INEOS STYROLUTION AWARDED PLATINUM RATING FOR 2ND YEAR RUNNING

• Position in the top 1% of companies of all assessed companies retained
• Overall sustainability score of 77 is an improvement over last year
• Special recognition given to the company’s advanced sustainability management

INEOS Styrolution has received a platinum rating by EcoVadis for its exemplary corporate social responsibility (CSR) performance. This is the second consecutive year that the company has been awarded the highest distinction, retaining its place in the top 1% of over 75,000 companies assessed by EcoVadis.

EcoVadis evaluates companies across four categories: environment, labour and human rights, ethics and sustainable procurement. INEOS Styrolution’s overall score of 77 out of 100 across these four categories is an improvement over last year’s score of 75.

This increase in score reflects the company’s increased efforts to shift to circular solutions, reduce its carbon footprint, and minimise plastic waste as well as its collaboration across the value chain. The external audit of the company’s CSR programme and reporting conducted this year also contributed to the improvement in score. INEOS Styrolution’s structured and proactive sustainability approach, tangible actions, and transparent sustainability reporting has been especially recognised by EcoVadis.

Steve Harrington, CEO, says: “We are pleased to be awarded with a second platinum rating, which confirms that we are on the right track. EcoVadis raises the bar every year in terms of their requirements and we are delighted to be able to match this pace as we improve the sustainability of our operations and our products year-on-year. This comprehensive assessment and rating will enable our customers to benchmark and track our sustainability efforts and also provides us with direction for our future development efforts”.

INEOS Styrolution has previously received the EcoVadis gold rating in 2018 and 2019, the highest EcoVadis ranking at the time, for its strong responsible business performance in 2017 and 2018, respectively. The company was awarded the platinum rating in 2020, a new ranking introduced by EcoVadis that year.

EcoVadis’ sustainability assessment is based on leading international sustainability standards such as the United Nations Global Compact (UNGC), Global Reporting Initiative (GRI), ISO 26000 and CERES Principles. The EcoVadis assessment process and methodology are supervised by an international scientific committee.

About INEOS Styrolution
INEOS Styrolution is the leading global styrenics supplier, with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 90 years of experience, INEOS Styrolution helps its customers succeed by offering innovative and sustainable best-in-class solutions, designed to give them a competitive edge in their markets, and at the same time, help make the circular economy for styrenics a reality. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, packaging and toys/sports/leisure. In 2020, sales were at 4 billion euros. INEOS Styrolution employs approximately 3,600 people and operates 20 production sites in ten countries.

NORMA Group grows in the third quarter despite adverse market conditions 

• Sales up 8.0 percent in the third quarter to EUR 265.7 million
• Strong growth in water management
• Material shortages, increased raw material prices and higher freight costs weigh on earnings
• Adjusted EBIT margin at 8.6 percent

Maintal, Germany, November 3, 2021 – NORMA Group today presented its figures for the third quarter of 2021. The company achieved sound sales growth despite the fact that the market was shaped by global material shortages, increased raw material prices and higher freight costs. NORMA Group generated Group sales of EUR 265.7 million in the period from July to September 2021 – an increase of 8.0 percent compared to the prior-year period (Q3 2020: EUR 245.9 million). Organically, sales grew by 7.6 percent; positive currency effects contributed 0.4 percent.

“Considering the challenging market conditions, we achieved sound growth in the third quarter,” says CEO Dr. Michael Schneider. “We were impacted by the global shortage of raw materials such as engineering plastics and stainless steel which led to higher material costs. Increasing supply bottlenecks for electronic components also resulted in lower production figures in important industries, particularly in the automotive sector. We are meeting long-term challenges by focusing systematically on high-growth markets of the future: water management, general industry applications and electromobility. Continued strong business with water management solutions in the third quarter demonstrates that we are on the right path with this positioning.”

Growth in Europe and America, slight decrease in Asia

In the EMEA region (Europe, Middle East and Africa), sales increased by 4.3 percent to EUR 107.2 million in the third quarter of 2021 (Q2 2020: EUR 102.9 million). The production bottleneck in the automotive industry arising from worsening material shortages reduced demand in the third quarter for joining products for vehicles. There was, however, strong growth momentum from business with standardized joining technology for general industry applications through distributors.

