Coatings News

Axalta Coating Systems to invest $10.5 million in Mexico

Axalta Coating Systems, a leading global supplier of liquid and powder coatings, today announced a commitment to invest $10.5 million in Tlalnepantla, Mexico, to expand capacity to produce resins used in the manufacture of transportation coatings. The investment is intended to enhance and expand the capability of the Tlalnepantla operations center, one of three manufacturing locations for Axalta in Mexico, and headquarters of the company’s businesses in Latin America.

18 Aug 2014 More...

Nuplex: Financial results for the 12 months ended 30 June 2014

Nuplex Industries reported net profit available to equity holders of the parent company after tax (NPAT) for the 2014 Financial Year of $52.4 million, up 17.7% from $44.5 million3 when compared with the 2013 Financial Year. NPAT was impacted by $2.6 million in significant items for the period which included a gain on sale of $7.5 million associated with the sale of Nuplex’s equity investment in the Quaker Chemical (Australasia) Pty Ltd joint venture, and an $8.8 million loss on disposal related to Nuplex’s investment in the RPC Pipe Systems (‘Fibrelogic’) joint venture. At the interim result, a provision of $14.6 million was taken against the ‘Fibrelogic’ joint venture; however, the provision was reduced by $5.8 million following Nuplex’s sale of its shares and exit from the joint venture.

14 Aug 2014 More...

Valspar Reports Fiscal 2014 Third Quarter Results

The Valspar Corporation today reported fiscal third quarter 2014 net sales of $1.2 billion, an increase of 10 percent over the prior year. Reported net income and earnings per diluted share for the current year include nonrecurring items, which are detailed in the “Reconciliation of Non-GAAP Financial Measures” included in this release. Third quarter 2014 adjusted net income and earnings per diluted share, excluding these nonrecurring items, were $103 million and $1.21, respectively. Third quarter 2013 adjusted net income and earnings per diluted share were $96 million and $1.07 respectively.

12 Aug 2014 More...

Synthomer plc: Interim Results for the six months ended 30 June 2014

Total sales declined by 8.6% to £510.1 million (2013: £558.3 million). Group operating profit decreased by 8.8% to £51.1 million (2013: £56.0 million) due to the weaker results in our Asian business, and an adverse currency translation effect of £2.5 million. Overall Group volumes were 1.8% higher. Underlying profit before tax decreased to £45.0 million (2013: £48.6 million), 7.4% behind prior year.

11 Aug 2014 More...

2014 Half Year Results: Altana achieves double-digit sales and profit increase

The specialty chemicals Group ALTANA was able to achieve a significant increase in its sales and earnings in the first half of 2014. Sales in the first six months of the current fiscal year grew by 11 percent to €985 million (previous year: €887 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) reached €212 million, which is an increase of 19 percent compared to the previous year (€178 million). The EBITDA margin increased from an already high level of 20.1 percent to 21.5 percent. "Mainly due to the acquisition of Rockwood's rheology business, we were able to accelerate our profitable growth as planned,” stated Dr. Matthias L. Wolfgruber, CEO of ALTANA AG.

8 Aug 2014 More...

DSM reports Q2 2014 results

Royal DSM, the Life Sciences and Materials Sciences company, today reported second quarter 2014 EBITDA from continuing operations of €293 million compared to €332 million in Q2 2013, and €272 million in Q1 2014. Performance Materials continued its encouraging underlying trend and delivered higher results. Polymer Intermediates was negatively impacted by lower caprolactam margins.

5 Aug 2014 More...

Ashland to expand capacity at Nanjing hydroxyethylcellulose (HEC) production facility by 40 percent

Ashland Specialty Ingredients, a commercial unit of Ashland Inc. (NYSE: ASH), today announced that it would expand capacity at its Natrosol™ hydroxyethylcellulose (HEC) production facility in Nanjing by 4,000 metric tons, or approximately 40 percent, over the next 18 months.

