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Ciba full year results 2008
F O C U S industry average return on invested capital (ROIC). Press Release from: Clariant, Switzerland, website: http://clariant.com (17 Feb 2009)
Ciba full year results 2008 In Sep 2008, the Board of Directors recommended a CHF 50 per share public offer from BASF to shareholders to acquire Ciba Holding Inc. The offer was accepted by shareholders in Nov 2008, more than 95% of the company’s shares are tendered to, or have been acquired by, BASF. In addition, the shareholder voting restrictions were lifted at the Extraordinary General Meeting on 2 Dec 2008, on condition that the offer is settled. There are still outstanding regulatory approvals from the competition authorities required before BASF can take full control of Ciba, but these are expected to come through in time to close the transaction in 1Q 2009. Ciba Full Year Results 2008, 10 Feb 2009, 5 (Ciba Inc, Klybeckstrasse 41, CH-4002 Basel, Switzerland, tel: +41 61 636 1111, fax: +41 61 636 2222, website: http://www.cibasc.com)
BASF sees more woes BASF anticipates that economic conditions will remain tough and volatile, and that the business environment will continue to be challenging. The German chemical firm saw a sharp decline in its global business in Dec 2008. Demand for chemical products remained soft in the first half of Jan 2009 as customers continued to eke out stocks. BASF is currently operating at below 75% capacity utilization rate, on average. It is implementing a ‘short-time working’ scheme for roughly 1700 employees at its two facilities in Germany. Under the scheme, loss of earnings is partly offset by government benefits. Similar initiatives are being considered at the company’s large sites in Ludwigshafen, Germany and Antwerp, Belgium. BASF has also taken its 1,4butanediol and tetrahydrofuran 6
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plants at Ulsan, South Korea off line, as well as an automobile coatings unit at Belvidere, NJ, USA. The measures affected a total of 200 jobs. Chemical and Engineering News, 26 Jan 2009, 20 (Website: http://www.cen-online.org)
BASF expands coatings business in ASEAN BASF has strengthened its coatings operations in the ASEAN (The Association of Southeast Asian Nations) region, with Thailand as its hub. BASF (Thai) Ltd has agreed to make Eason Paint Plc (Thailand) the manufacturing base for BASF customers across ASEAN. Eason Paint will exclusively handle production of BASF motorcycle coatings in Thailand. The ASEAN coatings market, valued at €2.8 bn, makes up about 15% of the Asia-Pacific coatings market. Coatings World, Jan 2009, 14 (1), 18
BASF takes steps to optimise its structures BASF is taking steps to optimize its structures and efficiently integrate Ciba’s businesses. The initial organizational changes will be effective as of 1 Apr 2009. The Performance Products segment currently consists of the Acrylics & Dispersions, Care Chemicals and Performance Chemicals divisions. As of 1 Apr 2009, the new division Paper Chemicals will also form part of the segment. This division will initially consist of BASF’s business with paper chemicals business, binders and kaolin minerals, which is currently part of the Acrylics & Dispersions division. The current Acrylics & Dispersions division will be renamed Dispersions & Pigments. This division will bundle BASF’s business with raw materials for the coating and paint industry. As a result, the existing dispersions business will be complemented by the pigments and coatings resins business that is currently part of the Performance Chemicals
C OAT I N G S division. The acrylics business will be reassigned to the Petrochemicals division, which will then encompass the key steps in the propylene value chain. The superabsorbents business will be assigned to the Care Chemicals division. The majority of Ciba’s Coating Effects business will be integrated into the Dispersions & Pigments division. In the Care Chemicals division, BASF is now combining all businesses that contribute to cleaning, personal care and hygiene in addition to human and animal nutrition as well as pharma. The leather and textile chemicals business also forms part of the activities of the current Performance Chemicals division. For several years, this business has been characterized by low market growth and high competitive pressure, and has introduced an additional program to increase efficiency, which is expected to reduce costs by €25 M by 2011. In addition to implementing this cost-reduction program, BASF is reviewing future strategic options. A graphic illustrates the new structure of BASF’s segments and divisions, from 1 Apr 2009. Press release from: BASF SE, D-67056 Ludwigshafen, Germany, tel: +49 (0) 621 600, website: http://www.basf.com (4 Feb 2009)
DuPont Pipeline Success DuPont Coating Solutions has been chosen for a pipeline system in the USA. Borusan Mannesmann, the largest steel pipe manufacturer in Turkey, selected NapGard functional products for an external anticorrosive powder coating application. It will be used on a 312 km steel pipeline for conveying natural gas to Georgia, USA. It is Borusan’s biggest project to date. PPCJ, Polymers, Paint, Colour Journal, Jan 2009, 199 (4532), 43
