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Asian Paints 1Q 2008 (period ended 30 Jun 2008): audited financial results
F O C U S depreciation and amortisation margin of at least 14% by the end of 2011. The Dutch group said it plans to deliver synergies from the ICI takeover faster and complete the integration by 2010. The Independent, 30 Sep 2008, (Website: http://www.independent.co.uk)
Paints: PPG restructures its operations Paints and coatings producer PPG has announced a restructuring programme following its acquisition of Dutch company SigmaKalon for $3.1 bn. The deal (which was finalized in Jan 2008) made PPG the world’s second largest producer after Dutch group AkzoNobel. SigmaKalon owns the Avi brand (which covers Total and Petrofina’s businesses in this sector). PPG hopes to achieve savings of $100 M from reorganizing its production. The company is to close paints units in Clarkson, Canada in 2Q 2009 and in Geldermalsen, in the Netherlands in 3Q 2009. These sites employ 150 and 111 people respectively. PPG will also close its glass products factories in Owen Sound, Canada (with the loss of 170 jobs) and a glass production line in Mount Zion, in the US. The company is also planning to close other units in N America. In order to cover its restructuring costs, PPG will register exceptional charges before tax of $160 M against in 3Q 2008 results. The group has announced that its 3Q 2008 results will be affected by other exceptional elements ($35-40 M), particularly the storms in Louisiana, which forced the temporary closure of some of its installations. PPG has also had to deal with falling demand from the automobile and building sectors and it may announce further restructuring in 2009. Chimie Pharma Hebdo, 29 Sep 2008, (438), 9 (in French)
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AkzoNobel opens new protective coatings site in China AkzoNobel has started a new site for production and sales of protective coatings at a cost of €23 M in Suzhou, China. The company is targeting $2 bn revenue by 2012 and 50 M l production level over the next ten years. Chemical Engineering World, Aug 2008, 43 (8), 32
Antimicrobial products: DuPont Powder Coatings relying on natural silver-based solution US group DuPont is to use its compatriot Agion Technologies’ natural silver-based antimicrobial solutions in its Alesta powder paint range. This range is designed for applications where cleanliness is essential. Agion’s antimicrobial agent works by regularly releasing silver ions onto the surface. Thanks to this controlled release, DuPont’s coatings retain their antimicrobial properties throughout their lifespan. Chimie Pharma Hebdo, 29 Sep 2008, (438), 14 (in French)
Asian Paints 1Q 2008 (period ended 30 Jun 2008): audited financial results For its first quarter ended 30 Jun 2008, Asian Paints Ltd has reported total income of Rupees 10.11 bn (Rupees 7.48 bn for the same period of 2007), profit before tax of Rupees 1.45 bn (Rupees 1.12 bn), net profit of Rupees 0.98 bn (Rupees 0.74 bn), and basic & diluted EPS of Rupees 10.22 (Rupees 7.74). The company manufactures paint, phthalic anhydride, and pentaerythritol. Asian Paints Audited Financial Results 1Q 2008-2009 (period ended 30 Jun 2008), 22 Jul 2008, 1 (Asian Paints Ltd, Asian Paints House, 6A Shanti Nagar, Vakola Pipeline, Santacruz (E), Mumbai 400055, India, tel: +91 22 398 18600, fax: +91 22 398 18805, website: http://www.asianpaints.com)
C OAT I N G S
EQUIPMENT Instant-cure powder coating system Engineers at the Tenghis/Chevron pipeline project in the extreme sub-zero climate of Kazakhstan recently tested a Xiom 1000 by applying anti-corrosion coatings to the welded pipe field joints. Following these trials engineers have been adapting this technology to coat the external surfaces of whole pipes. At present the pipeline section are pre-coated in France and shipped out to the oilfields where they often arrive with the coating damaged and in need of repair. The Xiom spray gun is a versatile, hand-held gun operating with oxygen, propane and air. It is portable, light and can be used anywhere on site. The system can apply specialised powder coatings such as nylons, epoxies, thermosets, thermoplastics, antislip and “glow-in-the-dark” coatings to almost any substrate, including concrete, wood, fibreglass, metals, glass and polyurethane. The system can be set up within one hour. Xiom 5000 was launched earlier this year and it has the capability to apply coatings at five times the rate of the Xiom 1000, using the same controls with minimum modification. Press release from: Xiom Europe, website: http://www.xiomeurope.com
