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alpha-Terpineol, 95%

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alpha-Pinene, 95%

by Foreverest Resources Ltd.


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BASF to cut 6,000 jobs as part of major reorganization !!
BASF says it will cut 6,000 jobs, almost 5% of its workforce, by the end of 2021, as part of previou...sly announced plans to reshape its organization by simplifying structures and processes. BASF says it will streamline its administration and sharpen the roles of services and regions. The plans should result in savings of €300 million ($342 million), generating an additional €2 billion/year of earnings from the end of 2021, the company says. The planned job reductions will result from organizational simplification and from efficiency gains in administration and services, as well as in BASF's operating divisions, BASF says. In addition, central structures are being streamlined in the context of planned portfolio changes. BASF has not specified in which regions or businesses the jobs will be lost Customers to experience a "new BASF" "We will set up the new organization with a clear focus on leveraging synergies, reducing interfaces, and enabling flexiblity and creativity," says BASF chairman Martin Brudermüller. "We want our customers to experience a new BASF. To achieve this, we have to live a new BASF. We will therefore continue to develop our organization to work more effectively and efficiently." Customer-focused operating divisions, service units, and regions, as well as a lean corporate center, are the cornerstones of the new organization. The corporate center will consist of less than 1,000 employees and support BASF's board in steering the whole company. This includes central responsibilities in areas such as strategy, finance, legal, human resources, and communications. About 29,000 employees will be working in cross-functional service units, under the new structure. These include a newly established unit, Global Business Services, which will form a worldwide network of about 8,000 employees providing end-to-end services. They will support the business units with services including from the areas of finance, human resources, communications, and supply chain. Marc Ehrhardt, currently head of the finance division, will lead the Global Business Services unit. Other service units include Global Engineering Services and Global Digital Services, which in future will offer their services for individual sites or worldwide for business units. Meanwhile, the Global Procurement unit will make purchasing more effective, BASF says. The first of the planned changes will take effect on 1 January 2020. BASF, meanwhile, says it has agreed with employee representatives at the company's Ludwigshafen, Germany, complex to open negotiations early on a new site agreement. The current site agreement is valid until the end of December 2020. The goal is to sign a new agreement in the first half of 2020
AXALTA for sale....the group Initiates Review Of Strategic Alternatives
PHILADELPHIA, June 19, 2019 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE: AXTA), a leading supplier of liquid and powder coatings, today announced that its Board of Directors has initiated a comprehensive review of strategic alternatives to maximize shareholder value. The Board has formed a Strategic Review Committee, which will be chaired by the Independent Presiding Director of Axalta's Board, Mark Garrett, and will also include Axalta Chief Executive Officer Robert Bryant and Axalta Independent Director Samuel Smolik. "Axalta's Board is committed to maximizing value for all shareholders and has initiated a comprehensive review of strategic alternatives, including a potential sale of the Company, changes in capital allocation, and ongoing execution of our strategic plan," said Mr. Garrett. "Axalta's management team and Board have a strong track record of pursuing M&A opportunities, along with other initiatives and alternatives, to maximize shareholder value." "Axalta continues to execute on its long-term strategy, delivering significant cost savings to bolster our industry-leading margins, re-deploying free cash flow to drive accretive organic and inorganic growth initiatives, and returning more than $380 million to shareholders over the last two years," added Mr. Bryant. "Given Axalta's progress in recent years and its leading position as a global coatings company – with 90% of 2018 sales derived from end markets where we have either the #1 or #2 global position – we believe that now is the right time to review a full range of options in an effort to maximize value for all shareholders." No assurances can be given regarding the outcome or timing of the review process. Axalta does not intend to make any further public comment regarding the review until it has been completed or the Company determines that disclosure is required or beneficial. The Board has engaged Evercore and Barclays as financial advisors and Morrison & Foerster LLP as legal advisor to assist in its review. About Axalta ...(continue reading on link below)
ICIS News: Widespread plastics recycling challenges mean targets will be difficult to achieve
The real pinch point for plastics recycling is the availability of plastic waste of the right qualit...y in the right place at the right price. Widely different collection systems are the greatest barrier to change on a national basis in some countries as well as internationally. It is surprising, perhaps, to hear that polyethylene terephthalate (PET) recycling rates in China are very high compared to those in more developed economies. That, however, is down to manual sorting and the ready availability of relatively clean PET waste. The same is certainly not the case in western Europe, where one might expect there to be the capacity to push PET recycling rates higher. Collection differences and difficulties mean that there is considerable amount of idle production capacity that can use waste polymer. One of the reasons for this is the contamination of waste stream. It is often the case that the more enthusiastic concerned citizens are to recycle, the more mixed waste enters the recycling stream. Bales of waste plastics are contaminated and their value reduced, making effective recycling even more difficult. In the UK, for instance, because of the widespread sale of milk in polyethylene bottles, the bottles themselves are a good source of materials for recycling back to food-grade polymer. Contamination from other plastics, such as polypropylene (PP) – which is used to make screw tops for the milk bottles – makes the waste plastic bale and the polymer from the recycling process less valuable. In many cases, a change in packaging design will be necessary to promote more effective recycling and is simply the first step towards a circular plastics economy. This is where the major food and beverage producers and retailers come in. It is extremely difficult today to see the wood from the trees – to have a clear vision of what packaging for sometimes well-known consumer products will look like in a few years’ time. SUPPLY CHAIN CHALLENGES Contributions from players along the entire supply chain will be needed if the recycling targets being set now by national governments and the EU are to be anywhere near met. The ICIS recycled PET (R-PET) report, and a recycled PE report, which were launched in May, highlight the challenges in the supply chain and how weak pricing weighs down so heavily on these increasingly important markets. The challenges for the world’s polymer producers are widespread. For some, inter-material competition will have a severe impact on virgin polymer sales. Might these companies be expected to become much more closely involved with the practicalities of recycling as well as technical solutions to the recycling problem? That would mean research and development investment, possibly alongside investment in the supply chain in attempts to avoid severe margin corrosion. For the more easily recyclable plastics, it will be a question of ...(CONTINUE READING SOURCE ARTICLE ON ICIS,see link below)
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