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Axalta Coating Systems to Acquire Century Industrial Coatings
FOCUS PPG reports 4Q and FY 2016 financial results: key figures PPG has reported its financial results for 4Q and FY 2016. In 4Q 2016, net sales were $3497 M versus $3552 M in 4Q 2015. Cost of sales (exclusive of depreciation and amortization) was $1968 M versus $1997 M in 4Q 2015. Selling, R&D and administrative expenses were $986 M versus $1031 M in 4Q 2015. Income from continuing operations before income taxes was $140 M versus $390 M in 4Q 2015. Net income (attributable to PPG) was $344 M ($1.31/share) versus $314 M ($1.17/share) in 4Q 2015. In FY 2016, net sales were $14,751 M versus $14,766 M in FY 2015. Cost of sales (exclusive of depreciation and amortization) was $8063 M versus $8206 M in FY 2015. Selling, R&D and administrative expenses were $4082 M versus $4100 M in FY 2015. Income from continuing operations before income taxes was $827 M versus $1783 M in FY 2015. Net income (attributable to PPG) was $877 M ($3.30/share) versus $1406 M ($5.18/share) in FY 2015.
Original Source: PPG Industries, 19-Jan-2017 (Website: http://www.ppg.com/), Copyright PPG Industries 2017.
PPG reports 4Q and FY 2016 financial results: Industrial Coatings For PPG's Industrial Coatings segment, in 4Q 2016, net sales were $1437 M versus $1371 M in 4Q 2015. Income was $236 M versus $240 M in 4Q 2015. In FY 2016, net sales were $5690 M versus $5476 M in FY 2015. Income was $1042 M versus $985 M in FY 2015.
Original Source: PPG Industries, 19-Jan-2017 (Website: http://www.ppg.com/, Copyright PPG Industries 2017.
Asian Paints consolidated income from operations for 3Q FY 2017 increases by 2.6% Asian Paints Ltd announced its financial results for 3Q FY 2017 and nine months ended 31 Dec 2016. For 3Q FY 2017 ended 31 Dec 2016, on consolidation of accounts of the subsidiaries and associates of Asian Paints - income from operations has risen by 2.6% to Rup 4353.99 crores from Rup 4245.16 crores. Profit before depreciation interest and tax (PBDIT) for the group decreased by 1.2% to Rup 776.33 crores from Rup 785.49 crores. Profit before tax (PBT) increased by 3.6% to Rup 723.09 crores from Rup 698.00 crores. Net profit increased by 1.5% to Rup 489.31 crores as compared to Rup 482.02 crores in the previous corresponding period. Income from operations increased by 0.7% to Rup 3637.32 crores from Rup 3611.40 crores. PBDIT for 3Q FY 2017 decreased by 5.9% to Rup 670.93 crores from Rup 713.16 crores. Net profit increased by 0.5% to Rup 425.83 crores as compared to Rup 423.57 crores in the previous corresponding period. For the nine months ended 31 Dec 2016, Asian Paints Group income from operations has increased by 7.5% to Rup 12,668.53 crores from Rup 11,787.86 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 11.5% to Rup 2309.56
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crores from Rup 2072.10 crores. Profit before tax (PBT) increased by 13.7% to Rup 2225.13 crores from Rup 1956.29 crores. Net profit increased by 12.4% to Rup 1536.63 crores as compared to Rup 1367.31 crores in the previous corresponding period. Income from operations increased by 6.7% to Rup 10,598.28 crores from Rup 9928.75 crores. PBDIT for the period increased by 9.3% to Rup 2032.31 crores from Rup 1858.93 crores. Net profit on a standalone basis increased by 11.5% to Rup 1362.28 crores as compared to Rup 1221.86 crores in the previous corresponding period. (1 crore = 10 M, 1 lakh = 100,000).
Original source: Asian Paints, 23-Jan-2017, (Website: http://www.asianpaints.com/, Copyright Asian Paints Ltd 2017.
Axalta Coating Systems to Acquire Century Industrial Coatings Axalta Coating Systems (AXTA), a leading global supplier of liquid and powder coatings, announced today that it has entered into an agreement to acquire Century Industrial Coatings, a leading manufacturer of high performance industrial coatings for structural steel, oil and gas, rail cars and other OEM applications. Financial terms of the transaction were not disclosed. Established in 1966, Century manufactures coatings that are among the leaders in performance and environmental compliance. Well-known Century products include CenturyGuardTM water-based primers, Century ExtremeTM epoxy and polyurethane coatings and Century EcoExtremeTM, a low volatile organic compound (VOC) family of zincrich epoxy and urethane products. As a testament to its technical leadership, Century was recently presented with the Texas Environmental Excellence Award for a waterbased joist primer which significantly improved the reduction of ozone-harming emissions.
Original Source: Kimibiz, 1-Feb-2017, (Website: http://www.kimibiz.com), Copyright Axalta Coating Systems 2017.
