Hanwha growing at China, Europe sites
SEOUL, SOUTH KOREA - South Korean plastics group Hanwha Chemical Corp. plans to invest 360 billion Korean won ($382 million) to establish a PVC operation in eastern China.
Meantime, Hanwha has set up a subsidiary, Hanwha L&C Czech sro in the Czech Republic. Hanwha L&C makes plastic flooring materials, interior automotive parts, construction materials and PVC compounds.
In a bid to boost the competitiveness of its vinyls business, Seoul-based Hanwha Chemical will launch a wholly owned subsidiary in Ningbo, China, that will operate a 661 million-pound-per-year PVC plant in Ningbo. The plant is expected to launch in 2010, following approval from Chinese authorities.
The new chemical company also will have the capacity to produce 661 million pounds of vinyl chloride monomer and 1.1 billion pounds of ethylene dichloride, according to Hanwha.
The investment is part of Hanwha's plan to lead vinyl production in China, while expanding to become a global player in PVC production, the group said in announced the project in January.
DuPont Co. launches China plant for PTFE
WILMINGTON, DEL. - DuPont Co. has opened a fluoropolymer manufacturing facility in China, making polytetrafluoroethylene fine-powder and dispersions.
The facility, in Changhsu City, China, is the company's fourth worldwide to use its Echelon technology for making low-PTFE-content, aqueous fluoropolymer dispersions, Wilmington-based DuPont said in a recent news release. The fluoropolymer industry has been under pressure from governments to reduce PTFE emissions.
DuPont's other three such facilities are in the United States, Europe and Japan.
La Seda backs off deal for Interquisa
BARCELONA, SPAIN - Spanish PET supplier La Seda de Barcelona SA has indefinitely postponed a deal to buy Intercontinental Química SA (Interquisa), a deal that had been announced in January.
The acquisition would have given La Seda an entry point into the North American market. Interquisa is a wholly owned subsidiary of Madrid, Spain-based Companía EspaÃ±ola de PetrÃ³leos SA, or CEPSA.
La Seda blamed market conditions for the decision.
Interquisa's plant near Montreal, known as Interquisa Canada LP, has annual production capacity of 1.3 billion pounds of purified terephthalatic acid. The facility started production in 2003 and employs 140. The PTA factory is owned by Interquisa and the Societe Generale de Financement, the Quebec government's investment vehicle, with 51 percent and 49 percent shares respectively.
Swiss equity company buys Rieter Automatik
WINTERTHUR, SWITZERLAND - Rieter Holding AG has sold its plastic pelletizing equipment unit to CGS Management Casparis Gloor Lanz & Co., a private equity firm in the PfÃ¤ffikon district of Freienbach, Switzerland, that buys Swiss, German and Austrian manufacturing companies.
Wintherthur-based Rieter said in a news release that it signed a sale agreement Feb. 25, but the deal is retroactive to Jan. 1. Rieter will focus on its core business, making machinery for staple fiber and nonwoven products.
The unit sold to CGS is Rieter Automatik GmbH in Grossostheim, Germany.
Michigan toolmaker goes out of business
BYRON CENTER, MICH. - An automotive mold maker has closed, according to local news reports.
Robert Sloma, owner of JS Die & Mold Inc. of Byron Center, did not return phone calls, but suppliers and local media said the firm apparently closed in February, eliminating about 30 jobs.
The injection mold maker had just received additional funding in 2007 to help keep it alive, even as sales slowed to its major customers in the auto industry.
The company opened in 1984.
Dow, Cascade help with relief program
MIDLAND, MICH. - Dow Chemical Co. is donating resin to make 300,000 portable water purifiers that will be distributed to developing countries worldwide, in an effort to halt the spread of water-related disease.
Midland-based Dow announced Feb. 25 that it will provide the resin through its partnership with International Aid, a Christian relief and development agency based in Spring Lake, Mich., which launched the water purification program in 2007.
Cascade Engineering Inc. of Grand Rapids, Mich., is injection molding the 7-pound HydrAid filter system, which can filter more than 12 gallons of water per hour using a sand filtration system, according to a news release. HydrAid replaces a 300-pound, concrete-based filtration system with a plastic filtration unit that can be placed in homes.