4 Aug 2014 More...

IGM Resins acquires Insight High Technology Group

IGM Resins, Inc., a leader in the development, manufacture and supply of products and technical services to the global UV ink and coatings industry (a portfolio company of Arsenal Capital Partners), has announced the acquisition of Insight High Technology (IHT) Group. IHT is the leading manufacturer of photoinitiators, pharmaceutical intermediates and fine chemicals in China with strengths in technology innovation, scale-up and production.

1 Aug 2014 More...

Wacker continues on its upward sales and earnings trend in Q2 2014

In the April-through-June period, Wacker Chemie AG continued along its upward trajectory with sales and earnings, mainly thanks to substantially higher volumes. The Munich-based chemical company generated second-quarter sales of €1,242.3 million (Q2 2013: €1,150.3 million), up 8 percent on a year earlier and a good 7 percent higher than in the preceding quarter (€1,157.4 million). All five business divisions generated both year-on-year and quarter-on-quarter sales growth. Wacker's Q2 EBITDA climbed to €229.5 million after €188.2 million in Q2 2013 – almost 22 percent more than a year earlier. Rising volumes, better prices for polysilicon and good coverage of fixed costs through high overall utilization of production facilities all contributed to this growth.

1 Aug 2014 More...

Arkema: First half year 2014 results

Sales stood at €1,520 million against €1,629 million in 2nd quarter 2013. Volumes are up 1.1% (2.5% excluding the impact of the shutdown of Chauny in France effective 1st quarter), mostly supported by Industrial Specialties. EBITDA amounted to €206 million against €273 million in 2nd quarter 2013. This decrease reflects continuing challenging market conditions in fluorogases, specific temporary unfavourable factors in polyamide 12, and volumes below expectations in Coating Solutions. The other product lines reported a solid performance. Finally, the strength of the euro versus the US dollar continued to impact the Group’s performance with a -€6 million translation effect in 2nd quarter 2014.

1 Aug 2014 More...

Evonik: A solid performance in Q2 2014 - Slight operating improvement compared with first quarter

In the first six months of 2014, Evonik Group sales posted organic growth of 2 percent. This was driven by higher volumes (5 percentage points), while selling prices were lower (-3 percentage points). Taking into account currency effects (-2 percentage points), sales amounted to €6,448 million, up from the prior-period figure of €6,421 million.

31 Jul 2014 More...

Huntsman Releases Second Quarter 2014 Results

Huntsman Corporation reported adjusted Q2 EBITDA was $363 million compared to $304 million in the prior year period, an improvement of 19%. Adjusted diluted income per share was $0.59 compared to $0.39 in the prior year period. Net income attributable to Huntsman Corporation was $119 million compared to $47 million in the prior year period.

30 Jul 2014 More...

Bayer continues positive business development

Sales of the Bayer Group rose by 0.9 percent in the second quarter of 2014 to EUR 10,458 million (Q2 2013: EUR 10,360 million). Adjusted for currency and portfolio effects, sales advanced by 6.3 percent. EBIT rose by 14.5 percent to EUR 1,473 million (Q2 2013: EUR 1,287 million). The Group took special charges of EUR 48 million (Q2 2013: EUR 256 million). EBIT before special items was down by just 1.4 percent to EUR 1,521 million (Q2 2013: EUR 1,543 million). Despite negative currency effects of about EUR 160 million or approximately 7 percent, EBITDA before special items improved by 1.0 percent to EUR 2,217 million (Q2 2013: EUR 2,195 million) after additional research and development expenses of roughly EUR 70 million. Net income climbed by 13.3 percent to EUR 953 million (Q2 2013: EUR 841 million). Core earnings per share were flat with the prior-year quarter at EUR 1.53 (Q2 2013: EUR 1.54).

30 Jul 2014 More...

Clariant confirms outlook on solid Q2 results

Clariant, a world leader in specialty chemicals, today announced second quarter 2014 sales from continuing operations of CHF 1.531 billion compared to CHF 1.544 billion in the second quarter of 2013, equivalent to sales growth of 6% in local currencies. The organic sales growth of 6% was the result of 5% higher volumes and average sales price increases of 1%.