Sales in the Americas region amounted to EUR 117.2 million – an increase of 15.6 percent over the prior-year period (Q3 2020: EUR 101.3 million). The standardized joining technology business in particular performed very well across the board. Sales growth in the automotive components business, on the other hand, flattened out over the course of the quarter due to declining vehicle production figures. The US business with water management applications for stormwater management and irrigation again showed strong organic growth of 15.4 percent. There was no pandemic-related slump in this business in the prior-year quarter. The increase cannot therefore be explained by a lower basis for comparison, rather it is an expression of NORMA Group’s continued strong performance in this area.

In the Asia-Pacific region, third-quarter sales fell slightly by 1.1 percent to EUR 41.3 million (Q3 2020: EUR 41.7 million). This was mainly due to lower sales in the automotive business. Business with standardized joining technology, on the other hand, showed stable development. Overall, sales development in Asia in the third quarter of 2021 is based on a relatively high comparative basis. In 2020, the economy had already recovered significantly from the second quarter, particularly in China.

Increased material prices and higher logistics costs impact earnings and margin

Adjusted earnings before interest and taxes (adjusted EBIT) was EUR 22.8 million in the third quarter, down from the prior-year quarter (Q3 2020: EUR 26.3 million). The adjusted EBIT margin was 8.6 percent, also below the prior-year level (Q3 2020: 10.7 percent). The decline was primarily attributable to worldwide raw material shortages coupled with strong demand. Sharp increases in prices for engineering plastics, stainless steel and alloy surcharges in particular weighed on earnings and margins in the quarter that just ended. Earnings and margins were also impacted by higher costs for logistics services for import and export and increased costs for temporary workers and leased staff in Europe and America. Net operating cash flow of EUR 31.2 million in the third quarter of 2021 was lower than in the previous year (Q3 2020: EUR 40.6 million).

Nine-month result well above prior-year level

In the period from January to September 2021, Group sales were EUR 833.8 million, a significant increase of 20.7 percent over the pandemic-affected period of the previous year (Q1-Q3 2020: EUR 691.0 million). Organically, sales grew by 24.0 percent. Adjusted earnings before interest and taxes (EBIT) totaled EUR 95.8 million in the first nine months of the current fiscal year. This represents a significant increase compared to the nine-month result of the previous year (Q1-Q3 2020: EUR 26.7 million). The increase is primarily attributable to the speed and strength of the business recovery following the pandemic-related slump in the first half of 2020. The adjusted EBIT margin was 11.5 percent in the first nine months of 2021, a significant improvement on the prior-year period (Q1-Q3 2020: 3.9 percent).

Net operating cash flow was EUR 70.5 million in the first nine months of the current year and thus also significantly higher than in the same period of the previous year (Q1-Q3 2020: EUR 49.2 million). The increase is attributable to improved earnings in the period from January to September 2021. Higher capital expenditures compared to the previous year and a significant build-up of inventories, on the other hand, had a negative impact on cash flow.

Outlook for full-year 2021

Given the ongoing limited availability of materials and the associated price increases, the Management Board of NORMA Group already reassessed and adjusted its margin forecast for fiscal year 2021 on September 14, 2021. Accordingly, the Management Board expects an adjusted EBIT margin for fiscal year 2021 of more than 10 percent (previous forecast: “more than 12 percent”) and an adjusted EBITA margin of more than 11 percent (previous forecast: “more than 13 percent”). With regard to the development of organic Group sales and other key figures for the Group, the Management Board reaffirms its forecast published in March 2021.

GAIA GROW’S CANNA STREAM SOLUTIONS COMPLETES PHASE 1 OF DEVELOPMENT OF NOVEL BIO-COMPOSITE USING ENAGON’S PROPRIETARY MILLED INDUSTRIAL HEMP

Gaia Grow Corp.  is pleased to announce that its wholly-owned subsidiary, Edmonton-based Canna Stream Solutions Ltd. (“CSS”), in collaboration with Enagon Inc. (“Enagon”), has completed phase 1 of the development of novel bio-composites using Enagon’s proprietary processed hemp biomass (both bast and hurd). The project was conducted at InnoTech Alberta’s Bio-Industrial Services facilities and is critical for CSS’ research & development efforts in creating added value from cannabis and industrial hemp.

Both Canna Stream and Enagon will continue to further develop the creation of a truly renewable and biodegradable bio-composite.

