The Urethane Blog
March 16, 2020
Foam Expo 2020 and all co-located events rescheduled due to Covid-19 (Coronavirus)
New dates announced: August 25 – 27 2020
The wellbeing of our exhibitors, visitors, speakers, staff members and contractors is of paramount importance to the Foam Expo 2020 organisers (Smarter Shows Tarsus Ltd), alongside a commitment to delivering successful event experiences that meet the business objectives of our exhibitors and visitors.
Having closely monitored recent developments around the spread of COVID-19 (Coronavirus), and listened to feedback from across the industry, we have decided to postpone Foam Expo 2020, now we have secured our preferred alternative dates in late Summer.
While this is not a decision that has been taken lightly, we feel that it is the right one – not just for the wellbeing of people attending the event, but also for the technical foam industry. Foam Expo is the established principle meeting place for professionals across the technical foam supply chain and we believe the decision to postpone is in the best interests of all participants. With our new dates in place, we are confident that Foam Expo 2020 will continue to be accessible to professionals throughout the supply chain, giving the industry a platform to connect, do business, and collectively identify solutions to the challenges facing the industry.
‘ATP fully understands and supports the decision Smarter Shows Tarsus Ltd has made, and we look forward to presenting at the rescheduled show in late August’ – Richard Simpson, Division Leader, ATP Adhesive Systems AG
‘3M fully support the postponement of Foam Expo and Adhesives & Bonding Expo to the summer months and anticipate a great show this August’ – Noah Thacker, Content Management Specialist, 3M
‘Whilst we’re disappointed that the event isn’t taking place in March, as we had originally planned, our new dates in late August enable us to now fully focus on delivering a successful 2020 edition of the show. We appreciate the support received from our key event partners around the decision to postpone, and we’re anticipating a hugely successful 2020 edition of Foam Expo, alongside our new colocation partner Adhesives and Bonding Expo, when it takes place in late August’ – Jamie Reid, Event Director, Foam Expo 2020
We are in ongoing communication with our exhibitors, speakers, partners and suppliers. Those we have managed to speak to thus far have been extremely supportive. If you’d like to get in touch with the Foam Expo team, please contact us at info@foam-expo.com
Thank you for your understanding and support and we look forward to welcoming you to Novi, MI, in August 2020.
http://www.foam-expo.com/information/foam-expo-2020-new-dates-announced-august-25-27-2020
March 16, 2020
Foam Expo 2020 and all co-located events rescheduled due to Covid-19 (Coronavirus)
New dates announced: August 25 – 27 2020
The wellbeing of our exhibitors, visitors, speakers, staff members and contractors is of paramount importance to the Foam Expo 2020 organisers (Smarter Shows Tarsus Ltd), alongside a commitment to delivering successful event experiences that meet the business objectives of our exhibitors and visitors.
Having closely monitored recent developments around the spread of COVID-19 (Coronavirus), and listened to feedback from across the industry, we have decided to postpone Foam Expo 2020, now we have secured our preferred alternative dates in late Summer.
While this is not a decision that has been taken lightly, we feel that it is the right one – not just for the wellbeing of people attending the event, but also for the technical foam industry. Foam Expo is the established principle meeting place for professionals across the technical foam supply chain and we believe the decision to postpone is in the best interests of all participants. With our new dates in place, we are confident that Foam Expo 2020 will continue to be accessible to professionals throughout the supply chain, giving the industry a platform to connect, do business, and collectively identify solutions to the challenges facing the industry.
‘ATP fully understands and supports the decision Smarter Shows Tarsus Ltd has made, and we look forward to presenting at the rescheduled show in late August’ – Richard Simpson, Division Leader, ATP Adhesive Systems AG
‘3M fully support the postponement of Foam Expo and Adhesives & Bonding Expo to the summer months and anticipate a great show this August’ – Noah Thacker, Content Management Specialist, 3M
‘Whilst we’re disappointed that the event isn’t taking place in March, as we had originally planned, our new dates in late August enable us to now fully focus on delivering a successful 2020 edition of the show. We appreciate the support received from our key event partners around the decision to postpone, and we’re anticipating a hugely successful 2020 edition of Foam Expo, alongside our new colocation partner Adhesives and Bonding Expo, when it takes place in late August’ – Jamie Reid, Event Director, Foam Expo 2020
We are in ongoing communication with our exhibitors, speakers, partners and suppliers. Those we have managed to speak to thus far have been extremely supportive. If you’d like to get in touch with the Foam Expo team, please contact us at info@foam-expo.com
Thank you for your understanding and support and we look forward to welcoming you to Novi, MI, in August 2020.
http://www.foam-expo.com/information/foam-expo-2020-new-dates-announced-august-25-27-2020
March 16, 2020
Huntsman Announces the Acquisition of CVC Thermoset Specialties, Expanding its Specialty Chemicals Portfolio
THE WOODLANDS, Texas, March 16, 2020 /PRNewswire/ — Huntsman Corporation (HUN) today announces its agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority owned by affiliates of American Securities LLC.
