The Urethane Blog
May 19, 2024
Tosoh to Increase Prices for Millionate MDI Grades
Tosoh Specialty Chemicals USA, Inc. is increasing its prices for Millionate MDI Grades in North America. Effective with deliveries on or after June 1, 2024, or as contract terms allow, TSCU will increase the prices of Millionate MDI grades by $0.25/kg.
Millionate MDI is widely used in the production of rigid, semi-rigid, and integral skin foams, as well as coatings, adhesives, and elastomers.
TOSOH CORPORATION
Tosoh Corporation is the parent company of a Japanese chemical and specialty products and materials group that comprises over 100 companies worldwide and a multiethnic workforce of more than 12,000 people.
The parent company was established in 1935 and is listed on the First Section of the Tokyo Stock Exchange. In the 80 years that we have been in business, we have built balanced product lines of commodity chemicals for industry and of specialty products and materials for high technology and niche markets.
Tosoh’s principal markets include the chemical and petrochemical, construction, automotive, consumer electronics, information technology, bioscience, and environmental markets.
May 19, 2024
Chemical Data Reporting under the Toxic Substances Control Act
- The 2024 CDR Reporting Period is Opening Soon The 2024 CDR submission period begins June 1, 2024, and runs through September 20, 2024. Companies are required to report data electronically using EPA’s Central Data Exchange (CDX) systemand the e-CDRweb reporting tool which will be available starting June 1.
- Guidance on submitting information to the CDR database for 2024.
- CDR GuideMe guidance database
- 2020 CDR National Review EPA published a review summarizing the 2020 CDR site locations, production volumes, industrial uses, and commercial/consumer uses, as well as, data trends from the last three reporting cycles.
- The 2024 CDR Reporting Period is Opening Soon The 2024 CDR submission period begins June 1, 2024, and runs through September 20, 2024. Companies are required to report data electronically using EPA’s Central Data Exchange (CDX) systemand the e-CDRweb reporting tool which will be available starting June 1.
- Guidance on submitting information to the CDR database for 2024.
- CDR GuideMe guidance database
- 2020 CDR National Review EPA published a review summarizing the 2020 CDR site locations, production volumes, industrial uses, and commercial/consumer uses, as well as, data trends from the last three reporting cycles.
The Chemical Data Reporting (CDR) rule, under the Toxic Substances Control Act (TSCA), requires manufacturers (including importers) to provide EPA with information on the production and use of chemicals in commerce.
Basic Information
2020 National Review
CDR Data
Regulatory Overview
- CDR Petitions
- Proposed TSCA Data Reporting Rule
- Legislative and regulatory authority
- 40 CFR Part 711, (TSCA CDR Requirements)
CDR Reporting
May 15, 2024
Birth: October 24th, 1937
Death: May 13th, 2024
F. Quinn Stepan OBITUARY
The world lost an extraordinary man on May 13, 2024. F. Quinn Stepan died peacefully in his home of 60 years.
The beloved husband of the late Jean “Snowy” Stepan (nee Finn) and devoted son of the late Alfred Charles and Mary Louise Stepan lived his life for others. Quinn Stepan had many passions, his first was his love for his wife, Snowy. They were married for 63 years and raised eight children.
He was the loving father of Jeanne (Rob) Schoder, Quinn (Debbie) Stepan Jr., Jennifer (Jim) Beqaj, Lisa (Tim) Hackett, Colleen (Jay) Tulimieri, Alfred (Candice) Stepan and Richard (Heather) Stepan and the late Todd Stepan. Cherished grandfather of Theresa (Joe) Stepan Dumais, Meghann (John) Stepan Kelly, Quinn P. Stepan, Robby (Taylor) Schoder, Mari Schoder, Scott (Mary) Schoder, Charlie Schoder and the late Michael Schoder, Jack, Sam, and Sarah Beqaj, Grace, Francie, Timmy, and Johnny Hackett, Quinn, Jeanne, Libby, and Jack Tulimieri, Spencer Stepan, and Haley, Finn, and Brenna Stepan. He also was blessed to be the fond great grandfather of Olivia, Hudson and Miles Schoder, Faye and Scott Schoder, Colin, Katelyn, Lilly and Andrew Dumais, Mac, Step, Walt and Rhetta Kelly, and Quinn H. Stepan.
