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BASF inaugurated its newest production plant in Poland

Wednesday, July 23, 2014

Ludwigshafen, Germany – BASF inaugurated its new production plant for mobile emissions catalysts in Sroda Slaska, a Special Economic Zone near Wroclaw, Poland. The grand opening event was attended by a number of national and local government officials, including Polish Vice Minister of Labor and Social Policy Jacek Mecina, as well as BASF board member Dr. Hans-Ulrich Engel. Construction of the new 40,000 square meter manufacturing facility, BASF’s largest emissions catalysts plant in Europe, began in late 2012, supported by an initial €90 million investment. The plant began production trials in April 2014, and last month started up two emissions catalysts manufacturing lines, with an initial employee base of 100. Additional expansions will follow, raising the total investment for the plant to approximately €150 million. Once all ten planned light duty and heavy duty catalysts production lines are operating at full capacity by 2016, BASF expects to employ more than 400 people at the Sroda Slaska site. The emissions catalysts produced in Sroda Slaska will be used by manufacturers of light duty gasoline vehicles and light and heavy duty diesel vehicles to meet more stringent Euro 6/VI emissions regulations. “The launch of this new production plant provides a vital addition to our global manufacturing network for innovative automotive emissions control technologies,” said Kenneth Lane, President of BASF’s Catalysts division. “Tightening emissions regulations will be a key growth driver for our business. Our investment in Sroda Slaska will provide the capacity we need to meet increased customer demand in the most efficient way possible.” Among the advanced technologies that will be produced at the Sroda Slaska facility are Selective Catalytic Reduction (SCR) systems, cutting-edge SCR on Filter (SCRoF) solutions as well as PremAir-branded ozone destruction catalysts for automotive applications. “Due to its attractive location and its positive economic development, Poland is an attractive place for BASF to invest,” said Dr. Joachim Meyer, Head of BASF Business Center Europe Central. “This new facility strengthens our position as a supplier of innovative solutions to the markets of Central Europe. - * Email

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RheinChemie

Indian rubber growers ask for suspension of imports

Wednesday, July 23, 2014

Kochi, India - The Hindu Business Line reports, "The Indian Rubber Growers Association has asked the center to suspend rubber imports, considering the fall in prices. When the prices fell in 1999, the government had stopped imports under advance licence scheme through a notification. A similar situation has arisen now and the government should act accordingly until the prices improve, Sibi J. Monippally, president of the association, said. In a memorandum submitted to the Commerce Ministry, he urged the government to increase the import duty of rubber to 40 percent beyond the domestic requirement and restrict the imports to end users only. He pointed out that in 2013-14, imports were to the tune of 3 lakh metric tons against 2.14 lakh metric tons the previous year. Production and consumption of rubber is almost balanced with output at 9.3 lakh metric tons and consumption at 10 lakh metric tons. The requirement by 2020 will be 15 lakh metric tons. To attain this goal, he suggested sustainable development of production with the support of farmers." - * Email

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McLube

Goodyear's newest airship to be named Wingfoot One

Wednesday, July 23, 2014

Akron, OH - Wingfoot One has been selected as the name for The Goodyear Tire & Rubber Company’s newest airship, the company announced. Wingfoot One was selected from nearly 15,000 names submitted in an on-line public contest that started four months ago. A panel of Goodyear judges narrowed the submissions to 10 finalists before a final round of public voting determined the name of the newest addition to the Goodyear fleet of airships. With nearly 35 percent of the public vote, Wingfoot One received the most votes of the 10 finalists, and will take its place in Goodyear airship history as the name connected with the first of a new generation of state-of-art airships. Wingfoot One was submitted by Akron resident Charlotte White, who will receive a day of activities with Wingfoot One. The other nine finalists who submitted names will receive a set of Goodyear tires. “Seventy six years of living in Akron and I never got to ride on the blimp,” said White, whose stepfather retired from Goodyear. “I'm just thrilled to win the contest. I never thought it could happen. I can't wait to ride it.” Goodyear’s use of the Wingfoot trademark dates back to 1901 when the company first used it in advertising to promote the launch of its new Straight Side tire. Inspired by a statue of the Roman god Mercury in his home, Goodyear co-founder Frank Seiberling conceived of the idea of using the Wingfoot trade mark as a symbol of the company’s global ambitions. “The Wingfoot symbol has played a prominent role in defining the Goodyear brand for more than a century,” said Paul Fitzhenry, senior vice president, global communications. “The name Wingfoot One makes an ideal connection between our trusted, global brand and our iconic airships.” The new blimp is in the final stages of flight testing and will be officially christened in a ceremony to be held next month. After the christening, Wingfoot One will travel the United States and take its place as a fixture over the country’s biggest sporting, news and entertainment events. Wingfoot One is a semi-rigid, Zeppelin model LZ N07-101 assembled at Goodyear’s Wingfoot Lake airship hangar. During its long operational history, Goodyear has built more than 300 lighter-than-air vehicles, including two large rigid airships, the U.S.S. Macon and U.S.S. Akron. This is the first semi-rigid airship to be built in the 95-year history of Goodyear’s Wingfoot Lake hangar. The new airship model replaces the previous “GZ-20A” model that flew for 45 years. Since 1925, the Goodyear blimps have appeared at the most watched news, entertainment and sporting events around the world. The blimps also heavily support local and national charities, and community emergency response programs. - * Email

