Net profit at Formosa Petrochemical Corp soars more than threefold

(plastemart) -- Taiwan's largest petrochemical conglomerate- Formosa Petrochemical Corp has announced that its net profit soared more than threefold to NT$10.97 bln in Q1-10 from NT$2.66 bln in Q1-09. Revenue for the quarter grew 67.2% year on year to NT$198.27 bln, and its operating profit rose 21.6% year on year to NT$11.9 bln.

In 2009, the firm's net profit was NT$39.19 bln, 158% more than the NT$15.19 bln it recorded for 2008, while its revenue fell 27.6%, according to an earlier report from China Knowledge.

MRCMRC Reference

Formosa

The share in the Russian market in 2008:
PVC-S - 3.0%;

PP - 0.4%.

Annual growth sales in Russia :
PVC - 79 % (over the last year) ;

PP - 272 % (over the last 3 years).

Supply by processing technologies:
profile extrusion

film extrusion

(plastemart) -- DuPont Packaging & Industrial Polymers is announcing a price increase for Europe, Middle East and Africa of 0.15 Euro/kg for its DuPont Elvax (ethylene vinyl acetate copolymers) and DuPont Elvaloy AC (ethylene acrylate copolymers) resins, effective May 1st, 2010 or as contracts permit. This increase is needed to help ensure the continuous supply required to support current and future market demand for high quality ethylene copolymer.

MRC

(plastemart) -- Preferring to strengthen production at home, South Korea's Honam Petrochemical has called off plans to build a US$2.6 bln JV petrochemicals complex in Qatar with state-energy company Qatar Petroleum (QP). The project is not likely to be revived in the short term as the company plans to expand its existing facilities. The project was planned to be a 70:30 joint venture with QP and Honam for a petrochemicals complex at Mesaieed to include a 1.3 mln tpa ethylene cracker and 700,000 tpa polypropylene unit.

MRC

MOSCOW (MRC) - In 2009? Investments into film production fell by 44% (about USD32 mln.) comparing with year 2008 - according to MRC Annual reports.

Last five years in Russia production of various films (multi-layer, shrinkable, stretch and others) was developing actively. Multi-layer film productions is the most attractive sector, more than USD234 mln. Were invested there in 10 years.

Biaksplen is unbeatable leader in this market, investing over USD67 mln. In 2009 Em-Plast, Polymerkamainvest, Danaflex, Polymer (Desnogorsk), Kopeysk Plastic are among 5 leaders in multi-layer film production equipment supply.

Investments of Em-Plast formed almost one-third of all the equipment in 2009. Company continues to expand 5-layer biaxially-oriented srinkable film production (with Techno Coating Engineering equipment).

Today production completely covers domestic market consumption. National companies have to focus on innovative products development for expanding their share in the market. Danaflex surves as an example of this strategy: in 2010 it will launch nanotechnology-based high-barrier polymer film production plant.

MRC

Detailed analysis of events happened in Russian polymer market in 2009 and forecasts for development of this market in 2010 are available in MRC Annual reports.

(prw) -- The former Soviet state of Turkmenistan is investing ┬40m to construct a biaxially oriented polypropylene (BOPP) film plant at the country's Turkmenbashi oil refinery.

The facility, using French technology supplied by the company DMT, will manufacture a range of products for both the country's growing domestic market and export, reports the national Turkmeninform news service.

The Turkmen BOPP unit will be supplied with polymer from an adjacent 90,000 tpa PP plant established in the 1990s with Japanese technology. Construction work on the film facility began in 2008.

The BOPP plant, with a capacity of 21,000 tpa, is scheduled to turn out a range of 12 different packaging and other film products aimed at sectors including food, agriculture, tobacco, and construction. Some will be used for labels and adhesive tape applications. This unit will be Turkmenistan's first captive downstream outlet for polypropylene.

MRC