Company News
August 20, 2020
Wanhua Q2 Update
Wanhua Chemical H1 profit decreased amid pandemic August 20/2020 MOSCOW (MRC) — China’s Wanhua Chemical posted a 49.56% decrease in net profits in the first half of the year, as sales and prices both took a hit from the coronavirus pandemic, the company said.
Slump in oil prices also dampened demand and prices of its products.
Prices of pure methylene diphenyl diisocyanate (MDI), its major product, decreased to CNY15,800-CNY18,700 in the first half year from CNY23,700-CNY27,200 in the same period of 2019.
Prices of petrochemical products the company makes also recorded a double-digit drop.
For the second half year, the company said it would adjust its sales strategies more actively based on market conditions.
The company targets to bring on stream its 1m tonne/year cracker at Yantai later this year.
As MRC informed earlier, ADNOC Logistics and Services (ADNOC L&S), a subsidiary of the Abu Dhabi National Oil Company (ADNOC) had formed a shipping joint venture with Wanhua Chemical Group. The new company, AW Shipping Limited, is incorporated in Abu Dhabi Global Market (ADGM), a statement by ADNOC said.
August 20, 2020
Tempur Sealy Expanding
Tempur Sealy Announces Third New Manufacturing Facility
Thu August 20, 2020 6:40 AM|PR Newswire|About: TPX PR Newswire
LEXINGTON, Ky., Aug. 20, 2020 /PRNewswire/ — Tempur Sealy International, Inc. (TPX) (NYSE: TPX, “Company” or “Tempur Sealy”) announced plans today to open its 30th North American manufacturing facility. This newest facility is expected to open on the West Coast in the first quarter of 2021 and result in three new manufacturing facilities opening within a six-month period.
Tempur Sealy Chairman and CEO Scott Thompson commented, “The strong demand for bedding, and our products specifically, has continued into the third quarter and we are optimistic about the fundamental trajectory of the business for the foreseeable future. We are facing capacity constraints on U.S. Sealy and Sherwood products that are limiting our ability to meet our customer demand. Sealy is the number one mattress manufacturer in the U.S. based on volume1 and is experiencing double digit growth, so this opportunity to open a new facility in the western region of the U.S. is well-timed.
“I should also point out that Tempur-Pedic is currently growing faster than Sealy in the U.S. Our U.S. Tempur-Pedic products are not capacity constrained, as our Tempur-Pedic manufacturing facilities can produce at levels consistent with current market demand,” said Thompson.
Thompson continued, “Our team is always evaluating opportunities to improve customer service and optimize our operations. We are committed to deliver high-quality products across our broad distribution network, and believe that this facility, in conjunction with our previously announced expansions in Dallas, TX and the northeast, will support the elevated demand. Our previously disclosed 2020 capital expenditures contemplated the new facilities, which will be funded from operating cash flow.”
https://seekingalpha.com/pr/17978130-tempur-sealy-announces-third-new-manufacturing-facility
August 20, 2020
Tempur Sealy Expanding
Tempur Sealy Announces Third New Manufacturing Facility
Thu August 20, 2020 6:40 AM|PR Newswire|About: TPX PR Newswire
LEXINGTON, Ky., Aug. 20, 2020 /PRNewswire/ — Tempur Sealy International, Inc. (TPX) (NYSE: TPX, “Company” or “Tempur Sealy”) announced plans today to open its 30th North American manufacturing facility. This newest facility is expected to open on the West Coast in the first quarter of 2021 and result in three new manufacturing facilities opening within a six-month period.
Tempur Sealy Chairman and CEO Scott Thompson commented, “The strong demand for bedding, and our products specifically, has continued into the third quarter and we are optimistic about the fundamental trajectory of the business for the foreseeable future. We are facing capacity constraints on U.S. Sealy and Sherwood products that are limiting our ability to meet our customer demand. Sealy is the number one mattress manufacturer in the U.S. based on volume1 and is experiencing double digit growth, so this opportunity to open a new facility in the western region of the U.S. is well-timed.
“I should also point out that Tempur-Pedic is currently growing faster than Sealy in the U.S. Our U.S. Tempur-Pedic products are not capacity constrained, as our Tempur-Pedic manufacturing facilities can produce at levels consistent with current market demand,” said Thompson.
Thompson continued, “Our team is always evaluating opportunities to improve customer service and optimize our operations. We are committed to deliver high-quality products across our broad distribution network, and believe that this facility, in conjunction with our previously announced expansions in Dallas, TX and the northeast, will support the elevated demand. Our previously disclosed 2020 capital expenditures contemplated the new facilities, which will be funded from operating cash flow.”
https://seekingalpha.com/pr/17978130-tempur-sealy-announces-third-new-manufacturing-facility
August 19, 2020
Dow Announces MDI Increase
August 19, 2020
MDI PRICE INCREASE
Effective August 31, 2020, or as contracts allow, Dow, on behalf of itself and its applicable consolidated subsidiaries (“Dow”), will increase off-list prices by the amounts listed below on all grades and package types of the following MDI products in North America:
ISONATE US $0.04 / lb.
ISOBIND US $0.04 / lb.
PAPI US $0.04 / lb.
The increases communicated above are in addition to the $0.04/ lb. previously communicated on August 5, 2020 and represent a total increase of $0.08/ lb. effective August 31, 2020, or as contracts allow, for each of these grades referenced above.
Thank you for your continued business with Dow. Please contact your Account Manager if you have any questions related to this communication.
August 19, 2020
Dow Announces MDI Increase
August 19, 2020
MDI PRICE INCREASE
Effective August 31, 2020, or as contracts allow, Dow, on behalf of itself and its applicable consolidated subsidiaries (“Dow”), will increase off-list prices by the amounts listed below on all grades and package types of the following MDI products in North America:
ISONATE US $0.04 / lb.
ISOBIND US $0.04 / lb.
PAPI US $0.04 / lb.
The increases communicated above are in addition to the $0.04/ lb. previously communicated on August 5, 2020 and represent a total increase of $0.08/ lb. effective August 31, 2020, or as contracts allow, for each of these grades referenced above.
Thank you for your continued business with Dow. Please contact your Account Manager if you have any questions related to this communication.
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