PS imports to Russia dropped by 10% in January-November 2013

MOSCOW (MRC) -- Imports of polystyrene (PS) and styrene plastics to Russia dropped from January to November 2013 by 10% year on year and totalled 195,500 tonnes, according to MRC ScanPlast.

The overall decline in PS purchasing by Russian companies in foreign markets was caused by increased production at Russian plants. Expandable polystyrene (EPS) and general purpose polystyrene (GPPS) grades accounted for falling imports.

Increased GPPS production at Nizhnekamskneftekhim in 2013 led to the displacement of imported grades. Thus, GPPS imports into Russia fell from January to November 2013 by 27% (16,200 tonnes) year on year and totalled 43,800 tonnes.

The overall EPS imports to Russia fell by 16.5% (13,300 tonnes) from January to November 2013 and totalled about 67,000 tonnes.

At the same time, acrylonitrile-butadiene- styrene (ABS) and high impact polystyrene (HIPS) accounted for a slight increase in imports of 5% and 8%, respectively.

MRC

MOSCOW (MRC) -- Spot prices of polyethylene terephthalate (PET) in China showed a downward trend. They also dropped for consumers in the CIS countries, according to MRC Price report.

Thus, export Chinese prices dropped by USD10/tonne in the last week of the year on the back of increased capacity utilisation.

Market players said the price range of bottle grade PET chips in China fell to USD1,310-1,330/tonne FOB, excluding VAT, this week. However, some buyers in the CIS markets said they had managed to get prices at USD1,290-1,300/ tonne FOB China, excluding VAT.

At the same time, converters said Korean PET prices remained stable.

Meantime, Russian producers raised prices for the spot market by Rb1,000-1,500/tonne. Offer prices of Russian PET were heard in the domestic market at Rb64,000-66,000/tonne FCA company's warehouse, including VAT. Buying activity subsided in the market in the last week of December, but prices remained steady.
MRC

MOSCOW (MRC) -- Imports of unmixed polyvinyl chloride (PVC) into the Belarusian market grew by 15.8% over the first ten months of 2013, reported MRC analysts.

October PVC imports to Belarus fell to 3,100 tonnes from 4,400 tonnes in September. Thus, the overall PVC imports to the country exceeded 38,000 tonnes from January to October, while this figure was 32,900 tonnes in the same period of 2012.

This significant increase in demand for PVC was caused by strong demand from major producers of window profiles and window sills. It should be noted that bulks of the output have being shipped to foreign markets (exports grew to 20,500 tonnes over the said period).

INEOS is the main PVC supplier to Belarus with a share of about 50% in the total imports. The second largest importer is the Polish producer Anwil with a share of over 30%.
MRC

MOSCOW (MRC) -- The Lyon commercial court has designated the new owner of the company Kem One SAS, and put to an end the insolvency proceedings opened on March 27th 2013, reported Arkema on its site.

The commitment of all stakeholders involved, under the aegis of the public authorities, has enabled the takeover of the company and the continuation of its business as part of a takeover bid validated by the commercial court and with the full support of the French government.

In order to facilitate this takeover, Arkema has in particular waived all its claims on Kem One SAS which had been fully provisioned, adjusted certain commercial services provided to Kem One SAS, and undertaken, under certain conditions, to ensure the internal redeployment of 100 Kem One SAS employees.

On top of the provisions booked in the 1st quarter financial accounts related to the insolvency proceeding of Kem One, Arkema will record in its 4th quarter financial accounts a net exceptional expense of an estimated amount ranging between EUR15 and EUR20 million.

As MRC wrote earlier, at a hearing held on 12th December, the Commercial Court of Lyon was informed of two confirmed takeover bids for KEM ONE SAS, submitted by the private buyout firm OpenGate Capital and the private individual Alain de Krassny. Discussions with KEM ONE’s partners have resulted in agreements that have allowed both candidates to confirm their takeover bids.

Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.

KEM ONE, a fully integrated vinyl production company, was established mid-2012 following the acquisition of Arkema's vinyl products division by the Klesch Group. The company employs 2,600 people at 22 manufacturing sites, primarily in Europe but also in Asia and North America. Europe’s third-largest producer of PVC with revenues in excess of one billion euros, KEM ONE continues to grow and build on its numerous strengths with a view to becoming market leader for integrated vinyl solutions.
MRC

MOSCOW (MRC) -- PolyOne Corporation, a leading global provider of specialized polymer materials, services and solutions, has announced that its Board of Directors has elected Kerry J. Preete as an independent director effective immediately, according to the company's press release.

He will serve on the Environmental, Health and Safety committee and the Compensation committee. His election expands the number of PolyOne directors to 11.

Mr. Preete, 53, is executive vice president of global strategy for Monsanto Company, a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. He joined Monsanto in 1985 where he has since dedicated his career to successfully leading functional areas and global business divisions of the company. In his current role, Mr. Preete is responsible for setting direction of overall company strategy, business development platforms, management of the lawn and garden business and Information Technology.

"We are extremely pleased that Kerry has joined PolyOne's Board of Directors, and we look forward to his unique perspectives and insights," said Stephen D. Newlin, chairman, president and chief executive officer, PolyOne Corporation. "His track record of developing and executing strategies rooted in innovation that deliver growth provides an excellent complement to our already high-caliber and diverse Board."

As MRC reported previously, the Board of Directors of PolyOne Corporation has recently declared a dividend of eight cents (USD0.08) per share on the common stock outstanding, representing a 33% increase to the quarterly cash dividend.

PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins. The company's full-year revenues in 2012 increased 4.5% to USD3.0 billion, compared to USD2.9 billion in 2011.
MRC