news
Report says Solvay may sell its PA business
Belgian newspaper De Tijd has reported last month that Solvay is planning to sell its polyamide (PA) business and has invited Goldman Sachs to find a buyer among both financial and industrial players. The company has not
commented on the rumours although CEO Jean-Pierre Clamadieu did say in 2014 that a possible sale was under consideration prior to a cost-cutting restructuring. The PA business is the
largest part of Solvay’s Functional Polymers division, which generated sales of €1.16bn for the first three quarters of the current financial year. This was a fall of 10% on the same period of the previous year, though recurring EBITDA was 24% up at €119m. Solvay’s group portfolio has seen considerable change of late, the most recent the result of the company's acquisition of composites and mining chemicals specialist Cytec Industries in late 2015. ❙
www.solvay.com
PolyOne buys key Kraton TPE assets in $72m deal
PolyOne has acquired some of the thermoplastic elastomer (TPE) assets of Kraton Performance Polymers in a $72m deal. The acquired assets serve
applications including packaging, medical devices and personal care products, plus the high growth area of adhesive and removable protective films. As part of the agreement, Kraton will continue to supply the styrenic block co-polymer raw materials to PolyOne. PolyOne CEO Robert
Patterson described the acquisition as “a win for our customers as we make this investment for their product design, development and performance goals”. He added: “We will accelerate growth in this business by doing what we do best, creating unique formulations for our custom- ers’ advantage. This acquisi- tion will be immediately accretive to PolyOne’s earnings.” PolyOne has spent heavily
to grow in TPEs since it acquired GLS Thermoplastic Elastomers in 2008, both in terms of new applications and geographical markets. Buying
The Kraton assets will expand PolyOne’s reach in key TPE application areas
PolyOne CEO Robert M Patterson
the Kraton assets will, Patterson said, allow the firm “to grow globally with new customers and core applica- tions. It also expands our reach into applications such as protective films used in transportation, appliances and electronics”. l The Kraton deal was announced the same day PolyOne reported its Q4 and end-of-year results. Revenues for 2015 came in at $3.4bn against $3.8bn in 2014 due to the combination of unfavour- able foreign exchange and lower selling prices in its Distribution and Performance
Products and Solutions. However, full year adjusted earnings per share hit an all time high of $1.96, up by 9%. “We overcame difficult
macro-economic conditions and challenges from the ongoing integration of the former Spartech businesses to achieve our 25th
consecutive
quarter of year-over-year adjusted EPS growth,” said Patterson. “During these uncertain global economic times, we remain focused on what we can control - execut- ing our proven strategy and serving our customers.” ❙
www.polyone.com
Polyplastics to expand Malaysian facility
Japan’s Polyplastics is to expand the engineering plastics compounding plant operated by its Polyplastics Asia Pacific (PAP) subsidiary in Kuantan, Malaysia, adding an extra 9,000 tonnes/year of production capacity for Duracon POM and
www.compoundingworld.com
Durafide PPS compounds. The move takes capacity at the site to 35,000 tonnes and lifts the group's total capacity across its sites in Japan, Taiwan and China to 150,000 tonnes. The expansion is scheduled for
commercial operation in June 2017. Polyplastics said it foresees demand increasing at the Kuantan location as Japanese companies continue to move operations into the Asia-Pacific region. ❙
www.polyplastics.com
February 2016 | COMPOUNDING WORLD 5
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