MIRA INFORM REPORT
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Report Date : |
06.09.2011 |
IDENTIFICATION DETAILS
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Name : |
GALATA CHEMICALS GMBH |
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Registered Office : |
Chemiestrasse 22, Lampertheim, 68623 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
25.11.1997 |
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Com. Reg. No.: |
61629 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Manufacturer of Chemical |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Germany |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Galata Chemicals GmbH
Chemiestrasse 22
Lampertheim, 68623
Germany
Tel: +49 (0) 6206 9570
Fax: +49 (0) 6206 957109
Synthesis
Employees: 150
Company Type: Private Subsidiary
Corporate Family: 63
Companies
Ultimate Parent: Chemtura
Corporation
Incorporation Date:
25-Nov-1997
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 100.7
Total Assets: 85.8
Business Description
Galata Chemicals
GmbH is primarily engaged in manufacture of various chemical products:
peptones, peptone derivatives, other protein substances and their derivatives
not elsewhere classified; chemically modified oils and fats; materials used in
the finishing of textiles and leather; powders and pastes used in soldering,
brazing or welding; substances used to pickle metal; prepared additives for
cements; activated carbon, lubricating oil additives, prepared rubber
accelerators, catalysts and other chemical products for industrial use;
anti-knock preparations, anti-freeze preparations, liquids for hydraulic
transmission; and composite diagnostic or laboratory reagents. This class also
includes: manufacture of writing and drawing ink.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1899 - Other Basic
Chemical Product Manufacturing Not Elsewhere Classified
NACE 2002: 2466 - Manufacture
of other chemical products not elsewhere classified
NAICS 2002: 325998 - All Other
Miscellaneous Chemical Product and Preparation Manufacturing
UK SIC 2003: 2466 - Manufacture
of other chemical products not elsewhere classified
US SIC 1987: 2899 - Chemicals
and Chemical Preparations, Not Elsewhere Classified
Key Executives
Name Title
Luc De Temmerman President
and Chief Executive Officer
Ralf-Jürgen Becker Managing
director
News
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Title |
Date |
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Galata Chemicals
Announces Increase in Mixed Metal and Epoxidized Soybean Oil Heat Stabilizers |
15-Jun-2011 |
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Luc De Temmerman
Named CEO of Galata Chemicals |
1-Jun-2011 |
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Luc De
Temmerman Named CEO of Galata Chemicals |
20-May-2011 |
|
Galata
Chemicals and Trulabs Introduce Soypex to Candle Market |
16-Mar-2011 |
|
Galata
Chemicals introduces renewable vegetable-based candle wax component |
14-Mar-2011 |
Registered No.(DEU): 61629
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
Chemiestrasse 22
Lampertheim, 68623
Germany
Tel: +49 (0) 6206 9570
Fax: +49 (0) 6206 957109
Sales EUR(mil): 72.4
Assets EUR(mil): 59.8
Employees: 150
Fiscal Year End: 31-Dec-2009
Industry: Chemical
Manufacturing
Incorporation Date: 25-Nov-1997
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(DEU): 61629
Managing director: Ralf-Jürgen
Becker
Contents
· Industry Codes
· Business Description
· Financial Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1899 - Other Basic Chemical Product Manufacturing Not Elsewhere
Classified
3323 - Industrial and Agricultural Chemical Product Wholesaling
NACE 2002 Codes:
5155 - Wholesale of chemical products
2466 - Manufacture of other chemical products not elsewhere
classified
NAICS 2002 Codes:
4246 - Chemical and Allied Products Merchant Wholesalers
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
US SIC 1987:
2899 - Chemicals and Chemical Preparations, Not Elsewhere
Classified
516 - Chemicals and Allied Products
UK SIC 2003:
2466 - Manufacture of other chemical products not elsewhere
classified
5155 - Wholesale of chemical products
Business
Description
Galata Chemicals
GmbH is primarily engaged in manufacture of various chemical products:
peptones, peptone derivatives, other protein substances and their derivatives
not elsewhere classified; chemically modified oils and fats; materials used in
the finishing of textiles and leather; powders and pastes used in soldering,
brazing or welding; substances used to pickle metal; prepared additives for
cements; activated carbon, lubricating oil additives, prepared rubber
accelerators, catalysts and other chemical products for industrial use;
anti-knock preparations, anti-freeze preparations, liquids for hydraulic
transmission; and composite diagnostic or laboratory reagents. This class also
includes: manufacture of writing and drawing ink.