MARKETS The Russian market A paper delivered at the recent Fatipec 2008 Congress gave a detailed account of the Russian 2007 coatings market, together with comparative figures for the years 2005 and 2006. Statistics showing the development of the Russian markets were first outlined. The
NOVEMBER 2008
Paints: PPG restructures its operations Paints and coatings producer PPG has announced a restructuring programme following its acquisition of Dutch company SigmaKalon for $3.1 bn. The deal (which was finalized in Jan 2008) made PPG the world’s second largest producer after Dutch group AkzoNobel. SigmaKalon owns the Avi brand (which covers Total and Petrofina’s businesses in this sector). PPG hopes to achieve savings of $100 M from reorganizing its production. The company is to close paints units in Clarkson, Canada in 2Q 2009 and in Geldermalsen, in the Netherlands in 3Q 2009. These sites employ 150 and 111 people respectively. PPG will also close its glass products factories in Owen Sound, Canada (with the loss of 170 jobs) and a glass production line in Mount Zion, in the US. The company is also planning to close other units in N America. In order to cover its restructuring costs, PPG will register exceptional charges before tax of $160 M against in 3Q 2008 results. The group has announced that its 3Q 2008 results will be affected by other exceptional elements ($35-40 M), particularly the storms in Louisiana, which forced the temporary closure of some of its installations. PPG has also had to deal with falling demand from the automobile and building sectors and it may announce further restructuring in 2009. Chimie Pharma Hebdo, 29 Sep 2008, (438), 9 (in French)
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AkzoNobel opens new protective coatings site in China AkzoNobel has started a new site for production and sales of protective coatings at a cost of €23 M in Suzhou, China. The company is targeting $2 bn revenue by 2012 and 50 M l production level over the next ten years. Chemical Engineering World, Aug 2008, 43 (8), 32
Antimicrobial products: DuPont Powder Coatings relying on natural silver-based solution US group DuPont is to use its compatriot Agion Technologies’ natural silver-based antimicrobial solutions in its Alesta powder paint range. This range is designed for applications where cleanliness is essential. Agion’s antimicrobial agent works by regularly releasing silver ions onto the surface. Thanks to this controlled release, DuPont’s coatings retain their antimicrobial properties throughout their lifespan. Chimie Pharma Hebdo, 29 Sep 2008, (438), 14 (in French)
Asian Paints 1Q 2008 (period ended 30 Jun 2008): audited financial results For its first quarter ended 30 Jun 2008, Asian Paints Ltd has reported total income of Rupees 10.11 bn (Rupees 7.48 bn for the same period of 2007), profit before tax of Rupees 1.45 bn (Rupees 1.12 bn), net profit of Rupees 0.98 bn (Rupees 0.74 bn), and basic & diluted EPS of Rupees 10.22 (Rupees 7.74). The company manufactures paint, phthalic anhydride, and pentaerythritol. Asian Paints Audited Financial Results 1Q 2008-2009 (period ended 30 Jun 2008), 22 Jul 2008, 1 (Asian Paints Ltd, Asian Paints House, 6A Shanti Nagar, Vakola Pipeline, Santacruz (E), Mumbai 400055, India, tel: +91 22 398 18600, fax: +91 22 398 18805, website: http://www.asianpaints.com)
C OAT I N G S
EQUIPMENT Instant-cure powder coating system Engineers at the Tenghis/Chevron pipeline project in the extreme sub-zero climate of Kazakhstan recently tested a Xiom 1000 by applying anti-corrosion coatings to the welded pipe field joints. Following these trials engineers have been adapting this technology to coat the external surfaces of whole pipes. At present the pipeline section are pre-coated in France and shipped out to the oilfields where they often arrive with the coating damaged and in need of repair. The Xiom spray gun is a versatile, hand-held gun operating with oxygen, propane and air. It is portable, light and can be used anywhere on site. The system can apply specialised powder coatings such as nylons, epoxies, thermosets, thermoplastics, antislip and “glow-in-the-dark” coatings to almost any substrate, including concrete, wood, fibreglass, metals, glass and polyurethane. The system can be set up within one hour. Xiom 5000 was launched earlier this year and it has the capability to apply coatings at five times the rate of the Xiom 1000, using the same controls with minimum modification. Press release from: Xiom Europe, website: http://www.xiomeurope.com
MARKETS The Russian market A paper delivered at the recent Fatipec 2008 Congress gave a detailed account of the Russian 2007 coatings market, together with comparative figures for the years 2005 and 2006. Statistics showing the development of the Russian markets were first outlined. The
NOVEMBER 2008