The Urethane Blog
Everchem Updates
VOLUME XXI
September 14, 2023
Everchem’s exclusive Closers Only Club is reserved for only the highest caliber brass-baller salesmen in the chemical industry. Watch the hype video and be introduced to the top of the league: — read more
March 20, 2019
Sika acquires manufacturer of PU foam systems in Belarus
Sika has agreed to acquire Belineco LLC, a Belorussian manufacturer of polyurethane foam systems. According to Sika, with the acquisition the company will further expand its know-how in the production and development of polyurethane foams. Together, the two companies will gain better access to the trade distribution channels in Eastern Europe. Financial details were not disclosed. The acquired business generates annual sales of CHF 23 million (~ EUR 20.3 million). The transaction is subject to approval by anti-trust authorities.
Belineco, based near Brest, has been growing with strong momentum over the past years and has built up a solid market position in Belarus and Russia. In its state-of-the-art manufacturing facility, the company produces polyurethane foams sold via trade distribution channels in Eastern European markets. The acquisition provides Sika with expanded production capacity and know-how for polyurethane foam systems. With its geographical footprint focused on Eastern Europe, it complements the recently acquired Swiss-based Polypag polyurethane foam business. The acquisition of Belineco will enhance Sika’s product offering for the trade distribution channels and improve store penetration with larger distributors. It will open up cross-selling opportunities for the combined portfolio through these channels as well as for Belineco foams in Sika’s roofing and facade systems.
Ivo Schädler, Regional Manager EMEA, said: “The acquisition of Belineco will strengthen our Sealing & Bonding business in Eastern Europe and open up exciting, new cross-selling opportunities. The improved access to trade distribution channels will increase our market penetration in this region and drive the continued growth of both companies. We are happy to welcome Belineco’s employees into the Sika team and are excited about expanding our business together.”
https://www.gupta-verlag.com/news/industry/22688/sika-acquires-manufacturer-of-pu-foam-systems-in-belarus
March 18, 2019
https://ycharts.com/indicators/reports/harpex
March 18, 2019
https://ycharts.com/indicators/reports/harpex
March 18, 2019
Huntsman Updates First Quarter 2019 Outlook
THE WOODLANDS, Texas, March 18, 2019 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) management will be presenting to investors over the coming days at the Goldman Sachs Houston Chemical Intensity Days Conference in Houston, Texas. The presentations and discussions will reflect Huntsman’s updated outlook for the first quarter 2019.
Huntsman’s largest business segment, Polyurethanes, is seeing improving trends in China. However, this is currently being more than offset by a slower-than-expected seasonal pickup in construction-related markets and lower demand in automotive in North America, as well as softer demand patterns across most of the major European markets, including automotive. While Huntsman expects the Polyurethanes segment first quarter results to be a bit softer than previously expected due to overall softer volumes, the margins in the downstream business remain stable.
Huntsman expects that the Performance Products segment results for the first quarter will likely be flat to down from the fourth quarter 2018, versus the previous expectation of flat to up, due largely to weather-related delays in the agricultural markets and weaker oilfield chemical demand.
Within the Advanced Materials segment, Huntsman is seeing similar pockets of softness, such as in construction and coatings, yet Huntsman still expects that its first quarter results will be modestly up from the fourth quarter 2018, which is roughly in line with previous expectations.
The Textile Effects segment continues to feel the effects of lingering challenges in China resulting in softer volumes than previously expected. Huntsman expects first quarter results in this segment to be similar to fourth quarter 2018.
As a result of these changes to the outlook, largely resulting from a slower seasonal pickup in North America and a softer European economy, Huntsman expects its first quarter 2019 consolidated adjusted EBITDA to be 10% or so below fourth quarter 2018.
Peter R. Huntsman, Chairman, President and CEO, commented “We are pleased to see business conditions improve within our Polyurethanes segment in Asia following the Chinese New Year, and our downstream global strategy is working. Despite softer-than-anticipated conditions in Europe and a slower seasonal start in North America, our downstream margins are holding firm. While the first quarter has been more challenging than anticipated, it is largely volumetric. We continue to see inventory levels reduced and general long-term fundamentals intact. Absent macro events occurring that are out of our control, we remain cautiously encouraged that the rest of the year will improve, and we reaffirm our prior full year guidance of 2019 adjusted EBITDA between 5% and 7% lower than 2018.”
:http://www.prnewswire.com/news-releases/huntsman-updates-first-quarter-2019-outlook-300813676.html
March 18, 2019
Huntsman Updates First Quarter 2019 Outlook
THE WOODLANDS, Texas, March 18, 2019 /PRNewswire/ — Huntsman Corporation (NYSE: HUN) management will be presenting to investors over the coming days at the Goldman Sachs Houston Chemical Intensity Days Conference in Houston, Texas. The presentations and discussions will reflect Huntsman’s updated outlook for the first quarter 2019.
Huntsman’s largest business segment, Polyurethanes, is seeing improving trends in China. However, this is currently being more than offset by a slower-than-expected seasonal pickup in construction-related markets and lower demand in automotive in North America, as well as softer demand patterns across most of the major European markets, including automotive. While Huntsman expects the Polyurethanes segment first quarter results to be a bit softer than previously expected due to overall softer volumes, the margins in the downstream business remain stable.
Huntsman expects that the Performance Products segment results for the first quarter will likely be flat to down from the fourth quarter 2018, versus the previous expectation of flat to up, due largely to weather-related delays in the agricultural markets and weaker oilfield chemical demand.
Within the Advanced Materials segment, Huntsman is seeing similar pockets of softness, such as in construction and coatings, yet Huntsman still expects that its first quarter results will be modestly up from the fourth quarter 2018, which is roughly in line with previous expectations.
The Textile Effects segment continues to feel the effects of lingering challenges in China resulting in softer volumes than previously expected. Huntsman expects first quarter results in this segment to be similar to fourth quarter 2018.
As a result of these changes to the outlook, largely resulting from a slower seasonal pickup in North America and a softer European economy, Huntsman expects its first quarter 2019 consolidated adjusted EBITDA to be 10% or so below fourth quarter 2018.
Peter R. Huntsman, Chairman, President and CEO, commented “We are pleased to see business conditions improve within our Polyurethanes segment in Asia following the Chinese New Year, and our downstream global strategy is working. Despite softer-than-anticipated conditions in Europe and a slower seasonal start in North America, our downstream margins are holding firm. While the first quarter has been more challenging than anticipated, it is largely volumetric. We continue to see inventory levels reduced and general long-term fundamentals intact. Absent macro events occurring that are out of our control, we remain cautiously encouraged that the rest of the year will improve, and we reaffirm our prior full year guidance of 2019 adjusted EBITDA between 5% and 7% lower than 2018.”
:http://www.prnewswire.com/news-releases/huntsman-updates-first-quarter-2019-outlook-300813676.html
Everchem Updates Archive 
Sign Up for Email Updates