Volume growth has been
more on decorative business: HM Bharuka of Kansai Nerolac
MD, Kansai Nerolac spoke about company's plan in the second quarter and also
about the growth in volume.
ET Now: It has been a great quarter for you let us first talk about
the top line what is the kind of volume growth that you have seen this
quarter if you could highlight that for us?
HM Bharuka: The first quarter yes growth has been good, the volume
growth has been about 14% for us more in decorative and less on the
industrial side so overall it has been a good quarter with good growth yes.
ET Now: What is the split between decorative and industrial in terms
of the volumes?
HM Bharuka: We have about 52% of our sale coming from decorative and
rest on the industrial and industrial comprises of two sector auto as well
as the general industrial and auto growth. It has been reasonably okay but
general industrial growth which is infrastructure related <more>..
Kansai Nerolac to revamp Mumbai's
Kansai Nerolac Paints Limited has adopted one of Mumbai's busiest central
railway stations, Dadar for a refurbishing programme. Dadar sees a daily
traffic of around 125,000 people. Suresh Prabhu, Rail Minister inaugurated
the process of refurbishing this landmark station in the presence of HM
Bharuka, Managing Director, Kansai Nerolac Paints Ltd and AK Shrivastava, GM
Central Railway, at a ceremony held recently. The adoption of stations is a
new concept initiated by Railway Minister Suresh Prabhu. To make the 'Swachh
Rail' dream a reality, prominent social organisations and NGOs were
contacted by Central and Western Railways. Inspired by Prime Minister
Narendra Modi's Swachh Bharat movement, the Indian Railways launched the 'Swachh
Rail Swachh Bharat Abhiyan'.<more>
AMHERST - The Nordson Corp.
building had to be evacuated Monday after a security officer called police
because he thought he found a stick of dynamite.
Turns out, it was a clock that looked something like Wile E. Coyote might
leave behind for the Roadrunner, said Lt. Dan Makruski.
Police arrived to the building at 300 Nordson Drive at 7:49 p.m. Monday,
confirmed it was empty and created a safety perimeter around the building
while waiting for the Fire Department to arrive.
A security officer spotted the clock on a desk in the human resources wing
during patrol rounds of the building. Police told the security officer to
evacuate the building.
Police examined the suspicious item and determined it to be fake dynamite
and allowed the security and cleaning staff back inside.<more>
Berger Paints transfers car
paint division to BNB Coatings
Hoping to penetrate the segment where it has a "negligible presence",
city-based Berger Paints India Ltd. has transferred its paint division
relating to passenger cars and three-wheelers to BNB Coatings India, company
CEO Abhijit Roy said on Wednesday.
"We have entered into a non-binding understanding for transfer of our paint
division related to four-wheeler passenger cars and SUV, three wheelers and
related ancillaries to BNB Coatings India," said Roy at the company's 92nd
annual general meeting here.
BNB is a joint venture where Japan's Nippon Paint Automotive Coatings holds
51 per cent while Berger has 49 per cent of the paid up capital.
"In most of the categories, be it decorative or protective, we are either
number one or two. But in automotive segment we have been an insignificant
player, in the car segment we have a negligible presence. This has largely
been because of technology and approval issues," <more>
Berger Paints net profit jumps
in first quarter
Kolkata, Aug 3 (IANS) Berger Paints India Ltd. posted a consolidated net
profit of Rs 120.30 crore for the first quarter of the current fiscal,
registering a jump of 54.6 per cent over the corresponding year-ago period,
the company said on Wednesday.
"Income from operations for the quarter ended in June this year was Rs
1,246.10 crore against Rs 1,126.30 crore last year, an increase of 10.6 per
cent," it said at its 92nd annual general meeting.
"Net profit for the quarter ended was Rs 120.30 crore against Rs 77.80 crore
last year, representing an increase of 54.60 per cent," company chairman K.S.
The company's standalone profits stood at Rs 114.20 crore against Rs 83.30
crore in the corresponding quarter, registering an increase of 37 per cent.<more>
Asian Paints to enhance
manufacturing capacity Asian Paints would expand the manufacturing capacity
of its two units based at Sriperumbudur in Tamil Nadu and Ankaleshwar in
"The company is proposing to increase its water-based paint manufacturing
capacity at its plant situated at Sriperumbudur, Tamil Nadu from 1,40,000 KL
per annum to 2,00,000 KL per annum," Asian Paints informed BSE today.
