is a global distribution & trading company in plastic raw materials with offices and operations in Europe, Middle East, Africa and Asia. The network structure enables each individual branch to operate in line with the latest short-term trends within world and regional markets.
NCT's strategy is to generate added value to the chain between producers and end-users of commodity polymers. NCT is an ISO Certified Company who trades in polyolefin’s, polystyrene, pet, pvc and other plastic raw materials.
Treofan: Sale of Italian CPP plant to local investors
on 02-02-2010 07:41
Source: PlastEurope (02/02/2010)
High performance BOPP film manufacturer Treofan has sold its production site and assets in Lamezia, Calabria / Italy, to local investors, providing a cash benefit of around EUR 2m to the company. The plant produced cast polypropylene (CPP) and did not fall in line with the company’s focus on high performance BOPP labels and speciality packaging, technical films and tobacco films.
Treofan has completed sale agreements with two investors, who acquired the plant machinery and the real estate respectively.
Braskem buying Sunoco's polypropylene business for $350 million
Brazilian plastics giant Braskem SA has made a major move into the North American market, buying the polypropylene business of Sunoco Inc. for $350 million in cash.
The deal was announced Feb. 1 and is expected to close by April 1. São Paulo-based Brazil will take on PP plants operated by Philadelphia-based Sunoco in Marcus Hook, Pa.; La Porte, Texas; and Neal, W.Va., which have combined annual capacity of 2.1 billion pounds. The sale also includes Sunoco’s Research and Technology Center in Pittsburgh.
The Sunoco PP business “has very competitive margins and access to competitive feedstock,” Braskem Chief Financial Officer Carlos Fadigas said in a Feb. 1 conference call.
The purchase “is in line with our strategic plan of establishing a foothold in the U.S. and enhancing the market for greenfield projects in Latin America,” he added. The U.S. market was attractive to Braskem, officials said, since it is the world’s largest consumer of PP and is expected to grow at a rate of at least 1.3-times GDP for the next several years.
In a news release, Sunoco Chairman and CEO Lynn Elsenhans said the sale “produces value for our shareholders by monetizing a business that has not been able to meet its cost of capital.”
Dow attracts bids for styrene unit from buyout firms to a competing busines...
on 02-02-2010 07:35
Source: Plastemart (02/02/2010)
Dow Chemical Co. aims to sell Styron Inc, its styrene business by the end of March after an eight-month process by getting private equity approaches. After holding second-round bids last month, Dow is opening Styron’s books for further due diligence to whittle down the number of remaining suitors. Styron, with sales of US$5 bln valued by Dow between US$1-2 bln.
As interest in acquisitions is rising in the chemical industry, BASF plans to go the same way as it seeks to end an almost 3 year quest to sell unwanted styrene assets. Selling styrene assets will speed up BASF’s move away from less-profitable commodity products at a time when rivals in the Middle East rivals expand capacity. BASF’s styrenics unit generates US$4.2 bln in sales and is expected to be sold for €1-1.5 bln. For BASF, finding a buyer would mean avoiding a prolonged exit via a partnership agreement, viewed as a consolation move. Talks are under way with a potential partner for a styrene joint venture, as a prelude to exiting the market. Antitrust rules could prevent European rivals Total SA and Ineos Nova LLC from bidding. Petroleum Investment Co. of Abu Dhabi last year acquired Nova Chemicals Corp. of Canada. Saudi Basic Industries Corp. aims to become the world leader in chemicals by 2020.
Internet headlines only
on 01-02-2010 12:50
Source: headlines on internet
01 Feb 10 10:58 South Korea’s January petrochemical exports surge 76%
01 Feb 10 10:35 India’s IOC eyes naphtha cracker start-up in March
01 Feb 10 10:18 Sinopec, SABIC eye 60% run rate at Tianjin cracker - sources
01 Feb 10 04:56 China’s Lanzhou PC to restart No 1 cracker 2 February
01 Feb 10 03:18 Thailand’s PTT shuts new ethane cracker on technical woes
29 Jan 10 22:35 US Westlake plans to restart Louisiana cracker over weekend
Saudi Aramco plans to invest around US$120 bln over the next 5-6 years
on 01-02-2010 12:49
Source: Plastemart (1-2-2010)
A investment of almost US$120 bln has been planned by state owned Saudi Aramco over the next 5-6 years to develop projects in the oil and petrochemicals sector. Around US$60 bln is planned to be spent by the oil sector, while the remaining investement would be for the development of petrochemcial projects and foreign investment. After successful completion of several refinery expansions, the company is working at meeting the country's gas demands in addition to moving downstream into production of petrochemicals.
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