Estane polyurethane prices boosted by Noveon
Lubrizol Corp. subsidiary Noveon Inc. boosted prices of its Estane thermoplastic polyurethanes by 18 cents per pound on April 1.
Product lines included are Estane, Estaloc and EstaGrip, according to the company. Noveon declined to give a reason for the price hikes.
Goodyear adding $300 million to financing plan
Goodyear plans to add a $300 million third-lien secured term loan facility to its previously announced $3.35 billion in credit facilities maturing in 2010.
Arranged by JPMorgan and Deutsche Bank Securities Inc., the third-lien term facility would be due in March 2011 and be secured equally with the tire maker's existing secured bonds due in 2011, Goodyear said. The deal is expected to close in early April.
Sartomer to increase prices of Norsolene resins
Sartomer Co. said it will boost prices of its Norsolene hydrocarbon resins 6 cents a pound on May 1.
The price hike for the raw material used in elastomers, adhesives, coatings and other applications is the result of continuing increases in energy and raw material costs, the company said. Sartomer also blamed environmental, regulatory and safety issue costs for the higher prices.
Magnifoam silicone unit awarded seating contract
Magnifoam Technology International Inc.'s North American Silicone division has been awarded a $440,000 contract to supply silicone foam seating components to the Southeastern Pennsylvania Transit Authority for the refurbishment of one of its lines.
The latest deal is in addition to a $500,000 contract Magnifoam filled in 2003-04 for the refurbishment of 108 Silverliner IV rail cars and a second pact for new Silverliner V rail cars valued at more than $600,000.
DuPont unit hikes Vamac ethylene acrylic prices
DuPont Packaging & Industrial Polymers, North America, raised prices on Vamac ethylene acrylic elastomers April 1 or as customer contracts allow.
The increases range from 3 to 9 percent depending on the grade, the company said. It cited sustained hikes in energy and raw material costs as the reasons behind the move.
Parker revises quarterly income forecast downward
Parker Hannifin Corp. revised its third-quarter earnings forecast downward to $1.05 to $1.15 per diluted share from the previous outlook of $1.10 to $1.30 per diluted share.
It also revised full-year earnings estimates to fall between $4.60 and $4.80 per diluted share.
The company cited a greater-than-anticipated softening of the automotive market, slowdowns in mobile markets in its International Industrial segment, and ongoing inventory reductions as reasons for the revised forecast.
Bridgestone Firestone North American Tire L.L.C.'s Bridgestone Turanza EL40002 tires have been selected for original equipment fitment on the 2006 General Motors Corp. Cadillac DTS...The Polyurethane Manufacturers Association has redesigned its Web site, www.pmahome.org...The Rubber Association of Canada and the Canadian government will hold the second national Be Tire Smart Week April 24-30...Molded Rubber and Plastic Corp. has named Avicom Marketing Communications as its marketing agency...Bridgestone Firestone North American Tire L.L.C. will supply both Bridgestone and Firestone tires on several models of the 2005 Toyota Tacoma light truck.