Besides, the company is also proposing to alter product mix to augment the
manufacturing capacity of synthetic resins and emulsions at its
manufacturing facilities at Ankaleshwar, Gujarat by 35,000 MT.<more>
Asian Paints Q1 results:
Stellar quarter, but priced in
Asian Paints faces
risks of investments in new initiatives because of a sharp increase in
prices of raw materials
For the third consecutive quarter, Asian Paints Ltd's volume grew in double
digits, buoyed by the performance of the decorative paints segment. This is
impressive, given the subdued consumer demand environment.
Consolidated revenue rose 9% on a year-on-year basis to Rs.3,590.16 crore
and net profit increased by 18.5% year-on-year to Rs.552.56 crore. Ebitda
(earnings before interest, taxes, depreciation and amortization) margins
improved 220 basis points to 21.5%, courtesy benign raw material prices, but
higher advertisement and employee costs restricted further improvement in
operating margins. Revenue from the paint and industrial segments grew
10.03% and 23.68% year-on-year, respectively. A basis point is 0.01%.
It has been a stellar quarter for India's largest paint maker and that is
reflected in its valuations and share price movement. Asian Paints is
trading at a price-to-earnings ratio of 51.33, higher than peers Berger
Paints India Ltd and Kansai Nerolac Paints Ltd. The stock has run-up nearly
30% on a year-to-date basis. But the key questions are- is such a premium
valuation warranted? Is there more upside left?<more>
Nobel India is drawing an investment plan for the future, which could be
placed before its board soon.
"We do have expansion plans but I cannot share it before I place it before
the board," said Jayakumar Krishnaswamy, managing director of Akzo Nobel
The coating company has been consolidating for the last five years and has
invested Rs 470 crore during the period.<more>
Akzo Nobel India Q1 PAT up 38%
at Rs 64.3 cr
Paints and coatings firm Akzo Nobel India today reported 37.39 per cent
increase in profit after tax at Rs 64.3 crore for the first quarter ended
The company had posted profit after tax of Rs 46.8 crore in the
corresponding quarter of the previous year.
Net sales during the period under review stood at Rs 691.1 crore as compared
to Rs 633 crore of the year-ago quarter, a growth of 9.17 per cent, Akzo
Nobel India said in a statement. <more>
Sale of metal-coated manjha
banned in Delhi
In the wake of tragic deaths of two kids and a 22-year-old man on
Independence Day due to 'manjha,' Delhi Police on Thursday issued
prohibitory orders banning storage, sale and use of 'metal-coated' thread
all over the national capital.
According to police keeping in view the unfortunate incidents causing danger
to human life by using metallic coated manjha, the LG desired that suitable
measures should be taken to prevent danger to human life. <more>
Deep red, silvery hues among
BASF's top auto paint colors
Raingarden, Primordial Soup, Aerialist Wish -- these names sound like
figments of the fevered imagination of a science fiction novelist.
But they are the names of automotive paint colors developed by BASF, the
automotive paint and chemicals company, as part of BASF's North American
collection of colors for the 2020 model year.
They're the top three predictions in the company's 2016-17 color study,
which predicts what colors will be popular in three to five years.<more>
BASF opens first manufacturing
plant in Sri Lanka
New plant, which will meet local demand for construction chemicals, will
produce concrete admixtures from global Master Builders Solutions brand
German chemicals major BASF has opened its first manufacturing plant in Sri
Lanka to meet the growing demand for construction chemicals. The plant,
located at Sapugaskande (just outside Colombo), will produce standard and
custom-made performance-based construction chemicals under the Master
Builders Solutions brand. These include concrete admixtures product ranges
such as MasterGlenium, MasterPolyheed, MasterRheobuild and MasterPozzolith.
The new plant will allow BASF to better meet the increasing demand for
construction chemicals to customers in Sri Lanka. The site is supported by
an office, warehouse and a well-equipped testing lab that will deliver
tailor-made recipes through formulation excellence.
Axalta Coating Systems Completes Acquisition of Coil and Spray Coatings
Manufacturer Dura Coat Products
Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and
powder coatings, has completed its acquisition of a majority stake in Dura
Coat Products, a leading manufacturer of coatings for metal coil and
aluminum extrusion markets in North America. Financial terms of the
transaction were not disclosed. Dr. Myung Ki Hong will remain Chairman and
Chief Executive Officer of Dura Coat to ensure a smooth transition of the
Founded in 1986, Dura Coat has developed a leadership position in the market
via its singular focus on overcoming customer challenges through innovation.
