Sales showed a 5% increase over 2Q for the manufacturer and marketer of adhesives, sealants, paints and other specialty chemical products.
Latest In Chemicals & Plastics Distribution
The acquisition of the Findlay, OH, custom mixing plant expands Robbins’ offerings of custom rubber mixes.
The Saint-Gobain Group, Courbevoie, France, reported sales for the first half of 2009 were €18.7 billion (US$26.6 billion), down 15.5% from the first half of 2008. Profit declined 88.1% to €128 million (US$182.2 million).The group saw negative organic growth of 15.5% for the period.
All of the group’s business sectors posted declines.
The continued decline of both construction and industrial markets in the US and Western Europe, as well as in most Asian and emerging countries, contributed to the steep declines in Building Distribution and Construction Products.
Sales in the Construction Products segment declined 15.3% on a like-for-like basis. Increased prices failed to offset the continuing fall in sales volumes, particularly in Interior Solutions, which fell …
Zep Inc., Atlanta, GA, a producer, marketer, and service provider of cleaning and maintenance solutions, reported sales of $123 million for the third quarter ended May 31, 2009, down 15.3% from the prior year. Profit improved to $5.4 million from $168,000 for third quarter of fiscal year 2008; third quarter 2008’s results included restructuring and special charges of $5.9 million.
For this first nine months, sales were $366.7 million, down 13.1%. Profit declined 65.1% to $2.9 million.
Weak customer demand across a number of end-markets and high raw material costs negatively impacted the overall results.
"However, our restructuring and cost reduction measures have gained additional traction, and our third quarter gross profit margin exceeded that of the second quarter by 2.7 …
Editor’s Note: Mel Ettenson, editor of Global Plastics Letter (www.globalplasticsletter.com), will be contributing regularly to the MDM Blog on topics of interest to the plastics industry and those connected to it.
Bayer MaterialScience AG, a producer of polymers and high-performance plastics, has developed a coating for its Makrolon polycarbonate (PC) sheet material making it suitable for use in automotive glazing. Having just passed a major Taber abrasion test after running through a commercial car wash once a week for three years, its use in automotive sun roofs, followed by side window glazing, is assured. Windshield applications could follow.
This breakthrough technology will offer immense weight savings and thus significant fuel efficiencies since PC …
Plastics industry veteran Mel Ettenson, publisher of Global Plastics Letter, will start to post occasional contributions to the MDM Blog based on his most recent issue or other happenings in the plastics industry.
Below is a quick interview I conducted with him to introduce him to MDM readers. His newsletter can be found at www.globalplasticsletter.com.
MDM: What is your history in the plastics industry?
Ettenson: I have been in the plastics industry for almost 50 years. Starting with several manufacturing companies in the plastics composites sector and then into marketing and distribution with several global plastic semi-finished shapes distributors including …
Zep Inc., producer of cleaning and maintenance products, reported a net loss of $0.9 million in the second quarter fiscal 2009.
Sales were at $114.6 million in the second quarter, down 13.9% from the prior-year period.
The company reported weakened demand in most markets – management estimated that about 70 percent of the 14 percent decline in quarterly sales volume was attributable to the global economic slowdown, with the remainder due to reduced selling capacity resulting from the elimination of underperforming sales representatives and other demand-shaping initiatives.
Sales in the first half fiscal 2009 were $243.8 million, down 11.9 percent from the prior-year period. The company reported a net loss of $2.5 million, versus $8.2 million …
MAPEI, Deerfield Beach, FL, a manufacturer of adhesives for the building sector, has acquired All-Purpose Adhesive Company, Dalton, GA. APAC manufactures environmentally friendly adhesives for the installation of floor-covering materials such as resilient flooring, carpet, ceramic tiles and vinyl composition tiles. APAC will be incorporated into the MAPEI Group.
