Haitian confident about its future

(PlasticsToday) -- Its exports sank last year but the Chinese domestic market proved strong enough to drive sales and earnings higher for Haitian, the world's largest manufacturer of injection molding machinery. CTO Helmar Franz predicts continued growth for the company.

Haitian's (Ningbo, China) 2009 sales increased 4.5% versus 2008, with profits also up by 1.3% on sales of about 18,000 molding machines. According to the Association of the Plastics Industry China, the total value of output of the Chinese plastics processing industry declined just 0.2% in 2009. "Our goal remains to be the largest injection molding machine manufacturer in number of machines made and sales...e think we're number 3 or 4 in sales now. We predict we'll be number 1 in the net three years," said Franz.

For Haitian, almost as important to the continued level of business was Chinese processors' willingness to invest in domestically made processing machinery. Franz said that in 2008, about 49% of all processing machinery was imported to China; for 2009 that figure shrank to just 29%.


SABIC to expand PET unit in Saudi Arabia

DUBAI (ICIS news)--Saudi Basic Industries Corporation's (SABIC) expansion plan for its polyethylene terephthalate (PET) unit in Yanbu, Saudi Arabia, is on track to for completion in 2013, a source close to the matter said on Tuesday.

The expected new addition at Ibn Rushd aromatics complex, which has a total capacity of around 420,000 tonne/year, would be brought on-stream by 2013, as planned.

The proposed unit would lift SABIC's PET output to around 750,000 tonnes/year.

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%

"OMSK-POLYMER" declared bankrupt

OMSK (Kommersant) -- Omsk oblast arbitrage has declared Omsk-polymer Ltd., plastics and chemical feedstock manufacturer, bankrupt and included the monitoring procedure. Declaring was made by Russia Sberbank. Omsk-polymer owes this bank about 1,4 mln. Euro by credits. Total debt of the firm to the other 400 creditors forms over 5 bln. Rubles. Monitoring procedure will last till November 2010.

Last Thursday Omsk oblast arbitrage considered the declaration of Omsk department of Russia Sberbank. According to the data, in June 2006 Omsk-polymer received a 2,05 bln. Euro credit in the bank for equipment purchase for phthalic anhydride production. The equipment was formed as pledge. Due to delay of payments for 4 months, according to credit contract from December 31 2009, Omsk oblast arbitrage pronounced judgement about 1,4 mln. Euro debt collection from Omsk-polymer and arrested pledged phthalic anhydride production equipment.


LUKOIL to focus on "Zapadnaya Kurna - 2" oilfields

(RIA Novosti) -- LUKOIL Ltd. will not participate in tender for three big oilfields in Iraq starting on September 1, said Company's Head Vagit Alekperov this Tuesday.

⌠We are not to dispense, our interests are focused on ⌠Zapadnaya Kurna - 2 where we have strict duties - announced LUKOIL's President.


PTT to bring down operating rates at ethylene and propylene cracker

(plastemart) -- Thailand's PTT Polyethylene expects to decrease run rates by 5% from May at its steam cracker in Map Ta Phut. This will bring down operating rates to an average of 60% for June at the cracker with nameplate capacity of 1 mln tpa ethylene and 25,000 tpa propylene. The cracker has been running well below nameplate capacity since commercial operations started in April due to lack of feedstock ethane from feedstock supplier PTT Plc. 50% of the cracker's ethane is sourced from PTT's recently revamped No. 2 and No. 3 gas separation plants, where operations have yet to stabilize. PTT's No 6 gas separation plant, that is to supply 50% of the feedstock, has not been granted clearance to start from local authorities and the environment office.