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 63 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Middlebury, CT |
United States |
Chemical Manufacturing |
2,760.0 |
4,200 |
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Subsidiary |
Pawcatuck, CT |
United States |
Miscellaneous Capital Goods |
221.0 |
751 |
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Subsidiary |
Erkrath |
Germany |
Miscellaneous Capital Goods |
|
150 |
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Branch |
Fulton, NY |
United States |
Miscellaneous Fabricated Products |
43.8 |
136 |
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Branch |
Somerville, NJ |
United States |
Fabricated Plastic and Rubber |
22.7 |
100 |
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Subsidiary |
Brierley Hill |
United Kingdom |
Business Services |
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Subsidiary |
Warley |
United Kingdom |
Business Services |
5.0 |
20 |
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Branch |
El Dorado, AR |
United States |
Chemical Manufacturing |
219.6 |
400 |
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Division |
Pawcatuck, CT |
United States |
Miscellaneous Capital Goods |
|
400 |
|
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Branch |
Hahnville, LA |
United States |
Chemical Manufacturing |
164.7 |
300 |
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Subsidiary |
Lawrenceville, GA |
United States |
Chemical Manufacturing |
600.0 |
280 |
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Branch |
Conyers, GA |
United States |
Chemical Manufacturing |
164.7 |
300 |
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Branch |
Westlake, LA |
United States |
Chemical Manufacturing |
11.5 |
21 |
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Branch |
Conyers, GA |
United States |
Chemical Manufacturing |
11.5 |
21 |
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Branch |
Decatur, GA |
United States |
Chemical Manufacturing |
11.5 |
21 |
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Subsidiary |
Bergkamen |
Germany |
Chemical Manufacturing |
101.3 |
260 |
|
|
Subsidiary |
Lampertheim, Hessen |
Germany |
Chemical Manufacturing |
100.7 |
150 |
|
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Branch |
Tarrytown, NY |
United States |
Chemical Manufacturing |
250.3 |
250 |
|
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Branch |
El Dorado, AR |
United States |
Chemical Manufacturing |
109.8 |
200 |
|
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Division |
Waterbury, CT |
United States |
Chemical Manufacturing |
|
200 |
|
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Subsidiary |
Latina, Latina |
Italy |
Chemical Manufacturing |
151.4 |
173 |
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Chemical Manufacturing |
|
160 |
|
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Subsidiary |
Pedrengo, Bergamo |
Italy |
Chemical Manufacturing |
10.6 |
59 |
|
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Subsidiary |
Fords, NJ |
United States |
Chemical Manufacturing |
39.4 |
170 |
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Branch |
Waldkraiburg |
Germany |
Chemical Manufacturing |
17.2 |
150 |
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Subsidiary |
Catenoy |
France |
Personal and Household Products |
22.4 |
113 |
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Branch |
São Paulo |
Brazil |
Chemical Manufacturing |
|
113 |
|
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Subsidiary |
Elmira, ON |
Canada |
Chemical Manufacturing |
126.9 |
100 |
|
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Subsidiary |
Slough |
United Kingdom |
Chemical Manufacturing |
22.9 |
92 |
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Subsidiary |
Manchester |