Quinn Stepan was born in 1937 in the middle of an economic recession, the tough times would influence his lifestyle choices. He was the third child of Alfred and Mary Louise. He was a proud member of the Winnetka Stepan family with four brothers and two sisters. He grew-up on the Village Green, sitting on the cannon, running in the Fourth of July races and swimming in Maple Street Beach.
Quinn and Snowy Stepan hosted the extended family for the Turkey Bowl and Thanksgiving for more than 100 people, for four decades. Traditions were important to Quinn, he believed that gatherings created the opportunity to build connections and strengthen bonds between people. Quinn was the dear brother of Stratford (Judy) Stepan, Charlotte (Jim) Stepan Shea and John (Bonnie) Stepan and Brother-in-law to Richard Wehman and sister-in-law to Nancy Leys Stepan. His sister Marilee Stepan Wehman and sister-in-law Ann Ruppe Stepan, brothers Alfred Stepan and Paul Stepan predeceased him.
Quinn attended Faith, Hope and Charity, Loyola Academy, and then the University of Notre Dame. He cultivated life long friendships across each of these institutions. After Notre Dame, he served in the Army and moved with his young family to Michigan, Texas and New Jersey. Eventually they found their way back to Winnetka, earning an MBA at the University of Chicago, residing in the shadow of Faith Hope for the last 60 years.
He loved Winnetka and Lake Michigan. Quinn never forgot the foundation of his Catholic education and he firmly believed in its importance. He would serve as the Chairman of the Board for both Loyola Academy and Woodlands Academy. He spent decades on the Notre Dame Liberal Art Council and was an ardent supporter of Big Shoulders and the Stepan Scholars program at the Our Lady of Grace parochial school. He believed Catholic education was important to build people of good character and sound mind. He definitely valued a liberal arts background, he said it was important for students to develop their thinking and writing skills. He funded the Stepan Economic Chair at Notre Dame to coax the best professors to stay in the College of Arts & Letters instead of decamping to the Business Schools.
He shared his leadership and management skills tirelessly to help these institutions flourish.
Quinn Stepan will also be remembered for the company he lead. His Team took the company his father founded in 1932 and made it a global powerhouse. When Quinn joined Stepan Company in 1961, net sales were $17.3 million and net income was $1.3 million with 3 domestic industrial plants. Today, it is a global company with 22 plants in 12 countries with 2 billion dollars in sales that employs more than 2400 people.
He loved going to work everyday at Stepan. He built a culture of idea sharing, congeniality and excellence. He ate lunch in the company cafeteria so he could visit with the troops. He was recognized as an industry leader and was honored with the Elva Walker Spillane Distinguished Service Award in 2010.
Family will always be the greatest legacy of Quinn Stepan. His family was his top priority. He loved everyone, he cared deeply about their well-being, their education, their futures and their passions. He was the catalyst for incredible family events – holiday celebrations, travel escapades that included European and American driving tours, Mediterranean boat cruises, golf outings, ski trips, Olympic experiences, African safaris, early trips to India and China. He wanted to share the joys of travel with others and wanted to create a wonder for the vastness of the world.
He chronicled all these good times – the games he attended, the beautiful places visited, graduations, baptisms etc.… It was not uncommon for relatives to be jockeying for position on his photo shelves. He loved his photos and being surrounded by the smiles and love of the family he had built. He was dedicated, steadfast and resolute. We knew that we always had a cheerleader in our corner. It is these memories that will provide comfort. He will be deeply missed by his family, friends and colleagues. Hopefully, all can take the lessons of Quinn’s well lived life and move forward to be the catalyst for change to make our world a little better.
