Chemical

EQS-News: Klöckner & Co successfully completes the sale of four European country organizations

Retrieved on: 
Wednesday, March 13, 2024
Growth, Sale, Chemical

On December 22, 2023, Klöckner & Co announced the intention to sell parts of its European distribution business.

Key Points: 
  • On December 22, 2023, Klöckner & Co announced the intention to sell parts of its European distribution business.
  • As a result, the closed sale significantly reduces the company’s exposure to volatile low-margin commodity markets.
  • Guido Kerkhoff, CEO of Klöckner & Co: “With the completion of this transaction, we have reached a major milestone in optimizing our portfolio.
  • As a result, Klöckner & Co will from now on generate well over 50% of Group sales in North America.

EQS-News: Schaeffler Group improves profitability in 2023

Retrieved on: 
Wednesday, March 13, 2024
Engine, Growth, Automation, Greater, Annual report, Central and Eastern Europe, Automotive aftermarket, Industrial, System, Bearing, Chemical

The Automotive Technologies division generated revenue of 9,772 million euros in 2023 (prior year: 9,498 million euros).

Key Points: 
  • The Automotive Technologies division generated revenue of 9,772 million euros in 2023 (prior year: 9,498 million euros).
  • The marked increase in the EBIT margin before special items in 2023 was mainly due to the impact of volumes.
  • Automotive Aftermarket – strong growth, strong margin
    The Automotive Aftermarket division reported revenue of 2,253 million euros in 2023 (prior year: 2,040 million euros).
  • The Industrial division increased its revenue by 3.9 percent at constant currency to 4,288 million euros in 2023 (prior year: 4,271 million euros).

BASF launches ChemCycling in the United States

Retrieved on: 
Wednesday, February 21, 2024
Senior, BTP, Polymer, BASF, Business development, Petrochemical, Plastic, Polyurethane, Environment, Chemical

BASF processes feedstock from plastic waste at Port Arthur, TX facility

Key Points: 
  • BASF processes feedstock from plastic waste at Port Arthur, TX facility
    Innovative solution promoting a more circular economy available in U.S.
  • Leveraging its global expertise in ChemCycling ® , BASF is offering customers ISSC+ certified advanced recycled building blocks from the BASF TotalEnergies Petrochemicals (BTP) facility in Port Arthur, Texas.
  • ChemCycling utilizes recycled feedstock that is derived from plastic waste in the conventional production process, thereby partially replacing fossil resources.
  • New products from advanced recycling have the same properties as products using fossil-derived building blocks,” said Johanne Wilson, Business Development Manager for ChemCycling at BASF.

Tennant Company Acquires Long-Time Distributor of Tennant Equipment to Accelerate Growth in the Central & Eastern Europe Region

Retrieved on: 
Friday, March 1, 2024
Other Manufacturing, Hardware, Machinery, Robotics, Engineering, Technology, Manufacturing, Other Technology, Acquisition, Tennant Company, Senior, Marketing, Growth, TCS, TNC, Chemical

Based in Austria, TCS is Tennant Company’s largest Central and Eastern Europe distributor.

Key Points: 
  • Based in Austria, TCS is Tennant Company’s largest Central and Eastern Europe distributor.
  • “As Tennant Company focuses on strategic acquisitions as part of our growth-oriented enterprise strategy, we are investing in areas where we can accelerate growth and create enterprise value.
  • We’re excited about enhancing our presence and deploying an expanded product portfolio to accelerate our growth,” Zay continued.
  • Otto Rainer, Chief Executive Officer of M&F, commented, “Our business has enjoyed a successful relationship with Tennant Company for many years.

Eagle Materials Reports Record Third Quarter Results with 16% EPS Growth

Retrieved on: 
Thursday, January 25, 2024
Other Manufacturing, Commercial Building & Real Estate, Construction & Property, Other Energy, Chemicals, Plastics, Building Systems, Manufacturing, Energy, Other Construction & Property, Residential Building & Real Estate, Drywall, Population growth, Concrete, Eagle Materials, Joint, Growth, Sale, Carbon, EPS, Paperboard, MSF, Joint venture, Plant, EXP, Chemical

In the third quarter, we achieved record revenue of $559 million, produced record EPS of $3.72 and expanded gross margins by 130 bps to 32.3%.

Key Points: 
  • In the third quarter, we achieved record revenue of $559 million, produced record EPS of $3.72 and expanded gross margins by 130 bps to 32.3%.
  • Heavy Materials operating earnings increased 43% to $107.3 million, primarily because of higher Cement net sales prices and sales volume.
  • Cement revenue for the quarter, including Joint Venture and intersegment revenue, was up 20% to $308.7 million, and operating earnings were a record $105.6 million, up 46%.
  • Paperboard sales volume for the quarter was up 9% to a record 84,000 tons.

Todo Verde Triumphs at 2024 SFA Winter Fancy Food Show Fancy Face-Off Pitch Competition

Retrieved on: 
Thursday, January 25, 2024
Creativity, Hearing, Taste, Love, Fancy, Specialty Food Association, Social media, Food, SFA, Chemical

LAS VEGAS, Jan. 25, 2024 /PRNewswire/ -- Todo Verde and its plant-forward, true-to-culture flavors triumphed at the Specialty Food Association's Fancy Face-Off Pitch Competition on January 22nd at the 48th Winter Fancy Food Show in Las Vegas.

