Nissei & Toyo Integrate Injection Molding Machine Businesses; Storopack Launches Polyurethane Foam Packaging

International News Guide

Raw Material News - Carbios and Vanke New Materials Reach Long-Term Cooperation on Enzymatic PET Recycling in Asia; First Plant to Land in China

Packaging News - Storopack Launches New Bio-Based Polyurethane Foam Packaging Solution

Equipment News - Merger of Two Major Injection Molding Machine Manufacturers! Nissei Plastic Industrial and Toyo Innovex Sign Business Integration Agreement

Automotive News - Filling Industry Gap! Group Standard "Methods for Security Assessment of Automotive Data Cross-Border Transfer" Released

Macroeconomic News - MOFCOM: Continues to Impose Countervailing Duties on Imported n-Propanol Originating from the U.S.

Price Information - CNY/USD Central Parity Rate Stands at 7.0816, Up 9 Pips

Details of International News

1. Carbios and Vanke New Materials Reach Long-Term Cooperation on Enzymatic PET Recycling in Asia; First Plant to Land in China

French biotechnology company Carbios and Chinese PET manufacturer Vanke New Materials have reached core terms for a long-term cooperation on enzymatic PET recycling technology in Asia.

The two parties plan to build the first joint venture plant in China and are evaluating additional locations, ultimately forming a total PET recycling capacity of approximately 1 million tons per year. The project and related equity investments are subject to the final contract, which the two companies aim to complete by the end of 2025.

2. Brenntag's Performance Declines; Plans to Promote More Restructuring Measures

Brenntag, a global leader in the distribution of chemicals and specialty materials, released its third-quarter results, with both revenue and profit declining.

The company stated that the results reflect a "continuously challenging and volatile market environment." However, driven by cost-cutting measures, its profit still exceeded analysts' general expectations. The weak third-quarter performance prompted the company to clarify that full-year profit will be close to the lower end of the previously announced guidance range.

The company also announced plans to launch additional restructuring measures, including further layoffs, and revealed that it is no longer considering spinning off its two business segments into independent operations. Brenntag's third-quarter net profit fell to €113 million from €118 million in the same period last year, while revenue declined 8.6% year-on-year to €3.7 billion.

Gross profit decreased 7.1% year-on-year to €947 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) slid 11.0% year-on-year to €330 million, but was higher than the consensus expectation of €317 million from S&P Capital IQ.

The company's 2025 EBITA guidance range is €950 million to €1.05 billion, and it currently expects full-year results to be at the lower end of this range. Brenntag's third-quarter operating EBITA was €243 million, a year-on-year decrease of 13.6%.

3. EU ECHA Calls for Evidence on Restricted Substances in Batteries

According to Aksen Environmental Technology, the European Chemicals Agency (ECHA) has launched an evidence-gathering initiative to support the preparation of a research report under the EU Battery Regulation (commonly known as the "New EU Battery Regulation").

This call aims to gather more information on identified substances in batteries, recycling technologies, and substances that may hinder recycling.

4. Merger of Two Major Injection Molding Machine Manufacturers! Nissei Plastic Industrial and Toyo Innovex Sign Business Integration Agreement

Japanese injection molding machine manufacturers Nissei Plastic Industrial Co., Ltd. and Toyo Innovex Co., Ltd. have signed a business integration agreement.

On April 1, 2026, the two companies will become wholly-owned subsidiaries of the parent company GMS Group Co., Ltd. through a joint share transfer. Hozumi Yoda has been appointed Chairman and CEO of the holding company, and Yoshiaki Tabata will serve as President and COO.

The business integration and share transfer are subject to shareholder approval and compliance with the usual licensing requirements of relevant authorities.

5. Storopack Launches New Bio-Based Polyurethane Foam Packaging Solution

Storopack has launched FOAMplus® 7008-BIO, a new polyurethane foam packaging material with sustainability as its core highlight.

The bio-based carbon content in the B component of this polyurethane foam has been measured to exceed 83%, meaning its raw materials are mainly derived from renewable resources, resulting in a significantly lower carbon footprint compared to similar fossil-based products.

6. New Breakthrough in Breathable Chemical Protection! DuPont Launches New Fabric to Enhance Worker Comfort and Safety

DuPont Personal Protection has introduced Tyvek® APX™, a new disposable chemical protective clothing fabric designed to transform the wearer's comfort and safety experience at work.

DuPont Tyvek® fabric is more flexible in application than traditional fabrics and is an extremely versatile material. Its main applications include medical protection (surgical gowns, medical packaging, protective clothing, etc.), military (military maps, etc.), and civilian use (building walls, roof waterproofing, car covers, clothing, agricultural ground cover materials, envelopes, etc.).

7. Novamont: Mater-Bi Mulch Films Qualify as Inorganic Fertilizers, No Persistent Microplastics Released

During Ecomondo (Italy's ecological and environmental exhibition), Novamont announced that its agricultural weed control mulch films made from Mater-Bi material have obtained compliance certification in line with Regulation (EU) 2019/1009 on Fertilizers.

Compared with polyethylene films, this Mater-Bi film is biodegradable in soil and does not require separate disposal at the end of its life cycle. To obtain this certification, it must meet all requirements specified in Implementing Regulation (EU) 2024/2787 — which amends the provisions of Regulation (EU) 2019/1009 on the "biodegradability of polymers used in the production of mulch films in the environment (water and soil)" and "ecotoxicity."

