Epoxy
October 21, 2021
Milliken Acquires Encapsys
Milliken & Company Acquires Encapsys, LLC
October 18, 2021 03:38 PM Eastern Daylight Time
SPARTANBURG, S.C.–(BUSINESS WIRE)–Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of materials science expertise, has formally acquired Encapsys, LLC (“Encapsys”), a world leader in microencapsulation, from the Cypress Performance Group LLC (“Cypress”). The transaction officially closed October 18, 2021.
“Our culture and values are a perfect fit, and we look forward to leveraging Milliken’s global capabilities to accelerate innovation and growth.”Tweet this
“Moving the needle on sustainability requires big thinking and powerful collaborations. We’re thrilled to welcome Encapsys to Milliken,” said Halsey Cook, president and CEO for Milliken & Company. “Encapsys’s expertise coupled with our ability to scale will propel our efforts to deliver sustainable innovations for our customers.”
“Encapsys brings a unique combination of innovation, science and technology to the Milliken team,” adds Cindy Boiter, executive vice president and president of Milliken’s Chemical Business. “Enhancing our portfolio of specialty chemicals with global reach, this acquisition will accelerate sustainable solutions for the markets and customers we serve.”
As Encapsys integrates into Milliken, daily operations will continue without interruption, including relationships with existing suppliers and customers.
Headquartered in Appleton, Wisconsin, Encapsys is a leader in microencapsulation technologies, which put a uniform polymeric shell around a core material at the micron level to create capsules. Microencapsulation has applications across industries and helps companies achieve more sustainable products by advancing responsible consumption and efficient delivery of active materials.
“Encapsys associates are excited to become a member of the Milliken team and welcome a world-class organization to Northeast Wisconsin,” stated Mary Goggans, president of Encapsys. “Our culture and values are a perfect fit, and we look forward to leveraging Milliken’s global capabilities to accelerate innovation and growth.”
Milliken was represented by legal advisor Jones Day and financial advisor J.P. Morgan Securities LLC. BofA Securities, Inc. and Credit Suisse Securities (USA) LLC acted as financial advisors, and Morgan, Lewis & Bockius LLP acted as legal advisor to Encapsys.
About Milliken
Milliken & Company is a global manufacturing leader whose focus on materials science delivers tomorrow’s breakthroughs today. From industry-leading molecules to sustainable innovations, Milliken creates products that enhance people’s lives and deliver solutions for its customers and communities. Drawing on thousands of patents and a portfolio with applications across the textile, flooring, specialty chemical and healthcare businesses, the company harnesses a shared sense of integrity and excellence to positively impact the world for generations. Discover more about Milliken’s curious minds and inspired solutions at milliken.com and on Facebook, Instagram, LinkedIn and Twitter.
About Encapsys
Headquartered in Appleton, WI, Encapsys is a worldwide recognized innovator in microencapsulation. Encapsys is the patented inventor of microencapsulation and has been providing innovative solutions to partners in home care, personal care, agriculture, textiles, bedding and carbonless paper for over 65 years. To learn more about Encapsys, please visit www.encapsys.com.
About The Cypress Performance Group LLC
Encapsys has been owned since 2015 by The Cypress Performance Group. Cypress is a holding company founded by George Sherman focused on value-added manufacturing or industrial service businesses. Cypress helps companies implement their strategic plan by using its business system to focus on growth and operational efficiency while developing industry leading practices to improve customer experience and delivering shareholder value.
https://www.businesswire.com/news/home/20211018005946/en/Milliken-Company-Acquires-Encapsys-LLC
October 21, 2021
Milliken Acquires Encapsys
Milliken & Company Acquires Encapsys, LLC
October 18, 2021 03:38 PM Eastern Daylight Time
SPARTANBURG, S.C.–(BUSINESS WIRE)–Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of materials science expertise, has formally acquired Encapsys, LLC (“Encapsys”), a world leader in microencapsulation, from the Cypress Performance Group LLC (“Cypress”). The transaction officially closed October 18, 2021.
“Our culture and values are a perfect fit, and we look forward to leveraging Milliken’s global capabilities to accelerate innovation and growth.”Tweet this
“Moving the needle on sustainability requires big thinking and powerful collaborations. We’re thrilled to welcome Encapsys to Milliken,” said Halsey Cook, president and CEO for Milliken & Company. “Encapsys’s expertise coupled with our ability to scale will propel our efforts to deliver sustainable innovations for our customers.”
“Encapsys brings a unique combination of innovation, science and technology to the Milliken team,” adds Cindy Boiter, executive vice president and president of Milliken’s Chemical Business. “Enhancing our portfolio of specialty chemicals with global reach, this acquisition will accelerate sustainable solutions for the markets and customers we serve.”
As Encapsys integrates into Milliken, daily operations will continue without interruption, including relationships with existing suppliers and customers.