CVC Thermoset Specialties has annual revenues of approximately $115 million with two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey. Under terms of the agreement, Huntsman will pay $300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Based on full year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple end being dependent upon normal growth market conditions. The transaction is expected to close around midyear of 2020.
Commenting on the acquisition, Scott Wright, President of Huntsman’s Advanced Materials division, said: “The acquisition of CVC Thermoset Specialties brings valuable complementary technology breadth to our Advanced Materials portfolio and its unique products will make systems using our class-leading epoxy-based materials even tougher, stronger, and more durable. This business manufactures highly specialized toughening, curing and other additives used in a wide range of composite, adhesive and coatings applications across aerospace, automotive and industrial markets. In addition to strengthening our position in North America, Huntsman will use our existing asset footprint and routes to market in Europe and Asia to rapidly grow and globalize CVC Thermoset Specialties’ exciting and complementary product range. This acquisition will further improve our ability to create differentiation in our customers’ applications, in particular through our strong formulations business.”
Peter Huntsman, Chairman, President and CEO, further commented: “This bolt-on fits all the criteria we look for in acquisitions for our Advanced Materials division, including new technology, synergies, and globalization opportunities. The business currently achieves EBITDA margins in excess of 25% and we expect to achieve significant synergies within two years.
“In these uncertain times, our financial strength will allow us to keep looking for these types of acquisitions, while at the same time maintain a conservative balance sheet and opportunistically repurchase shares. We remain committed to our balanced approach to capital allocation. Year-to-date we have taken advantage of our depressed stock price and have repurchased approximately $85 million in stock. Lastly, while forward visibility remains low, the first quarter is on track to deliver on the outlook that we communicated on our February 13, 2020 earnings call.”
https://seekingalpha.com/pr/17809535-huntsman-announces-acquisition-of-cvc-thermoset-specialties-expanding-specialty-chemicals
March 16, 2020
Huntsman Announces the Acquisition of CVC Thermoset Specialties, Expanding its Specialty Chemicals Portfolio
THE WOODLANDS, Texas, March 16, 2020 /PRNewswire/ — Huntsman Corporation (HUN) today announces its agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority owned by affiliates of American Securities LLC.
CVC Thermoset Specialties has annual revenues of approximately $115 million with two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey. Under terms of the agreement, Huntsman will pay $300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Based on full year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple end being dependent upon normal growth market conditions. The transaction is expected to close around midyear of 2020.
Commenting on the acquisition, Scott Wright, President of Huntsman’s Advanced Materials division, said: “The acquisition of CVC Thermoset Specialties brings valuable complementary technology breadth to our Advanced Materials portfolio and its unique products will make systems using our class-leading epoxy-based materials even tougher, stronger, and more durable. This business manufactures highly specialized toughening, curing and other additives used in a wide range of composite, adhesive and coatings applications across aerospace, automotive and industrial markets. In addition to strengthening our position in North America, Huntsman will use our existing asset footprint and routes to market in Europe and Asia to rapidly grow and globalize CVC Thermoset Specialties’ exciting and complementary product range. This acquisition will further improve our ability to create differentiation in our customers’ applications, in particular through our strong formulations business.”
Peter Huntsman, Chairman, President and CEO, further commented: “This bolt-on fits all the criteria we look for in acquisitions for our Advanced Materials division, including new technology, synergies, and globalization opportunities. The business currently achieves EBITDA margins in excess of 25% and we expect to achieve significant synergies within two years.
“In these uncertain times, our financial strength will allow us to keep looking for these types of acquisitions, while at the same time maintain a conservative balance sheet and opportunistically repurchase shares. We remain committed to our balanced approach to capital allocation. Year-to-date we have taken advantage of our depressed stock price and have repurchased approximately $85 million in stock. Lastly, while forward visibility remains low, the first quarter is on track to deliver on the outlook that we communicated on our February 13, 2020 earnings call.”
https://seekingalpha.com/pr/17809535-huntsman-announces-acquisition-of-cvc-thermoset-specialties-expanding-specialty-chemicals
March 14, 2020
Greening Our Way To Infection
Authored by John Tierney via City-Journal.org,
The ban on single-use plastic grocery bags is unsanitary – and it comes at the worst imaginable time…
The COVID-19 outbreak is giving new meaning to those “sustainable” shopping bags that politicians and environmentalists have been so eager to impose on the public. These reusable tote bags can sustain the COVID-19 and flu viruses—and spread the viruses throughout the store.
