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Dow Chemical’s Big Day
Dow Chemical is reporting its earnings on Tuesday and plans to file its answer to Rohm & Haas’s complaint in Delaware Chancery Court. I suspect that neither one is likely to provide a big surprise.
First, I believe that Dow’s earnings will look horrible and Dow no doubt will do everything it can to adjust them down. But Dow can only go so far — cash flow is cash flow — and the more tangible numbers rather than the headline will be the focus of analysts.
As for Dow’s answer in Delaware, it is very clear at this point that Dow is going to throw itself on the mercy of Chancellor William B. Chandler III. Dow is going to claim that specific performance is an equitable remedy. Judge Chandler should use his equitable discretion to forgo awarding the remedy. Instead, monetary damages should be awarded <more>
DuPont EP creates Center of Excellence in India to aid technology adoption (3-2-2009)
Recognizing India as one of the fastest growth markets, DuPont Engineering Polymers, a business unit of DuPont, announced the creation of a Center of Excellence in the country to accelerate growth in the region. The new Engineering Polymers center of excellence will support development and extension of the latest engineering polymer technologies and share acquired knowledge among regional application and industry teams for business growth. It will enable the use of the latest technology and advanced engineering software to support the design and application development needs of customers in India. "The purpose of setting up this center is to be able to support our customers with more reliable and accurate technical solutions within a shorter time span and help them grow profitably and sustainably," says V Venkatesan, India business leader of DuPont Engineering Polymers. Reflecting s paradigm shift in Indian manufacturers for adopting high performance materiasl over commodity plastics, the use of specialty engineering polymers such as DuPont™ Zytel® HTN, DuPont™ Hytrel® TPE, DuPont™ Zenite® LCP have spiked significantly in the last few years.
DuPont Engineering Polymers, a global leader and materials supplier to diversified industries projects a large number of growth opportunities including developing automotive systems, enhancing high-performance parts and reducing cost for various applications, with particular emphasis to growth in emerging geographies such as India. With the setting up of this Center of Excellence, DuPont is the first resin supplier to provide the full spectrum of Computer Aided Engineering (CAE) and Computer Aided Design (CAD) capabilities in India. The CAE staff also has strong networks with DuPont design teams around the world, who is equipped with state-of-art software and facilities to provide 3D surface CAD, mold-flow, warpage, structural, impact and NVH (noise, vibration, harshness) analysis. DuPont has recently launched products including DuPont Delrin® 300CP high impact-modified and high viscosity polyacetal resin that optimises impact performance, flow and cost efficiency. In addition, the new super-fast grades of DuPont™ Crastin® PBT thermoplastic polyester, molders can cut cycle time for PBT parts up to 30% and deliver cost savings up to 20% for molding thin-wall par <more>
DuPont India plans to double its workforce
NEW DELHI: DuPont India plans to double its workforce at the knowledge centre in Hyderabad to 600 in the next one year, said Dupont director sales (engineering ploymers-Asia Pacific) Philippe Hanck on Wednesday. Currently, about 300 scientists and researchers are employed in the knowledge centre.
The centre focuses on basic R&D services, intellectual property services, product application development, engineering design services and other high-end IT support in various areas. <more>
Nerolac to establish second facility in Tamil Nadu
Kansai Nerolac Paints is installing its second manufacturing facility in Tamil Nadu at Hosur with an initial investment of around Rs 900 million, reports Business Standard.
The company has a similar facility in Perungudi at Chennai.
The company said the new facility would commence operations in October this year and it would manufacture decorative paints and paints for general industrial products.
The facility, to come up on 50 acre, would be a water-based paint manufacturing factory, its initial capacity would be 15,000 ton, which would be scaled up to 75,000 ton in three phases.
PPG files trademark infringement suit against Sherwin-Williams
PPG Industries Inc. has filed a trademark infringement complaint against competitor Sherwin-Williams Co.
The suit, filed in the U.S. District Court for the Western District of Pennsylvania, concerns the use of the phrase "The Color of Inspiration." PPG says that it has used the phrase in connection with a paint color selection and matching system, used at Lowe's stores. But Sherwin-Williams has registered the phrase as a domain name, according to the suit.
"PPG has invested significantly in its mark and the system identified by that mark and has built a valuable reputation for the mark, the system, and the products sold in connection with the 'Colors of Inspiration' system," according to a statement from PPG spokesman Jeremy Neuhart.
Downtown Pittsburgh-based PPG (NYSE:PPG) manufactures chemicals, paints and other coatings for a wide range of industries, including aerospace, packaging, water treatment and automotive.
