Archive | May, 2010

Poland’s chemical industry may be hit by currency, feedstock costs

An interesting report, just out, today says growth in the Polish petrochemicals industry could be hindered by the appreciation of the zloty and rising naphtha costs.According to the report, Poland has a position as a regional outperformer owing to its resilient internal demand driven economic model, manageable private sector leverage, robust banking sector and stable […]

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Will Ciech sell off and IPO be death by a thousand cuts?

In the past few days Poland’s major chemical group, Ciech, has announced plans to sell its fertilizer, agrochemical, silicates and glass units. Prior to that there was discussion of a possible initial public offering (IPO) for its soda ash business. If all these go ahead the group will only be left with its organic chemicals […]

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Turkey to implement Reach-style chemicals regulation

Turkey is implementing a new Chemicals Management Regulation which it hopes might be a bridge to the adoption of Europe’s Reach regulation. Planned for 2013, the initial aim is an inventory improving market visibility.ICIS has just published a global map of chemicals regulation, with a comparison to Reach. The data was supplied by Europe’s chemical […]

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LyondellBasell calls force majeure on Polish polypropylene

LyondellBasell has declared force majeure on polypropylene (PP) from its joint venture Basell Orlen Polyolefins (BOP) 400,000 tonne/year plant in Plock, Poland, market sources said on Wednesday.In a statement, the company said that “as a result of unforeseeable technical production problems due to low polymerisation” in the Plock PP plant, it was unable to supply […]

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Lanxess breaks ground on first Russian chemical plant

German specialty producer, Lanxess, has made its first step into manufacturing chemicals in Russia by starting construction on a 1,500 tonnes/year rubber chemicals plant. LANXESS subsidiary Rhein Chemie will operate the plant, based in the Nizhny Novgorod region. According to Rainier van Roessel, member of the LANXESS Board of Management, chemical markets are improving in […]

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Hope for Czech chemicals as GDP data shows improvement

Analysts forecasts just out suggest that Czech Republic will boast GDP growth of 1.2% in the first quarter (Q1) this year, pointing to a gradual, permanent revival of the economy this year. Construction should lead the recovery, good news for commodity chemical producers in the region.According to the Prague Daily Monitor recovery will be slow, […]

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Poland chemicals privatization slows to a snail’s pace

As predicted by this blog, the unrealistic expectations of Poland’s treasury officials mean that they have halted the privatization of chemical firms Zaklady Azotowe Tarnow (ZAT) and Zaklady Azotowe Kedzierzyn (ZAK). The privatization agency, Nafta Polska, reported the decision on Thursday after a binding bid for controlling stakes in the firms submitted by Germany-based Petro […]

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Iran restarts NPC petrochemical privatization

I spoke to a trusted contact today who tell sme that Iran is restarting the privatization of its National Petrochemical Company (NPC) and may consider selling a majority stake to international investors. According to the plan, all NPC’s production assets would be placed into a single entity which could then be sold in part or […]

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Poland’s Ciech may not attract buyer unless government backs down

The flagship privatization of Poland’s Ciech again looks shaky as reports suggest the country’s treasury is unwilling to accept lower bids for the group. Ciech is Europe’s second largest producer of soda ash and this market has not been performing well. As the privatization process stumbles on it is looking more and more like the […]

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