30 Jul 2014 More...

Elementis: Interim results for the six months ended 30 June 2014

Revenue in the period was $400.0 million, compared to $388.2 million in the same period last year. Consistent with the Group’s strategy the growth came principally from the Specialty Products business. Operating profit was $76.8 million compared to $72.8 million in the first six months of last year and diluted earnings per share in the current period was 12.7 cents compared to 11.3 cents, an increase of 12 per cent.

29 Jul 2014 More...

Eastman Announces Second-Quarter 2014 Financial Results

Sales revenue was $2.5 billion, a slight increase compared with second quarter 2013. Operating earnings for second quarter 2014 were $436 million compared with $428 million for second quarter 2013. Excluding the items described in Tables 3 and 4, second-quarter 2014 operating earnings were $441 million compared with $454 million for second quarter 2013, with the decline primarily due to lower Specialty Fluids & Intermediates segment earnings. The previously announced unplanned shutdown at the Kingsport, Tenn., facility negatively impacted second-quarter 2014 operating earnings by approximately $10 million.

29 Jul 2014 More...

RPM Reports Record Fourth-Quarter And Year-End Results For Fiscal 2014

RPM International Inc. has reported record sales, net income and diluted earnings per share for both its fiscal fourth quarter and fiscal year ended May 31, 2014.

Fourth-quarter net sales increased 9.1% to $1.28 billion from $1.17 billion. Consolidated earnings before interest and taxes (EBIT) improved 36.5% to $172.1 million, from $126.1 million a year ago on an "as-reported" basis. Net income for the fourth quarter was $108.8 million, up 66.4% from the $65.4 million reported in the fourth quarter of fiscal 2013. Diluted earnings per share were $0.80, up 63.3% from $0.49 reported a year ago.

28 Jul 2014 More...

Sika: Growth in all regions and a significant rise in net profit

Sales up 18.1% (10.6% in Swiss francs) to CHF 2,656.9 million

with sales gains in all regions (18.1% growth in the emerging markets). Net profit 25.7% higher.

25 Jul 2014 More...

LyondellBasell Reports Second-Quarter 2014 Results

LyondellBasell Industries today announced earnings from continuing operations for the second quarter 2014 of $2.22 diluted earnings per share, or $1.17 billion. Second quarter 2014 EBITDA was $1.94 billion. The increase from the first quarter 2014 was primarily due to Olefins and Polyolefins – Americas segment results.

25 Jul 2014 More...

Tikkurila's Interim Report for January-June 2014

Good profitability despite weak demand in Russia

25 Jul 2014 More...

BASF increases earnings considerably in the second quarter due to higher volumes

Second quarter 2014 - Sales €18.5 billion (plus 1%). Considerable earnings growth in the chemicals business and in oil & gas. Outlook 2014 confirmed

24 Jul 2014 More...

AkzoNobel Q2 2014 results

AkzoNobel Q2 results reveal volumes positive in all three Business Areas. Operating income €353 million (2013: €322 million) reflecting increased volume and benefits from improvement actions and return on sales (ROS) improved from 8.3% to 9.5%

23 Jul 2014 More...

Dow Reports Second Quarter Results

Delivers earnings of $0.73 per share or $0.74 per share on an adjusted basis. Driven both by sales gains in all operating segments and focused productivity actions

23 Jul 2014 More...

DuPont Q2 earnings report

DuPont announces second quarter 2014 operatings earnings of $1.17 per share compared to $1.28 per share in the prior year

22 Jul 2014 More...

Asian Paints consolidated income from operations up by 18.3%.

Asian Paints today announced its financial results for the first quarter ended June 30, 2014.