Tronox to buy Cristal’s TiO2 business for $1.673B Tronox (NYSE:TROX) +10.9% premarket after announcing a lighter than expected Q4 loss and an agreement to acquire the TiO2 business of privately held chemical and mining Cristal for $1.673B in cash and stock. TROX says the combined company will operate 11 TiO2 pigment plants in eight countries with a total capacity of 1.3 M metric tons/year and will have titanium feedstock operations in three countries with a total capacity of 1.5 M metric tons/year. TROX expects to fund the cash portion of the purchase through the sale of assets, including its Alkali business; the share sale represents 24% ownership in pro forma Tronox. Since the company does not plan to take on new debt in the acquisition, it projects a 50% cut in its net leverage ratio. EPS accretion of more than 100% in the first year, and pro forma EPS, EBITDA and free cash flow growth rates to improve by a respective 70%, 30% and 60%, respectively, vs. standalone Tronox during 2018-21.
Original Source: Kimibiz, 21-Feb-2017, (Website: http://www.kimibiz.com), Copyright Tronox 2017.
C OAT I N G S Pruitt Begins as EPA Leader On Feb. 21 newly confirmed Environmental Protection Agency Administrator Scott Pruitt delivered his first speech to his employees and the nation, making it clear he intends on following President Donald Trump's lead and stepping back from the regulations that had been set forth by the Obama administration. Though divisive as a pick as the former Oklahoma attorney general was, his speech merely made mention of the political tension at the federal level, and instead focused on the new relationship he hopes the EPA to have with each state. "In this environment we live in this country today . . . it's a very toxic environment,'' Pruitt said. "We have jerseys that we put on both politically and otherwise. And that's something, I think, is damaging to finding results and answers.'' As an attorney general, Pruitt often went rounds with the EPA and joined more than a dozen lawsuits challenging EPA actions by the former administration. He historically hasn't shied away from an alliance with fossil fuel firms and maintained that he had stood up for the concerns of Oklahoma's largest industries. In his speech Pruitt gave a few nods to his incoming cooperative federalist approach to running the agency, which should give states a larger collaborative role, a stance that seems to be going over well for some organizations. And while he may face opposition from inside his own team (nearly 800 former EPA officials penned a letter opposing his nomination), Pruitt is receiving seemingly equal amounts of applause throughout the country similar to that from the NAHB. Such support comes from the American Chemistry Council, which has the implementation of the Lautenberg Chemical Safety Act on its wish list. "We look forward to working with Administrator Pruitt, his team and the dedicated EPA staff to ensure that credible science and transparency are at the heart of regulatory decisions and that our nation's key environmental statutes are implemented in a sensible manner,'' the ACC said in a press release.
Original Source: Durability and Design, 22-Feb2017. (Website: http://www. durabilityanddesign.com) Copyright Technology Publishing Co. 2017.
TECHNOLOGY New Polyether Ether Ketone Powders for Tribological Coatings Evonik has developed the innovative polyether ether ketone (PEEK) powders VESTAKEEP®. It reduces the wear and tear of components in demanding industrial applications. The PEEK powders of Evonik's VESTAKEEP® brand are particularly suitable for applications that are subjected to extreme requirements like: mechanical, thermal and chemical exposure. The coating material is able to withstand permanent operating temperatures of up to 250 8C and is characterized by its unique ability to resist abrasion and chemicals.
March 2017
Original Source: PPG Industries, 19-Jan-2017 (Website: http://www.ppg.com/), Copyright PPG Industries 2017.
PPG reports 4Q and FY 2016 financial results: Industrial Coatings For PPG's Industrial Coatings segment, in 4Q 2016, net sales were $1437 M versus $1371 M in 4Q 2015. Income was $236 M versus $240 M in 4Q 2015. In FY 2016, net sales were $5690 M versus $5476 M in FY 2015. Income was $1042 M versus $985 M in FY 2015.
Original Source: PPG Industries, 19-Jan-2017 (Website: http://www.ppg.com/, Copyright PPG Industries 2017.
Asian Paints consolidated income from operations for 3Q FY 2017 increases by 2.6% Asian Paints Ltd announced its financial results for 3Q FY 2017 and nine months ended 31 Dec 2016. For 3Q FY 2017 ended 31 Dec 2016, on consolidation of accounts of the subsidiaries and associates of Asian Paints - income from operations has risen by 2.6% to Rup 4353.99 crores from Rup 4245.16 crores. Profit before depreciation interest and tax (PBDIT) for the group decreased by 1.2% to Rup 776.33 crores from Rup 785.49 crores. Profit before tax (PBT) increased by 3.6% to Rup 723.09 crores from Rup 698.00 crores. Net profit increased by 1.5% to Rup 489.31 crores as compared to Rup 482.02 crores in the previous corresponding period. Income from operations increased by 0.7% to Rup 3637.32 crores from Rup 3611.40 crores. PBDIT for 3Q FY 2017 decreased by 5.9% to Rup 670.93 crores from Rup 713.16 crores. Net profit increased by 0.5% to Rup 425.83 crores as compared to Rup 423.57 crores in the previous corresponding period. For the nine months ended 31 Dec 2016, Asian Paints Group income from operations has increased by 7.5% to Rup 12,668.53 crores from Rup 11,787.86 crores. Profit before depreciation interest and tax (PBDIT) for the group has increased by 11.5% to Rup 2309.56
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crores from Rup 2072.10 crores. Profit before tax (PBT) increased by 13.7% to Rup 2225.13 crores from Rup 1956.29 crores. Net profit increased by 12.4% to Rup 1536.63 crores as compared to Rup 1367.31 crores in the previous corresponding period. Income from operations increased by 6.7% to Rup 10,598.28 crores from Rup 9928.75 crores. PBDIT for the period increased by 9.3% to Rup 2032.31 crores from Rup 1858.93 crores. Net profit on a standalone basis increased by 11.5% to Rup 1362.28 crores as compared to Rup 1221.86 crores in the previous corresponding period. (1 crore = 10 M, 1 lakh = 100,000).
