Asian Paints 1Q 2016-2017 net profit up 17%

Asian Paints 1Q 2016-2017 net profit up 17%

FOCUS of its investments in overseas subsidiaries, the transaction was completed on 19 Sep 2016. Original Source: Business Line, 20 Sep 2016, 23 (224...

35KB Sizes 2 Downloads 241 Views

FOCUS of its investments in overseas subsidiaries, the transaction was completed on 19 Sep 2016.

Original Source: Business Line, 20 Sep 2016, 23 (224), 12 (Website: http://www. thehindubusinessline.com), Copyright The Hindu Business Line 2016

Albemarle sells Chemetall to BASF for $3.2 bn BASF has resolved to acquire the Chemetall metal surface treatment unit from Albemarle through a $3.2 bn deal. The transaction is anticipated to conclude by end-2016 and can help reduce Albemarle's $3.6 bn debt. In 2015, Chemetall recorded $202 M earnings upon $845 M sales of products intended for priming metals for painting and preventing corrosion. Of Chemetall sales, around 20% are in Asia, 30% in North America and 50% in Western Europe. The coatings segment of BASF, which already records $3.6 bn/y of sales, will be augmented by 2500 employees, 10 R&D sites and 21 manufacturing locations in 20 countries. Separately, Albemarle recently divested units in metal sulfides and mineral flame retardants that have $300 M/y of total sales. In 2015, Albemarle tagged its fine chemistry services unit for divestment, but no progress has been reported for the deal. The fine chemistry services unit records $200 M/y of sales.

Original Source: Chemical and Engineering News, 27 Jun 2016, 94 (26), 11 (Website: http://cen.acs.org/index.html), Copyright American Chemical Society 2016

Asian Paints 1Q 2016-2017 net profit up 17% Asian Paints' income from operations totaled Rup 4082.1 crores for the quarter ended 30 Jun 2016 (1Q 2016-2017), up 10.2% from Rup 3703.0 crores in 1Q 2015-2016. PBDIT also increased by 20.9% year-on-year to Rup 820.3 crores from Rup 678.6 crores, while net profit after minority interest grew by 17.9% year-onyear to Rup 535.0 crores from Rup 453.7 crores. The firm's Indian decorative business recorded double digit growth in 1Q 2016-2017, with reduced raw material costs enhancing margins. Industrial segment performed well in the Industrial Liquid Paints category for the firm's AP-PPG joint venture, while the other joint venture PPG-AP tallied good demand in the Auto OEM and General Industrial sector. The company's International business recorded good results on the back of good growths in markets like Fiji, Nepal and UAE. (1 crore=10 M, 1 lakh=100,000).

Original Source: APCJ, Asia Pacific Coatings Journal, Aug-Sep 2016, 29 (4), 7 (Website: http://www.asiapacificcoatingsjournal.com/), Copyright dmg events 2016

BASF boosts R&D in Asia Pacific for automotive coatings BASF has installed a new state-of-the-art coatings and coating resins laboratories at the BASF Innovation Campus Asia Pacific in

November 2016

ON

POWDER

Shanghai, China. The firm's R&D experts are focused on addressing customers' increasing demands for high-performance, quality and flexible automotive coating products with less environmental impact. BASF aims to add R&D specialists in Asia Pacific, specifically in China.

Original Source: APCJ, Asia Pacific Coatings Journal, Aug-Sep 2016, 29 (4), 7 (Website: http://www.asiapacificcoatingsjournal.com/), Copyright dmg events 2016

Growth and profitability in India: Asian Paints Asian Paints is now Asia's third biggest paint company following Nippon Paint and Kansai Paint. The firm recorded an 8.7% growth in its Indian paints and coatings net sales to Rup 126.3 bn from Rup 116.2 bn on over 28% increase in profit to Rup 26.3 bn from Rup 20.5 bn. The company's newer kitchen and bathroom operations rose by 32% to Rup 1070 M from Rup 810 M. These small interests have currently recorded worsening loss of Rup 302 M from Rup 98 M. Asian Paints' industrial coatings joint venture, AP-PPG, recorded decent performances in the powder coatings and industrial liquid paints segments. The automotive OEM segment under the firm's automotive coatings joint venture, PPG-AP, experienced demand recovery. The International business unit benefitted on strong performances in key markets like Bangladesh and the Middle East.