Headquartered in Appleton, Wisconsin, Encapsys is a leader in microencapsulation technologies, which put a uniform polymeric shell around a core material at the micron level to create capsules. Microencapsulation has applications across industries and helps companies achieve more sustainable products by advancing responsible consumption and efficient delivery of active materials.
“Encapsys associates are excited to become a member of the Milliken team and welcome a world-class organization to Northeast Wisconsin,” stated Mary Goggans, president of Encapsys. “Our culture and values are a perfect fit, and we look forward to leveraging Milliken’s global capabilities to accelerate innovation and growth.”
Milliken was represented by legal advisor Jones Day and financial advisor J.P. Morgan Securities LLC. BofA Securities, Inc. and Credit Suisse Securities (USA) LLC acted as financial advisors, and Morgan, Lewis & Bockius LLP acted as legal advisor to Encapsys.
About Milliken
Milliken & Company is a global manufacturing leader whose focus on materials science delivers tomorrow’s breakthroughs today. From industry-leading molecules to sustainable innovations, Milliken creates products that enhance people’s lives and deliver solutions for its customers and communities. Drawing on thousands of patents and a portfolio with applications across the textile, flooring, specialty chemical and healthcare businesses, the company harnesses a shared sense of integrity and excellence to positively impact the world for generations. Discover more about Milliken’s curious minds and inspired solutions at milliken.com and on Facebook, Instagram, LinkedIn and Twitter.
About Encapsys
Headquartered in Appleton, WI, Encapsys is a worldwide recognized innovator in microencapsulation. Encapsys is the patented inventor of microencapsulation and has been providing innovative solutions to partners in home care, personal care, agriculture, textiles, bedding and carbonless paper for over 65 years. To learn more about Encapsys, please visit www.encapsys.com.
About The Cypress Performance Group LLC
Encapsys has been owned since 2015 by The Cypress Performance Group. Cypress is a holding company founded by George Sherman focused on value-added manufacturing or industrial service businesses. Cypress helps companies implement their strategic plan by using its business system to focus on growth and operational efficiency while developing industry leading practices to improve customer experience and delivering shareholder value.
https://www.businesswire.com/news/home/20211018005946/en/Milliken-Company-Acquires-Encapsys-LLC
October 21, 2021
Olin Shutting Down More Chlor Alkali Capacity
http://www.olin.com/investors/events-presentations/press-releases/
October 21, 2021
Olin Shutting Down More Chlor Alkali Capacity
http://www.olin.com/investors/events-presentations/press-releases/
October 20, 2021
Port Update
Ships await to enter the ports of Los Angeles and Long Beach on Oct. 14, 2021. (John Fredricks/The Epoch Times) Economy
Record Number of Container Ships Waiting Off Ports of Long Beach, Los Angeles: Executive
By Jack Phillips October 19, 2021 Updated: October 19, 2021 biggersmallerPrint
The United States’ largest container port now has a record backlog of ships and containers, according to Gene Seroka, the executive director of the Port of Los Angeles.
“We have about two weeks’ worth of work sitting at anchor right now,” Seroka told CNN, adding that port workers are currently trying to prioritize the cargo that needs to move from the port as soon as possible.
Some 200,000 shipping containers remain on ships off the coast, he added.
“There’s product that needs to get out there in super-fast speed,” he said. “Think about the toys, the other Christmas product, and parts and components for factories.”
His comment comes just days after President Joe Biden announced that the Ports of Los Angeles and Long Beach have committed to 24/7 shifts to alleviate supply chain bottlenecks ahead of the Christmas shopping season. The White House also said it secured agreements with UPS, Walmart, and FedEx to increase the number of shifts.
“We had 25 percent of all cargo on our dock sitting here for 13 days or longer [and] that’s been cut in just about half over the last week,” Seroka said.
Phillip Sanfield, director of media relations for the port, noted that although the Port of Los Angeles now operates on a 24/7 schedule, its terminals remain closed between 3 a.m. and 8 a.m. The terminals are privately owned and operated.
“Currently there seems to be no cargo owners who are looking to use the 3 am. to 8 a.m. window,” he told CNN. “Terminals don’t want to be open if there is no interest in using the gates. We’re not yet seeing demand by cargo owners to come get their cargo during the overnight hours.”
“The Port of LA is ready now. We have plenty of longshore workers. The issue is truckers and more importantly, cargo to be picked up,” he added. “We’re working with importers, terminals, etc. to get a demand for that window. There’s no one single lever to pull.”
Meanwhile, Danielle Inman, a spokesperson for the National Retail Foundation, told Politifact that Assembly Bill 5—which critics have said triggered a wave of owner-operator truckers and trucking fleets to stop doing business in California—may be part of the issue why there’s a shipping backlog at the ports. However, she stressed it’s not the only reason.
“The overwhelming increase in volume, lack of available equipment such as chassis, empty container return policies, lack of available warehouse space are all contributing to the ongoing congestion issues at the ports,” Inman told the website.
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