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ColorMatrix launches new brand identity
FINANCIALS
ColorMatrix launches new brand identity
C
olorant, additive and dosing specialist ColorMatrix has announced the launch of a new brand identity. The move comes as part of a series of strategic initiatives, undertaken with the primary goal of positioning the company as a single, global organization with an international presence. ColorMatrix says the new brand identity reinforces its status as ‘the leading global innovator of plastic liquid colorant and additive technologies’ as well as demonstrating its commitment to delivering a clear and consistent offering to customers, whatever their location. The company’s tiger face logo is retained but given ‘a fresh, modern feel’, while a bright red–orange gradation is used in place of a colour spectrum. According to chief operating officer Celio Andrino, the new positioning encapsulates the core values of ColorMatrix: ‘We are a truly global organization, focused on working with our customers to create innovative, high quality and socially responsible solutions that offer clear differentiation and rapid market access’, he says. ColorMatrix’s refreshed identity was rolled out in July 2010 and coincided with the launch of a new company website.
Contact: ColorMatrix, Berea, OH, USA. Tel: +1 216 622 0100, Web: www.colormatrix.com Or contact: ColorMatrix Europe, Knowsley, Merseyside, UK. Tel: +44 151 632 8800, Web: www.colormatrix.com
FINANCIALS Cytec reports 28% increase in second-quarter sales
F
or the second quarter of 2010, Cytec Industries Inc of Woodland Park, NJ, USA, posted net earnings of US$61.8 million on net sales of $874 million. Included in the quarter is a special item charge of $3.1 million of net expense after-tax; excluding this special item, net earnings were $64.8 million.
8
Additives for Polymers
For the comparable period in 2009, the company reported a net loss of $24.8 million on net sales of $685 million. Included in that quarter were several special items totalling $24.2 million of net expense after-tax. If these special items are excluded, the net loss was $0.6 million. CEO Shane Fleming comments that the second quarter results mark a record earnings performance for Cytec, which was partially driven by year-over-year sales growth across all Cytec’s business segments due to a much improved economic environment. Previously the company’s best earnings performance was 2Q 2008, and that level has been exceeded this year with 13% lower sales, due to the benefits of the 2009 cost reduction actions, improved product mix from the sales of new products and pruning of low margin products, as well as Cytec’s ability to recover the raw material cost escalations during the quarter, Fleming says. Sales increased across all regions compared to 2Q 2009, especially in North America where Cytec experienced a greater than 40% increase in sales. For the six months to the end of June 2010, net earnings were $86.6 million on sales of $1.661 billion, compared to a net loss of $24.9 million on sales of $1.297 billion in 2Q 2009. In Additive Technologies, quarterly sales increased 5% to $66 million compared to the previous year. Overall selling volumes were up by 4% versus 2Q 2009, attributed to stronger demand broadly across most industrial markets, partially offset by reduced sales due to the divestiture of certain low value products. Excluding these divested sales, segment sales were up 20% year on year. Selling prices increased by 2% and the impact of exchange rates decreased sales by 1%. Operating earnings for the segment increased more than threefold to $10.7 million in 2Q 2010, from $3.1 million in 2Q 2009, mainly as a result of higher selling volumes and better product mix. For the year as a whole, Cytec expects sales growth in Additives Technologies to remain strong as a result of improved demand for industrial surfactants as well as UV stabilizers, with especially strong demand in North America and Asia. Annual sales for the segment are now projected to be in a range of $240 to $250 million, up from previous estimates of $200 to $230 million. Operating earnings are now projected to be between $35 and $40 million, up from the previous forecast of $15 to $20 million for this segment and up from the 2009 operating earnings of $11 million. Contact: Cytec Industries Inc, Woodland Park, NJ, USA. Tel: +1 973 357 3100, Web: www.cytec.com
September 2010
ColorMatrix launches new brand identity
C
olorant, additive and dosing specialist ColorMatrix has announced the launch of a new brand identity. The move comes as part of a series of strategic initiatives, undertaken with the primary goal of positioning the company as a single, global organization with an international presence. ColorMatrix says the new brand identity reinforces its status as ‘the leading global innovator of plastic liquid colorant and additive technologies’ as well as demonstrating its commitment to delivering a clear and consistent offering to customers, whatever their location. The company’s tiger face logo is retained but given ‘a fresh, modern feel’, while a bright red–orange gradation is used in place of a colour spectrum. According to chief operating officer Celio Andrino, the new positioning encapsulates the core values of ColorMatrix: ‘We are a truly global organization, focused on working with our customers to create innovative, high quality and socially responsible solutions that offer clear differentiation and rapid market access’, he says. ColorMatrix’s refreshed identity was rolled out in July 2010 and coincided with the launch of a new company website.
Contact: ColorMatrix, Berea, OH, USA. Tel: +1 216 622 0100, Web: www.colormatrix.com Or contact: ColorMatrix Europe, Knowsley, Merseyside, UK. Tel: +44 151 632 8800, Web: www.colormatrix.com
FINANCIALS Cytec reports 28% increase in second-quarter sales
F
or the second quarter of 2010, Cytec Industries Inc of Woodland Park, NJ, USA, posted net earnings of US$61.8 million on net sales of $874 million. Included in the quarter is a special item charge of $3.1 million of net expense after-tax; excluding this special item, net earnings were $64.8 million.
8
Additives for Polymers
For the comparable period in 2009, the company reported a net loss of $24.8 million on net sales of $685 million. Included in that quarter were several special items totalling $24.2 million of net expense after-tax. If these special items are excluded, the net loss was $0.6 million. CEO Shane Fleming comments that the second quarter results mark a record earnings performance for Cytec, which was partially driven by year-over-year sales growth across all Cytec’s business segments due to a much improved economic environment. Previously the company’s best earnings performance was 2Q 2008, and that level has been exceeded this year with 13% lower sales, due to the benefits of the 2009 cost reduction actions, improved product mix from the sales of new products and pruning of low margin products, as well as Cytec’s ability to recover the raw material cost escalations during the quarter, Fleming says. Sales increased across all regions compared to 2Q 2009, especially in North America where Cytec experienced a greater than 40% increase in sales. For the six months to the end of June 2010, net earnings were $86.6 million on sales of $1.661 billion, compared to a net loss of $24.9 million on sales of $1.297 billion in 2Q 2009. In Additive Technologies, quarterly sales increased 5% to $66 million compared to the previous year. Overall selling volumes were up by 4% versus 2Q 2009, attributed to stronger demand broadly across most industrial markets, partially offset by reduced sales due to the divestiture of certain low value products. Excluding these divested sales, segment sales were up 20% year on year. Selling prices increased by 2% and the impact of exchange rates decreased sales by 1%. Operating earnings for the segment increased more than threefold to $10.7 million in 2Q 2010, from $3.1 million in 2Q 2009, mainly as a result of higher selling volumes and better product mix. For the year as a whole, Cytec expects sales growth in Additives Technologies to remain strong as a result of improved demand for industrial surfactants as well as UV stabilizers, with especially strong demand in North America and Asia. Annual sales for the segment are now projected to be in a range of $240 to $250 million, up from previous estimates of $200 to $230 million. Operating earnings are now projected to be between $35 and $40 million, up from the previous forecast of $15 to $20 million for this segment and up from the 2009 operating earnings of $11 million. Contact: Cytec Industries Inc, Woodland Park, NJ, USA. Tel: +1 973 357 3100, Web: www.cytec.com
September 2010