5.13 Akzo Confirms Negotiations for Courtaulds Takeover

Chemical Week: April 1998

Akzo Nobel has confirmed that it is in negotiations that may lead to a takeover bid for all of Courtaulds for about £ 1.8 billion. If the deal is successful, Akzo would leapfrog ICI to become the world’s largest paints and coatings maker by a considerable margin. Courtaulds’s leadership in marine coatings would be a valuable addition for Akzo, sources said.

5.12 Jotun has good 1997

European Coatings Journal, April 1998

1997 saw the Jotun group reporting sales of NOK 5,166 million. This figure was NOK 70 million down on 1996 due to the sale of the Jotun Polymer division in September. Profit before tax rose from NOK 268 million in 1996 to NOK 1,112 million, largely thanks to extraordinary income from the sale of Jotun Polymer. "The group's 1997 results are the best ever and we are very pleased with our financial progress," states President & CEO Gunnar Hjartland. "While the sale of one of Jotun's divisions generated considerable extraordinary income, it should also be noted that profit on ordinary activities increased by 37%."

5.11 Environmental influence wood coatings in US

Coatings World, March 1998

The 1998 outlook for U.S. wood coatings shows manufacturers adapting to environmental regulations while trying to establish success in markets outside the US. Regulations call for coatings companies to be compliant with required VOC and HAP levels. To comply with these regulations, companies have turned to water base systems. Such a transition can have a positive affect on the environment but the jury is still our concerning its affect on the quality of the coating system. Aaron M. Undeland for Van Technologies, Duluth, MN said the "environmental side will be gaining over the next few years". They are currently testing water coatings for the hardwood floor industry.

Sherwin-Williams Chuck Susnis said the company has revamped its line of wood coatings to meet HAP requirements. It is currently utilizing UV technology for wood coatings for the first time. Mike McEnroe for the Flood Company, Hudson, OH pointed out that a product must have a lower VOC level depending on where it is sold in states like California; in other states the VOC level can be higher. Dore Ripley, President of Performance Coatings, Ukiah, CA said that often lower VOC products do not last as long as those with a higher VOC content. Therefore customers end up using the VOC products more often which in the long run creates a significant amount of VOCs.

New Wood Coatings

As a result of the prominent environmental debate, new products are being developed that tout environmental friendly characteristics such as Okon’s Natural Choice, which contains moisturising oils that prevent damage such as rot and mildew on wood surfaces including wood siding, fences and outdoor furniture. The new FloodPro series, includes a penetrating oil finish for exterior wood surfaces such as fences which provides resistance against UV and mildew. Wolman Wood Care Products, Pittburgh, PA has introduced Creocoat Wood Preservative, an environmentally safe substitute for the company’s Creosote coal tar product. Creocoat is a water-repellent and mildew-resistant preservative that protects exterior wood from insect damage. Grafted Coatings, Seymour, CT has introduced KTM finishes, a line of waterborne finishes which can be applied to porous woods.

5.10 New joint-venture in Poland

European Coatings Journal, April 1998

Tikkurila Coatings Oy and Tikkurila Paints Oy, both subsidiaries of the Kemira-owned Tikkurila Oy, have signed an agreement on setting up a joint-venture in Poland. The Polish party is the paint company Baltcolor in Szczecin.

The ownership of the joint venture will be divided as follows: Tikkurila Coatings Oy 30%, Tikkurila Paints Oy 30% and Baltcolor 40%. The parties have agreed not to disclose other conditions of the contract.

The joint venture will be named Tikkurila Baltcolor Sp. z.o.o., and the product range will include industrial and DIY paints. Operations will start before the summer. The joint-venture will have 140 persons on its payroll.

7.5 Wybert now leader in toothpastes.

Handelsblatt Wirtschafts-und Finanzzeitung: Feb 1998

Wyvert GmbH has increased its share of the German toothpaste market from 16.7% in 1996 to 17.2% in 1997 and has become the market leader. Turnover, including exports, rose 15.5% to DM 195 M on an overall market that stagnated.