United Kingdom |
Commercial Banks |
|
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Subsidiary |
Taipei City, Taipei City |
Taiwan |
Chemical Manufacturing |
1.0 |
90 |
|
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Subsidiary |
East Hanover, NJ |
United States |
Oil and Gas Operations |
35.1 |
85 |
|
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Branch |
Adrian, MI |
United States |
Chemical Manufacturing |
43.9 |
80 |
|
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Branch |
Gastonia, NC |
United States |
Chemical Manufacturing |
37.3 |
68 |
|
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Division |
Pawcatuck, CT |
United States |
Miscellaneous Capital Goods |
|
64 |
|
|
Branch |
Mt Prospect, IL |
United States |
Chemical Manufacturing |
32.9 |
60 |
|
|
Subsidiary |
South Adelaide, SA |
Australia |
Chemical Manufacturing |
1.0 |
25 |
|
|
Subsidiary |
Singapore |
Singapore |
Chemical Manufacturing |
150.0 |
20 |
|
|
Subsidiary |
Bangkok |
Thailand |
Crops |
1.0 |
5 |
|
|
Subsidiary |
Bergkamen |
Germany |
Chemical Manufacturing |
125.0 |
|
|
|
Subsidiary |
Altamira |
Mexico |
Fabricated Plastic and Rubber |
20.0 |
|
|
|
Subsidiary |
Manchester |
United Kingdom |
Chemical Manufacturing |
0.0 |
|
|
|
Subsidiary |
Accrington |
United Kingdom |
Chemicals - Plastics and Rubber |
46.4 |
167 |
|
|
Subsidiary |
Accrington |
United Kingdom |
Miscellaneous Capital Goods |
|
|
|
|
Great Lakes Chemical Corp |
Branch |
|
|
|
|
|
|
Subsidiary |
West Lafayette, IN |
United States |
Chemical Manufacturing |
300.3 |
300 |
|
|
Subsidiary |
Waldkraiburg, Bayern |
Germany |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Hong Kong, Hong Kong |
Hong Kong |
Chemical Manufacturing |
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Executive report
|
Galata Chemicals
Announces Increase in Mixed Metal and Epoxidized Soybean Oil Heat Stabilizers
PR Newswire US: 15
June 2011
[What follows is the
full text of the news story.]
SOUTHBURY, Conn., June 15, 2011 /PRNewswire/ -- Effective June 15, 2011,
or as contract terms allow, Galata Chemicals will increase the price of its
Drapex� epoxidized soybean oil by up to USD 0.08 / lb in North & South
America.
Additionally,
effective July 1, 2011, or as contract terms allow, Galata Chemicals will
increase the price of all Mark� mixed metal heat stabilizers by up to 10% in
North & South America. This increase is necessary to address the rapid and
continuing escalation in raw material costs, not only tin metal but also other
primary raw materials including, but not limited to, 2-ethylhexanoic (2-EH
Acid), 2-ethylhexanol (2-EH Alcohol), tall oil fatty acid (TOFA), soybean oil
and liquid phosphite esters.
Galata Chemicals
is a leading global producer of PVC additives including mixed metal heat
stabilizers, tin heat stabilizers, epoxidized soybean oil, polymer modifiers
and chemical foaming agents.
Additional information
concerning Galata will be available at www.galatachemicals.com.
Contacts:
Yaquelin Abreu
yaquelin.abreu@galatachemicals.com
+1 203 236 9000
Luc De Temmerman Named CEO of Galata Chemicals
Galata Chemicals
Journal of India: 01 June 2011
[What follows is the full text of the news story.]
Galata Chemicals,
a leading global producer of additives for PVC and other polymer applications,
announced the appointment of Dr. Luc De Temmerman as President and Chief
Executive Officer. Luc, who most recently served as Executive Vice President of
Solutia, Inc., assumes the responsibilities from Eric Wisnefsky effective May
20, 2011.
Luc De Temmerman's
appointment is an integral piece of a targeted campaign to expand Galata's
high-quality product portfolio and long-standing customer relationships into
new regions and new end markets, while providing innovative product solutions
and enhanced technical service levels.
