- Email: [email protected]
Cabot posts improved income on lower sales in 4Q & full-year 2016
FINANCIALS
has represented the company in the personal and health care sectors. However, with the opening of the Tehran office, Croda says it now has the potential to capture growth in markets that are core to its business, including polymer additives, geo technologies, lubricants and crop care. The office is headed by country manager Gilda Zakari. Iran is one of the three largest national markets in the Middle East region, alongside Turkey and Egypt, with a population of around 79 million and an annual gross domestic product of about US$412 billion, according to estimates from the International Monetary Fund. Major industries in Iran centre on manufacturing and infrastructure, such as oil & gas, mining and transport. In other news, Croda has been awarded Gold Status by EcoVadis for the third year running. It received its highest score to date, being placed in the top 1% of more than 20 000 companies rated by the sustainability assessment platform. EcoVadis considers environmental, labour, fair business and sustainable procurement practices. Currently, around 70% of Croda’s raw materials come from renewable sources, the company reports. Contact: Croda International plc, Snaith, UK. Tel: +44 1405 860551, Web: www.croda.com
Holland Colours completes European laboratory upgrades
D
utch colorants producer Holland Colours has completed a E330 000, 12-month upgrade of the laboratory facilities at its headquarters in Apeldoorn, the Netherlands. The company has also installed additional equipment at its labs in the UK and Hungary. According to Holland Colours, the comprehensive refit of the Dutch lab, plus new equipment at the UK and Hungarian facilities, enables it to enhance the services it offers to its customers. The investment includes the purchase of two PET blow-moulding machines, two injection moulding machines for producing plaques (one each for the Dutch and UK labs), and two testing roll mill machines (for the Dutch and Hungarian labs). The improvements at the Dutch lab also include the acquisition of the latest Minolta colouring software, which makes it possible to see immediately the effect of small changes in pigments, Holland Colours says. Other upgrades there focus on health and safety, with new air conditioning, air purifier and fume dust extraction equipment. The
February 2017
layout of the lab has also been rejigged to create more space. Holland Colours has colour-matching laboratories in the Netherlands, the UK, USA, Hungary and Indonesia. Contact: Holland Colours NV, Apeldoorn, The Netherlands. Tel: +31 55 368 0700, Web: www.hollandcolours.com
Ineos buys Resysta licence for renewable PVC filler
I
neos Compounds has entered into a license agreement with Resysta International GmbH. Under the terms of the agreement, Ineos will acquire the rights to the exclusive production and marketing of Active Resysta Filler (ARF) in Europe. ARF is the key raw material for the production of Resysta PVC Compound, which is used in a wide range of woodreplacement applications, the companies say. The renewably sourced, rice-husk-based filler will initially be manufactured at the Ineos Compounds site in Sins, Switzerland, which is well placed to respond to the growing demand from customers in Europe. ARF-PVC compounds are reported to be weather- and water-resistant. Ineos Compounds is a PVC compound manufacturer with three sites located in the UK, Switzerland and Sweden. Founded in 2011, Resysta International is a privately-owned technology company cooperating with industry partners worldwide to leverage the potential of ARF in wood-substitution applications. Contact: Ineos Compounds, Sins, Switzerland. Tel: +41 41 789 8 200, Web: www.ineos.com Or contact: Resysta International GmbH, Taufkirchen bei München, Germany. Tel: +49 89 622 33 970, Web: www.resysta.com
FINANCIALS Cabot posts improved income on lower sales in 4Q & full-year 2016
F
or the fourth quarter of its 2016 fiscal year, Cabot Corp posted net income attributable to
Additives for Polymers
9
FINANCIALS
