India's Binani Industries acquires Europe's fibreglass company

(binaniindustries) -- Binani Industries Limited, the holding company of USD 1.6 billion Braj Binani Group, today announced the acquisition of 3B - The Fibreglass Company (3B'), a Europe-based major in fibreglass products and technologies. Binani Industries Limited is one of India's leading global diversified business houses, with interests in cement, zinc, glass fibre, composites and ready-mix concrete.

The Braj Binani Group has acquired a 100 per cent equity interest in 3B from Platinum Equity.

Headquartered in Battice, Belgium, 3B is Europe's leading manufacturer of fibreglass for reinforcement of thermoplastics and thermoset polymer applications, and is a preferred supplier to global leaders in industries including automotive and wind energy.This acquisition is part of Braj Binani Group's strategy to expand its footprint in the global fibreglass market. It further augments the Group's technological and marketing capabilities in the fibreglass business.

Mr Braj Binani, Chairman, Binani Industries Limited, said, ⌠The acquisition, costing us EUR 275 million, will strengthen our group's core operations at a global level.

The group is present in fast-growth business segments, of which fibreglass is one. We are among one of the few groups globally that has a robust presence in this niche segment and we are working to accelerate our fibreglass operations further over the coming years. 3B is therefore a perfect match. We look forward to leveraging its expertise, strong R&D and excellent customer network.

MRC

(celanese) -- Celanese Corporation, a global technology and specialty materials company and a North American leader in Ethylene Vinyl Acetate (EVA) polymers, announced today that its subsidiary, Celanese EVA Performance Polymers Inc., will increase the price of all grades of Ateva EVA by USD 0.10/pound and all grades of LDPE by USD 0.06/pound, effective March 1, 2012 or as contracts allow.

Customers should contact their Celanese sales representative for more details.

Celanese Corporation is a global technology leader in the production of specialty materials and chemical products which are used in most major industries and consumer applications.

Celanese products, essential to everyday living, are manufactured in North America, Europe and Asia. Known for operational excellence, sustainability and premier safety performance, Celanese delivers value to customers around the globe with best-in-class technologies. Based in Dallas, Texas, the company employs approximately 7,600 employees worldwide and had 2011 net sales of USD 6.8 billion, with approximately 73% generated outside of North America.

MRC

(greiner-gpi) -- Division Kavo of Greiner Packaging is expanding its opportunities for the production of plastic bottles. With its newly developed machine kavoblow 200/80-R2, all commonly used plastics can be processed. The machine can be used for the production of containers with a volume between five milliliters and five liters. Its highly efficient, single-stage blowing technology combines flexibility and productivity.

Gunter Ausserwoger, Head of Division Kavo at Greiner Packaging, is pleased to announce: ⌠ With our new machine we are capable of producing higher quantities of plastic bottles and containers of all types, and with greater efficiency. It is setting new benchmarks for the prices of innovative, customized products. The machine, developed by Greiner Packaging in tandem with Mould & Matic, is named the kavoblow 200/80-R2. It went into operation in 2011, at our location in Wartberg on the Krems river (Upper Austria).

"The machine was developed over a period of about 18 months and both enterprises applied their main strengths to the project. Mould & Matic draws on long-term experience of more than forty years in mold construction and automation, while Greiner Packaging has gained its packaging know-how over a period of more than fifty years," says Ausserwoger. The result is a unique machine that works with top efficiency, setting new technological standards.

MRC

(chemmonitor) -- Sinopec, China reached new highs in generating of a range of products through 2011.

For instance, gasoline output amounted to 37.10 million tonnes, up by 3.43 percent from 2010.


Certain growth was also registered in diesel production. Last year output of diesel is estimated at 77.17 million tonnes. This represents an increase by 1.08 million tonnes year on year.

Ethylene output of the company through 2011 is assessed at 9.894 million tonnes, showing an increase by 0.835 million tonnes from 2010.

MRC

(chemmonitor) -- The Oslo-headquartered (Norway) chemical giant Yara International ASA (Yara) acquired an additional stake in Perth-based (Australia) fertilizer company Burrup Holdings Limited (BHL).

The buyer paid a total of USD 143 million, raising its ownership in BHL from 35% to 51%. Meanwhile, the remaining stake of 49% was bought by a division of Houston-based (Texas, USA) Apache Corporation - Apache Energy Ltd., which signed a new shareholders' contract with Yara.

The agreement allows Yara (75.5% ownership) and Apache (24,5% ownership) to work together on the planned Burrup Nitrates project involving the construction of a 330,000 mtpa technical ammonium nitrate (TAN) unit, to be later renamed into Yara Pilbara.



MRC