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In 2005 Russkie kraski marketed 55,400 tonnes of paints
F O C U S
INDUSTRY NEWS DuPont to cut jobs; raises earnings estimates DuPont’s restructuring plan will involve eliminating 1500 posts, equivalent to around 15% of the company’s performance coatings staff, and shutting down related facilities and labs. The plan, to be enforced within the next 18 months, seeks to boost DuPont’s profitability and competitiveness. The $165 M ($.13/share) reduction in annualised costs in the performance coatings business will commence in 2006 with a $70 M reduction followed by an estimated $100 M in 2007. The business caters to the automotive sector. The OEM business will be most affected by the workforce reduction. The majority of the cuts and shutdowns will be in Europe. Coatings facilities will be closed at Breda, the Netherlands, and Rubi and Polinya, Spain. The Hellac Laboratory located at Helmstedt in Germany will also be shut down. A further 200 more jobs will be eliminated at the company’s coatings lab in Troy, MI, which will be integrated into the Mt Clemens, MI plant. Meanwhile, DuPont’s 1Q 2006 and full year 2006 earnings forecasts were raised owing to favourable operating performance and better costs control. Approximately 80 cts/share is expected in 1Q 2006 earnings, before significant items. This compares to the initial 24 Jan 2006 projection of 70 cts/share. Full year projections were also increased to $2.70/share from $2.60/share, before significant items. Chemical Week, 22 Mar 2006, (Website: http://www.chemweek.com)
Reichhold forges alliances in Europe Reichhold Inc has formed manufacturing partnerships with APRIL 2006
ON
POWDER
Spolchemie of the Czech Republic and Prosim of Turkey. The US company’s long-term deal with Spolchemie involves the manufacture of unsaturated polyester resins and gel-coats for the European composite customers of Reichhold. Spolchemie in Usti nad Labem built a new plant in the Czech Republic to cater to the Eastern and Western European customers of Reichhold. Reichhold Turkey, which evolved from Prosim’s alliance with Reichhold, is tasked to market composites and powder coating resins in Turkey. A manufacturing deal was signed by Reichhold with Ege Kimya to produce Reichhold products. Reinforced Plastics (London), Mar 2006, 50 (3), 13
Tailor your PowderPreg Powder Coating Composites Ltd (PCC) uses the Powder Impregnation (PowderPreg) process to enable customisation of prepregs. Different resins may be used on each side of the hybrid prepregs. The process may be applied in an array of reinforcements, substrates, thermoplastic and thermoset resins. The company is using Enhanced Flow Electro Static Powder Deposition to try and cut the cost of the technology. PCC is also seeking to increase the powder diameter from 250 microns to 500 microns. Reinforced Plastics (London), Mar 2006, 50 (3), 18
Geon name back in business PolyOne Corp, a worldwide plastics compounder and distributor in North America, has separated its PVC business, Geon Specialty Resins, into an independent group. The business was previously put on sale but PolyOne opted to keep it afterwards, as there were no suitable offers. Geon Specialty Resins have manufacturing facilities in Henry, IL and Pericktown, NJ. Its product line
C O AT I N G S includes dispersion, powder coating, blending, and specialized suspension PVC. Modern Plastics Worldwide, Mar 2006, 83 (3), 11
In 2005 Russkie kraski marketed 55,400 tonnes of paints OAO Russkie kraski has merged TD Russkie kraski, Yaroslavskie kraski and Yaroslavskii powder paints plants. Russkie kraski produced 37,900 tonnes of paints for motorcar assembly line and powder paints for industrial and construction purposes. Yaroslavskie kraski produced 27,000 tonnes of paints and had Roubles 1.4 bn receipts. Yaroslavskii plant by Dec 2005 produced 60 tonnes/mo of powder paints and total annual output was 400 tonnes. In 2006 the plant is planning to produce 1000 tonnes of powder paints. Vestnik khimicheskoi promyshlennosty, 2 Mar 2006, 2006 (1), 54-55 (in Russian)
Hostile bid worth $5 bn: BASF to take over Engelhard? BASF launched a hostile bid for Engelhard on 3 Jan 2006. BASF offered to pay Engelhard shareholders a cash price of $37 per share, 23% more than the traded price on the New York Stock Exchange on 20 Dec 2005. The offer values Engelhard at $4.8 bn. BASF is the world’s largest chemical company, with annual sales revenue in excess of $50 bn. The company has five major operating segments: Plastics (contributing 27% of total sales revenue); Chemicals (19%); Performance Products (18%); Oil & Gas (18%); and Agriculture & Nutrition (12%). BASF is one of the world’s top four organic pigment producers, and the leading global supplier of colorants for the leather and paper industries, as well as catering for customers in the sunscreen and cosmetics industries. In addition, BASF is one of the world’s top three manufacturers of automotive 5
