Styron increases prices for polystyrene, copolymers and EPS in Europe

MOSCOW (MRC) -- Styron Europe, the global materials company and manufacturer of plastics, latex and rubber, and its affiliate companies in Europe have announced price increases for all polystyrene (PS), copolymer and expandable polystyrene (EPS) grades, reproted the company on its site.

Effective immediately, or as existing contract terms allow, the March contract and spot prices for the products listed below will increase as follows:

- STYRON general purpose polystyrene grades (GPPS), STYRON and STYRON A-TECH high impact polystyrene grades (HIPS) - by EUR50/tonne;

- MAGNUM ABS resins and TYRIL SAN resins - by EUR60/tonne;

- SCONAPOR expandable polystyrene (EPS) - by EUR60/tonne.

The price increase responds to the rising costs associated with the manufacturing of polystyrene and copolymers grades in Europe.

As MRC reported earlier, Styron recently introduced several new resins for medical equipment enclosures. These materials complement Styron's portfolio for enclosures providing resins that result in an economical system cost. The new advanced resins are EMERGE PC/ABS 7700 blend, which provide a well-balanced, cost-effective solution for powered medical devices offering ignition resistance and color stability over time, and MAGNUM 2642 MED and MAGNUM 8391 MED ABS resins, which are manufactured in a continuous mass production process that offers superior lot-to-lot consistency, exceptional natural resin whiteness, and excellent processing characteristics.

Styron is a leading global materials company and manufacturer of plastics, latex and rubber. Styron's technology solutions are used by customers in industries such as home appliances, automotive, building & construction, carpet, commercial transportation, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Styron had approximately USD6 billion in revenue in 2011, with 20 manufacturing sites around the world.
MRC

MOSCOW (MRC) -- Tessenderlo Group, a worldwide specialty company, has announced receipt of an offer for its compounds business from Mitsubishi Chemical, a global petrochemical company already present in the compounds industry, reported the company on its site.

The intended sale comprises four production sites in France, Poland and China and one R&D site in Belgium.
This transaction is subject to merger control approval.

The present divestment project is in line with the group’s strengthened focus on specialty products and services in the areas of food, agriculture, water management and valorizing bio-residuals.

As MRC wrote previously, in the first half of 2012 Tessenderlo Group officially inaugurated its new CTS production plant in Changsu, China. The new plant is aimed to produce high-performance, thermoplastic elastomers (TPEs) and slush moulding compounds for automotive applications.

Mitsubishi Chemical Corporation is Japan’s leading chemical company with chemistry -based
technology platforms for the development of a wide range of technologies and products in the fields of
performance products, healthcare, and industrial materials.

Tessenderlo Group is a worldwide specialty company, focused on food, agriculture, water management and on valorizing bio-residuals. Tessenderlo Group’s Compounds business unit has nearly 50 years’ experience and extensive know-how in formulation and production of thermoplastics, making it market leader in this sector. Its range of thermoplastic elastomers (TPE) and PVCs has been specially formulated to provide original solutions for applications in the building, automotive, cabling and many other areas.
MRC

MOSCOW (MRC) -- Shanghai- Oriental Energy has signed a license agreement with Dow Chemical Co.'s Union Carbide Chemicals & Plastics Technology LLC subsidiary for the use of Unipol polypropylene (PP) process technology for a plant to be built in Zhangjiagang in China’s Jiangsu Province, said Apic-online.

The 400,000-t/y PP plant will produce homopolymers, impact copolymers and random copolymers using propylene from Oriental’s propane dehydrogenation unit (see MRC news). A schedule for the project was not available.

"We chose Dow for our first (PP) unit because Unipol is the industry leading PP manufacturing technology," explained Mr. Wang of Oriental. "With Dow, we will exceed market demands” for these PP grades.

Tracy Cleckler, global commercial director for Dow Plastics Licensing & Catalysts, noted that Oriental will "be able to make PP resins that allow fabricators to run their lines at a faster rate, benefiting from the higher melt flow capability of some of the Unipol product grades."
MRC

MOSCOW (MRC) -- A Swiss investment group is suing specialist chemicals maker Arkema for 310 million euros (USD403 million), in a dispute over its purchase of the French company's loss-making vinyl division last year, Reuters.

Klesch Group, led by American investor Gary Klesch, said it had discovered significant gaps in the information presented by Arkema's management before it completed the acquisition in July of Kem One SAS, whose products are used in items ranging from pipes and packaging to paper.

"Had Klesch known of these misrepresentations at the time of negotiations it would not have entered into the transaction under the terms agreed," Klesch said in a statement on Monday.

Arkema rejected what it called "serious and false allegations", saying it was confident of demonstrating they were "totally unfounded".

Arkema said Klesch had access "in complete transparency and throughout the negotiations" to all the necessary information to assess the financial situation and prospects of the business.

The sale of the vinyls division led to a 505 million euro charge in Arkema's 2011 accounts as it refocused on products that are less sensitive to volatility in raw material prices and the economic cycle (see MRC news).

Formerly an adviser to President Gerald Ford and a bankruptcy consultant for the UK Treasury, Klesch built a reputation in London's financial sector in the 1980s and 90s as a defender of investor rights and was involved in high-profile corporate restructurings such as at Eurotunnel.

Klesch has lately switched his focus to commodity assets such as refineries, shipping firms and aluminium smelters.
MRC

MOSCOW (MRC) -- Rajoo Bausano, a joint venture between Rajkot-based Rajoo Engineers Limited and Italy's Bausano and Figli SPA, has developed a machine to manufacture 500 mm diameter PVC pipes, said Plastemart.

Company will export the fully automatic machine with output capacity of 1000 kg/hour to South Africa.

To produce advance technology pipe manufacturing machines company has joined hand with Italy based company 'Bausano' and form new company named Rajoo Bausano Extusion Pvt Ltd in 2010.

As MRC wrote earlier, Rajoo and Bausano formed Rajoo Bausano Extrusion Pvt. Ltd., and put operations to commence in 2011, supplying pipe and profile lines, including wood plastic composite technology, in India, Africa, and South Asia from Rajkot.

Rajoo Engineers Limited has 49 % share in the joint venture and Italian company has 51% share. Under this JV, Italian company provides technology and Rajoo Engineers produce the machine and market.
MRC