NEWS
Dow aims for $1bn in savings
US chemical company Dow has announced targeted actions to deliver $1bn in cost savings, including a global work- force reduction of approxi- mately 1,500 roles. The initiative is designed
to reduce Dow’s costs in response to ongoing macroeconomic uncertain- ty and weaker-than-expect- ed demand in key markets, including packaging and specialty plastics, while reinforcing its long-term competitiveness. “While these decisions
are difficult, we must continue to take proactive actions to reduce costs while we navigate through this ongoing slower-than- expected macroeconomic recovery,” said Jim Fitterling, Dow chair and CEO. “As 2025 progresses we will continue to evaluate options to reinforce our competitive- ness and take further action if necessary.” The workforce reduc- tion follows a similar cost-cutting initiative in 2023 when the company eliminated 2,000 jobs to address economic uncertainty and comes amid reports of a Q4 2024 net loss of $435m against a $95m loss in the same period in 2023. The company said it will
record a charge of $250m to $325m in the first quarter of 2025 for costs associated with the plan. �
www.dow.com
6
Piovan opens new base in Asia-Pacific region
Italian company Piovan has invested €10m in a new facility in Suzhou, China, to boost its position in the Asia-Pacific region in the development and produc- tion of automation systems for plastics processing, along with food powders and refrigeration solutions. “China is a market that
the Group has always believed in by opening its first production site outside Italy 20 years ago,” said PiovanGroup CEO Filippo Zuppichin. “We were convinced that China was becoming the manufactur- ing engine of the world. The facts and growth in recent years have confirmed this, and we are confident of future successes.”
Image shows new €10m facility in Suzhou, China The 15,000 m² premises
will provide equipment, consulting, training, and after-sales service to subsidiaries in the group’s APAC region, including Piovan Asia Pacific, Piovan Vietnam, Piovan Japan, Piovan Korea, Piovan
Indonesia, and Conair Asia in Taiwan and Singapore. The group said the
facility’s emphasis will be on innovation and develop- ment projects plus an ongoing commitment to sustainability. �
www.piovan.com
New owners for Mocom site
Polymer Solutions has acquired Mocom’s former recycling site in Erlenbach, Germany. The Krall Kunstst- off-Recycling subsidiary plans to use the existing recycling
Jörn Bahr, left, Managing Director of Polymer Solutions, and Louis Krall, authorised signatory of both Polymer Solutions and Krall Kunststoff- Recycling
lines, which have a total capacity of 5,500 tonnes/yr, to process polyamide from industrial sources and produce sustainable, high-quality recycled pellets
and regrind with a focus on transparent plastics such as polycarbonate and PMMA. It also specialises in technical plastics and the recycling of CDs.
“Our business partners will benefit from the many synergies resulting from the combination of the two companies,” said Managing Director Jörn Bahr. “Togeth- er with Polymer Solutions, Krall can offer the entire cycle from collection and grinding to the delivery of ready-to-use recyclates from a single source and meet the growing demands of the market.” �
https://krall.de
COMPOUNDING WORLD | January/February 2025
www.compoundingworld.com
IMAGE: POLYMER SOLUTIONS
IMAGE: PIOVAN
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