This Week's Top Stories: Wednesday, 28th January 2015
DuPont reports fall in sales and profit
Materials giant DuPont will use almost all of the proceeds from an upcoming spinoff — one that includes its fluoropolymer and titanium dioxide businesses — to fund a massive $4bn (€3.5bn) stock buyback. Officials with Wilmington, Delaware, US-based DuPont announced the move on 27 January as the firm released full-year financial results for 2014.
W&H buys bigger stake in BSW
Windmöller & Hölscher will get more involved in flexible packaging machinery through its bigger stake in machinery maker BSW Machinery Handels.
Italy's Novamont signs deal for bioplastics creation
Italy-based materials company Novamont has announced that its 50/50 joint venture with Versalis, Novamont and Matrìca, has signed a deal with Coldiretti and Consorzi Agrari d’Italia, for the creation of innovative agro-industrial chains to create short-chain biolubricants and bioplastics.
Associations back EFSA's BPA safety study
Following the European Food Safety Authority (EFSA) concluding there is no health risk to consumers of any age group from current exposure levels to Bisphenol A (BPA), associations around the world have come forward to support its findings. PlasticsEurope’s PC/BPA group has stated that following the EFSA’s conclusions the French restriction on BPA is disproportionate and should be withdrawn.
Spain's Cepsa set to sell off PET/PTA operations
PET manufacturing in Europe is poised for further consolidation with another Spanish producer preparing to dispose of its PET polymer and purified terephthalic acid (PTA) operations.
L’Oreal works with Avery Dennison for eco labels
L’Oreal Americas and Avery Dennison have announced that they are working together to reduce the environmental impacts of packaging labels throughout the entire label lifecycle.
Sibur's polymers project may get €3bn state boost
A major Siberian polymers project, ZapSibNeftekhim, planned by the Russian petrochemicals group Sibur, could be in line for a big injection of state funding through the Russian Direct Investment Fund (RDIF). The equity investment fund, set up by the government in 2011 as a catalyst for direct investment into Russia, may spend $3.5bn (€3.09bn) from the National Wealth Fund and raise hundreds of millions of dollars from other investors to back Sibur’s scheme for a 2 million tpa polyolefins complex.
Esterform buys Constar UK for undisclosed sum
Constar UK, the Leeds-based blow moulder, has been bought by Esterform Packaging for an undisclosed sum. Esterform, which claims to be the largest independent converter of PET in the UK, said the deal would double its PET preform and container capacity to in excess of three billion units a year.
PD+I 2015: 20-21 May, London|
The PD+I conference is back on 20-21 May 2015 and turns five!
With a brand new London venue and – building on the great work
of Kevin McCullagh in the first four years – a new conference
chair, Chris Lefteri. Chris is an internationally recognised
authority on materials and their application in design. Join
us to celebrate five years of providing a place for the design
community to meet and discuss innovation. Click here for more information.