This acquisition is in line with our long-term strategy, said Giorgio Squinzi, CEO of MAPEI Group. “We pursue organic growth in all markets, while considering interesting acquisitions whenever possible. Through the acquisition of the APAC assets, we gain a reliable industry brand that exhibits innovative technology, consistent product quality and strong performance.”
MAPEI …
H.B. Fuller Company, St. Paul, MN, has agreed to acquire Nordic Adhesives, a developer and manufacturer of flexible packaging adhesives based in Buxtehude, Germany. Nordic had sales of US$9 million in 2008.
Nordic has a strong product portfolio in the flexible packaging market and a solid presence in northern Europe. This acquisition will complement our existing product line, enhances our applications knowledge, and will enable us to extend our reach in this highly attractive $1 billion segment of the adhesives industry, said Michele Volpi, H.B. Fuller president and CEO.
“With Nordic, we can capitalize upon our global footprint and more quickly develop a more meaningful presence in this desirable market.”
H.B. Fuller …
A. M. Castle & Co., Franklin Park, IL, a global distributor of specialty metal and plastic products, reported sales for 2008 were $1.5 billion, an increase of 5.7% over 2007. A loss of $17.1 million was recorded for the year, compared to net earnings of $51.2 the prior year.
For the fourth quarter, sales were $321.5 million, comparable to the $322.1 million in the fourth quarter of 2007. The distributor reported a fourth quarter loss of $53.6 million, as compared to a profit of $6.7 million in the prior year quarter.
In 2008, we made progress on our key initiatives that we believe are vital to the long-term growth and profitability of the Company. Our focus on continued global expansion through the acquisition of Metals UK Group and the opening of …
Batavia, OH-based Milacron Inc., a global supplier of plastics-processing technologies and industrial fluids, has reached an agreement to sell the company to investors. The agreement with Avenue Capital Group and DDJ Capital Management LLC, who jointly own 78% of the company’s 111/2% Senior Notes, is intended to permit Milacron to continue operations with substantially less debt.
Milacron also voluntarily filed for Chapter 11 bankruptcy protection in order to implement the restructuring while continuing global operations. Despite aggressive cost reduction and ongoing capacity rationalization over the past several years, the ongoing credit crisis and deteriorating global economic conditions have severely reduced sales. The filings include Milacron’s Canadian and …
Pelican Products, Inc., Los Angeles, CA, a manufacturer of plastic injection molded protective cases, has acquired Hardigg Industries, South Deerfield, MA, a manufacturer of roto molded protective cases. The Hardigg brand name will continue to identify the company’s high-end roto molded shipping cases, leveraging brand recognition.
Pelican Products was supported in the acquisition, valued at about $200 million, by the New York and San Francisco based private equity group Behrman Capital.
Collectively the new entity will employ more than 1,500 employees in 12 countries. …
Milacron Inc., Cincinnati, OH, global supplier of plastics-processing technologies and industrial fluids, reported a net loss for the quarter ended Sept. 30, 2008, of $2.6 million, compared with a net loss of $4.5 million in the prior-year period.
Sales in the most recent quarter were $195 million, down 4%. New orders of $191 million declined 6%, reflecting lower demand for plastics processing equipment in the automotive and construction industries in North America.
Machinery Technologies-North America sales in the quarter were essentially flat versus the same period last year at $92 million, as depressed U.S. automotive and construction markets dampened sales of injection and extrusion equipment. Sales of blow molding systems improved, as did injection …
The Saint-Gobain Group, Courbevoie, France, reported sales €33.4 billion (US$43.1 billion) for the first nine months of 2008, an increase of 2.5% from the prior year same period. The group saw organic growth of 2.8%.
All of the Group’s business sectors saw a rise in like-for-like sales over the first nine months of 2008.
