Indian Gail proposes to set up a naphtha cracker in PCPIR in Andhra Pradesh

(Plastemart) -- The Andhra Pradesh Chief Minister has sought speedy implementation of the naphtha cracker at the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) in the coastal region of the State. Gas Authority of India Ltd. (Gail) has proposed to set up this naphtha cracker. Andhra Pradesh Industrial Infrastructure Corporation (APIIC) is working closely with Gail for creating the required infrastructure for the project. The proposed plant would be crucial for the development of PCPIR and would also make this PCPIR as hub of the entire East Coast of the country.

MRC

(Plastemart) -- By 2013, Braskem will have yet another alternative feedstock source besides sugarcane ethanol. The company will begin using naphtha made from post-consumption recycled plastic, to be supplied by Novaenergia, a company from the Wastech group located in Bahia state. Novaenergie is to build its first advanced recycling plant along in Salvador, Bahia.

Braskem is expected to initially source 1.4 mln ltrs pa of naphtha made from plastic waste, which will be processed at its Basic Petrochemicals Unit in the Camacari Complex. Installation of Novaenergia's recycling unit in Bahia will require investment of some R$ 25 mln, with startup expected by end of 2012.

MRC

(Arabian Oil and Gas) -- National Oilwell Varco (NOV), the largest US oilfield equipment maker, has announced it's purchase of Singaporean firm STSA for an undisclosed sum. STSA services subsea blowout preventers and related pressure control equipment for offshore drilling rigs in the Asia Pacific region. The company has 160 employees, and has two main manufacturing locations in Singapore and India.

In a company statement, NOV chairman Pete Miller said: ⌠We are pleased to add this fine organisation to NOV, and believe STSA will enhance the level of service and technology we can provide our customers in the BOP and pressure control equipment market, especially in the Asia Pacific. Earlier this month NOV purchased fiberglass pipe provider Ameron USD 772 mln.

MRC

(ICIS) -- The European propylene market is coming under intense downward pressure because of lower-than-expected demand. This is caused by technical problems at certain derivatives exacerbating an already weak situation on its key derivative polypropylene (PP), market sources said on Friday.

Reduced consumption means propylene supplies are building, and some producers and even some consumers are urgently looking to offload volumes. This is despite some cracker reductions that had been implemented in June and ramped up in some areas in July, to re-balance the ethylene market.
As a result, spot prices have been falling and latest indications suggest that even EUR 850-900/tonne (USD 1.214-1.285/tonne) CIF (cost insurance freight) NWE (northwest Europe) for polymer-grade is finding no buying interest.

Chemical-grade prices are being heard at around EUR 800/tonne on the inland market, while on the coastal market prices could be below EUR 700/tonne and near the propane value to make an export workable.

MRC

(Plastics Today) -- For its third acquisition in just four months, custom plastic profile extrusion processor Pexco will bring AllWest Plastics Inc. into its fold. AllWest's specialty is in custom profile extrusions for the aerospace and lighting industries, both of which are key end-use markets for Pexco. Selling AllWest is Scott Leishman, who acquired the company in 1986.

Pexco is headquartered in Atlanta, GA with nine processing facilities pread across the U.S. and Mexico. In April the plastics processor acquired Patrician Products in New York, and then in May closed on Multitube Medical Devices of Mexico.

AllWest Plastics is based in Huntington Beach, California. The company was created to extrude plastic commercial lighting fixture components but in the late 1980s and early 1990s entered the market for higher-performance applications, most notably components for the aerospace industry. Its airplane interior components now are marketed to Boeing, Airbus, Bombardier, and Embraer. The company also services the airline aftermarket through distributors and parts suppliers.

MRC