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LAS VEGAS (Feb. 9, 12:25 p.m. ET) — Economists are projecting that housing starts will increase from a record low of 550,000 in 2009 to between 675,000 and 700,000 in 2010. But the economy remains in the doldrums, unemployment continues to rise and foreclosures are still on the upswing, making the outlook uncertain for companies supplying the building, construction and housing markets.
February 9, 2010
NEW YORK (Feb. 8, 2:05 p.m. ET) -- While Europe and North America will not see major growth in polyethylene production capacity over the next five years, enormous demand in countries such as China and the feedstock cost advantages of the Middle East mean the Asia-Pacific and Middle East regions will account for more than 80 percent of planned PE capacity additions to 2015, according to a newly published study.
February 8, 2010
MIDDLEBURY, CONN. (Feb. 8, 1:45 p.m. ET) -- Additives supplier Chemtura Corp. is seeking approval for an amended $450-million debtor-in-posession facility to allow the company to execute its business plan, the company said Feb. 4.
February 8, 2010
AKRON, OHIO (Feb. 8, 1:30 p.m. ET) — Rising resin prices are again in the news, with increases for PET bottle resin and PVC suspension resin featured in this week’s Material Insights video, along with an update on Mexichem SAB de CV’s proposed acquisition of pipe maker Plásticos Rex SA de CV and resin producer Polycid SA de CV, and the quarterly earnings reports for PolyOne Corp., Dow Chemical Co. and Lubrizol Corp.
February 8, 2010
MIAMI (Feb. 7, 10:30 p.m. ET) -- Single-use plastic products makers took fire from an unusual source during this year's Super Bowl game -- commercials from German carmaker Audi AG for a "clean diesel" vehicle. The "Green Police" ads took aim at plastic grocery bags, PET water bottles and polystyrene cups -- all with the aim of promoting environmental attributes of the Audi A3 TDI.
February 7, 2010
DELAWARE, OHIO (Feb. 5, 1 p.m. ET) -- With bans on the use of bisphenol A in baby bottles and food and drink containers looming in Washington state and Wisconsin -- and public concern continuing over its use in polycarbonate bottles -- the matter is creeping closer to the 5-gallon water-bottle market segment.
February 5, 2010
BRUSSELS, BELGIUM (Feb. 5, 12:55 p.m. ET) -- Sustainability has been at the top of the packaging industry agenda for years but delegates at the third
European Plastics News Sustainable Plastics Packaging conference, held recently in Brussels, heard that certainty in sustainability remains as elusive as ever for packagers and brand owners alike.
February 5, 2010
DONGGUAN, CHINA (Feb. 5, 12:50 p.m. ET) -- Office equipment maker Intek America Inc., which last year launched a program to make some of its paper shredders carbon neutral, is hoping a partnership with Taiwanese bioplastics compounder Minima Technology Co. Ltd. will help it “green” its material choices.
February 5, 2010
AKRON, OHIO (Feb. 4, 5 p.m. ET) -- Makers of PVC and PET have won price increase battles since Jan. 1. Suspension PVC prices are up an average of 5 cents per pound in North America since Jan. 1, according to buyers contacted recently by
Plastics News. Average selling prices for PET bottle resin are up 3 cents in the region in the same comparison.
February 4, 2010
WICKLIFFE, OHIO (Feb. 4, 3:40 p.m. ET) -- Plastics-related operating profit almost doubled in 2009 for Lubrizol Corp. Wickliffe-based Lubrizol recorded operating profit of almost $169 million for its Advanced Materials unit in 2009 — an increase of about 90 percent over the prior year. Results improved even as the unit’s sales fell 12 percent to $1.3 billion.
February 4, 2010
MIDLAND, MICH. (Feb. 4, 3:15 p.m. ET) -- Dow Chemical Co. said Feb. 3 that it will permanently shut down its 100-kilotonne-per-year capacity toluene diisocyanate (TDI) production plant in Freeport, Texas, in the second quarter. Dow said the plant will close “because manufacturing TDI there is no longer economically viable.”
February 4, 2010
AVON LAKE, OHIO (Updated Feb. 4, 3:30 p.m. ET) -- Top compounder and resin distributor PolyOne Corp. rode a strong fourth quarter to a much-improved performance in 2009. The company on Feb. 4 reported a full-year profit of almost $68 million, a year after reporting a loss of almost $273 million in 2008. The improvement occurred even as the firm’s sales fell 25 percent to about $2.1 billion.
February 4, 2010
MIDLAND, MICH. (Feb. 3, 10:15 p.m. ET) – Midland is the preferred site for Dow Chemical Co.’s first full-scale production plant for Powerhouse-brand solar shingles, the company announced Feb. 3. Midland-based Dow said the business could employ 1,200 jobs by 2014. The Michigan Economic Development Corp. is considering up to $140 million in economic incentives for the plant.
February 3, 2010
FAIRLAWN, OHIO (Feb. 3, 4:15 p.m. ET) -- Omnova Solutions Inc. -- a maker of specialty polymers and commercial wallcoverings -- rang up a profit of $26 million in its 2009 fiscal year after reporting a small loss the year before.
February 3, 2010
MEXICO CITY (Feb. 2, 4:45 p.m. ET) -- Latin America’s largest producer of PVC pipes, vinyl resins and compounds is optimistic Mexico’s antitrust authority will approve its contentious purchases of a rival plastic pipe maker and a PVC resin producer by the end of March.
February 2, 2010
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