Part of the production facility (Photo: ESIM Chemicals)
Expansion in the Old World: US speciality chemicals company
Vertellus (Indianapolis, Indiana; www.vertellus.com) has agreed to buy the intermediates and speciality chemicals division of Austriaâs
ESIM Chemicals (ESIM, Linz; www.esim-chemicals.com). No financial details of the deal were disclosed, and around 150 of the approximately 500 employees at ESIM are said to be affected by the sale. The transaction still requires the approval of oversight authorities.
ESIM Chemicals manufactures agricultural and crop protection chemicals as well as intermediates, maleic acid hydride and its derivatives and sells them worldwide. Vertellus, founded in 1857, produces speciality chemicals for personal care, healthcare, coatings, transportation products, food, and agriculture. The company employs more than 1,000 people at a total of 15 locations in China, India, the UK and the US.
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Belgian plastic sheet and light dome supplier to be bought by local unit of Germany s Igepa
Francis Seynhaeve and daughter Laurence (right) with Igepa Belux CEO Dirk Salens (Photo: Igepa Belux)
Belgian packaging wholesaler
Igepa Belux (Aalter / Belgium; www.igepa.be) is set to acquire compatriot company
Seynhaeve Plastics (Hooglede; www.seynhaeve-plastics.be), a supplier of plastic sheets and light domes from 1 July 2021 for an undisclosed sum.
âWith this acquisition, we are not only strengthening our position on the visual communication market but are also diversifying in the direction of the building and industrial market,â said Igepa Belux CEO
Dirk Salens. The company said it would also gain additional expertise in the plastics sector through the purchase.
Tristan Wegner, expert in customs law (Photo: O&W Rechtsanwälte)
Plasteurope.com: On 12 June, the anti-dumping duties imposed by the EU on monoethylene glycol (MEG) imports from the US and Saudi-Arabia came into force (see Plasteurope.com of 15.06.2021). Will German customs authorities have to charge importers this punitive duty?
Wegner: Yes, customs has no discretionary power. It must levy the anti-dumping duties with every import transaction because it is a case of directly applicable EU law. Companies that purchase goods from the producers listed in the directive and have received lower customs rates must ensure that they comply with all the formalities on this. Otherwise, customs will impose the anti-dumping duties in full.
When will the suitcases start rolling again? Samsonite CEO Kyle Gendreau (Photo: Samsonite)
Even a hastily launched EUR 560m savings programme could not prevent disaster: suitcase manufacturer
Samsonite (Luxembourg City / Luxembourg; www.samsonite.com) suffered a drop in sales of around 57% in 2020. According to CEO
Kyle Gendreau, revenue fell to EUR 1.3 bn, and EBITDA slumped EUR 600m to land EUR 184m in the red.
Gendreau said the collapse of business and private travel due to the pandemic disaster were to blame for the declines. Samsonite was probably surprised that things turned out this badly: in the spring of 2020, the group predicted a sales decrease of âonlyâ 26%.