Empils: growth of water-based products reached 34 percent in 2007

Citation

(2008), "Empils: growth of water-based products reached 34 percent in 2007", Pigment & Resin Technology, Vol. 37 No. 4. https://doi.org/10.1108/prt.2008.12937dab.017

Empils: growth of water-based products reached 34 percent in 2007

Article Type: Industry news From: Pigment & Resin Technology, Volume 37, Issue 4

In the year 2007 Empils’ plants manufactured 76,000 tons of decorative coatings and 14,000 tons of zinc oxide (zinc white). The data do not take account of the semi-finished varnish used in the production of enamel paints. In the year 2006 the output was 75,000 and 13,100 tons, respectively. In 2007 Empils products were sold in Russia, Ukraine, Byelorussia, Moldova, Georgia, Kazakhstan, Uzbekistan, Tajikistan, Kirghizia, Mongolia, Lithuania, Finland, Poland, Italy and Germany. The sales volume of Empils outside Russia was 16 percent in zinc oxide sector and 27 percent in paint and varnish sector. The share of eco-friendly water-based interior and façade coatings in Empils’ portfolio grew from 6 to 8 percent over 2007, and the absolute growth of water-based products reached 34 percent.

Results

Cytec Industries Inc. has announced net earnings for the fourth quarter 2007 of $47.6 million or $0.97 per diluted share on net sales of $901 million. Included in the quarter are several special items that total $0.5 million income after-tax or $0.01 increase per diluted share and are outlined further in this release. Excluding these special items, net earnings were $47.1 million or $0.96 per diluted share. Net earnings for the fourth quarter of 2006 were $83.4 million, or $1.70 per diluted share, on net sales of $794 million. In the Surface Specialties segment selling volumes were down due to the impacts of reduced demand in North America and in Europe, and the decision to exit certain low profit solvent-borne business. In addition, Building Block Chemicals showed significant increase in higher selling volumes and selling prices. For 2008 Cytec expects for the Surface Specialties segment the demand from their coating chemical costumers to be impacted by the economic environment. They forecast that conditions in the USA will be similar to that of 2007 and they project Europe to have modest growth of about 2 percent and continued growth in Asia similar to 2007 levels. The primary growth will be driven by waterborne and environmentally friendly technologies.