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
January 10, 2023
India’s Sheela Foam to buy rival mattress maker Kurlon for $241 mln- ET Now
BENGALURU, Dec 28 (Reuters) – Indian mattress maker Sheela Foam Ltd (SHEF.NS) will soon acquire competitor Kurlon for 20 billion rupees ($241.29 million), ET Now reported on Wednesday, citing sources.
Should the deal go through, Sheela Foam could command a market share of 35-40%, Moneycontrol had reported last month, quoting a person familiar with the planned deal.
Sheela Foam and Kurlon did not immediately respond to Reuters’ requests for comment.
Sheela Foam, which sells the “Sleepwell” brand of mattresses, is the only listed mattress maker in the country.
The Ghaziabad-based company has a 25% market share in the sector, according to a note by ICICI Securities. The brokerage pegs India’s modern mattresses sector at 175 billion rupees.
Sheela Foam shares rose as much as 5% to 1,338 rupees following the report.
News of the potential acquisition comes as Kurlon Chairman and Managing Director Sudhakar Pai is looking to hand over the reins, the Moneycontrol report added.
It also comes at a time when other industry players like Duroflex, Springwell and The Sleeping Co have raised money from private equity firms over the past few years, according to multiple media reports.
Kurlon’s annual consolidated net profit has declined from 760.9 million rupees in fiscal year 2020 to 179.7 million rupees in fiscal year 2022.
Started in 1962 as Karnataka Coir Products Ltd, Kurlon currently has nine plants and 72 branch and stock points across India.
($1 = 82.8880 Indian rupees)
January 6, 2023
2023 New Year Address from Wanhua Chemical’s Chairman
TIME：2022-12-31
Dear all:
As we bid farewell to the old year and welcome the new, I would like to extend my heartfelt thanks and sincere wishes to all employees, their families, partners, and friends from all walks of life who have supported the development of the company. I also want to express my gratitude to all the Wanhua people who are working hard in various locations, both domestically and abroad, on all fronts. Thank you for your hard work!
Looking back on the past year, we have seen the severe impact of the pandemic and the downward period of global chemical industry. With the combined efforts of all staff, we have overcome challenges, allowing Wanhua to take another solid step forward on our great journey.
In 2022, all Wanhua employees lived up to the core value of “customer orientation” and earned the trust of our customers. Despite repeated shocks from the pandemic, the staff of all production bases stood firm and supported each other to ensure the plants’ stable operation, met the customers’ needs, and fought for high-quality delivery.
In 2022, we pioneered innovation and win-win cooperation. Key breakthroughs have been made in the innovation of high-performance engineering plastics products. The successful production of silicon copolymerized PC and nylon 12 has produced one highlight after another. The joint work between the universities and Wanhua is proving fruitful. We are cooperating with Peking University, East China University of Science and Technology, Beijing University of Chemical Technology, and other universities to carry out research projects and explore the technology frontier in the field of new chemical materials, which will provide unlimited possibilities for the sustainable development.
In 2022, the construction of new projects has been continuing rapidly. The ethylene project (phase II), the fine chemicals integration, and Penglai Industrial Park (Phase I) project were successfully kicked off, adding new momentum to the construction of our world-leading chemical company. The bisphenol A plant, Fujian MDI integration project and Sichuan acetylene industry chain project were put into operation. Behind each achievement is the courage and sweat of thousands of staff in Wanhua and the shoulders of involved partners.
In 2022, the excellent operation started a new chapter. On one hand, the company’s “dual-carbon” strategy is steadily advancing, with remarkable economic, social, and environmental benefits, empowering “Green Wanhua”. On the other hand, “Smart Wanhua” has reached a new level to provide digital support for excellent operations. S4/HANA has been fully launched and adopted by our global business. Also, we have never stopped exploring the boundary of Wanhua Chemical and have established battery materials and technology company, integrating internal and external resources to accelerate the further development of our new energy business and create a second growth curve. Furthermore, we continued to enhance the long-term motivation of the staff by implementing a stock ownership incentive.
