The Urethane Blog
Everchem Updates
VOLUME XXI
September 14, 2023
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April 29, 2019
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| Press Release of Recticel – 29 April 2019 |
Trading update for 1st quarter 2019
Olivier Chapelle (CEO): “As previously announced, our net sales have decreased in 1Q2019 due to a combination of adverse Automotive and Comfort markets affecting the volumes, and of selling price erosion in the Flexible Foams and Insulation segments as a consequence of falling MDI and TDI raw material prices.
The evolution of our order books points towards progressive volume and net sales increases, and we remain focused on the execution of our innovation and growth plans, among which the ramp-up of our new Insulation factory in Finland.
In parallel of executing our announced industrial footprint reduction in Germany, the Group continues to implement operating cost reductions.
While the process has become more challenging over the last 8 months due to the rapidly changing Automotive market conditions, the Group continues to actively pursue the divestment of its Automotive Interiors division.” OUTLOOK In a highly volatile economic and geopolitical environment, we are well positioned to adapt quickly to changing market conditions, and we remain focused on the execution of our plans. Having anticipated an adverse market environment in the first half of 2019, we expect an improvement in the second half of the year, and confirm our guidance of a 2019 Adjusted EBITDA above the level of 2018 on a like-for-like basis. |
April 26, 2019
SPI Joins the VersaFlex Family of Specialty Coatings Companies |
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Kansas City, Kansas – April 25, 2019 – Specialty Products (“SPI”), a Washington-based premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment, has joined the VersaFlex family of companies.
Headquartered in Lakewood, Washington, SPI is a leading manufacturer of specialty polyurea and polyurethane foams coatings with over 45 years of experience formulating high-performance solutions.
“This is an exciting opportunity for employees and customers of SPI. Building on the 45 year success of SPI under the direction and leadership of Dan Helton and Curt Josaitis, merging with VersaFlex will allow SPI and its customers to reach new levels of success with a broader product offering and innovation support ” –Robert Jamieson, EVP M&A and Integration VersaFlex.
SPI joins VersaFlex, Raven Lining Systems, Milamar Coatings, Bridge Preservation and Vanberg Specialized Coatings as part of a growing portfolio of specialty coating solutions across an array of markets and industries.
“We’re excited to join forces with SPI. This move allows us to broaden our specialty coatings portfolio and increase our focus on polyurea coating and foam solutions. We look forward to leveraging the increased scale this acquisition provides.” –Tom Verghese, CEO VersaFlex.
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About Specialty Products (SPI)
Specialty Products, is a premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment. Headquartered in Lakewood, Washington, SPI also has operation centers in Rowlett Texas, Chicago Illinois, and Anchorage Alaska. SPI is a founding member of the Polyurea Development Association (PDA). With a technical staff of a combined total of 180 years of experience, SPI is your trusted source for polyurea coatings, foam products and spray application equipment.
About VersaFlex
VersaFlex is an industry leader in 100% solids pure polyurea based technology, which is used in the protection and repair of a wide variety of industrial, commercial and maintenance environments. This includes the Bridge Preservation, which focuses on the protection and rehabilitation of highways, bridges, tunnels and rail infrastructure; SL™ series joint filler for commercial and industrial flooring applications, and FlexTain™ pre-sprayed liners for secondary containment.
About Raven Lining Systems
Raven Lining Systems is an industry leader in high build 100% solids epoxy linings for the protection and rehabilitation of wastewater, water and storm-water infrastructure for over 30 years. Their portfolio includes a broad range of specialty innovative engineered solutions, for the industrial, OEM and oil & gas markets. Raven’s innovative products are delivered through an exclusive network of certified applicators, to assure the end customers receive the highest levels of quality and performance protection.
About Milamar
Milamar manufactures high-performance epoxy and urethane coating systems designed for the protection, repair and restoration of a variety of substrates across markets and industries. Offering a comprehensive portfolio of solutions, Milamar’s technical representatives are dedicated to cultivating long-term relationships through its network of certified applicators and distributors, which extends throughout North America, Central America, South America, and Europe.