the company of US$52 million, up from $40 million a year earlier. Net income for the full fiscal year ended 30 September 2016 was $149 million, overturning a loss of $334 million in fiscal 2015. The company’s net sales fell in both reporting periods, from $671 million in 4Q fiscal 2015 to $619 million, and from $2.87 billion in fiscal 2015 to $2.41 billion in fiscal 2016. According to Cabot CEO Sean Keohane, the strong fourth quarter was driven primarily by ‘strong margins and cost management’. The Performance Chemicals and Reinforcement Materials segments each delivered positive results compared to the same quarter in 2015, while Performance Chemicals also delivered a third consecutive year of record EBIT, he reports. Reinforcement Materials recorded sales of $289 million in 4Q fiscal 2016, down from $338 million a year earlier. Annual sales for the segment were $1.11 billion compared to $1.51 billion in fiscal 2015. Segment EBIT was $42 million in 4Q 2016, up from $31 million the previous year principally driven by favourable pricing and product mix, Cabot says. Volumes declined by 3% year on year during 4Q fiscal 2016 as a result of lower volumes in EMEA and Asia, primarily due to the closure of the Merak site in Indonesia [ADPO, January 2016]. For the full fiscal year, the segment’s EBIT was $137 million, down from $143 million in fiscal 2015. The Performance Chemicals segment generated sales of $214 million in the final quarter of the company’s fiscal year, down from $227 million for 4Q fiscal 2015. Annual sales fell from $927 million in fiscal 2015 to $865 million. The segment posted EBIT of $58 million in 4Q fiscal 2016 and $225 million for the full year, up in both periods from EBIT of $49 million and $178 million, respectively, in 2015. The company attributes the increase in 4Q EBIT to improved margins from a stronger product mix and lower raw material costs. Volumes increased by 3% in the speciality carbons and formulations business, Cabot reports. In other company news, Cabot recently announced plans to establish a new application innovation laboratory at its Asian headquarters in Shanghai, China. The new Asia Technology Center will have an initial staff of 30, the company says. The lab is due to open in August 2017. ‘This lab will promote the development of emerging technologies for a variety of end markets and reaffirms our multi-disciplinary R&D capabilities to drive innovation in key growth areas’, says Jeff Zhu, Cabot’s president of
10
Additives for Polymers
the Asia Pacific region. China accounted for some 17% of the company’s revenues in 2015. Cabot’s Chinese subsidiary has also recently signed an agreement with Inner Mongolia Hengyecheng Silicone (HYC) to form a joint venture (JV) to manufacture fumed silica in China. Cabot will hold an 80% share in the JV and HYC the remaining 20%. The JV will invest approximately $60 million to build a world-class fumed silica plant to be located in Wuhai, China. The new facility will have a manufacturing capacity of 8000 tonnes/year. Subject to obtaining the necessary approvals, construction of the plant is expected to begin in early 2017 and will be completed in 2019. Cabot comments that the project will allow it to meet growing demand for its high-performance fumed silica, enabled by a long-term reliable source of feedstock. Contact: Cabot Corp, Boston, MA, USA. Tel: +1 617 345 0100, Web: www.cabotcorp.com
Lanxess reports strong income development in 3Q 2016; again raises full-year guidance
F
or the third quarter of 2016, Germany’s Lanxess reported net income of E62 million, an increase of 51.2% from the figure of E41 million achieved a year earlier. Net sales for the quarter were E1.92 billion, down slightly from E1.95 billion in 3Q 2015 as lower selling prices resulting from reduced raw material prices offset higher sales volumes in all segments. The company’s EBITDA pre-exceptionals rose by 9.4% to E257 million in 3Q 2016, compared with E235 million a year earlier. The associated margin improved year on year from 12% to 13.4%. According to the company, the good overall earnings performance was due especially to the strong operational development of the ‘new’ Lanxess segments – Advanced Intermediates, Performance Chemicals and High Performance Materials – as well as improved cost structures. ‘We took the momentum from the first half of the year into the third quarter and delivered renewed proof of the operational strength of ‘new’ Lanxess. We are therefore again raising our guidance for the full year’, says Lanxess board chairman Matthias Zachert. EBITDA pre-exceptionals for full-year 2016 is
