Indorama Ventures and CSM to set up a PLA manufacture

(Indorama Ventures) -- Indorama Ventures PLC (IVL) and CSM subsidiary Purac are in discussions to set up a Polylactic acid (PLA) manufacturing facility in Thailand, with an initial capacity of 10,000 tons per annum being raised to 100,000 tons per annum after developing application specific grades. This product would be based on high purity (GMO free) Lactides produced by Purac. The Lactide monomers for the production of PLA will be sourced from Purac's Lactides production plant in Rayong, Thailand as well as from other Purac sites.

The product made by the combination of unique Lactide raw materials and unique PLA production process is able to deliver a quality that is stable at much higher temperature ranges than other bioplastics. The properties of this polymer allow this to be used for many textile and packaging applications which have not been possible with other bio-based products so far and will thus open a large latent demand. PLA has many uses, like upholstery, disposable garments, awnings, food packaging, and disposable tableware.

MRC

(CENS) -- Formosa Plastics Group (FPG), Taiwan`s largest plastics conglomerate, will invest US$300 million to set up a synthetic rubber plant in Ningbo, Zhejiang province, China.


Construction of the plant will begin sometime in October this year with mass production to start in two years. Initially the plant will be churn out 50,000 tons of IIR (isobutylene-isoprene rubber) per year to tap the tire market.


The group will invest in the rubber industry in both Taiwan and China through its subsidiary≈Formosa Synthetic Rubber Corp. (FSRC). In addition to the Ningbo plant, the group has three other proposals related to production of tires in China, bringing its overall investments to US$500 million.


In Taiwan, the FSRC`s investments in the rubber industry will be part of the group`s expansion project in its sixth naphtha-cracking complex in Yunlin County, central Taiwan. The FSRC plans to set up three plants in Taiwan with total investments of NT$15 billion.


In addition, Nan Ya Plastics Corp. under the FPG will also set up three new plants with total investments of at least NT$20 billion to drive the group`s involvement in the rubber industry.


MRC

(BASF) -- The Board of Executive Directors of BASF SE has decided to propose to the Annual Meeting on May 6, 2011 a dividend of ┬2.20 per share for 2010. The decision is subject to approval by the company's Supervisory Board in its meeting on March 3, 2011.

On the basis of the number of qualifying shares as of December 31, 2010, the dividend of ┬2.20 per share would correspond to a total dividend payment of approximately ┬2.0 billion. Relative to the 2010 year-end share price of ┬59.70, BASF shareholders would thus receive a dividend yield of 3.7 percent. If the proposal is approved by the Annual Meeting, the dividend will be paid out on May 9, 2011.

BASF aims to increase its dividend each year or at least maintain it at the previous year's level.

MRC

(Asahi Kasei) -- Mitsubishi Chemical Corp. and Asahi Kasei Chemicals Corp. have decided to establish a limited liability partnership (Nishi Nippon Ethylene LLP) for the integrated and unified management of their naphtha cracker operations in Mizushima, Japan, as previously announced on May 31, 2010.

With the start-up of unified management by this newly established LLP in April 2011, Mitsubishi Chemical and Asahi Kasei will implement a coordinated rationalization of operations for increased efficiency based on an optimized configuration, responding swiftly to changes in the operating climate for the Japanese petrochemical industry. The parties will also make every effort to further strengthen the Mizushima industrial zone including through alliances with oil refineries.

MRC

(Dow) -- The Dow Chemical Company announced that it is launching a cash tender offer for approximately $750 million aggregate principal amount of notes listed by Dow and its subsidiaries.

This announcement follows a series of debt reduction activities the Company plans to execute in the first quarter, including the pay-off of $800 million of matured debt and more than $150 million of InterNotes. Taken together, these actions will enable Dow to reduce its overall debt by more than $1.5 billion.

Cash tender offer addresses high-coupon debt, some of which was issued during the global economic crisis of 2009.

MRC