Company News
September 16, 2022
Zarnitz Joins Everchem
Everchem Specialty Chemicals is pleased to announce that Charlie Zarnitz has joined our team as Director for Business Development. Charlie has over 40 years of experience with epoxy resins, working on both the formulator side and as a raw material supplier. He has held positions in both technical and commercial management and looks forward to working closely with our customers to support their profitable growth.
Everchem Specialty Chemicals is a sales, marketing and technology driven company supplying the North American market with urethane, epoxy and specialty industrial chemicals. Our sourcing abilities, coupled with our technical and market expertise result in real savings of both time and money for our customers.
Charlie can be reached at 856-371-2398 or at charlie@everchem.com.
September 16, 2022
Huntsman Reduces Forecast
Huntsman Updates Third Quarter 2022 Outlook
THE WOODLANDS, Texas, Sept. 16, 2022 /PRNewswire/ — During Huntsman’s (NYSE: HUN) second quarter earnings conference call, the Company provided third quarter adjusted EBITDA guidance of between approximately $310 million and $355 million, excluding Textile Effects. The Company now expects third quarter adjusted EBITDA from continuing operations to be between $260 million and $280 million. As previously announced, Huntsman will begin reporting Textile Effects as discontinued operations following the announced agreement to sell the division to Archroma, a portfolio company of SK Capital Partners.
Peter Huntsman, Chairman, President, and CEO commented:
“Huntsman is feeling the same pressures as others in the industry as we are being impacted by persistent and extraordinary cost of energy in Europe, together with lower than expected demand across segments in our portfolio, primarily within Polyurethanes and Performance Products. The economy in China continues to lag our expectations due to continued Covid-related lockdowns. While the United States remains our most resilient market, demand in residential housing has slowed.
“We remain on track to exceed our previously announced cost optimization and synergy program and expect to deliver an annualized run rate of approximately $170 million by year-end. Given the current operating environment, we are evaluating further cost reduction and optimization opportunities and we are actively moving product into Europe from our facilities in the United States and Asia.”
https://www.huntsman.com/news/media-releases/detail/537/huntsman-updates-third-quarter-2022-outlook
September 16, 2022
Huntsman Reduces Forecast
Huntsman Updates Third Quarter 2022 Outlook
THE WOODLANDS, Texas, Sept. 16, 2022 /PRNewswire/ — During Huntsman’s (NYSE: HUN) second quarter earnings conference call, the Company provided third quarter adjusted EBITDA guidance of between approximately $310 million and $355 million, excluding Textile Effects. The Company now expects third quarter adjusted EBITDA from continuing operations to be between $260 million and $280 million. As previously announced, Huntsman will begin reporting Textile Effects as discontinued operations following the announced agreement to sell the division to Archroma, a portfolio company of SK Capital Partners.
Peter Huntsman, Chairman, President, and CEO commented:
“Huntsman is feeling the same pressures as others in the industry as we are being impacted by persistent and extraordinary cost of energy in Europe, together with lower than expected demand across segments in our portfolio, primarily within Polyurethanes and Performance Products. The economy in China continues to lag our expectations due to continued Covid-related lockdowns. While the United States remains our most resilient market, demand in residential housing has slowed.
“We remain on track to exceed our previously announced cost optimization and synergy program and expect to deliver an annualized run rate of approximately $170 million by year-end. Given the current operating environment, we are evaluating further cost reduction and optimization opportunities and we are actively moving product into Europe from our facilities in the United States and Asia.”
https://www.huntsman.com/news/media-releases/detail/537/huntsman-updates-third-quarter-2022-outlook
September 16, 2022
Momentive Plant Completed
Momentive: Expansion of PU additives plant in Italy completed
Sep 15, 2022
The Momentive Performance Materials group, a global high-performance silicones and speciality solutions company, has announced its latest growth investment – a new manufacturing facility in Termoli, Italy.
According to the company, this new facility will produce Slabstock and Rigid Niax polyurethane (PU) additives for bedding and furniture, insulation, and automotive applications, focusing on solutions for a more sustainable world. These include performance additives for insulation foams in the building and appliances industries that improve energy efficiency; for mattresses in a box that allow optimizing transport volume and therefore pollution; low emission catalysts for mattresses and car seats contributing to a safer and more environmentally friendly final product.
“Expanding production of our PU additives in Termoli, Italy is a key part of our in-region-for-region strategy to provide a more flexible and reliable supply capability for our European customers,” said VP Nalian, President & General Manager of Momentive’s Performance Additives Business. “This new facility also represents Momentive’s global commitment to bringing Innovative Solutions for a sustainable world, meeting the most stringent production process safety standards. We remain committed to creating value for our customers, our partners, our employees, our environment, and our local communities”
“With our expertise in bringing innovative foaming solutions for the PU Industry, this state-of-the-art new plant will augment our ability to continue the development of the Niax product family with high performing and reliable products for PU Flexible foam manufacturers” said Dr. Alberto Melle, Global Business Segment Leader for PU Slab Additives.
“We value the trust that our customers have placed on us to provide high-quality, sustainable, tailor-made PU Rigid, Molded & Specialty additives for their expanding needs in Thermal Management, Clean Cabin, Noise & Vibration Handling solutions. This new facility is a testimony of our commitment to continue to stay invested in meeting needs of our European Customers” said Thuan Nguyen, Global Business Segment Leader for PU RMS.
September 16, 2022
Momentive Plant Completed
Momentive: Expansion of PU additives plant in Italy completed
Sep 15, 2022
The Momentive Performance Materials group, a global high-performance silicones and speciality solutions company, has announced its latest growth investment – a new manufacturing facility in Termoli, Italy.
According to the company, this new facility will produce Slabstock and Rigid Niax polyurethane (PU) additives for bedding and furniture, insulation, and automotive applications, focusing on solutions for a more sustainable world. These include performance additives for insulation foams in the building and appliances industries that improve energy efficiency; for mattresses in a box that allow optimizing transport volume and therefore pollution; low emission catalysts for mattresses and car seats contributing to a safer and more environmentally friendly final product.
“Expanding production of our PU additives in Termoli, Italy is a key part of our in-region-for-region strategy to provide a more flexible and reliable supply capability for our European customers,” said VP Nalian, President & General Manager of Momentive’s Performance Additives Business. “This new facility also represents Momentive’s global commitment to bringing Innovative Solutions for a sustainable world, meeting the most stringent production process safety standards. We remain committed to creating value for our customers, our partners, our employees, our environment, and our local communities”
“With our expertise in bringing innovative foaming solutions for the PU Industry, this state-of-the-art new plant will augment our ability to continue the development of the Niax product family with high performing and reliable products for PU Flexible foam manufacturers” said Dr. Alberto Melle, Global Business Segment Leader for PU Slab Additives.
“We value the trust that our customers have placed on us to provide high-quality, sustainable, tailor-made PU Rigid, Molded & Specialty additives for their expanding needs in Thermal Management, Clean Cabin, Noise & Vibration Handling solutions. This new facility is a testimony of our commitment to continue to stay invested in meeting needs of our European Customers” said Thuan Nguyen, Global Business Segment Leader for PU RMS.
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