China’s largest plastic compounder Kingfa Science & Technology reported 30% lower profit in the first half of the fiscal year, due to the slowdown in the markets it serves, which include the automotive, appliances and electronics sectors.

The company sold a total of 442,200 tonnes of products during the first half, registering 11.3% year-on-year growth. Excluding the trading business, it sold 321,300 tonnes of plastic compound materials, about 4% higher than the same period last year.

However, sales of its automotive materials rose 12%, against a backdrop of only a 3% increase in car sales in China.

Kingfa is also on track with its 200,000-tonne/year automotive material project in Guangzhou and the 150,000-tonne/year recycled plastics project, which have started generating revenue. The company plans to achieve 1.2 million tonnes of compounding capacity by 2015.

US private equity firm Carlyle Group has paid US$4.9 billion to acquire DuPont Performance Coatings.

German chemicals firm BASF has set up a new research laboratory for thermoplastic polyurethanes (TPU) in the US.

German automotive products supplier Mann + Hummel GmbH is expanding in China by acquiring Bengbu Haoye, a manufacturer of filters for the automotive industry.

US-based Emerald Kalama Chemical is building a facility to manufacture environmentally friendly materials in Rotterdam, the Netherlands, at the plant it acquired from DSM in 2010.

Mitsui Chemicals of Tokyo has established a company for functional polymeric materials in Shanghai’s Jinshan district.

Five years after Huntsman Polyurethanes teamed up with renewable resource-based polyol producer Alberdingk Boley to co-develop PU solutions for the coatings market.

Solvay Advanced Polymers is upping capacity for its Spire polyetheretherketone (PAEK) by 70% at its Panoli, India, plant.

In lieu of a growing lighter vehicles trend, Lanxess opens its first US$20 million worth production plant for high-tech plastics plant in Gasronia in the U.S. state of North Carolina, to help meet the increasing demand for premium, lightweight plastics.