Archive | January, 2010

New gas agreement gives hope to Poland chemical privatisation

Good news for Poland’s chemical industry this week as a long term gas supply agreement is finally signed off, guaranteeing feedstocks for many chemical firms there. Lack of an agreement could have threatened the privatisation of the country’s second-largest Polish fertilizer producer Zaklady Chemiczne Police (ZChP), and others currently under offer.According to ICIS news, Under […]

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Artenius UK sold to KP Chemicals

It seems our sources were right (see last entry)! Administrators Deloitte yesterday confirmed that its assets have been sold to KP Chemical Corporation subsidiary Lotte Chemical UK. The PTA and PET assets at Wilton will give KP a manufacturing base in Europe, which could be fantastic news for them if markets improve. PET and PTA […]

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KP Chemicals nears deal for Wilton Artenius assets

South Korea’s KP Chemicals will buy the PTA and PET assets of bankrupt Artenius UK at Wilton, northeast UK within the next few weeks, a source familiar with the deal has told me.Journalists at ICIS have been working hard to get KP Chemicals or people from Artenius’ administrators, Deloitte, to confirm strong market rumours over […]

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Ukraine auto production plummets, chemicals hit

Chemical producers in the Ukraine and exporters of polymers to the country’s auto industry must be facing a devastating drop in demand according to new figures out today.According to a new report by Companiesandmarkets.com, it is still suffering from the effects of the global recession, with signs of a recovery still few and far between […]

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Oil refinery

Central and Eastern Europe chemicals industry call for ideas

I’m currently planning a special issue of ICIS Chemical Business magazine focussed on the central and eastern Europe and Russian chemicals industry.  Please send me any good ideas for articles to explore this fascinating region. I’m thinking about: CEO interviews Poland privatisation update BorsodChem Spolchemie Russian chemical projects update and much more…

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Billionaire Kulczyk bids for Poland fertilizer firms

Poland’s billionaire businessman, Jan Kulczyk, is in talks to acquire the country’s two largest fertilizer firms, a source at the ministry told ICIS news this week.The entrepreneur, owner of Warsaw-based Kulczyk Holding and international investment house Kulczyk Investments has had behind-the-scenes talks with senior Polish treasury ministry officials, said the source.The report says he is […]

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Chemicals bloggers compete in the snow

Readers of Paul Hodges’ Chemicals and the Economy blog will have been impressed by the image of him facing a 400m descent down the side of Hampstead Heath, London. Here is a short video showing my more modest descent in Crystal Palace park a couple of days ago.

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Hungary’s troubled PVC maker BorsodChem may be in deeper trouble, according to portfolio.hu. It quotes a local newspaper saying the company is not even close to negotiating a E100m loan it needs to help it restructure debt and continue operating. BorsodChem has a huge amount of potential and had been modernising aggressively to transform itself […]

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two people standing on euro symbol

Emissions Trading System or Scheme – Eurocrats confuse

A sorry tale of confusion highlights an excellent example of the use or misuse of language by the bureaucrats at the European Commission.Over the past few days there has been much debate here at ICIS about the correct way of expressing the European Union’s “ETS”. Having referred to it in an article as the “Emissions […]

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