"Luc's high
profile track record in building and leading technical, commercial and global
business teams will ensure effective execution of the long-term strategy for
Galata Chemicals," said Michael Fieldstone, Partner of Aterian Investment
Partners, a private investment firm whose affiliate owns Galata in partnership
with Artek Surfin Chemicals Ltd., a Mumbai, India based company. "We
appreciate Eric Wisnefsky's significant contributions in shaping the company
strategy, and wish him well in his future activities. We now turn our full attention
to the growth and success of Galata through focused execution under Luc De
Temmerman's leadership," Fieldstone stated.
Galata Chemicals
develops, manufactures, sells and distributes tin stabilizers, liquid and solid
mixed metals, liquid phosphite esters, epoxidized soybean oil, organic-based
stabilizers, and impact modifiers used primarily in PVC applications. The PVC
Additives business has plants in North America and Europe, including two
principal facilities in Taft, Louisiana, USA and Lampertheim, Germany. Galata
Chemicals was formed on April 30, 2010 with the sale of Chemtura's PVC
Additives business to Artek Aterian Holdings, a partnership between Aterian
Investment Partners, a New York-based private equity firm, and Artek Surfin
Chemicals Ltd., a Mumbai, India based company.
Additional
information concerning Galata will be available at www.galatachemicals.com.
Luc De Temmerman Named CEO of Galata Chemicals
PR Newswire US: 20 May 2011
[What follows is the full text of the news story.]
SOUTHBURY, Conn.,
May 20, 2011 /PRNewswire/ -- Galata Chemicals, a leading global producer of
additives for PVC and other polymer applications, announced the appointment of
Dr. Luc De Temmerman as President and Chief Executive Officer. �Luc, who most
recently served as Executive Vice President of Solutia, Inc., assumes the
responsibilities from Eric Wisnefsky effective May 20, 2011.
Luc De Temmerman's
appointment is an integral piece of a targeted campaign to expand Galata's
high-quality product portfolio and long-standing customer relationships into
new regions and new end markets, while providing innovative product solutions
and enhanced technical service levels.
"Luc's high
profile track record in building and leading technical, commercial and global business
teams will ensure effective execution of the long-term strategy for Galata
Chemicals," said Michael Fieldstone, Partner of Aterian Investment
Partners, a private investment firm whose affiliate owns Galata in partnership
with Artek Surfin Chemicals Ltd., a Mumbai, India based company. �"We
appreciate Eric Wisnefsky's significant contributions in shaping the company
strategy, and wish him well in his future activities. We now turn our full
attention to the growth and success of Galata through focused execution under
Luc De Temmerman's leadership," Fieldstone stated.
Galata Chemicals
develops, manufactures, sells and distributes tin stabilizers, liquid and solid
mixed metals, liquid phosphite esters, epoxidized soybean oil, organic-based
stabilizers, and impact modifiers used primarily in PVC applications. �The
PVC Additives business has plants in North America and Europe, including two
principal facilities in Taft, Louisiana, USA and Lampertheim, Germany.
�Galata Chemicals was formed on April 30, 2010 with the sale of Chemtura's
PVC Additives business to Artek Aterian Holdings, a partnership between Aterian
Investment Partners, a New York-based private equity firm, and Artek Surfin
Chemicals Ltd., a Mumbai, India based company.
Additional information
concerning Galata will be available at www.galatachemicals.com.
Galata Chemicals and Trulabs Introduce Soypex to
Candle Market Galata Chemicals
Energy Weekly News: 17 March 2011
[What follows is the full text of the news story.]
Galata Chemicals is pleased to introduce a new,
renewable vegetable-based candle wax component, Soypex�100.
Soypex�100 can
be used to replace paraffin wax in existing petroleum-based candle products,
increase bio-based content, improve burn characteristics of commercial soy
wax-containing candles and enable development of new "green" candle
formulations and brands of high bio-based content.
