MBA Polymers gets more funding for plastics recycling

(Recycle) -- MBA Polymers has pledged $6.6 million to begin boosting recyclable plastic materials being used in household goods.

With its base in recovering engineering plastics from items such as appliances, vehicles and computers, the firm has raised more than $6.6 million towards an overall goal of $25 million. The funding will be used to increase the firms recycling of plastic taken from household items. According to a SEC filing, the investments have so far been gleaned from Honeywell Capital Management, Citi's Sustainable Development Investments and Less Plastics Limited based in Hong Kong.

Founded in 1994, the group maintains its operating facility in California. MBA Polymers is responsible for processing millions of pounds of plastics waste every month. In its last attempt to secure funding, the firm was able to raise $40 million back in 2008.

MRC

(Azom) -- Pinnacle Polymers LLC, a major polypropylene (PP) manufacturer based in Ridgefield, Conn., has reached new heights of aesthetics and quality by upgrading to Millad NX8000 technology from Milliken Chemical, a division of Milliken & Company.

Pinnacle's two new PP3 random copolymer grades offer customers superior aesthetics at an affordable price point. Besides giving housewares and other products a dramatically brighter and cleaner look, Pinnacle 5135C3 and 5155C3 resins enable shorter cooling times and a broader processing window, which can provide energy savings and cycle time reductions.

MRC

(Bloomberg) -- Exxon Mobil Corp. plans to shut a crude unit at its Fawley refinery, the U.K.'s biggest, for maintenance early next year, two people with knowledge of the work said.

The halt is scheduled to start in the first quarter and last about four weeks, the people said, declining to be identified because the information is confidential. A powerformer, which makes blending components for gasoline, will also be idled for repairs during the same time, they said.

The refinery can process about 320,000 barrels of oil a day and supplies 15 percent of Britain's petroleum products, according to the country's Petroleum Industry Association. Refiners regularly halt equipment for inspections and repairs to prevent problems and ensure efficient operations.

MRC

LEVERKUSEN (LANXESS) -- LANXESS announced yesterday its goal to increase its leading earnings indicator by roughly 80 percent in the coming five years. The specialty chemicals company is targeting EBITDA pre exceptionals of approximately EUR 1.4 billion in 2015 and confirmed its forecast of roughly EUR 800 million EBITDA pre exceptionals in 2010. LANXESS plans to achieve its mid-term earnings target through a dual-track growth strategy of organic and external growth. Organic growth will play the more dominant role.

⌠We are poised to enter a new era of growth and have set an ambitious target, which we can achieve based on the strategic position of our business portfolio, said LANXESS CEO, Axel C. Heitmann, at the Group's fourth Media Day in Dusseldorf. ⌠Our track record reflects our operational strength. By the end of this year, we will have increased EBITDA pre exceptionals by roughly 80 percent since 2004, in spite of the global economic crisis.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC

(plastemart) -- In a bid to exploit rapid demand growth in China, Thailand's PTT Chemical is seeking an opportunity to invest in new chemical production in the country. The company, South East Asia's largest olefin maker views China as its largest export market, and wishes to join the ranks of the major global petrochem makers who have a presence in China.

However, PTT's investment plans will depend on market demand with a focus on the lifestyle of its biggest markets - Asean and China. The new criteria for investment will require the adaptation of human management as a novel way of thinking is needed to serve the new policy of the company. Its new investment strategy allows various options, from joint ventures, mergers and acquisitions to green field investment.

Russian polymers' market prospects are going to be discussed at Russian Polymers Summit on October 14, 2010 organized by ICIS and MRC. For more information please refer to http://www.polmersummit.ru/ Summit official web page.

MRC