SABIC to join automotive innovation JV INPRO

(SABIC) -- Saudi Basic Industries Corporation (SABIC) entered into an agreement to purchase an equity stake in INPRO, a joint venture dedicated to collaborative innovation in automotive production. SABIC will join Daimler, Siemens, ThyssenKrupp and Volkswagen as equity owners in the group. The Federal State of Berlin has also held shares in INPRO since its founding in 1983.

SABIC comes to the JV with 45 years' experience as a leading industry pioneer in automotive engineering plastics material technologies and application development, primarily through the dedicated automotive division of its Innovative Plastics strategic business unit, and will fully participate in INPRO's joint innovation projects. Joining the INPRO JV reflects SABIC's decades-long record of proactive engagement with the industry to advance lightweight material innovation across the world and to help OEM customers solve some of their most critical challenges.

INPRO develops innovative technologies for lightweight manufacturing and zero-defect production of automobiles. The group's R&D focus includes the development of new production technologies for future electric and hybrid vehicles. With the realization of new innovative computer-based software tools, INPRO aims to shorten time-to-market and enhance the overall energy efficiency of automotive production.


BASF again included in both Carbon Disclosure Project indices

(BASF) -- The international investor group Carbon Disclosure Project has again selected BASF for inclusion in the Carbon Disclosure Leadership Index (CDLI) and Carbon Performance Leadership Index (CPLI). According to CDP BASF is among the leading companies in the world in the category of climate change. The CDLI contains 52 companies that disclose their data in a particularly transparent and comprehensive manner. The CPLI represents 29 companies based on their exemplary performance in terms of climate change - for example with regard to their strategy, their stakeholder communication, their management system and their reduction of greenhouse gas emissions. The Carbon Disclosure Project (CDP) represents 551 institutional investors holding $71 trillion in assets under management. Investors use CDP indices as assessment tools.


Saudi Aramco should clarify the new cost of the gas feedstock - SIIG

(Arabian oil and gas) -- Saudi Industrial Investment Group (SIIG) says Saudi Aramco should clarify the new cost of the gas feedstock, to allow local petrochemical companies to make future plans.

Suliman Mohammed al-Mandeel , delegate member of SIIG said in a TV interview with the al-Arabiya TV Channel that as Saudi Aramco is due to increase the gas feedstock by next year, it is better to clarify the cost now.

⌠Decision makers should take into consideration the recent international development of gas exploitation mainly related to the shale gas, as it gives competitive advantage for US and European petrochemical companies compared to before where high feedstock cost gave strong advantage for local producers over western companies, al-Arabiya quoted al-Mandeel as saying.


DuPont won a lawsuit against Korean producer Kolon Industries

(ICIS) -- US-based DuPont won a lawsuit on Wednesday for USD 919.9m (EUR 671.5m) against Korean producer Kolon Industries, which was accused of stealing trade secrets about the company's Kevlar aramid fibre. A jury found that Kolon was liable for misappropriation of trade secrets, and that its actions were willful and malicious, DuPont said.

"The size of this award is one of the largest in defence of business processes and technologies," according to a statement by Thomas Sager, DuPont general counsel.

In 2007, DuPont became concerned about Kolon's activities and notified the Federal Bureau of Investigations (FBI), the Department of Justice and the Department of Commerce.

An FBI investigation revealed that in August 2008, three Kolon managers had flown to Richmond, the site of DuPont's Kevlar technology and business headquarters. According to the investigation, the managers flew to Richmond to obtain confidential information about DuPont process technology.
Later, the federal government charged former DuPont employee Michael Mitchell on a count of stealing trade secrets and a count of obstructing justice. Soon afterwards, Mitchell agreed to plead guilty. He was sentenced to 18 months in US federal prison.


Spot prices of isocyanates in the Middle East and Africa have fallen this week

(ICIS) -- The spot prices of isocyanates in the Middle East and Africa, which include the prices of polymeric methyl di-p-phenylene isocyanate (PMDI) and toluene di-isocyanate (TDI), have fallen this week in line with the weaker China and European markets, industry sources said on Thursday.
The prices are expected to decline further in the Middle East in the next few weeks, but those in the African market are expected to stabilise because of upcoming seasonal downstream demand, the sources added.

The spot prices of PMDI and TDI in the Gulf Cooperation Council (GCC) region are lower by USD 50-60/tonne (EUR 37-44/tonne) or 2.4-2.5% to an average of USD 1,990/tonne CFR (cost & freight) and USD 2,390/tonne respectively, after being stable for the past three weeks, according to ICIS data.

Poor market fundamentals in the leading Chinese and European markets have led producers from these regions to seek outlets in the Middle East and Africa to relieve their high inventory levels, regional players said.