INDUSTRY NEWS DuPont to cut jobs; raises earnings estimates DuPont’s restructuring plan will involve eliminating 1500 posts, equivalent to around 15% of the company’s performance coatings staff, and shutting down related facilities and labs. The plan, to be enforced within the next 18 months, seeks to boost DuPont’s profitability and competitiveness. The $165 M ($.13/share) reduction in annualised costs in the performance coatings business will commence in 2006 with a $70 M reduction followed by an estimated $100 M in 2007. The business caters to the automotive sector. The OEM business will be most affected by the workforce reduction. The majority of the cuts and shutdowns will be in Europe. Coatings facilities will be closed at Breda, the Netherlands, and Rubi and Polinya, Spain. The Hellac Laboratory located at Helmstedt in Germany will also be shut down. A further 200 more jobs will be eliminated at the company’s coatings lab in Troy, MI, which will be integrated into the Mt Clemens, MI plant. Meanwhile, DuPont’s 1Q 2006 and full year 2006 earnings forecasts were raised owing to favourable operating performance and better costs control. Approximately 80 cts/share is expected in 1Q 2006 earnings, before significant items. This compares to the initial 24 Jan 2006 projection of 70 cts/share. Full year projections were also increased to $2.70/share from $2.60/share, before significant items. Chemical Week, 22 Mar 2006, (Website: http://www.chemweek.com)
Reichhold forges alliances in Europe Reichhold Inc has formed manufacturing partnerships with APRIL 2006
ON
POWDER
Spolchemie of the Czech Republic and Prosim of Turkey. The US company’s long-term deal with Spolchemie involves the manufacture of unsaturated polyester resins and gel-coats for the European composite customers of Reichhold. Spolchemie in Usti nad Labem built a new plant in the Czech Republic to cater to the Eastern and Western European customers of Reichhold. Reichhold Turkey, which evolved from Prosim’s alliance with Reichhold, is tasked to market composites and powder coating resins in Turkey. A manufacturing deal was signed by Reichhold with Ege Kimya to produce Reichhold products. Reinforced Plastics (London), Mar 2006, 50 (3), 13
Tailor your PowderPreg Powder Coating Composites Ltd (PCC) uses the Powder Impregnation (PowderPreg) process to enable customisation of prepregs. Different resins may be used on each side of the hybrid prepregs. The process may be applied in an array of reinforcements, substrates, thermoplastic and thermoset resins. The company is using Enhanced Flow Electro Static Powder Deposition to try and cut the cost of the technology. PCC is also seeking to increase the powder diameter from 250 microns to 500 microns. Reinforced Plastics (London), Mar 2006, 50 (3), 18
Geon name back in business PolyOne Corp, a worldwide plastics compounder and distributor in North America, has separated its PVC business, Geon Specialty Resins, into an independent group. The business was previously put on sale but PolyOne opted to keep it afterwards, as there were no suitable offers. Geon Specialty Resins have manufacturing facilities in Henry, IL and Pericktown, NJ. Its product line
C O AT I N G S includes dispersion, powder coating, blending, and specialized suspension PVC. Modern Plastics Worldwide, Mar 2006, 83 (3), 11
In 2005 Russkie kraski marketed 55,400 tonnes of paints OAO Russkie kraski has merged TD Russkie kraski, Yaroslavskie kraski and Yaroslavskii powder paints plants. Russkie kraski produced 37,900 tonnes of paints for motorcar assembly line and powder paints for industrial and construction purposes. Yaroslavskie kraski produced 27,000 tonnes of paints and had Roubles 1.4 bn receipts. Yaroslavskii plant by Dec 2005 produced 60 tonnes/mo of powder paints and total annual output was 400 tonnes. In 2006 the plant is planning to produce 1000 tonnes of powder paints. Vestnik khimicheskoi promyshlennosty, 2 Mar 2006, 2006 (1), 54-55 (in Russian)
Hostile bid worth $5 bn: BASF to take over Engelhard? BASF launched a hostile bid for Engelhard on 3 Jan 2006. BASF offered to pay Engelhard shareholders a cash price of $37 per share, 23% more than the traded price on the New York Stock Exchange on 20 Dec 2005. The offer values Engelhard at $4.8 bn. BASF is the world’s largest chemical company, with annual sales revenue in excess of $50 bn. The company has five major operating segments: Plastics (contributing 27% of total sales revenue); Chemicals (19%); Performance Products (18%); Oil & Gas (18%); and Agriculture & Nutrition (12%). BASF is one of the world’s top four organic pigment producers, and the leading global supplier of colorants for the leather and paper industries, as well as catering for customers in the sunscreen and cosmetics industries. In addition, BASF is one of the world’s top three manufacturers of automotive 5