Mike Conway, spokesman for Cleveland-based Sherwin-Williams (NYSE:SHW), which makes paints and coatings, issued the following statement: "Having just received the complaint, we have no comment at this time but will comment when we file a response with the court."<more>
ASTM International Committee A05 on Metallic-Coated Iron and Steel Products has approved a new standard, ASTM A1059/A1059M, Specification for Zinc Alloy Thermo-Diffusion Coatings (TDC) on Steel Fasteners, Hardware and Other Products. The new standard is under the jurisdiction of Subcommittee A05.13 on Structural Shapes and Hardware Specifications. The technology described in ASTM A1059/A1059M has, over the last 15 years, become a popular means for providing an environmentally friendly way to replace toxic materials, such as cadmium and chromium compounds typically used for corrosion protection. According to Moshe Moked, president, M-Tech Inc., and an A05 member, ASTM A1059/A1059M will be useful in any application in which cost-effective, high-performance corrosion protection is needed. "The primary users will be producers and applicators providing corrosion protection to hardware parts such as fasteners, infrastructure elements like structural members, automotive, agricultural, and military parts," Moked said. <more>.
Thermo Fisher Scientific
MUMBAI, India – Thermo Fisher Scientific has signed an agreement with TTL Technologies Pvt. Ltd., an instrumentation solutions company, to distribute Thermo Scientific rheometers and viscometers in India. By combining the market experience of TTL with Thermo Scientific instruments, the companies aim to offer application expertise and rheology solutions to their customers, making them more successful in their markets.
In addition to Thermo Fisher Scientific’s direct sales and service offices in Mumbai, Pune, Chennai and Delhi, TTL’s subsidiaries across the country will help to more efficiently support Indian customers. In the Indian market, Thermo Scientific rheometers and viscometers, previously sold under the HAAKE brand name, are often the first choice when it comes to reliable and precise viscosity or rheology measurements. <more>
Industrial Nanotech Cancels China Order
NAPLES, FL – Industrial Nanotech Inc., an emerging leader in nanotechnology, has cancelled an order for 12,000 gallons of its patented Nansulate® nanotechology-based coatings from Golden Horse Real Estate Co. Ltd. in China.
“The relationship with Golden Horse Real Estate Co. Ltd. began to present financial risks to Industrial Nanotech Inc., which were not in the best interests of the company or its shareholders, and we have declined to proceed,” stated Stuart Burchill, CEO/CTO of Industrial Nanotech Inc. “We will not create exposure to financial risk by selling to customers under unfavorable terms and conditions. The company continues to nearly double revenues year after year since inception in 2004, including in the difficult economic climate of 2008, by selling to customers under terms and conditions that are favorable to the company, and we prefer that strategy.”
Huntsman has suspended work on design and feasibility studies for its planned investment in a new methylene diphenyl diisocyanate (MDI) plant at its site in Rozenburg, the Netherlands, because existing production capacity is adequate to meet current demand for MDI-based polyurethanes following the downturn in global economic growth. The design and feasibility studies, which include preliminary engineering for the planned 400,000 tpa capacity unit, will be halted at a stage to allow quick and efficient re-engagement at a future date. Until such time, all third party work on the project will be suspended.
In addition, Huntsman’s internal evaluation of strategic options for the construction of a second MDI unit in China will continue, with a number of different options under consideration.
Also at Huntsman, its maleic anhydride production joint venture with Sasol has successfully completed negotiation of project financing agreements. The project financing is non-recourse to the joint venture’s parent companies and will add no debt to Huntsman’s balance sheet.
The new financing will be used to expand the joint venture’s maleic anhydride production site in Moers, Germany, from its existing yearly capacity of 60,000 tonnes to a new capacity of 105,000 tonnes by addition of a second world scale reactor. Like the existing reactor, the new unit will use Huntsman’s proprietary technology and catalyst.
The new reactor and other major equipment is already on order, detailed engineering is under way, and the EPCM contract has been awarded. Basic engineering and site preparation were completed early last year. Start-up of the new unit is scheduled for the first quarter of 2011.
The addition of the second reactor at the Moers site, along with the planned April 2009 start-up of Huntsman’s wholly-owned 45,000 tonne maleic anhydride plant in Geismar, Louisiana, will increase Huntsman’s total global maleic anhydride capacity (including its joint venture) from its current capacity of 139,000 tonnes to a new capacity of 207,000 tonnes per year. (Source: PR Newswire, 10 and 11 February 2009)
Daimler AG, manufacturer of Mercedes-Benz vehicles, has approved the Global Refinish System from PPG Industries, including the Envirobase High Performance waterborne basecoat, for repair in North America of all Mercedes-Benz passenger cars. In addition, the Delfleet commercial coatings system by PPG has been approved for repair of Mercedes-Benz commercial vehicles. The approvals were based on results of a rigorous four-day audit conducted by Mercedes-Benz representatives at PPG facilities in the United States and Germany.
