This Week's Top Stories: Wednesday, 1st July 2015
Borealis to invest €160m at Swedish site
Borealis, the Austria-headquartered chemicals giant, has announced it is investing €160m at its production site in Stenungsund, Sweden. The company states the investment will see the upgrade and rejuvenation of four out of six of its cracker furnaces to the highest standards currently available, whilst the remaining two furnaces will be completely shut down due to age.
German cartel office fines auto suppliers
The Federal German Cartel Office (Bundeskartellamt) announced on 24 June that it has fined five producers of automotive acoustic parts a total of €75m for having entered into price fixing arrangements. One of the companies affected is the Autoneum Germany subsidiary in Roßdorf of the Swiss company Autoneum (former Rieter Automotive), which stated on 24 June that it had been fined €29.5m by Bundeskartellamt.
Packaging firms fined €116m after cartel probe
The European Commission (EC) has fined a group of European packaging manufacturers and distributors a total of €115.9m for having participated in “at least one of five separate cartels” across the Continent. The manufacturers are Linpac in the UK; Huhtamäki of Finland; Nespack and Vitembal of France; Coopbox, Magic Pack and Sirap-Gema of Italy, and Silver Plastics of Germany.
Bayer may plan to spin-off BMS as early as October
German chemical giant Bayer may plan to list its plastics division as early as October to take advantage of current rich stock market valuations, according to a Reuters report which cites sources familiar with the deal.
Sweden’s Tetra Pak launches expanded Hungarian plant
Swedish packaging maker Tetra Pak has expanded its production facility in Budaörs, a municipality in close proximity of the Hungarian capital Budapest. The investment in upgrading the factory’s output capacity is estimated to be worth some HUF 14bn (€44.9m), reports local news weekly Budapest Business Journal.
Hungary’s Tu-Plast expands packaging plant
Hungary-based plastic packaging maker Tu-Plast Tubusgyártó has completed a project which expanded its production facility in Debrecen, in the country’s north-eastern part. The investment is estimated to be worth some HUF 5bn (€16m), reports local news agency MTI.
Solvay signs deal with Sinochem
King Philippe of Belgium and China’s President Xi Jinping witnessed the signing of a deal between Solvay and Sinochem Group last week.
RPC to expand Bosnian packaging factory
Rigid plastic packaging maker RPC Group has unveiled plans to expand the output capacity of its production facility in Gračanica, in the northern part of Bosnia and Herzegovina.
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