Interest in industrial applications of bio-composites is growing rapidly for applications such as automobiles, aerospace, construction, military applications, packaging, railway coach, and fundamental research. The benefits of bio-composites, including being renewable, cheap, recyclable, and possibly biodegradable fuels increased market interest. In addition, environmental concerns and the cost of synthetic fibres stimulate the use of natural fibre as reinforcement in polymeric composites. Biofibres are the principal components of bio-composites, which are derived from biological origins, for example fibres from crops such as cotton, flax or hemp, recycled wood, wastepaper, crop processing by-products or regenerated cellulose fibre. Advocates of bio-composites state that use of these materials improve health and safety in their production, are lighter in weight and are environmentally superior to traditional sources. This is consistent with the results of this project. The color of bioproducts changes with the biocomponents and their concentrations in the formulations. This could potentially be used for designing bioproduct parts with various colors. This development would create added value from cannabis and industrial hemp as well as a future opportunity for CSS to enter into new markets and grow their business.

 www.gaiagrow.com

Vision Composite Products Selects IDI’s Ultrium™ Carbon Fiber Composites For Their High Performance Carbon Fiber Forged Wheels

In the world of high-performance automotive wheels, lightweight and strong, yet aesthetic and unique designs are the future. Vision Composite Products, the leading developer and manufacturer of off-road, racing, and after-market automotive wheels, has selected IDI Composites International’s Ultrium™ U660 for their innovative Carbon Fiber Forged wheels.

Seeking a better material solution than the typical cast and forged aluminum alloy used for performance wheels, Vision launched research into composite wheels and ultimately partnered with IDI Composites International and the 3i Technology Center, to develop their Carbon Fiber Forged wheels using Ultrium™ carbon fiber composites. The resulting solution enables high volume production at costs competitive with forged aluminum wheels. The approach combines IDI Composites International’s discontinuous Ultrium™ U660 Carbon Fiber Composite and A&P Technology’s continuous Netshape® preforms in a carbon fiber forged molding process.

“Ultrium™ is the ideal material for Vision’s new Carbon Fiber Forged wheels,” states Kevin Cahill, Director of Composite Technology for IDI Composites. “Ultrium™ is extremely lightweight and durable, with a beautiful appearance that has the ability to withstand extreme loads experienced on high performance vehicles. This material ensures that these wheels will not only perform well, but the moldability of thermoset composites allows for cost optimized and innovative design options.”

The Carbon Fiber Forged wheels were tested through a grueling, continuous 48-hour, 1,415-mile road test in a 5.0 Coyote Mustang at speeds up to 100 mph. The test ended due to a broken rear half shaft axle while the Vision Carbon Fiber Forged wheels performed perfectly with no damage. The wheels have up to 40% less weight than cast aluminum, and exceeded all regulatory and industry requirements.

“Our 3i Composites Technology Center is truly an asset that helps make projects like these possible.” says Tom Flood, Vice President and General Manager of IDI Composites International. “The 3i Technology Center’s testing capabilities and dedicated team of composite chemists and engineers allows IDI to drive innovation and push the performance boundaries of composites beyond the value limitations of conventional materials.”

The resulting Carbon Fiber Forged wheels are a testament to the commitment of IDI Composites International and Vision Composite Products to advance use of composite materials in new and exciting applications.

Covestro at the China International Import Expo (CIIE) in Shanghai

Pioneering work for the circular economy and a climate-neutral future

Covestro is experiencing a premiere this year: the company will be represented for the first time at the China International Import Expo (CIIE), an important national import fair for China in Shanghai. Under the motto “Pioneering a Circular Economy for a Climate-Neutral Future,” the materials manufacturer will present innovative solutions and technologies related to the circular economy – including the use of alternative raw materials such as carbon dioxide and partially bio-based raw materials that replace fossil resources, as well as a novel, groundbreaking process for the chemical recycling of polyurethane mattress foam – from November 5 to 10, 2021.

“With our broad portfolio focused on the circular economy in various industries, we are strategically well positioned to support China’s sustainable development, particularly the country’s ambitions to become carbon neutral,” said Dr. Markus Steilemann, Covestro’s CEO. “Our vision to become fully circular is in line with China’s megatrends, as we recognize that China will play a key role in the transition to a circular economy.”

Asia debut of mass-balanced MDI and polycarbonate

A key focus of Covestro’s presence at CIIE is the use of alternative raw materials. This includes the Asian debut of two ISCC PLUS-certified mass-balanced products with a lower carbon footprint: these are MDI – a key raw material for polyurethanes (PU) – and the high-performance plastic polycarbonate, with imported raw materials. Both contain a significant proportion of alternative raw materials, including plant waste, residual fats and vegetable oils, which partially replace fossil resources. And both are used in a wide range of applications: polyurethanes in insulation, upholstered furniture and automotive manufacturing; polycarbonates in the electronics, automotive and healthcare industries. Covestro’s mass-balanced products help make these end-use applications more sustainable, supporting the circular economy and, in some cases, climate neutrality.