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April 26, 2019
SPI Joins the VersaFlex Family of Specialty Coatings Companies |
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Kansas City, Kansas – April 25, 2019 – Specialty Products (“SPI”), a Washington-based premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment, has joined the VersaFlex family of companies.
Headquartered in Lakewood, Washington, SPI is a leading manufacturer of specialty polyurea and polyurethane foams coatings with over 45 years of experience formulating high-performance solutions.
“This is an exciting opportunity for employees and customers of SPI. Building on the 45 year success of SPI under the direction and leadership of Dan Helton and Curt Josaitis, merging with VersaFlex will allow SPI and its customers to reach new levels of success with a broader product offering and innovation support ” –Robert Jamieson, EVP M&A and Integration VersaFlex.
SPI joins VersaFlex, Raven Lining Systems, Milamar Coatings, Bridge Preservation and Vanberg Specialized Coatings as part of a growing portfolio of specialty coating solutions across an array of markets and industries.
“We’re excited to join forces with SPI. This move allows us to broaden our specialty coatings portfolio and increase our focus on polyurea coating and foam solutions. We look forward to leveraging the increased scale this acquisition provides.” –Tom Verghese, CEO VersaFlex.
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About Specialty Products (SPI)
Specialty Products, is a premier manufacturer of spray-applied polyurea elastomers, polyurethane foams and custom plural component equipment. Headquartered in Lakewood, Washington, SPI also has operation centers in Rowlett Texas, Chicago Illinois, and Anchorage Alaska. SPI is a founding member of the Polyurea Development Association (PDA). With a technical staff of a combined total of 180 years of experience, SPI is your trusted source for polyurea coatings, foam products and spray application equipment.
About VersaFlex
VersaFlex is an industry leader in 100% solids pure polyurea based technology, which is used in the protection and repair of a wide variety of industrial, commercial and maintenance environments. This includes the Bridge Preservation, which focuses on the protection and rehabilitation of highways, bridges, tunnels and rail infrastructure; SL™ series joint filler for commercial and industrial flooring applications, and FlexTain™ pre-sprayed liners for secondary containment.
About Raven Lining Systems
Raven Lining Systems is an industry leader in high build 100% solids epoxy linings for the protection and rehabilitation of wastewater, water and storm-water infrastructure for over 30 years. Their portfolio includes a broad range of specialty innovative engineered solutions, for the industrial, OEM and oil & gas markets. Raven’s innovative products are delivered through an exclusive network of certified applicators, to assure the end customers receive the highest levels of quality and performance protection.
About Milamar
Milamar manufactures high-performance epoxy and urethane coating systems designed for the protection, repair and restoration of a variety of substrates across markets and industries. Offering a comprehensive portfolio of solutions, Milamar’s technical representatives are dedicated to cultivating long-term relationships through its network of certified applicators and distributors, which extends throughout North America, Central America, South America, and Europe.
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April 26, 2019
Statement regarding Kingspan Group plc
Recticel NV announces that, after due consideration, in line with its fiduciary duties, of the unsolicited non-binding offer from Kingspan Plc to acquire Recticel’s Insulation and Flexible Foams divisions dated April 16, 2019 (the “FF/I Offer”), its Board of Directors (the “Board”) has unanimously decided to reject the FF/I Offer as it believes that it is not in the interest of its stakeholders to engage with Kingspan in this respect.
https://www.recticel.com/statement-regarding-kingspan-group-plc.html-1
April 26, 2019
Statement regarding Kingspan Group plc
Recticel NV announces that, after due consideration, in line with its fiduciary duties, of the unsolicited non-binding offer from Kingspan Plc to acquire Recticel’s Insulation and Flexible Foams divisions dated April 16, 2019 (the “FF/I Offer”), its Board of Directors (the “Board”) has unanimously decided to reject the FF/I Offer as it believes that it is not in the interest of its stakeholders to engage with Kingspan in this respect.
https://www.recticel.com/statement-regarding-kingspan-group-plc.html-1
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