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Trimite Global Coatings acquires Trimite brand names and IPR
FOCUS depreciation and amortization ratio of less than 2. The restructuring programme launched in Oct 2011 was designed to increase earnings before interest, tax, depreciation and amortization to €500 M by 2014. However this target has been brought forward to 2013. In future, AkzoNobel will focus on 4 key sectors: buildings and infrastructure, transport, industry and consumer goods. From a geographical point of view, the group wants to continue strengthening its presence on emerging markets (which accounted for 44% sales in 2012), but will still pursue further development on mature markets. Original Source: Chimie Pharma Hebdo, 25 Feb 2013, (624), (Website: http://www.industrie.com/chimie/) (in French) © ETAI Information 2013
AkzoNobel Report 2012: AkzoNobel Performance Coatings market review A table gives key figures for AkzoNobel Performance Coatings in 2012 and comparisons with 2011. In 2012 revenue was €5702 M with EBITDA €769 M, EBIT €638 M and operating income €542 M. A pie chart gives % revenue by business unit: Marine and Protective Coatings 28%, Automotive and Aerospace Coatings 18%, Industrial Coatings 23%, Powder Coatings 17%, Wood Finishes and Adhesives 14%. A further table gives employees by geographical region. Further figures give geomix revenue by destination as well as environmental and safety performance. Key developments included the opening of a new manufacturing facility in Vietnam and the realignment of the Business Area to four business units (from five). AkzoNobel Performance Coatings reorganized European activities in several businesses. It began supplying products for Shell’s Prelude floating liquefied natural gas facility off the north west coast of Western Australia. The firm introduced GreenCoat, a coil 4
ON
POWDER
coating topcoat made with a biobased solvent which is a derivative of rapeseed oil. Original Source: AkzoNobel, website: http://www.akzonobel.com (Feb 2013) © AkzoNobel NV 2013
A Schulman makes hostile takeover bid on Ferro US group, A Schulman has made a hostile takeover bid worth $885 M ($6.5/share) on its compatriot Ferro. The offer represents a 25% premium on the value of Ferro’s shares at the close of trading on 1 Mar 2013 but Ferro has rejected the offer, saying it was not in the interest of shareholders. This is not the first time Ferro has turned down a bid from A Schulman. The group began testing the ground in Nov 2012 when it first made contact, followed by a letter expressing its interest in buying Ferro on 13 Feb 2013. Ferro declined this offer saying that it preferred to remain independent. According to Reuters, FrontFour Capital and Quinpario Partners (which own 4.3% of Ferro’s capital) want to see the group look into the possibility of a sale although they believe A Schulman’s bid undervalues Ferro. Ferro is currently in a difficult position after publishing poor results for 2012 (net losses of $374 M). Ferro’s 2012 earnings before interest, tax, depreciation and amortization was cut in half to $94 M and sales dropped by 18% to $1.77 bn. For its part A Schulman posted a 3.7% decline in turnover (for the year to 31 Aug 2012) to $2.11 bn and a 25% increase in net profits to $52 M. A Schulman employs 3300 people and Ferro 4950. A merger between the 2 groups would create a major worldwide speciality chemicals group. Both companies have high added value product lines and similar business models and expertise. If the deal goes ahead, A Schulman’s president Joseph Gingo predicts it would generate $35 M/y synergies. Pie charts illustrate the
C O AT I N G S composition of both A Schulman’s and Ferro’s 2012 turnovers, showing that A Schulman’s largest business was plastic materials ($547 M) and performance coatings was Ferro’s largest ($588 M). Original Source: Chimie Pharma Hebdo, 18 Mar 2013, (626), (Website: http://www.industrie.com/chimie/) (in French) © ETAI Information 2013
Trimite Global Coatings acquires Trimite brand names and IPR Trimite Global Coatings has bought all intellectual property (IPR), including trademarks and brand names, of the former Trimite Ltd business, which entered administration in Mar 2009. Stretford Group, the owner of Trimite Global Coatings, has acquired the rights. Meanwhile, Trimite Global Coatings has announced R&D investments to boost its range of coatings technologies supplied to clients in the UK and overseas. Trimite Global Coatings is a supplier of paints, powder coatings and pretreatments for key markets such as vehicles and engines, defence and aerospace, homeware, security, agricultural and construction equipment and teletronics. Original Source: Coatings World, Mar 2013, 18 (3), 18 (Website: http://www.coatingsworld.com/) © Rodman Publishing 2013
