2015 Plastics & Rubber News
Univar Acquires Polymer Technologies Ltd.
Univar Acquires Polymer Technologies Ltd. announced that its wholly-owned subsidiary, Univar Ltd. (“Univar”) has acquired all of the outstanding stock of Polymer Technologies Ltd., a U.K.-based developer and distributor of unique UV/EB curable chemistries used to formulate environmentally responsible paints, inks, and adhesives. “The acquisition of Polymer Technologies’ enhances our existing offering to several end markets with unique chemistries that enable formulation of environmentally friendly products where solvent-based systems are currently used,” said David Jukes, President, Univar EMEA, Latin America, and Asia.
About Polymer Technologies:
Founded in 2001, Polymer Technologies offers unique UV/EB-curable oligomers and monomers that deliver performance benefits in a diverse range of applications including printing inks, wood coatings, plastic finishes, laminates, overprint varnishes, and adhesives. The company also serves as the sole U.K. distributor for Asia’s largest manufacturer of UV/EB curable products and provides a comprehensive range of high-quality and high-purity reactive diluents and oligomers.
About Univar Inc.:
Founded in 1924, Univar is a global distributor of specialty and basic chemicals from more than 8,000 producers worldwide. Univar operates more than 700 distribution facilities throughout North America, Western Europe, the Asia-Pacific region, and Latin America, supported by a global network of sales and technical professionals.
Source: Univar Press Releases, 17 December 2015
DuPont and Dow to Combine in Merger of Equals
The Dow Chemical Company ("DOW") announced that their boards of directors unanimously approved a definitive agreement under which the companies will combine in an all-stock merger of equals. The combined company will be named DowDuPont and will reportedly have a combined market capitalization of approximately $130 billion. DowDuPont will spin off into three autonomous and publicly traded companies, reportedly within 18-24 months following the closing of the merger.
The companies will include a leading global Agriculture company; a leading global Material Science company; and a leading technology and innovation-driven Specialty Products company.
In 2014, Dow had annual sales of more than $58 billion and employed approximately 53,000 people worldwide. The Company's more than 6,000 products are manufactured at 201 sites in 35 countries across the globe.
DuPont, is an American chemical company. In 2014, DuPont was the world's fourth largest chemical company based on market capitalization and eighth based on revenue. It has annual sales of more than $35 billion and employes approximately 64,000 people worldwide (2013).
Source: Dow Press Release, Dec. 11, 2015
Dow Announces Transaction to Restructure Ownership of Dow Corning Corporation
The Dow Chemical Company announced the signing of definitive agreements to restructure the ownership of Dow Corning Corporation. The transaction offers significant potential to enhance value for shareholders. Under the terms of the agreement, Dow will become the 100 percent owner of Dow Corning, currently a 50:50 joint venture between Dow and Corning.
About Dow Corning:
Dow Corning is a global leader in silicones, silicon-based technologies. It is equally owned by the Dow Chemical Company and Corning, Incorporated. More than half of Dow Corning’s annual sales are outside the United States.
Source: Dow Corning News, Dec. 11, 2015
Solvay launches € 1.5 billion rights issue in the context of the intended Cytec acquisition
Solvay announces the launch of a rights issue of € 1.5 billion to complete the financing of the intended acquisition of U.S.-based Cytec, which is expected to close on December 9, 2015. The acquisition will significantly boost Solvay’s portfolio of advanced materials with lightweighting solutions for the aerospace and automotive industries, and will furthermore strengthen its formulations know-how in mining chemicals. With Cytec, Solvay will accelerate its transformation to achieve higher growth, returns and resilience.
Solvay S.A. is a Belgian chemical company founded in 1863, with its head office in Neder-Over-Heembeek, Brussels, Belgium. Its products serve diversified markets worldwide including consumer chemicals, advanced materials, performance chemicals, and functional polymers.
