way to Victory Lane many times
during the season,” said Wade
Robinson, Axalta Strategic
Marketing and Racing Director.
“We are honored that these Axalta-
sponsored teams have wins in nearly half
of all the points races this year ( 13 of 27).
We could not be more proud. It’s been a
magical year for Axalta Racing.”
Ferro & Milan Collaborate
to Acquire Italian Tile
Coating’s Manufacturer
Vetriceramici
Ferro Corporation has signed a definitive
agreement with Milan, Italy-based Private
Equity Funds’ Management Company
Star Capital SGR S.p.A. and two minority owners and founders Gianfranco
Padovani and Sergio Zannoni to acquire
Casola Valsenio, Italy-based Vetriceramici
S.p.A. for €83 million (approximately
$108 million) in cash. The transaction
will be funded with excess cash and a
draw on the Company’s existing revolving credit facility and is expected to close
by December 1, 2014, subject to customary closing conditions.
Vetriceramici is one of the leading
global suppliers of specialty products
that enhance the appearance and improve the durability of high-end ceramic tile. Its product line includes
high-value, specialty frits and grits
(finely-milled frits), glazes, digital inks,
and other specialized tile coatings.
Additionally, Vetriceramici has developed high-value forehearth color solutions that deliver greater production
flexibility, lower manufacturing costs
and improved inventory management
to customers. The acquisition is expected to improve Ferro’s growth opportunities by enhancing its product
portfolio and improving its position in
important growth markets, including
the United States, Mexico, Turkey and
Eastern Europe.
AkzoNobel and Photanol
Developing Chemical
Compounds Using Sun
Energy
AkzoNobel and cleantech company
Photanol have teamed up to develop a
process for harnessing the power of the
sun to make chemicals.
The two companies will work on cre-
ating sustainable technology which mim-
ics the way plants use photosynthesis.
The aim is to produce “green” chemical
building blocks that will eventually re-
place raw materials AkzoNobel currently
obtains from fossil-based production.
“Given the challenges the world is fac-
ing in terms of resource scarcity, we are
actively looking for bio-based alternatives
for our chemicals and Photanol’s existing
technology is a potential game-changer,”
said Peter Nieuwenhuizen, AkzoNobel’s
director of Innovation and Partnerships.
“We are constantly looking for less
traditional solutions as we strive to do
more with less and this exciting partner-
ship – which has the potential to signifi-
cantly reduce our carbon footprint – is
a perfect example of our Planet Possible
approach to sustainability.”
The collaboration is focused on
Photanol’s existing proprietary technol-
ogy, which uses light to directly convert
CO2 from the air into predetermined raw
materials such as acetic acid and butanol.
The only by-product is oxygen.
Michiel Lensink, Photanol CEO,
added: “The cooperation with
AkzoNobel is of major strategic importance to us. Not only does it give
us access to a large potential market,
but AkzoNobel’s processing technology expertise also means that we will
shorten our time to market.”
The two companies will start
by developing a number of specific
chemicals that are currently used by
AkzoNobel’s Specialty Chemicals
Business Area. The partnership is
intended to be a stepping stone
for potential commercial production of fourth generation bio-based
chemicals.
AkzoNobel’s chemicals are used by the
chemicals, detergent, construction, food,
pulp and paper and plastic industries.
Sika Strengthens Presence
in Southeastern Europe
With a new plant in Serbia and
the foundation of a subsidiary in
Bosnia-Herzegovina, Sika is laying
the foundation for further growth in
Southeastern Europe.
Sika Serbia has relocated its premises from Belgrade city to a larger site
in Simanovci, 20 km north-west of the
capital, and built a mortar plant in addition to its existing concrete admixture
production activities. With the expansion of its operations in Serbia, Sika is
improving its competitive position and
will be able to better serve the needs of
the construction industry with a comprehensive product range. By establishing
a new subsidiary in Sarajevo, Bosnia-Herzegovina, Sika creates its own distribution and production hub to access the
market directly.
Sika Serbia’s goal is to further extend
its business in the construction chemicals market. The company already holds
a leading position in concrete admixtures and aims to become a key player in
mortars. The mortar market is expected
to grow by 9 percent annually. With its
local mortar production, Sika will be
able to reduce production and logistics
costs and thus significantly improve its
competitive position.
“The new mortar plant in Serbia
and the establishment of a new Sika
subsidiary in Bosnia-Herzegovina set
the stage for Sika’s accelerated growth
in the Balkan states,” said Paul Schuler,
Sika regional manager EMEA. “Sika
Serbia will become a production hub
for mortars, and the new subsidiary in
Bosnia-Herzegovina will unlock fur-
ther potential to double our business
in this market over the next three to
four years.”
Serbia, Bosnia-Herzegovina and their
neighboring countries continue to be
promising markets for Sika. The econo-
my in the region is recovering from the
2012 recession and, according to the
World Bank, is expected to grow at 1.9
percent in 2014 and 2.6 percent in 2015.
Serbia’s and Bosnia-Herzegovina’s need
to improve and upgrade their infrastruc-
ture will be a driver for the construction
industry, as will be the pan-European
corridor 10, a highway project connect-
ing Austria, Slovenia, Croatia, Serbia,
Macedonia and Greece.
Sika Serbia for example provides
