Company News
June 19, 2020
BASF Comments
BASF says would challenge any takeover attempt, activist investor
Jun. 18, 2020 11:31 AM ET|About: BASF SE (BASFY)|By: Carl Surran, SA News Editor
BASF (OTCQX:BASFY +2.4%) is aware of the risk of an unsolicited takeover approach or an attack from activist investors and is ready to react, CEO Martin Brudermueller said at the company’s virtual annual shareholders meeting.
The CEO said he could not rule out unwanted attempts to take control of the company, given the decline in its market value.
BASF also reiterates it sees Q2 operating profit in the low triple-digit millions of euros and that it will not provide full-year guidance; the company sees business improvement during 2020 but no full recovery.
June 19, 2020
BASF Comments
BASF says would challenge any takeover attempt, activist investor
Jun. 18, 2020 11:31 AM ET|About: BASF SE (BASFY)|By: Carl Surran, SA News Editor
BASF (OTCQX:BASFY +2.4%) is aware of the risk of an unsolicited takeover approach or an attack from activist investors and is ready to react, CEO Martin Brudermueller said at the company’s virtual annual shareholders meeting.
The CEO said he could not rule out unwanted attempts to take control of the company, given the decline in its market value.
BASF also reiterates it sees Q2 operating profit in the low triple-digit millions of euros and that it will not provide full-year guidance; the company sees business improvement during 2020 but no full recovery.
June 19, 2020
Synthesia to Build Polyester Polyol Plant in Poland
Synthesia: New polyester polyol production facility in Poland
Synthesia Technology Europe has confirmed as of 12 June 2020 that plans to invest in a new, large capacity production facility in Poland are at an advanced stage.
The new polyester polyol production facility will feature state of the art production and logistics processes and will facilitate manufacturing of polyols based on recycled PET, a technology in which Synthesia is considered a world leader, so the company. In addition to the polyester polyol production, the new facility will also contain a systems house for manufacturing of blend polyols and PU systems.
CEO of Synthesia Group, David Palleja, says: “An ever-increasing demand for our high-quality products means that we need new production capacity and Poland is a logical location for our new plant. It is close to our most important customers in Europe and it will give us a very competitive manufacturing footprint to capture the expected growth in our exciting industry in the coming years”.
The exact capacity of the new facility, the selected location and the expected opening date have not yet been revealed by Synthesia.
June 19, 2020
Synthesia to Build Polyester Polyol Plant in Poland
Synthesia: New polyester polyol production facility in Poland
Synthesia Technology Europe has confirmed as of 12 June 2020 that plans to invest in a new, large capacity production facility in Poland are at an advanced stage.
The new polyester polyol production facility will feature state of the art production and logistics processes and will facilitate manufacturing of polyols based on recycled PET, a technology in which Synthesia is considered a world leader, so the company. In addition to the polyester polyol production, the new facility will also contain a systems house for manufacturing of blend polyols and PU systems.
CEO of Synthesia Group, David Palleja, says: “An ever-increasing demand for our high-quality products means that we need new production capacity and Poland is a logical location for our new plant. It is close to our most important customers in Europe and it will give us a very competitive manufacturing footprint to capture the expected growth in our exciting industry in the coming years”.
The exact capacity of the new facility, the selected location and the expected opening date have not yet been revealed by Synthesia.
June 17, 2020
Tempur Sealy Guidance Improves
Tempur-Sealy +3% after setting guidance ahead of expectations
Shares of Tempur-Sealy (NYSE:TPX) break higher after the company provides a guidance update.
Tempur-Sealy expects Q2 sales growth of -15% vs. -30% prior outlook and -32% consensus.
The company also anticipates recording at least $50M of unadjusted EBITDA in Q2 and to report a ratio of consolidated indebtedness less netted cash to adjusted EBITDA within the target range of 2.5X-3.5X.
https://seekingalpha.com/news/3583705-tempur-sealyplus-3-after-setting-guidance-ahead-of-expectations?utm_medium=email&utm_source=seeking_alpha&mail_subject=tpx-tempur-sealy-3-after-setting-guidance-ahead-of-expectations&utm_campaign=rta-stock-news&utm_content=link-3
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