July 9, 2012
Evonik Industries' decision to locate a new nylon 12 resin plant in Singapore is featured in this week's Material Insights video. Officials with Evonik in Essen, Germany, said that the new plant is needed to handle increased demand from auto and other market. It’s expected to open in 2014 with annual capacity of almost 45 million pounds. They added the firm's damaged feedstocks plant in Marl, Germany, should reopen later this year. A pair of deals involving Dow Chemical Co. also are featured in this week’s video. Midland, Mich.-based Dow recently sold its TP-brand plasticizer business to HallStar Co. of Chicago. Dow also has formed a joint venture with Turkish acrylic maker Akso to develop products for the carbon-fiber composites market. The video wraps up with looks at two more acquisitions. BASF has purchased Iowa-based polyurethane systems maker ITWC, including plants in Iowa and in California. And French polymer formulator Axson Group has bought epoxy technology firm Nanoledge from technology investor Telesystem of Montreal.