Stamicarbon's acquisition of Noy Engineering expanded its polymer portfolio

(Plastemart) -- With effect from January 1, 2011, Stamicarbon, the licensing and IP Center of Maire Tecnimont S.p.A., has acquired the Italian engineering company Noy Engineering from Tecnimont. With this acquisition the extensive licensing, innovation and customer service experience of Stamicarbon is combined with the polyester and polymerization technologies of Noy Engineering.


Noy Engineering designs and builds plants worldwide, based on proprietary technologies. It has developed an extensive portfolio of Polymer technologies PA6.6 & PA6, PET and Acrylic. There are more than 100 plants already designed, constructed and in operation with Noy's technologies, which is equivalent to more than 1 million metric tons per year production installed worldwide.


MRC

PP production in Ukraine fell by 20%

MOSCOW (MRC) -- The volume of PP production in Ukraine summarizing 2010 fell by 20% and made about 78 KT, according to MRC analysts. The reduction in production volumes was stipulated by scheduled and unscheduled shutdowns of Linik (ТNК-ВР Ukraine Group).


Considerably long production suspension in May - June was stipulated by almost complete maintenance of production complex of Lisichansk oil refinery. In August because of abnormal high temperature the accident at the feeding electrical substation resulted in unscheduled shutdowns of the production complex.


In November because of accidents at one of complex lines PP production was suspended for a few weeks. All these factors resulted in serious reduction in production volumes.


MRC

IRPC to invest US$800 mln to expand propylene capacity

(Plastemart) -- In a bid to meet growing demand in the region, IRPC - the polymer business arm of PTT Plc, is to invest US$800 mln to expand propylene capacity by 260,000 tons to 710,000 tpa. The expansion is a part of a five-year business plan with an investment outlay of US$2 bln to develop high-grade plastics, which offer high better margins.


US$700 mln will be invested in building three power plants under the small power producer scheme and US$500 mln will be invested in upgrade of existing facilities such as industrial land, oil pipelines and tanks. All the investments are part of IRPC's Phoenix Project which covers 19 ventures to be developed between 2010 and 2014, some of which are under construction and some pending board approval and feasibility studies.


MRC

Azelis to completes the acquisition of Finkochem

(Azelis) -- Azelis, the leading pan-European specialty chemicals distributor, today completed the acquisition of Finkochem d.o.o., a company specialising in the sales and distribution of a wide range of raw material for the food, chemical industries (detergents and homecare), plastics additives, metallurgy and rubber.


With this strategic acquisition in Serbia, Azelis greatly reinforces its position in the region as Finkochem is the second largest distributor in the country.


Finkochem was established in 1991 by Al Metalchem Ltd Cyprus, employs 20 people, mostly in sales & marketing and is based in the centre of Belgrade. This well known company in the Serbian market services more than 300 customers from their warehouse located near Belgrade.


MRC

PetroChina to enter into a framework agreement with INEOS

(ICIS) -- PetroChina has entered into a framework agreement with INEOS to form joint ventures for trading and refining activities at Grangemouth in Scotland and Lavera, France, it said on Monday.


Core to INEOS is also an agreement signed on Monday with PetroChina's ultimate parent company, China National Petroleum Corporation (CNPC) to share refining and petrochemical technology and expertise. The agreement gives INEOS the opportunity to lever its technology and expertise into the China market.


PetroChina and INEOS would work towards the formation of the proposed joint ventures by the end of June 2011, PetroChina said. No financial details were immediately available but an INEOS spokesman clarified that the agreement covered all INEOS refining and trading activities associated with the two refineries.


MRC