Portfolio with diverse applications to enable circular economy

At CIIE, Covestro will be presenting even more technologies, products and solutions to this end. Here are a few examples:

• The company has developed a new technology for recycling flexible foam from polyurethane mattresses that enables the recovery of both key raw materials. This allows the carbon footprint to be reduced along the entire value chain for PU mattresses.
• Covestro is exhibiting its Triturn® CO₂ technology, which enables carbon dioxide to be reused as a valuable alternative raw material in polyol production, replacing up to 20 percent of fossil feedstock. It can be leveraged for many different types of applications and industries, such as flexible foam for mattresses and binders for sports flooring, as an answer to address consumer demands and the rising environmental awareness.
• In Electronics & Electrical, exhibits ranging from 5G infrastructure to smart devices show how Covestro’s low carbon footprint material solutions can enable a new era of smart connectivity. The company’s portfolio includes polycarbonates with high post-consumer recycled content and with mass-balanced renewable raw materials that can reduce carbon footprints by up to 80 percent.
• Renewable energy highlights include polyurethane resins that enable lighter wind rotor blades and improve the efficiency of their production, and various other material solutions for effective expansion of this renewable energy.
• In the green building sector, Covestro brings its polyurethane solutions for energy-saving pultrusion windows and as insulating foams for buildings, as well as partially bio-based polyurethane coatings for wood furniture.

To learn more about Covestro’s solutions for a carbon-neutral future at CIIE, visit Covestro’s booth, number 3B5-005, at the National Exhibition and Convention Center (Shanghai) from November 5-10, 2021.

Comexi Inaugurates Its New Technology Center, a European Research and Development Benchmark for the Flexible Packaging

Located in Girona, Comexi CTec will offer maximum simplicity through training, industrial demonstrations, R&D, and custom designed solutions

Comexi has invested 11 million euros in the new CTec. The company already has a technology center facility in Montenegro (Brazil), and in 2022, a new CTec will be unveiled in Miami (USA)

Girona, November 4, 2021.- Comexi, a global benchmark company of and specialist in the flexible packaging printing and converting industry, has inaugurated its Technology Center in Girona (CTec Girona). As a result of this inauguration, the company strives to provide better services, thus clearly demonstrating its commitment to worldwide proximity, innovation, and sustainability.

The company, with a presence in more than 100 countries, not only has its own production plants in Girona and Brazil, but also has commercial offices in the United States and Russia. Comexi has inaugurated the new CTec Girona within the parameters of sustainability and energy consumption, which have made Comexi distinguishable for a long period of time.

The new Manel Xifra Boada Technology Center, CTec Girona, is integrated into the company’s production center. It has a multipurpose space of 2,500 square meters for not only innovation and development of R&D projects, but also for training, consulting, demonstrations, and an industrial laboratory. CTec Girona will have 9 state-of-the-art machines for the flexible packaging sector. In collaboration with leading sector companies, such as ESKO, DuPont and Asahi, for offset plate engraving, the facility will have a pioneering prepress area. Globally, the
new center will be a benchmark, not only due to its vastness and versatility, but as a result of reflecting corporate sustainability and the industry 4.0 project, which is a primary objective of Comexi.

This inauguration concludes the first phase of development. Within the next two years, CTec Girona will be complemented with new extensions, thus making it a global packaging sector reference point, at a functional level and for research and development.

In June of 2010, Comexi CTec began activities in Girona with an advanced flexo course for customers in the Middle East. The technology center was established with the same objective as that of present day: to impart knowledge to Comexi clients. From inception, Comexi CTec provided a variety of technology advice, as well as personalized training. Furthermore, the center has incorporated customer support for industrial tests, R&D, and innovation.

The new Comexi Technology Center features the most advanced tools regarding the digitization of processes and job workflows for printing and converting. One of these tools is Comexi Cloud, a digital service platform which assists customers with the improvement of their factory performance through the analysis of real-time production data. Consequently, this allows them to build and develop smarter factories. Comexi Cloud, the most comprehensive online platform on the market to visualize, compile, analyze, and store data, has reinvented the manner in which printers and converters manage processes.

The CTec Girona team not only manage the execution of various services offered, but develop these new spaces as well.

“Our CTec in Girona is the natural response to longtime latent needs of the market, as well as an example of the importance of innovation in our sector. As a result of the renovated technology centers, we offer our clients the best customized solutions for their businesses, thus responding to the trust they have in us”, stresses Manel Xifra, the president of Comexi.