"The Decorative business registered double digit growth during the quarter with good growth across geographies. The Automotive coatings JV (PPG-AP), saw good growth in the General Industrial segment and Refinish segments while the Automotive segment demand was subdued. The Industrial Coatings JV (AP-PPG), which had seen a decline in the previous year, saw good volume growth in the Industrial Liquid Paints and Road Marking business. Performance of the International units were a mixed bag with units in Caribbean, UAE, Singapore and Bangladesh doing well. Operations in Egypt were affected due to weak business sentiment in the country." said K.B.S. Anand, Managing Director & CEO, Asian Paints

22 Jul 2014 More...

PPG reports record second quarter net sales and earnings

PPG reports record second quarter 2014 net sales from continuing operations of $4.1 billion, up $199 million, or 5%, versus the prior year

17 Jul 2014 More...

Celanese Corporation Reports Record Quarterly Results Raises 2014 Earnings Outlook

Achieved record adjusted earnings of $1.47 per share, up 11 percent from the prior quarter and 31 percent from same quarter prior year. Increased adjusted EBIT margin by 90 basis points from the prior quarter to 18.6 percent, driven by Advanced Engineered Materials, Industrial Specialties and Acetyl Intermediates. Repurchased approximately 0.8 million shares at an average price of $59.87, deploying $50 million of cash. Ended the quarter with approximately $1.1 billion cash on hand, up from prior quarter. AAP earnings were $1.66 per share compared to $1.25 per share in the prior quarter and $0.83 per share in the prior year quarter

17 Jul 2014 More...

Sherwin-Williams reports 2014 second quarter and first six months financial results

The Sherwin-Williams Company (NYSE: SHW) announced its financial results for the

second quarter and six months ended June 30, 2014. Compared to the same periods in 2013, consolidated net sales increased $329.1 million, or 12.1%, to $3.04 billion in the quarter and increased $528.5 million, or 10.8%, to $5.41 billion in six months due primarily to higher paint sales volume in our Paint Stores Group and acquisitions. Acquisitions increased consolidated net sales 4.6% in the quarter and 4.5% in six months. Unfavorable currency translation rate changes decreased consolidated net sales 0.9% in the quarter and 1.3% in six months.

17 Jul 2014 More...

Albemarle and Rockwood announce merger to create a Premier Specialty Chemicals Company

Albemarle Corporation and Rockwood Holdings, Inc. announced today that they have entered into a definitive agreement under which Albemarle will acquire all outstanding shares of Rockwood in a cash and stock transaction valued at approximately $6.2 billion. This combination reflects both companies' commitment to drive sustainable growth, creating one of the world's premier specialty chemicals companies, with market-leading positions across four high-margin businesses: lithium, catalysts, bromine and surface treatment.

15 Jul 2014 More...

Flint Group publishes 2014 Sustainability Report

The report provides comprehensive economic, social and environmental data, detailing the group’s strong sustainability performance over the last several years

15 Jul 2014 More...

Cabot Corporation demonstrates progress in 2013/2014 Sustainability Report update

Cabot Corporation has released its 2013/2014 Sustainability Report Update detailing the company’s progress in creating economic, environmental and social value by addressing the needs of stakeholders worldwide. The update to the 2012/2013 Sustainability Report, entitled “Advancing,” outlines the company’s continuing efforts to drive innovation and advance its safety, health and environmental performance, while continuing to support customers, employees and communities all over the world.

14 Jul 2014 More...

Evonik invests in new silica plant in Brazil

Evonik Industries plans to build a plant to produce precipitated silicas in Americana (Sao Paulo, Brazil). The company is investing a mid-double-digit million euro amount; the plant is scheduled to go on stream in 2016. This will be the first production plant for highly dispersible (HD) silica in South America.

14 Jul 2014 More...

Evonik and Chinese partner GCL planning to build plants for silicon compounds in China.

