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Fire injures 14 at Formosa Plastics plant in Texas

AKRON, OHIO — A fire that injured 14 at a Formosa Plastics Corp. USA plant in Texas is featured in this week's Material Insights video. Also this week we report a big drop in North American PP prices, as well as news that compounding leader A. Schulman Inc. has opened its first plant in India.

Published: May 6, 2013 11:42 am ET
Updated: May 6, 2013 11:51 am ET

AKRON, OHIO — A fire that injured 14 at a Formosa Plastics Corp. USA plant in Texas is featured in this week's Material Insights video.

Six of the 14 remained hospitalized — including two in critical condition as of May 3, after the May 2 fire in Point Comfort, Texas. A polyethylene resin unit at the site remained out of operation, but Formosa officials said the plant had enough inventory to meet customer orders. The cause of the fire is under investigation.

A big drop in North American PP prices also is featured in this week's video. A 10-cent drop hit the market in April, on the heels of a 6-cent drop in March. Those moves came after a combined increase of 21 cents in January and February. PP demand in the U.S. and Canada also fell 10 percent in the first three months of 2013, according to the American Chemistry Council.

The video wraps up with news that compounding leader A. Schulman Inc. has opened its first plant in India. The plant in Vadodora has 22 million pounds of annual capacity and will make additive concentrates for flexible packaging, appliance and consumer products markets. Schulman operates four other plants in the Asia-Pacific region.

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