Industry News (Week of May 21)
May 21, 2007
LORD Corp., Cary, NC, has announced the addition of a new MetalJacket custom coater, Wuxi Zhongjie Vibration Isolators Co. Ltd., which will help LORD Corp. customers meet the growing demand for MetalJacket coatings for both automotive and industrial applications.
Lyondell Chemical Co. and the National Titanium Dioxide Co. Ltd. (Cristal) have announced the signing of an agreement for a proposed sale by Lyondell of its worldwide inorganic chemicals business to Cristal in a transaction valued at approximately $1.2 billion, including the assumption of certain liabilities directly related to the business. Lyondell stated that the transaction would include a cash payment of $1.05 billion, and estimated its after-tax proceeds at $975 million.
MarChem Pacific, Orange, CA, has announced the addition of a bulk tank truck fleet as another component of its distribution system. MarChem Pacific, which is owned by DASH Multi-Corp., has seen sales volume rise substantially as it has extended its geographical reach and added new industrial accounts.
NSL Analytical Services, Cleveland, ahs announced plans to relocate its operations to a newly renovated, state-of-the-art facility at 4450 Cranwood Industrial Park, Warrensville Heights, OH. The move to the 30,800-square-foot building will enable NSL to consolidate all of its testing operations under one roof. It will also provide room to expand testing services to include: inorganic and organic chemistry; polymer testing; thermal analysis; metallurgical testing; material characterization, and more.
PCT Engineered Systems LLC has announced the completion of a new 40,000-square-foot facility in Davenport, IA. The Eastern Iowa Industrial Center (EIIC) will support the continued growth of PCT’s business, which was fueled by the acquisition of the BroadBeam® line of electron beam processors in 2003, and enable the company to achieve its strategic plan objectives.
Sartomer Co., Exton, PA, has announced a corporate restructuring designed to enhance global customer support for companies with multinational operations. Sartomer will now operate with three geographical sales regions (Americas, Europe and Asia), five central operating functions (Supply Chain, Human Resources, Manufacturing, Technology, and Finance) and two global business units (Photocure and Functional Additives).
Solutia Inc., St. Louis, MO, has expanded its distributor sales contract for Butvar® PVB resins and aqueous dispersions with Dowd and Guild Inc., San Ramon, CA, to include the states of Utah, Colorado, Oregon, Washington, Idaho, Montana, Wyoming and New Mexico. Dowd and Guild currently represents Solutia’s Specialty Additive products in California, Arizona and Nevada, and manages the order fulfillment of Butvar PVB resins from its warehouse in City of Commerce, CA.
Trelleborg Emerson & Cuming Inc. recently announced the opening of a new corporate headquarters, manufacturing and research facility in Mansfield, MA. The state-of-the-art, 81,000 square-foot plant with a 5,000 square-foot R&D Center produces syntactic foams, extrusions, Eccospheres® glass microspheres, macrospheres, coated glass and ceramic microballoons and Syntac® machinable materials. The products are widely used in the fabrication of advanced composite parts, adhesives, signature management systems and tooling for aerospace, defense, marine and industrial applications.
Univar N.V., Rotterdam, The Netherlands, has announced that its U.S. subsidiary, Univar USA, has entered into an agreement to acquire 100% of the shares of Chemcentral Corp. for approximately $600 million in cash, including assumed debt. On a pro forma basis, combined consolidated revenues for Univar N.V. and Chemcentral for 2006 would have been approximately $8 billion, solidifying Univar’s position as a leading worldwide distributor of industrial chemicals. The transaction is expected to be accretive to earnings in the first full year of ownership.