Finacity facilitates a $25 million funding program for INEOS NOVA

(Marketwire) -- Finacity Corporation announced that it facilitated a cross-border trade receivable funding program for INEOS NOVA, LLC.

INEOS NOVA headquartered in Channahon, Illinois is a world-scale, globally competitive producer of styrene, polystyrene and expandable polystyrene.

Finacity Corporation specializes in the structuring and provision of efficient capital markets receivables funding programs, state-of-the-art servicing, and bond administration. Finacity is located in the USA and Europe.

MRC

(Plastics News) -- Three major resin suppliers -- LyondellBasell , Styron LLC and Braskem America Inc. -- have joined the American Chemistry Council's plastics division.

Styron's Bob Patel (senior vice president, olefins & polyolefins), Braskem's Mark Nikolich (vice president - commercial), and LyondellBasell's Paul Moyer (vice president and general manager, plastics) have been appointed to serve on the division's operating committee.

Steve Russell, vice president of Washington-based ACC's plastics division, said in a news release that the addition of the three companies strengthens the unified voice of the plastic resin supplier industry.

The Plastics Division of the American Chemistry Council (ACC) represents leading manufacturers of plastic resins who advocate unlimited opportunities for plastics and promote their economic, environmental and societal benefits.

MRC

(Plastics News) -- Sabic (Saudi Basic Industries Corp.) has placed sustainability at the center of its development efforts. At K 2010, the firm offered several new sustainable products, including grades of Noryl-brand PPO/PPE, Cycoloy-brand polycarbonate/ABS and Lexan-brand PC resins that contain post-consumer recycled content.

⌠We are stressing that growth must be sustainable, Sabic chief operating officer Mohamed Al-Mady said at the event. ⌠We're looking at recyclability, weight out and fuel efficiency, as well as reducing carbon footprint, water usage and power usage.

In addition to opening the massive, new Saudi Kayaan PC plant in Al-Jubail, Saudi Arabia early next year, Al-Mady said that Sabic ⌠is contemplating the addition of PC to a petrochemicals site it operates in China through a joint venture with Sinopec.

MRC

(Plastics News) -- America's Mountain Valley Recycling LLC may open a plastics recycling plant in a former Ford Motor Co. plant in Sterling Heights, creating 396 jobs.

The company is investing $29.5 million in the project, according to the Michigan Economic Growth Authority, which agreed Oct. 26 to provide a state tax credit of $5.1 million over seven years for the operation.

Mountain Valley President and CEO Ronald Whaley said the company's basic model is to ⌠take plastic waste from retailers and other companies that generate a lot of waste, and create a sustainable resin generation process we can sell to other companies.

MRC

(Plastemart) -- Ceresana Research expects to see continuous growth at an average rate of 2.3% pa until 2017. Revenue from plastic closures in Europe will consequently increase from ┬1.7 bln to more than ┬2 bln pa. The selection of caps and closures is not usually straightforward, and new varieties of push-pull, twist-top, snip-tip, toggle-swing are constantly being developed.

Although inexpensive and standard products are being applied in many sectors, the trend towards more complex closure systems remains unbroken.

Synthetic wine corks, spray pumps, caps for deodorant rollers, caps for tubes, and other closures are typically only small parts, but are altogether a noticeable growth market: More than 200 billion plastic closures were sold throughout Europe in the past year, 60 bln more than at the start of the decade.

Polypropylene and polyethylene are being used increasingly for closures. Significant growth can especially be seen in certain sub-segments of the beverage sector, such as beer, yogurt, milk products, and sports drinks.

Production and consumption of plastic caps and closures is seeing the strongest growth in Russia, Poland, and Turkey. Manufacturers in Eastern Europe are investing above all in mass production of standardized products, such as screw-caps for PET bottles. In contrast, producers in Western Europe are concentrating, for example, on complex closures systems with seals and built-in dosing devices for medications.

MRC