Toray Plastics (America) debuts advanced compostable bio-based films

(Plastics Today) -- Toray Plastics (America) Inc., a manufacturer of precision-performance polyester and polypropylene films, will be introducing its new Ecodear advanced compostable bio-based films. Ecodear is made with polylactic acid resin. The new, thin bi-axially-oriented Ecodear films include a metallized heat-sealable film that provides moisture and oxygen barrier protection and a clear film for use as an inner seal layer or a printweb.

Toray has been researching and developing bio-based films since 2007. "Interest in compostable films made from renewable resources continues to grow," says Franco Chicarella, Product Development Manager, Torayfan Polypropylene Film Division.

Toray Plastics Inc. manufactures polyester and polypropylene films for flexible and rigid packaging, lidding, graphic, industrial, optical, and electronic applications. The company is a subsidiary of Toray Industries Inc.


SABIC performance triggers possible loan restructuring

(Plastics News) -- Saudi Basic Industries Corp. is considering restructuring the loans held by its Sabic Innovative Plastics unit due to changes in global borrowing.

⌠The environment for restructuring the loan within Sabic IP is reasonable now, claimed Sabic vice-chairman and CEO Mohamed al-Mady. ⌠We will start the process, and if we find we are getting a good deal, we will conclude. Otherwise, we are not in a hurry to finalize.

The Riyadh-based company reported third quarter profits of $1.4 billion, a jump of 46 percent, which Sabic says is the result of higher prices and increased demand as well as ⌠improvements in the performance of overseas affiliates, according to a statement.

Al-Mady praised the efforts of all employees, which he said had contributed to continued improvements of performance, rationalization of expenses and the increase of production capacity. All of which will have a positive effect on future corporate results, he added.


Tessenderlo building compounding plant in China

(Plastics News) -- The Tessenderlo-based compounder's CTS Cousin-Tessier unit announced Oct. 18 that it will build a plant for both thermoplastic elastomers and PVC slush compounds in Changsu, near Shanghai.

Production at CTS Automotive Compounds (Changsu) Ltd. is scheduled to start in the Fall of 2011.

The plant will have three compounding lines, and it will produce CTS Tefabloc TPE compounds for airbag covers, sealing applications, cables and interior parts. It also will make Marvyflo PVC sluch molding compounds for dashboards and door panels.

CTS Cousin-Tessier currently has plants in France and Poland.

Albert Vasseur, Tessenderlo's director of plastics converting, said: ⌠With our knowhow and expertise in working with customers in the automotive world, we are confident that we can grow further into becoming a leading supplier of automotive specialty compounds in China.


Russia's TNK-BP to pay $1.8 bln for BP assets

(Asia Yahoo News) -- Russia's TNK-BP, half-owned by British major BP, said on Monday it would acquire BP's production and pipeline assets in Vietnam and Venezuela for $1.8 billion.

The company will use its own funds to finance the new acquisitions, TNK-BP said in a statement.

"The acquisitions in Venezuela and Vietnam mark a milestone in TNK-BP's strategic expansion in the global energy market," said Mikhail Fridman, TNK-BP's executive chairman and one of its four Russia-connected shareholders.

Taken together, the Vietnamese and Venezuelan assets gave BP net reserves of 270 million barrels of oil equivalent , and its share in production from the Venezuelan assets is 25,000 boe per day, BP said in a separate press statement.

Last year TNK-BP produced 1.89 million boe per day.


Small fire at Petro Rabigh PE plant

(Arabian Oil Land Gas) -- Rabigh Refining and Petrochemical Company (Petro Rabigh) informed about small fire at one of the company's polyethylene units at its complex located in Rabigh, on the west coast of the Kingdom.

The company said in statement published on the Saudi Stock exchange Tadawul, that the fire sparked on Saturday afternoon at one of the compressors of the polyethylene unit number one, and was controlled immediately.

Petro Rabigh produces 900,000 t/y of polyethylene, including 300,000 t/y of HDPE and 600,000 t/y of LLDPE.

The company is a joint venture between Saudi Aramco (37.5%) and Sumitomo Chemical (37.5%), 25% of the company is listed in the Saudi Stock Exchange (Tadawul).