Cytec Industries Incorporated is based in Woodland Park, New Jersey. It produces speciality chemicals and materials, including resins, plastics, and composite materials, especially for the aerospace industry and other users of specialty materials.
Source: Solvay Press Release, December 3, 2015
Solvay Celebrates the Inauguration of Its New Tecnoflon® FKM Changshu Plant
Solvay Speciality Chemicals inaugerates its Tecnoflon plant in Changsu, China on November 10. The investment is an important move for Solvay to strengthen its position in China and to serve local customers with stronger supply capabilities. Tecnoflon® FKM which resists aggressive chemicals and operating temperature of more than 250°C and is easy to process with various different molding techniques.
Source: Solvay Press Release, November 10, 2015
AVINTIV Joins Berry Plastics
On October 1, 2015, Berry Plastics Group, Inc. completed its acquisition of AVINTIV Inc. from private equity funds managed by The Blackstone Group LP.
The aquisition of Avintiv will strengthen Berry Plastics market position as a global leader in plastics packaging and engineered specialty materials.
Avintiv makes materials used in products ranging from diapers to disinfectant wipes. It has 23 locations in 14 countries and supplies to many of the consumer and industrial product manufacturers that Berry Plastics supplies to.
About Berry Plastics:
Berry Plastics is a leading global manufacturer of plastic packaging products. It manufactures and markets a large number of plastic packaging products, including open top and closed top packaging, PE-based plastic films, industrial and duct tapes, medical specialties, heat-shrinkable coatings, and specialty laminates.
Source: Berry Plastics Press Release, October 1, 2015
Kraton Performance Polymers Agrees to Acquire Arizona Chemical Holdings Corporation
Kraton Performance Polymers, Inc., a global producer of highly-engineered polymers, anounced that it has entered into a definite agreement to acquire all of the capital stock of privately held Arizona Chemical Holdings Corporation for a purchase price of $ 1.37 billion.
About Arizona Chemical's:
Arizona Chemical's is a leading global producer of high-value performance products and speciality chemicals derived from non-hydrocarbon, renewable raw materials.
About Kraton Performance Polymers:
Kraton Performance Polymers, Inc., through its operating subsiddiary Kraton Polymers LLC and its subsidiaries, is a leading global producer of engineering polymers and one of the largest producers of styrenic block copolymers, a chemistry that was pioneered by Kraton 50 years ago.
Source: Arizona Chemical Press Release, September 28, 2015
LANXESS and Saudi Aramco create world-leading joint venture for synthetic rubber
The specialty chemicals company LANXESS and Saudi Aramco plan to establish a joint venture for synthetic rubber detailed in an agreement signed on September 22, 2015. LANXESS and Saudi Aramco subsidiary, Aramco Overseas Company, will each hold a 50 percent interest in the joint venture, with annual sales of approximately three billion Euro in 2014. Saudi Aramco is to pay approx. EUR 1.2 billion in cash for its 50 percent share after deducting debt and other financial liabilities. The total joint venture is valued at EUR 2.75 billion. The joint venture brings together the world’s largest producer of synthetic rubber and the world’s largest oil and energy producer to form a far-reaching strategic partnership
Source: Lanxess Press Release, September 22, 2015
Former Bayer Material Science now legally and economically independent
One of the world’s leading polymer materials suppliers has a new identity. From September 1, 2015 Bayer MaterialScience is operating under the Covestro name. The company is now legally and economically independent, but will remain a 100 percent subsidiary of Bayer AG.
With 2014 sales of EUR 11.7 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of hightech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and sports and leisure industries. The Covestro group has 30 production sites around the globe and employed approximately 14,200 people at the end of 2014. Covestro, formerly Bayer MaterialScience, is a Bayer Group company.
Source: Bayer Press Release, September 1, 2015
Coveris Acquires Olefinas and Elldex
Coveris, a global packaging company, announced the acquisitions of OLEFINAS, a leading agricultural plastics company in Latin America, and ELLDEX, a full-service flexible packaging company in New Zealand. These acquisition will enable Coveris to expand globally into Australasia and Central and South America.
