This Week's Top Stories: Wednesday, 26th August 2015
Prices turn downward as supply tightness eases
After four months of sharply rising notations, European standard thermoplastic prices took a downward turn in July and August. Lower crude oil prices and feedstock costs, better material availability and higher import volumes are the main reasons for the price decline. Producers attempted to retain as much of the cost reduction as they could in order to swell their profit margins during the first two weeks of August trading.
Poland’s plastics output up in 2014
In 2014, Polish plastics producers managed to increase their output to some 3.04m tonnes, which represented an increase of about 1.6% compared with a year earlier, according to the latest data from the state-run Central Statistical Office (GUS).
Evonik seeks buyer for Performance Materials
Specialty chemicals maker Evonik Industries is looking to sell off or find a partner for its Performance Materials unit, which includes acrylic sheet and resin, as well as other specialty plastic materials. In an 17 August interview with Dow Jones Newswires, Evonik Finance Director Ute Wolf said the Essen, Germany-based firm can’t achieve the economies of scale that would be necessary for the long-lasting competitiveness of the Performance Materials unit.
Plastivaloire reacquires BAP motor vehicle division
French automotive supplier Plastivaloire announced in July that it had repurchased a 33% stake in its motor vehicle subsidiary, Bourbon Automotive Plastics (BAP), meaning it now owns 100% of the shares.
Rosneft plans giant complex in Russia
Russian oil giant Rosneft is pressing ahead with a huge joint venture petrochemicals and refining project in Russia’s Far East despite current political tension and the West’s economic sanctions against Russia over Ukraine. The $37bn (€33.2bn) complex planned for Nakhodka at the south eastern tip of Russia on the Sea of Japan, will have the world’s biggest steam cracker by volume.
Propylene blast shuts down Unipetrol petchems plant
Czech chemicals producer Unipetrol was forced to shut down its key petrochemicals plant at Litvínov for several months after an explosion and fire in the steam cracker unit crippled the facility.
Gurit sales up 6.5% for first half of 2015
Strong product demand in the wind energy business helped Swiss composite materials group Gurit post a sales increase of 6.5% in the first half of 2015, or a 9.1% rise at 2015 currency rates, it states. The company reports sales of CHF 178m (€163.9m) for the first half of 2015.
Bilcare Research acquires new site in Singapore
Bilcare Research, a producer of rigid films and foils and packaging arm of the India-based Bilcare group, has announced that it has acquired a manufacturing location for barrier films for the pharmaceutical industry in Singapore. The new facility is to be called Bilcare Research Singapore.
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