Original source: Asian Paints, 23-Jan-2017, (Website: http://www.asianpaints.com/, Copyright Asian Paints Ltd 2017.
Axalta Coating Systems to Acquire Century Industrial Coatings Axalta Coating Systems (AXTA), a leading global supplier of liquid and powder coatings, announced today that it has entered into an agreement to acquire Century Industrial Coatings, a leading manufacturer of high performance industrial coatings for structural steel, oil and gas, rail cars and other OEM applications. Financial terms of the transaction were not disclosed. Established in 1966, Century manufactures coatings that are among the leaders in performance and environmental compliance. Well-known Century products include CenturyGuardTM water-based primers, Century ExtremeTM epoxy and polyurethane coatings and Century EcoExtremeTM, a low volatile organic compound (VOC) family of zincrich epoxy and urethane products. As a testament to its technical leadership, Century was recently presented with the Texas Environmental Excellence Award for a waterbased joist primer which significantly improved the reduction of ozone-harming emissions.
Original Source: Kimibiz, 1-Feb-2017, (Website: http://www.kimibiz.com), Copyright Axalta Coating Systems 2017.
Tronox to buy Cristal’s TiO2 business for $1.673B Tronox (NYSE:TROX) +10.9% premarket after announcing a lighter than expected Q4 loss and an agreement to acquire the TiO2 business of privately held chemical and mining Cristal for $1.673B in cash and stock. TROX says the combined company will operate 11 TiO2 pigment plants in eight countries with a total capacity of 1.3 M metric tons/year and will have titanium feedstock operations in three countries with a total capacity of 1.5 M metric tons/year. TROX expects to fund the cash portion of the purchase through the sale of assets, including its Alkali business; the share sale represents 24% ownership in pro forma Tronox. Since the company does not plan to take on new debt in the acquisition, it projects a 50% cut in its net leverage ratio. EPS accretion of more than 100% in the first year, and pro forma EPS, EBITDA and free cash flow growth rates to improve by a respective 70%, 30% and 60%, respectively, vs. standalone Tronox during 2018-21.
Original Source: Kimibiz, 21-Feb-2017, (Website: http://www.kimibiz.com), Copyright Tronox 2017.
C OAT I N G S Pruitt Begins as EPA Leader On Feb. 21 newly confirmed Environmental Protection Agency Administrator Scott Pruitt delivered his first speech to his employees and the nation, making it clear he intends on following President Donald Trump's lead and stepping back from the regulations that had been set forth by the Obama administration. Though divisive as a pick as the former Oklahoma attorney general was, his speech merely made mention of the political tension at the federal level, and instead focused on the new relationship he hopes the EPA to have with each state. "In this environment we live in this country today . . . it's a very toxic environment,'' Pruitt said. "We have jerseys that we put on both politically and otherwise. And that's something, I think, is damaging to finding results and answers.'' As an attorney general, Pruitt often went rounds with the EPA and joined more than a dozen lawsuits challenging EPA actions by the former administration. He historically hasn't shied away from an alliance with fossil fuel firms and maintained that he had stood up for the concerns of Oklahoma's largest industries. In his speech Pruitt gave a few nods to his incoming cooperative federalist approach to running the agency, which should give states a larger collaborative role, a stance that seems to be going over well for some organizations. And while he may face opposition from inside his own team (nearly 800 former EPA officials penned a letter opposing his nomination), Pruitt is receiving seemingly equal amounts of applause throughout the country similar to that from the NAHB. Such support comes from the American Chemistry Council, which has the implementation of the Lautenberg Chemical Safety Act on its wish list. "We look forward to working with Administrator Pruitt, his team and the dedicated EPA staff to ensure that credible science and transparency are at the heart of regulatory decisions and that our nation's key environmental statutes are implemented in a sensible manner,'' the ACC said in a press release.
Original Source: Durability and Design, 22-Feb2017. (Website: http://www. durabilityanddesign.com) Copyright Technology Publishing Co. 2017.
TECHNOLOGY New Polyether Ether Ketone Powders for Tribological Coatings Evonik has developed the innovative polyether ether ketone (PEEK) powders VESTAKEEP®. It reduces the wear and tear of components in demanding industrial applications. The PEEK powders of Evonik's VESTAKEEP® brand are particularly suitable for applications that are subjected to extreme requirements like: mechanical, thermal and chemical exposure. The coating material is able to withstand permanent operating temperatures of up to 250 8C and is characterized by its unique ability to resist abrasion and chemicals.
March 2017