Michael Gimpl, Daimler AG’s Manager of Global Service and Parts, said, “We are pleased to continue the collaboration with PPG in aftermarket sales as we are convinced of their premium product quality as well as their worldwide service capabilities that add value to our network.”
Daimler AG visited PPG’s corporate headquarters in Pittsburgh, the company’s production facilities and training centre in Delaware, Ohio, and the PPG European Technical Centre in Ingersheim, Germany.
“We are, of course, very pleased to be recognised by Daimler AG in this manner and to continue our partnership with them,” said Kevin Loop, PPG’s Business Development Manager. “The audit, known as the Quality Management System Alignment, was extremely thorough and informative. There’s no better confirmation of quality than being approved by a premium manufacturer like Mercedes-Benz. Their choosing PPG as a paint partner is something we can be very proud of.” (Source: PPG Industries)
Kuwait construction industry projected to be worth $2.6bn
KUWAIT CITY, Feb 1: The construction industry in Kuwait is projected to be worth $2.65 billion in 2009, according to Business Monitor International (BMI). In line with this, Jotun, one of the world’s leading producers and suppliers of paints and coatings, has announced plans to further fortify its market position in Kuwait and also several other important markets in the region. The company established its Middle East presence in 1974 with the launch of Jotun UAE Ltd, which today is one of the leading paint and coatings manufacturers in the region with an annual production that touched 200 million litres in 2007. Jotun Group has in recent years leveraged its global reach and ability to deliver a broad range of paints and coating solutions to the international construction community, while taking advantage of the sharp increase in major construction and infrastructure projects across Middle East and Asia. <more>
Pipe Coating Market Rises to 190 mln sq mtrs in 2007, with 15% Global Annua
The pipeline coating market has risen from 120 million square meters in 2004 to 190 million square meters in 2007 with a global annual growth rate of 15%, according to research conducted by Noru Tsalic at Applied Market Information. Polyethylene (PE) accounts for the majority of the market for polymers (over 350 kt), followed by polypropylene (PP) and epoxy (FBE). Asphalt is still used but generally now in more specialised applications such as under impinged concrete. Concrete is used as a coating too, for example for weight in negative buoyancy applications. The challenges for pipeline engineers are the increasingly aggressive contents and the harsher operating conditions for oil and gas. Cathodic protection is limited by the amount of current required, hence the need for coatings. This was discussed at the January 2009 AMI conference on Pipeline Coating, held in Vienna, Austria.
Bredero Shaw and Shawcor are leaders in the field of pipe coating. Graded structure coatings were developed in the 1990s and comprise an FBE layer covered by an adhesive layer and a polyolefin: the FBE gives excellent adhesion to steel and the polyolefin provides a moisture barrier. The traditional multilayer PE application process can lead to a tenting effect in the weld region - the company's new technology overcomes this and the outer layer provides enhanced resistance to damage <more>
Paints and Coatings: Global Industry Guide
'The global paints and coatings market grew by 3.1% in 2008 to reach a value of $101.5 billion. In 2013 the global paints and coatings market is forecast to have a value of $120.8 billion, an increase of 19% since 2008.
Fire in Binghamton being investigated
New Details this afternoon on a Binghamton Fire that damaged a warehouse overnight. Fire crews responded just before 9 PM last night to 24 Broad Street.
Binghamton Police say the building, houses TJ Powder Coaters, Incorporated, a painting business.
Fire officials say a large supply of powder coating material caught fire.
One firefighter was taken to the emergency room, where he was treated and released for minor injuries.
The building sustained minor damage.
A cause is still under investigation.<more>
Asian Paints website wins Web Award 2008.
The Asian Paints website has received the prestigious Web Marketing Association’s Web Award 2008 for Outstanding Achievement in Web Development in the Consumer Goods Standard of Excellence category.
AsianPPG wins three awards from Indian Paint Association
The recognition, awarded by the Indian Paint Association biannually at the conference, aims to promote research and innovation in the paint industry in India.
AsianPPG Industries Ltd. – a joint venture of PPG Industries, the world’s second-largest manufacturer of paints and coatings, and Asian Paints (India) Ltd. –won three 2009 Indian Paint Association Awards at the 24th Indian Paint Conference, held here Feb. 6-8, for research papers written by the AsianPPG technical team. The recognition, awarded by the Indian Paint Association biannually at the conference, aims to promote research and innovation in the paint industry in India..<more>
Layoff, Shutdown, Job cuts........
Slowdown may affect less adversely home re-painting segment
CHENNAI: The economic slowdown may not have a major impact of the decorative paints segment compared to industrial paints segment, says Ashwin Dani, Vice-Chairman and Managing Director of Asian Paints.
