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Metokote expands Mexico base once again
F O C U S segments. Some segments, such as electronics, and emerging economies such as China, Central and Eastern Europe and Southeast Asia, are predicted to be the first to make a recovery. ICIS Chemical Business, 17 Nov 2008, (Website: http://icischemicalbusiness.com)
Jotun targets Asia and Middle East as it prepares for setbacks in other regions
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at Hoskote near Bangalore at an investment of Rup 500 M by 2010. The unit will service the Asia Pacific region. The present industrial coatings manufacturing capacity of the company is 3 M lt/y. Business Line, 20 Nov 2008, 15 (321), 2
AkzoNobel opens Elotex site in Shanghai
Dutch firm AkzoNobel will eliminate 3500 jobs by 2011 as part of the integration of British chemicals group ICI into AkzoNobel. The integration is happening when AkzoNobel is launching an aggressive cost reduction drive that is expected to result in savings of €100 M/y, in addition to the €340 M that will be generated from the ICI synergies. Meanwhile, AkzoNobel predicts 2008 EBITDA earnings before incidentals to reach €1870 M. It has also set its 2011 EBITDA earnings margin target at 14%.
AkzoNobel’s Functional Chemicals division recently opened a new production site in Shanghai, China, for its Elotex business (which makes polymer-based additives for construction materials). The new unit has 20,000-tonnes/y dispersible powders capacity. These powders are used in insulation systems, waterproofing, floors and tiling. The installation is the fifth unit of its type worldwide (the others being in the Netherlands, Switzerland, Germany and the US). It will serve China and Pacific Asia. Pacific Asia accounted for 20% of AkzoNobel’s €14.4 bn turnover in 2007. In another development AkzoNobel recently laid the foundation for a new coatings production unit in Hoskote, India. The unit was built on an existing unit belonging to the group and which makes protective coatings (mainly for the shipping industry). The new unit will increase AkzoNobel’s steel and aluminium coatings capacity. The first phase of the project should be finalized at start 2010. AkzoNobel is aiming for a significant increase in its turnover in India (currently €200 M). The group has 1500 employees in the country as well as 6 production sites, 2 research centres and a dozen sales offices.
European Paint and Resin News, Oct 2008, 46 (10), 9
Chimie Pharma Hebdo, 18 Nov 2008, (444), 11 (in French)
Akzo Nobel unit setting up plant near Bangalore
Metokote expands Mexico base once again
Akzo Nobel Group is setting up a 5.5 M lt/y industrial coatings unit
Metokote Corp, based in Lima, OH, USA, has again expanded its
Norwegian paint maker Jotun will maintain its strategy of investing in South East Asia and the Middle East and brace itself against difficulties in other regions amid the worsening global economic crisis. The firm saw its Jan-Aug 2008 pre-tax operating profit increase by 15% to NKR 792 M (€88 M) from NKR 687 M during the same year-ago period. Sales were particularly robust in China, Saudi Arabia, Vietnam and Indonesia. Meanwhile, Jotun will bring online a new factory in South Korea by 1H 2009. European Paint and Resin News, Oct 2008, 46 (10), 3
3500 jobs to go from AkzoNobel as ICI integration starts
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C OAT I N G S Mexican operations with the establishment of a painting facility in San Luis Potosi. The site produces electrocoatings and powder coatings as well as providing liquid coatings services. It is the company’s third standalone facility; the two others are located in Monterrey and Saltillo. The San Luis Potosi plant can produce 50 M sq ft/y of coatings. Coatings World, Oct 2008, 13 (10), 18
Rohm and Haas reports 3Q 2008 results: Business and regional performance: Performance Materials Group For its 3Q 2008 (period ends 30 Sep 2008), the Performance Materials group of Rohm and Haas Co has reported sales of $322 M ($296 M for its 3Q 2007), pre-tax earnings from continuing operations of $41 M ($33 M), and EBITDA of $58 M ($56 M). For the first nine-months of its fiscal 2008, this product group has reported sales of $964 M ($882 M for the same period of its fiscal 2007), pre-tax earnings from continuing operations of $105 M ($875 M), and EBITDA of $159 M ($145 M). Sales were up 9% over the same period last year. The impact of favourable currencies, increased demand in Rapidly Developing Economies, and higher selling prices more than offset weakness in North America. Process Chemicals and Biocides sales were up 14% over the same period last year, reflecting favourable currencies, strong demand in Rapidly Developing Economies and higher selling prices. Powder Coatings sales were up 7% compared to the comparable period in 2007, driven by favourable currencies and higher selling prices partially offset by decreased demand. Adjusted pre-tax earnings were down 2% versus the prior-year period. Increased demand, particularly in Process Chemicals and Biocides, higher selling prices, and favourable currencies JANUARY 2009
Jotun targets Asia and Middle East as it prepares for setbacks in other regions
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POWDER
at Hoskote near Bangalore at an investment of Rup 500 M by 2010. The unit will service the Asia Pacific region. The present industrial coatings manufacturing capacity of the company is 3 M lt/y. Business Line, 20 Nov 2008, 15 (321), 2
AkzoNobel opens Elotex site in Shanghai
Dutch firm AkzoNobel will eliminate 3500 jobs by 2011 as part of the integration of British chemicals group ICI into AkzoNobel. The integration is happening when AkzoNobel is launching an aggressive cost reduction drive that is expected to result in savings of €100 M/y, in addition to the €340 M that will be generated from the ICI synergies. Meanwhile, AkzoNobel predicts 2008 EBITDA earnings before incidentals to reach €1870 M. It has also set its 2011 EBITDA earnings margin target at 14%.
