BASF completed ┬3.1bn acquisition of Cognis

(ICIS) -- BASF has successfully completed its ┬3.1bn ($4.1bn) acquisition of specialty chemicals producer Cognis, the German chemicals major said on Friday. The equity purchase price was ┬700m, including net financial debt and pension obligations.

BASF said it intended to fully integrate most of Cognis into its performance products segment. Detailed integration plans would be developed by the end of the first quarter of 2011, it added. Completion of the structural integration was targeted for the end of 2011, BASF said.

BASF said that the acquisition of Cognis would allow the group to achieve a leading position in personal care ingredients and strengthen its position in value-added products for home care.


PVC-S imports to Russia in November fell by 38%

MOSCOW (MRC) -- In November the Russian companies reduced the volumes of PVC-S imports to the level of 25,1 KT which is 38,2% less than October supplies, according to MRC DataScope. Seasonal reduction of demand for finished products resulted in decreased volumes of suspension PVC consumption. Consequently the import supplies considerably fell down.

During January-November 2010 the volume of imported PVC-S exceeded 321 KT which is 124% more than the same data last year. Still main volumes of import supplies are that of American PVC-S. In November the volumes of imported American PVC-S made 10,7 KT (42,5% of total November supplies).

For more detailed information about PVC market, see MRC DataScope reports.


LANXESS started up new plant for ion exchange resins in India

(LANXESS) -- Specialty chemicals group LANXESS opened Asia's most state-of-the-art plant for ion exchange resins in India. The new plant was constructed over a period of two years in the chemical park in Jhagadia in the Indian state of Gujarat.

It boasts an annual capacity of 35,000 metric tons. Around 200 employees from the Ion Exchange Resins (ION) business unit manufacture products for industrial water treatment for the semi-conductor and pharmaceutical industries, the food sector and the power industry.

The opening marked the successful completion of the second expansion phase in Jhagadia. The first project phase, which was completed in March of this year, saw a rubber chemicals production plant taken into operation. Overall, LANXESS has invested around EUR 50 million in the site to date.


Bayer plans ┬1 billion investment in China

(Plastics Today) -- One of the leading suppliers of the materials, Bayer MaterialScience, is shifting the headquarters of its global polycarbonate activities from the company HQ in Germany to Shanghai. The company is investing more than ┬3 billion in its Shanghai facility on a number of projects, with at least a third of that in its plastics, coatings and adhesives business unit.

Bayer's polycarbonate (PC) is marketed under the Makrolon brand name. This new ┬1 billion in announced capital expenditures for Bayer's Shanghai plant will significantly expand the company's polyurethane (PUR) and PC capacities in China, as the supplier aims to increase its group sales in Greater China to around ┬5 billion by 2015.

About half of those sales are to be driven by its MaterialScience group, the name for its plastics, adhesives and coatings business. To put that in perspective, Bayer MaterialScience's total FY 2009 sales were ┬7.5 billion, of which Greater China sales were ┬2.1 billion. The MaterialScience unit accounted for ┬1.2 billion.


Guanwei Recycling Corp. achieving full year sales forecast

(Market Wire) -- Guanwei Recycling Corp., China's leading clean tech manufacturer of recycled low density polyethylene (LDPE), reported that based on strong October and November sales, and a continuing robust market for recycled LDPE, it is highly confident of achieving its previously announced sales goal for the full year.

As previously reported in its third quarter report for the period ended September 30, 2010, the Company sold nearly 31,000 tons of recycled LDPE through the first nine months of the year and forecasted that full year sales of recycled LDPE would reach or exceed 42,000 tons.

"Since then," stated Mr. Chen Min, Chairman and CEO of the Company, "through November, we have sold an additional 8400 tons of self-manufactured product and December sales are continuing on track. As we approach year end, we therefore remain very confident of another strong sales advance this year in line with our forecast."

Guanwei Recycling Corp. is China's largest manufacturer of recycled low density polyethylene (LDPE). Adhering to the highest "green" standards, it has generated rapid growth producing LDPE from plastic waste procured mostly in Europe for sales to more than 300 customers in ten different industries in China.