Chemical industry cuts more jobs Speciality and coatings maker Rohm and Haas will layoff an MARCH 2009
Ciba full year results 2008 In Sep 2008, the Board of Directors recommended a CHF 50 per share public offer from BASF to shareholders to acquire Ciba Holding Inc. The offer was accepted by shareholders in Nov 2008, more than 95% of the company’s shares are tendered to, or have been acquired by, BASF. In addition, the shareholder voting restrictions were lifted at the Extraordinary General Meeting on 2 Dec 2008, on condition that the offer is settled. There are still outstanding regulatory approvals from the competition authorities required before BASF can take full control of Ciba, but these are expected to come through in time to close the transaction in 1Q 2009. Ciba Full Year Results 2008, 10 Feb 2009, 5 (Ciba Inc, Klybeckstrasse 41, CH-4002 Basel, Switzerland, tel: +41 61 636 1111, fax: +41 61 636 2222, website: http://www.cibasc.com)
BASF sees more woes BASF anticipates that economic conditions will remain tough and volatile, and that the business environment will continue to be challenging. The German chemical firm saw a sharp decline in its global business in Dec 2008. Demand for chemical products remained soft in the first half of Jan 2009 as customers continued to eke out stocks. BASF is currently operating at below 75% capacity utilization rate, on average. It is implementing a ‘short-time working’ scheme for roughly 1700 employees at its two facilities in Germany. Under the scheme, loss of earnings is partly offset by government benefits. Similar initiatives are being considered at the company’s large sites in Ludwigshafen, Germany and Antwerp, Belgium. BASF has also taken its 1,4butanediol and tetrahydrofuran 6
O N
POWDER
plants at Ulsan, South Korea off line, as well as an automobile coatings unit at Belvidere, NJ, USA. The measures affected a total of 200 jobs. Chemical and Engineering News, 26 Jan 2009, 20 (Website: http://www.cen-online.org)
BASF expands coatings business in ASEAN BASF has strengthened its coatings operations in the ASEAN (The Association of Southeast Asian Nations) region, with Thailand as its hub. BASF (Thai) Ltd has agreed to make Eason Paint Plc (Thailand) the manufacturing base for BASF customers across ASEAN. Eason Paint will exclusively handle production of BASF motorcycle coatings in Thailand. The ASEAN coatings market, valued at €2.8 bn, makes up about 15% of the Asia-Pacific coatings market. Coatings World, Jan 2009, 14 (1), 18
BASF takes steps to optimise its structures BASF is taking steps to optimize its structures and efficiently integrate Ciba’s businesses. The initial organizational changes will be effective as of 1 Apr 2009. The Performance Products segment currently consists of the Acrylics & Dispersions, Care Chemicals and Performance Chemicals divisions. As of 1 Apr 2009, the new division Paper Chemicals will also form part of the segment. This division will initially consist of BASF’s business with paper chemicals business, binders and kaolin minerals, which is currently part of the Acrylics & Dispersions division. The current Acrylics & Dispersions division will be renamed Dispersions & Pigments. This division will bundle BASF’s business with raw materials for the coating and paint industry. As a result, the existing dispersions business will be complemented by the pigments and coatings resins business that is currently part of the Performance Chemicals
C OAT I N G S division. The acrylics business will be reassigned to the Petrochemicals division, which will then encompass the key steps in the propylene value chain. The superabsorbents business will be assigned to the Care Chemicals division. The majority of Ciba’s Coating Effects business will be integrated into the Dispersions & Pigments division. In the Care Chemicals division, BASF is now combining all businesses that contribute to cleaning, personal care and hygiene in addition to human and animal nutrition as well as pharma. The leather and textile chemicals business also forms part of the activities of the current Performance Chemicals division. For several years, this business has been characterized by low market growth and high competitive pressure, and has introduced an additional program to increase efficiency, which is expected to reduce costs by €25 M by 2011. In addition to implementing this cost-reduction program, BASF is reviewing future strategic options. A graphic illustrates the new structure of BASF’s segments and divisions, from 1 Apr 2009. Press release from: BASF SE, D-67056 Ludwigshafen, Germany, tel: +49 (0) 621 600, website: http://www.basf.com (4 Feb 2009)
DuPont Pipeline Success DuPont Coating Solutions has been chosen for a pipeline system in the USA. Borusan Mannesmann, the largest steel pipe manufacturer in Turkey, selected NapGard functional products for an external anticorrosive powder coating application. It will be used on a 312 km steel pipeline for conveying natural gas to Georgia, USA. It is Borusan’s biggest project to date. PPCJ, Polymers, Paint, Colour Journal, Jan 2009, 199 (4532), 43
Chemical industry cuts more jobs Speciality and coatings maker Rohm and Haas will layoff an MARCH 2009