01 August 2013 23:20 [Source: ICIS news]
HOUSTON (ICIS)--US integrated chemicals firm Axiall will have more definitive plans on its ethylene investment and possible condo cracker toward the end of the year or the first half of next year, a company executive said on Thursday.
“And in reality, it may be that we could combine with someone that’s existing in a way of adding capacity or some new one or we could do something together with somebody,” he added.
US-based vinyls producer Georgia Gulf had announced in November that it was considering investing in a joint partnership on a condo cracker in order to secure about 50% of its ethylene requirement on cost-base situation. Since then, Georgia Gulf and US-based PPG have merged their commodity chemicals businesses to form Axiall.
Carrico explained that there are ethylene assets available for sale, but companies have “always asked quite a price for them”.
Additionally, some companies are building new assets on greenfield sites, while others are expanding capacity.
“There’s so many different pathways that we’re just looking at everything at this point, and we’ll continue to do that during the coming months,” Carrico said.
Axiall reported a net income of $72.8m (€54.6m) for the Q2 2013, up from $13.6m in the same period last year.
($1 = €0.75)
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