Issue link: https://www.e-digitaleditions.com/i/941907
Huntsman, Clariant end merger plans THE WOODLANDS, Tex.—Global chemical companies Huntsman Corp. and Clariant, Muttenz, Switzerland, have announced that they will not con- tinue to pursue their $20 billion merger plan, after receiving pressure from ac- tivist investors who expressed concerns about the deal's value for Clariant. Huntsman and Clariant first an- nounced the proposed merger last May, noting that they expected it to close be- fore the end of 2017. Both companies are major suppliers of raw materials for coating formulation. In July, activist investor White Tale began acquiring shares of Clariant, pres- suring the company to look at other op- tions for value creation. The firms said the merger with Huntsman would not create ideal value for Clariant investors. In September, White Tale raised the stakes, increasing its stock in Clariant to more than 15 percent and penning an open letter to the company's board in which it confirmed its opposition to the Huntsman merger. Clariant said at the time that the merger would create more than $3.5 billion in value through cost and tax synergies and complementary product portfolios, and noted that while Huntsman's president and CEO, Peter Huntsman, would be- come CEO of the new company, there would be no ceding of operational con- trol along with the deal. According to reports, White Tale's stake in Clariant is now more than 20 percent. That increased stake, along with other investors expressing con- cerns about the deal, reportedly led the company to be unsure whether a share- holder vote on the deal would result in the two-thirds "yes" votes needed to move forward. OSHA fines increase as planned WASHINGTON, D.C.—Beginning January 2, to account for inflation, the US Department of Labor increased civil penalties for violations of standards and regulations that fall under the Occupa- tional Safety and Health Administra- tion (OSHA) by two percent. OSHA is one of several regulated areas to affect an increase in civil penalties. The DOL indicated in a Federal Regis- ter notice that the agency was increasing 2018 penalties in order to comply with the Federal Civil Penalties Inflation Ad- justment Act Improvements Act of 2015. The act requires that certain de- partment divisions keep monetary civil fines in step with the rate of inflation. Modifications must be made by Janu- ary 15 of every year. The DOL raised OSHA fines by 78 per- cent–the first increase in 26 years at the time of the mandate. This move was part of the Obama-era budget bill of 2016. OSHA penalties now sit at a max- imum of $12,934 for other-than-serious and serious violations. For repeat and willful violations, the fines now top out at $129,336. While the penalty increase applies to federal OSHA states, the agency expects state-operated health and safety organizations will also follow suit with their own penalty structures. Most recent parts2clean show was biggest in its history HANNOVER, Germany—The 15th edition of the parts2clean show for in- dustrial parts and surface cleaning was the biggest in its history, and also ranked among the best in terms of at- tendance. The next edition of the show, parts2clean 2018, will be held October 23-25 in Germany. Held in Stuttgart, Germany, in late Oc- tober, the show featured 253 exhibitors from 16 nations. Its displays filled more than 78,500 square feet of space, mak- ing it the biggest parts2clean ever in terms of booked space. The end-of- show tally shows that it was also a major success in terms of attendance. Over its three-day run, it attracted some 4,900 trade visitors, nearly 20 percent more than the 2015 show. The facts and figures only tell half of the story, the other half being the high level of exhibitor satisfaction generated. Moreover, a very pleasing 87 percent of the visitors were professionals who play a major role in their organizations' pur- chasing decisions. CPI holds conference, distributes award WASHINGTON, D.C.—In October, the American Chemistry Council's Cen- ter for the Polyurethane Industry (CPI) held its 60th Polyurethanes Technical Conference, where more than 1,000 in- dustry experts met to learn and network. Over the 3.5-day conference, there were 14 technical sessions, 18 posters pre- sented, and 73 exhibitors, as well as the Professional Development Program. At the conference, CPI announced that Chemours' Opteon 1100 was the recip- ient of its 2017 Polyurethane Innova- tion Award. Opteon 1100 is a hydroflu- oroolefin blowing agent that CPI says addresses critical polyurethane needs, such as formulation stability and flexi- bility with existing components, excel- lent materials compatibility, excep- tional long-term insulation perfor- mance, and a sustainable solution to meet changing regulatory require- ments. Chemours, Wilmington, Dela., is a global chemical company. CPI pro- motes the growth of the North Ameri- can polyurethane industry. D & K Powder Coating expands MINNEAPOLIS, Minn.—D & K Powder Coating, North Mankato, Minn., is expanding their 25,000- square-foot manufacturing facility by an additional 20,000 square feet. The company is a powder coating service provider. Axalta merger discussions fall through PHILADELPHIA, Pa.—Less than two weeks after a potential deal between Ax- alta Coating Systems and Nippon Paint Holdings Co. Ltd., Osaka, Japan, was first broached, talks ended with no agreement. Nippon's attempt to acquire Axalta was part of a move to expand into sales for automotive manufacturers as well as increase its US footprint. In its talks with Axalta back in Novem- ber, Nippon made an all-cash bid that totaled $9.1 billion. Axalta noted that it would pursue such a transaction only if its Board of Directors determines that it is in the best interest of Axalta to do so. 4 POWDER COATING, February 2018 UPDATE:Industry