Epoxy

May 18, 2022

Bad Quarter for Sadara

Saudi-US chemical JV Sadara’s profit slips 97% on higher feedstock costs

Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.

Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.

RIYADH: Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a 97 percent drop in profit in the first quarter as compared to the same quarter a year earlier.

On the back of higher feedstock prices, profits of the giant JV went down from SR1.6 billion ($431 million) to SR45.9 million, a bourse filing showed.

The decline in profit was coupled with a revenue drop of over 11 percent to SR3.9 billion during the quarter.

Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.

However, it highlighted that selling prices were higher compared to the same quarter last year. 

https://www.arabnews.com/node/2083886/business-economy

May 18, 2022

Bad Quarter for Sadara

Saudi-US chemical JV Sadara’s profit slips 97% on higher feedstock costs

Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.

Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.

RIYADH: Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a 97 percent drop in profit in the first quarter as compared to the same quarter a year earlier.

On the back of higher feedstock prices, profits of the giant JV went down from SR1.6 billion ($431 million) to SR45.9 million, a bourse filing showed.

The decline in profit was coupled with a revenue drop of over 11 percent to SR3.9 billion during the quarter.

Specialized in producing a wide range of specialty chemicals, the company said its profits were hit by an increase in feedstock costs.

However, it highlighted that selling prices were higher compared to the same quarter last year. 

https://www.arabnews.com/node/2083886/business-economy

May 18, 2022

Master Terrazzo Acquired by MTT Investment

PRESS RELEASE – FOR IMMEDIATE RELEASE


Levittown PA – MTT Investment Group LLC, a private investment group managed by Michael F. Blackburn (“MTT
Investment Group”) is pleased to announce the acquisition of Master Terrazzo Technologies and related
companies.

Master Terrazzo is a leading, Pennsylvania-based manufacturer and distributor of terrazzo products including Morricite™
Thin-Set Epoxy Terrazzo and other components for terrazzo flooring, utilized in commercial construction applications. The
Morricite™ brand has an over 60-year history. Master Terrazzo provides support to architects and designers, and partners
with qualified terrazzo installers throughout the USA and other parts of the world. The terms of the transaction have not
been disclosed.


Jim Guy, President and CEO of Master Terrazzo, commented,
I would like to thank all of you who have helped us to grow the name of Master Terrazzo Technologies. First of all, I would
like to thank the great employees that we have had over the years. There should be no question, we have been a great
family. I would also like to thank our customers, the best contractors in the world. We are grateful for your trust in us, and
we thank you for your expertise. We are grateful for the vendors who have done so much for us, especially those who have
taken a special interest in us and have gone above and beyond to keep us supplied with the products we need. But, most
of all, I am indebted to my LORD who has guided my life and helped me through it all. I am happy and excited to introduce
MTT Investment Group as the new owners of Master Terrazzo Technologies. In a different category, I thank my wife Monica
who was always with me in the good and bad. And to my children, all who have worked with me in my early days, and who
still laugh with me about the times that we worked together.


Michael Blackburn, President of MTT Investment Group commented,
After more than 15 years at Master Terrazzo, I could not be more enthusiastic about this opportunity to continue the growth
and mission of this fine company. The legacy of Master Terrazzo can be seen in the millions of square feet of projects
completed throughout the nation and in other parts of the world, which is a direct result of providing the finest terrazzo
system available to our certified installer network, which is second to none.


Above all else, my goal will be to provide the premier terrazzo system to the finest terrazzo installers, and to offer
outstanding customer service and support to our architectural and design clients, and to our terrazzo installers. Selecting
terrazzo should always be gratifying experience for architects, designers and building owners; there is no finer floor finish.
About Master Terrazzo Technologies


Throughout several transitions since the 1960’s, Master Terrazzo Technologies has been perfecting the science of the
design and installation of terrazzo.


In 1960, the MacNaughton-Brooks Company formulated and introduced Morricite™ to the terrazzo industry. Morricite™ was
named after Port Morris Tile and Marble, in respect for their valued contribution in the early product development.
Master Builders Technologies, worldwide leaders in admixture technology, purchased the MacNaugton-Brooks Company in
1978, and Master Terrazzo Technologies, LLC purchased the Morricite™ product line in 1997, with a commitment to provide
innovation and leadership through a total commitment of resources to the terrazzo industry.