Well-known Dura Coat brands include Durapon, Ceranamel and the XT series of
specialty coatings. Dura Coat's innovative product lines have been
formulated to suit a variety of building construction needs, general
industrial applications, and treatment of aluminum extrusions.<more>
Industry Groups Knock Proposal
to Classify Titanium Dioxide as Carcinogen
European chemical industry groups decried the proposed classification of the
common pigment titanium dioxide as a carcinogen.
French environmental officials last year sought to categorize the whitening
agent --used in certain foods, personal care products and a variety of other
applications -- as a 1B carcinogen, which would restrict its use in consumer
products throughout the European Union.
Titanium dioxide is already classified by the International Agency for
Research on Cancer as a possible human carcinogen, and the French agency's
filing with the European Chemicals Agency cited studies showing that rats
developed lung tumors after inhaling the substance.<more>
Tronox Announces TiO2 Price
STAMFORD, Conn., Aug. 24,
2016 /PRNewswire/ -- Tronox Limited (NYSE: TROX) announced today on behalf
of its subsidiary companies price increases for all Tronox titanium dioxide
(TiO2) grades of: US$0.07 per pound in North America, effective September 1,
2016, or as contracts allow; Euro 150 per metric ton in European, Middle
Eastern, and African markets, effective October 1, 2016, or as contracts
allow; and, US$150 per metric ton in Asia Pacific and Latin American
markets, effective October 1, 2016, or as contracts allow. <more>
Nasiol Nano Coating Products
Have Protected One Million Vehicles Worldwide
STANBUL, TURKEY 01 Aug, 2016 Artekya Corporation based in Istanbul,
Turkey that specializes in Nano Technology announces their line of
Automotive Interior, and Exterior Protective Coatings and Detailing Products
got used to safeguard and preserve over one million vehicles worldwide.
'We are excited that so many distributors and consumers have chosen our line
of Automotive Nano Technology to protect the investment people have made in
their cars,' says Selcuk Unal, CEO. 'Artekya has spent a significant amount
of time developing our Nasiol Product Line to address some of the biggest
issues with owning a car - preventing exterior rust spots and protecting the
interior from damage caused by spilling beverages or accidentally leaving
car windows open during a storm'
Artekya offers a broad range of Nano-Coatings for Automobile Surface
Protection, Marine Surface Protection, Home Surface Protection, and Personal
Surface Protection. By applying the recommended product for the application
at hand, it makes the surface waterproof.<more>
Fire damage reported at Huron
HURON - The Huron Fire Department says a Monday morning fire at the Akzo-Nobel
plant at 300 Sprowl Road caused damage to the plant's equipment.
Fire crews asked for mutual aid but then cancelled the request after they
were able to quickly knock out the fire, said Capt. Mike Hohler of the Huron
"We received a fire alarm activation at 0918 hours. While en route we
received a report of an actual fire in the boiler house, which houses a
thermal oxidizer used in their manufacturing process. The responding crew
could see smoke as they approached prompting the call for mutual aid
companies based on the hazards present at this facility," Hohler wrote in an
email to the Register.<more>
Uncertainty in Midland ahead of
Midland Up to
three-quarters of the weekday lunch crowd at the restaurant Maria Batsios
owns with- her husband, Bill, are Dow Chemical Co. employees.
She's not sure how that might change if the multibillion-dollar merger
between Midland-based Dow and Delaware-based DuPont Co. is approved by
'We exist because of Dow,' said Batsios, who for 14 years has operated Cafe
American Restaurant & Coffee Bar in a strip mall less than a mile from Dow's
world headquarters. 'If Dow lays people off, of course it's not good for us.
All we can do is stay on top of business.' <more>
Power of Pink Provides NASA
with Pressure Pictures
They say you show your true colors when you're under pressure.
Turns out the old saying works for models being tested in wind tunnels as
well, specifically those coated with a unique Pressure-Sensitive Paint (PSP)
that NASA engineers have used for more than 25 years.
Today the bright pink paint is helping NASA's aeronautical innovators test
new aircraft designs that could cut fuel use in half, pollution by some 75
percent and noise to nearly one-eighth of what it is today.<more>