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PolyOne posts record 4Q and full-year 2012 results
ENVIRONMENT, HEALTH & SAFETY
favourable product mix and lower raw material costs, Cytec says. For the full year, Additive Technologies achieved sales of $270.4 million in 2012, a decline of 6% from $287.5 million a year earlier. Selling prices rose 3% year on year but volumes were down 7% and exchange rate effects further decreased sales by 2%. Operating earnings declined 4% to $37.9 million in 2012 from $39.4 million the previous year. Looking ahead, Fleming expects 2013 to be a year of ‘continued growth across our portfolio of businesses’ despite the modest growth outlook for the global economy in 2013. Growth in Additive Technologies of about 3–4% is anticipated with a sales range estimate of $275 million to $285 million as the business still faces macroeconomic headwinds in certain markets but has the ability to grow in the differentiated product lines, he says. ‘I remain optimistic about Cytec’s growth potential given our new company profile and the opportunities in our composites and specialty chemicals businesses. We remain focused on executing our strategic initiatives to deliver growth and create value for our shareholders’, Fleming concludes. Contact: Cytec Industries Inc, Woodland Park, NJ, USA. Tel: +1 973 357 3100, Web: www.cytec.com
PolyOne posts record 4Q and full-year 2012 results
O
hio-based PolyOne Corp reported revenues of US$679.4 million for the fourth quarter of 2012, a 6% increase compared to $640.4 million in the fourth quarter of 2011. Full-year revenues for 2012 increased 4.5% to $3.0 billion, compared to $2.9 billion the previous year. The company achieved record operating margins and operating profits in all three strategic platforms. The fourth quarter of 2012 marks the company’s thirteenth consecutive quarter of year-over-year double-digit adjusted earnings per share (EPS) growth, says Stephen D. Newlin, chairman, president and CEO. Adjusted EPS expanded 17% year on year to a record figure of $0.21 in 4Q 2012, he reports. The fourth quarter caps another strong year of performance by PolyOne, Newlin continues. ‘For the full year, each of our three strategic platforms achieved record levels of operating income and operating margins, despite recessionary conditions in Europe.’ In 2012, the company achieved the
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Additives for Polymers
successful integration of ColorMatrix following its acquisition in late 2011 [ADPO, February 2012], as well as agreeing to purchase Spartech [ibid., December 2012] and completing the acquisition of Glasforms, he notes. The Global Color, Additives and Inks segment posted sales of $155.9 million in 4Q 2012, compared to $119.8 million a year earlier, a 30% increase. Growth was similar for the year as a whole, from $544.6 million in 2011 to $703.5 million last year. Operating income also expanded significantly year on year, by 25% to $10.9 million in the fourth quarter and by 54% to $66.8 million for the 12-month period. For 2013, PolyOne does not view recovery in Europe as imminent, but does see potential for some improvement in the second half of the year, Newlin comments. The company continues to target double-digit expansion of adjusted EPS. ‘Regardless of the economic environment, we are intensely focused on driving profitable organic revenue and EPS growth through new technology launches, application development and cross-selling. In addition, we are confident in our ability to efficiently integrate Glasforms and Spartech, resulting in speciality growth for PolyOne and increased value for our customers and shareholders’, he says. Contact: PolyOne Corp, Avon Lake, OH, USA. Tel: +1 440 930 1000, Web: www.polyone.com
ENVIRONMENT, HEALTH AND SAFETY ISSUES Europe considers total ban on cadmium in plastics
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he European Commission is considering expanding its restriction on cadmium and its compounds in plastics from the current 16 materials listed in Annex XVII of REACH to all plastic materials. It has asked the Helsinki-based European Chemicals Agency (ECHA) to examine the case for an outright ban. The 16 resins covered by existing restrictions on the use of cadmium as a colorant include polyvinyl chloride (PVC), polyurethane (PUR), low density polyethylene (LDPE), polyethylene terephthalate (PET), polystyrene