AkzoNobel’s Functional Chemicals division recently opened a new production site in Shanghai, China, for its Elotex business (which makes polymer-based additives for construction materials). The new unit has 20,000-tonnes/y dispersible powders capacity. These powders are used in insulation systems, waterproofing, floors and tiling. The installation is the fifth unit of its type worldwide (the others being in the Netherlands, Switzerland, Germany and the US). It will serve China and Pacific Asia. Pacific Asia accounted for 20% of AkzoNobel’s €14.4 bn turnover in 2007. In another development AkzoNobel recently laid the foundation for a new coatings production unit in Hoskote, India. The unit was built on an existing unit belonging to the group and which makes protective coatings (mainly for the shipping industry). The new unit will increase AkzoNobel’s steel and aluminium coatings capacity. The first phase of the project should be finalized at start 2010. AkzoNobel is aiming for a significant increase in its turnover in India (currently €200 M). The group has 1500 employees in the country as well as 6 production sites, 2 research centres and a dozen sales offices.
European Paint and Resin News, Oct 2008, 46 (10), 9
Chimie Pharma Hebdo, 18 Nov 2008, (444), 11 (in French)
Akzo Nobel unit setting up plant near Bangalore
Metokote expands Mexico base once again
Akzo Nobel Group is setting up a 5.5 M lt/y industrial coatings unit
Metokote Corp, based in Lima, OH, USA, has again expanded its
Norwegian paint maker Jotun will maintain its strategy of investing in South East Asia and the Middle East and brace itself against difficulties in other regions amid the worsening global economic crisis. The firm saw its Jan-Aug 2008 pre-tax operating profit increase by 15% to NKR 792 M (€88 M) from NKR 687 M during the same year-ago period. Sales were particularly robust in China, Saudi Arabia, Vietnam and Indonesia. Meanwhile, Jotun will bring online a new factory in South Korea by 1H 2009. European Paint and Resin News, Oct 2008, 46 (10), 3
3500 jobs to go from AkzoNobel as ICI integration starts
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C OAT I N G S Mexican operations with the establishment of a painting facility in San Luis Potosi. The site produces electrocoatings and powder coatings as well as providing liquid coatings services. It is the company’s third standalone facility; the two others are located in Monterrey and Saltillo. The San Luis Potosi plant can produce 50 M sq ft/y of coatings. Coatings World, Oct 2008, 13 (10), 18
Rohm and Haas reports 3Q 2008 results: Business and regional performance: Performance Materials Group For its 3Q 2008 (period ends 30 Sep 2008), the Performance Materials group of Rohm and Haas Co has reported sales of $322 M ($296 M for its 3Q 2007), pre-tax earnings from continuing operations of $41 M ($33 M), and EBITDA of $58 M ($56 M). For the first nine-months of its fiscal 2008, this product group has reported sales of $964 M ($882 M for the same period of its fiscal 2007), pre-tax earnings from continuing operations of $105 M ($875 M), and EBITDA of $159 M ($145 M). Sales were up 9% over the same period last year. The impact of favourable currencies, increased demand in Rapidly Developing Economies, and higher selling prices more than offset weakness in North America. Process Chemicals and Biocides sales were up 14% over the same period last year, reflecting favourable currencies, strong demand in Rapidly Developing Economies and higher selling prices. Powder Coatings sales were up 7% compared to the comparable period in 2007, driven by favourable currencies and higher selling prices partially offset by decreased demand. Adjusted pre-tax earnings were down 2% versus the prior-year period. Increased demand, particularly in Process Chemicals and Biocides, higher selling prices, and favourable currencies JANUARY 2009