Company News
March 31, 2022
Recticel Completes Sale
Recticel completes the sale of its Bedding activities to Aquinos Group
Regulated information, Brussels, 31/03/2022 — 17:45 CET, 31.03.2022
Recticel announces that on 31 March 2022, it successfully sold its Bedding activities to to the Portuguese privately owned Aquinos Group.
Olivier Chapelle (Chief Executive Officer): “The closing of the transaction went smoothly, and within the expected timeframe. The divestment of the Bedding business line is another essential step in simplifying our group structure and in realizing our strategic objectives, while further strengthening our capital structure.
With the Aquinos Group, I am confident that we have found a new owner with the commercial and industrial capabilities to leverage the full potential of our Bedding brands, proprietary technology and highly qualified teams. Our Bedding employees and customers will find in Aquinos a truly dedicated player in the European sleep comfort market. I also want to express my heartfelt gratitude for the professionalism, dedication and loyalty shown over the years by our Bedding teams, to whom I wish all the best in the future.”
https://www.recticel.com/recticel-completes-sale-its-bedding-activities-aquinos-group.html
March 31, 2022
Tempur Sealy Update
Tempur Sealy foresees Q1 revenue below consensus
Mar. 31, 2022 7:34 AM ETTempur Sealy International, Inc. (TPX)By: Niloofer Shaikh, SA News Editor5 Comments
- Tempur Sealy International (NYSE:TPX) expects 1Q22 consolidated net sales growth of approximately 15% Y/Y vs. consensus growth of 20.95%.
- Tempur Sealy Chairman and CEO Scott Thompson commented, “We expect that the first quarter of 2022 will be the 10th out of the last 11 quarters that we have delivered double-digit sales growth. However, while we expect double digit sales in the first quarter, recent geopolitical events, falling consumer confidence and new COVID variant outbreaks in our international markets have resulted in sales below our expectations following a strong Presidents’ Day sales period.”
- The company also elected to postpone the launch of the new international line of Tempur products that was planned for 2022 to the first quarter of 2023.
- Q1 results will be out on April 28 before the market opens.
March 31, 2022
Tempur Sealy Update
Tempur Sealy foresees Q1 revenue below consensus
Mar. 31, 2022 7:34 AM ETTempur Sealy International, Inc. (TPX)By: Niloofer Shaikh, SA News Editor5 Comments
- Tempur Sealy International (NYSE:TPX) expects 1Q22 consolidated net sales growth of approximately 15% Y/Y vs. consensus growth of 20.95%.
- Tempur Sealy Chairman and CEO Scott Thompson commented, “We expect that the first quarter of 2022 will be the 10th out of the last 11 quarters that we have delivered double-digit sales growth. However, while we expect double digit sales in the first quarter, recent geopolitical events, falling consumer confidence and new COVID variant outbreaks in our international markets have resulted in sales below our expectations following a strong Presidents’ Day sales period.”
- The company also elected to postpone the launch of the new international line of Tempur products that was planned for 2022 to the first quarter of 2023.
- Q1 results will be out on April 28 before the market opens.
March 25, 2022
Huntsman Weathers Board Challenge
Huntsman Shareholders Elect All Huntsman Director Nominees at 2022 Annual Meeting
Download as PDF March 25, 2022 10:21am EDT
THE WOODLANDS, Texas, March 25, 2022 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today announced, based on preliminary vote results provided by its proxy solicitor following the Company’s 2022 Annual Meeting of Stockholders, that Huntsman shareholders have voted to elect all 10 of its director nominees – Peter R. Huntsman, Dr. Mary C. Beckerle, Sonia Dulá, Cynthia L. Egan, Curtis E. Espeland, Daniele Ferrari, Jeanne McGovern, José Muñoz, David B. Sewell and Jan E. Tighe – to the Company’s Board of Directors.
