretch film, Copol has slowly grown into a major presence in the North American CPP industry, currently providing customized mono- and multi-layer films for food and textile packaging, industrial applications and heath care products for customers across North America.
MRC

(Elasto) -- Elasto Muller Kunststoffe plans to install a new line at the group’s site in Lichtenfels, Germany, which is expected to come on-stream in early 2013 and will increase thermoplastic elastomers (TPE) production by 4,600 tonnes per annum, bringing the capacity of the Group to more than 55,000 tonnes.

The capacity increase underscores Elasto Muller Kunststoffe’s position as a key and growing player in the TPE market. Construction of a new TPE production line is also underway in China. The new production facility will operate from Hexpol’s existing Foshan site in the Guangzhou area, a key location for polymer component manufacturing.

Elasto Muller Kunststoffe supports the thermoplastic elastomer (TPE) market with a sophisticated and innovative product range developed by highly qualified material experts. The company's products combine the performance of thermoset rubbers with the processing ease of plastics to deliver enhanced design possibilities to a diverse range of markets, including automotive, medical, caps and closures, construction, toy and household. ELASTO is part of the compounding business area of HEXPOL, one of the world's leading polymer groups.
MRC

(Plastemart) -- The board of directors of Israel Petrochemical Enterprises Ltd has approved the sale of a 45% stake in its Avgol Ltd subsidiary to London-based private equity company Ethemba for USD106.8 million. An additional payment of USD16 million has been agreed to by the parties dependent on 2013 results.

Following the sale IPE will control 21% and the remainder is traded on the Tel Aviv Stock Exchange.

Israel Petrochemical Enterprises Ltd. (IPE) is a public holding company whose shares are listed on the Tel Aviv Stock Exchange. Avgol is a global leader in the nonwoven fabrics industry with manufacturing facilities in Israel, China, Europe and the US. Avgol manufactures and supplies nonwoven fabrics mainly for hygiene applications, such as diapers for infants and adults, feminine hygiene products and more.
MRC

(Reuters) - Russia's No.2 oil producer LUKOIL shed more than two thirds of second-quarter net profit compared with last year and undershot forecasts, hit by lower oil prices, a weaker rouble and a bigger tax bill.

Net profit was just over USD1 billion (631 million pounds), against the average of analysts' forecasts of USD2.34 billion.

However, LUKOIL performed better than peer Rosneft, which posted a surprise second-quarter loss this month, thanks to high exposure to refining which benefited from a lower export duty and high margins.

The company said current profit tax jumped to USD1.1 billion in April-June 2012 from $649 million a year earlier following a tax rate increase as the government replenishes its coffers after an election-related spending spree.

Russian crude producers have been complaining over a high tax rate, set by the state, where oil and gas revenues accounts for a half of state budget proceeds.

LUKOIL has suffered from crude production decline due to depletion of West Siberia deposits, while its new South-Khylchuyu field disappointed with a double-digit output decline, attributed by the company to wrong geological assessments.
MRC

(Reuters) – Most oil and gas companies in the U.S. Gulf Coast region on Thursday prepared to gradually restart installations there following Hurricane Isaac, while one refinery reported flooding and scrambled to prevent further damage. Isaac, now a much weaker tropical depression moving north, posed no further threat to most energy infrastructure.

Phillips 66 said its 247,000 barrel per day (bpd) Alliance refinery in Belle Chasse, Louisiana, had been partially flooded. It offered no estimate on when the plant could restart and said personnel were trying to prevent damage by pumping water out.

Royal Dutch Shell and Anadarko were among companies that said they could begin restarting idled offshore production platforms as early as Friday.

Shell said late Thursday it restarted the Capline pipeline, which carries crude between Louisiana and refiners as far north as Illinois.

Most regional refineries appeared unscathed by Isaac. Independent refiner Valero said it detected no structural damage at two Louisiana plants it operates. It was unclear when they would restart.
MRC