In 2008, Master Terrazzo Technologies was purchased by Consolidated Coatings, Inc. This acquisition resulted from CCI’s
long-term interest in the terrazzo business. Following the acquisition, Michael H. Blackburn (father of Michael F Blackburn),
a prior owner of MTT with over 20 years of experience in the terrazzo industry, remained with MTT as National Sales
Manager.


Master Terrazzo Technologies has provided materials for many millions of square feet of quality terrazzo installations
throughout the world. The foundation of any epoxy terrazzo manufacturer is the terrazzo matrix that binds the aggregate
and bonds the terrazzo to the concrete substrate. Our flagship Morricite™ System has a rich history of performance and
value dating back for over 60 years.


Learn More: https://masterterrazzo.com/


About MTT Investment Group


MTT investment Group includes longtime members of the Terrazzo community including Michael F. Blackburn (President),
Joseph Wenzke, (Plant Manager) and Louis Giannini (Founder of ProTerrazzo Systems, Inc). The Team is looking forward
bringing Master Terrazzo to its full potential of success.


Michael F. Blackburn has worked up the ranks at Master Terrazzo from Customer Service Representative to National Sales
Manager. Michael’s leadership is based on extensive technical knowledge and practical experience in the industry.
Additionally, Plant Manager Joseph Wenzke has worked in the terrazzo industry for over 20 years. His passion for terrazzo
and his high standards for quality control will continue the legacy of the Master Terrazzo brand.


Louis Giannini has worked in partnership with Master Terrazzo for 10 years representing MTT’s terrazzo products in the
Northeast. Lou is looking forward to support the growth of the company.


May 18, 2022

Master Terrazzo Acquired by MTT Investment

PRESS RELEASE – FOR IMMEDIATE RELEASE


Levittown PA – MTT Investment Group LLC, a private investment group managed by Michael F. Blackburn (“MTT
Investment Group”) is pleased to announce the acquisition of Master Terrazzo Technologies and related
companies.

Master Terrazzo is a leading, Pennsylvania-based manufacturer and distributor of terrazzo products including Morricite™
Thin-Set Epoxy Terrazzo and other components for terrazzo flooring, utilized in commercial construction applications. The
Morricite™ brand has an over 60-year history. Master Terrazzo provides support to architects and designers, and partners
with qualified terrazzo installers throughout the USA and other parts of the world. The terms of the transaction have not
been disclosed.


Jim Guy, President and CEO of Master Terrazzo, commented,
I would like to thank all of you who have helped us to grow the name of Master Terrazzo Technologies. First of all, I would
like to thank the great employees that we have had over the years. There should be no question, we have been a great
family. I would also like to thank our customers, the best contractors in the world. We are grateful for your trust in us, and
we thank you for your expertise. We are grateful for the vendors who have done so much for us, especially those who have
taken a special interest in us and have gone above and beyond to keep us supplied with the products we need. But, most
of all, I am indebted to my LORD who has guided my life and helped me through it all. I am happy and excited to introduce
MTT Investment Group as the new owners of Master Terrazzo Technologies. In a different category, I thank my wife Monica
who was always with me in the good and bad. And to my children, all who have worked with me in my early days, and who
still laugh with me about the times that we worked together.


Michael Blackburn, President of MTT Investment Group commented,
After more than 15 years at Master Terrazzo, I could not be more enthusiastic about this opportunity to continue the growth
and mission of this fine company. The legacy of Master Terrazzo can be seen in the millions of square feet of projects
completed throughout the nation and in other parts of the world, which is a direct result of providing the finest terrazzo
system available to our certified installer network, which is second to none.


Above all else, my goal will be to provide the premier terrazzo system to the finest terrazzo installers, and to offer
outstanding customer service and support to our architectural and design clients, and to our terrazzo installers. Selecting
terrazzo should always be gratifying experience for architects, designers and building owners; there is no finer floor finish.
About Master Terrazzo Technologies


Throughout several transitions since the 1960’s, Master Terrazzo Technologies has been perfecting the science of the
design and installation of terrazzo.


