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Yavuz Eroğlu is once more President of PAGEV with unanimous vote

Yavuz Eroğlu is once more President of PAGEV with unanimous vote

The Turkish Plastics Industry Foundation (PAGEV), the umbrella organization of the plastics industry as a key driver of growth in the Turkish economy, chose Yavuz Eroğlu as its president once again during the 2016 General Assembly. Eroğlu said, “We are stronger together. We will continue to spur growth in the industry with projects that address real problems."

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Players report ample HDPE supplies in global markets

Players report ample HDPE supplies in global markets

PE markets have been on a weak trend in global markets including Southeast Asia and Turkey since late February while Europe has turned down only recently with sellers having to trim their initial hikes given the slowing demand ahead of Easter Holidays in April. What is common in these major markets is that players are reporting ample supplies for HDPE grades and this exerts a more visible downward pressure on this product when compared to other PE grades.

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Turkey’s Petkim issues hikes on PP, PE offers

Turkey’s Petkim issues hikes on PP, PE offers

Turkey’s Petkim increased its list prices for PP, LDPE and certain HDPE grades as of today.
According to distributors, the producer raised its PP prices by $15/ton to $1470-1480/ton for raffia, $1516/ton for injection and $1530/ton for fiber grade. Petkim had last revised its PP offers up on July 24, 2017.
Petkim’s new LDPE prices are up by $20/ton to stand at $1550/ton for F2-12, at $1560/ton for G03-5 and at $1540/ton for H2-8 grade. Petkim last revised its LDPE prices down on July 3, 2017.
The producer also raised its LDPE-t prices by $20/ton, bringing the overall range to $1533-1565/ton for all grades. Petkim last adjusted its prices for certain LDPE-t grades up on July 24, 2017.
Petkim’s most recent HDPE injection and b/m offers are up by $20/ton compared to the levels reported on July 24, 2017 and currently stand at $1410/ton and $1405/ton, respectively.
All prices are offered on FCA Aliaga, cash excluded VAT basis.

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Spain’s Repsol’s net profit soars in Q2

Spain’s Repsol’s net profit soars in Q2

According to a release on the company’s website, Spain’s Repsol announced its financial results for the second quarter. The company’s Q2 net profit rose significantly by 79% to €367 million ($429 million) from €205 million ($240 million) in the same quarter of last year. The company’s net income on CSS basis (Average recurring net profit adjusted for one-off gains and inventory effects) was also up by 44% to €409 million ($580 million) on the back of increasing production in Libya and Brazil, rebound in oil prices as well as weaker financial expenses.

Meanwhile, the company’s net debt decreased to €7.5 billion ($8.7 billion) from the previous quarter’s €8.3 billion ($9.7 billion).

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Turkish firms’ plastics exports exceed $2 bln

Turkish firms’ plastics exports exceed $2 bln

Turkey exported $2.08 billion worth of plastic products in the first six months of the year, marking a 1.8 percent increase compared to the same period last year, according to the Turkish Plastics Industry Foundation (PAGEV) on Aug. 3.
During the first half of 2017, the country exported 798,000 tons of plastic products to around 150 countries, a press release said. 
Total production in the country was 4.7 million tons and worth $17.7 billion.
Plastic household and kitchen goods exports rose 30 percent to $197 million in the same period, while the country’s foreign trade surplus in plastics production reached $612 million.      
Turkey, which is the second largest plastics producer in Europe, and sixth in the world, has some 6,500 companies and employs around 250,000 people, according to the PAGEV.    
If the same trend continues in the country, the production is expected  to increase by 9.4 million tons and reach $35.5 billion at the end of 2017, PAGEV said.
Turkey’s overall exports in July tallied $12.6 billion while the imports for the same month reached $21.4 billion, according to Ministry of Customs and Trade’s data bulletin on Aug. 2.
Exports in July increased by 28.69 percent and imports saw a 45.84-percent rise compared with the same month last year.
Turkey’s foreign trade volume increased by 38.97 percent and reached $34.076 billion during this period. The foreign trade deficit increased by 80.41 percent and reached $8.788 billion in July.

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PET bottles does not contains BPA

PET bottles does not contains #BPA

It is important to be clear on the difference between PET bottles and BPA containers. Consumers can get confused on the types of bottles that you use for your food or beverage products.

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