The Urethane Blog

Everchem Updates

VOLUME XXI

September 14, 2023

Everchem’s Closers Only Club

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

January 31, 2019

Dow DuPont Results

DowDuPont -6% as Q4 sales finish flat, Q1 revs guided lower

|About: DowDuPont Inc. (DWDP)|By: , SA News Editor

DowDuPont (NYSE:DWDP) -6.4% pre-market after reporting Q4 revenues came in flat, hurt by lower customer demand for its appliances and automotive products as well as the drop in oil prices.

DWDP says Q4 sales in the materials science business, its biggest revenue generator, fell 1% Y/Y to $11.8B while volumes rose 1%, as margin compression in materials science, lower equity earnings and currency effects all weighed on EBITDA.

CFO Howard Ungerleider says additional headwinds came from a decline in the price of Brent crude and resulted in lower profit margins for its isocyanates and polyethylene products, and the weaker demand for the company’s appliances and automotive products were “more than normal season slowdown.”

Ungerleider also says the company expects global economic expansion to continue in 2019 at a moderately slower pace than 2018.

In a separate slide presentation, DWDP forecasts Q1 revenues falling by mid single digits vs. analyst consensus of a 5% increase, and sees operating EBITDA down by the low teens percentages.

https://seekingalpha.com/news/3428036-dowdupont-minus-6-percent-q4-sales-finish-flat-q1-revs-guided-lower#email_link

January 31, 2019

Dow DuPont Results

DowDuPont -6% as Q4 sales finish flat, Q1 revs guided lower

|About: DowDuPont Inc. (DWDP)|By: , SA News Editor

DowDuPont (NYSE:DWDP) -6.4% pre-market after reporting Q4 revenues came in flat, hurt by lower customer demand for its appliances and automotive products as well as the drop in oil prices.

DWDP says Q4 sales in the materials science business, its biggest revenue generator, fell 1% Y/Y to $11.8B while volumes rose 1%, as margin compression in materials science, lower equity earnings and currency effects all weighed on EBITDA.

CFO Howard Ungerleider says additional headwinds came from a decline in the price of Brent crude and resulted in lower profit margins for its isocyanates and polyethylene products, and the weaker demand for the company’s appliances and automotive products were “more than normal season slowdown.”

Ungerleider also says the company expects global economic expansion to continue in 2019 at a moderately slower pace than 2018.

In a separate slide presentation, DWDP forecasts Q1 revenues falling by mid single digits vs. analyst consensus of a 5% increase, and sees operating EBITDA down by the low teens percentages.

https://seekingalpha.com/news/3428036-dowdupont-minus-6-percent-q4-sales-finish-flat-q1-revs-guided-lower#email_link

Covestro isn’t going anywhere

Being a spinoff of Bayer, we’re sad to see the company leave Robinson, but we’re staying put

Like many in the Pittsburgh community, those of us at Covestro were saddened to hear that Bayer is closing its Robinson Township operations. The news hit close to home. Literally, for us.

Our company not only shares the Robinson campus with Bayer, but up until three years ago, many of us were longtime Bayer employees ourselves. When Bayer spun off its material science business in September 2015, Covestro was born. Today, we operate as two independent companies — connected only by our history, and, for the time being, a cafeteria on the Robinson campus.

Over the past three years, Covestro has worked hard to establish itself as a new company with a new identity. Internally, we began building a more diverse, inclusive and innovative culture. Externally, we began building a new brand and reputation. And we showed our colors. All six shades of our brightly colored logo, which we boldly illuminated in a 48-foot-diameter sign in front of our headquarter building along the Parkway West.

But even a massive logo can’t overshadow 80-plus years of history. When the news broke about Bayer, the emails, texts and phone calls came rolling in, as friends, families and neighbors reached out to see if we were OK. In their minds, Covestro was still part of Bayer.

Bayer always will be a part of Covestro. We’re proud of our heritage, because it shaped the company we are today. And that company — Covestro — will continue to build its future in Pittsburgh.

We made our home here more than 60 years ago, and in that time, the city has seen a lot of change. But what attracted our company to the region then is what keeps us here today — world-class university talent, strong civic leadership and a growing economy. The biggest difference between then and now is Pittsburgh’s transformation from its industrial roots into an innovation hub — an inspiring story of reinvention. Today, Pittsburgh is leading the way in education, health care and technology, while consistently outranking its peers as one of the best places to live and work in America.

