Page 16 - Plastics News March 2017

CoMPANy NEWS

Mitsui Chemicals expands Arsenal buys part of Covestro’s

breathable film production in PU business

Thailand
rsenal Capital Partners has made another
itsui Chemicals has expanded its manufacturing Apolyurethane foam deal, this time buying part of
Mfacility for breathable films in Thailand as part of Covestro LLC’s business in that market for an undisclosed
its wholly-owned Mitsui Hygiene Materials (Thailand) price. Arsenal is making the deal through its Accella
Co., Ltd. Polyurethane Systems LLC unit. The transaction includes
certain assets of Covestro’s North American spray PU
According to the Tokyo-based chemicals company foam business, which is located in Spring, Texas. The
the expansion, which started up on 28 February, will add sale is expected to be finalized in the second quarter.
4,200-tonne per year of capacity at the Rayong-based plant.
The acquisition “will significantly improve Accella’s
position in the spray
polyurethane foam
market and is another
strategic step with
our positive track
record combining the
best polyurethane
based companies in
Total production capacity at the plant will be 10,900 the industry,” Accella
tonnes a year.“our nonwoven business, which is part of President and CEo Andy Harris said in a news release.
the healthcare business sector, aims to further expand “Moving forward, Accella intends to focus on investing in
by supplying premium diaper manufacturers in the and growing our spray foam business to meet the needs
growing markets of Japan and the rest of Asia,” said of our valued customers,” he added. Chris Brink, Accella
Mitsui Chemicals. PU systems vice president, added that the firm “will
continue to raise the position of [spray polyurethane
Henkel reports sales and foam] as the preferred insulation choice in modern
residential and commercial construction.”
earnings at record levels
The combination “further strengthens Accella’s position
3.5% to 18,714 million euros 2016 was a very successful as the leading independent polyurethane systems house
year for Henkel. In a challenging market environment, we in North America,” according to Arsenal partner John
achieved again new record levels for sales and earnings Televantos.Covestro LLC is the Pittsburgh-based North
and met our financial targets for the fiscal year. We American arm of global materials maker Covestro AG
delivered a high quality of earnings. For the first time of Leverkusen, Germany. The firm ranks as one of
we reached a the world’s largest producers of polycarbonate and

Henkel expects to generate organic sales growth of 2 to 4 other specialty plastics. Arsenal — a New York-based
percent in the fiscal year 2017. Henkel expects that each private equity firm — now has made 21 plastics-related
business unit will generate organic sales growth within acquisitions since 2012. Most recently, in April 2016
this range. For adjusted return on sales (EBIT), Henkel Arsenal bought a majority stake in Peterson Chemical
expects an increase versus the prior year to more than Technology LLC, a foam technology firm based in Fort
17.0 percent. Henkel expects an increase in adjusted Smith, Ark.
earnings per preferred share of between 7 and 9 percent.

Plastics News | March 2017 16