February 2017
has represented the company in the personal and health care sectors. However, with the opening of the Tehran office, Croda says it now has the potential to capture growth in markets that are core to its business, including polymer additives, geo technologies, lubricants and crop care. The office is headed by country manager Gilda Zakari. Iran is one of the three largest national markets in the Middle East region, alongside Turkey and Egypt, with a population of around 79 million and an annual gross domestic product of about US$412 billion, according to estimates from the International Monetary Fund. Major industries in Iran centre on manufacturing and infrastructure, such as oil & gas, mining and transport. In other news, Croda has been awarded Gold Status by EcoVadis for the third year running. It received its highest score to date, being placed in the top 1% of more than 20 000 companies rated by the sustainability assessment platform. EcoVadis considers environmental, labour, fair business and sustainable procurement practices. Currently, around 70% of Croda’s raw materials come from renewable sources, the company reports. Contact: Croda International plc, Snaith, UK. Tel: +44 1405 860551, Web: www.croda.com
Holland Colours completes European laboratory upgrades
D
utch colorants producer Holland Colours has completed a E330 000, 12-month upgrade of the laboratory facilities at its headquarters in Apeldoorn, the Netherlands. The company has also installed additional equipment at its labs in the UK and Hungary. According to Holland Colours, the comprehensive refit of the Dutch lab, plus new equipment at the UK and Hungarian facilities, enables it to enhance the services it offers to its customers. The investment includes the purchase of two PET blow-moulding machines, two injection moulding machines for producing plaques (one each for the Dutch and UK labs), and two testing roll mill machines (for the Dutch and Hungarian labs). The improvements at the Dutch lab also include the acquisition of the latest Minolta colouring software, which makes it possible to see immediately the effect of small changes in pigments, Holland Colours says. Other upgrades there focus on health and safety, with new air conditioning, air purifier and fume dust extraction equipment. The
February 2017
layout of the lab has also been rejigged to create more space. Holland Colours has colour-matching laboratories in the Netherlands, the UK, USA, Hungary and Indonesia. Contact: Holland Colours NV, Apeldoorn, The Netherlands. Tel: +31 55 368 0700, Web: www.hollandcolours.com
Ineos buys Resysta licence for renewable PVC filler
I
neos Compounds has entered into a license agreement with Resysta International GmbH. Under the terms of the agreement, Ineos will acquire the rights to the exclusive production and marketing of Active Resysta Filler (ARF) in Europe. ARF is the key raw material for the production of Resysta PVC Compound, which is used in a wide range of woodreplacement applications, the companies say. The renewably sourced, rice-husk-based filler will initially be manufactured at the Ineos Compounds site in Sins, Switzerland, which is well placed to respond to the growing demand from customers in Europe. ARF-PVC compounds are reported to be weather- and water-resistant. Ineos Compounds is a PVC compound manufacturer with three sites located in the UK, Switzerland and Sweden. Founded in 2011, Resysta International is a privately-owned technology company cooperating with industry partners worldwide to leverage the potential of ARF in wood-substitution applications. Contact: Ineos Compounds, Sins, Switzerland. Tel: +41 41 789 8 200, Web: www.ineos.com Or contact: Resysta International GmbH, Taufkirchen bei München, Germany. Tel: +49 89 622 33 970, Web: www.resysta.com
FINANCIALS Cabot posts improved income on lower sales in 4Q & full-year 2016
F
or the fourth quarter of its 2016 fiscal year, Cabot Corp posted net income attributable to
Additives for Polymers
9
FINANCIALS
