PET imports to Kazakhstan rose by 5%

MOSCOW (MRC) -- Imports of polyethylene terephthalate (PET) into Kazakhstan in January-October 2013 increased by 5% year on year, according to ICIS-MRC Price report.


The overall PET imports totalled 46,500 tonnes in the first ten months of the year.

Chinese material accounted for 75% of the total consumption of PET chips. The overall PET imports from China to Kazakhstan almost reached 35,000 tonnes in January-October, 2013.

Imports of Korean PET amounted to more than 11,000 tonnes in January-October.


The overall PET imports to Kazakhstan totalled 52,700 tonnes in 2012. Converters and bottlers' needs are fully met by imports, because Kazakhstan has no domestic production of PET chips.

MRC

EPS output in Russia rose by 35% in January-October 2013

MOSCOW (MRC) -- Production of expandable polystyrene (EPS) in Russia in January-October 2013 increased by 35% year on year and totalled 95,500 tonnes, according to MRC ScanPlast.

SIBUR-Khimprom and Angarsk Polymer Plant raised their capacity utilisation by 47% and 6%, respectively, this year, whereas Plastik (Uzlovaya) reduced its output by 10%.

SIBUR-Khimprom is the largest EPS producer in Russia. The plant has accounted for nearly 82% of the total EPS production in Russia since early 2013.

October EPS production in Russia grew by 2,200 tonnes from September and reached 10,400 tonnes. This figure was achieved by increased capacity utilisation at all three Russian plants.
The increased production of Russian EPS resulted in displacement of imported EPS from the domestic market. Thus, EPS imports into Russia dropped by 17% in January-October 2013 to about 60,000 tonnes.

MRC

SPVC imports to Kazakhstan increased by 18% in the first ten months of the year

MOSCOW (MRC) - Imports of suspension polyvinyl chloride (SPVC) to Kazakhstan increased by 18% in the first ten months of the year, according to MRC DataScope.

Imports volumes of SPVC to Kazakhstan has soared in October.External shipments increased to 3,800 tonnes in October, from 2,900 tonnes in September.

Total SPVC imports to Kazakhstan grew to 25,200 tonnes in the first ten months of this year, compared to 21,400 tonnes in the same period in 2012.

The main increase in the supply of SPVC to Kazakhstan in the current year occurred for the producers of pipes and window profiles. In fact, the entire volume of imports accounted for the Chinese resin.

SPVC imports to Kazakhstan are expected to decline in November and December under the pressure of the seasonal factor (reduction in demand for finished products and preparing for a long scheduled maintenance works in the first months of next year).
MRC

LG Chem restarted its caustic soda plant in South Korea

MOSCOW (MRC) -- South Korean petrochemical company LG Chem has restarted a caustic soda plant following maintenance turnaround, reported Apic-online.

A Polymerupdate source in South Korea informed that the plant restarted on November 22, 2013. It was under maintenance for over two weeks.

Located in Yeosu, South Korea, the plant has a production capacity of 500,000 mt/year.

As MRC informed previously, LG Chem is planning to build an ethylene production plant in Atyrau, Kazakhstan. The project is going to be constacted in collaboration with two other Kazakh firms. The production is expected to begin in late 2016. LG projects that the plant will manufacture up to 800,000 tonnes of ethylene a year by injecting a USD4.2 billion investment into the complex.

LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. According to ICIS report, it is 15th biggest chemical company in the world in 2011. It has eight domestic factories and global network of 29 business locations in 15 countries. LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.
MRC

Amec sets sights on Foster Wheeler takeover

MOSCOW (MRC) -- UK engineer Amec is eyeing a takeover of US-listed engineering company Foster Wheeler in a potential deal that could create a GBP5 billion (USD8 billion) energy services group, according to Upstreamonline.

Citing sources, The Times reported on Wednesday that Amec has appointed Goldman Sachs to advise it on a potential deal. An Amec spokesman declined to comment. Foster Wheeler could not immediately be reached outside regular business hours.

Switzerland-based Foster Wheeler, valued at USD2.83 billion, operates through its engineering and construction business and its power business.

The Times cited sources as saying that Amec and Foster Wheeler may have held talks in the past but were not engaged in discussions currently.

Amec, a FTSE 100 company that provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, said in August it was looking to make acquisitions in the oil and gas sector.

Foster Wheeler AG is a global conglomerate with its principal executive offices in Geneva, Switzerland and its registered office in Baar, Canton of Zug, Switzerland. It is focused on the Engineering, Procurement, and Construction (EPC) industry and the Electrical Power equipment industry.

As MRC wrote before, Foster Wheeler has been selected by Rosneft and ExxonMobil to undertake the initial phase of the front-end engineering design (FEED) for a proposed Russian Far East liquefied natural gas (LNG) project. Foster Wheeler is one of two companies to be awarded separate contracts for the initial FEED work prior to selection of a single contractor for the second FEED phase.
MRC