Biaxplen launched new polymer films production lines

(SIBUR) -- The Novokuibyshev-based enterprise "Biaxplen NC" (Russia) hosted a ceremony for the launching of three new polymer films production lines, which should boost output from 26 thsd to 42 thsd tonnes per annum. The total investment in the expansion of the plant's production facilities exceeds 500 mln rubles.

Thanks to its barrier, the optical and physical-mechanical properties of polymer film has result in it being widely used for packing goods in the food, perfume, tobacco, paper and other light industries. Earlier, "Biaxplen NC" was only engaged in the production of biaxially oriented polypropylene film (BOPP).

New types of film offer a different set of consumer properties. In particular, non-oriented 3-layer coextruded polypropylene film is characterised by high resistance to punctures and is widely used for lamination, as with BOPP and other kinds of film.

5-layer co-extruded polypropylene blown film has a high shrinking capacity, which ensures a high integrity seal in terms of further lamination and the opportunity to create complex materials for packaging bulk, grocery, and frozen foods, foods containing oils and fats, as well as coffee and tea.

The "Biaxplen" Group of companies is one of the main producers of biaxially oriented polypropylene (BOPP) film in Russia. SIBUR owns a 50% stake in the share capital of "BIAXPLEN LLC".

MRC

(LyondellBasell) -- LyondellBasell Industries announced net income for the fourth quarter 2010 of $874 million, or $1.54 per share. Fourth-quarter 2010 EBITDA was $762 million, excluding a reversal of $323 million of non-cash Lower of Cost or Market (LCM) inventory charges. Sales in the fourth quarter were $10,610 million, an increase of 20 percent from the prior year period. For the full year 2010, EBITDA was $4,035 million excluding a $42 million LCM charge.

During 2010, business conditions and results improved across the vast majority of our portfolio, most notably in the Olefins & Polyolefins and propylene oxide businesses. Improved worldwide demand and industry supply disruptions contributed to improved results.

The fourth quarter was impacted by seasonally lower volumes and margins in the oxyfuels and polyolefins businesses, rising olefins feedstock costs in Europe, and one-time events.

MRC

(ICIS) -- European spot paraxylene (PX) prices continued to firm this week despite a number of force majeure declarations on downstream purified terephthalic acid (PTA), market sources said on Friday.

⌠The forces majeures have made no difference in the market and prices have gone up rather than down because the product is just getting absorbed elsewhere, said an aromatics trader. The trading source added that buyers were prepared to pay $1,800/tonne (┬1,332/tonne) for spot PX.

BP recently declared its fourth force majeure (FM) on PTA at Geel, Belgium. There was also an FM at Lotte's PTA site at Wilton, UK, which has since been lifted.

On Friday, spot PX was priced at $1,780-1,800/tonne FOB Rotterdam, higher than pre-crisis levels, but $190/tonne short of the record high on 17 March 1995 when spot PX was trading at $1,970-1,990/tonne FOB Rotterdam.

However, prices were clearly above pre-crisis levels. In July 2008, just before the global economic downturn, spot PX was valued at $1,680-1,695/tonne FOB Rotterdam. In relation to the recent price developments, a producer said: ⌠It's simply a case of demand, it is very strong globally.

MRC

MOSCOW (MRC) -- The Russian producers lowered overall polypropylene (PP) production in January 2% compared to December 2010 to the level of 56.6 KT, according to MRC ScanPlast.

A non-significant reduction of production was marked at Stavrolen (LUKOIL group) and Tomskneftekhim (SIBUR Group). The main reason is increase of produced PP assortment. In other production sites the volumes of production remained in the level of December.

Tomskneftekhim (SIBUR Group) in October started production of new grades of homopolymer propylene. By February the enterprise mastered more than 15 new PP grades.

Stavrolen (LUKOIL group) in January presented only one new grade for cast films production. The release of propylene copolymers is not excluded.

According to preliminary estimates, in February a non-significant reduction of PP production is expected in the Russian enterprises. It is stipulated by some technical problems in separate production sites.

MRC

(Plastemart) -- Reliance Industries plans to invest US$30 bln over next five years in its various businesses, mainly targetted at petrochemicals, exploration and production and telecom businesses of the corporate conglomerate. The company expects its five main business in the next 5-10 years to be petrochemicals, refining, E&P, retail and telecom.

As per the proposed capex (capital expenditure) investment plan, RIL would invest US$10-12 bln in petrochemicals, while spending another US$10 bln on exploration and development of (oil and gas) discoveries already made in shale gas in India and US.

MRC