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Houston—Garnering approximately 950 in preregistration and topping 1000 attendees with walk ups, petrochemical analyst firm, Chemical Market Associates Inc. (CMAI; Houston) concluded the 23rd edition of its World Petrochemical Conference last week in Houston, drawing a diverse mix of geographic origins and business affiliations, including oil/gas firms, chemical companies, retailers, OEMs, and the financial industry.
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Polyethylene (PE) trading volume at The Plastics Exchange (TPE) was higher, and while largely steady, TPE CEO Michael Greenberg said that a rapid increase in ethylene prices, fed by restricted supplies of the monomer as facilities were taken off line, could push up PE prices. An unscheduled maintenance shutdown at an ethylene facility forced many producers to purchase the monomer on the spot market, pushing those prices to almost $0.60/lb, up 30% from the first quarterÕs low of $0.455/lb.
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Houston—The Middle EastÕs efforts to build new industries around its hydrocarbon resources, reinvesting record hauls from crude oil topping $100/barrel, have to date largely focused on refining oil and gas into chemicals and plastics destined for export.
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Newsletter continued below...
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HoustonŃThe same week the project received an environmental license and one week before soil grading begins, Jose Lima, president Petrobas Quimica SA, offered details on the $8.5 billion Rio de Janeiro Petrochemical Complex (COMPERJ), which will use a patented fluid catalytic cracking (FCC) process to convert heavy Brazilian crude oil directly into petrochemical feedstocks like ethylene and propylene, with polyolefins capacity planned as well.
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High-end multicolor screen-printing specialist Technigraph Corp. (Winona, MN) has been acquired by blowmolder Alpha Packaging (St. Louis, MO). Alpha, which generates sales of $100-million from the production of high density polyethylene (HDPE) and polyethylene terephthalate (PET) bottles and jars for the personal care, pharmaceutical, nutritional supplement, and niche food and beverage markets.
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HTI High Tech Industries AG (St. Marien, Austria) has acquired 100% of the Theysohn Group (Korneuburg, Austria), a leading manufacturer of extrusion equipment for processing of plastic pipes, profiles and sheets, from the previous owners, co-managing directors Rudolf Zahradnik and Siegfried Topf. In 2007 the Theysohn Group had revenue of approximately euro 56 million.
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Some five years after its management buyout, Extrusion Dies Industries LLC (EDI; Chippewa Falls, WI)) has appointed a new team to direct its worldwide operations and promoted to chairmanship positions the four executives who led the buyout. The company also says it has in place an expansion strategy that will include geographic and technological diversification and possible acquisitions of new businesses.
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Austrian injection molding machine manufacturer Engel is taking its new fully-electric Õe-maxÕ injection molding machine on a European tour from April 15 through July 3. At 11 locations throughout the continent, processors will have the opportunity to see the machine in operation, as well as learn from presentations on topics such as molding for the medical market.
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Ford Motor Company is introducing soybean oil-based flexible foams in its 2008 Mustang. The new product will be unveiled by a group of FordÕs scientists at the upcoming Automotive Congress: Plastics-in-Motion, scheduled for May 14-16, 2008, in Prague.
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In facilities news, Polymerupdate.com has learned that shipments of refrigerated propylene by Formosa Petrochemicals to its new 450,000 tonnes/yr polypropylene (PP) plant at Ningbo in eastern China have recently commenced with an aim to start commercial operations soon.
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Thermally conductive plastics are beginning to encroach into heat-sink applications traditionally filled by metals. MPWÕs World Tour in April gauges the temperature of a sector thatÕs heating up, with input from Cool Polymers, BASF, Sabic Innovative Plastics, Ovation Polymers, and Lati.
Just ask Christina Schäfer, administration manager of German kitchen utensil injection molder and moldmaker Börner GmbH, who seeks out counterfeit versions of the companyÕs goods. MPWÕs As I See It in April speaks with Schfer about how her company is working to counteract counterfeits.
April 9
Sacramento, CA
Society of the Plastics Industries Inc.
949-261-6979
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April 17-20
Shanghai
Adsale Exhibition Services Ltd.
852-2811-8977
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May 4-8
Milwaukee, WI
Plastics News & Society of Plastics Engineers
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Quotable
ŅI wouldnÕt be surprised if we saw $120/barrel oil;
I wouldnÕt be surprised if we saw $75/barrel oil,Ó
Bill Sanderson, analyst with Purvin & Gertz on volatility in oil prices in 2008. Speaking at CMAIÕs World Petrochemical Conference, Sanderson said the U.S. debt crisis, which has forced the Federal Reserve to lower interest rates, has driven financial investments into oil, which has in turn pushed prices up.
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