This Week's Top Stories: Wednesday, 29th July 2015
Solvay plans to acquire Cytec in €5bn deal
Belgium-headquartered chemicals giant Solvay has announced plans to buy US composite materials firm Cytec in a $5.5bn (€5bn) deal. Solvay said it hoped the deal would push the company to become the world's second largest player in aerospace composite materials.
BASF announces sales rise of 3% for H1 2015
Chemicals giant BASF has seen sales rise 3% in the first-half of the year, boosted in part by the positive effects of currency translations. Half-year revenue at the German firm was €39.1bn, while sales in the second quarter grew by 3% to €19.1bn compared with the same period last year.
Gerresheimer expands in US by acquiring Centor
Global medical disposables producer Gerresheimer plans to expand its presence in North America by acquiring Centor US Holding, a former Rexam plc business based in Perrysburg, Ohio. Centor of Perrysburg, Ohio, is the leader in the US prescription plastic vial retail market for oral drugs, according to Gerresheimer.
Dow's profits rise even as sales fall
Dow Chemical has wrapped up a first half in which profit rose even as sales fell. Midland, Michigan, US-based Dow reported second-quarter and first-half results on 23 July. Overall company sales for the half fell 14% vs. the first half of 2014 to less than $25.3bn (€23.1bn), while profit jumped by one-third to more than $2.7bn (€2.4bn).... more
Huhtamaki sees sales increase for H1 2015
Finland-based plastics packaging group Huhtamaki has announced that sales for the first half of 2015 were up 23% on the first half of 2014, growing from €1.09bn to €1.34bn. For the second quarter of 2015 the company reported sales of €714m up from €579m for the same period of 2014. The company’s Flexible Packaging business segment also saw sales rise from €303m for the first half of 2014 to €431m for the first half of 2015.
IBERS joins European bioplastic packaging initiative
The Institute of Biological, Environmental and Rural Sciences (IBERS) at Aberystwyth University, UK has announced that it is leading the consortium ADMIT BioSuccInnovate, an initiative funded by the European Institute of Innovation & Technology (EIT), along with Reverdia and other European partners.
Johnson Electric invests €50m at Serbian plant
Johnson Electric is aiming to take on as many as 2,400 new workers at its production facility in Nis, Serbia, the country’s government said in a statement. Serbia’s Minister of Economy Zeljko Sertic, Mayor of Nis Zoran Perisic and senior company representatives have signed a memorandum of understanding on the project. The investment is estimated to be worth some €50m.
Stork to sell Sepro robots under own name
Stork IMM in the Netherlands, which specialises in injection moulding machines for packaging applications, has signed an agreement to sell top-entry Cartesian robots made by Sepro under the Stork brand name. The deal, which covers worldwide markets, has emerged from “a friendly relationship in recent years”, said Stork and France-based Sepro.
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