Visitation Thursday, May 16, 2024, 10:00 a.m. CDT at Saints Faith, Hope & Charity Church, 191 Linden Street, Winnetka, IL 60093, it will immediately be followed by a 11:00 a.m. Funeral Mass. To virtually attend the funeral Mass, visit F. Quinn Stepan’s obituary page on donnellanfuneral.com to access the link to the live streaming. The family invites you to a reception immediately following Mass in the Saints Faith Hope & Charity Parish Hall. Interment private All Saints Cemetery, Des Plaines, IL. In lieu of flowers, memorials may be made to either: Big Shoulders Fund. Info: donnellanfuneral.com or 847-675-1990
May 13, 2024
April 2024 U.S. Auto Sales
By Jerry Reynolds
May 6, 2024
Auto sales for April 2024 are in the books, at least from the automakers that still report sales on a monthly basis. From those car companies, sales were off just slightly, less than 2% from April of 2023. However, the actual picture could be different if we could see all the automakers’ numbers. A spot check of many of our CarPro Certified Dealers showed business was actually quite good last month in new, but most reported used car sales were down from a year ago. This is to be expected with new vehicle inventories peaking, as well as increased factory incentives.
The shining star was Toyota with sales up 15%, on the strength of more hybrid vehicles being available for sale. Hyundai and Kia were off 3% and 4% respectively, and it is a little bit of a mystery as to why. Acura was off 21%, the largest decrease of the reporting car companies.
Note: There was one less selling day in April of 2024 versus April of 2023, and that one day can make a big difference in the numbers. The other big factor was a decrease in fleet sales, something applauded by the new car dealers.
U.S. Auto Sales – April 2024
- Toyota: 183,339 Up 15%
- Ford: 170,302 Down 3%
- Honda: 106,042 Up 3%
- Hyundai: 68,603 Down 3%
- Kia: 65,754 Down 4%
- Subaru: 55,863 Up 10%
- Mazda: 31,251 Down 4%
- Lexus: 28,479 Up 5%
- Acura: 10,544 Down 21%
- Volvo: 10,604 Up 10%
- Lincoln: 8,237 Up 24%
- Genesis: 5,857 Down 6
https://www.chron.com/news/article/april-2024-u-s-auto-sales-19441775.php
May 12, 2024
Private equity CVC Funds buys into Hempel
Photo: Hempel
CVC Funds is becoming a minority investor in the coatings company which has been solely owned by Hempel Foundation for 75 years.
Marcus Hand | May 08, 2024
The move by Hempel Foundation to bring CVC in as an investor into Hempel A/S is designed to help support both its organic growth strategy and to pursue merger and acquisition opportunities.
CVC will as a minority investor subscribe to new shares equating to up to a 30% stake in Hempel over time. The value of the investment was not revealed.
Related: Hempel launches underwater hull inspections using ROVs
Richard Sand, Chair of the Hempel Foundation Board of Directors said that they believed the value of Hempel’s shares would increase more over the next five to 10 years with CVC as a minority shareholder than without.
“The Hempel Foundation has been the sole owner of Hempel for 75 years and has an ongoing commitment to secure Hempel’s financial base and ensure its future growth. After careful consideration, the Hempel Foundation has decided to welcome a minority investor that brings both unique experience and capital to support Hempel’s accelerated growth journey,” he stated.
Related: Hempel invests $100m in new China factory
Hempel Foundation will continue to be the majority shareholder in Hempel.
Michael Hansen, Group President and CEO of Hempel A/S said, “We have already made solid progress on our strategy of driving profitable growth, both organically and inorganically through M&A activity, delivering record-breaking results in 2023.
“This new partnership will considerably strengthen our industry position, will ignite further growth in our winning brands and means we are well-placed to seek out transformative acquisition opportunities.”
From the CVC side, Partner Michael Lavrysen, commented: “CVC Strategic Opportunities invests in high-quality businesses with longer growth horizons, often partnering with likeminded families and foundations looking for specific expertise to advance expansion.”
The transaction is expected to close in the second half of the year subject to regulatory approval.
https://www.seatrade-maritime.com/finance-insurance/private-equity-cvc-funds-buys-hempel
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