Company News
April 10, 2023
Job Swap
Personnel changes at BASF
MOSCOW (MRC) — The Board of Executive Directors of BASF SE has decided on the following personnel changes, said the company.
Tobias Dratt (50), President, North America, BASF Corporation, Florham Park, New Jersey, will assume responsibility for the Division Global Business Services, Ludwigshafen, Germany, effective May 1, 2023.
Marc Ehrhardt (54), President, Global Business Services, Ludwigshafen, will, at the same time, assume responsibility for the Division North America, BASF Corporation, Florham Park, New Jersey.
We remind, BASF will establish compounding capacities for its certified compostable biopolymer ecovio in Shanghai, China, said the company. Upon the successful completion of qualification trials, commercial material quantities will be available for customers throughout the region Asia-Pacific from mid-2023.
https://www.mrchub.com/news/407096-personnel-changes-at-basf
April 6, 2023
SSB Update
Serta Simmons Bedding, LLC
Case # 23-90020
Judge David R. Jones
Jurisdiction Texas – Southern District
Filed Jan 23 2023
Manufacturing
- Overview
- Dockets
- Claims
- Key Documents
- Adv. Proceedings
Case Information
On January 23, 2023, Serta Simmons Bedding, LLC and thirteen (13) U.S. affiliate companies (collectively, the “Debtors”) each filed petitions in the United States Bankruptcy Court for the Southern District of Texas seeking relief under chapter 11 of the United States Bankruptcy Code. The Debtors’ cases have been assigned to Judge David R. Jones. The Debtors cases are jointly administered for procedural purposes, meaning that all pleadings are maintained on the case docket for Serta Simmons Bedding, LLC, Case No. 23-90020 (the “Main Case Docket”). The Main Case Docket can be accessed through the website maintained by the United States Bankruptcy Court for the Southern District of Texas (https://www.txs.uscourts.gov). An unofficial version of the Main Case Docket is accessible by selecting the “Dockets” tab above.View Less
Case Actions
- Proof of Claim Form
- File a Claim
- E-Ballot
- E-Opt Out
- Docket Alerts
- Service List
- Submit Inquiry
- RSS Feeds
Equity Transfer Procedure Documents
• Notice of Substantial Stock Ownership
• Notice of Intent to Purchase, Acquire or Otherwise Accumulate Dawn Stock
• Notice of Intent to Sell, Trade or Otherwise Transfer Dawn Stock
• Declaration of Intent to Claim a Worthless Stock DeductionView Less
Press Release
Restructuring Information
The company is operating as normal and is serving retail partners and sleepers as usual. SSB’s manufacturing facilities are fulfilling orders, and the company is continuing to work with suppliers and vendors in the ordinary course of business. SSB also has meaningful launches planned for this year from Serta and Beautyrest.
For information and inquiries about this matter, please call the numbers listed below. U.S.-based parties should use the toll free number below. International parties should use the non-U.S. number below.
Toll Free U.S. #: (877) 618-5414
Non U.S. #: +1 (503) 966-3043
Additional information regarding the court-supervised process is available on SSB’s restructuring website, www.SSBRestructuring.com.
Supplier Frequently Asked QuestionsView Less
Key Dates
23
JAN
10:02 PM CT
2023
ADD TO CALENDAR
24
JAN
01:00 PM CT
2023
ADD TO CALENDAR
27
JAN
03:30 PM CT
2023
ADD TO CALENDAR
1
FEB
12:00 PM CT
2023
Continued Scheduling Conference
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1
MAR
01:00 PM CT
2023
ADD TO CALENDAR
14
MAR
10:00 AM CT
2023
ADD TO CALENDAR
16
MAR
05:00 PM CT
2023
ADD TO CALENDAR
23
MAR
09:00 AM CT
2023
ADD TO CALENDAR
29
MAR
10:00 AM CT
2023
ADD TO CALENDAR
5
APR
01:45 PM CT
2023
ADD TO CALENDAR
1
MAY
04:00 PM CT
2023
ADD TO CALENDAR
8
MAY
09:00 AM CT
2023
Confirmation Hearing; Final Hearing re: Cash Management Motion
ADD TO CALENDAR
22
JUL
05:00 PM CT
2023
ADD TO CALENDAR
Section 341 Meeting of Creditors
Pursuant to Section 341 of the Bankruptcy Code, a meeting of creditors was held telephonically on March 14, 2023 at 10:00 a.m. (CT).