Peter R. Huntsman, Chairman, President and CEO, commented as follows:
“We appreciate the dialogue that we’ve had with a significant number of our shareholders during this campaign – including almost all of our 100 largest shareholders – and want to thank all of our shareholders for the feedback they provided. Over the past few years, we transformed our product portfolio to focus on ‘value over volume’ and fully deleveraged our balance sheet, earning an investment grade rating. The outcome of today’s shareholder vote is validation of our portfolio strategy and recognition that the Huntsman of today is vastly different than the Huntsman of five years ago.
Mr. Huntsman further commented:
“Our fit for purpose and refreshed Board is committed to delivering on its core principles of shareholder alignment and accountability as we continue to execute on the strategy outlined at our November 2021 Investor Day. As Huntsman looks to the future, the Board and the management remain unwavering in our steadfast commitment to build on our record results this past year and to continue delivering lasting value for our shareholders. Looking momentarily to the past, we would like to thank our departing directors – Nolan Archibald, Anthony Burns, Sir Robert Margetts and Wayne Reaud – for their many contributions to the Company. As previously announced, each departed effective at the Annual Meeting.
In closing, Mr. Huntsman noted the Board’s intent to continue building on the high level of shareholder engagement prompted in part by Starboard’s campaign. With regard to Starboard more specifically, Mr. Huntsman stated:
“While we had our differences with Starboard on the key issue of Board composition, we appreciated the constructive dialogue we had with them on that topic as well as several other business matters since their initial investment and look forward to continued engagement with Starboard as a significant investor in Huntsman.”
The results announced today are considered preliminary until final results are tabulated and certified by the independent Inspector of Elections. Final results will be reported on a Form 8-K that will be filed with the Securities and Exchange Commission.
March 25, 2022
Huntsman Weathers Board Challenge
Huntsman Shareholders Elect All Huntsman Director Nominees at 2022 Annual Meeting
Download as PDF March 25, 2022 10:21am EDT
THE WOODLANDS, Texas, March 25, 2022 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today announced, based on preliminary vote results provided by its proxy solicitor following the Company’s 2022 Annual Meeting of Stockholders, that Huntsman shareholders have voted to elect all 10 of its director nominees – Peter R. Huntsman, Dr. Mary C. Beckerle, Sonia Dulá, Cynthia L. Egan, Curtis E. Espeland, Daniele Ferrari, Jeanne McGovern, José Muñoz, David B. Sewell and Jan E. Tighe – to the Company’s Board of Directors.
Peter R. Huntsman, Chairman, President and CEO, commented as follows:
“We appreciate the dialogue that we’ve had with a significant number of our shareholders during this campaign – including almost all of our 100 largest shareholders – and want to thank all of our shareholders for the feedback they provided. Over the past few years, we transformed our product portfolio to focus on ‘value over volume’ and fully deleveraged our balance sheet, earning an investment grade rating. The outcome of today’s shareholder vote is validation of our portfolio strategy and recognition that the Huntsman of today is vastly different than the Huntsman of five years ago.
Mr. Huntsman further commented:
“Our fit for purpose and refreshed Board is committed to delivering on its core principles of shareholder alignment and accountability as we continue to execute on the strategy outlined at our November 2021 Investor Day. As Huntsman looks to the future, the Board and the management remain unwavering in our steadfast commitment to build on our record results this past year and to continue delivering lasting value for our shareholders. Looking momentarily to the past, we would like to thank our departing directors – Nolan Archibald, Anthony Burns, Sir Robert Margetts and Wayne Reaud – for their many contributions to the Company. As previously announced, each departed effective at the Annual Meeting.
In closing, Mr. Huntsman noted the Board’s intent to continue building on the high level of shareholder engagement prompted in part by Starboard’s campaign. With regard to Starboard more specifically, Mr. Huntsman stated:
“While we had our differences with Starboard on the key issue of Board composition, we appreciated the constructive dialogue we had with them on that topic as well as several other business matters since their initial investment and look forward to continued engagement with Starboard as a significant investor in Huntsman.”
The results announced today are considered preliminary until final results are tabulated and certified by the independent Inspector of Elections. Final results will be reported on a Form 8-K that will be filed with the Securities and Exchange Commission.
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