RPM matches estimates on higher sales, volumes

RPM international Inc. today reported fiscal first-quarter net income that was roughly flat year over year, at $227.6 million, on net sales up 7.4%, to $2.11 billion, as per Chemweek.

Adjusted earnings totaled $1.88 per share, matching analysts’ consensus estimate, as reported by S&P Capital IQ. Growth in sales and volumes drove results, along with acquisitions and operational improvements.

The company also adjusted its forecasts for the full fiscal year. Sales are expected to rise toward the higher end of prior guidance calling for low to mid-single-digit percentage growth, while consolidated adjusted earnings before interest and tax is expected to increase toward the lower end of prior guidance calling for high single to low double-digit percentage growth.

“While tariff-related inflation remains a challenge, we are working to mitigate these headwinds through a series of measures, including price increases late in the first quarter,” said RPM Chairman and CEO Frank Sullivan. “We will also begin realizing more efficiency benefits from our streamlined three-segment structure in the second quarter.”

Construction products segment sales increased 6.5% year over year, to $881.4 million, while segment EBIT was up 1.5%, to $163.9 million. Sales volumes for roofing products for “high-performance buildings” and infrastructure products drove the increases, RPM said.

Consumer products segment sales rose 6.6% year over year, to $693.8 million, while segment EBIT increased 1.9%, to $108.9 million. Acquisitions boosted results, partly offset by lower volumes and cost inflation.

Performance coatings segment sales rose 9.9% year over year, to $538.5 million, while segment EBIT increased 7.3%, to $82.1 million. Sales increases were broad-based, with particular strength in flooring products, protective coatings and specialty original equipment manufacturer coatings.

RPM’s fiscal first-quarter ended Aug. 31.

mrchub.com

Specialty chemicals and service provider Dorf Ketal (Mumbai) is reportedly in advanced negotiations to acquire Italmatch Chemicals SpA (Genoa, Italy) for $1.6 billion, according to a report by The Economic Times (ET), as per Chemweek.

The deal, which is being facilitated by Bain Capital, the current owners of Italmatch, is expected to finalize in the coming weeks, as both parties have entered exclusivity discussions, according to sources cited by ET.

Italmatch Chemicals operates across four major segments: water and oil treatment, lubricants, flame retardants and plastic additives, and performance products, including personal care items.

The ET said the company has made strides in specialty chemical additives, particularly in flame retardants, fabric softeners and lubricants, while establishing a robust presence in the US market. Italmatch boasts 20 manufacturing plants worldwide, nine of which are in the EU.

Reports suggest Italmatch’s CEO Sergio Iorio is likely to retain a portion of his stake to ensure continuity in leadership post-acquisition.

Having undergone several transitions in private equity, Italmatch was acquired by Bain Capital from Ardian SAS in 2018, with Bain subsequently selling a minority stake to Saudi Arabia's Dussur.

Italmatch reported a revenue of €686 million in 2024, marking an 8% increase in volumes compared to the previous year, while adjusted EBITDA rose 17% to €134 million.

In a related development, Dorf Ketal recently withdrew its IPO prospectus, with insiders indicating that this decision is linked to the ongoing negotiations for the acquisition of Italmatch, ET said.

Dorf Ketal, which reported a revenue of 54.7 billion Indian rupees ($617.7 million) in 2024, operates manufacturing facilities in India, Brazil and Canada and has contract manufacturing arrangements in the Netherlands. The company supports its global operations with research and development hubs in India, Brazil, Singapore and Canada, serving diverse sectors including energy, petrochemicals, refining, fuel additives, catalysts and specialty chemicals, according to ET.
mrchub.com

OJSC Minsk Automobile Plant (MAP), the managing company of the Belavtomaz holding (Belarus), and PJSC Severstal (Russia) signed a memorandum on strategic cooperation during the Innoprom, as per Interfax.

Belarus exhibition in Minsk, the press service of the Belarusian enterprise said on Tuesday.

