Slovnaft unit may invest millions in building petrochemical plant

(Bloomberg) -- Slovnaft AS, the Slovak unit of Hungarian refiner Mol Nyrt., may invest several hundred million euros in building a new petrochemical plant for products with higher added value.

A decision will be made by Mol executives in the coming months, Slovnaft Chief Executive Office Oszkar Vilagi said in an interview on Oct. 14.

Slovnaft, the third-biggest non-financial company, is seeking to refocus on more ⌠sophisticated chemicals to make it less dependent on fluctuations in the economy, whose recent slowdown cut demand for fuel, Vilagi said.

Petrochemicals such as polyethylene accounted for about one-fifth of Slovnaft's first- half sales of 1.22 billion euros ($1.7 billion), with the rest stemming from refinery products.

Over the past three years, Slovnaft has already spent 40 million euros to boost the capacity of its ethylene unit and make production more energy efficient.

MRC

(Plastics Today) -- A. Schulman Inc. (Akron, OH) has acquired Brazilian masterbatch additive producer and engineered plastics compounder Mash Compostos Plasticos (Sao Paulo), calling the South American country "a key market" in its overall growth strategy.

Joseph M. Gingo, A. Schulman chairman, president, and CEO, noted the growth potential of the market based on its relatively low per capita consumption of plastic. Compared to per capita plastics consumption of around 130 kg in the U.S., Brazil's resin consumption amounts to 27 kg. ICO in Brazil targeted rotational molding with crosslinked PE foam, PE, and PP, and offices in Sao Paulo, Bahia, and Minas Gerais.

Mash Compostos Plasticos founded in 2004 creates compounds based on PP, ABS, PC, PPS, and POM, among others, with additive packages for flame retardancy, antioxidants, antitstatic, and UV absorption.

MRC

(China Plastic & Rubber Journal) -- The Dyna-Purge Division of Shuman Plastics (USA), a supplier of raw materials, resins, compounds and regrinds, will launch the new Dyna-Purge K.

New and improved Dyna-Purge K offers a brighter, more powerful clean, guaranteed to lower processors' purging costs. It is well suited for purging low temperature resins ranging from 143C to 287C, including PP, PE, EVA, TPO's and TPE's.

Dyna-Purge K is a non-melting but softening thermoplastic that scrubs, while a proprietary additive expands, removing contamination without leaving behind a residue.

MRC

(Plastics Today) -- Toray Plastics (America) Inc., a manufacturer of precision-performance polyester and polypropylene films, will be introducing its new Ecodear advanced compostable bio-based films. Ecodear is made with polylactic acid resin. The new, thin bi-axially-oriented Ecodear films include a metallized heat-sealable film that provides moisture and oxygen barrier protection and a clear film for use as an inner seal layer or a printweb.

Toray has been researching and developing bio-based films since 2007. "Interest in compostable films made from renewable resources continues to grow," says Franco Chicarella, Product Development Manager, Torayfan Polypropylene Film Division.

Toray Plastics Inc. manufactures polyester and polypropylene films for flexible and rigid packaging, lidding, graphic, industrial, optical, and electronic applications. The company is a subsidiary of Toray Industries Inc.

MRC

(Plastics News) -- Saudi Basic Industries Corp. is considering restructuring the loans held by its Sabic Innovative Plastics unit due to changes in global borrowing.

⌠The environment for restructuring the loan within Sabic IP is reasonable now, claimed Sabic vice-chairman and CEO Mohamed al-Mady. ⌠We will start the process, and if we find we are getting a good deal, we will conclude. Otherwise, we are not in a hurry to finalize.

The Riyadh-based company reported third quarter profits of $1.4 billion, a jump of 46 percent, which Sabic says is the result of higher prices and increased demand as well as ⌠improvements in the performance of overseas affiliates, according to a statement.

Al-Mady praised the efforts of all employees, which he said had contributed to continued improvements of performance, rationalization of expenses and the increase of production capacity. All of which will have a positive effect on future corporate results, he added.

MRC