Hello and welcome to your early week international coatings industry update, brought to you by SpecialChem. So another holiday has passed here in the USA, but the industry sure didn't take a breather. Any where. So let's get straight to a much-needed update.
Eastman Chemical Company announced the completion of its acquisition of Solutia Inc. The acquisition is valued at approximately $4.8 billion and supports Eastman's growth strategy to increase revenues and profit margins by expanding the company's geographic reach, especially in emerging markets, and establishing a more diverse and sustainable product portfolio. Eastman expects the acquisition to be immediately accretive to earnings, excluding acquisition-related costs and charges.
With the acquisition of Solutia, Eastman has made structural and reporting changes resulting in five reporting segments: Additives and Functional Products, Adhesives and Plasticizers, Advanced Materials, Fibers, and Specialty Fluids and Intermediates. This structure takes into consideration the strategies, operating models, and sales channels that the various businesses employ to be leaders in their respective markets. Our major concern, Additives and Functional Products, consists of the rubber materials product lines from Solutia's former Technical Specialties segment and the specialty polymers and solvents product lines of Eastman's former Coatings, Adhesives, Specialty Polymers and Inks (CASPI) segment.
In another poke in the eye to the epoxy market in China, The Ministry of Commerce of China released Announcement No.32 on June 27, deciding to continue to impose anti-dumping measures on imports of epichlorohydrin from the US, Korea, Japan and Russia for another five years from June 28, 2012. According to the document, the dumping and injury would continue if they would terminate anti-dumping measures on imports of epichlorohydrin from the above-mentioned countries. Approved by the Customs Tariff Commission of the State Council, MOFCOM decided to continue to impose anti-dumping duty on such imports from June 28, 2012, with the same scope and rates in MOFCOM Announcement No.44 of 2006.
Historically, MOFCOM released an announcement on June 28, 2006 to impose anti-dumping duty on imports of epichlorohydrin originated from the US, Korea, Japan and Russia, with a term of five years from June 28, 2006. On June 27, 2011, MOFCOM released an announcement that it would start a sunset review on the anti-dumping measures imposed on imports, apparently without positive result.
Recently, BASF's Coatings group inaugurated its Paint Application Center and an extension of its Development Laboratory at the production site in Tultitlán, Mexico. It aims to strengthen the technical support for the automotive industry and to develop sustainable and customized coating materials and technologies. The new facility will support activities including technical service for basecoats, pigments and dispersions as well as the introduction of new colors.
Juan Carlos Ordoñez, Senior VP of Coatings for North America emphasized: "The establishment of the facility is an important step to further strengthen our international technical network and the capability to support the business of our customers in North America. We also improve our ability to properly serve our customers in the growing automotive industry in Mexico."
Huntsman Corporation has acquired the remaining ownership of its Russian joint venture, Huntsman NMG. The acquisition gives Huntsman full ownership of the company, which is a supplier to the adhesives, coatings and footwear markets in Russia, Ukraine and Belarus. The terms of the transaction were not disclosed.
"The Russian Federation is recognized as an important and fast growing economy, with double digit growth rates predicted for polyurethane products," Anthony P. Hankins, President of Huntsman's Polyurethanes Division, said in a statement.
He added that the investment will give Huntsman greater access to the high-value coatings, adhesives and elastomers markets through an established, state-of-the-art operations platform.
Huntsman has approximately 12,000 employees and operates multiple locations worldwide. The company reported 2011 revenue of more than $11 billion.
In Canada, Serif Coatings and Chemicals Inc., announced the sale of the Company to Cloverdale Paint Inc. of Surrey, British Columbia, last week. Founded in 1980 by Sandy Palleschi, the Serif produces liquid specialty industrial coatings in a 23,000 square foot manufacturing and distribution facility in Mississauga, Ontario, Canada.
Al Mordy, President and C.E.O. of Cloverdale Paint advises the Serif industrial business will continue to operate as a separate entity, however the Mississauga facility will also be used to support Cloverdale Paint's growing business in Ontario with manufacturing, distribution, technical service, sales administration and customer service.
