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Lanxess announces global investments; additional growth opportunities Thursday, March 11, 2010 Pittsburgh, PA -- Lanxess, a leading specialty chemicals company with North American headquarters in Pittsburgh, PA, announced Tuesday three new global investments that position the company for additional growth opportunities. In the last two years, Lanxess has reduced its direct climate gas emissions by more than 50 percent. From 2007 to 2009, annual emissions from the group’s plants were cut from 3.5 million to 1.5 million metric tons of CO2 equivalents. Emissions per metric ton of manufactured product have also fallen by almost half – from 0.56 to 0.3 metric tons of CO2 equivalents. The goal set for Germany of reducing climate gas emissions by 80 percent by 2012 compared to 2007 has already been reached today. Annual emissions fell from around 1.9 million metric tons of CO2 equivalents to less than 0.3 million metric tons. As part of the initiative, a total of EUR 25 million will be invested in new power plants. The Performance Butadiene Rubbers (PBR) business unit of Lanxess is considering the possibility of manufacturing ESBR-BMB (emulsion styrene-butadiene rubber black masterbatch) in the future in Brazil. Options for doing so at the production sites of Triunfo or Caxias are currently being examined. This step would serve to meet the growing raw material demands of the retread industry, which is especially strongly represented in North and South America. Eighteen million truck tires and 9 million bus tires get retreaded every year in these regions. Lanxess has decided to expand the global capacity of its high-performance rubber Neodymium Polybutadiene (Nd-PBR). The company said it will invest about EUR 20 million to increase production by an additional 50,000 metric tons per year at its sites in Dormagen, Germany; Orange, TX; and Cabo, Brazil. The capacities will go on stream between the first quarter of 2011 and first quarter of 2012. The expansion comes at a time when there is a strong demand for high-performance tires, surrounding new EU tire labeling legislation from 2012 to boost demand. - * Email ñ Top of the page ñ
Goodyear CEO receives pay package valued at $14 million Thursday, March 11, 2010 Akron, OH -- According to an article Wednesday in ohio.com, "The chairman and outgoing chief executive of Goodyear Tire & Rubber Co. received a pay package valued at $14 million in 2009, a 40 percent increase from the year before, according to an Associated Press formula of financial analysis of a regulatory filing. Robert Keegan's raise came mostly in his performance-linked bonus, which was more than double what he received in 2008. Goodyear's stock price also more than doubled in 2009, a year in which its sales slumped and it reduced its work force as demand for new tires fell in the struggling economy. The company's stock began 2009 at $5.97 and ended the year at $14.10. Shares closed down 4 cents Tuesday to $13.64." ... - * Email ñ Top of the page ñHexion reports fiscal year 2009 results Thursday, March 11, 2010 Columbus, OH -– Hexion Specialty Chemicals, Inc., has reported its results for the year ended December 31, 2009. The company reported revenues of $4.0 billion versus $6.1 billion in 2008, with lower volumes accounting for $1.1 billion of the decline, the contractual pass through of lower raw material costs reducing sales by $791 million and unfavorable foreign currency translation of $167 million. Operating income was $94 million versus an operating loss of $893 million in 2008. Full year 2009 results primarily reflected a reduction in terminated merger and settlement expense as Hexion recorded $1,027 million in terminated merger and settlement costs in 2008. Hexion’s operating income also reflected the improvement in its gross profit as a percentage of net sales, which increased to 13 percent in 2009 compared to 10 percent in the prior year period. The company posted net income attributable to Hexion Specialty Chemicals, Inc. of $92 million in 2009 compared to a net loss of $1,190 million in 2008, which reflected a $224 million gain on the extinguishment of $298 million in face value of outstanding debt securities and $81 million in decreased interest costs. Hexion recorded 2009 segment EBITDA of $385 million versus $461 million in 2008. - * Email ñ Top of the page ñDSM announces management changes Thursday, March 11, 2010 Heerlen, the Netherlands -- Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in the Netherlands, announced Monday the following management changes: Ben van Kooten (1951), at present business group director DSM Resins, will retire after a long and successful career at DSM of more than 35 years. He will be succeeded by Dimitri de Vreeze (1967), at present business unit director DSM NeoResins+. In this role he will report to Nico Gerardu, member of the DSM managing board. Dimitri de Vreeze will work together with Ben van Kooten through a transition period and will assume responsibility for DSM Resins at the beginning of the fourth quarter of 2010. Steve Hartig (1958), at present president, DSM Biomedical, will succeed Dimitri de Vreeze as business unit director DSM NeoResins+. In this role he will report to Dimitri de Vreeze. As announced earlier, Steve Hartig will be succeeded as president, DSM Biomedical, by Christophe Dardel (1960) as per May 15, 2010. - * Email ñ Top of the page ñKraton Polymers to increases SIS prices Thursday, March 11, 2010 Houston, TX -- Kraton Polymers LLC, a leading global producer of styrenic block copolymers, continues to experience significant raw material and energy cost increases. Accordingly, Kraton announces a general price increase in the Americas of 10 cpp or $220/ton for Kraton SIS and SIBS polymers and compounds across all markets and end-uses. Subject to the terms of any applicable contracts, these price increases will take effect April 1, 2010. - * Email ñ Top of the page ñTetra Pak reports growth in sales in 2009 Thursday, March 11, 2010 Tetra Pak today announced net sales of EUR 8.95 billion in 2009 - up 1.2 percent from 2008 in comparable terms. Packaging Solutions reached EUR 8.0 billion in net sales in 2009 - an increase of 1.8 percent over 2008, while sales of Processing Solutions declined 3.8 percent in comparable terms to EUR 917 million during this period. Double-digit growth in South and Southeast Asia, the Middle East and Sub-Sahara Africa drove the rise in Packaging Solutions’ sales, while East Europe and Central Asia were the most affected by the economic downturn, experiencing a 12.2 percent decline in net packaging sales year-over-year. The company supplies hundreds of different types of carton packaging. - * Email ñ Top of the page ñDow announces additional relief support for Haiti, plans for Chile Thursday, March 11, 2010 Midland, MI -- Dow Chemical Co. made public several support efforts that have been underway to assist the ongoing disaster recovery efforts in Haiti and Chile. The company has announced additional support of the Haiti earthquake response through its support of a relief mission which took place on March 6 and 7 to bring surgeons, medical supplies and clothing to those in need, and an initial financial contribution to relief efforts in Chile as well. As part of its continued support of Haiti relief efforts, Dow collaborated with several Boston-area hospitals and like-minded companies to bring more than $750,000 in donated medical equipment to those in need – specifically an anesthesia machine and other specialized surgical equipment – via a relief flight that took place this weekend from the U.S to Haiti. On its return flight to the U.S., the airplane transported more than 40 orphans who’ve been cleared for adoption by the U.S. State Department. - * Email ñ Top of the page ñCray Valley names new director of sales Thursday, March 11, 2010 Exton, PA -- Cray Valley has named Dallam (Ted) Blandy as its new director of sales. He is responsible for management of sales and customer service for the Americas. Blandy previously worked for 13 years with Schenectady International Inc. He was responsible for product management for electrical and rubber and adhesive resins and sales/general management for two plants. Blandy also served in sales and product management for Occidental Petroleum Corporation for 16 years. Cray Valley provides resins used as raw materials for adhesives, rubber and other applications. - * Email ñ Top of the page ñ |
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