From Crain Communications Inc.publisher of North America's leading plastics industry newspaper http://www.plasticsnews.com Tuesday, July 22, 2008 | ||||||||
| ||||||||
|
Massive China PVC plant draws on coal rather than crude PINGDINGSHAN, HENAN (July 22, 2008) -- Despite rising concern over pollution caused by coal-to-chemical production, China’s first 1 million-metric-ton PVC plant is designed to take advantage of China’s rich coal deposits instead of relying on imported crude oil or natural gas. Firefighters die in Rexam Shanghai blaze SHANGHAI (July 22, 2008) -- Three firefighters were killed and nine more are reported to have been injured in a blaze at a Rexam plc plastics packaging plant in Shanghai. The fire started midday July 17, local time, at the site’s warehouse, which contained resin and some semi-finished goods. Production facilities were not affected. The factory makes cosmetics and personal-care packaging such as shampoo bottles. International plastics mergers, acquisitions on rise ![]() Blaige Chen Hsong reports sluggish fiscal year-end results HONG KONG (July 22, 2008) – The year-end financial results of China’s second-largest injection molding machine maker may be an indicator into the state of plastics China. The global economic downturn is putting a chokehold on earnings for Chen Hsong Holdings Ltd. The company pointed to oil prices pushing up costs of commodity resins and the subprime mortgage crisis and economic problems in the United States as factors in its earnings dropping well below its double-digit increases of previous years. The results suggest that China’s plastics industry is seeing slowing growth and faces increasing pressure. Sipa aims for flexibility in the China market HANGZHOU, ZHEJIANG (July 22, 2008) -- After a whirlwind debut on the Chinese market more than a decade ago, Italian bottle machinery company Sipa SpA has gained a reputation in the region. And with the help of a new China-made injection press and increasing marketing efforts, it’s a reputation the company is looking to expand. U.S. to impose duties on Chinese PP woven sacks WASHINGTON (July 22, 2008) -- The U.S. government ruled July 18 that it believes China subsidizes makers of laminated polypropylene woven sacks, and will impose penalties of up to 444 percent on the Chinese-made bags. The decision by the U.S. International Trade Commission was hailed by American bag producers, who said it would help "restore fair competition in the U.S. market." Sabic Shenzhen, Fujian Refining ink polyolefins deal DHAHRAN, SAUDI ARABIA (July 22, 2008) -- Sabic Shenzhen Trading Co. Ltd. will market 320,000 metric tons a year of polyolefin products from China’s Fujian Refining and Petrochemicals Co. The plant is scheduled to start commercial production in the second quarter of 2009 and will serve customers in China. The companies announced the deal in Dhahran, at the headquarters of Saudi Arabian Oil Co., known as Saudi Aramco. Sabic and Saudi Aramco have a long history of cooperation. PolyOne to locate plant in Mumbai, India AVON LAKE, OHIO (July 22, 2008) -- Construction is set to begin in India on a production and lab operation for a newly formed division of U.S.-based compounder and distributor PolyOne Corp. The division, PolyOne Polymers India Pvt., will import, manufacture and sell PolyOne products in India and neighboring markets. Design Guide: Lord of the Rings and plastics innovation ![]() Lefteri Kraiburg TPE opens Malaysian facility SELANGOR, MALAYSIA (July 22, 2008) -- Kraiburg TPE GmbH & Co. KG has opened a manufacturing plant in Selangor to supply customers in Asia. The new plant has about 50 employees and annual capacity of 2,000 metric tons of thermoplastic elastomers. Hoffer buys minority stake in auto molder Intec Group SOUTH ELGIN, ILLINOIS (July 22, 2008) -- At the request of some of its top customers, Hoffer Plastics Corp. has expanded its global footprint by investing in a minority share of Intec Group Inc. Intec runs three plants in China, and one each in the U.S., Singapore and Mexico. The two firms see it as a complementary marriage since their markets have little overlap. Hoffer’s end markets include packaging and industrial and consumer products, with less than 10 percent automotive, while Intec’s reputation as an auto molder should help Hoffer gain business in that area. Vinyl Institute stepping out on its own ![]() Bocchi The Plastics News China Blog China's auto market a safe harbor? (July 21, 2008) How to sell medical devices in Asia (July 21, 2008) 'Experts' misinterpret bag ban (July 21, 2008) Indian processors fast for support (July 16, 2008) 700 Chinese laid off by Progressive (July 15, 2008) How much does China's new labor contract law contribute to the rising cost of manufacturing in China? Click here to vote Current Poll Results Comment on Poll
|
| |||||||
| Plastics News China eWeekly is a free service provided by Plastics News.
Please remember to add china@plasticsnews.com to your address book or approved sender list to ensure you receive our e-mails. | ||||||||
|
||||||||
| Entire contents copyright 2008 by Crain Communications Inc. All rights reserved. Plastics News, 1725 Merriman Road, Akron OH USA 44313 | ||||||||