Treofan purchases BOPP film division from Max India

(MSF) -- Max India has sold its 50,000 tpa profitable biaxially oriented polypropylene (BOPP) film facility, Max Speciality Films, to Treofan, a German global technology leader for BOPP film, for Rs 5.4 billion (USD97 mln).

Max Speciality Films (MSF) division is a strategic business unit of Max India. MSF is one of the leading Indian players in development and manufacture of specialty BOPP films, including multilayer white opaque films, ultra high barrier metalized plain films and leather finishing foils. Its products are used by leading players in food packaging, overwrapping, consumer products, labels and textile industries.

Treofan Group is a global technology leader for biaxially oriented polypropylene film (BOPP). Treofan, which develops and sells BOPP films in over 90 countries around the world, has already production facilities in Europe and the Americas. Company offers the most diverse and comprehensive product range within the industry, providing packaging, label and tobacco film applications as well as films for electronic devices, such as capacitors.
MRC

(plastemart) -- Idemitsu Kosan has shut its 623,000 tpa ethylene plant at Tokuyama refinery for maintenance on Sept. 4, as per Bloomberg. The official, who asked not to be identified because of company policy, has not specified when the plant will resume operations.

Idemitsu Kosan is a Japanese petroleum company. It owns and operates oil platforms, refineries and produces and sells petroleum, oils and petrochemical products. The company runs two petrochemical plants in Chiba and Tokuyama. The two naphtha crackers can produce up to 997,000 tonnes of ethylene per year.
MRC

MOSCOW (MRC) -- The consumer activity in the Russian market of HDPE over the second week of September declined slightly. The prices in the electronic trades began decreasing, as per MRC analysts.

The first week of September in the Russian market of HDPE was quite nervous. Shortage of many HDPE grades, ongoing stoppage of Stavrolen and Gazprom neftekhim Salavat and stoppage for scheduled maintenance of facilities in Kazan and Nizhnekamsk in September affected seriously the market. The bids of low density polyethylene (LDPE) at the electronic trades reached Rb100,000/tonne, including VAT, FCA, and more.

In mid-July, the prices of film and pipe HDPE were at Rb66,500-68,000/tonne, including VAT, CPT Moscow. After one and half months the prices of polyethylene in the spot market rose by Rb30,000-35,000/tonne, depending on grade. Such a serious rise in prices is hard to accept for many converters, especially for producers of films and PE pipes. Companies have got contracts at fixed prices, and rising prices of feedstock by more than 50% in such a short period of time step far over the contracts bounds.

By the end of last week, the buying activity in the Russian market of HDPE declined significantly. A record peak of PE prices, as well as the announcements about the upcoming resumption of the facilities of Stavrolen and Gazprom neftekhim Salavat reduced the tension in the market. On Sept, 10, at the electronic trades the bids for HDPE by Kazanorgsintez production did not exceed Rb98,300/tonne, including VAT, FCA. Many market participants think, that the situation in the market depends on how quickly and to what extent Stavrolen and Gazprom neftekhim Salavat will resume the production of HDPE for the domestic market.
MRC

(europeanplasticsnews) -- Jokey Plastik, a well-known German producer of plastic packaging, plans to invest up to EUR20m in building a plant in the Russian Ulyanovsk region, according to the official statement from the Ulyanovsk government.

The new plant is expected to be built in the Cherdaklinsky area of the Ulyanovsk region and will create up to 100 new jobs. The commissioning date of the plant was not disclosed.

In additton to the Ulyanovsk factory, this year the company plans to finish building another factory in Turkey.

Founded in 1968, Jokey Plastik currently remains one of the world’s leading manufacturers of plastic packaging. The company currently operates 13 plants in Germany, France, Poland, Czech Republic, Serbia, Belarus, Turkey, Algeria, Egypt and Canada.

In addition to its core activities, Jokey also specialises in making structural components for automotive and computer equipment, and furniture for bathrooms.
MRC

(plasteurope) -- Anglo-Dutch energy and petrochemicals group Shell (The Hague / Netherlands) has awarded the basic engineering contract for its joint venture MEG project in Ras Laffan / Qatar to Foster Wheeler (Zug / Switzerland).

The two-train MEG plant will be based on Shell’s Omega technology and is expected to have a 1.5m t/y capacity. It will be part of a new petrochemicals complex in Ras Laffan which is being developed by a joint venture between Shell and Qatar Petroleum (QP, Doha /Qatar). The complex is also expected to include a 300,000 t/y linear alpha olefins unit and a 250,000 t/y oxo alcohols unit, and commercial production is expected to begin in 2017. Shell will have a 20% stake in the project and Qatar Petroleum will hold the remaining 80%.

Foster Wheeler said it will benefit from the experience it gained from working on Shell’s Omega-based MEG plant on Jurong Island / Singapore. The company was the front-end engineering design (FEED) and engineering, procurement and construction (EPC) management contractor for the Jurong Island project, which started operations in December 2009 .
MRC