Coatings News

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...

Tikkurila's interim report for January-March 2014 - Strong start to the year

Revenue for the first quarter increased by 2.2 percent to EUR 141.5 million (1-3/2013: EUR 138.4 million). Operating profit (EBIT) excluding non-recurring items was EUR 13.0 (10.1) million, i.e. 9.2 (7.3) percent of revenue. Operating profit (EBIT) was EUR 13.8 (10.2) million, i.e. 9.8 (7.4) percent of revenue.

8 May 2014 More...

Solvay and AkzoNobel seal partnership with EY to monitor sustainable raw material use

Solvay and AkzoNobel have joined forces with EY (Ernst & Young) to jointly develop a monitoring system that tracks and quantifies the use of renewable raw materials in paints, coatings and other applications.

7 May 2014 More...

Arkema: First Quarter 2014 Results

The 1st quarter performance is underpinned by growth in volumes. As anticipated, performance in fluorogases was significantly down compared to the high reference point of last year. Excluding fluorogases, the Group’s EBITDA improved noticeably despite an unfavourable euro/US dollar exchange rate. High Performance Materials achieved very good results in market conditions that had improved over last year, and benefited from the Group’s innovation drive. The Coating Solutions segment has shown, quarter after quarter, its ability to adapt to mixed environments. This performance reflects the productivity efforts that have been ongoing for the past two years, as well as the relevance of the investment projects undertaken in this segment, in particular in North America.

7 May 2014 More...

Sun Chemical’s Latest Sustainability Report Improves Data Reporting, Shows Examples of Renewable Projects

Sun Chemical has published its fifth Corporate Sustainability Report, which introduces a new internal web-based data collecting system designed to improve metrics reporting, and highlights many examples of renewable projects being implemented at various Sun Chemical production facilities worldwide.

6 May 2014 More...

Crown Paints new filling line up and running

After almost 12 months of work and an investment of over EUR 1 million, Crown Paints’ new high-speed filling line is now fully up and running. Located at Crown Paints’ manufacturing site in Hull in the UK, the line offers faster filling rates along with significant savings in the usage of water needed to clean paint delivery pipework, electrical power and compressed air.

6 May 2014 More...

DSM: Results & outlook Q1 2014

On 6 May 2014 Royal DSM, the Life Sciences and Materials Sciences company, reported first quarter EBITDA from continuing operations of €272 million compared to €301 million in Q1 2013. This performance was delivered against significant adverse foreign exchange rates. Materials Sciences was impacted by lower results in caprolactam.

6 May 2014 More...

Evonik Q1 2014: A slow start to the year

Evonik made a slow start to 2014 compared with the first quarter of 2013, which was by far the best quarter of the year," said Klaus Engel, Chairman of the Executive Board of Evonik Industries AG today, when the Group published its key financial figures for the first quarter of 2014. "The renewed strong growth in demand was pleasing, but selling prices for some important products were well below the year-back level due to the challenging market conditions. However, they were slightly better than at year-end 2013," reported Engel. While sales were virtually unchanged, Evonik achieved solid adjusted EBITDA, although it was considerably lower than in the strong prior-year period.

6 May 2014 More...

Wacker posts significant sales and earnings growth in Q1 2014

Wacker Chemie AG generated both year-on-year and quarter-on-quarter sales growth from January through March 2014, thanks especially to higher volumes. In Q1 2014, the Munich-based chemical company generated sales of €1,157.4 million after €1,076.3 million in the prior-year period. This is almost 8 percent more than in the prior-year period and 6 percent up from the preceding quarter (€1,086.9 million). All five business divisions contributed to this growth.

5 May 2014 More...

Cabot Corp reports Second Quarter Adjusted EPS of $0.83 and Diluted EPS of $0.54

Cabot Corporation today announced results for its second quarter of fiscal year 2014, including strong volumes in Reinforcement Materials and Performance Materials.

30 Apr 2014 More...

Clariant with promising start to the year

First quarter 2014 sales from continuing operations increased 5% in local currencies. In Swiss francs, sales decreased 2% to CHF 1.49 billion from CHF 1.53 billion in the first quarter of 2013

30 Apr 2014 More...

LyondellBasell reports First-Quarter 2014 Results

Diluted earnings per share of $1.72; $943 million income from continuing operations. EBITDA of $1,668 million notwithstanding plant maintenance and weather-related cost increases

29 Apr 2014 More...

Huntsman releases First Quarter 2014 Results

Huntsman Corporation (NYSE: HUN) today reported first quarter 2014 results with revenues of $2,755 million and adjusted EBITDA of $329 million.

29 Apr 2014 More...

ALTANA Group significantly expands presence in China

ALTANA, the specialty chemicals group based in Wesel, Germany, is significantly expanding its presence in China. In April, the ACTEGA division opened a new laboratory building for coatings and sealants at its production site in Foshan. ELANTAS commissioned a new plant for wire enamels in Tongling. And BYK signed a contract for the purchase of a site for developing and manufacturing chemical additives in Shanghai. With these projects, the ALTANA Group is investing a total of over € 30 million in the further growth of its China business.