Original Source: APCJ, Asia Pacific Coatings Journal, Aug-Sep 2016, 29 (4), 14 (Website: http://www.asiapacificcoatingsjournal.com/), Copyright dmg events 2016

Growth and profitability in India: Berger Paints In FY 2015-2016, Berger Paints' Indian operations generated Rup 41.3 bn of annual sales and income, up by 8.6% from Rup 38.0 bn in FY 2014-2015. Profits also increase by a third to Rup 3.54 bn from Rup 2.66 bn. Including the firm's other International operations, Berger Paints recorded Rup 46.3 bn of consolidated sales and income, a 7.2% growth from Rup 43.2 bn. Consolidated profits rose drastically by almost 40% to nearly Rup 3.7 bn from Rup 2.6 bn that has helped the company emerge as India's second largest company in the paints and coatings market after Asian Paints.

Original Source: APCJ, Asia Pacific Coatings Journal, Aug-Sep 2016, 29 (4), 14,18 (Website: http://www. asiapacificcoatingsjournal.com/), Copyright dmg events 2016

BASF helps automakers meet US EPA greenhouse gas regulations BASF helps automakers decrease CO2 emissions from cars with combustion engines in order to meet the US Environmental Protection Agency (EPA) greenhouse gas

C OAT I N G S standards. Several products of BASF assist in the reduction of CO2 for the automotive industry, including lubricants, coatings and fuel additives. The company has created an integrated paint process at the automotive manufacturing facility that lessens material consumption, saves energy costs from 1520%, cuts the length of the production line and decreases CO2 emissions by up to 20%. The company's energy efficient lubricants help cut fuel consumption by significantly decreasing wear and friction in transmissions and axles, while surpassing the expectations of fill-for-life durability requirements. Its fuel additives protect the fuel system, improve engine cleanliness, and cut the emission of harmful substances and greenhouse gases.

Original Source: Coatings World, Sep 2016, 21 (9), 124 (Website: http://www.coatingsworld. com), Copyright Rodman Media 2016

Tower at PNC Plaza with PPG Coatings Earns Architectural Award PPG says that the Tower at PNC Plaza in Pittsburgh, which features an innovative double-skin façade fabricated with Coraflon Sunstorm powder coatings by PPG, has earned Architect magazine's 2016 R+D Award for High-Performance Building. The doubleskin façade, one of the first of its kind in North America, combines with two vertical thermal shafts and a solar chimney to naturally ventilate the 33-story skyscraper without electricity or fan power for 42 percent of the year. As a result, the Tower at PNC Plaza, which opened Oct. 1, 2015, is expected to consume up to 50-percent less temperaturecontrol-related energy than comparable buildings of its size. The inner and outer curtain walls incorporate metal framing finished with Coraflon Sunstorm fluoropolymer powder coating in "mica gray''. Coraflon Sunstorm powder coatings meet or exceed American Architectural Manufacturers Association (AAMA) 2605 specifications, the industry's most rigorous standard for weathering, corrosion and chemical resistance, color and gloss retention, and other criteria. They are formulated without solvents and emit virtually no volatile organic compounds (VOCs). Editors for Architect magazine wrote that jurors for the 2016 R+D Awards were most impressed by the design and functionality of the double-wall façade.

Original Source: PPG Industries, Found on Products Finishing 19 Oct 2016 (Website: www.pfonline.com), Copyright PPG Industries 2016

Berger Paints will invest Rup 500 crore for expansion Berger Paints India Ltd, the country's second biggest paint producer, will spend about Rup 500 crore over the next three years (until FY 2020) on capacity expansion and construction of new facilities to raise overall industrial and decorative paints capacity by almost 25% or by 10,000 tonnes/mo. The firm's capacity

3