Briefs

The Dow Chemical Company announced that the SCG-Dow Group, a joint venture between Dow and Siam Cement Group, had finalised the start-up of its new propylene-oxide facility in Thailand by successfully completing its full-capacity performance test.
Dow reached a key milestone in October when the plant achieved stable production levels in preparation for the full-capacity run scheduled for the fourth quarter of 2011. The new facility met that target on time by successfully completing the full-capacity run on November 22 – only two months after starting raw-material feeds to this new plant. Additionally, the plant exceeded expectations for all quality and yield performance parameters, Dow said.

IVL buys US-based FiberVision

Indorama Ventures’s board of directors has approved its acquisition of a 100-per-cent stake in FiberVision Holdings in the US state of Georgia.
FiberVision produces specialised mono- and bi-component fibres, with total capacity of 221,000 tonnes – 117,000 tonnes in the US, 90,000 tonnes in Europe and 14,000 tonnes in China.
FiberVision estimates sales volume was US$400 million to $500 million (Bt12.7 billion to Bt15.8 billion) in 2011 with expected profit of $15 million. Indorama has obtained antitrust approval from the US and the European Union and expects the deal to be completed by today. – The Nation

VN investment overseas hits $10.8 bn
Vietnam committed a total of US$10.8 billion (Bt342 billion) of investment in 627 projects in 55 countries and territories around the world by the end of last year, the Ministry of Planning and Investment’s Foreign Investment Agency reported.
Laos tops the list as most appealing investment destination, receiving $3.4 billion worth of investment, followed by Cambodia with $2.1 billion and Venezuela with $1.8 billion.
Other countries attracting large-scale investment from Vietnam include Russia, Peru, Malaysia and Mozambique, ranging from $345 million to $776 million.
In 2011, Vietnam authorised 75 outbound investment projects in 26 countries and territories, and adjusted investment capital for 33 investment projects, the agency said.
New outbound investment in 2012 is expected to reach $2.12 billion, with large-scale projects in the energy and communication sectors in areas targeted by the Vietnamese government.
Some of the biggest overseas projects this year will include the $806-million Se San II hydropower plant in Cambodia; an expansion of an operation worth $408 million by military-run Viettel company in Peru; and the $275.2-million Se Kong 3 hydropower plant in Cambodia. – Viet Nam News/ANN

World Bank names East Asia VP
Pamela Cox has been appointed the World Bank’s vice president for East Asia and the Pacific, effective this week.
The appointment by World Bank Group president Robert Zoellick will see Cox lead the bank’s advisory and lending operations in the region and oversee strategic engagement with middle-income country partners.
A US citizen, Cox previously worked as vice president for the Latin America and Caribbean region of the bank, playing a leading role in supporting inclusive growth in emerging economies and providing innovative and practical financial and knowledge services to meet developing-country needs. In the past, she has worked as chief of country operations in Vietnam, Laos, Cambodia, Burma, the Philippines, Malaysia, Thailand and South Korea. – The Nation

Oclaro prioritises restart

Oclaro, a provider of optical communications and laser solutions, has provided further details about the progress of the company’s recovery efforts from the flooding in Thailand.
The company also announced preliminary revenue of about US$86 million (Bt2.7 billion) for the final quarter of 2011 compared with a guidance range of $75 million to $85 million provided by the company on November 9.
Alain Couder, chairman and CEO, said Oclaro’s top priority had been to restart production in Thailand after the intensive floods, and minimise any impact to customers. 

Trailer firm acquired

American Industrial Partners, a middle-market private equity group focused on acquiring North American-headquartered industrial businesses, announced that it had completed the purchase of Heil Trailer International from Dover Corporation.
Heil Trailer is a leading global provider of engineered tank and specialised trailers for a diverse range of end markets including oil, gas and infrastructure.
The company is a global enterprise with three manufacturing facilities in North America and facilities in Thailand and Argentina.  – The Nation