29 Apr 2014 More...

Bayer: Very successful start to 2014

The Bayer Group started the year 2014 with encouraging growth in sales and earnings. "Our Life Science businesses continued their dynamic development and achieved slight earnings increases despite significant negative currency effects," Bayer CEO Dr. Marijn Dekkers said on Monday when the interim report was published. HealthCare experienced strong growth thanks to the gratifying development in sales of the recently launched pharmaceutical products. CropScience benefited from an early start to the season in Europe. MaterialScience, in particular, raised earnings substantially. "We are confident about our business development for the rest of the year and confirm our guidance for 2014," said Dekkers.

28 Apr 2014 More...

Elementis Interim Management Statement

Coatings additives continued to experience strong growth in Asia Pacific and Latin America and our investment in our new North American facility in New Martinsville continues to show good progress, delivering innovative additives to the decorative coatings market. This contributed to our coatings business in the region delivering an attractive growth rate.

24 Apr 2014 More...

Eastman Announces First-Quarter 2014 Financial Results

Eastman Chemical Company today announced earnings, excluding non-core or non-recurring items, of $1.61 per diluted share for first quarter 2014 versus $1.62 per diluted share for first quarter 2013. Reported earnings were $1.52 per diluted share for first quarter 2014 versus $1.57 per diluted share for first quarter 2013.

24 Apr 2014 More...

Lonza Q1 Business Performance on Track

In the first quarter of 2014, Lonza’s business performance was fully in line with our expectations. In both the Specialty Ingredients and Pharma&Biotech segments, we realized our growth targets and achieved a better performance than in the same period of the previous year. We experienced considerable translational currency impact from the strong Swiss franc, but we were able to compensate the bottom-line impact in the first quarter by productivity improvements.

24 Apr 2014 More...

Dow reports First Quarter Results

he Company reported earnings of $0.79 per share. This compares with earnings of $0.46 per share in the same quarter last year, or adjusted earnings of $0.69 per share – a 14 percent increase versus the year-ago period.

23 Apr 2014 More...

Celanese Corporation Reports Record First Quarter 2014 Results

Celanese Corporation, a global technology and specialty materials company, today reported first quarter 2014 adjusted earnings per share of $1.33 versus $1.04 in the prior quarter.

21 Apr 2014 More...

DuPont Reports Q1 Operating EPS of $1.58; Reaffirms 2014 Outlook

DuPont, a science company that brings world-class, innovative products, materials, and services to the global marketplace, today announced first quarter 2014 operating earnings of $1.58 per share compared to $1.56 per share in the prior year. GAAP1 EPS was $1.54 versus $1.47 last year. Consolidated sales were $10.1 billion, 3 percent below last year, principally due to differences in timing and planted area for Agriculture sales, negative currency impact, and adverse weather conditions in North America. However, volume grew in each of DuPont's industrial related segments and operating margins increased in 6 of 7 segments versus last year's first quarter.

17 Apr 2014 More...

The Sherwin-Williams Company Reports 2014 First Quarter Financial Results

The Sherwin-Williams Company announced its financial results for the first quarter ended March 31, 2014. Compared to the same period in 2013, consolidated net sales increased $199.4 million, or 9.2%, to $2.37 billion in the quarter due primarily to higher paint sales volume in our Paint Stores Group and acquisitions. Acquisitions increased consolidated net sales 4.5% in the quarter.

17 Apr 2014 More...

AkzoNobel publishes Q1 2014 results

Akzo Nobel N.V. (AkzoNobel) today reported a positive volume and price/mix development in all three Business Areas. First quarter revenues of €3,383 million were 2 percent lower compared with the same period last year. The decrease was mainly a consequence of a 5 percent impact from currency translation. Operating income was flat at €216 million after €15 million higher restructuring charges and currencies. As a consequence of de-risking our pension liabilities in the UK, other comprehensive income in shareholders’ equity was adversely affected by €0.8 billion.

17 Apr 2014 More...

Goldman Sachs Merchant Banking Division Partners with Koch Industries Subsidiary to acquire Flint Group from CVC Capital Partners

Goldman Sachs Merchant Banking Division announced today that it has partnered with Koch Equity Development LLC, a subsidiary of Koch Industries, Inc., to acquire shares representing 100% of Flint Group’s share capital from funds advised by private equity firm CVC Capital Partners. Koch Equity Development has agreed to invest with Goldman Sachs in a newly formed entity that will acquire Flint Group.

10 Apr 2014 More...

Sherwin-Williams terminates stock purchase agreement for Comex Mexico

The Sherwin-Williams Company announced that, on April 3, 2014, it sent notice to the sellers that effective immediately Sherwin-Williams is terminating the amended and restated stock purchase agreement, dated September 16, 2013, to acquire the Mexico business of Consorcio Comex, S.A. de C.V.

