Sibur to build the biggest petrochemical complex in Russia

MOSCOW (SIBUR) -- Federal authorities have accepted Sibur's project of a new polypropylene production complex in Tobolsk, Siberia. The project is admitted to be fully respectable to all the egineering conditions and appropriatable to all the Federal standards.

The complex will produce 500,000 tons of polypropylene a year. Its annual output of polypropylene, used in food containers and textile fibers, is now 220,000 tons. It is expected to be launched at full capacity at the end of 2012.


MRC Reference

Sibur Holding is the largest Russian petrochemical group.

Gazprombank (70% minus 1 share);
Gazfond (25% plus 1 share);
5% reserved for option program.

The share in the Russian market in 2008:

polyethylene - 11.1%;

polypropylene - 16% (including PP-random - 11.2%);
ABS - 5.2%;
PVC - 8.1%.

French authorities put a veto on trading of baby bottles made of BPA-based products.

(plastemart) -- A ban on manufacturing, importing, exporting and selling "baby bottles made of BPA-based products" has been approved in France by a majority of deputies this week. The government bill named "Grenelle 2" (which details the "national commitment for the environment"). But for actual implementation, bills need to go through review and vote in the Assemblee (French parliament), which was accomplished this week, when 314 French deputies approved the "Grenelle 2" against 213 deputies that disapproved this bill.

After this first national ban on baby bottles made with BPA-based products, further initiatives could reinforce the fight against BPA in France. The author of the related amendment, French deputy Mr.Bapt, already detailed his goal: to achieve "the total ban of BPA in food packaging designed for children up to 3 years old" taking the example of a similar ban already in place in Denmark. The main threat cited in the amendment detailing the ban is BPA's effect on disrupting the endocrine system. The French amendment defining the ban of selling baby bottles made of BPA-based products includes a requisite for the French government to accurately follow the progress in INSERM - French National Institute for Health and Medical Research's study. The French government has also been asked to inform the French parliament of its initiatives (past and future) towards reducing the human exposure to endocrine disrupting substances; thus including not only bisphenol-A, but also phthalates, the most widely used substances as PVC plasticizers.


Indorama Ventures will expand its production in Russia

(plastemart) -- Indorama Ventures, the world's second largest PET producer, saw a 20% growth in net profits this year following its acquisitions in Europe. The company is keen to acquire more polyester plants in Russia, India, China and Brazil with the expectation of a adding to profits. The company expects to start the new projects in Q3 with funding to finance the projects from the company's internal working capital and bank loans. The three projects, worth Bt2 bln, were acquisition of PTA and PET plants in Italy from Dow Chemical, expansion of the Rotterdam PET plant by 190,000 tpa to total capacity of 390,000 tpa, and energy integration at Rotterdam through the acquisition of a co-located power and utility plant from Air Products.


FL Plastics increases investments into output capacities

(prw) -- Norwich-based bottles and closures manufacturer FL Plastics has invest more than 250,000 pounds to increase output capacity of toiletries, cosmetics, personal care and pharmaceuticals products.

Asset finance specialist Lombard helped the company purchase a new Nissei injection stretch blow moulding machine, which has a capacity of 35,000 bottles per day.

According to FL Plastics managing director, Geoff Fitzgerald-Lombard, the company has maintained its order book despite tough market conditions and that by making the investment ⌠we will be able to exploit new opportunities more readily.


Dow 113th Annual stockholder meeting elected new Board of Directors

(Dow) -- Stockholders at The Dow Chemical Company's 113th Annual Meeting today elected Arnold A. Allemang, Jacqueline K. Barton, James A. Bell, Jeff M. Fettig, Barbara H. Franklin, John B. Hess, Andrew N. Liveris, Paul Polman, Dennis H. Reilley, James M. Ringler, Ruth G. Shaw and Paul G. Stern to the Company's Board of Directors for one-year terms.

Stockholders also ratified the appointment of Deloitte & Touche LLP as the Company's independent auditor for 2010.

In other business, preliminary voting results indicate that stockholders have approved a Company-sponsored proposal lowering the threshold required for stockholder-initiated meetings from 50 percent to 25 percent.

Preliminary voting results also indicate that stockholders have defeated three stockholder-sponsored proposals: one regarding environmental remediation, a second on executive stock retention and a third on executive compensation.

MRCMRC reference