In 2022, talent building has accelerated. More than 5,000 new employees have joined our family, bringing new vitality to the development of the company. With the mission of cultivating “talents with six dimensions”, we fully integrated internal and external resources to accelerate the enhancement of leadership, professional and vocational abilities. A special training session has been conducted for production teams, which enhanced the operation stability. With the full cooperation, it strengthens the ability and level of production talents and forges a high-level production backbone group.
In 2022, you stood firm in the front, you were fearless to push forward, you were busy in advancing, you persevered… Thousands of efforts shined and the love rooted in the heart of every person in Wanhua became the source of strength for us to overcome difficulties and challenges.
The new year is the start of the company’s five-year general policy of “implementing high-quality investment strategy and consolidating the foundation of sustainable development”. We should grasp the “Year of Projects”, plan projects more scientifically and sustainably, realize more efficient and high-quality investments, and help Wanhua achieve great development. We should insist on building Wanhua’s excellent culture progressively, continuously stimulate the sense of mission and creativity of talents, cultivate more “talents with six dimensions”, and to shape first-class innovation ability with first-class talent. At the same time, we will strengthen the organizational efficiency, optimize the systems and procedures, consolidate the safety management capability, and enhance the level of excellent operation.
“Rome was not build in a day”. Going forward we will continue to bravely fight against difficulties and challenges, strive to build a world-class chemical new materials company and create a more fruitful era.
Finally, I wish you all good health, happiness, and good luck in the new year!
Chairman: Liao Zengtai
December 31, 2022
January 6, 2023
2023 New Year Address from Wanhua Chemical’s Chairman
TIME ：2022-12-31
Dear all:
As we bid farewell to the old year and welcome the new, I would like to extend my heartfelt thanks and sincere wishes to all employees, their families, partners, and friends from all walks of life who have supported the development of the company. I also want to express my gratitude to all the Wanhua people who are working hard in various locations, both domestically and abroad, on all fronts. Thank you for your hard work!
Looking back on the past year, we have seen the severe impact of the pandemic and the downward period of global chemical industry. With the combined efforts of all staff, we have overcome challenges, allowing Wanhua to take another solid step forward on our great journey.
In 2022, all Wanhua employees lived up to the core value of “customer orientation” and earned the trust of our customers. Despite repeated shocks from the pandemic, the staff of all production bases stood firm and supported each other to ensure the plants’ stable operation, met the customers’ needs, and fought for high-quality delivery.
In 2022, we pioneered innovation and win-win cooperation. Key breakthroughs have been made in the innovation of high-performance engineering plastics products. The successful production of silicon copolymerized PC and nylon 12 has produced one highlight after another. The joint work between the universities and Wanhua is proving fruitful. We are cooperating with Peking University, East China University of Science and Technology, Beijing University of Chemical Technology, and other universities to carry out research projects and explore the technology frontier in the field of new chemical materials, which will provide unlimited possibilities for the sustainable development.
In 2022, the construction of new projects has been continuing rapidly. The ethylene project (phase II), the fine chemicals integration, and Penglai Industrial Park (Phase I) project were successfully kicked off, adding new momentum to the construction of our world-leading chemical company. The bisphenol A plant, Fujian MDI integration project and Sichuan acetylene industry chain project were put into operation. Behind each achievement is the courage and sweat of thousands of staff in Wanhua and the shoulders of involved partners.
In 2022, the excellent operation started a new chapter. On one hand, the company’s “dual-carbon” strategy is steadily advancing, with remarkable economic, social, and environmental benefits, empowering “Green Wanhua”. On the other hand, “Smart Wanhua” has reached a new level to provide digital support for excellent operations. S4/HANA has been fully launched and adopted by our global business. Also, we have never stopped exploring the boundary of Wanhua Chemical and have established battery materials and technology company, integrating internal and external resources to accelerate the further development of our new energy business and create a second growth curve. Furthermore, we continued to enhance the long-term motivation of the staff by implementing a stock ownership incentive.