the company of US$52 million, up from $40 million a year earlier. Net income for the full fiscal year ended 30 September 2016 was $149 million, overturning a loss of $334 million in fiscal 2015. The company’s net sales fell in both reporting periods, from $671 million in 4Q fiscal 2015 to $619 million, and from $2.87 billion in fiscal 2015 to $2.41 billion in fiscal 2016. According to Cabot CEO Sean Keohane, the strong fourth quarter was driven primarily by ‘strong margins and cost management’. The Performance Chemicals and Reinforcement Materials segments each delivered positive results compared to the same quarter in 2015, while Performance Chemicals also delivered a third consecutive year of record EBIT, he reports. Reinforcement Materials recorded sales of $289 million in 4Q fiscal 2016, down from $338 million a year earlier. Annual sales for the segment were $1.11 billion compared to $1.51 billion in fiscal 2015. Segment EBIT was $42 million in 4Q 2016, up from $31 million the previous year principally driven by favourable pricing and product mix, Cabot says. Volumes declined by 3% year on year during 4Q fiscal 2016 as a result of lower volumes in EMEA and Asia, primarily due to the closure of the Merak site in Indonesia [ADPO, January 2016]. For the full fiscal year, the segment’s EBIT was $137 million, down from $143 million in fiscal 2015. The Performance Chemicals segment generated sales of $214 million in the final quarter of the company’s fiscal year, down from $227 million for 4Q fiscal 2015. Annual sales fell from $927 million in fiscal 2015 to $865 million. The segment posted EBIT of $58 million in 4Q fiscal 2016 and $225 million for the full year, up in both periods from EBIT of $49 million and $178 million, respectively, in 2015. The company attributes the increase in 4Q EBIT to improved margins from a stronger product mix and lower raw material costs. Volumes increased by 3% in the speciality carbons and formulations business, Cabot reports. In other company news, Cabot recently announced plans to establish a new application innovation laboratory at its Asian headquarters in Shanghai, China. The new Asia Technology Center will have an initial staff of 30, the company says. The lab is due to open in August 2017. ‘This lab will promote the development of emerging technologies for a variety of end markets and reaffirms our multi-disciplinary R&D capabilities to drive innovation in key growth areas’, says Jeff Zhu, Cabot’s president of
10
Additives for Polymers
the Asia Pacific region. China accounted for some 17% of the company’s revenues in 2015. Cabot’s Chinese subsidiary has also recently signed an agreement with Inner Mongolia Hengyecheng Silicone (HYC) to form a joint venture (JV) to manufacture fumed silica in China. Cabot will hold an 80% share in the JV and HYC the remaining 20%. The JV will invest approximately $60 million to build a world-class fumed silica plant to be located in Wuhai, China. The new facility will have a manufacturing capacity of 8000 tonnes/year. Subject to obtaining the necessary approvals, construction of the plant is expected to begin in early 2017 and will be completed in 2019. Cabot comments that the project will allow it to meet growing demand for its high-performance fumed silica, enabled by a long-term reliable source of feedstock. Contact: Cabot Corp, Boston, MA, USA. Tel: +1 617 345 0100, Web: www.cabotcorp.com
Lanxess reports strong income development in 3Q 2016; again raises full-year guidance
F
or the third quarter of 2016, Germany’s Lanxess reported net income of E62 million, an increase of 51.2% from the figure of E41 million achieved a year earlier. Net sales for the quarter were E1.92 billion, down slightly from E1.95 billion in 3Q 2015 as lower selling prices resulting from reduced raw material prices offset higher sales volumes in all segments. The company’s EBITDA pre-exceptionals rose by 9.4% to E257 million in 3Q 2016, compared with E235 million a year earlier. The associated margin improved year on year from 12% to 13.4%. According to the company, the good overall earnings performance was due especially to the strong operational development of the ‘new’ Lanxess segments – Advanced Intermediates, Performance Chemicals and High Performance Materials – as well as improved cost structures. ‘We took the momentum from the first half of the year into the third quarter and delivered renewed proof of the operational strength of ‘new’ Lanxess. We are therefore again raising our guidance for the full year’, says Lanxess board chairman Matthias Zachert. EBITDA pre-exceptionals for full-year 2016 is
February 2017