Palleschi will continue to be involved in the Serif business as a consultant to the Company.
Cloverdale Paint Inc. directly, and through subsidiary Rodda Paint in Oregon, USA, operates manufacturing plants in Surrey, Portland, Winnipeg, and Calgary. Distribution of architectural coatings and related products is through 110 corporate stores throughout Western Canada and the Pacific Northwest of the United States. Cloverdale Paint's industrial maintenance products and its Guertin branded OEM products are distributed through its corporate store chain and through industrial distribution service centers in Surrey, Calgary, Edmonton, Winnipeg and Montreal.
In JV clean-up merger news, Asian Paints has informed authorities that the High Court of Judicature at Bombay has approved the Composite Scheme for Merger and Demerger which facilitates the merger of PPG Coatings India Private Limited (subsidiary of PPG in India) and AP Coatings Limited (wholly owned subsidiary of the Asian) with Asian PPG Industries Limited (APPG) (existing Joint Venture between Asian Paints Group and PPG Group).
The plan then provides for the demerger of the Liquid Industrial Paints, Powder Coatings and Protective Coatings businesses from APPG into Asian Paints PPG Limited.
In research news, Naval Research Laboratory scientists developed a siloxane-based coating for use on flight decks and walkways. The lab reports it is more durable and chemical resistant than traditional, epoxy-based coatings.
A new non-skid coating for use on flight decks and walkways of U.S. Navy ships has been developed by scientists in the Chemistry Division at the Naval Research Laboratory, an agency that has just celebrated its 89th birthday. NRL opened for business July 2, 1923, and today is the Navy's lead laboratory in space systems research, fire research, tactical electronic warfare, microelectronic devices, and artificial intelligence, according to news releases.
Apparently, the non-skid coating is siloxane-based and more durable and chemical resistant than traditional, epoxy-based coatings. The research is funded by the Office of Naval Research's Future Naval Capability Program and supported by the Naval Sea Systems Command.
Earlier this year, a team from the laboratory, along with researchers from Virginia Tech and the University of Pennsylvania, tested the Shipboard Autonomous Firefighting Robot (SAFFiR), a humanoid robot firefighter designed for use aboard Navy vessels.
In nanotechnology news, The U.S. Environmental Protection Agency announced on July 2, 2012, the availability of an external review draft document entitled Nanomaterial Case Study: A Comparison of Multiwalled Carbon Nanotube and Decabromodiphenyl Ether Flame-Retardant Coatings Applied to Upholstery Textiles (EPA/600/R-12/043A).
EPA states that the draft document, "does not draw conclusions regarding potential environmental risks or hazards of multiwalled carbon nanotubes (MWCNT); rather, it aims to identify what is known and unknown about MWCNT to support future assessment efforts."
On October 29, 2012, EPA will hold a public information exchange meeting to: (1) receive comments and questions on the draft document; and (2) provide information on the draft EPA nanomaterial case study and the workshop process that the draft document will be used in for identifying and prioritizing research gaps that could support future assessment and risk management efforts for MWCNT.
Following the conclusion of the October 29 meeting, RTI International, an EPA contractor, will conduct a separate meeting on the "Nanomaterial Case Study Workshop Process: Identifying and Prioritizing Research for Multiwalled Carbon Nanotubes"' in the same location.
EPA states that the workshop will be conducted independently by RTI International, with a set of invitee-only expert participants selected by RTI International, and will use a "structured decision science process" similar to the process used in previous workshops on nanoscale titanium dioxide in water treatment and in topical sunscreen and nanoscale silver in disinfectant spray.
The RTI workshop will be open to public observers. Written comments on the draft document are due August 31, 2012. Registration for the public information exchange meeting will close on October 15, 2012. Space is limited, and reservations will be accepted on a first-come, first-served basis.
In other acquisition news, Berry Plastics Corp. has acquired Stopaq BV, a manufacturer of anti-corrosive coatings and sealants based in Stadskanaal, the Netherlands Berry announced June 19 that it had purchased Frans Nooren Beheer BV companies, which includes Stopaq and its operating arms.
