Company News
December 2, 2020
COIM Announces Increase
December 2nd, 2020
Dear Valued Customer,
COIM USA is increasing the selling prices of its Isoexter® polyester polyols for rigid board applications in the US and Canada by $0.05/lb. This price increase is effective January 1st, 2021, or as contracts allow.
We appreciate the business and partnership between our companies, and your account manager will contact you shortly to discuss the specifics of this increase.
December 2, 2020
COIM Announces Increase
December 2nd, 2020
Dear Valued Customer,
COIM USA is increasing the selling prices of its Isoexter® polyester polyols for rigid board applications in the US and Canada by $0.05/lb. This price increase is effective January 1st, 2021, or as contracts allow.
We appreciate the business and partnership between our companies, and your account manager will contact you shortly to discuss the specifics of this increase.
November 30, 2020
PPG Acquires Ennis-Flint
PPG to acquire global coatings manufacturer Ennis-Flint for $1.15 bn
Transaction is expected to close within the next few months, subject to customary closing conditions
- By ICN Group | November 30, 2020
PPG today announced that it has reached a definitive agreement to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies. The transaction, valued at approximately $1.15 billion, is expected to close within the next few months, subject to customary closing conditions. “The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” said Michael McGarry, PPG chairman and chief executive officer. “The company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint’s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company’s product distribution on a global scale.” PPG formed a mobility focus team in 2017 to develop mobility technologies and innovative technical solutions that provide increased functionality and solve new and unique requirements for electric, hybrid and autonomous vehicles. Mobility-related products developed by PPG include battery-specific coatings that deliver enhanced safety and performance, autonomous vehicle coatings that improve vehicle and infrastructure visibility, and interior coatings that increase surface functionality and durability. Ennis-Flint, a privately held company headquartered in Greensboro, North Carolina, is a global leader in pavement markings and traffic safety solutions with the industry’s most comprehensive and innovative product offering. Products are developed according to strict government guidelines and customer specifications, many of which are proprietary to the company. A high percentage of its product sales are derived from non-discretionary, essential maintenance spending. Ennis-Flint supplies a wide range of products, including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems from a network of manufacturing facilities within the United States, Europe, South America, and Asia. The company employs approximately 1,000 people globally and its full year of 2020 revenue is expected to be approximately $600 million, with mid-teen percentage EBITDA margins. “We are excited to join the global PPG family,” added Matt Soule, president and CEO of Ennis-Flint. “Our products and technologies are excellent complements to PPG’s current product offering, and the ability to leverage PPG’s world-class innovation and broad geographical footprint will provide more growth opportunities for our products and employees in the future.” PPG will provide additional details relating to the business acquisition, including acquisition-related financial impacts, during the company’s fourth quarter earnings conference call in January 2021.
November 30, 2020
PPG Acquires Ennis-Flint
PPG to acquire global coatings manufacturer Ennis-Flint for $1.15 bn
Transaction is expected to close within the next few months, subject to customary closing conditions
- By ICN Group | November 30, 2020
PPG today announced that it has reached a definitive agreement to acquire Ennis-Flint, a global manufacturer of coatings with a broad portfolio of pavement marking products, including paint, thermoplastics and other advanced traffic technologies. The transaction, valued at approximately $1.15 billion, is expected to close within the next few months, subject to customary closing conditions. “The acquisition of Ennis-Flint will further expand our product offering and opportunities in rapidly developing and high-growth mobility technology solutions,” said Michael McGarry, PPG chairman and chief executive officer. “The company is well known for its high-quality products, technical expertise and innovative systems. The addition of Ennis-Flint’s products further enhances our existing mobility technologies in support of increased automotive occupant safety through driver-assisted and autonomous driving systems. We look forward to the Ennis-Flint team joining PPG and working together to further expand the company’s product distribution on a global scale.” PPG formed a mobility focus team in 2017 to develop mobility technologies and innovative technical solutions that provide increased functionality and solve new and unique requirements for electric, hybrid and autonomous vehicles. Mobility-related products developed by PPG include battery-specific coatings that deliver enhanced safety and performance, autonomous vehicle coatings that improve vehicle and infrastructure visibility, and interior coatings that increase surface functionality and durability. Ennis-Flint, a privately held company headquartered in Greensboro, North Carolina, is a global leader in pavement markings and traffic safety solutions with the industry’s most comprehensive and innovative product offering. Products are developed according to strict government guidelines and customer specifications, many of which are proprietary to the company. A high percentage of its product sales are derived from non-discretionary, essential maintenance spending. Ennis-Flint supplies a wide range of products, including traffic paint, hot-applied and preformed thermoplastics, raised pavement markers and intelligent transportation systems from a network of manufacturing facilities within the United States, Europe, South America, and Asia. The company employs approximately 1,000 people globally and its full year of 2020 revenue is expected to be approximately $600 million, with mid-teen percentage EBITDA margins. “We are excited to join the global PPG family,” added Matt Soule, president and CEO of Ennis-Flint. “Our products and technologies are excellent complements to PPG’s current product offering, and the ability to leverage PPG’s world-class innovation and broad geographical footprint will provide more growth opportunities for our products and employees in the future.” PPG will provide additional details relating to the business acquisition, including acquisition-related financial impacts, during the company’s fourth quarter earnings conference call in January 2021.
November 23, 2020
Lyondell Costs to Rise
Tariffs, delays, construction inflate LyondellBasell PO/TBA costs by 30%
Author: Al Greenwood
2020/10/30
HOUSTON (ICIS)–Because of tariffs, delays and construction, LyondellBasell expects that costs will rise by at least 30% for its new propylene oxide/tertiary butyl alcohol (PO/TBA) project, executives said on Friday.
The $2.4bn PO/TBA project began in August 2018, and it is made up of two parts.
The PO/TBA plant is being built at LyondellBasell’s complex in Channelview, Texas. Once finished, the plant will produce 2.2bn lb/year (1m tonnes/year) of TBA and 1bn lb/year of PO.
The second part – about $640m of the $2.4bn project – will expand the company’s complex in Bayport, Texas. The new capacity will convert TBA into mainly ethyl tertiary butyl ether (ETBE), although it will have the flexibility to produce methyl tertiary butyl ether (MTBE) as well.
Back in March, LyondellBasell said it was slowing down construction at the site to preserve capital and to limit the spread of the coronavirus.
The delay pushed the completion date for the project by about a year to the fourth quarter of 2022, said Michael McMurray, chief financial officer. He made his comments during an earnings conference call.
“Higher costs arising from the delayed project execution, more extensive civil construction and unexpected tariffs on materials are expected to add at least 30% to our original cost estimate of $2.4bn,” he said.
The delay does have a positive side. It could help with the timing of the start-up of the project, so it corresponds with a stronger economy, McMurray said.
Nonetheless, the combined effects of the delay, the tariffs and the construction will lower the returns of the project, said Bob Patel, CEO. He was also on the conference call.
“Certainly returns will be lower. We think probably in the 10% range on returns for PO/TBA,” he said. Still, “I think in the end, we are going to net out the delay of the project”.
The delay gave LyondellBasell a cushion on cash flow in 2020, Patel said. Like McMurray, he noted that the project will start operations when the market is further along in its recovery.
“In the end, balancing near-term needs with long-term market demand, I think this was the right call to make,” Patel said.
Everchem Updates Archive 
Sign Up for Email Updates