Protests in Egypt affect Sidpec's sales

(Arabian Oil and Gas) -- Egyptian petrochemicals producer, Sidi Kerir Petrochemicals (Sidpec), said that production during the recent protests in the country has not been affected, while sales operations have stopped completely.

Curfews have obliged Sidpec to stop sales completely for a few days, the company said in a statement published on the Egyptian stock exchange.

Meanwhile, the company reported that its profits rose 9% in 2010 to US$140.4 million compared to $129 million in 2009. The company attributed this increase to better production rates and an improvement of prices in international markets.

Sidpec was incorporated in 1997, and produces mainly linear low density polyethylene (LLDPE) and high density polyethylene (HDPE) traded under the name ⌠Egyptene.
MRC

(Plastemart) -- Bayer MaterialScience has inaugurated a manufacturing facility for polyisocyanates at Ankleshwar, in the state of Gujarat, India. Polyisocyanates are used as raw materials for the production of polyurethane coatings and adhesives. With the investment of approximately EUR 20 million, the company wants to expand its business in India and to participate in the strong growth of this local market for coatings and adhesives. The plant will produce Desmodur N grades based on aliphatic hexamethylene diisocyanate (HDI). Furthermore, Desmodur L grades will be manufactured from aromatic toluylene diisocyanate (TDI).

The initial capacity amounts to 15 KTa. It will be increased in stages in the coming years in accordance with the predicted growth for polyurethane coatings and adhesives.
MRC

(DSM) -- Royal DSM, the global Life Sciences and Materials Sciences company, today announces that it will start a partnership with Kemrock Industries in India for the production of specialty composite resins in India. DSM and Kemrock together will invest USD 25 million in the joint venture.

With this partnership DSM, one of the leading composite resins providers in the world, will structurally strengthen its presence in India and leverage its depth of technological knowledge and global customer relationships. Both partners will utilize and leverage each other's strengths whereby DSM will focus on the supply of innovative specialized composite resin solutions to the fast growing Indian market while Kemrock will concentrate on the production of high end composite parts.

DSM will hold 51% and Kemrock 49% in a joint venture, which will be based in Pune. In addition to the joint venture, DSM will establish its own local marketing and sales company for composite resins to serve the Indian domestic market.
MRC

(ICIS)--China's plan to build 36m units of government subsidised apartments over the next five years ensures strong demand for construction-related petrochemicals through 2015, analysts said on Tuesday.

The first 10m of the government-subsidised apartments would be built this year, Premier Wen Jiabao said on Sunday in an online chat session with users of Xinhua.net, a state-owned web-based news organisation.

Petrochemicals such as polyvinyl chloride (PVC), polyethylene (PE) and polypropylene (PP) were expected to benefit from the planned robust construction activities, analysts said.

⌠China is a key market for petrochemicals in Asia, with the country's domestic supply still lagging demand due to delays in start-up of a number of projects since 2008, analysts said.

MRC

MOSCOW (MRC) -- Africa and the Middle East political crises destabilized polymers markets in Europe and Asia, the Russian processors are confused as well, said MRC analysts.


Long-term political troubles caused oil and petrochemicals prices hike. Naphtha quotations in Europe raised by record USD 74/Mt on Friday, and it didn't allow main market players to settle March propylene and ethylene contract prices. Undefined contract prices for olefins resulted in indeterminate March prices for polyethylene, polypropylene and polyvinylchloride.


The same situation was marked in Asia. As a result of sharp price growth for oil, ethylene and propylene, some Asian suppliers started to form prices on a weekly basis. Some companies get re-insured and raised prices for March supplies by USD 100/Mt higher than expected.


Russian producers acted in a more predictable way. Polyethylene, polypropylene and polyvinylchloride contract prices for March supply raised by RUB 500/t - 2.000/t (depending on a polymer producer). The Russian converters, who use the European polymers, are forced to wait for new prices from thier European suppliers in terms of dynamic development of oil and naptha market.

MRC