Coatings World - April 2017

performance, Lonza delivers extensive service support during product development, troubleshooting, and after sales. In the case of Proxel LS Preservative, it engaged with customers during various stages of product development and ran prototypes that ultimately helped shorten the time to market. In addition to developing biocidal products, the company addresses larger aspects of microbial control through its plant hygiene equipment solutions and analytical systems for test procedures.

With the Proxel LS Preservative, Lonza continues to enhance performance levels and prepare itself and its customers for the future. It has already received an overwhelmingly positive response for its latest foray into the European market while gaining traction Asia, especially China, and more recently in the United States.

“Lonza’s proactive approach to ad-
dressing customer’s future needs through
collaborative product development
makes it one of the most preferred com-
panies in the market,” noted Karthikeyan.
“From ensuring regulation compliance to
delivering unmatched performance for
its diverse customer base, the Proxel LS
Preservative solution has successfully el-
evated Lonza’s brand globally.”
Each year, Frost & Sullivan presents
this award to the company that has de-
veloped a comprehensive product line
that caters to the breadth of the market
it serves. The award recognises the extent
to which the product line meets customer
base demands, the overall impact it has
in terms of customer value as well as in-
creased market share.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

Evonik and Forward
Engineering Establish Joint
Venture VESTARO

Evonik Industries and Forward Engineering have established the joint venture VESTARO GmbH. With this project, the two companies intend to drive forward the implementation of composite solutions for the industrial mass production of fiber composite components for the automotive industry. “VESTARO is an important step in further expanding our partnership with automobile manufacturers. For many years now, we have been developing products to support their developments in lightweight construction,” said Roberto Vila-Keller, head of the Crosslinkers Business Line at Evonik.

The core competencies of VESTARO
are technology consulting and also se-
lection and adaptation of matrix for-
mulations to meet specific customer
requirements for efficient manufactur-
ing. Dr. Leif Ickert, general manager of
VESTARO, explained: “In the joint ven-
ture, we are bundling expertise in engi-
neering and in specialty chemicals. This
means that we can offer even better tai-
lored composite-matrix systems and even
more competent service.”
Evonik is contributing its expertise
in amine hardeners (VESTAMIN) for
epoxy resin formulations and isocya-
nate (VESTANAT) for polyurethane
formulations to the material develop-
ments of the new company. Combined
with the development know-how
of Forward Engineering (previously
the engineering division of Roding
Automobile GmbH) in composite con-
struction, the result is a unique po-
tential for the realization of efficient
lightweight construction solutions.

VESTARO is to be managed jointly by Evonik and Forward Engineering, with Evonik holding 49 percent of the shares and Forward Engineering 51 percent. The managing directors are Dr. Hans Görlitzer of Evonik Resource Efficiency GmbH and Robert Maier of Forward Engineering GmbH. The joint venture is to be based in Munich.

Perstorp Sells its Belgian
Site with its Coating
Additives Activities to
Synthomer plc

The specialty chemicals innovator and supplier Perstorp (Perstorp Holding AB) has announced the sale of its additives activities primarily serving the paints and coatings industry produced at its facility at Gent Belgium, Perstorp Belgium (Perstorp Oxo Belgium AB) to Synthomer (Synthomer plc). The total consideration for the sale is €78 million (subject to certain adjustments). The divestment is in line with Perstorp’s strategy to focus on and expand its core chemicals activities.

Perstorp Belgium manufactures and markets a range of performance additives to a global customer base across a number of end-markets including paints and coatings and plastics. The business employs 41 employees at its Gent facility, who will all be transferred with the business. In the year to 31 December 2016, Perstorp Belgium generated earnings before interest and tax of € 8 million. At 31 December 2016, Perstorp Belgium had gross assets of € 21 million. The transaction represented a multiple of circa 9.0x 2016 EBITDA.

“The sale of Perstorp Belgium creates very good shareholder value and is a natural step in our strategy of focusing on growing our core technology platforms. The transaction provides Perstorp Belgium and its employees with an opportunity to develop further within Synthomer,” says Perstorp President & CEO Jan Secher.

BASF Group Inaugurates
New Innovation Campus
Asia Pacific in Mumbai,
India

BASF Group has inaugurated its new Innovation Campus Asia Pacific, located in Mumbai, India. The project will involve a total expected investment of up to €50 million from BASF Group, and marks the Group’s largest research and development (R&D) investment in South Asia.