PTT Chemicals' net profit seen growing 49% year on year in 2011

(ICIS) -- PTT Chemicals' (PTTCH) net profit is expected to grow 49% year on year in 2011 to Thai baht (Bht) 17.5bn ($58.24m), spurred by higher product prices and improving demand, DBS Group Research said on Thursday.


PTTCH's key product prices would increase ⌠across the board during the 2011-2013 period to reflect improving demand resulting from the global economic recovery and sustainable high crude oil prices, DBS said in a research report.


Prices of PTTCH's monoethylene glycol (MEG) and low density polyethylene (LDPE) were expected to increase to $1,000/tonne and $1,500/tonne respectively in 2011, as compared to $900/tonne and $1,350/tonne in previous estimates, the report said.


Revenue for the whole of 2011, meanwhile, was expected to grow 21.4% year on year to Bht 124.7bn, according to the research report.


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Liaoning Tongyi awards contract to Lummus Technology for isobutylene and propylene

(Plastemart) -- Lummus Technology has been awarded a contract by Liaoning Tongyi Petrochemical Co., Ltd. for the license and engineering design of grassroots OCT olefins conversion units and CATOFIN dehydrogenation units at several of its sites in the People's Republic of China. The units will produce 684 tpa of isobutylene and 950 tpa of propylene.
CB&I designs, engineers and constructs some of the world's largest energy infrastructure projects, providing a full spectrum of EPC solutions and proven process technologies.


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Production interruption at Dow's light hydrocarbon plant in Freeport, Texas

(Plastemart) -- Dow Chemical Co has had a "production interruption" at its light hydrocarbon plant in Freeport, Texas, as per Bloomberg. This however, has had no impact on downstream businesses and no injuries. Dow's Light Hydrocarbon 7 plant had an upset in the internal hydrogen supply to the acetylene reactors yesterday and again today that caused flaring of "offspec" ethylene, according to two filings with the Texas Commission on Environmental Quality.


Hydrogen supply was re-established as quickly as possible to bring the ethylene product back on spec according to the filings.


The Texas operation is Dow's largest integrated site, manufacturing 44% of Dow products sold in USA and more than 21% of Dow products sold globally.


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Thailand's IRPC Pcl plans expansion of propylene capacity by 58% by 2014

(Plastemart) -- Thailand's IRPC Pcl (IRPC) plans to expand propylene capacity by 58% by 2014, as per Reuters. IRPC, 37% owned by Thailand's top energy firm PTT Pcl plans to seek approval this month to go ahead with plans to expand annual capacity of propylene by 160,000 tons.


Construction of a new propylene plant is expected to be completed by 2014 in addition to a previously announced "de-bottlenecking" expansion that would raise its propylene capacity by 100,000 tpa in 2012. IRPC's current capacity of 450,000 tpa of propylene will rise to 710,000 tons by 2014.


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Profile maker Creative Extruded Products expands in Ohio

(Plastics News) -- Creative Extruded Products Inc. has received state approval for a tax break to help it expand its Tipp City plant. The company in May was awarded a 40 percent job creation tax credit over six years for the $1.4 million project, which is expected to create 34 jobs and retain 154 at the 100,000-square-foot plant, which has 12 extrusion lines. The Ohio State Controlling Board approved the grant Nov. 22.


Founded in 1979, Creative Extruded Products is a custom plastic profile extruder supplying the automotive, aerospace, appliance, construction and industrial, recreational vehicle, electronics, marine and law and garden markets.


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