Extrusion International USA 5-2020

24 Extrusion International 5/2020 EXTRUSION INTERNATIONAL INDUSTRY NEWS Gelest, www.gelest.com ; www.bimax.com Gelest announced it has completed the sale of Gelest In- termediate Holdings to Mitsubishi Chemical America, Inc. the U.S. subsidiary of Mitsubishi Chemical Corporation. Gelest In- termediate Holdings is the parent of Gelest, Inc. and Bimax, Inc.. The transaction, which was announced on April 30, 2020, has cleared all regulatory approvals. Gelest was founded in 1990 by Dr. Barry Arkles and Kevin King and has become a global leader in silicones, organosilanes, metal-organics, and specialty monomers technology, manu- facturing, and supply for high-growthmaterials-science inten- sive applications such as medical devices, life sciences, micro- electronics, and personal care. In March, 2017, NewMountain Capital, LLC. made a majority investment in Gelest and has worked with the founders and management to scale the com- pany through organic initiatives and M&A. Gelest also announced that Dr. Jonathan Goff has been pro- moted to the role of Chief Technology Officer (CTO). Dr. Goff joined Gelest in 2009 and currently manages the Polymer De- velopment, Technical Services, Silanes & Metal-Organic, Re- search Engineering and Quality Control groups. Sale Completed and Chief Technology Officer Appointed Plastics Machinery Shipments Increased in the Second Quarter The CES also conducts a quarterly survey of plastics machinery suppliers asking about present market conditions and expec- tations for the future. 40.0%of respondents expect conditions to either improve or hold steady in the third quarter – higher than the 18.5%who felt similarly in the first quarter. As for the next 12 months, 24.0% of respondents expect mar- ket conditions to be steady or better, slightly above the 22.6% who felt similarly in the previous quarterly survey. “It was projected that the plastics industry will experience the worst impact of the coronavirus disruption in the second quarter. However, not all sectors of the economy closed,” said Pineda, explaining that the plastics industry is an essen- tial one. Many businesses have remained open to ensure un- interrupted supply for products in the healthcare sector, for example. “There are also other segments in U.S. manufacturing – par- ticularly in nondurable essential goods – that use plastic materials or products that continued operations during the lockdowns,” said Pineda. “Plastics equipment suppliers and converters serving essential consumer end-markets have a reason to be optimistic as economic conditions continue to improve.” Plastics machinery exports in the second quarter totaled $289 million, a 21.0% drop from the previous one. Imports rose by 15.0% to $649.5 million, resulting in a trade deficit of $360.5 million, 9.0% lower than in the second quarter last year. Canada and Mexico remain the top export markets for U.S. equipment suppliers. Combined exports to the USMCA trade partners totaled $134.5 million, representing 46.5% of total U.S. plastics machinery exports in the second quarter. The Plastics Industry Association (PLASTICS) plasticsindustry.org Second quarter shipments of primary plastics machinery (injection molding and extrusion) in North America increased, according to statistics compiled and reported by the Plastics Industry Association’s (PLASTICS) Committee on Equipment Statistics (CES). The preliminary estimate of shipments value from reporting companies totaled $263.4 million, a 4.0% increase over the first quarter of 2020, when shipments decreased 19.8% from the previous quarter. However, the percentage decrease in the first quarter of this year was 10.7% lower than during the same period last year. The value of shipments of single- and twin-screwextruders fell 35.8% and 30.1%, respectively, in the second quarter. Ship- ments of injection molding equipment were up 11.4% from the first quarter, but down 8.5% from the second quarter of last year. “Although primary plastics machinery shipments are still lower than the previous quarters, the second quarter uptick is consistent with gradual improvement in the U.S. economy,” according to PLASTICS Chief Economist Perc Pineda, PhD. Perc Pineda, PhD, PLASTICS Chief Economist