PE, PP prices go up, PVC ones stay unchanged in Europe
According to Chem-Courier’s data, PE prices gained €30 - 60/t week on week depending on the grade, or €70 - 125/t month on month, in Europe last week. However, this had no effect on demand.
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Feedstock volatility, rising polymer prices
At the beginning of last week, both “feedstock” and energy prices reached their highest levels in 10 years. The price of oil was 139 USD/barrel, NAPHTHA was 1,121.7 USD/t and the price of natural gas was 227.201 Euro/MWh.
KraussMaffei now with access to the Chinese capital market
The KraussMaffei Group (KraussMaffei) completed its listing on the Shanghai stock exchange on the 28./29. December 2018.
LyondellBasell plans to have an equity offering
LyondellBasell Industries, the world’s largest polyolefins maker, plans to exit bankruptcy in December or January.
Graham Packaging is sold
Hicks Acquisition Company I, Inc., a Dallas-based special purpose acquisition company ("SPAC") founded and headed by Thomas O. Hicks, announced that it has reached an agreement in principle-subject to execution of a definitive agreement, which is expected to be finalized in the next few days-pursuant to which Graham Packaging Holdings Co. will go public through a transaction with Hicks Acquisition in partnership with The Blackstone Group and the Graham Group. The transaction, valued at approximately $3.2 billion, is believed to be the largest ever between a SPAC and an industrial company.