Epoxy
June 28, 2021
RPM Acquires Dudick
RPM Acquires Dudick, Fortifies Performance Coatings Group
Contributor Zacks Equity Research Zacks Published Jun 8, 2021 10:35AM EDT
RPM International Inc.’s RPM subsidiary — Carboline — has acquired Dudick Inc., a high-performance coating, flooring systems and tank linings provider. However, the terms of the transaction have been kept under wraps.
This buyout of Dudick will enable Carboline to fortify its position in the secondary containment linings market with a well-recognized product. This deal will also expand its footprint worldwide.
Dudick, with annual revenues of $10 million, makes high-performance linings and secondary containment coatings. It provides solutions for corrosion resistance and chemical containment systems across a wide range of applications comprising food processing, steel production, chemical processing, pulp and paper, electronics, power as well as biological research labs.
Frank C. Sullivan, RPM chairman and CEO said, “Dudick will be a natural fit in our Performance Coatings Group, bringing with them a strong reputation for high-quality products and excellent service built under the leadership of Tom Dudick.”
Acquisitions to Drive Growth
Acquisitions have been an important part of RPM’s growth strategy. The company increased cash usage for investment activities by $53.8 million to $217.9 million in third-quarter fiscal 2021 from $164.1 million in the prior-year period. This upside was largely attributable to the significant acquisitions made by RPM during the first nine months of fiscal 2021. Notably, the company completed two acquisitions in March, shifting its focus on driving the top line.
The company made three buyouts in fiscal 2020, five in fiscal 2019 and seven in fiscal 2018. Acquisitions added 1.1% to net sales in fiscal 2020 and 1.4% in fiscal 2019. For the first nine months of fiscal 2021, acquisitions contributed 1.6% to sales.
https://www.nasdaq.com/articles/rpm-acquires-dudick-fortifies-performance-coatings-group-2021-06-08
June 25, 2021
Chemical Grade Propylene Settles Up 4c/lb
June CGP is $0.725/lb
June 25, 2021
Chemical Grade Propylene Settles Up 4c/lb
June CGP is $0.725/lb
June 24, 2021
BASF Invests in Wind
BASF buys 49.5% of Vattenfall Dutch offshore wind farm for €300M
Jun. 24, 2021 9:17 AM ETBASF SE (BASFY)By: Carl Surran, SA News Editor1 Comment
- BASF (OTCQX:BASFY) agrees to acquire a 49.5% stake in the Hollandse Kust Zuid offshore wind farm from Swedish utility Vattenfall for €300M ($358M), as the company raises its investments in renewable energy to offset carbon emissions at production sites across Europe.
- Construction of the wind farm will start in July, with the project expected to become fully operational in 2023, pending approval by authorities.
- The project, which includes 140 wind turbines and a total capacity of 1.5 GW, will become the world’s largest wind farm and supply power to BASF’s plant in Antwerp, Belgium, and other European sites.
- BASF and German utility RWE last month announced a potential €4B offshore wind project.
June 24, 2021
BASF Invests in Wind
BASF buys 49.5% of Vattenfall Dutch offshore wind farm for €300M
Jun. 24, 2021 9:17 AM ETBASF SE (BASFY)By: Carl Surran, SA News Editor1 Comment
- BASF (OTCQX:BASFY) agrees to acquire a 49.5% stake in the Hollandse Kust Zuid offshore wind farm from Swedish utility Vattenfall for €300M ($358M), as the company raises its investments in renewable energy to offset carbon emissions at production sites across Europe.
- Construction of the wind farm will start in July, with the project expected to become fully operational in 2023, pending approval by authorities.
- The project, which includes 140 wind turbines and a total capacity of 1.5 GW, will become the world’s largest wind farm and supply power to BASF’s plant in Antwerp, Belgium, and other European sites.
- BASF and German utility RWE last month announced a potential €4B offshore wind project.
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