PPG reports record 4Q and full year 2012 results PPG Industries posted net sales of $3.6 bn in 4Q 2012 and net income of $227 M, or $1.46/diluted share, including nonrecurring charges. For full year 2012, the firm’s sales rose by 2% to $15.2 bn from $14.9 bn in 2011. Net income for the entire year dropped to $941 M, or $6.06/diluted share, from $1.1 bn, or $6.87/diluted share. The firm noted the continued good performance of its coatings businesses, with earnings in 4Q 2012 up 30% year on year. The MAY 2013
AkzoNobel Report 2012: AkzoNobel Performance Coatings market review A table gives key figures for AkzoNobel Performance Coatings in 2012 and comparisons with 2011. In 2012 revenue was €5702 M with EBITDA €769 M, EBIT €638 M and operating income €542 M. A pie chart gives % revenue by business unit: Marine and Protective Coatings 28%, Automotive and Aerospace Coatings 18%, Industrial Coatings 23%, Powder Coatings 17%, Wood Finishes and Adhesives 14%. A further table gives employees by geographical region. Further figures give geomix revenue by destination as well as environmental and safety performance. Key developments included the opening of a new manufacturing facility in Vietnam and the realignment of the Business Area to four business units (from five). AkzoNobel Performance Coatings reorganized European activities in several businesses. It began supplying products for Shell’s Prelude floating liquefied natural gas facility off the north west coast of Western Australia. The firm introduced GreenCoat, a coil 4
ON
POWDER
coating topcoat made with a biobased solvent which is a derivative of rapeseed oil. Original Source: AkzoNobel, website: http://www.akzonobel.com (Feb 2013) © AkzoNobel NV 2013
A Schulman makes hostile takeover bid on Ferro US group, A Schulman has made a hostile takeover bid worth $885 M ($6.5/share) on its compatriot Ferro. The offer represents a 25% premium on the value of Ferro’s shares at the close of trading on 1 Mar 2013 but Ferro has rejected the offer, saying it was not in the interest of shareholders. This is not the first time Ferro has turned down a bid from A Schulman. The group began testing the ground in Nov 2012 when it first made contact, followed by a letter expressing its interest in buying Ferro on 13 Feb 2013. Ferro declined this offer saying that it preferred to remain independent. According to Reuters, FrontFour Capital and Quinpario Partners (which own 4.3% of Ferro’s capital) want to see the group look into the possibility of a sale although they believe A Schulman’s bid undervalues Ferro. Ferro is currently in a difficult position after publishing poor results for 2012 (net losses of $374 M). Ferro’s 2012 earnings before interest, tax, depreciation and amortization was cut in half to $94 M and sales dropped by 18% to $1.77 bn. For its part A Schulman posted a 3.7% decline in turnover (for the year to 31 Aug 2012) to $2.11 bn and a 25% increase in net profits to $52 M. A Schulman employs 3300 people and Ferro 4950. A merger between the 2 groups would create a major worldwide speciality chemicals group. Both companies have high added value product lines and similar business models and expertise. If the deal goes ahead, A Schulman’s president Joseph Gingo predicts it would generate $35 M/y synergies. Pie charts illustrate the
C O AT I N G S composition of both A Schulman’s and Ferro’s 2012 turnovers, showing that A Schulman’s largest business was plastic materials ($547 M) and performance coatings was Ferro’s largest ($588 M). Original Source: Chimie Pharma Hebdo, 18 Mar 2013, (626), (Website: http://www.industrie.com/chimie/) (in French) © ETAI Information 2013
Trimite Global Coatings acquires Trimite brand names and IPR Trimite Global Coatings has bought all intellectual property (IPR), including trademarks and brand names, of the former Trimite Ltd business, which entered administration in Mar 2009. Stretford Group, the owner of Trimite Global Coatings, has acquired the rights. Meanwhile, Trimite Global Coatings has announced R&D investments to boost its range of coatings technologies supplied to clients in the UK and overseas. Trimite Global Coatings is a supplier of paints, powder coatings and pretreatments for key markets such as vehicles and engines, defence and aerospace, homeware, security, agricultural and construction equipment and teletronics. Original Source: Coatings World, Mar 2013, 18 (3), 18 (Website: http://www.coatingsworld.com/) © Rodman Publishing 2013
PPG reports record 4Q and full year 2012 results PPG Industries posted net sales of $3.6 bn in 4Q 2012 and net income of $227 M, or $1.46/diluted share, including nonrecurring charges. For full year 2012, the firm’s sales rose by 2% to $15.2 bn from $14.9 bn in 2011. Net income for the entire year dropped to $941 M, or $6.06/diluted share, from $1.1 bn, or $6.87/diluted share. The firm noted the continued good performance of its coatings businesses, with earnings in 4Q 2012 up 30% year on year. The MAY 2013