New appointments in Harvel Plastics

(Thomas Net News) -- Harvel Plastics, Inc., recently announced the promotion of Greg Martino to vice president of sales. Martino previously served as the national sales manager for its industrial PVC and CPVC pipe, duct, and extruded products sector.

Harvel Plastics, Inc. is a leading U.S. manufacturer of high-quality PVC and CPVC industrial piping and duct systems and other thermoplastic extrusions. With manufacturing and warehouse facilities in Pennsylvania, California, and Texas, Harvel supplies wholesalers across North America plus export markets.

In addition Harvel also produces a full range of specialty piping systems for emerging technologies including renewable energy and biotech development.

MRC

(Plastics News) -- Nova Chemicals Corp. has sold its 50 percent stake in the Ineos Nova joint venture to partner Ineos Group for an undisclosed price.

Officials with Nova ≈ which also is a major North American polyethylene maker ≈ said they expect the sale to close in the first quarter of 2011. They added that Nova ⌠does not expect to record a material gain or loss related to the transaction.

In a statement, Nova CEO Randy Woelfel said the business has made progress since the JV was established, but it was not a ⌠strategic priority.

Ineos Nova's operating profit for the first nine months of 2010 was estimated at $56 million, up from $22 million in the same period last year.

MRC

(Plastics News) -- Coca-Cola Recycling LLC is hoping that its catchy new Reimagine recycling container system will catch a lot of PET soft drinks and water bottles and aluminum cans and boost on-the-go recycling.

The system, developed in partnership with Environmental Products Corp. of Naugatuck, Conn., can store up to 65,000 crushed cans and 18,000 bottles. Coca-Cola said that it expects that 300,000 beverage containers or more will be recycled monthly through each Reimagine center.

MRC

(Plastics Net) -- Fox Petroleum Inc. announced today that its Canadian subsidiary Resources Polymers Inc. has successfully processed two hundred and fifty thousand pounds of polystyrene coming from scrap agricultural products.

The plastics recycled have gone back into the recycling system and have already been sent back to remaining compounding firms and are being turned into new products including new agricultural trays for greenhouses.

"The first six weeks with our new line have been very smooth and we intend to move up to processing one million pounds per month with increased supply of product in the first quarter of 2011," said William Lieberman President of Fox Petroleum Inc.

The company expects its Canadian subsidiary which will become carbon neutral will process up to 30 Million pounds of post industrial and post consumer scrap plastics per year with revenues approaching Five million dollars per year at these processing levels.

MRC

(ICIS) -- South Korea's petrochemicals exports surged 22% year on year to $29.9bn (┬21.8bn) in October on the back of higher product prices, with the double-digit growth trend likely to continue in November, analysts said on Tuesday.

Meanwhile, exports of petroleum products grew 32.2% year on year to $3.04bn in October, also due to the surge in crude prices, he said, adding that the growth was partially led by shipments of diesel.

Export volumes of key petrochemical feedstocks ethylene and propylene fell 24.5% and 28% year on year, respectively, in October, while exports of naphtha rose 22.2%, according to statistics from the Korea International Trade Association (KITA).

Petrochemical exports were expected to show double-digit growth in November due to buoyant energy values and low base figures in the same period last year, analysts said

The country's overall exports rose 29.9% year on year in October to a record $44.1bn, due to key export industries such as semiconductors and automobiles.

Meanwhile, imports into South Korea climbed 22.4% year on year to $37.2bn, the highest level since the worldwide economic crisis began in September 2008, buoyed by higher inbound shipments of raw materials.

MRC