Notice of Chapter 11 Bankruptcy Case [Docket No. 187]
Debtors (14)
Lead Debtor 23-90020 Serta Simmons Bedding, LLC
Related Debtors
23-90019
Dawn Intermediate, LLC
23-90024
Dreamwell, Ltd.
23-90022
National Bedding Company L.L.C.
23-90021
Serta International Holdco, LLC
23-90027
Simmons Bedding Company, LLC
23-90025
SSB Hospitality, LLC
23-90026
SSB Logistics, LLC
23-90018
SSB Manufacturing Company
23-90030
SSB Retail, LLC
23-90023
The Simmons Manufacturing Co., LLC
23-90029
Tomorrow Sleep LLC
23-90028
Tuft & Needle, LLC
23-90031
World of Sleep Outlets, LLC
Dawn Holdings, Inc., Serta, Inc., Serta Canada Ltd., SSH Canada Holding Co., LLC, SSH Bedding Canada Co., and Simmons Caribbean Bedding, Inc. are not part of the filing.
April 6, 2023
Recticel Update
Update regarding the divestment of Recticel Engineered Foams to Carpenter
Regulated information, Brussels, 06/04/2023 — 06:59 CET, 06.04.2023
Recticel reports that the closing of the Engineered Foams divestment to Carpenter Co. has not taken place at the end of March 2023.
Parties continue to work towards a closing to take place as soon as possible.
https://www.recticel.com/update-regarding-divestment-recticel-engineered-foams-carpenter.html
March 28, 2023
Mitsui Reducing TDI Capacity
Mitsui Chemicals : to Optimize TDI Production Capacity
03/28/2023 | 12:48am EDT
2023.03.28
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: HASHIMOTO Osamu) today announced plans to optimize the production capacity of its Omuta Works’ toluene diisocyanate (TDI) plant in July 2025. TDI is used as a raw material in the production of polyurethane.
1. Objectives and Background
Mitsui Chemicals currently manufactures and sells TDI (Production capacity 120,000 tons per annual) for use as a basic material in the isocyanate chain at the Omuta Works. However, given supply and demand trends in Japan and overseas, Mitsui Chemicals has decided that a reduced output of around 50,000 tons per year will be optimal going forward.
While maintaining a stable supply setup to meet domestic demand for TDI, the Omuta Works will contribute to expansion in growth domains as part of Mitsui Chemicals’ business portfolio transformation by bolstering competitiveness as the company’s principal center for the manufacture of high-performance products, including ophthalmic lens materials and agrochemical products. 【Overview of the TDI plant】
| Manufacturing facility | Mitsui Chemicals Omuta Works (https://jp.mitsuichemicals.com/en/corporate/ds/works.htm) |
| Production capacity | 120,000 tons/year (currently) → around 50,000 tons/year (following optimization) |
| Timing | Planned for July 2025 |
The TDI plant in Omuta Works 2. Future of the Polyurethane Business
As part of its VISION 2030 Long-Term Business Plan, Mitsui Chemicals positioned polyurethane as one of several businesses in the Basic & Green Materials Business Sector that would be subject to restructuring.
In addition to the forthcoming optimization of TDI production capacity, the restructure will encompass the development of high value-added products, including high-performance methylene diphenyl diisocyanate and high-performance polyols such as polypropylene glycol. Pursuing these efforts will allow Mitsui Chemicals to reduce earnings volatility, improve capital investment efficiency and lay the business foundations for generating stable earnings.
Mitsui Chemicals also intends to bring about a circular economy transformation by setting up a chemical recycling scheme for polyurethane foam and considering the use of ISCC PLUS-certified bio-based toluene produced at the Osaka Works to manufacture greener TDI.
March 27, 2023
Covestro Commissions Two Low Water Ships
Newest low-water ship now in operation
23.03.2023
HKG Shipping (Cologne) and materials manufacturer Covestro commissioned a new low-water vessel earlier this month. “Courage” is to supply Covestro’s customers with finished products from its sites in North Rhine-Westphalia with immediate effect.
The identically constructed sister ship “Curiosity” will be delivered in a few weeks’ time. At the beginning of May 2023, HGK Shipping and Covestro plan to celebrate the addition to the fleet with a double christening ceremony.
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