In 1960, the MacNaughton-Brooks Company formulated and introduced Morricite™ to the terrazzo industry. Morricite™ was
named after Port Morris Tile and Marble, in respect for their valued contribution in the early product development.
Master Builders Technologies, worldwide leaders in admixture technology, purchased the MacNaugton-Brooks Company in
1978, and Master Terrazzo Technologies, LLC purchased the Morricite™ product line in 1997, with a commitment to provide
innovation and leadership through a total commitment of resources to the terrazzo industry.

In 2008, Master Terrazzo Technologies was purchased by Consolidated Coatings, Inc. This acquisition resulted from CCI’s
long-term interest in the terrazzo business. Following the acquisition, Michael H. Blackburn (father of Michael F Blackburn),
a prior owner of MTT with over 20 years of experience in the terrazzo industry, remained with MTT as National Sales
Manager.


Master Terrazzo Technologies has provided materials for many millions of square feet of quality terrazzo installations
throughout the world. The foundation of any epoxy terrazzo manufacturer is the terrazzo matrix that binds the aggregate
and bonds the terrazzo to the concrete substrate. Our flagship Morricite™ System has a rich history of performance and
value dating back for over 60 years.


Learn More: https://masterterrazzo.com/


About MTT Investment Group


MTT investment Group includes longtime members of the Terrazzo community including Michael F. Blackburn (President),
Joseph Wenzke, (Plant Manager) and Louis Giannini (Founder of ProTerrazzo Systems, Inc). The Team is looking forward
bringing Master Terrazzo to its full potential of success.


Michael F. Blackburn has worked up the ranks at Master Terrazzo from Customer Service Representative to National Sales
Manager. Michael’s leadership is based on extensive technical knowledge and practical experience in the industry.
Additionally, Plant Manager Joseph Wenzke has worked in the terrazzo industry for over 20 years. His passion for terrazzo
and his high standards for quality control will continue the legacy of the Master Terrazzo brand.


Louis Giannini has worked in partnership with Master Terrazzo for 10 years representing MTT’s terrazzo products in the
Northeast. Lou is looking forward to support the growth of the company.


May 16, 2022

BASF Increasing NPG Prices

BASF to increase prices for select polyalcohols in North and South America

FLORHAM PARK, NJ, May 16, 2022 – Effective June 1, 2022, or as existing contracts permit, BASF will increase prices in North and South America for select polyalcohols.  

Product  Price Increase
Neopentylglycol (NEOL®/NPG)  $0.05/lb$110/mt
1,6 Hexanediol Flake (HDO®)  $0.20/lb$441/mt
1,6 Hexanediol Molten (HDO®)  $0.20/lb$441/mt
Polycaprolactone (Capromer®)  $0.20/lb$441/mt
epsilon-Caprolactone (CLO)  $0.20/lb$441/mt
1,5-Pentanediol (PDO)  $0.20/lb$441/mt

Neopentylglycol (NPG) is a unique polyalcohol offering superior performance in many end-use applications. Due to its high chemical and thermal stability, NPG has proven itself in many applications, especially as a building block for the production of polyester and alkyd resins for various coatings and plastics. An essential field of NPG application is powder coatings, which prove particularly successful in the construction industry as well as in the coating of household appliances. Other areas of application for NPG include the manufacture of lubricants, plasticizers and pharmaceuticals: It is used as a building block in the synthesis of for example hormones, cardiovascular drugs and painkillers. BASF markets NPG under its NEOL® brand.

Hexanediol (HDO) is used to manufacture industrial coatings including lower volatile organic compound formulations, polyurethanes, adhesives, and cosmetics. HDO also serves as a reactive thinner in the formulation of epoxy systems, which for example are used for the efficient production of rotor blades for modern wind turbines, as well as construction components for automotive lightweight applications.

1,5-Pentanediol (PDO) is used as a linear diol to produce various resin types like polyester and polyurethane (polyester polyol and polycarbonate diol) resins. These resins are used for example in the production of adhesives and sealants. PDO is also used in the production of coatings where PDO contributes to a good balance between hardness and flexibility, adhesion, weatherability and hydrolysis resistance.

Capromer® polycaprolactone is a specialty polyol for high performance polyurethane applications for example thermoplastic elastomers used in technical applications and coatings.

NEOL®, HDO® and Capromer® are registered trademarks of BASF Corporation.  

https://www.basf.com/us/en/media/market-news-/2022/basf-to-increase-prices-for-select-polyalcohols-in-north-and-sou.html