General business - Articles - Page 129 | Adhesives & Sealants Industry

BASF Closes Divestiture of Construction Chemicals Business

With around 7,500 employees, the Construction Chemicals business operates production sites and sales offices in more than 60 countries and generated sales of about €2.6 billion (~ $3.1 billion) in 2019.

October 8, 2020

BASF recently announced that it has closed the divestiture of its Construction Chemicals business to an affiliate of Lone Star, a global private equity firm.

M&A Corner

COVID-19: The Black Swan

Though the COVID-19 pandemic caused a major slowdown in merger and acquisition activity, strategic and "bolt-on" deals are still getting done.

Andy Hinz

October 7, 2020

As we headed in to 2020, merger and acquisition (M&A) activity in chemicals and materials was humming along at near-historical levels. High valuations did not seem to deter buyers, with private equity (PE) firms clamoring to place capital and strategic buyers motivated for acquisitions to bolster their growth and help justify their high stock prices.

Ashland Completes Sale of Maleic Anhydride Business to AOC Materials

The transaction was valued at $100 million.

October 6, 2020

Ashland Global Holdings Inc. recently announced that it has closed the sale of its maleic anhydride business and manufacturing facility in Neal, W.Va., to AOC Materials LLC.

Covestro to Acquire DSM’s Coating Resins Business

Covestro agreed to a purchase price of approximately €1.6 billion (~ $1.9 billion), which will be financed through a combination of equity and debt instruments.

October 5, 2020

Covestro recently announced that it has signed an agreement to acquire the Resins and Functional Materials business (RFM) of Royal DSM.

Shelar Named Innovation and Technology Team Leader for Chromaflo Technologies

Smita Shelar is responsible for systematically improving existing product performance, developing and launching new innovative technologies, and driving Chromaflo’s alternate raw materials (ARMs) program.

October 5, 2020

Chromaflo Technologies recently announced that Smita Shelar has been appointed Innovation and Technology team leader.

Hexion to Sell Phenolic Specialty Resins, Hexamine, and Forest Products Resins Businesses

The transaction includes approximately 900 associates and 11 manufacturing facilities globally, where phenolic specialty resins and engineered thermoset molding compounds are produced.

October 2, 2020

Hexion Inc. recently announced that it has entered into a definitive agreement to sell multiple businesses to Black Diamond and Investindustrial for approximately $425 million.

Dar-Tech Appoints Tabasso Marketing Director

Gina M. Tabasso is responsible for enhancing Dar-Tech’s brand, serving current customers’ and suppliers’ marketing needs, and generating leads through traditional and digital marketing channels.

October 2, 2020

Gina M. Tabasso has been named Dar-Tech Inc.’s new marketing director.

Dow Outlines Details of Restructuring Program

Dow is implementing a restructuring program to reduce its global workforce costs by approximately 6% and to rationalize certain manufacturing assets.

October 1, 2020

Dow Inc. recently outlined a series of actions it will take in an effort to achieve structural cost improvement targets as the global economy recovers from the coronavirus pandemic.

Palmer Holland Expands Distribution Relationship with 3M into Canada

The territory expansion builds on Palmer Holland’s existing responsibilities as a national distributor of 3M Advanced Materials products in the U.S.

October 1, 2020

Palmer Holland recently announced that it will be expanding its distribution of 3M Advanced Materials to Canada.

Bostik to Acquire Italy-Based Ideal Work

Founded in 1997, Ideal Work reportedly has annual sales of around €10 million (approximately $11.6 million) and employs 25 people.

September 30, 2020

Arkema recently announced that Bostik will reinforce its range of flooring products with the planned acquisition of Ideal Work, an Italian company specialized in added-value decorative flooring technologies.