The residential construction market in the U.S. benefited from a momentary rebound in renovation businesses related to siding and roofing products. In western Europe, business tailed off in the third quarter with a deceleration in volumes in most countries and a recession taking hold and intensifying in Spain and the UK. Overall, demand related to industrial output and capital spending remained steady in both Europe and the U.S. …
Saint-Gobain Performance Plastics, Aurora, OH, has acquired the assets of The Green Glue Company of West Fargo, ND, a manufacturer of visco-elastic soundproofing technology. Visco-elastic materials combine the properties of viscosity and elasticity to provide performance characteristics ideal for special acoustical insulation.
Green Glue supplies products to global construction customers. Saint-Gobain Performance Plastics plans to integrate the Green Glue business into its Foams business unit. Saint-Gobain says the transaction will allow it to strengthen its offerings to residential and commercial markets.
The Green Glue products will continue to be marketed under the Green Glue brand.
Saint-Gobain Performance Plastics, part of Saint-Gobain’s …
Zep Inc., Atlanta, GA, announced the launch of its new Zep Professional product line focused on the industrial distribution market, and new agreements with industrial distributors that serve targeted market segments.
By focusing on the voice of the customer, it became clear that nearly 40% of the U.S. customer base prefers the services that industrial distributors have to offer,” commented John K. Morgan, president and CEO. Both announcements go towards achieving Zep’s goal of obtaining 10% to 15% of its revenue of sales through industrial distributors.
The new product line focuses on a variety of markets, including manufacturing, hospitality, government, health care, schools and food service.
Zep has also secured new agreements with W.W. Grainger, …
Monomoy Capital Partners, L.P., a New York private equity fund, has received final bankruptcy court approval to acquire the molded products group of Atlantis Plastics, Inc. for $23.1 million in cash and the assumption of $7 million in liabilities.
The Atlantis molded products group is a $110 million manufacturer of custom plastic components for the appliance, recreational vehicle, building products and automotive industries. The division’s largest customer is Whirlpool, Inc., manufacturer of home appliances in North America.
Monomoy will combine the Atlantis molded product group with its recent acquisition of L&P Plastics from Leggett &Platt to form a diversified custom molding business for the appliance, furniture, building products and medical device …
Nordson Corp., Westlake, OH, has acquired Wachter, Paul and Co., operator of Bigger Dosier Klebetechnik, a distributor of Nordson’s EFD brand product line.
Bigger Dosier Klebetechnik has distributed the EFD product line for 40 years. The company will become part of Nordson’s subsidiary Nordson (Schweiz) AG and will continue to function as before.
Nordson is a producer of precision dispensing equipment that applies adhesives, sealants and coatings to a broad range of consumer and industrial products during manufacturing operations. The company also manufactures equipment used in the testing and inspection of electronic components as well as technology-based systems for curing and surface treatment processes.
Nordson has more than 4,100 employees …
Monomoy Capital Partners has acquired L&P Plastics, LLC from Leggett &Platt, Inc.
L&P Plastics, a non-core operating division of Leggett &Platt, manufactures and designs custom plastic components for the power tool, medical device, furniture and automotive industries. The company has more than 400 employees and provides a full range of tooling, molding and assembly services, including injection molding, gas-assisted molding, insert molding and structural form molding.
L&P Plastics’larger customers include Briggs &Stratton, GE Medical, Caterpillar, Humanscale, Leggett &Platt and Key Safety Systems. The company will be part of a growing Monomoy manufacturing portfolio that includes Compass Automotive Group, Inc, a manufacturer of safety-critical auto parts, …
H.B. Fuller Company, St. Paul, MN, has acquired Egymelt, a manufacturer and marketer of hot melt and specialty water-based adhesives headquartered in Cairo, Egypt.
The acquisition of Egymelt establishes our geographic presence in one of the fastest-growing regions in the world, further expanding our manufacturing footprint in a manner consistent with our five-year strategic plan,”said Michele Volpi, president and CEO. “This transaction will allow us to enhance our service offering to global accounts, improve the economics of existing sales to the region and augment our current growth profile.”
Egymelt employs 21 people and had net revenue in 2007 of $4 million. The principle assets acquired include a manufacturing facility, equipment, and inventory. The results …
