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Shell still mulling feedstock plant

AKRON, OHIO — An extension of Shell Chemical LP's decision on building a plastic feedstock plant in the Pittsburgh area is featured in this week's Material Insights video. Also this week, we report potential golden parachute payments for Spartech Corp. executives, as well as news of a bioplastics deal.

Published: February 19, 2013 1:09 pm ET
Updated: February 19, 2013 1:20 pm ET

AKRON, OHIO — An extension of Shell Chemical LP's decision on building a plastic feedstock plant in the Pittsburgh area is featured in this week's Material Insights video.

Houston-based Shell was given the six-month extension by Horsehead Corp., which owns the land in Monaca, Pa., where Shell has expressed interest in building an ethylene cracker and possibly polyethylene production assets. A Shell spokeswoman said the firm has many hurdles to clear before it can make an investment decision.

Potential golden parachute payments for Spartech Corp. executives also are featured in this week's video. Spartech CEO Victoria Holt and four other executives could receive almost $11 million in total if the payments are approved as part of Spartech's merger with PolyOne Corp. Spartech shareholders will vote on the payments and on the merger on March 12.

The video wraps up with news of a bioplastics deal. Green Dot Holdings LLC has bought the bioplastics unit of MGP Ingredients Inc. for an undisclosed price. The deal includes a bioplastics plant in Onaga, Kan. Green Dot was formed in early 2011 by former Dow Chemical Co. executive Mark Remmert and several partners.

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