Chemtura emerges from US bankruptcy protection

(ICIS) -- Chemtura completed its financial restructuring and emerged from US Chapter 11 bankruptcy protection after nearly 20 months, the US specialty chemicals producer said on Wednesday.

⌠With the successful completion of our financial restructuring, we have significantly reduced our debt, improved our cost structure and resolved a considerable amount of environmental and other liabilities, said Chemtura CEO Craig Rogerson.

Chemtura filed for bankruptcy protection in March 2009 after it failed to sell two companies.

Chemtura, which describes itself as a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products, had $2.3bn (┬1.7bn) in 2009 sales.

MRC

(ICIS) -- China's Shaanxi Beiyuan Chemical Industry Group Co has started up its new 250,000 tonne/year carbide-based polyvinyl chloride (PVC) and 200,000 tonne/year caustic soda lines in Shenmu, Shaanxi province, a company source said on Thursday.

The two lines are part of the first phase of Shaanxi Beiyuan's project in Jinjie Industry Park, which includes a 500,000 tonne/year of PVC plant and a 400,000 tonne/year caustic soda unit, added the source.

The remaining 250,000 tonne/year PVC and 200,000 tonne/year caustic soda lines of the first phase were scheduled to come on stream early next year, the source said, adding that construction on those two lines was almost complete.

Meanwhile, construction of the project's second phase - also 500,000 tonn/year PVC and 400,000 tonne/year caustic soda -was currently underway and it was scheduled to start up by the end of 2011, according to the source.

MRC

(ICIS) -- Most naphtha crackers in Asia, with downstream derivatives, continue to operate at near full capacity or higher, thanks to a firm integrated margin, but sentiment may turn bearish in the face of an ethylene price slump, traders said on Tuesday.

The integrated polyethylene (PE) margin held firm at $235/tonne (┬169/tonne) in the week ended 5 November, ICIS data showed.

On the other hand, the ethylene or steam cracker margin plummeted to $34/tonne NE (northeast) Asia in the same period, versus $72/tonne the previous week and $252/tonne in September, the data showed.

As a rule of thumb, cracking operators may enjoy full cost recovery if the spread between naphtha and ethylene hovers at a minimum of $250/tonne, traders said.

Ethylene prices fell to $980-1,000/tonne CFR (cost & freight) NE Asia last week, against month-ago levels of $1,110-1,150/tonne due to an armada of supply from the Middle East, ICIS data showed.

Regional integrated naphtha crackers are running at high rates because of a healthy polymers market, adding to the flood of ethylene supply.

MRC

(European Plastics News) -- Sita, the waste company owned by France-based Suez Environnement, says it will build 10 plants across the UK to convert end of life plastic into diesel fuel. The company will commission the first plant in London by the end of 2011.

Each plant - Sita is aiming for 10 in total - will convert 6,000 tonnes of mixed waste plastic per year to produce four million litres of diesel. The company will build two to three conversion plants per year, depending on planning.

The fuel will primarily be used by Sita vehicles as well as bulk transport companies such as lorry firms.

MRC

(Plastics News) -- Plastic Technologies Inc. believes that its new breakthrough grip handle technology for containers will give consumer product goods companies the opportunity to reduce packaging weight by as much as 25 percent.

⌠It is a new PET bottle that provides better market shelf impact for the brand owner, said Ron Puvak, director of business development and marketing for PTI, based in Holland, Ohio. ⌠Our objective was to create a more consumer-friendly package. It has a great grip and pour feature compared to mixed materials packages that are on the market and it allows consumer to pour liquids easily from multi-serve containers.

PTI said the process used to make the Deep Grip bottles ≈ injection stretch blow molding (ISBM) ≈ offers several benefits compared to the extrusion blow molding process that is typically used to produce handled bottles.

Among the benefits from the ISBM process, according to PTI, are potential weight reductions of 20-25 percent, higher output of 1,200 bottles per cavity per hour, a smaller equipment footprint, and better drop and creep resistance.

MRC