Soypex�100 is
suitable for preparation of both container and free-standing candles of up to
100% bio-based content, providing to consumers totally natural solutions. It is
miscible with colorants, fragrances and essential oils and can be used in
combinations with all commercially available waxes, resulting in significantly
reduced smoke and soot formation, prolonged burn time, excellent glass
adhesion, and high scent throw.
Trulabs, LLC, a
company that manufactures premium quality candles, is successfully
incorporating Soypex�100 into its luxury candle brands Saint Parfum� and
Modern Notes� scented candle products and confirmed excellent performance
with the use of Soypex�100.
Spencer Krenke,
CEO of Trulabs, LLC, stated, "Soypex�100 is one of the (if not the) most
exciting raw materials I've seen in 15 years within the innovative candle raw
material community, and given the growing consumer demand for products which
are from renewable resources, as well as the instability in the petroleum
market, it's a welcome necessity to our industry. We've been able to increase
the percentage of natural component, increase burn times, reduce soot and
improve fragrance throw with Soypex � 100."
"The
increasing scarcity of paraffin wax due to reduced refining of Group I base
oils has created the market need for alternatives. Galata is well positioned to
provide innovative products from renewable feedstock. Those products provide
very meaningful positive environmental impact, while maintaining or exceeding
high performance standards of the conventional products. We are excited about
launching this new product for the candle industry. Soypex�100 exemplifies
our focus on sustainability and environmentally-preferred product options for
our customers" - said Eric Wisnefsky, President and CEO of Galata
Chemicals, LLC.
Following the successful
product development and commercialization at selected candle manufacturers,
Soypex�100 will now be available industry-wide at the upcoming 10th Annual
Trade Show in Las Vegas, Nevada. The tradeshow is sponsored by the National
Candle Association and will be held at Planet Hollywood Resort and Casino on
April 6, 2011.
Galata Chemicals and Trulabs Introduce Soypex to
Candle Market Galata Chemicals
Energy Weekly News: 16 March 2011
[What follows is the full text of the news story.]
Galata Chemicals is pleased to introduce a new,
renewable vegetable-based candle wax component, Soypex�100.
Soypex�100 can
be used to replace paraffin wax in existing petroleum-based candle products,
increase bio-based content, improve burn characteristics of commercial soy
wax-containing candles and enable development of new "green" candle
formulations and brands of high bio-based content.
Soypex�100 is
suitable for preparation of both container and free-standing candles of up to
100% bio-based content, providing to consumers totally natural solutions. It is
miscible with colorants, fragrances and essential oils and can be used in
combinations with all commercially available waxes, resulting in significantly
reduced smoke and soot formation, prolonged burn time, excellent glass
adhesion, and high scent throw.
Trulabs, LLC, a
company that manufactures premium quality candles, is successfully
incorporating Soypex�100 into its luxury candle brands Saint Parfum� and
Modern Notes� scented candle products and confirmed excellent performance
with the use of Soypex�100.
Spencer Krenke,
CEO of Trulabs, LLC, stated, "Soypex�100 is one of the (if not the) most
exciting raw materials I've seen in 15 years within the innovative candle raw
material community, and given the growing consumer demand for products which
are from renewable resources, as well as the instability in the petroleum
market, it's a welcome necessity to our industry. We've been able to increase
the percentage of natural component, increase burn times, reduce soot and
improve fragrance throw with Soypex � 100."
"The
increasing scarcity of paraffin wax due to reduced refining of Group I base
oils has created the market need for alternatives. Galata is well positioned to
provide innovative products from renewable feedstock. Those products provide
very meaningful positive environmental impact, while maintaining or exceeding
high performance standards of the conventional products. We are excited about
launching this new product for the candle industry. Soypex�100 exemplifies
our focus on sustainability and environmentally-preferred product options for
our customers" - said Eric Wisnefsky, President and CEO of Galata
Chemicals, LLC.
