Market News Oil jumps more than three percent on Nigerian attack June 29, 2009 by plasticsinfomart Oil prices jumped more than 3 percent on Monday as one of Royal Dutch Shell’s offshore oil platforms was raided in Nigeria, affecting the largest oil producer in Africa. Light, sweet crude for August delivery gained 2.33 dollars, or 3.4 percent, to settle at 71.49 dollars a barrel on the New York Mercantile Exchange. The […] Read more »
Market News LyondellBasell: PP price rise to pass on higher monomer cost June 29, 2009 by plasticsinfomart LyondellBasell plans to raise the price of all polypropylene grades by EUR 125/t in Europe as of 1 July 2009. The company told PIE that the price rise is due to higher feedstock costs. Following the EUR 85/t hike in the price of propylene (C3) the contract notation for July 2009 is EUR 650/t. […] Read more »
Market News LyondellBasell: PE price increase in Europe June 29, 2009 by plasticsinfomart LyondellBasell plans to raise prices for all its PE grades in Europe by EUR 120/t, effective 1 July. The company said the price hike was necessary because of escalating feedstock costs. Source: nctww.com Read more »
Market News INEOS in key meetings with lenders over €7.2bn debt June 29, 2009 by plasticsinfomart Ineos is meeting its major lenders in London and New York to discuss revised covenant arrangements on its €7.2bn ($10bn) of senior and high yield debt, the company confirmed on Monday. The chemicals maker is discussing a revised business plan with representatives of 330 banks and bond holders having already agreed a package of amendments […] Read more »
Category Menu Machinery News German machinery orders at bottom of decline, says VDMA June 29, 2009 by plasticsinfomart The decline in orders for German plastics machinery has probably hit bottom, according to the machine manufacturers’ association, the plastics and rubber machinery sector of the the VDMA – the German Engineering Federation. Orders in 2008 reached a record level of Eur 5·6 billion but plummeted as the recession bit and in the first four […] Read more »
Environment Recycling News Modular unit enables PET recycling in your plant June 29, 2009 by plasticsinfomart A post-consumer food-grade PET recycling system that enables capacity to be expanded by adding modules, and can be stripped down and shipped to another location, has been put on worldwide sale by an American company. The equipment occupies less than 2,500 ft² and can process 4,500 tonnes a year. An add-on module can double this […] Read more »
Category Menu Product News Husky invests in PET education and awareness June 29, 2009 by plasticsinfomart Systems for PET preform moulding are big business for Husky of Canada, so the company is putting effort into resources to support public education about the safety, sustainability and recyclability of PET. A year ago it joined with other organisations in the PET business to publish the Facts on PET website which, alongside information on […] Read more »
Category Menu Product News Merquinsa and DuPont co-operate on TPU June 29, 2009 by plasticsinfomart Polyurethanes producer Merquinsa has joined with DuPont in a new renewably-sourced thermoplastic polyurethane. Merquinsa already makes polyester and polyether TPUs (its Pearlthane ECO range) based on renewable resources. Under the new co-operation with DuPont it is using DuPont’s Cerenol polyols as the soft segments in a new series of ECO TPUs. Cerenol is made from […] Read more »