March 2013
favourable product mix and lower raw material costs, Cytec says. For the full year, Additive Technologies achieved sales of $270.4 million in 2012, a decline of 6% from $287.5 million a year earlier. Selling prices rose 3% year on year but volumes were down 7% and exchange rate effects further decreased sales by 2%. Operating earnings declined 4% to $37.9 million in 2012 from $39.4 million the previous year. Looking ahead, Fleming expects 2013 to be a year of ‘continued growth across our portfolio of businesses’ despite the modest growth outlook for the global economy in 2013. Growth in Additive Technologies of about 3–4% is anticipated with a sales range estimate of $275 million to $285 million as the business still faces macroeconomic headwinds in certain markets but has the ability to grow in the differentiated product lines, he says. ‘I remain optimistic about Cytec’s growth potential given our new company profile and the opportunities in our composites and specialty chemicals businesses. We remain focused on executing our strategic initiatives to deliver growth and create value for our shareholders’, Fleming concludes. Contact: Cytec Industries Inc, Woodland Park, NJ, USA. Tel: +1 973 357 3100, Web: www.cytec.com
PolyOne posts record 4Q and full-year 2012 results
O
hio-based PolyOne Corp reported revenues of US$679.4 million for the fourth quarter of 2012, a 6% increase compared to $640.4 million in the fourth quarter of 2011. Full-year revenues for 2012 increased 4.5% to $3.0 billion, compared to $2.9 billion the previous year. The company achieved record operating margins and operating profits in all three strategic platforms. The fourth quarter of 2012 marks the company’s thirteenth consecutive quarter of year-over-year double-digit adjusted earnings per share (EPS) growth, says Stephen D. Newlin, chairman, president and CEO. Adjusted EPS expanded 17% year on year to a record figure of $0.21 in 4Q 2012, he reports. The fourth quarter caps another strong year of performance by PolyOne, Newlin continues. ‘For the full year, each of our three strategic platforms achieved record levels of operating income and operating margins, despite recessionary conditions in Europe.’ In 2012, the company achieved the
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Additives for Polymers
successful integration of ColorMatrix following its acquisition in late 2011 [ADPO, February 2012], as well as agreeing to purchase Spartech [ibid., December 2012] and completing the acquisition of Glasforms, he notes. The Global Color, Additives and Inks segment posted sales of $155.9 million in 4Q 2012, compared to $119.8 million a year earlier, a 30% increase. Growth was similar for the year as a whole, from $544.6 million in 2011 to $703.5 million last year. Operating income also expanded significantly year on year, by 25% to $10.9 million in the fourth quarter and by 54% to $66.8 million for the 12-month period. For 2013, PolyOne does not view recovery in Europe as imminent, but does see potential for some improvement in the second half of the year, Newlin comments. The company continues to target double-digit expansion of adjusted EPS. ‘Regardless of the economic environment, we are intensely focused on driving profitable organic revenue and EPS growth through new technology launches, application development and cross-selling. In addition, we are confident in our ability to efficiently integrate Glasforms and Spartech, resulting in speciality growth for PolyOne and increased value for our customers and shareholders’, he says. Contact: PolyOne Corp, Avon Lake, OH, USA. Tel: +1 440 930 1000, Web: www.polyone.com
ENVIRONMENT, HEALTH AND SAFETY ISSUES Europe considers total ban on cadmium in plastics
T
he European Commission is considering expanding its restriction on cadmium and its compounds in plastics from the current 16 materials listed in Annex XVII of REACH to all plastic materials. It has asked the Helsinki-based European Chemicals Agency (ECHA) to examine the case for an outright ban. The 16 resins covered by existing restrictions on the use of cadmium as a colorant include polyvinyl chloride (PVC), polyurethane (PUR), low density polyethylene (LDPE), polyethylene terephthalate (PET), polystyrene
March 2013