4 Apr 2014 More...

Solvay has completed the acquisition of the specialty chemical assets of ERCA Química, Ltda. in Brazil

Solvay has completed the acquisition of the specialty chemical assets of ERCA Química, Ltda. in Brazil, enabling the Group to more than double its surfactant production capacity in the country and to expand its access to one of the world’s largest personal care and agrochemicals markets.

3 Apr 2014 More...

RPM reports record fiscal 2014 third-quarter results

RPM International Inc.today reported record financial results for its fiscal 2014 third quarter ended February 28, 2014, which reflected strong performance by the company's industrial segment that overcame weather-related weakness in its consumer segment. et sales grew 2.3% to $863.4 million in the fiscal 2014 third quarter from $843.7 million in the fiscal 2013 third quarter. Consolidated earnings before interest and taxes (EBIT) were $37.2 million, compared to a reported negative $48.6 million in the fiscal 2013 third quarter. Record net income for the fiscal 2014 third quarter of $16.2 million, or $0.12 per diluted share, compared to the reported net loss for the year-ago quarter of $42.4 million, or $0.33 per diluted share.

3 Apr 2014 More...

Hempel Annual Report 2013: Strengthening financial capabilities to support future growth

The Hempel Group’s continued focus on efficiency and profitability ensured it delivered a net profit of EUR 65 million in 2013, despite volume growth of only two per cent. The Group also secured an EBITDA result of EUR 165 million, the highest in its history.

2 Apr 2014 More...

Momentive Specialty Chemicals Inc. announces Fourth Quarter and Year Ended 2013 results

Total revenues increased 11% to $1.20 billion primarily reflecting an increase in oilfield, specialty epoxy and forest products volumes. Segment EBITDA decreased 6% to $79 million primarily reflecting cyclicality within base epoxies and Versatic™ Acids and Derivatives and higher pension costs, partially offset by continued strong growth in oilfield and forest products.

31 Mar 2014 More...

Nuplex: 2014 Financial Year Half Year Report

Profit available to equity holders of the parent Company for the period was $11.4 million. This result included $14.6 million (after tax) of significant items, compared to $11.5 million in the prior half, which included $13.0 million in significant items.

26 Mar 2014 More...

2013 Results: ALTANA continues growth course

The specialty chemicals group ALTANA continued on its growth course in the 2013 business year. Sales increased by 4% to €1,765 million in year-to-year terms. "With the acquisition of Rockwood's rheology business, in particular, we reached another important milestone on our path for profitable growth," stated Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. "We want to consistently continue on our growth course in the future." Acquisitions contributed 3% to the growth in sales. Negative exchange rate effects curtailed growth by 2%. Adjusted for these effects, operating sales growth was 3%, particularly due to higher sales volumes.

21 Mar 2014 More...

Sun Chemical Partners with T+ink and Forms T+sun

Sun Chemical has teamed up with T+ink to form T+sun, an organization which will provide conductive ink solutions to make packages and objects communicate, engage customers and manage inventory systems.

20 Mar 2014 More...

Cabot Corporation to Divest Security Materials Business

Cabot Corporation has entered into an agreement to sell its Security Materials business to SICPA for approximately $20 million in cash consideration. The Security Materials business utilizes patented spray pyrolysis technology for brand protection activities and advanced nanotechnology for covert taggant applications.

20 Mar 2014 More...

LANXESS publishes results for fiscal 2013

Sales fell by nine percent against the prior year to EUR 8.3 billion. This development was primarily due to lower selling prices in the Performance Polymers segment resulting from declining raw material prices and the challenging competitive situation. EBITDA pre exceptionals decreased by 40 percent year on year to EUR 735 million and was thus within the guided range of EUR 710 million to EUR 760 million. This was also attributable to an increase in production-related costs and negative currency effects. The slight increase in volumes could not compensate for the decline in earnings. The Group's EBITDA margin pre exceptionals fell to 8.9 percent from 13.4 percent in 2012.

20 Mar 2014 More...

Wacker expects higher sales and earnings in fiscal 2014

Wacker Chemie AG ended 2013 with lower sales and earnings compared to 2012. As the Munich-based chemical company announced today on presenting its 2013 annual report, Group sales totaled €4.48 billion, some 3 percent down on 2012 (€4.63 billion). The decline was chiefly due to weaker prices, particularly for solar-grade silicon and semiconductor wafers.

18 Mar 2014 More...

Evonik opens plant expansion in Thailand

Evonik has opened its expanded production for precipitated silica in Rayong, Thailand. With this investment, Evonik increased its capacity for precipitated silica for the automotive industry, food and animal feed industry as well as the paints and coatings industry.

14 Mar 2014 More...

Eastman to acquire Commonwealth Laminating & Coating, Inc.

Eastman Chemical Company today announced that it has entered into a definitive agreement to acquire Commonwealth Laminating & Coating, Inc. The company, which had 2013 sales revenue of approximately $100 million, is an independent manufacturer and global marketer and distributor of window films and specialty films for automotive, architectural, and protective applications. The acquisition will include Commonwealth’s manufacturing facility and master distribution center in Martinsville, VA, and nine sales distribution centers that serve the global market.

13 Mar 2014 More...