Excellent year for Borealis
Borealis achieved significant net profit growth in 2010 with EUR 333 million compared to EUR 38 million in 2009, return to pre-crisis levels.
Market
News Plastech
Rexam sales closures business
UK-based Rexam has announced it has put its closures business up for sales, confirming industry rumours that the packaging giant was looking to divest the struggling division.
Indorama has signed a definitive share purchase agreement to acquire Trevira
Indorama Ventures Public Company Limited has signed a definitive share purchase agreement to acquire German company Trevira GmbH through a joint venture with Italy's Sinterama S.p.A. Indorama Ventures will become the majority partner while Sinterama will take a strong management role in the new joint venture company.
2010 record year for BASF
According to BASF, 2010 was a record year for the company with sales of €63.9bn – up 26% year-on-year.
Cooperation between Cardia Bioplastics and Nestle
Cardia Bioplastics begins collaboration with Nestle to reduce environmental impact of packaging.
Import offers to Egypt increase after crisis
The Egyptian polymer market appears to be returning to some level of normalcy following the political turmoil which caused most of the regional Middle Eastern producers to step back, as per Chemorbis.
Asia is booming in packaging
China has developed into a global super power with giant strides. According to estimates of the German professional association VDMA Chinese machinery manufacturers took the lead for the first time in 2009.
Pallmann doubles orders
Size reduction technology specialist Pallmann Group reports very strong growth for 2010.
PET plastic bottle recycling market potential is enormous
Two former German Freudenberg and Rethmann recycling companies announced a joint venture "First PET" enterprise, specialized recycling PET beverage bottles.
German plastics industry continues to grow
After the deep recession in 2009, the German plastics industry is recovering strongly.
Sales of German plastics and rubber machinery rise faster than expected
German plastics and rubber machinery manufacturers have recovered from the economic crisis more quickly and decisively than anticipated a year ago.
Very good year for PKN Orlen
In 2010, PKN ORLEN (Poland) posted the best operating and net profits in five years, as well as the highest ever total sales volumes. The Company was consistently reducing its debt, while keeping the ratios required under its loan agreements at safe levels.