"Among other things, the memorandum provides for the expanded use of high-strength steels from the POWERS line and other types of Severstal's metal products, which will enhance the reliability of MAP machinery even under conditions of its intensive operation," the press service said.

The companies will also combine engineering and technical resources for conducting research and development work.

"The cooperation agreement has allowed us to identify the most relevant aspects of joint work, which will enable us to achieve improved consumer characteristics and quality of MAP products," the press service quoted the deputy general director and technical director of the Minsk plant, Alexander Kravchenko, as saying.

Minsk Automobile Plant specializes in producing heavy-duty vehicles, as well as buses, trolleybuses and trailer equipment. MAP increased production 12% in 2024, manufacturing over 13,100 units of equipment (including almost 2,000 passenger units). Since 2021, MAP has been under international sanctions of the European Union and other countries.

mrchub.com

Arkema SA has inaugurated its battery dry coating laboratory at the Cerdato Research Center in Normandy, France, that complements Arkema’s global network of research and development labs dedicated to the battery industry, the company said in a statement Sept. 29.

The new lab is fully dedicated to exploring and advancing the dry coating process for battery electrodes, the company said, adding that this approach represents a major shift in electrode manufacturing.

“By eliminating the need for solvent evaporation, it significantly reduces energy consumption and lowers the carbon footprint of battery production. The process also simplifies manufacturing steps, making it a more resource-efficient and environmentally responsible alternative to traditional wet coating methods,” Arkema said.

The lab is equipped with two complementary technologies that enable versatile and precise electrode fabrication, the company said.

Direct calendaring is a technology that allows for the production of uniform and consistent electrode layers with controlled thickness, and electrodeposition is a technique that enables advanced material layering and customization, according to Arkema.

Battery technologies represent a major growth driver for Arkema. The company operates a global network of dedicated laboratories that are being coordinated through the Christian Collette Center of Excellence in the Lyon area of France, Arkema said.

The company has R&D sites in China, South Korea, Japan and the US that are focused on developing advanced materials across the entire battery value chain, it said.

Since its startup in late 2024, the new battery dry coating lab has become a hub for collaborative innovation with major cell makers and automotive players, aimed at accelerating the industrial adoption of dry coating technologies, Arkema said.
mrchub.com

Russia, which signed a number of documents in early September to increase gas exports to China through pipelines, also plans to ramp up exports of liquefied natural gas (LNG) to the country, particularly from the Arctic LNG 2 and Sakhalin-2 projects, Energy Ministry Sergei Tsivilev said in an interview with the journal Expert, as per Interfax.

"We are having very substantial joint progress here," he said. "Therefore, Russia's prospects for cooperation in the energy sector with India and China are very good. Among other things, a lot of work has been done to switch to mutual settlements between countries in national currencies. This is a dynamic process, payments in national currencies are constantly increasing. For example, Gazprom now receives payment for gas in a ratio of 50 to 50 in rubles and yuan," Tsivilev said.

He also said that India has not stopped buying Russian despite the fact that the United States has imposed an additional duty on its goods for doing so.

"The prospect of using the Northern Sea Route for shipments of energy resources - oil, coal, LNG - to India is being discussed. I'll also recall that Russia is participating in the construction of the largest Indian nuclear power plant, Kudankulam, and is planning new projects in the field of peaceful nuclear technology," Tsivilev said.

Russia is also expanding cooperation with African countries "through the line of intergovernmental commissions, the number of which is growing," the minister said, adding that he headed the intergovernmental commission with Mali and held its first meeting in July during a visit to members of the Alliance of Sahel States, which was formed in September 2023 by Mali, Niger and Burkina Faso.

"We are counting on completing the creation of intergovernmental commissions with Burkina Faso and Niger by the end of the year," he said.

"We agreed with the energy ministers of the Sahel countries to expand cooperation. And we're not limiting ourselves to the fuel and energy sector, but are considering a whole set of measures aimed at the balanced and efficient development of African countries' economies. Specifically, there is a possibility to implement joint projects that benefit several countries at once. This is joint use of ports, construction of railways, refining plants and so on," Tsivilev said.

mrchub.com