Our city — like Covestro — has worked hard to forge a new identity. And Covestro shares the city’s passion for creating a more sustainable future, driven by innovation, collaboration and engaged leadership.

Our city — like Covestro — has been greatly influenced by Bayer. The company and its employees believed strongly in giving back to the community, investing time, money and resources to help the region grow and prosper. Covestro is proud to carry that legacy into the future. It’s easy to give back to a city that has given us so much.

Our city — like Covestro — is differentiated by its people. Hard-working, yes. But also innovative, passionate, resilient and generous.

From where we sit in these buildings along Parkway West, the decision our company forefathers made all those years ago continues to pay off. Pittsburgh is home to our North American headquarters. And will be for years to come.

Jerry MacCleary is chairman and CEO of Covestro LLC.

https://www.post-gazette.com/opinion/Op-Ed/2019/01/29/Covestro-isn-t-going-anywhere/stories/201901290027

Covestro isn’t going anywhere

Being a spinoff of Bayer, we’re sad to see the company leave Robinson, but we’re staying put

Like many in the Pittsburgh community, those of us at Covestro were saddened to hear that Bayer is closing its Robinson Township operations. The news hit close to home. Literally, for us.

Our company not only shares the Robinson campus with Bayer, but up until three years ago, many of us were longtime Bayer employees ourselves. When Bayer spun off its material science business in September 2015, Covestro was born. Today, we operate as two independent companies — connected only by our history, and, for the time being, a cafeteria on the Robinson campus.

Over the past three years, Covestro has worked hard to establish itself as a new company with a new identity. Internally, we began building a more diverse, inclusive and innovative culture. Externally, we began building a new brand and reputation. And we showed our colors. All six shades of our brightly colored logo, which we boldly illuminated in a 48-foot-diameter sign in front of our headquarter building along the Parkway West.

But even a massive logo can’t overshadow 80-plus years of history. When the news broke about Bayer, the emails, texts and phone calls came rolling in, as friends, families and neighbors reached out to see if we were OK. In their minds, Covestro was still part of Bayer.

Bayer always will be a part of Covestro. We’re proud of our heritage, because it shaped the company we are today. And that company — Covestro — will continue to build its future in Pittsburgh.

We made our home here more than 60 years ago, and in that time, the city has seen a lot of change. But what attracted our company to the region then is what keeps us here today — world-class university talent, strong civic leadership and a growing economy. The biggest difference between then and now is Pittsburgh’s transformation from its industrial roots into an innovation hub — an inspiring story of reinvention. Today, Pittsburgh is leading the way in education, health care and technology, while consistently outranking its peers as one of the best places to live and work in America.

Our city — like Covestro — has worked hard to forge a new identity. And Covestro shares the city’s passion for creating a more sustainable future, driven by innovation, collaboration and engaged leadership.

Our city — like Covestro — has been greatly influenced by Bayer. The company and its employees believed strongly in giving back to the community, investing time, money and resources to help the region grow and prosper. Covestro is proud to carry that legacy into the future. It’s easy to give back to a city that has given us so much.

Our city — like Covestro — is differentiated by its people. Hard-working, yes. But also innovative, passionate, resilient and generous.

From where we sit in these buildings along Parkway West, the decision our company forefathers made all those years ago continues to pay off. Pittsburgh is home to our North American headquarters. And will be for years to come.

Jerry MacCleary is chairman and CEO of Covestro LLC.

https://www.post-gazette.com/opinion/Op-Ed/2019/01/29/Covestro-isn-t-going-anywhere/stories/201901290027

January 29, 2019

Karoon Petchem

Karoon Petchem Plant, sole supplier of TDI in ME

TEHRAN, Jan. 29 (MNA) – Iran’s Karoon Petrochemical Plant supplies 100 percent of the Middle East’s toluene diisocyanate (TDI), the plant’s CEO says.

According to Alireza Sadeghizadeh who was speaking to reporters on Monday, January 28, Karoon Petrochemical Plant is the first production of isocyanates and supplied all the TDI consumed in the region.

He said 50 percent of the plant’s output was exported, adding his company also enjoyed a 30% share in methylene diphenyl diisocyanate (MDI) production of the country.

“We have plans to gain the total share of the item’s production in the country by 2021,” he said.

MNA/SHANA

http://en.mehrnews.com/news/141992/Karoon-Petchem-Plant-sole-supplier-of-TDI-in-ME