Evonik Industries and Jiangsu Zhongneng Polysilicon Technology Development Co. Ltd., a wholly owned subsidiary of GCL-Poly Energy Holdings Limited (GCL-Poly), have signed a letter of intent to establish a joint venture for the production of fumed silica and ultra-pure silicon tetrachloride in China. Evonik will hold a 60 percent share in the joint venture. The plants, which will have an annual capacity of over 20,000 metric tons, will be built in Xuzhou (Jiangsu Province, China) and are scheduled to start-up operation in 2016. The entire project has yet to be approved by the executive bodies.

14 Jul 2014 More...

AkzoNobel launches a new production facility in India for its Industrial Coatings business

AkzoNobel is opening a new production plant in Thane, India to manufacture coatings for the metal packaging and flexible packaging industries. The primary markets the production facility will serve are India, Bangladesh, Sri Lanka and Southeast Asia

14 Jul 2014 More...

Sika expands presence in Brazil

Sika has opened a new plant in Aparecida de Goiania, State of Goiás, Mid-western Brazil which is the seventh plant in the country. Goiás is one of the fastest growing states in Brazil, providing an excellent platform for Sika to supply the central and northern markets in the country. The latest investment complements Sika’s supply chain which covers the entire Brazilian market.

11 Jul 2014 More...

Evonik builds dispersant plant in Essen

Rising worldwide demand for innovative dispersants for paints and printing inks Evonik Industries is building a new production plant for polymer dispersants at the Goldschmidtstrasse site in Essen. The specialty chemicals company is thus investing an amount in the double-digit-million-euro range and is tripling its global capacity for polymer dispersants. Plans call for startup in the first quarter of 2015. Polymer dispersants are mainly used in water-based systems in paints and printing inks and in high-solid systems with a low proportion of solvent.

7 Jul 2014 More...

Axalta Partners with Huajia to Expand Capacity in China

Axalta Coating Systems, a leading global supplier of liquid and powder coatings, is pleased to announce the expansion of its powder production facility in China. New capacity will be added at the Qingpu manufacturing center of Axalta’s powder coatings partner Huajia Chemical Co. Ltd. and will double production to meet the rapid growth of the east China powder coating market. Huajia is a subsidiary of Yongjia Chemical Co. Ltd.

30 Jun 2014 More...

PPG reaches agreement to acquire Comex

PPG Industries today announced that it has reached a definitive agreement to acquire Consorcio Comex, S.A. de C.V. (“Comex”), an architectural and industrial coatings company with headquarters in Mexico City, Mexico. The transaction is valued at $2.3 billion and is subject to regulatory approvals and customary closing conditions.

30 Jun 2014 More...

Allnex installs new capacity for waterborne coating resins to support growth in Asia Pacific

Allnex announced today the installation of a new reactor at its Plant at Rayong, Thailand. This investment is a commitment to globalize the production of its waterborne coating resins to Asia Pacific. The new capacity is targeted to operate in the first quarter of 2015.

30 Jun 2014 More...

Solvay and INEOS to create INOVYN™, a leading chlorovinyls producer

Solvay has signed a definitive agreement with INEOS to create a strong player in chlorovinyls, to be named INOVYN™. The joint venture is expected to be effective by year-end following the divestments required by the European Commission.

26 Jun 2014 More...

Altana Group invests €100 million in Landa Digital Printing

The specialty chemicals Group ALTANA and Landa Corporation have concluded an equity financing agreement under which ALTANA will invest €100 million (~US$135 million) for a minority stake in Landa Digital Printing. Both companies see the agreement not only as a financial investment, but also as a starting point for a long-term strategic partnership to bring digital printing solutions to the commercial, packaging and publishing markets. Other units of the Landa Group, including Landa Labs and Landa Ventures, are not included in the transaction.

25 Jun 2014 More...

AkzoNobel to invest in new Performance Coatings technology center in China

AkzoNobel is investing more than €6.5 million in its Songjiang site near Shanghai to expand an existing research center by adding a dedicated facility for the company’s Performance Coatings businesses.

23 Jun 2014 More...

PPG to invest $40 million in facility expansion in Brazil

PPG Industries today announced an investment of about $40 million in its coatings manufacturing facility located in Sumare, São Paulo, Brazil.