Following the
successful product development and commercialization at selected candle
manufacturers, Soypex�100 will now be available industry-wide at the upcoming
10th Annual Trade Show in Las Vegas, Nevada. The tradeshow is sponsored by the
National Candle Association and will be held at Planet Hollywood Resort and Casino
on April 6, 2011.
Galata Chemicals introduces renewable
vegetable-based candle wax component
Datamonitor Energy/UtilitiesWire: 14 March 2011
[What follows is the full text of the news story.]
Galata Chemicals,
a specialty chemical company with environmentally-preferred technical
solutions, has introduced a new, renewable vegetable-based candle wax
component, Soypex 100.
Soypex 100 can be
used to replace paraffin wax in existing petroleum-based candle products, increase
bio-based content, improve burn characteristics of commercial soy
wax-containing candles and enable development of new green candle formulations
and brands of high bio-based content.
Soypex 100 is
suitable for preparation of both container and free-standing candles of up to
100% bio-based content, providing to consumers totally natural solutions. It is
miscible with colorants, fragrances and essential oils and can be used in
combinations with all commercially available waxes, resulting in significantly
reduced smoke and soot formation, prolonged burn time, excellent glass
adhesion, and high scent throw.
"The
increasing scarcity of paraffin wax due to reduced refining of Group I base
oils has created the market need for alternatives. Galata is well positioned to
provide innovative products from renewable feedstock. Those products provide
very meaningful positive environmental impact, while maintaining or exceeding
high performance standards of the conventional products. We are excited about
launching this new product for the candle industry." said Eric Wisnefsky,
President and CEO of Galata Chemicals, LLC.
Galata Chemicals and Trulabs Introduce Soypex� to
Candle Market
PR Newswire US: 09 March 2011
[What follows is the full text of the news story.]
SOUTHBURY, Conn.,
March 9, 2011 /PRNewswire/ -- Galata Chemicals is pleased to introduce a new,
renewable vegetable-based candle wax component, Soypex�100. �
Soypex�100 can
be used to replace paraffin wax in existing petroleum-based candle products,
increase bio-based content, improve burn characteristics of commercial soy
wax-containing candles and enable development of new "green" candle
formulations and brands of high bio-based content.
Soypex�100 is
suitable for preparation of both container and free-standing candles of up to
100% bio-based content, providing to consumers totally natural solutions. It is
miscible with colorants, fragrances and essential oils and can be used in
combinations with all commercially available waxes, resulting in significantly
reduced smoke and soot formation, prolonged burn time, excellent glass
adhesion, and high scent throw.
Trulabs, LLC, a
company that manufactures premium quality candles, is successfully
incorporating Soypex�100 into its luxury candle brands Saint Parfum� and
Modern Notes� scented candle products and confirmed excellent performance
with the use of Soypex�100. �
Spencer Krenke,
CEO of Trulabs, LLC, stated, "Soypex�100 is one of the (if not the) most
exciting raw materials I've seen in 15 years within the innovative candle raw
material community, and given the growing consumer demand for products which
are from renewable resources, as well as the instability in the petroleum
market, it's a welcome necessity to our industry. We've been able to increase
the percentage of natural component, increase burn times, reduce soot and
improve fragrance throw with Soypex � 100."
"The
increasing scarcity of paraffin wax due to reduced refining of Group I base
oils has created the market need for alternatives. �Galata is well positioned
to provide innovative products from renewable feedstock. �Those products
provide very meaningful positive environmental impact, while maintaining or
exceeding high performance standards of the conventional products. �We are
excited about launching this new product for the candle industry.
�Soypex�100 exemplifies our focus on sustainability and
environmentally-preferred product options for our customers" � said Eric
Wisnefsky, President and CEO of Galata Chemicals, LLC.
Following the
successful product development and commercialization at selected candle
manufacturers, Soypex�100 will now be available industry-wide at the upcoming
10th Annual Trade Show in Las Vegas, Nevada. �The tradeshow is sponsored by
the National Candle Association and will be held at Planet Hollywood Resort and
Casino on April 6, 2011.