Stopaq makes proprietary viscoelastic materials used in corrosion prevention, sealing and insulation applications, in products ranging from pipelines to power plants.
Along with its manufacturing and R&D plant in Stadskanaal, the company has a production facility in Dammam, Saudi Arabia.
Stopaq officials will take on roles with Berry's Corrosion Protection Group -- J. Frits Doddema, Stopaq CEO, will now serve as Executive VP and General Manager for the group. Frans Nooren, founder of Stopaq, will serve in an ambassador role.
Berry's Corrosion Protection Group, part of the company's Engineered Materials Division, manufactures anti-corrosion and pipe coatings, adhesives and sealants. Berry, based in Evansville, Ind., is known as one of North America's largest packaging companies, with company-wide sales of $4.65 billion in 2011.
This is Berry's 11th acquisition in five years. In March, the company filed plans for an initial public offering.
Keep an eye on these guys.
In new product news, Sigma Paint Middle East introduced Sigmacare, its latest solution for the healthcare industry in the region. Sigmacare is the latest offering by Sigma Paints Middle East that includes a range of specifically selected, high performing, environmentally friendly paints for the individual areas within healthcare facilities combined with a color solution that generates positive feelings for patients, visitors and staff in the healthcare industry.
Antoine Lejuez - Marketing Manager Middle East, said: "Sigma Paints is well known in its efforts to provide solutions that cater to the exact market needs in an innovative way. Sigmacare is our latest offering where we came up with the concept after years of detailed research and analysis to assess the needs of the market and provide it with the proper solution. It is our aim to continuously stick to our values when developing any new offering - innovation, dedication and durable protection."
The Sigmacare concept includes tailored solutions for each specific aspect of the healthcare industry and addresses specifically and directly the needs of healthcare facilities, as well as the needs of the environment, whether it is a new build construction project or the repair and maintenance of an existing healthcare facility.
Specific areas such as treatment rooms, intensive care units and recovery rooms are identified; the paint systems in these critical areas must eliminate the risks associated with cross contamination or the spread of harmful bacteria. Other functional areas of healthcare are also included within the SigmaCare concept, restaurants, kitchens, bathrooms and laundry facilities, where there is a higher risk of mould growth due to steam and or condensation.
The Sigmacare concept includes a wide range of environmentally friendly, anti fungal and anti bacterial paint systems. Included in the range is Sigmacryl Premium ABF - an anti-bacterial and fungicidal waterborne finish based on silver ion technology, Sigmacryl Flat and Silk AF - a waterborne finish paint that is resistant to moulds and algae with low volatile organic compound composition and Sigmacryl Ecoplus Matt and Satin - said by the company to be the only 0 VOC system in the Middle East which enjoys excellent opacity, is odorless and with high scrub resistance.
In other news, daylight acts on our body clock and stimulates the brain. Fraunhofer researchers have made use of this knowledge and worked with industry partners to develop a coating for panes of glass that lets through more light. Above all, it promotes the passage through the glass of those wavelengths of light that govern our hormonal balance...
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DuPont announced the expansion of the DuPont Automotive Center (DAC) in Nagoya and renamed it the DuPont Japan Innovation Center. The expansion and renaming reflects the substantially broader capability of the center to include other industries with remaining focus on the automotive industry...
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Chromatic Technologies Inc. (CTI), the specialized inks company whose innovative offerings are seen on consumer products around the world, has made a lasting impression on the high-quality liqueur from Tuaca. The bottle's lion, a classic brand image for Tuaca, was redesigned as a thermochromic feature for the label on the limited-edition bottle...
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And finally, Nanoledge, a Telesystem portfolio company, just sold its "high performance resin" business to AXSON, a world leader in high performance polymer formulation. Nanoledge, is an innovative startup focused on the high performance epoxy market. Nanoledge has significantly improved composite material performance through its proprietary nanoblending technologies...
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