Chinese Wanhua purchases Hungarian BorsodChem

(prw) -- The complete merger of China's Wanhua Industrial group with the Hungarian PVC and chemicals company BorsodChem is rapidly becoming a reality as minority shareholder Wanhua prepares to buy out BorsodChem's current owners.

The move, agreed by both firms, will give the Chinese industrial group a 100% stake in Kazincbarcika-based BorsodChem and create what will be the globe's third biggest isocyanate manufacturer.

Details of the Wanhua takeover were given to the BorsodChem workforce in a joint letter from the heads of both companies, reported the Hungarian news agency MTI. Employees were told Wanhua would give BorsodChem responsibility for the operations of the new group in Europe, Africa and the Middle East.

Before the deal (see mrcplast.com from July 1) the negotiations were about just a 38% stake of the Hungarian company.

MRCMRC Reference

BorsodChem. The share in the Russian market in 2008:
PVC - 2.5%;
PVC-S - 2.6%.

Annual growth of sales in Russia over the 5 years:
PVC - 201%.

Supply by processing technologies:
profile extrusion;
compounding.

(Bloomberg) -- Arkema SA, the French chemical maker spun off from Total SA, raised its annual earnings forecast for the second time in 2010 as growth in China and the purchase of an acrylics unit helped second-quarter profit recover.

Second-quarter net income was 119 million euros compared with a loss of 114 million euros a year earlier. EBIDTA surged to 241 million euros, or 15 percent of sales, from 70 million euros. Revenue rose 38 percent to 1.61 billion euros. Excluding the effects of acquisitions or disposals, sales increased 27 percent.

MRCMRC Reference

Arkema.

The share in the Russian market in 2008:

PVC - 0.2%;

EVA - 1.1%.

Annual sales growth in Russia, during the recent 5 years:

PVC - 69%;

PE - 121%.

Imports by polymers processing technologies:

coating;

cable extrusion.

(BusinessOnline) -- In Q2 2010, Kazanorgsyntez's profit amounted to RUB 216m, which was 70% less than Q1 figures.

Including the fact that in Q1 2009 the company generated RUB786m profit, it is obvious that the fgures are more than three times down.

However, Kazanorgsyntez generated RUB938m profit in H1 2010.

MRCMRC Reference

The share in the Russian market in:
LDPE в─⌠ 26.7%;
HDPE - 31.0%.

Leader in polymers processing technologies:
film extrusion;
pipe extrusion;
EBM;
injection molding

(prw) -- Ineos Group has agreed to sell its global films business to Bilcare, the Indian-based group which provides pharmaceutical packaging which enables drug stabilization and protection. The transaction price is approximately ┬100m.

The deal comprises the business, assets and personnel related to Ineos Films operations located in North America, Europe, and Asia. The two companies said the agreement ⌠brings together complimentary capabilities and synergies of two leading global businesses.

MRCMRC Reference

Ineos is a petrochemical group.
In Russia Ineos's interests are represented by Ineos Polyolefins and IneosChlorVinyls.

The share in the Russian market in 2008:
PVC - 4.5%;

polyethylene - 1.9%
(HDPE - 2.8%, LDPE - 1.2%);
polypropylene - 1.4%
(PP-random - 22.1%, PP-impact - 2.0%);
polystyrene - 0.9%.

Imports by polymers processing technologies:
profile extrusion;
pipe extrusion;
film extrusion;
injection molding.

(plastemart) -- Huntsman Corp. has agreed to acquire the chemicals business of Indian ethylene oxide derivative maker Laffans Petrochemicals Ltd. Financial terms of the agreement were not disclosed. The company expects to close on the deal in 2011. When completed, the chemical business will be integrated into Huntsman's performance products division.

The acquisition is subject to certain terms and conditions and is expected to occur in the first half of 2011.

The acquisition is in line with Huntsman's strategy to meet the demands for other amines in Asia.

MRC