Xaloy owner IGP sells Atlas to Ametek Inc.
CHICAGO Ametek Inc. bought Atlas Material Testing Technology LLC, a Chicago-based supplier of testing equipment to simulate accelerated weathering and corrosion, for about $159 million in cash from Industrial Growth Partners.
IGP, a San Francisco private equity firm, owns screw and barrel maker Xaloy Inc. of New Castle, Pa. IGP bought both Atlas Material Testing and Xaloy in 2008.
Based in Paoli, Pa., Ametek is an industrial products company with $2.5 billion in annual sales. Atlas becomes part of the Ametek Measurement and Calibration Technologies Division, which makes equipment for a range of testing, such as tensile, hardness and force; instruments for measuring temperature, pressure and signal calibration; and sensors for pressure, level, position and temperature.
Ametek is traded on the New York Stock Exchange.
Ametek said Atlas Material Testing should generate about $85 million in 2011 sales.
Natureworks touts PLA emissions record
MINNETONKA, MINN. NatureWorks LLC contends that there are less greenhouse gas emissions from the manufacture of its bio-based Ingeo polylactic acid resin than from any common petrochemical-based plastics.
In an article published in November in the journal Industrial Biotechnology, two executives of the Minnetonka company point out that from cradle to pellet the kilograms of carbon-dioxide-equivalent emissions/kilogram of polymer produced are 1.3 for Ingeo PLA, 1.9 for polypropylene, 3.2 for amorphous PET and 3.4 for polystyrene.
The study was peer-reviewed by Ian Boustead of Boustead Consulting Ltd. in West Sussex, England, prior to publication.
One reason for the lower CO2 emissions from Ingeo PLA, said NatureWorks, is that the corn used as the raw material absorbs CO2 as it grows, lowering the overall greenhouse gas emissions by 61 percent.
Dynasol forming SBC joint venture in China
MADRID Dynasol SA has formed a 50-50 joint venture with Shanxi Northern Xing'an Chemical Industry (Xing'an) to build a plant making synthetic rubber in the form of styrenic block copolymers at a plant in China's Liaoning province.
The plant will have annual capacity for about 220 million pounds of synthetic rubber, officials with both companies said in a Dec. 14 news release. Material made at the plant will be based on styrene and butadiene and will be used in the automotive market, as well as in cables, adhesives, medical care and asphalt modification, officials said.
China's rubber demand is growing at a rate of 7 percent annually. The new plant will be part of an existing chemical complex owned by Xing'an.
Madrid-based Dynasol itself a joint venture between Repsol and Kuo Group already operates SBC plants in Spain and Mexico. The new capacity will boost Dynasol's global total by 50 percent.
Solvay compounding site slated for China
BRUSSELS Solvay Group will expand its presence in Asia by opening a specialty plastics compounding plant in Changshu, China.
Brussels-based Solvay will spend 21 million euros ($27.3 million) on the new plant, which is scheduled to open in late 2012. The plant will make compounds based on Solvay's Amodel-brand polyphthalamide, Ixef-brand polyarylamide and Kalix-brand modified polyarylamide.
The materials are expected to be sold into electronics, automotive, consumer and industrial applications, each of which is growing quickly in China, Solvay officials said in a recent news release.
We are looking forward to providing additional supply flexibility by compounding in closer proximity to our expanding customer base and providing them with more plastics with more performance, Solvay Advanced Polymers President George Corbin said in the release.
Asian sales made up more than 25 percent of Solvay's global specialty polymers sales in the first half of 2010.
AkzoNobel unit gains design studio, lab
LANCASTER, S.C. AkzoNobel Specialty Plastics has completed the first phase of the expansion of the Americas region headquarters for its Soliant business unit in Lancaster.
The project included renovating 20,000 square feet of space for a new design studio, product-development lab and additional offices for customer support.
The design studio will work with AkzoNobel's Foresee Color Trend and Design Group near Antwerp, Belgium.
The lab, meanwhile, will support the design studio with product samples, research and development, and added capability for producing performance coatings.
AkzoNobel offers decorative finishing technologies including liquid performance coatings, Soliant-brand paint film and bright film (chrome alternatives), digital image printing systems, metallics, pearls, tricoats and three-dimensional effects.
Tianjin Daju acquires pelletizing equipment
MUENSTER, GERMANY Chinese chemical manufacturer Tianjin Daju Chemical Co. Ltd. has signed an agreement with German supplier Bruckmann & Kreyenborg Granuliertechnik GmbH for pelletizing systems to produce ABS resin.
The Chinese firm, which also makes PVC resin and plastic parts for doors and windows, plans to purchase underwater pelletizing systems to manufacture 441 million pounds of ABS a year, according to a recent news release from Muenster-based BKG.
BKG said the order is its largest ever in China. Tianjin Dagu, based in Tianjin City, employs 6,000 and also makes hydrochloric acid, caustic soda and other materials.
Tianjin Dagu declined to comment.
Total is expanding PS capacity in China
BRUSSELS Plastics maker Total Petrochemicals plans to expand the capacity of its polystyrene plant in China's Guangdong province, boosting capacity there to more than 441 million pounds per year.
Total said that the new capacity at the Foshan factory will come on-stream at the end of 2010, and will let the company almost double its sales from the facility since 2008.
In particular, the firm said the expansion was aimed at the high-end markets in central and South China.
The company supplies PS to markets including packaging, consumer electronics, home appliance and office automation.
It also said it will boost styrene monomer feedstock capacity for Foshan at its Samsung Total Petrochemicals joint venture facility.
Brussels-based Total Petrochemicals is a unit of Paris-based oil company Total SA.