View
222
Download
4
Embed Size (px)
Citation preview
4 MARCH 2011
F O C U S O N P O W D E R C O A T I N G S
Earnings mixed at early-reportingchemicals firms: 4Q 2010
Early-reporting chemicals firms,PPG Industries, HB Fuller andOmnova Solutions, posted varyingfinancial results for 4Q 2010.PPG reported a 44% increase inearnings to $205 M ($1.24/share)including an asbestos-relatedexpense of $2 M. Sales were$3.4 bn, up 8%, on highervolumes and selling prices inmost segments partially offset byincreasing feedstock costs.Earnings improved in all PPGdivisions excluding architecturalcoatings and industrial coatings inAfrica, Europe and Mideast.PPG’s performance coatingsdivision posted a 14% hike to$170 M in profits, on highervolumes and lower cost structure.HB Fuller registered an 11% dropto $21.9 M ($0.44/share) in netincome for 4Q ended 27 Nov2010, on sales up 6% to $360.2M. Omnova posted a net incomeof $81.5 M for 4Q ended 30 Nov2010, up from $11.1 M in thesame quarter last year. Salesgrew 10% to $208 M. A tablepresents 4Q 2010 sales andearnings of PPG Industries, HBFuller and Omnova Solutions.
Chemical Week, 24 Jan 2011, (Website:http://www.chemweek.com)
PPG reports record 4Q 2011 sales,earnings/share
PPG Industries (PPG) reportedrecord sales for 4Q ended Dec2010 of $3.4 bn. Reported netincome for 4Q 2010 increased to$205 M, or $1.24/share. For 4Q2009 sales were $3.1 bn, andreported net income was $142 M,or 85 cts/share. PPG’s 4Q 2010adjusted net income was $207 M,or $1.25/share (adjusted netincome of $144 M, or 86cts/share in 4Q 2009). PPG’sannual sales for year ended DEc2010 were $13.4 bn, (+10% over$12.2 bn in 2009). PPG’s 2010adjusted net income was $862 M,or $5.18/share, (adjusted netincome of $485 M, or $2.94/sharein 2009). Reported net income for
2010 increased to $769 M, or$4.63/ share (reported net incomewas $336 M, or $2.03/share in2009).
Performance Coatings segmentsales in 4Q 2010 increased $76M, or 7%, over 4Q 2009 as aresult of higher selling prices andvolumes that improved in everyregion. Volumes in thearchitectural coatings – Americasand Asia/Pacific business wereflat. Segment earnings grew $21M, or 14%, to a record $170 Mas a result of the volume gainsand a lower cost structure.Industrial Coatings segment salesfor 4Q 2010, rose $90 M, or10%, versus 4Q 2009. Segmentearnings for 4Q 2010 were $79M, a decrease of $10 M from 4Q2009. Sales for the ArchitecturalCoatings – EMEA (Europe,Middle East and Africa) segmentfor 4Q 2010 decreased $31 M, or7%, from 4Q 2009. Segmentearnings declined $9 M due tothe lower sales volumes. TheOptical and Specialty Materialssegment delivered record 4Q2010 sales and earnings.Segment sales for 4Q 2010increased $23 M, or 9%, over 4Q2009. Segment earnings improved$10 M to $57 M, primarily as aresult of the higher salesvolumes, offset slightly byincreased selling and advertisingcosts to support the sales growth.Commodity Chemicals segmentsales for 4Q 2010, increased $70M, or 23%, versus 4Q 2009 dueto higher pricing. Segmentearnings for 4Q 2010 grew $65 Mdue to the improved pricing,partially offset by highermaintenance costs. Glasssegment sales increased $35 M,or 16%, for 4Q 2010 as a resultof improved volumes and pricing.Segment income was $29 M, animprovement of $28 M due tolower manufacturing costs, highervolumes and the impact of higherpricing.
PPG Industries’ vision is tocontinue to be the world’s leadingcoatings and speciality productscompany. Founded in 1883, thecompany serves customers in
industrial, transportation,consumer products, andconstruction markets andaftermarkets. The financial figuresfor the company are presented intables.
PPG results 4Q and 2010, 20 Jan 2011,(PPG Industries Inc, One PPG Place,Pittsburgh, PA 15272, USA, tel: +1 412 4343131, website: http://www.ppg.com)
Jotun closes Egyptian plant
Jotun shut down all productionand other activities at its plant inIsmaila, Egypt, until further noticein January, and the 290employees were asked to stay athome and protect their familiesand property. No employees wereknown to have been hurt by orparticipated in the unrest at thetime.
Hegnar Online, 30 Jan 2011, (Website:http://www.hegnar.no) (in Norwegian)
Jotun plans for GCC growth in2011
Jotun Powder Coatings aims toattain a 15% growth in the GulfCooperation Council (GCC)nations during 2011. A subsidiaryof Norway-based Jotun Group,Jotun Powder Coatings UAE aimsto focus on product innovationand to formulate renewable andtechnologically advanced coatingsto satisfy the diverserequirements of different userindustries during its next strategicperiod.
PPCJ, Polymers, Paint, Colour Journal, Jan2011, 201 (4556), 8 (Website:http://www.polymerspaintcolourjournal.com/)
Oxea hikes neopentyl glycol outputin line with demand growth
Oxea intends to boost capacityfor neopentyl glycol (NPG) to45,000 tonnes/y at its site inOberhausen, Germany by mid-2011, in response to rising globaldemand for the material for usein eco-efficient powder coatingresins and lubricants. Oxea’sexpansion plan follows LGChem’s announcement that it will