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PolyOne reports second quarter results

Wednesday, July 23, 2014

Cleveland, OH - PolyOne Corporation reported its second quarter results. As expected and to drive earnings growth, the company continued to exit certain unprofitable products associated with the Spartech acquisition completed in March of last year. Accordingly, revenues were $1.01 billion for the second quarter of 2014, compared to $1.04 billion in the second quarter of 2013. These actions, coupled with other ongoing initiatives to expand margins, resulted in a 38 percent increase in adjusted earnings per share to $0.51 for the second quarter of 2014, up from $0.37 in the second quarter of 2013. Recently announced asset realignment actions taken in Brazil led to higher restructuring costs this quarter. As a result, GAAP earnings per share totaled $0.33 for the second quarter of 2014 versus $0.39 in the second quarter of 2013. "I am pleased to report adjusted earnings per share increased 38 percent to $0.51 for the second quarter representing an all-time high for PolyOne," said president and chief executive officer Robert M. Patterson. "This marks our 19th consecutive quarter of year-over-year double-digit adjusted EPS growth, an impressive accomplishment reflecting the power and sustainability of our strategy." Patterson added, "Mix improvement continues to be at the heart of our transformation as our specialty businesses reached record levels of operating income and profitability for the quarter. Driven by an expanding portfolio of specialty solutions, our underlying mix of earnings has never been stronger with specialty now contributing two-thirds of our segment income." "Our strong track record of converting earnings to cash continued this quarter as we generated $100 million of free cash flow," said executive vice president and chief financial officer Bradley C. Richardson. Richardson continued, "We ended the quarter with $261.5 million in cash. This, coupled with our availability under our asset-based revolver, gives us significant capacity to invest in innovation, aggressively pursue acquisition opportunities and deliver cash to shareholders. During the quarter, we repurchased approximately 1.8 million shares at an average price of $38.15, bringing the total share buyback since early 2013 to 8.2 million shares." Commenting on the company's outlook, Patterson said, "We are very pleased with our first half performance in 2014 and the underlying momentum and strength of our earnings growth. While our second quarter is seasonally our strongest, we expect to deliver strong year-over-year double-digit EPS expansion for the balance of 2014. With a growing pipeline of new and differentiated solutions, we are very confident in our ability to continue to create value for our customers and deliver market-beating performance for our shareholders." - * Email

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Munson Machinery to expand headquarters

Wednesday, July 23, 2014

Utica, NY - Munson Machinery is expanding the size of its Utica, NY, headquarters by approximately one-third, it was announced by Charles Divine, president and CEO. “The expansion will boost our fabrication and assembly capabilities to increase production and reduce lead times,” says Divine, “and permit reorganizing of existing manufacturing space to improve work flow and efficiency. It will also allow us to increase the size of our test lab.” The additional space includes an expanded assembly area with 22 ft (6.7 m) high bays and two bridge crane systems to accommodate larger machines, a new shipping and receiving area with loading dock, and space for a new water jet, sheet metal rollers and additional welding centers. The test lab facility, where customers are invited to test their materials on full-sized Munson equipment, will double in size, allowing multiple tests to be conducted concurrently. The expansion of the Utica location, which also houses the administrative offices for worldwide sales and marketing, will be completed in July 2014. - * Email

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Custom molded thin walled diaphragms from Minnesota Rubber

Wednesday, July 23, 2014

Minneapolis, MN - Minnesota Rubber & Plastics announces the creation of thin-walled diaphragms for medical devices that require high strength and flexibility. Utilizing liquid silicone rubber (LSR) processes, custom design and injection molding, design function and cost efficiency are improved. Used in a broad range of healthcare related applications, including dispensing, fluid filtration and fluid purification systems, thin-walled diaphragms are a pivotal part of many medical product designs. These seal applications require long term seal life because temperature variation and resistance to aging are extremely important in medical devices. Uninterrupted operation for extended periods is also extremely important. - * Email

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Tour de France leaders ride Continental tires

Wednesday, July 23, 2014

Hanover, Germany - With the Alps now behind them, the leaders of the five teams using Continental tires in this year's 101st Tour de France are well positioned for top placings. With one rider currently in a podium position, two riders in the first five and four riders in the top 15, things are looking good. The first two weeks of the three-week race are now completed as the riders enjoy their second rest day in Carcassonne, a brief respite for them before they head up into the Pyrenees on Monday and fight it out in the time trial on the penultimate day of the race. The pro riders on the Lotto-Belisol, Lampre-Merida, Movistar, Orica GreenEdge and BMC Racing teams have certainly made their presence felt, and not just in the general classification. They have also had some spectacular stage wins. The tough Alpine stages, with the race passing its highest point on Saturday, really sorted things out in the race's overall "general classification". Several top riders have already had to abandon the Tour, including potential Tour winners. The Tour de France is always full of drama and incidents, but this year has seen several Tour favorites involved. - * Email

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