LDPE import in Ukraine down 11%

In March Ukrainian companies significantly increased LDPE imports. By March results 10.12 kt of polyethylene were delivered into Ukrainian market.

The main import income was from Belarus (almost 2 times comparing with February 2010). LDPE supplies from Croatia, Romania and Serbia have also increased. Ukrainian companies develop PE supplies into the domestic market, however, supply of the material is limited.

Deficit in shrinkable film production is being observed in LDPE market. European and Belarusian PE is presented in small volumes.

MRC

More detailed information is presented in MRC DataScope report.

(adsalecprj) -- Songwon, an additives supplier to the polymer industry, announces a new business structure for China which will be effective in the second quarter of 2010 and will create the foundation from which Songwon will continue to build its presence and customer relationships in China. The new structure will be based on Songwon China Limited, a wholly owned entity of Songwon Industrial Co., Ltd. Songwon China Limited will be based in Hong Kong and will form the cornerstone from which other Songwon entities and JV's will be established.

Songwon has developed a successful presence in China in recent years achieving a leading position in antioxidants for PVC, ABS and specialty stretch fibres. Customer demand for its wide range of products up till now has been served by SSBC, Songwon Brilliant Chemicals Co., Ltd., a manufacturing and sales JV for all liquid formulations, and by Brilliant Chemicals Ltd. as a distribution partner for all other Songwon products sales.

The Songwon group of companies in China will initially comprise of:

- Songwon China Limited,which will be the shareholder in all Songwon companies in China

- Songwon Shanghai Trading Ltd. which will be responsible for the sales of Songwon non-liquid products to the Chinese market. It will also manage the export of all Songwon products to be sourced in China to meet the needs of customers globally.

- SSBC, located in Shanghai, will be transformed into a fully owned manufacturing company by Songwon China Ltd. and will continue to be responsible for the manufacture and sales of liquid products for the China market.

- Songwon is in the process of developing relationships with partners in China that will allow it to have better access to the fast growing market in China and potential manufacturing assets supporting its strategy to offer a full range of Polymer Additives to its global customer base. Songwon China Ltd. will be Songwon's investement arm in all future JV's in China.

MRC

(Ineos) -- INEOS, the UK's largest private company, which owns the Grangemouth oil refinery in Falkirk, has won backing for its latest 1 billion (877m) refinancing.

There had been concerns that a number of investors would block the restructuring, which was proposed less than a year after a previous agreement with the firm's creditors.

Last week 90 per cent of lenders gave their support to the refinancing plan.

MRCMRC Reference

Ineos is a petrochemical group.
In Russia Ineos's interests are represented by Ineos Polyolefins and IneosChlorVinyls.

The share in the Russian market in 2008:
PVC - 4.5%;

polyethylene - 1.9%
(HDPE - 2.8%, LDPE - 1.2%);
polypropylene - 1.4%
(PP-random - 22.1%, PP-impact - 2.0%);
polystyrene - 0.9%.

Imports by polymers processing technologies:
profile extrusion;
pipe extrusion;
film extrusion;
injection molding.

(plastemart) -- SABIC has recorded a profit in Q1-10, from a loss in Q1-09. An improvement has been seen in the performance of SABIC's innovative plastics business, that had contributed to its first loss in seven years in Q1-2009. Profits were also helped by improved prices and new production from local and Chinese units.

SABIC reported a net income of SR5.43 bln (US$1.45 bln) vs a loss of SR970 mln in the same period in 2009. At SR 34 bln, sales were 72% higher than the SR19.8 bln in revenue reported in Q1-09. Production that has come onstream at Yansab, Asharq and Tainjin will support results from Q2-10. SABIC's Innovative Plastic business has seen a ⌠huge improvement on improving demand from automotive and electronic goods segment during the quarter. Optimism about a recovery in the US market makes global economic recovery seem ⌠sustainable. Sabic's quarterly results were ⌠associated with the improvement in the average prices, higher sales volume and absence of impairment charges of 1.2 billion riyals, which was recorded in the first quarter of 2009, according to Global Investment House KSCC.
SABIC aims to triple petrochemical production to 130 mln tons by 2020, and plans to add 12 mln tons of production by 2012. The company aims to initiate projects and complete existing ones, including the plant being built by Saudi Kayan Petrochemical Co.

MRCMRC Reference

Sabic. The share in the Russian market in 2008:
PE - 0.2%;
PP - 0.4%;
PS - 0.2%.

Annual sales growth in Russia over the last 5 years:
PE - 33%;
PP - 62%.

(Omnexus) -- A series of polymer ≈ organoclay nanocomposite materials consisting of GPPS and HIPS, layered montmorillonite organo clay (MMT) were prepared by dispersing nanophase in the organic PS matrix via in situ thermal polymerization. The nanocomposite effects on the chemical resistance and mechanical properties modification of PS and HIPS were investigated and characterized by XRD, SEM, chemical and mechanical testing. The results show That HIPS/organo clay nanocomposites have the superior chemical resistance.

MRC