In 2022, talent building has accelerated. More than 5,000 new employees have joined our family, bringing new vitality to the development of the company. With the mission of cultivating “talents with six dimensions”, we fully integrated internal and external resources to accelerate the enhancement of leadership, professional and vocational abilities. A special training session has been conducted for production teams, which enhanced the operation stability. With the full cooperation, it strengthens the ability and level of production talents and forges a high-level production backbone group.
In 2022, you stood firm in the front, you were fearless to push forward, you were busy in advancing, you persevered… Thousands of efforts shined and the love rooted in the heart of every person in Wanhua became the source of strength for us to overcome difficulties and challenges.
The new year is the start of the company’s five-year general policy of “implementing high-quality investment strategy and consolidating the foundation of sustainable development”. We should grasp the “Year of Projects”, plan projects more scientifically and sustainably, realize more efficient and high-quality investments, and help Wanhua achieve great development. We should insist on building Wanhua’s excellent culture progressively, continuously stimulate the sense of mission and creativity of talents, cultivate more “talents with six dimensions”, and to shape first-class innovation ability with first-class talent. At the same time, we will strengthen the organizational efficiency, optimize the systems and procedures, consolidate the safety management capability, and enhance the level of excellent operation.
“Rome was not build in a day”. Going forward we will continue to bravely fight against difficulties and challenges, strive to build a world-class chemical new materials company and create a more fruitful era.
Finally, I wish you all good health, happiness, and good luck in the new year!
Chairman: Liao Zengtai
December 31, 2022
January 3, 2023
Univar Solutions Confirms End to Preliminary Discussions with Brenntag SE; Evaluating Other Indications of Interest
News provided by Univar Solutions Inc.
Jan 02, 2023, 20:45 ET
DOWNERS GROVE, Ill., Jan. 2, 2023 /PRNewswire/ — Univar Solutions Inc. (NYSE: UNVR) (“Univar” or “the Company”), a leading global solutions provider to users of specialty ingredients and chemicals, today confirmed that Brenntag SE has ended its discussions with the Company about a potential transaction. The Company and its Board of Directors are committed to acting in the best interest of its stockholders and will continue discussions relating to other indications of interest that have been received with respect to a potential transaction.
There can be no assurance that the ongoing process will result in any transaction. The Company does not intend to make any additional comments regarding this matter unless and until it is appropriate to do so.
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world’s leading producers. With the industry’s largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at www.univarsolutions.com.
January 3, 2023
Univar Solutions Confirms End to Preliminary Discussions with Brenntag SE; Evaluating Other Indications of Interest
News provided by Univar Solutions Inc.
Jan 02, 2023, 20:45 ET
DOWNERS GROVE, Ill., Jan. 2, 2023 /PRNewswire/ — Univar Solutions Inc. (NYSE: UNVR) (“Univar” or “the Company”), a leading global solutions provider to users of specialty ingredients and chemicals, today confirmed that Brenntag SE has ended its discussions with the Company about a potential transaction. The Company and its Board of Directors are committed to acting in the best interest of its stockholders and will continue discussions relating to other indications of interest that have been received with respect to a potential transaction.
There can be no assurance that the ongoing process will result in any transaction. The Company does not intend to make any additional comments regarding this matter unless and until it is appropriate to do so.
About Univar Solutions
Univar Solutions (NYSE: UNVR) is a leading global specialty chemical and ingredient distributor representing a premier portfolio from the world’s leading producers. With the industry’s largest private transportation fleet and technical sales force, unparalleled logistics know-how, deep market and regulatory knowledge, formulation and recipe development, and leading digital tools, the Company is well-positioned to offer tailored solutions and value-added services to a wide range of markets, industries, and applications. While fulfilling its purpose to help keep communities healthy, fed, clean and safe, Univar Solutions is committed to helping customers and suppliers innovate and focus on Growing Together. Learn more at www.univarsolutions.com.
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