Company News

December 7, 2019

An Older Interview Republished

14th March 2018, Paris

Interview with Juan Antonio Merino, Olin Epoxy

Inside Composites talks to Juan Antonio Merino, Olin area president for Europe, the Middle East, Asia and India, at JEC World in Paris.

 

Juan Antonio Merino: Olin as a name is perhaps not as well-known in the composites sector here in Europe as it will become in the next few years, because following the acquisition of Dow Chemical’s US Gulf Coast Chlor Alkali and global chlorinated organics and global epoxy businesses in 2015, we have become the biggest manufacturer of these products, including epoxy resin systems. And we have a 125-year history of know-how and experience to build on.

Juan Antonio Merino, Olin area president for Europe, the Middle East, Asia and India. © Olin

Olin globally now has an annual turnover of more than $6 billion, with 6,300 employees and regional headquarters in Zug, Switzerland, for Europe, the Middle East, Africa and India. The company employs over 650 professionals in its European offices, research and innovation centres and manufacturing locations in Baltringen, Rheinmunster and Stade in Germany, Pisticci in Italy and Terneuzen in the Netherlands. As a global company, we also have manufacturing operations in North America, Latin America and Asia. Around 15% of the epoxy we manufacture goes to the composites industry and we see the potential for significant growth.

What are your key epoxy brands for the composites industry?

JAM: Our Airstone and Litestone epoxy composite systems, which we tailor to meet industry and environmental conditions specific to customer design, fabrication and system integration requirements. They provide advantages for a variety of composite manufacturing methods, including hand lay-up, infusion, pultrusion, filament winding, prepreg, SMC/BMC, resin transfer moulding, tooling and more. These are tested systems providing enhanced resistance to temperature extremes and chemicals, improved fatigue resistance, faster cure for improved productivity and reliability, for lower cost of ownership.

At JEC World 2018, you were the sole sponsor of the Building Planet exhibition. What were your key aims with this impressive showcase?

JAM: We have a really strong position in the wind power sector, but feel that there are still huge opportunities for composites within the building and construction industry, and in meeting other future infrastructural requirements, that are not yet being fully grasped. Our intention was to attract the major OEMs and suppliers from this sector to the show, in order to meet and discuss the latest developments.

The company developed a new rebar with its partners for concrete reinforcement. © Olin

What innovations did you highlight?

JAM: We are excited about the new rebar we have developed with our customers for concrete reinforcement, which is based on basalt fibre and as such offers an improved corrosion resistance to alkali over steel. In addition it can be coiled, unlike glass fibre. We’ve also improved the finishing so the product doesn’t need to be coated while also enhancing the strength and thermal insulation it provides. And of course, composite rebar is much lighter than steel. Here at JEC World our manufacturing customer No Rust Rebar is introducing a product with a helical twist for better adhesion to the concrete which can be made in long lengths and coiled for shipment to the job site. This will lead to tremendous advantages in terms of both transportation and installation. There is a huge market out there which composites can become a much bigger part of.

Also in the pipeline, is the development of rebar which has sufficient flame retardancy to enable it to be used in the residential market.

Another interesting development related to this is the patent-pending anti-seismic C Spring we have jointly developed with Sardou SAS, using its proprietary Eposil additive mixed with our Litestone epoxy. This composite base insulation system is intended for use as the basis for earthquake-resistant architectural structures. The springs provide high fracture toughness and hardly age, meaning less maintenance and increased safety and sustainability for buildings.

The company made a series of epoxy resin systems for use in fabricating composite pressure vessels that store compressed natural gas (CNG) and liquefied petroleum gas (LPG). © Olin

And you’ve also made advances in the development of composite pressure vessels?

JAM: Yes, we have a series of epoxy resin systems for use in fabricating composite pressure vessels that store compressed natural gas (CNG) and liquefied petroleum gas (LPG) and we’ve introduced a new toughening technology allowing us to now enable 700 bar pressure vessels, meaning the latest products are suitable for hydrogen transportation and storage. We know the petrochemicals industry generates a lot of hydrogen waste. Our toughening technology can enable pressure vessels suitable for hydrogen and thereby make huge logistical and energy savings possible. There is huge potential in this.