In May 2013, Britton Group, Paccor, Paragon, Exopack, and Kobusch merged to the 6th largest global plastics packaging company and are now conducting business under the trademarked Coveris name. Coveris produces both rigid and flexible plastic with a turnover of more than $2.5bn.
Source: Coveris Press Release, May 28 and June 17, 2015
PGI Rebrands, Now Called AVINTIV
PGI announced that it has begun to rollout a new corporate brand and identity that aligns with its commitment to developing and delivering high-impact solutions for its customers. The Company is changing the name of its parent company from PGI Specialty Materials, Inc. to AVINTIV Inc., as the first step in a broader identity transformation.
Avintiv is one of the world's largest international nonwoven fabrics and product innovation groups. It Produces specialty materials used in infection prevention, personal care and high performance solutions.
Source: Avintiv Press Release, June 4, 2015
BASF inaugerates new plant for high performance Ultramid® in China
BASF inaugerated ints new Ultramid (polyamide 6 and 6.6) polymerization plant at Shanghai, China. The new plant, with a capacity of 100,000 metric tons per year, will further strengthen BASF's
local production and better serve the growing market in China.
The demand for polyamide products in the engineering plastics, fiber and film industries will continue to grow strongly, particularly in China. "With the local production facility, we are well-positioned to support our customers’ strong growth and help them to develop innovative products for tapping into market opportunities,” said Dr. Albert Heuser, President Functions Asia Pacific, President and Chairman Greater China, BASF.
Source: BASF Press Release, May 6, 2015
Kuraray expands into bio-based barrier materials
Kuraray expands into bio-based barrier materials through the acquisition of Plantic. The acquisition of Plantic enables Kuraray to provide barrier materials which meets the increasing global demand of biobased food packaging materials.
Kuraray was the first to commercialize the high-performance barrier resin, EVAL (ethylene vinyl alcohol copolymer), which it launched in 1972. EVAL boasts the highest level of gas barrier properties of all plastics and is the market leading barrier resin used in food packaging and industrial barrier applications.
Kuraray is the world leader in the commercialization of PVA (Poval) fiber which it sells under the Kuralon brand. It is also a major producer of isoprene, high-performance elastomers and methacrylates.
Source: Kuraray Press Release, April 8, 2015
A. Schulman Acquires Citadel Plastics for $ 800 Million
A. Schulman,a leading international supplier of high-performance plastic compounds, powders and resins,
announced that it has executed a definitive agreement to acquire all of the issued and outstanding capital stock of privately held Citadel Plastics Holdings, Inc.
(a specialty engineered plastics company) for $800 million.
"Citadel enhances our thermoplastics platform and will create a more attractive and sustainable business by regionally extending our thermoplastic portfolio in areas such as flame retardants and thermoplastic blends," stated Bernard Rzepka President and CEO.
Source: Schulman Press Release, March 16, 2015
Armacell Acquires Industrial Thermo Polymers (ITP) Canada
Armacell, a leader in flexible foams for the equipment insulation market and a leading provider of engineered foams acquires the business of Industrial Thermo Polymers Limited (ITP) – a leading Canadian manufacturer of extruded polyethylene (PE) foam products
Source: Armacell Press Release, March 4, 2015
Arkema Finalizes the Acquisition of Bostik
Arkema finalized the acquisition of Bostik (Total S.A.), the world’s no. 3 in adhesives, on 2 February. With this acquisition, the group reaches a new milestone in its development, and confirms its ambition to become a world leader in specialty chemicals and advanced materials. Bostik’s growth prospects and the complementarities identified between the two groups will sustain the success of this high value creating project.
With the acquisition of Bostik, the new entity achieves sales of around €7.6 billion and employs some 19,000 people around the world.
Source: Arkema Press Release, February 3, 2015