Cytec posts 26% 1Q 2013 sales rise, adjusts reporting structure

Cytec posts 26% 1Q 2013 sales rise, adjusts reporting structure

MARKETS its Safi site on the Dead Sea in Jordan. This phase of the expansion doubles the site’s bromine production capacity. The expansion has been a...

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its Safi site on the Dead Sea in Jordan. This phase of the expansion doubles the site’s bromine production capacity. The expansion has been achieved with only an 8% increase in water consumption, Albemarle reports. The second phase will double capacity for key bromine derivatives hydrobromic acid, calcium bromide and sodium bromide. Albemarle is a leading marketer of bromine and manufacturer of bromine derivatives and other speciality chemicals, including brominated flame retardants. JBC is a joint venture between Arab Potash Co and Albemarle Holding Co, Ltd, a wholly owned subsidiary of Albemarle Corp. The partners commenced construction of the existing facilities in 2001, and operations began in early 2003. Contact: Albemarle Corp, Baton Rouge, LA, USA. Tel: +1 225 388 7402, Web: www.albemarle.com

Cytec posts 26% 1Q 2013 sales rise, adjusts reporting structure

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ew Jersey-based Cytec Industries Inc reported net earnings attributable to the company of US$33.5 million for the first quarter of 2013 and net sales from continuing operations of $477.4 million. For the first quarter in 2012, net earnings attributable to Cytec were $53.1 million and net sales from continuing operations were $378.1 million. According to CEO Shane Fleming, Cytec’s first quarter 2013 revenue growth met overall expectations as the company anticipated ‘a modest start to the year’ with stronger growth in the remaining quarters of 2013. Although several segments experienced negative impacts in the first quarter, Fleming says he is ‘extremely excited about the opportunities ahead’ as the company begins ‘operating as a new Cytec’ following the divestiture of Coating Resins, which was completed on 3 April 2013. To reflect the realigned operating structure of the business, Cytec has updated its segment reporting structure, effective for the first quarter of 2013, with the addition of new Aerospace and Industrial Materials segments in the place of Engineered Materials and Umeco. The changes reflect a ‘more strategic approach’ to customers served by these segments and are designed

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Additives for Polymers

to support growth and opportunities unique to each business, it says. The Aerospace Materials segment includes the advanced composites, carbon fibre and structural film adhesives previously included in the Engineered Materials segment, and the aerospace product lines from Umeco. The Industrial Materials segment includes the high-performance industrial products previously in Engineered Materials, and process materials, structural industrial and distribution industrial product lines from Umeco. The In Process Separation segment (mining chemicals and phosphine) and Additive Technologies segment, which includes the polymer additives, speciality additives and formulated resins product lines, remain unchanged. In Additive Technologies, 1Q sales increased 1% in 2013 to $69 million, with overall selling volumes up 2% versus 1Q 2012. This was primarily due to higher demand for polymer additive products for the agricultural film market in Europe and general demand improvement for differentiated technologies in North American markets, partially offset by lower selling volumes for speciality additive products in both regions. Operating earnings of $8.0 million were up versus $6.4 million in 1Q 2012, mostly due to higher selling volumes in the polymer additive product line, favourable product mix and lower raw material costs. Contact: Cytec Industries Inc, Woodland Park, NJ, USA. Tel: +1 973 357 3100, Web: www.cytec.com

MARKETS World demand for flame retardants forecast to grow 5.4% per year till 2016

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he global market for flame retardant additives is forecast to rise from 1.9 million tonnes in 2011 to some 2.6 million tonnes in 2016 at an average annual growth rate of 5.4%, according to a new industry study from the Freedonia group World Flame Retardants (#2987). The Asia/Pacific region will continue to be the largest and fastest-growing market, and is expected to account for more than half of

June 2013