In addition, there is also an increasing demand for lightweight alternative fuel storage systems with improved fuel economy, reduced corrosion and improved overall safety that composites can provide for many applications, including fuel cell powered electric cars. Hydrogen is the only answer here.

All in all, we’re pretty excited about the range of new product developments we’re currently involved in.

https://www.insidecomposites.com/talking-heads/interview-with-juan-antonio-merino-olin-epoxy/

 

December 6, 2019

More Spray Foam Consolidation

Huntsman Announces the Acquisition of Icynene-Lapolla, Expanding its Downstream Footprint in Spray Polyurethane Foam Insulation

THE WOODLANDS, Texas, Dec. 5, 2019 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today announces its agreement to acquire Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC.

Icynene-Lapolla has annual revenues of approximately $230 million with two manufacturing facilities located in Houston, Texas and Mississauga, Ontario.  Under terms of the agreement, Huntsman will pay $350 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity.  Based on full year 2019 adjusted EBITDA estimates, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or approximately 7 times adjusted EBITDA pro forma for synergies.  The transaction is expected to close in the first half of 2020.

Commenting on the acquisition, Tony Hankins, President of Huntsman’s Polyurethanes division, said: “I am delighted that Icynene-Lapolla is joining our downstream, high-growth MDI urethanes insulation business.  Icynene-Lapolla is well recognized by architects, builders and contractors as a market leader in the manufacture and supply of high-performance, energy-efficient building envelope solutions.  Almost half of all energy consumption is used in the heating and cooling of buildings, making the choice of insulation critical.  SPF is the most effective insulant available in the market.  The combination of Icynene-Lapolla, with its SPF product range and reflective roof coatings, with Demilec, the SPF business we acquired in 2018, will significantly strengthen our energy-saving insulation business and provide customers with an unmatched offering of choice while accelerating the globalization of our spray foam technology.” 

Peter Huntsman, Chairman, President and CEO further commented: “As the demand for energy efficiency continues to grow, both in residential and commercial construction, this combination of companies will provide Huntsman with the largest global array of spray foam technology, integration of raw materials and associates.  This is the size and type of downstream assets that we will continue to add to our Company as we strengthen margins, move downstream and be less reliant on a single product or application.”

https://ir.huntsman.com/news-releases/detail/424/huntsman-announces-the-acquisition-of-icynene-lapolla

December 6, 2019

More Spray Foam Consolidation

Huntsman Announces the Acquisition of Icynene-Lapolla, Expanding its Downstream Footprint in Spray Polyurethane Foam Insulation

THE WOODLANDS, Texas, Dec. 5, 2019 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) today announces its agreement to acquire Icynene-Lapolla, a leading North American manufacturer and distributor of spray polyurethane foam (SPF) insulation systems for residential and commercial applications, from an affiliate of FFL Partners, LLC.

Icynene-Lapolla has annual revenues of approximately $230 million with two manufacturing facilities located in Houston, Texas and Mississauga, Ontario.  Under terms of the agreement, Huntsman will pay $350 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity.  Based on full year 2019 adjusted EBITDA estimates, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or approximately 7 times adjusted EBITDA pro forma for synergies.  The transaction is expected to close in the first half of 2020.

Commenting on the acquisition, Tony Hankins, President of Huntsman’s Polyurethanes division, said: “I am delighted that Icynene-Lapolla is joining our downstream, high-growth MDI urethanes insulation business.  Icynene-Lapolla is well recognized by architects, builders and contractors as a market leader in the manufacture and supply of high-performance, energy-efficient building envelope solutions.  Almost half of all energy consumption is used in the heating and cooling of buildings, making the choice of insulation critical.  SPF is the most effective insulant available in the market.  The combination of Icynene-Lapolla, with its SPF product range and reflective roof coatings, with Demilec, the SPF business we acquired in 2018, will significantly strengthen our energy-saving insulation business and provide customers with an unmatched offering of choice while accelerating the globalization of our spray foam technology.” 