Galata Chemicals
Galata Chemicals
is a specialty chemical company dedicated to serving candle and specialty
chemical industries with environmentally-preferred technical solutions.
Additional
information concerning Galata is available at www.galatachemicals.com.
Contact:
Peter Frenkel
203-236-9022,
peter.frenkel@galatachemicals.com
UNITED STATES : Luc De Temmerman Named CEO of Galata
Chemicals
TendersInfo News
21 May 2011
[What follows is the full text of the article.]
Galata Chemicals,
a leading global producer of additives for PVC and other polymer applications,
announced the appointment of Dr. Luc De Temmerman as President and Chief
Executive Officer. Luc, who most recently served as Executive Vice President of
Solutia, Inc., assumes the responsibilities from Eric Wisnefsky effective May
20, 2011.
Luc De Temmerman's
appointment is an integral piece of a targeted campaign to expand Galata's
high-quality product portfolio and long-standing customer relationships into
new regions and new end markets, while providing innovative product solutions
and enhanced technical service levels.
"Luc's high
profile track record in building and leading technical, commercial and global
business teams will ensure effective execution of the long-term strategy for
Galata Chemicals," said Michael Fieldstone, Partner of Aterian Investment
Partners, a private investment firm whose affiliate owns Galata in partnership
with Artek Surfin Chemicals Ltd., a Mumbai, India based company. "We
appreciate Eric Wisnefsky's significant contributions in shaping the company
strategy, and wish him well in his future activities. We now turn our full
attention to the growth and success of Galata through focused execution under
Luc De Temmerman's leadership," Fieldstone stated.
Galata Chemicals
develops, manufactures, sells and distributes tin stabilizers, liquid and solid
mixed metals, liquid phosphite esters, epoxidized soybean oil, organic-based
stabilizers, and impact modifiers used primarily in PVC applications. The PVC
Additives business has plants in North America and Europe, including two
principal facilities in Taft, Louisiana, USA and Lampertheim, Germany. Galata
Chemicals was formed on April 30, 2010 with the sale of Chemtura's PVC
Additives business to Artek Aterian Holdings, a partnership between Aterian
Investment Partners, a New York-based private equity firm, and Artek Surfin
Chemicals Ltd., a Mumbai, India based company.
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Related Topics
· Company Leadership
· Executive Changes
· Management Team
Related Geographies
· Asia
· India
Annual Profit & Loss
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
100.7 |
139.7 |
134.4 |
|
Raw materials and services |
75.7 |
107.8 |
94.9 |
|
Net sales |
100.7 |
139.7 |
134.4 |
|
Change in stock |
-3.0 |
-0.8 |
-0.6 |
|
Own work capitalised |
0.0 |
0.1 |
0.0 |
|
Other operating income |
2.7 |
2.5 |
1.4 |
|
Raw materials and consumables employed |
75.7 |
107.8 |
94.9 |
|
Other external charges |
1.4 |
1.5 |
1.6 |
|
Cost of goods sold |
77.1 |
109.3 |
96.4 |
|
Cost of raw materials |