8. Filling Industry Gap! Group Standard "Methods for Security Assessment of Automotive Data Cross-Border Transfer" Released

According to China Automotive Engineering Research Institute Co., Ltd. (CAERI), the group standard "Methods for Security Assessment of Automotive Data Cross-Border Transfer" (T/CIQA131—2025), organized and drafted by the Comprehensive Quality Service Standardization Technical Committee of China Entry-Exit Inspection and Quarantine Association (CIQA/TC12), has recently been officially approved and released, and the standard takes effect from the date of release.

Led by CAERI, the standard was jointly compiled by 25 leading enterprises and institutions in the industry, including Seres Group, BYD Auto, and FAW Group. It fills the gap in specific operational standards for security assessment of automotive data cross-border transfer in the automotive industry and provides clear guidance for enterprises to go global in compliance.


Overseas Macroeconomic Market

【U.S. to Terminate Flight Reduction Measures】

On the evening of November 16 local time, U.S. Transportation Secretary Pete Buttigieg and Federal Aviation Administration (FAA) Administrator Bryan Bedford announced that the emergency order on flight reductions implemented due to the previous federal government shutdown and shortage of air traffic controllers will be officially lifted at 6 a.m. local time on November 17, and the national airspace system will fully resume normal operations.

To alleviate the growing pressure of air traffic controller shortages during the government shutdown and reduce airspace safety risks, the FAA previously decided to gradually reduce domestic flights at 40 major airports across the U.S. starting from November 7, with the reduction rate gradually increasing to 10% by November 14. This measure led to the cancellation of a large number of U.S. flights, resulting in widespread flight delays and airport chaos.

【State Administration of Foreign Exchange: China's Foreign Exchange Market Continues to Operate Steadily】

Li Bin, Deputy Administrator and Spokesperson of the State Administration of Foreign Exchange (SAFE), answered reporters' questions on the foreign exchange market situation in October 2025: Since October, volatility in the international financial market has increased, and the U.S. dollar index has generally moved upward. China's foreign exchange market has continued to operate steadily.

First, the supply and demand in the foreign exchange market are basically balanced. In October, banks recorded a surplus of $17.7 billion in foreign exchange settlements and sales, a slight narrowing month-on-month, with more balanced settlements and sales. Enterprises and other entities conducted foreign exchange settlement and purchase transactions in an orderly manner according to actual needs, and the settlement rate and sales rate were basically the same as the average level in the first nine months.

【MOFA: China Has Always Opposed Unilateral Sanctions Without International Law Basis or UN Security Council Authorization】

Foreign Ministry Spokesperson Mao Ning hosted a regular press conference. A reporter asked: U.S. President Donald Trump has stated that he can accept the measure in the proposed Senate bill to impose sanctions on countries doing business with Russia. What is the foreign ministry's comment on this?

Mao Ning said that China has always opposed unilateral sanctions without a basis in international law or authorization from the UN Security Council.

【MOFCOM: Continues to Impose Countervailing Duties on Imported n-Propanol Originating from the U.S.】

MOFCOM: On the recommendation of the Ministry of Commerce, the Tariff Policy Commission of the State Council has decided that during the sunset review investigation of countervailing measures, countervailing duties will continue to be imposed on imported n-propanol originating from the United States in accordance with the scope of taxed products and tax rates announced in MOFCOM Announcement No. 47 of 2020.

【India Signs 2.2 Million Tons LPG Procurement Agreement with the U.S.】

On the morning of November 17 local time, Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, posted on social media that India's state-owned oil companies have signed a "historic first" procurement agreement with the United States to import approximately 2.2 million tons of liquefied petroleum gas (LPG) annually from the U.S. Gulf Coast, with the agreement valid until 2026.

Puri stated that this is the first structured U.S. LPG procurement contract for the Indian market, accounting for about 10% of India's annual imports.

Price Information

The CNY/USD central parity rate was reported at 7.0816, an increase of 9 pips; the central parity rate of the previous trading day was 7.0825, the official closing price of the previous trading day was 7.1007, and the night session closing price of the previous day was 7.0994.

【Upstream Raw Material USD Market Prices】

Ethylene Asia: CFR Northeast Asia USD 735/ton; CFR Southeast Asia USD 725/ton.

Propylene Northeast Asia: FOB South Korea average USD 695/ton; CFR China average USD 725/ton.

North Asia refrigerated cargo CIF price: Propane USD 508-510/ton; Butane USD 529-531/ton.

South China (China) refrigerated cargo CIF price for early December: Propane USD 548-558/ton; Butane USD 533-543/ton.

Taiwan region refrigerated cargo CIF price: Propane USD 508-510/ton; Butane USD 529-531/ton.

【LLDPE USD Market Prices】

Film: USD 830-855/ton (CFR Huangpu);

Injection Molding: USD 935/ton (CFR Huangpu).

【HDPE USD Market Prices】

Film: USD 860-905/ton (CFR Huangpu);

Injection Molding: USD 820-830/ton (CFR Huangpu);

Blow Molding (Hollow): USD 830-850/ton (CFR Huangpu);

Pipes: USD 1010/ton (CFR Huangpu).

【LDPE USD Market Prices】

Film: USD 1030-1050/ton (CFR Huangpu);

Coating: USD 1190/ton (CFR Huangpu).

【PP USD Market Prices】

Injection Molding: USD 810-915/ton (CFR Huangpu);

Copolymer: USD 825-880/ton (CFR Nansha);

Film Grade: USD 990/ton (CFR Huangpu);

Transparent Grade: USD 1035-1065/ton (CFR Huangpu);

Pipes: USD 1100/ton (CFR Shanghai).