The expansion project will add a 65,000-square-foot plant for on-site resin production. The resin will be used to manufacture PPG’s electrocoat products to meet growing demand among automotive original equipment manufacturers (OEMs) and industrial coatings customers in the region.

17 Jun 2014 More...

Clariant inaugurates Indonesian Investments

Clariant, a world leader in specialty chemicals, inaugurates enhancements to its production capabilities and service support for its customers in Indonesia and South East Asia and Pacific (SEA&P) at an official ceremony at its Tangerang site today. The significant increase in production capacity and upgrading of local facilities will better support the strong growth in demand for pigments, masterbatches, personal care, home care and industrial care ingredients in local and overseas markets.

12 Jun 2014 More...

PPG to acquire Specialty Coatings Supplier the Homax Group

PPG Industries announced that its North American architectural coatings business has reached a definitive agreement to acquire The Homax Group, Inc., a supplier of decorative wall and ceiling texture repair products. Homax is a portfolio company of Olympus Partners. The transaction is expected to close in the third quarter, subject to customary closing conditions.

5 Jun 2014 More...

Jotun invests in growth markets

For the first four months of 2014, Jotun reported operating revenues of NOK 4 091 million, up 5 per cent from the same period last year (T1 2013: NOK 3 901 million). The growth was driven by increased sales in North East Asia and Eastern Europe.

28 May 2014 More...

Valspar Reports Fiscal 2014 Second-Quarter Results

The Valspar Corporation today reported second quarter 2014 net sales of $1.1 billion, an increase of 10 percent over the prior year. Reported net income and earnings per diluted share for the current year includes nonrecurring items, which are detailed in the “Reconciliation of Non-GAAP Financial Measures” included in this release. Second quarter 2014 adjusted net income and earnings per diluted share, excluding these nonrecurring items, were $93 million and $1.07, respectively. Second quarter 2013 adjusted net income and earnings per diluted share were $83 million and $0.91, respectively.

19 May 2014 More...

Sika acquires swiss adhesives manufacturer Klebag

Sika is acquiring the business of Klebag Chemie AG, a manufacturer of adhesives for the sealing, bonding and flooring markets. The takeover strengthens Sika’s position in the Swiss interior finishing sector. Last financial year, Klebag generated net sales of CHF 12 million.

19 May 2014 More...

Asian Paints Consolidated Income from Operations for the Quarter increases by 22%

Asian Paints Limited has today announced its financial results forthe quarter and year ended March 31, 2014.

“Decorative paint demand in India remained resilient inspite of the overall sluggish environment. We registered double digit volume growth with good growth from Tier 2 & Tier 3 cities” said K.B.S. Anand, Managing Director & CEO, Asian Paints Limited. “Industrial coatings business continues to be affected by the economic slowdown. Automotive coatings growth was subdued due to poor demand in the automotive sector. International business performed well led by good growth in some key markets like Bangladesh, Nepal and Emirates. However, performance in some markets was impacted by continued political unrest and weak economic activity. In order to expand its international presence, Asian Paints had entered into an agreement with Kadisco Chemical Industry Plc, Ethiopia to acquire 51% of its share capital”, he added.

14 May 2014 More...

Momentive Specialty Chemicals Inc. Announces First Quarter 2014 Results

Momentive Specialty Chemicals Inc. today announced results for the first quarter ended March 31, 2014.

Total revenues increased 8% to $1.29 billion primarily reflecting increased volumes in our oilfield, specialty epoxy, North American formaldehyde and Latin America forest products resins businesses. Segment EBITDA increased 11% to $117 million primarily reflecting higher sales, cost control and productivity initiatives, partially offset by continued softness within base epoxies. Continued to invest in the growth of the Company’s specialty product portfolio: i) acquired a resin coated proppants facility in Shreveport, LA, in January 2014, and ii) approved the construction of a new formaldehyde facility in North America.

14 May 2014 More...