77.1 |
109.3 |
96.4 |
|
Taxes and social security costs |
3.2 |
4.2 |
2.9 |
|
Total payroll costs |
14.0 |
16.4 |
14.9 |
|
Fixed asset depreciation and amortisation |
1.6 |
1.9 |
1.9 |
|
Other operating costs |
39.4 |
41.2 |
37.0 |
|
Net operating
income |
-11.9 |
-6.7 |
3.5 |
|
Other income |
0.4 |
3.3 |
0.2 |
|
Interest payable on loans |
0.2 |
0.5 |
0.5 |
|
Total expenses |
-0.2 |
-2.8 |
0.4 |
|
Profit before tax |
-11.7 |
-3.9 |
3.1 |
|
Provisions |
22.8 |
28.2 |
22.4 |
|
Extraordinary expenses |
- |
2.6 |
1.0 |
|
Extraordinary result |
- |
-2.6 |
-1.0 |
|
Other taxes |
0.0 |
0.0 |
0.1 |
|
Profit distributed to shareholders |
11.7 |
6.5 |
-2.1 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Issued capital |
3.7 |
3.6 |
3.7 |
|
Capital reserves |
29.7 |
28.7 |
30.2 |
|
Total
stockholders equity |
33.3 |
32.3 |
34.0 |
|
Other provisions |
3.5 |
7.9 |
4.6 |
|
Provision for pensions |
20.0 |
18.9 |
19.3 |
|
Provisions and allowances |
23.5 |
26.8 |
23.9 |
|
Trade creditors |
2.1 |
- |
7.1 |
|
Taxation and social security |
1.8 |
- |
0.6 |
|
Due to group companies |
25.1 |
- |
15.4 |
|
Total current
liabilities |
29.0 |
18.9 |
23.1 |
|
Total
liabilities (including net worth) |
85.8 |
77.9 |
80.9 |
|
Patents |
0.3 |
0.4 |
0.5 |
|
Intangibles |
0.3 |
0.4 |
0.5 |
|
Land and buildings |
3.3 |
3.6 |
4.2 |
|
Machinery and tools |
4.4 |
4.7 |
5.0 |
|
Fixtures and equipment |
3.3 |
3.6 |
4.2 |
|
Fixed assets under construction |
0.3 |
0.2 |
0.3 |
|
Total tangible
fixed assets |
8.4 |
8.9 |
9.9 |
|
Total
non-current assets |
8.7 |
9.3 |
10.3 |
|
Raw materials |
4.0 |
- |
3.7 |
|
Finished goods |
5.8 |
- |
12.0 |
|
Net stocks and work in progress |
9.9 |
13.7 |
15.7 |
|
Trade debtors |
0.2 |
7.3 |
12.6 |
|
Other receivables |
3.3 |
3.2 |
2.9 |
|
Total
receivables |
67.1 |
54.8 |
54.6 |
|
Owing from associated companies |
63.5 |
44.3 |
39.1 |
|
Cash and liquid assets |
0.0 |
0.0 |
0.0 |
|
Total current
assets |
76.9 |
68.6 |
70.4 |
|
Prepaid expenses and deferred costs |
0.2 |
0.1 |
0.2 |
|
Total assets |
85.8 |
77.9 |
80.9 |
Annual Ratios
Financials
in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
26.50 |
36.32 |
30.49 |
|
Acid test ratio |
23.11 |
29.08 |
23.67 |
|
Total liabilities to net worth |
0.09% |
0.06% |
0.07% |
|
Net worth to total assets |
0.04% |
0.04% |
0.04% |
|
Current liabilities to net worth |
0.09% |
0.06% |
0.07% |
|
Current liabilities to stock |
0.29% |
0.14% |
0.15% |
|
Fixed assets to net worth |
0.03% |
0.03% |
0.03% |
|
Collection period |
7.00 |
201.00 |
321.00 |
|
Stock turnover rate |
0.95 |
1.03 |
1.10 |
|
Profit margin |
-0.01% |
0.00% |
0.00% |
|
Return on assets |
-0.01% |
-0.01% |
0.00% |
|
Shareholders' return |
-0.04% |
-0.02% |
0.01% |
|
Sales per employee |
50.65 |
64.09 |
64.59 |
|
Profit per employee |
-5.90 |
-1.82 |
1.48 |
|
Average wage per employee |
7.06 |
7.53 |
7.15 |
|
Net worth |
33.3 |
32.3 |
34.0 |
|
Number of employees |
143 |
149 |
152 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.94 |
|
UK Pound |
1 |
Rs.74.28 |
|
Euro |
1 |
Rs.64.97 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.