Peter Huntsman, Chairman, President and CEO further commented: “As the demand for energy efficiency continues to grow, both in residential and commercial construction, this combination of companies will provide Huntsman with the largest global array of spray foam technology, integration of raw materials and associates.  This is the size and type of downstream assets that we will continue to add to our Company as we strengthen margins, move downstream and be less reliant on a single product or application.”

https://ir.huntsman.com/news-releases/detail/424/huntsman-announces-the-acquisition-of-icynene-lapolla

December 4, 2019

Covestro to Buy Robinson Township from Bayer

Covestro to purchase Robinson Township campus

Covestro campus in Robinson Township
Covestro LLC entered into an agreement with Bayer Corporation to purchase the Robinson Township campus, which has served as Covestro’s U.S. headquarters for more than 60 years.

Pittsburgh, December 4, 2019 — Covestro LLC has entered into an agreement with Bayer Corporation to purchase Bayer’s Robinson Township campus in Pittsburgh, which is home to Covestro’s U.S. headquarters.

The change in ownership is planned for December 31, 2020.

Covestro has about 750 employees at the Robinson campus, which includes sales and marketing, administrative, and research and development functions. Bayer separated its material science business, rebranded Covestro, in 2015.

“Not only does Pittsburgh share our passion for innovation and sustainability, but this region also offers a number of strategic advantages to help grow our business – access to world-class talent, a thriving innovation community and a strong customer base,” said Haakan Jonsson, president of Covestro LLC.

“With this purchase, we’ll reinforce our commitment to the region that has served us well for more than six decades,” he added. “Our employees are as much a part of the Pittsburgh community as it is a part of Covestro – and we couldn’t be more proud to continue building our future here.”

About Covestro LLC:

Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business, which is among the world’s largest polymer companies with 2018 sales of EUR 14.6 billion. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, electrical and electronics, and healthcare industries. Other sectors include sports and leisure, cosmetics and the chemical industry itself. Covestro has 30 production sites worldwide and employed approximately 16,800 people at the end of 2018.

Find more information at www.covestro.us.

https://www.covestro.us/media/news-releases/2019-news-releases/2019-12-04-covestro-campus

December 4, 2019

Covestro to Buy Robinson Township from Bayer

Covestro to purchase Robinson Township campus

Covestro campus in Robinson Township
Covestro LLC entered into an agreement with Bayer Corporation to purchase the Robinson Township campus, which has served as Covestro’s U.S. headquarters for more than 60 years.

Pittsburgh, December 4, 2019 — Covestro LLC has entered into an agreement with Bayer Corporation to purchase Bayer’s Robinson Township campus in Pittsburgh, which is home to Covestro’s U.S. headquarters.

The change in ownership is planned for December 31, 2020.

Covestro has about 750 employees at the Robinson campus, which includes sales and marketing, administrative, and research and development functions. Bayer separated its material science business, rebranded Covestro, in 2015.

“Not only does Pittsburgh share our passion for innovation and sustainability, but this region also offers a number of strategic advantages to help grow our business – access to world-class talent, a thriving innovation community and a strong customer base,” said Haakan Jonsson, president of Covestro LLC.

“With this purchase, we’ll reinforce our commitment to the region that has served us well for more than six decades,” he added. “Our employees are as much a part of the Pittsburgh community as it is a part of Covestro – and we couldn’t be more proud to continue building our future here.”

About Covestro LLC:

Covestro LLC is one of the leading producers of high-performance polymers in North America and is part of the global Covestro business, which is among the world’s largest polymer companies with 2018 sales of EUR 14.6 billion. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, electrical and electronics, and healthcare industries. Other sectors include sports and leisure, cosmetics and the chemical industry itself. Covestro has 30 production sites worldwide and employed approximately 16,800 people at the end of 2018.

Find more information at www.covestro.us.

https://www.covestro.us/media/news-releases/2019-news-releases/2019-12-04-covestro-campus