Researchers have been warning for years about the risks of these bags spreading deadly viral and bacterial diseases, but public officials have ignored their concerns, determined to eliminate single-use bags and other plastic products despite their obvious advantages in reducing the spread of pathogens. In New York State, a new law took effect this month banning single-use plastic bags in most retail businesses, and this week Democratic state legislators advanced a bill that would force coffee shops to accept consumers’ reusable cups—a practice that Starbucks and other chains have wisely suspended to avoid spreading the COVID-19 virus.
John Flanagan, the Republican leader of the New York State Senate, has criticized the new legislation and called for a suspension of the law banning plastic bags. “Senate Democrats’ desperate need to be green is unclean during the coronavirus outbreak,” he said Tuesday, but so far he’s been a lonely voice among public officials.
The COVID-19 virus is just one of many pathogens that shoppers can spread unless they wash the bags regularly, which few people bother to do. Viruses and bacteria can survive in the tote bags up to nine days, according to one study of coronaviruses.
The risk of spreading viruses was clearly demonstrated in a 2018 study published in the Journal of Environmental Health. The researchers, led by Ryan Sinclair of the Loma Linda University School of Public Health, sent shoppers into three California grocery stores carrying polypropylene plastic tote bags that had been sprayed with a harmless surrogate of a virus.
After the shoppers bought groceries and checked out, the researchers found sufficiently high traces of the surrogate to risk transmission on the hands of the shoppers and checkout clerks, as well as on many surfaces touched by the shoppers, including packaged food, unpackaged produce, shopping carts, checkout counters, and the touch screens used to pay for groceries. The researchers said that the results warranted the adaptation of “in-store hand hygiene” and “surface disinfection” by merchants, and they also recommended educating shoppers to wash their bags.
An earlier study of supermarkets in Arizona and California found large numbers of bacteria in almost all the reusable bags—and no contamination in any of the new single-use plastic bags. When a bag with meat juice on the interior was stored in the trunk of a car, within two hours the number of bacteria multiplied tenfold.
The researchers also found that the vast majority of shoppers never followed the advice to wash their bags. One of the researchers, Charles Gerba of the University of Arizona, said that the findings “suggest a serious threat to public health,” particularly from fecal coliform bacteria, which was found in half the bags. These bacteria and other pathogens can be transferred from raw meat in the bag and also from other sources. An outbreak of viral gastroenteritis among a girls’ soccer team in Oregon was traced to a resuable grocery bag that had sat on the floor of a hotel bathroom.
In a 2012 study, researchers analyzed the effects of San Francisco’s ban on single-use plastic grocery bags by comparing emergency-room admissions in the city against those of nearby counties without the bag ban. The researchers, Jonathan Klick of the University of Pennsylvania and Joshua Wright of George Mason University, reported a 25 percent increase in bacteria-related illnesses and deaths in San Francisco relative to the other counties. The city’s Department of Public Health disputed the findings and methodology but acknowledged that “the idea that widespread use of reusable bags may cause gastrointenstinal infections if they are not regularly cleaned is plausible.”
New York’s state officials were told of this risk before they passed the law banning plastic bags. In fact, as the Kings County Politics website reported, a Brooklyn activist, Allen Moses, warned that shoppers in New York City could be particularly vulnerable because they often rest their bags on the floors of subway cars containing potentially deadly bacteria from rats—and then set the bag on the supermarket checkout counter. Yet public officials remain committed to reusable bags.
A headline on the website of the New York Department of Health calls reusable grocery bags a “Smart Choice” – bizarre advice, considering all the elaborate cautions underneath that headline. The department advises grocery shoppers to segregate different foods in different bags; to package meat and fish and poultry in small disposable plastic bags inside their tote bags; to wash and dry their tote bags carefully; to store the tote bags in a cool, dry place; and never to reuse the grocery tote bags for anything but food.
How could that possibly be a “smart choice” for public health? Anyone who has studied consumer behavior knows that it’s hopelessly unrealistic to expect people to follow all those steps. If the Department of Health actually prioritized public health, it would acknowledge what food manufacturers and grocers have known for decades: disposable plastic is the cheapest, simplest, and safest way to prevent foodborne illnesses.
Instead, leaders in New York and other states are ordering shoppers to make a more expensive, inconvenient, and risky choice—all to serve a green agenda that’s actually harmful to the environment. The ban on plastic bags will mean more trash in landfills (because paper bags take up so much more space than the thin disposable bags) and more greenhouse emissions (because of the larger carbon footprints of the replacement bags). And now, probably, it will also mean more people coming down with COVID-19 and other illnesses.
https://www.zerohedge.com/political/greening-our-way-infection
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