Brenntag to distribute Elementis' coating products in Ecuador and Mexico

MRC -- Brenntag, a chemical and ingredient distributor, announces a new supplier agreement with Elementis to distribute a variety of applications in Mexico and Ecuador for the coatings and construction markets, effective immediately, said the company.

Brenntag Specialties has expanded the distribution relationship with Elementis as a distributor for coatings and construction products in Ecuador and Mexico. The product lines are used in applications for industrial and architectural coatings, sealants, adhesives, inks and construction products.

The products include rheology modifiers, slip and levelling additives, defoamers and wetting and dispersing additives. Products falling under these trade names provide unique benefits to the industries that use them: Bentone, Bengel, Benathix, Benaqua, Baragel - bentonite and hectorite organoclays; Dapro - defoamers; Nuosperse - wetting and dispersing agents and humectants; M-P-A - anti-settling agents; Thixatrol, Thixcin - organic thixotropes; Rheolate - associative thickeners; SlipAyd - slip and levelling additives; Dumacil - hydrophobic silica; and Nalzin - anti-corrosive additive.

We remind, Brenntag, the global market leader in chemicals and ingredients distribution, today announced the acquisition of OWI Chlor Alkali (Old World Specialty Chemicals, LLC, and Old World Logistics, LLC) from Old World Industries, LLC in Northbrook, Illinois. The business units will be integrated into Brenntag Essentials’ existing network in North America, significantly expanding Brenntag Essentials’ local and regional footprint.

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MRC -- Mitsui Chemicals, Inc. has this October acquired certification for one more product under the International Sustainability and Carbon Certification (ISCC) PLUS system for certifying sustainable products, said the company.

Aiming to expand the social implementation of biomass-based products under a mass balance system, Mitsui Chemicals plans to continue working toward the acquisition of ISCC PLUS certification across the Mitsui Chemicals Group to contribute to further advances in society’s use of biomass.

We remind, Mitsui Chemicals recently held a groundbreaking ceremony for a new plant to produce the high-performance elastomer Tafmer at its Singapore-based wholly owned subsidiary Mitsui Elastomers Singapore. The ceremony was held on 28 July, 2023. As part of Mitsui Chemicals’ Vision 2030 Long-Term Business Plan, the Mobility Solutions business aims to help solve social challenges and achieve sustainable business growth by providing unique materials, features and services.

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MRC -- Henkel, a surface treatment provider, expands its production capacities in Montornes del Valles, Spain, adding solvent- and chromium-free innovations for the pretreatment of metals in coating plants to its European portfolio, said the company.

Henkel has been supplying the chromium-free pretreatment agents Bonderite M-NT 1455T, M-NT 1456 and M-NT 10456 for coil coating to customers in various sectors, such as architecture. The agents act as an interface between the steel and the coating to provide enhanced corrosion protection and adhesion.

The three solutions are now also available as solvent-free products with the suffix 'SF' (solvent-free). For example, one disadvantage of solvent-borne products is their boiling point of 150 degC, which leads to poorer drying of the material. In contrast, users of the solvent-free, odourless and better-drying solutions benefit from process-related advantages, such as greater product stability at higher temperatures.

The solutions also have a much longer shelf life, as precipitation during storage is reduced. To meet the demand for solvent-free pretreatment products, Henkel has invested significantly in its Montornes site in Spain to expand production facilities for the polymer used in these products. This polymer gives the products their outstanding properties in terms of coating adhesion and corrosion resistance. The site is ideally positioned in terms of infrastructure to serve as the European hub for coil pretreatment, while also increasing capacity for global customers.

We remind, Henkel acquired the US-based Critica Infrastructure (“Critica”), a specialized supplier of maintenance, repair and overhaul (MRO) composite solutions for the world’s most critical infrastructure such as oil and gas transmission as well as municipal water supply systems. Critica is active in many countries with a strong focus on North America and is expected to reach sales of around 100 million euros (around 110 million USD) in 2023.

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MRC -- Arkema achieved a solid EBITDA margin and high cash generation in an ongoing context of low volumes reflecting the current economic environment, said the company.

Sales of EUR 2.3 bn in 3Q 2023 were down by 17.2% at constant currency compared with 3Q 2022. Volumes were down by 6.6% year-on-year in an environment of generally slow demand comparable to that of previous quarters. 10.6% negative price effect reflected lower raw materials, as well as price normalization in PVDF and upstream acrylics following the exceptional market conditions in 2022.

EBITDA was at EUR 386 M, down compared with the prior year's high comparison base (EUR 495 M in 3Q 2022), and EBITDA margin holding up well at 16.6% (16.7% in 3Q 2022), reflecting the strength of the group's positioning and the initiatives taken to adapt to the economic climate. Adjusted net income was at EUR 177 M (compared to EUR 260 M in 3Q 2022), representing EUR 2.38/share. High cash generation with recurring cash flow reached EUR 312 M (compared to EUR 434 M in 3Q 2022) and net debt was at EUR 2419 M including hybrid bonds (compared to EUR 2645 M at end-Jun 2023), representing 1.7x last-twelve-months EBITDA.

As indicated last Sep 2023 at the Capital Markets Day, Arkema confirms its EBITDA forecast of around EUR 1.5 bn in 2023, supported in particular by the resilience of several product lines and ongoing cost-saving actions.

We remind, Arkema has begun production of Sartomer® specialty UV/LED curing resins at its expanded facility in Nansha, China, where the Group invested to double the capacity, as announced end-2021, said the company.
This will support the development of more sustainable solutions for fast-growing applications in Asian markets, such as cutting-edge solutions in electronics, driven by 5G technology, and in renewable energies.

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MRC -- Huhtamaki's subsidiary in India has recently consolidated five manufacturing sites into larger local units, said the company.

Following the reorganization, the company has sold its real estate in Thane, India, from where a manufacturing facility and offices have been transferred.

The real estate was sold to Phoenix Group, a large real estate developer, for EUR 47 million. Huhtamaki will book a gain of approximately EUR 44 million in the fourth quarter of 2023 and it will be treated as an item affecting comparability.

We remind, Huhtamaki, the maker of Chinet® tableware, is launching fiber-based egg cartons, made from 100% recycled material, for US egg producers. Huhtamaki is bringing its fiber expertise to the US as an alternative to foam egg packaging.

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