INEOS confirmed a continuation of good conditions for Chemicals in the third quarter of 2010

(INEOS) -- Based on management information INEOS reports that Historical Cost EBITDA for the third quarter of 2010 was ┬402 million, compared to ┬376 million for Q3, 2009 and ┬478 million for Q2, 2010.

Refining inventory holding losses amounted to ┬4 million in the quarter, reflecting the movement in crude oil prices over the period. Combined Replacement Cost EBITDA for Refining and Historical Cost EBITDA for Chemicals was ┬406 million for the quarter, compared to ┬325 million for Q3, 2009 and ┬496 million for Q2, 2010.

The Group has continued to focus on cash management and liquidity. Net debt was approximately ┬7.0 billion at the end of September 2010. Cash balances at the end of the quarter were ┬547 million. The Group has repaid ┬250 million on the Revolving Credit Facility during the quarter. Net debt leverage was approximately 4.3 times as at the end of September 2010.

MRC

(Plastemart) -- Start up of the Solution Linear Low Density Polyethylene II train (SPE II) has been successful. SPE II is owned by Siam Polyethylene Co. Ltd, a joint venture between Dow Chemical Company (Dow) and Siam Cement Group (SCG), located at the existing Map Ta Phut manufacturing facility.

Output from SPE II will be commercially available this month onwards. "The start up of the SPE II train further strengthens our leadership position and technology expertise in the global octene-based polyethylene market. This new train not only demonstrates Dow's commitment to Asia Pacific, but also provides our customers with potential differentiation opportunities that will drive their business growth", said Peter Wong, Commercial Vice President, Plastics, Asia Pacific, Dow Chemical Pacific (Singapore) Pte Ltd.

SCG-Dow Group is a joint venture formed in 1987 by The Dow Chemical Company and Siam Cement Group (SCG). The Group is comprised of four joint venture companies that manufacture and supply markets across Asia Pacific with a portfolio of products, including styrene monomer, styrene-butadiene latex, polyethylene, polystyrene and compounding products.

MRC

(Plastemart) -- Univation Technologies LLC announced that PuCheng Clean Energy Chemical Co. Ltd (PuCheng) has selected Univation's UNIPOL PE Process for a 300,000 tpa high density polyethylene/ linear low density swing plant.

The Unipol PE Process facility will be fed by ethylene from a combination of coal-to-methanol and methanol-to-olefins technology. The facility will be located in Shaanxi Province, People's Republic of China with a planned start-up in 2013.

Univation is committed to continually investing in process and catalyst technology to drive down system costs and improve overall output and performance. In 2011, Univation will open its state-of-the-art UCAT J, high productivity catalyst manufacturing plant in Jiangsu Province, People's Republic of China to reinforce commitment to customers and the region.

MRC

(Plastemart) -- The Dow Chemical Co. and the Shenhua Group (Shenhua) announced Tuesday that they have taken another important step forward by submitting Project Application Report (PAR) to the Chinese government for its approval to build and operate a world scale integrated complex of coal, power and chemicals in Yulin city, Shaanxi province.

Meanwhile, discussions with relevant stakeholders are ongoing as the two partners continue to advance the project. "We are pleased to complete this important next step as we progress through the government approval process," said Peter Sykes, president, Dow Greater China. "We look forward to implementing a successful project in Yulin which will be a key element of our business growth strategy ranging from our building blocks to our downstream Performance and Advanced Material portfolios across Asia Pacific."

Overall resource conservation is a key design principle for the project, with advanced technology planned to optimize use of natural resources and minimize environmental footprint and water usage. The products produced will meet the highest international specifications and will provide a local and reliable supply to Chinese industries.

MRC

(Plastemart) -- Dow Advanced Materials, a division of The Dow Chemical Co., has broken ground on a new manufacturing facility in Dong Nai Province in southern Vietnam for the production of acrylic and styrene-acrylic polymers used in the paint, coatings, construction, packaging, home and personal care industries.

The new plant, scheduled to go on-stream in September 2011, will be shared by three Dow Advanced Materials businesses≈Dow Coating Materials (DCM), Dow Building & Construction (DB&C), and Dow Adhesives & Functional Polymers (AFP).

"Growing demand for our polymers from global and local paint and coating manufacturers located in Vietnam was the primary driver for building the new plant," said Yoke Loon Lim, general manager, Southeast Asia, Dow Advanced Materials. "More than 90% of our capacity will be sold to Vietnam-based customers, the majority of which are multi-national companies."

Paint and coatings customers use DCM acrylic and styrene-acrylic based specialty polymers as binders, rheology modifiers, and other additives for the development of a wide range of architectural and industrial products.

MRC