Honam completes acquisition of 72.3% stake in Titan Chemicals

(Plastemart) -- South Korea's number two ethylene maker Honam Petrochemical has acquired 72.3% stake in Malaysia's Titan Chemicals. Honam completed a payment of $990 million for stakes in Titan on November 9 and gained the managerial right.


The deal marks Honam's third acquisition, following Hyundai Petrochemical in 2003 and KP Chemical in 2004. Titan is Malaysia's largest integrated olefins and polyolefins producer, and one of the top 30 companies in Malaysia by asset size.


It has capacity to produce 1.2 mln tpa of olefins, 1.5 mln tpa of polyolefins, 0.2 mln tpa of aromatics, 0.1 mln tpa of butadiene and 38,000 tpa of BOPP film through facilities and plants located in Malaysia and Indonesia.


MRC


HDPE imports to Russia in October exceeded 35 KT

MOSCOW (MRC) -- In October the Russian companies increased the volumes of HDPE imports having reached volume of 35 KT, according to MRC DataScope.

In October total HDPE imports supplies reaches record 35 KT which is 11 KT or 45,4% more compared to September supplies.


Such considerable imports growth is primarily subject to scheduled suspension for maintenance of two Russian producers - Kazanorgsintez and Nizhnekamskheftehim - during September-October.


Also the growth of film HDPE supplies from Ukraine (Karpatneftehim, Lukoil group) should be taken into account. In September the enterprise restarted PE production after more than two-year shutdown.


In October the plant reached 100% capacity utilisation.


For more detailed information about PVC market, see MRC DataScope reports.

MRC

Indorama Ventures to enter China

(TaiPR.net) -- Indorama Ventures signed a definitive agreement to acquire the assets of Guangdong Shinda UHMWPE Co., Ltd having manufacturing in Kaiping City, Guangdong Province of China. The plant has an installed capacity of 406,000 tons per annum to produce PET polymers and Polyester polymers for fibers and yarns and industrial applications.


Indorama Ventures is currently the world's second largest producer of PET. The Company's products are used in a wide range of segments. The PET and Fiber business of Indorama Ventures is suitably integrated with about 1.8 million tons of PTA manufacturing in Europe and in Asia.


⌠China is a fast growing country for PET and will soon become the worlds largest consumer and this acquisition will allow us to build upon our expanding global platform, making the company the largest vertically integrated PET producer in the world, said, Aloke Lohia, group chief executive officer of Indorama Ventures.


The transaction is expected to be finalized sometime in the first quarter of 2011, pending required regulatory approvals as well as certain conditions precedent by the vendor.


MRC


Alliance Polymers introduces special new overmolding TP

(Plasticsnet) -- Alliance Polymers & Services (APS) has introduced the newest line of Maxelast brand polypropylene overmold or stand-alone TPEs (thermoplastic elastomers). The TPE currently is in use on Toyota automobile seat belt housings and in several other automotive applications.


New Maxelast P3885H thermoplastic elastomer stands out as having excellent tear strength, very good UV stability, and excellent abrasion resistance. It can be used as a stand-alone TPE or overmolded onto polypropylene to achieve excellent results.


Alliance Polymers and Services, LLC is North America's only all-inclusive TPE supplier, offering consulting services and product solutions with BASF Elastollan TPUs and Polymax Maxelast TPEs. They are a full-service warehousing, distribution, shipping and technical service organization dedicated to helping elastomer products firms and processors with all their product and technical support needs.


MRC


Braskem announced its results in 3Q10

(Yahoo News) -- BRASKEM S.A. announced its results for 3Q10. Among them: Braskem's thermoplastic resin sales of 934 KT in the domestic market, up 17% from 2Q10. Also start up of the Green Ethylene plant at the Triunfo petrochemical complex, which has annual production capacity of 200 KT, led Braskem to become the global leader in biopolymers.


In 3Q Braskem entered into an agreement with Laboratorio Nacional de Biociencias located in Campinas to develop technologies for the production of polymers from renewable raw materials that are competitive, cost-effective and efficiently sequester carbon dioxide from the atmosphere.

Also seeking to increase its proximity to clients and better understand their needs, Braskem expanded its global presence by inaugurating a commercial office in Colombia and preparing to open new commercial offices in Singapore and Peru.


And for the second time, Braskem received the Guia Exame Sustainability award by figuring among the 20 most sustainable companies in Brazil. The awards ceremony was held on November 10.


MRC