Cytec Coating Resins Establishes
New Identity as Allnex
The divestiture of the Coating Resins
business of Cytec Industries to funds affiliated with Advent International was
first announced in October 2012 and
completed on April 3, 2013. The adoption of the new name – Allnex – is the first
step towards establishing the company’s
new identity.
“We are excited about our new name,”
said CEO Frank Aranzana. “We believe
that it reflects who we are, what we stand
for and what we want to achieve.”
The search for a name began with an
employee contest in November 2012 that
generated more than 300 possibilities.
Those names gave inspiration to a global
diversity group, which brainstormed fur-
ther and incorporated advice from a lead-
ing branding agency.
“Because a company name is one of
the most visible aspects of its reputation,
it was very important to take the time to
consider the company’s identity, mission
and future ambitions in the selection process,” noted Aranzana. “As a global coating resins company that offers multiple
products all under one roof, Allnex is
unique in the marketplace. Our aim is to
partner with our customers so that we can
leverage our extensive expertise and myriad of solutions, and together we can create sustainable value across the different
industry segments we serve. Thus, we may
proudly say that we do more than provide
products; we help improve performance.”
The company’s new logo was designed to reflect Allnex’s product portfolio, sustainable innovations, growth
aspirations, and commitment to continuous improvement. Specifically, the
88 | Coatings World
multiple colors and sizes of the droplets
represent Allnex’s technologies, products
and talented employees. In addition, the
green droplet stands for sustainability while the upward movement of the
droplets and text reflects the company’s
commitment to operational excellence,
innovation and growth, both for Allnex
and its customers.
BASF Strengthens
Performance Products
Segment
BASF aims to strengthen the competitiveness of its Performance Products segment.
The segment bundles BASF’s businesses
with chemicals that improve the properties of many different end-user products.
The portfolio includes ingredients for
personal care, cosmetics, pharmaceuticals, plastic additives, pigments and paper
chemicals as well as chemicals used in oil
and gas production and mining. In some
market segments, increasing standardization and the entry of new competitors
have changed the business environment
significantly. This especially applies to
the markets for plastic additives and pigments as well as for water, leather and
textile chemicals.
BASF aims to adapt its businesses to
the changed market environment and significantly increase competitiveness in the
coming years by streamlining processes,
investing in new technologies and adjusting its portfolio and its organizational
setup. The currently planned measures will
lead to a reduction of approximately 500
positions worldwide by the end of 2015.
“The expansion of our specialty business in the Performance Products segment
made us more robust to economic fluctuations,” said Michael Heinz, member of
the Board of Executive Directors of BASF
SE and responsible for the Performance
Products segment. “However, the growth
and profitability of the standard products
do not yet meet our requirements. We have
therefore identified numerous measures,
www.coatingsworld.com
which we are implementing step by step.
Further measures are being analyzed.”
BASF aims to improve the efficiency
and profitability of the plastic additives
and pigments and resins business units
in Europe, which are mainly located in
the Basel area. In the pigments and res-
ins business unit, European product and
quality management and product safety
will be pooled in Ludwigshafen. Global
product management lead will be bun-
dled in Hong Kong. In this way, synergies
can be generated by bundling expertise
and competencies.
In the Plastic Additives business, a
more market-oriented approach will be
introduced. The product-related development and application technology will
sharpen its focus on key topics and customer industries and will be organized
more efficiently through a network of
global competence centers in different locations worldwide. In addition,
supporting functions, such as technology and strategy management as well
as controlling, will be consolidated in
Ludwigshafen.
The restructuring will lead to a reduction of a total of up to 350 positions in
the Basel area by the end of 2015. This
includes the pooling of tasks at other
sites. BASF aims to implement the job
reductions related to the restructuring
measures in the Basel area in a socially
responsible manner. BASF will attempt
to find job opportunities in other BASF
Group companies for as many employees
as possible.
Powdermet Forms
Partnerships to
Commercialize NanoComposite Materials for
Energy Efficiency
Abakan Inc., a manufacturer in the advanced coatings and metal formulations
markets, has announced that its subsidiary Powdermet has secured several partnerships with corporate, government and