Mr. Dani, who addressed a press conference here on Friday at the launch of Indian Paints Association Conference in Chennai, said that home re-painting segment might not be affected by the economic slowdown, as the reasons for the re-painting had to do with feel good factors and festivals. But with delay in the construction of new buildings, consumption of paint in this segment would be lower as compared to last year. The industry that had grown at the rate of 12-15 per cent last year was expected to grow by 7-9 per cent this year. On the industrial paints segment, he said the auto industry was expected to go slow.
Nearly 49 per cent of the total Rs. 16,000-crore turnover of the paint industry came from the four major manufacturers, 16 per cent from the companies that reported a turnover of more than Rs. 100 crore and the balance from 2,500 small and medium companies, said N. K. Bhatia, Chairman and Managing Director, Premium Coating and past-President of the Indian Paints Association.<more>
Rohm and Haas Co. Reports Decreased Fourth-Quarter Results
Rohm and Haas Co. has reported fourth-quarter 2008 sales of $2,030 million, a 13 percent decrease over the same period in 2007
Paint-maker Akzo Nobel posts euro1.52B loss in 4Q
Akzo Nobel NV, the world's largest maker of paints, reported a euro1.52 billion ($1.93 billion) loss for the fourth quarter, due mostly to writedowns on the value of a British company it bought last year which was hit hard by the global economic downturn.
The loss compares to a euro56 million profit in the fourth quarter a year earlier. Operating profit fell 21 percent to euro219 million, while sales were down 2.7 percent to euro3.56 billion.
The net loss was caused by a euro1.3 billion charge against the value of Imperial Chemical Industries PLC, which it acquired for euro11.5 billion last year, and another euro200 million charge to integrate the company and cut jobs.
In September, Akzo said it will cut 3,500 jobs by 2011, representing around 12 percent of its work force.<more>
Engineering firm latest victim of credit crunch
A SPECIALIST engineering company has become the latest casualty of the credit crunch in South Tyneside.
Smart Coatings (NE) Ltd, based at Bedewell Industrial Park, Hebburn, which provided powder coatings for a range of metal products, has gone into voluntary liquidation.
Originally established in 1994, the company at one time employed up to 10 worADVERTISEMENTkers at its Hebburn site.
A slimmed-down version of the firm was launched just over two years ago, employing about five staff.
But administrators say the workforce had shrunk to just two by the time the firm went into liquidation on January 22
United Alloy announces cutback in production and layoffs
Another Rock County business is feeling the pinch of the economic downturn.
United Alloy CEO, Terri Roessler, says their biggest customer, Cummins Power Generation, announced they were laying off 15-percent of their production staff and ten-percent of their office staff. Roessler says Cummins represents about 50% of their business so they've had to make some adjustments.
Starting this week, they've eliminated their 3rd shift, froze wages, eliminated overtime, and went to a 32 hour work week, dictated by customer orders. 12 employees have been laid off, so far.
Roessler says she didn't think they would be affected by the global recession for another year to 18 months and says they've "hit a wall." This news after six straight months of record sales.
Roessler says the company will survive, but things aren't looking good right now.
United Alloy does custom metal fabrication and powder coating for the power generation industry
BASF to close Decatur, Ala., plant
DECATUR, Ala. (AP) - BASF Corp., is closing its plant in Decatur which will idle about 115 workers.
The German-based chemical manufacturer said Tuesday layoffs will start March 31. Employees were informed about the closing in September.
The facility is being closed because BASF has sold its coil and coating business to PPG Industries. The materials are used to coat roofs, siding and other products.
PPG said work at the Decatur plant will be moved to a facility in Pennsylvania.
|Seminar Events Exhibitions|
Las Vegas, Nev. For more information, visit www.thecoatingshow.com.
International Surface Finishing Academy Powder Coating Course,
Philadelphia, Pa. For more information, visit www.surfacefinishingacademy.com .
Minnesota Paint & Powder Coating Expo,
White Bear Lake, Minn. For more information, visit www.mntap.umn.edu.
CORROSION 2009 Conference & Expo
Atlanta, Ga. For more information, visit www.nace.org/c2009.
Missouri S&T Coatings Institute "Basic Composition of Coatings" Course,
Rolla, Mo. For more information, visit http://coatings.mst.edu
WESTEC 2009 Expo
Los Angeles, Calif. For more information, visit www.sme.org.
March 30-April 2
IPC APEX EXPO 2009
Las Vegas, Nev. For more information, visit www.IPCAPEXEXPO.org.
March 31-April 2
Aluminum Association 2009 Spring Meeting
Apr 20 - 22, 2009
San Antonio, TX
2009 IBSC Conference
Apr 26 - 29, 2009
Apr 26 - 29, 2009
Indianapolis, IN USA
2009 NASF Washington Forum
Apr 28 - 30, 2009
Asia Coatings Congress 2009
Apr 28 - 29, 2009
Ho Chi Minh City, Vietnam
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