Key Points: 
  • LAS VEGAS, Jan. 25, 2024 /PRNewswire/ -- Todo Verde and its plant-forward, true-to-culture flavors triumphed at the Specialty Food Association's Fancy Face-Off Pitch Competition on January 22nd at the 48th Winter Fancy Food Show in Las Vegas.
  • Four finalists pitched their products to specialty food and culinary professionals at the event.
  • Four finalists were picked from hundreds of entries to pitch their products to specialty food and culinary professionals at the event.
  • "Congratulations to Jocelyn Ramirez of Todo Verde for her win, and to all the Fancy Face-Off finalists for their inspiring pitches at the Winter Fancy Food Show," said Bill Lynch, president of the SFA.

Reduced Environmental Impact of CAPE IGARASSU's Chlor-alkali Plant in Brazil with thyssenkrupp nucera's BM2.7 Technology

Retrieved on: 
Saturday, January 13, 2024
Sodium hydroxide, Hydrogen chloride, Electrolysis, Electrode, Compass Minerals, Minamata Convention on Mercury, Mercury, Sodium hypochlorite, CAPE, Environment, Safety, Industrial, Plant, Engineering, Chlorine, Chemical

The previous electrolysis plant with mercury electrodes will be replaced by electrolyzers with the highly efficient BM2.7 technology (bipolar membrane) from thyssenkrupp nucera.

Key Points: 
  • The previous electrolysis plant with mercury electrodes will be replaced by electrolyzers with the highly efficient BM2.7 technology (bipolar membrane) from thyssenkrupp nucera.
  • The conversion of the CAPE IGARASSU plant in Igarassu is scheduled to be completed by the end of 2025.
  • With the environmentally friendly BM2.7 membrane technology with a modular plant concept from thyssenkrupp nucera, CAPE IGARASSU will meet the requirements of the Minamata Convention.
  • "Chlorum Solutions' decision in favor of our modern BM2.7 technology is another highlight of our long and successful collaboration in Brazil.

SEATTLE SUPPLIER REBRANDS AS CATALYNT

Retrieved on: 
Tuesday, January 9, 2024
Ernst & Young, General counsel, Food, Multimedia, LGBTQ, Puget Sound Business Journal, Puget Sound, Cosmetics, WPO, Chemical

SEATTLE, Jan. 9, 2024 /PRNewswire/ --

Key Points: 
  • The former TRInternational reveals new name and logo, expands service offerings
    Seattle's TRInternational, a provider for raw materials and ingredients since 1994, is rebranding as Catalynt Solutions, Inc.
    Seattle supplier rebrands as Catalynt and expands services with recent acquisitions.
  • As Catalynt heads into its 30th year in business, Gluth-Bohan says the new branding better reflects where the company is today.
  • Along with the rebrand, Catalynt has acquired the companies ChemBlend of America, LLC , and American Chemie, Inc.
  • Gluth-Bohan joined Catalynt in 2012 as General Counsel and quickly moved to General Manager, then President and finally to CEO.

EQS-News: Allianz increases revenues by 4.5% to 36.5 billion euros - Group affirms full-year outlook

Retrieved on: 
Thursday, December 28, 2023
Roe, 3Q, Solvency, CSM, Economics, Trust, NBM, Asset management, Alpha, VOYA, Insurance, Allianz, Financial instrument, CIR, Growth, Internal, Finance, VNB, EPS, Environment, Chemical

We confirm with confidence our operating profit target of 14.2 billion euros, plus or minus 1 billion euros.

Key Points: 
  • We confirm with confidence our operating profit target of 14.2 billion euros, plus or minus 1 billion euros.
  • Favorable foreign currency translation effects of 34.4 billion euros and net inflows of 10.5 billion euros were largely offset by market effects of 37.1 billion euros.
  • 9M 2023: Operating revenues decreased by 5.9 percent to 5.8 billion euros mainly as a result of lower AuM-driven revenues.
  • Third-party assets under managementwere 1.670 trillion euros as of September 30, 2023, up by 35 billion euros from the end of 2022.

EQS-News: Klöckner & Co intends to sell four European country organizations to strengthen focus on higher value-added business and streamline portfolio

Retrieved on: 
Monday, December 25, 2023
Growth, Acquisition, Organization, Sale, DACH, Security (finance), Chemical

These offers have higher profitability and more stable demand due to the long-term contractual relationships and strong customization associated with the higher value-added business.

Key Points: 
  • These offers have higher profitability and more stable demand due to the long-term contractual relationships and strong customization associated with the higher value-added business.
  • Guido Kerkhoff, CEO of Klöckner & Co SE: “Selling parts of our European commodity distribution business would be a major milestone to focus on the less volatile higher value-added business.
  • This is in line with previous achievements such as our recent acquisitions which significantly contribute to this business model and portfolio optimization.
  • Closing, after an acceptance of the irrevocable offer, is expected to take place in the first half of 2024.