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Business NEWS

India makes big cut in tariffs on Chinese P o l y O n e b u y s molding machines concentrates ndia has cut its anti-dumping duty companies argued they were needed business from BASF on Chinese-made injection molding to protect them from unfairly priced

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machines to 29 percent, down from 174 percent, a big change in a policy that has been controversial within Indian industry. India’s Ministry of Finance announced the new tariff levels Dec. 4, without commenting on why they were reduced. Sources said it’s not clear if the lower tariffs will bring more Chinese machines into India’s large injection press market. The tariffs were first put in place in 2009, and Indian machinery

Chinese competition. Local molders, on the other hand, wanted the duties removed entirely to get better access to technology and make them more competitive globally. In interviews at the Indplas 2015 trade show in Kolkata, Indian press makers downplayed the new low import tariff as a non-issue. They argued that the industry has moved away from lowend price-sensitive equipment.

Petainer Innopac JV opens PET container plant near Mumbai

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etainer UK Holdings, a leading provider of innovative and sustainable PET and other plastics containers in joint venture With Innopac Containers has opened a blow moulded PET container plant near Mumbai. The JV company Petainer Innopac Packaging officially opened the new manufacturing earlier this month.

The facility also has an on-site design studio, laboratory services and warehousing.Officially opening the plant, Atit Bhatia, managing director of Petainer Innopac Packaging, said: “This is an exciting day and we are delighted that we have delivered on our timely promise to the market by bringing a world-class facility and a world-class product to the Indian market. The plant and its strategic location supports our ambitious growth plans for the region which is based on providing customers with

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an exciting portfolio of innovative and gamechanging solutions.” Nigel Pritchard, group CEO of Petainer UK Holdings, said, “India presents an exciting and dynamic market opportunity for our innovative packaging solutions." He added that there is huge interest and demand from brand owners in India who genuinely recognise that Petainer’s advanced polymer engineering brings significant benefits in terms of reduced cost of ownership and improved sustainability.”The joint venture business was formed in early 2015 to target Petainer’s PET products at brand owners in India. Petainer and Innopac said they have agreed to a phased approach. Petainer Innopac Packaging has also introduced PetainerKeg a oneway 20 or 30-litre plastic keg into India. This is made for the beer, wine & other beverage markets.

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olyOne has purchased the Magenta Master Fibers business of BASF $22m (€20m).Magenta makes specialty color concentrates for the global fibre industry at plants in Milan, Italy; and Shanghai. The business has annual sales of $16 million, with 65 percent of that total coming from outside of North America.The sale price represents a multiple of 6.8 times Magenta’s EBITDA.

PolyOne President and CEO Robert Patterson said the Magenta deal is “another excellent strategic acquisition that will further accelerate our specialty strategy as we pursue our 2020 Platinum Vision.”Magenta produces masterbatch concentrates based on nylon and polyester for mass dyeing of synthetic fibres. Markets for its materials include clothing and apparel, outdoor equipment and multiple materials used in the transportation industry. Officials with BASF in Ludwigshafen, Germany, said that the firm will concentrate on its customized colour masterbatch business and that the Magenta unit “is not part of BASF’s future focus.” Magenta now will be part of PolyOne’s Global Color, Additives & Inks unit. The Magenta acquisition is PolyOne’s first deal since acquiring some of the assets of liquid polymer formulator Accella Performance Materials for $49m (€45.6m) in late 2014.

Plastic news dec 2015  
Plastic news dec 2015  
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