21 May 2007
GE SELECTS SABIC TO ACQUIRE
PLASTICS UNIT FOR $11.6 BILLION
May 21, 2007 New York, NY – GE (NYSE: GE) and Saudi Basic Industries Corporation (SABIC) today announced that they had reached agreement for SABIC to acquire GE Plastics for a purchase price of $11.6 billion. Announcement of the acquisition was made by Jeff Immelt, Chairman and CEO of GE and Mohamed Al-Mady, Vice Chairman and CEO of SABIC.
“As a global operating company, SABIC has a long-term, strategic interest in the people, communities, customers, products, plants and technology of GE Plastics,” said Mr. Al-Mady, in making the announcement. “This acquisition represents another important step in SABIC’s growth and diversification to become one of the world’s leading manufacturing companies.”
“This business is complementary to our existing business without any overlaps. SABIC’s intention is to grow the business globally”, he added. “SABIC is well-positioned to do this, while adding high-performance plastics to the product range SABIC currently offers to customers.”
21 May 2007
Borouge and Borealis’ Daplen achieves technological breakthrough in fully integrated fender
Borouge and Borealis, the leading providers of innovative, value creating plastics solutions in the Middle East, Africa, Asia-Pacific and Europe, have delivered the foundation for a technological breakthrough to the automotive industry with the development of Daplen™ EF341AE used in the world’s first fully integrated fender module. The material, a thermoplastic polyolefin (TPO) compound, has been specifically tailored to meet BMW’s exacting specifications for the new BMW X5 regarding improved production cost, safety, high quality aesthetics and environmental performance. The resulting TPO fender is the most complex and highly integrated, class A body application to be seen in production to date.
18 May 2007
Discover Distrupol’s world of colours at Go Plast
At Go Plast 2007 (Angers, 12 - 15 June, stand no. C15) Distrupol will launch its colour compounding service in the French market. Distrupol Colour is dedicated to supplying consistently high quality and tight colour tolerance engineering thermoplastic materials across Europe. The latest computerised matching equipment and a dedicated Colour Laboratory are utilized for quick and efficient colour development, with production quantities starting from as little as 25 kilograms.
18 May 2007
Cyclics announces distribution agreement with IMCD Deutschland GmbH & Co. KG (formerly Interorgana)
Schwarzheide, Germany – Cyclics Europe GmbH announces it has entered into a European distribution agreement with IMCD Deutschland GmbH & Co. KG (formerly Interorgana) who will distribute Cyclics CBT® resin products used as an additive or carrier for compounding and masterbatch applications.
16 May 2007
CHEMTURA INCREASES AXION™ TIN CATALYST PRICES
Chemtura Corporation announces the following price increases for its Axion™ line of tin catalysts:
DBTO $2.40/kg (1.80 Euro/kg)
DOTO $2.30/kg (1.73 Euro/kg)
MBTO $2.50/kg (1.88 Euro/kg)
15 May 2007
GE Plastics Acknowledges Key Partnerships with European Logistics Services Providers at Annual Awards Ceremony
BERGEN OP ZOOM, THE NETHERLANDS — May 15, 2007 — Highlighting the critical role of its logistics partners in delivering excellent customer service during 2006, GE Plastics honored five companies and two individuals at an awards ceremony and dinner here on April 12. The awards program, now in its fourth year, recognizes the quality, service, and on-time delivery exhibited by logistics services providers that enable GE Plastics to meet its commitment to customers.
14 May 2007
Rhodia Polyamide opens its first Technical Centre in China
Dedicated facility provides close customer support for
Lyon, France - May 14th, 2007 - Rhodia has reinforced its commitment to the Asian markets with the recent opening of a technical centre in Shanghai, consolidating Rhodia’s global technical centre network. The new facility brings the complete spectrum of engineering support to customers across the broad range of industries served by Rhodia Polyamide's engineering plastics materials in China and the wider Asian region.
14 May 2007
BODY ARMOR WITH DYNEEMA® TO SERVE DURING 2008 OLYMPIC GAMES IN BEIJING
URMOND (NL), 14 May 2007 - Bullet-resistant vests and helmets made with ultra-strong, light weight Dyneema® unidirectional (UD) from DSM for personnel security will help China create a safer environment for the upcoming 2008 Summer Olympic Games in Beijing. A vest design manufactured by Zhong Tian Feng Protection Products Technology Company Ltd. (ZTF), which features Dyneema® SB21, won a highly competitive and prestigious tender from the Beijing Bureau of Public Security.
