Borealis introduces next generation PP grade for frozen food packaging sector

(packaging europe) -- Borealis, a leading provider of chemical and innovative plastics solutions, is offering a step-up in performance and processing sustainability to the frozen food packaging sector with the launch of next generation transparent polypropylene (PP) grade Borpact SH950MO.

Based on Borealis Nucleation Technology (BNT), new Borpact SH950MO features a unique combination of transparency and good drop impact properties in low temperatures. Its performance is enhanced by higher flow (melt flow rate of 40) and better processability with improved stiffness (1050 MPa) compared to its predecessor Borpact SG930MO. The improved properties and better processing efficiency bring benefits and cost savings throughout the packaging value chain.

Developed primarily for packaging of deep freeze products such as ice cream, frozen desserts and other frozen food items, Borpact SH950MO is also an excellent choice for broader consumer packaging and housewares when the combination of good impact performance and transparency is a top priority.

Borealis AG is an international company in producing polyethylene (PE) and polypropylene (PP) solutions for the infrastructure, automotive and advanced packaging market sectors. Its plastics are converted by customers into products such as food packaging, medical devices, diapers, energy and communication cables, water and sanitation distribution pipes and automotive parts.
MRC

(Wlliams Partners) -- Williams Partners and Williams have announced an agreement for Williams Partners to acquire Williams’ approximately 83% undivided interest in the Geismar olefins production facility, as well as Williams’ refinery-grade propylene splitter for USD2.264 bln and pipelines in the Gulf region, for USD100 mln.

Additionally, Williams Partners will be responsible for the completion of the ongoing expansion of the Geismar facility projected to cost USD270 mln and additional pipelines projected to cost approximately USD160 mln.

The partnership expects the addition of olefins production to its business would bring more certainty to cash flows that today are exposed to the market for ethane, which is projected to experience periods of volatility as feedstock demand for infrastructure lags new supplies from shale-gas production.

The Williams Companies, Inc. is an energy company based in Tulsa, Oklahoma. Its core business is natural gas exploration, production, processing, and transportation, with additional petroleum and electricity generation assets.

The Geismar, La. facility annually produces approximately 1.3 billion pounds of ethylene and 90 million pounds of polymer grade propylene. Also in Louisiana, the olefins team is responsible for the ethane transportation business consisting of approximately 200 miles of pipelines, as well as a refinery-grade propylene splitter.
MRC

(upi) -- The European Commission announced Thursday that it launched an anti-subsidy investigation into importation of Chinese solar power products into the eurozone.

Industry ad hoc association EU Pro Sun in July filed a complaint stating solar power components imported from China into the European market were priced below fair market value. A September complaint from the association said solar components imported into the European Union were benefiting from "unfair government subsidies."

Last year, the commission said China exported more than USD26 billion worth of solar power components to European markets. As a result, the commission said Pro Sun's complaint is the "most significant" ever received "in terms of value of imports affected."

The commission said it would take about 13 months to conduct the investigation.

"According to trade defense rules it is possible to impose provisional anti-subsidy duties within 9 months, provided there is sufficient prima facie evidence of subsidization," it said in a statement Thursday.

Following the earlier complaints, a spokesman for the Chinese Ministry of Commerce described the investigation as regrettable.

The European Union in September announced it signed a finance agreement with China aimed at helping the country transition to a low-carbon economy.

MRC

(dsm) -- Royal DSM, the global Life Sciences and Materials Sciences company, announced today that it has entered into a definitive agreement to acquire Fortitech, Inc. (Fortitech) in an all cash transaction for a total enterprise value of USD 634 million (about EUR495 million). Subject to customary conditions, the transaction is expected to close before the end of the year.

Fortitech, a privately held company based in Schenectady (New York, USA), is a leader in customized, value added food ingredient blends for food & beverage, infant nutrition and dietary supplements industries. The company has approximately 520 employees. Fortitech has six production sites located in New York (USA), California (USA), Campinas (Brazil), Kuala Lumpur (Malaysia), Gastrup (Denmark) and Poznan (Poland), with sales offices in China and Mexico.

Net sales for 2013 are expected to be about USD 270 million with an EBITDA of about USD 70 million, including synergies and excluding exceptional items, resulting in an EV/EBITDA multiple of about 9. DSM has identified attractive cost synergies at about 10% of net sales, which will be fully realized by 2015. In addition, one-time synergies – primarily capital expenditure avoidance– are estimated at USD 70 million. DSM expects the transaction to be EPS accretive in the first year after closing.

DSM has recently introduced its new thermally conductive thermoplastic polyester for such components, as foglamp housings, lens holders and AFL (Adaptive Forward Lighting) frames.
MRC

(plastemart) -- Formosa Petrochemical Corp. plans to shut a 180,000 bpd crude distillation unit (CDU) for maintenance for upto 45 days in H1-2013, between the Lunar New Year in mid-February and July. Another CDU was shut for maintenance from mid-May to early June in 2012.

All of Formosa's three CDUs, which have a total capacity of 540,000 bpd are located at the Mailiao petrochemical complex in central Taiwan. Formosa will also shut down one of its three naphtha crackers for maintenance for up to 50 days next year, but not at the same time as the CDU.

Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The Company"s plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
MRC