- Email: [email protected]
Albemarle's results decline in third quarter 2012
FINANCIALS
activities relating to polymers are now focused on organic peroxides and acrylic impact modifiers.
appropriate steps’ to ensure its financial strength and future growth if economic uncertainty continues.
Contact: Arkema, Colombes Cedex, France. Tel: +33 1 4900 8080, Web: www.arkema.com
Contact: Albemarle Corp, Baton Rouge, LA, USA. Tel: +1 225 388 7402, Web: www.albemarle.com
Albemarle’s results decline in third quarter 2012
PolyOne delivers strong results in 3Q 2012, acquires Spartech
F
F
or the third quarter of 2012, Albemarle Corp reported earnings of US$99.3 million on net sales of $661 million. A year earlier the company delivered earnings of $116.1 million on net sales of $723 million. The declines were attributed to the challenging economic conditions. Albemarle’s CEO Luke Kissam says he is pleased with the results ‘given the challenging economic environment’. Sales were particularly affected by significant reductions in metals surcharges. Polymer Solutions faced severe deterioration in the electronics and European construction markets, but its performance was ‘further evidence of the improvements we have made to this business since the 2008/2009 recession’, he comments. While expecting the fourth quarter to be even more difficult, Kissam says he remains confident in the company’s ability to grow its business in 2013. Polymer Solutions reported net sales of $217.0 million in 3Q 2012, an 11% decrease over net sales in 3Q 2011, due mainly to unfavourable pricing and mix, foreign currency impacts and the effects of exiting the phosphorus flame retardants (FR) business in 2Q 2012, on top of weaker volumes in the electronics and European construction markets. Segment income was $43.6 million in 3Q 2012, a 20% decline, although negative impacts were offset by lower input costs, lower charges attributable to its Jordanian joint venture and favourable impacts from exiting the phosphorus FR business. Albemarle anticipates that Polymer Solutions will face soft end-market demand and low factory operating rates at least until the Chinese New Year in February. The company expects to grow profitability in all three of its business segments in 2013, but says it is ‘prepared to take
December 2012
or the third quarter of 2012, PolyOne Corp posted net income of US$24.0 million, up 11% compared with net income of $21.6 million in 3Q 2011. Net sales in 3Q 2012 were $740.2 million, up marginally from $735.8 million in 3Q 2011. The company reported expanded operating margins and operating profits for all business platforms, driven by its mix improvement strategy. Describing the quarter as ‘outstanding on many dimensions’, CEO Stephen Newlin comments that innovation was a ‘significant driver of mix improvement’. For the Global Specialty Engineered Materials segment sales of $136.6 million in 3Q 2012 were down 7% on the same period in 2011 but operating income rose 19% year on year to $13.1 million. Sales for the Global Color, Additives and Inks segment rose 25% to $172.6 million while operating income increased by 51% to $16.5 million. In other developments, PolyOne is to acquire Spartech, a producer of plastic products including polymeric compounds, concentrates, custom extruded sheet and rollstock products. The total transaction value is around $393 million including the assumption of net debt, and the transaction is expected to complete by first quarter 2013. Spartech operates 30 facilities in the USA, Mexico, Canada and France. It achieved sales and adjusted EBITDA of approximately $1.2 billion and $53.1 million, respectively, for the 12 months ended 4 August 2012. Contact: PolyOne Corp, Avon Lake, OH, USA. Tel: +1 440 930 1000, Web: www.polyone.com
Additives for Polymers
11
activities relating to polymers are now focused on organic peroxides and acrylic impact modifiers.
appropriate steps’ to ensure its financial strength and future growth if economic uncertainty continues.
Contact: Arkema, Colombes Cedex, France. Tel: +33 1 4900 8080, Web: www.arkema.com
Contact: Albemarle Corp, Baton Rouge, LA, USA. Tel: +1 225 388 7402, Web: www.albemarle.com
Albemarle’s results decline in third quarter 2012
PolyOne delivers strong results in 3Q 2012, acquires Spartech
F
F
or the third quarter of 2012, Albemarle Corp reported earnings of US$99.3 million on net sales of $661 million. A year earlier the company delivered earnings of $116.1 million on net sales of $723 million. The declines were attributed to the challenging economic conditions. Albemarle’s CEO Luke Kissam says he is pleased with the results ‘given the challenging economic environment’. Sales were particularly affected by significant reductions in metals surcharges. Polymer Solutions faced severe deterioration in the electronics and European construction markets, but its performance was ‘further evidence of the improvements we have made to this business since the 2008/2009 recession’, he comments. While expecting the fourth quarter to be even more difficult, Kissam says he remains confident in the company’s ability to grow its business in 2013. Polymer Solutions reported net sales of $217.0 million in 3Q 2012, an 11% decrease over net sales in 3Q 2011, due mainly to unfavourable pricing and mix, foreign currency impacts and the effects of exiting the phosphorus flame retardants (FR) business in 2Q 2012, on top of weaker volumes in the electronics and European construction markets. Segment income was $43.6 million in 3Q 2012, a 20% decline, although negative impacts were offset by lower input costs, lower charges attributable to its Jordanian joint venture and favourable impacts from exiting the phosphorus FR business. Albemarle anticipates that Polymer Solutions will face soft end-market demand and low factory operating rates at least until the Chinese New Year in February. The company expects to grow profitability in all three of its business segments in 2013, but says it is ‘prepared to take
December 2012
or the third quarter of 2012, PolyOne Corp posted net income of US$24.0 million, up 11% compared with net income of $21.6 million in 3Q 2011. Net sales in 3Q 2012 were $740.2 million, up marginally from $735.8 million in 3Q 2011. The company reported expanded operating margins and operating profits for all business platforms, driven by its mix improvement strategy. Describing the quarter as ‘outstanding on many dimensions’, CEO Stephen Newlin comments that innovation was a ‘significant driver of mix improvement’. For the Global Specialty Engineered Materials segment sales of $136.6 million in 3Q 2012 were down 7% on the same period in 2011 but operating income rose 19% year on year to $13.1 million. Sales for the Global Color, Additives and Inks segment rose 25% to $172.6 million while operating income increased by 51% to $16.5 million. In other developments, PolyOne is to acquire Spartech, a producer of plastic products including polymeric compounds, concentrates, custom extruded sheet and rollstock products. The total transaction value is around $393 million including the assumption of net debt, and the transaction is expected to complete by first quarter 2013. Spartech operates 30 facilities in the USA, Mexico, Canada and France. It achieved sales and adjusted EBITDA of approximately $1.2 billion and $53.1 million, respectively, for the 12 months ended 4 August 2012. Contact: PolyOne Corp, Avon Lake, OH, USA. Tel: +1 440 930 1000, Web: www.polyone.com
Additives for Polymers
11