Posts Tagged ‘taiwan’

Idemitsu Kosan, Formosa Petrochem in hydrogenated hydrocarbon resin JV

Idemitsu Kosan Co., Ltd. and Formosa Petrochemical Corp

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Formosa Group sues academician over pollution study

Formosa Plastics Group has filed NT$40 million lawsuit a libel suit against an academician for releasing a study that warned if a major petrochemical project was to be launched in central Taiwan, the average life span of local residents will decrease by 44 days and 393 people will die of related diseases islandwide, as per focustaiwan.tw. The sued professor Tsuang Ben-jei, released a report last year saying 66 factories in Taichung and Yunlin County, including the Formosa group’s sixth naphtha cracking plant, were found to have been emitting heavy metals and dioxins, a known human carcinogen

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DSM Engineering Plastics moves global Head Quarters to Asia

In a strategic move to anticipate customer needs quicker around the globe, DSM Engineering Plastics has shifted global headquarters to Singapore. The Company, which has development, sales and manufacturing facilities located in The Netherlands, USA, Japan, China, Taiwan, India, Belgium and Russia has moved a number of its key functions to Asia in order to underline its commitment to the Asian market which is expected to represent the major share of the companyÂ’s growth in the coming years. According to Roelof Westerbeek, President DSM Engineering Plastics, the move – which was pre-announced in 2010 – is making good progress and will be completed in 2012: “This is a significant step as it puts us right at the heart of the fast-growing Asian marketplace.

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SCG, Thai Plastic and Chemicals, QPI Vietnam, PetroVietnam, Vinachem ink

Siam Cement Group (SCG), Thai Plastic and Chemicals, QPI Vietnam (a subsidiary of Qatar Petroleum International), PetroVietnam and Vinachem have signed a joint venture agreement to invest in Vietnam’s first petrochemicals complex. SCG announced the signing in a statement to the Stock Exchange of Thailand. As per GTForum, a final investment decision is expected in 2013 and commercial operation of the US$4.5 bln project is expected within 4-5 years after the start of construction.

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Formosa Plastics Group units report Q4 losses on a slowing global economy cut demand

Units of Formosa Plastics Group – Formosa Petrochemical Corp. and Nan Ya Plastics Corp., have reported fourth-quarter losses, as a slowing global economy cut demand.

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2012 outlook for petrochemicals in Taiwan to be dim

The outlook for Taiwan’s petrochemical and basic metal sectors next year will be dimmer than for other sectors, a Ministry of Economic Affairs (MOEA) official is reported in CNA. Most manufacturers expect to hit bottom in Q1-2012, but the petrochemical and basic metal sectors could continue to struggle into the second half of the year, as per a survey. This can be attributed to a large dependence on exports to China

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Two dollar spike in crude prices pulls down naphtha margins in Asia

Naphtha margins in Asia have taken a hit as crude prices jumped by over two dollars a barrel on Wednesday. Cracks for the H1-February fell by over 8 dollars to US $110.48/ton, as per Reuters. The dip is in line with a drastic fall in European naphtha cracks on Tuesday

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CPC and Formosa Petrochemical to ally

To cope with economic slowdown, Formosa Petrochemical may ally with CPC Taiwan, its chief rival on the domestic market, as per Dow Jones Newswires. Formosa Petrochemical may sell propylene to CPC Taiwan, so as to boost the capacity utilization rate of its three olefin plants, currently at 86%.

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China?s total polymer imports retreat in September

According to the recent data released by the Chinese Customs Agency, ChinaÂ’s total plastics imports posted a monthly drop in September 2011, falling from the 1.51 mln tons in August to 1.41 mln tons in September, as per ChemOrbis. On a year over year basis, however, total plastics imports in September were higher compared to the same month of 2010. Apart from the main exporters including South Korea (274,973 tons), Saudi Arabia (189,006 tons) and Taiwan (164,479 tons), Thailand (94,790 tons), the US (89,822 tons) and Iran (88,793 tons) were the top three polymer exporters to China in September 2011, with all of these countries, except for the US, reducing their total export volumes to China compared to August.

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China?s total plastics imports reach a new 2011 high in August

ChinaÂ’s total polymer imports reached the highest level of 2011 in August as per ChemOrbis. According to the recent data released by the Chinese Customs Agency, China imported 1.51 tons of plastics in August 2011, with the countryÂ’s overall imports reaching a new high over the first eight months of 2011. On a year over year basis, total plastics imports in August were also the highest figure seen for the month going back to 2001

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