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Kraton Corporation is a leading global producer of specialty polymers and high-value performance products derived from renewable resources. Kraton's polymers serve a broad spectrum of industries, including adhesives, coatings, consumer and personal care products, sealants, lubricants, medical, packaging, automotive, paving, and roofing products. As a significant player in the pine chemicals industry, Kraton's pine-based specialty products are utilized in adhesive, road and construction, and tire markets. Additionally, Kraton produces and sells a wide range of performance chemicals that cater to markets like fuel additives, oilfield chemicals, coatings, metalworking fluids, lubricants, inks, and mining.
With a diverse customer base spanning over 70 countries, Kraton continues to innovate and expand its product offerings. The company's recent achievements include the appointment of Marcello Boldrini as CEO, a move that is expected to drive further growth and innovation. Under Mr. Boldrini's leadership, Kraton aims to realize its 2030 vision of becoming a leading sustainable producer of specialty polymers and pine chemicals.
Kraton's commitment to sustainability and innovation positions it as a key player in solving complex industrial challenges. The company's products are essential in numerous applications, making it a crucial partner for industries worldwide. With strategic planning and effective execution, Kraton is well-prepared to unlock new opportunities and create value for its customers, employees, and communities.
Kraton Corporation (NYSE: KRA) announced a definitive merger agreement with DL Chemical Co., Ltd., valuing the company at approximately $2.5 billion. Shareholders will receive $46.50 per share, reflecting a 50% premium over its market value from early July. The acquisition aims to maximize shareholder value and enhance Kraton's global reach, leveraging DL Chemical's industry presence. This transaction is unanimously approved by the Board and is expected to close by mid-2022, subject to regulatory and shareholder approvals.
Kraton Corporation (NYSE: KRA) announced a price increase of $440 USD per metric ton ($0.20 per pound) for all HSBC products, effective from September 1, 2021. This decision results from rising raw material costs, energy prices, and logistics expenses. The company is a prominent global producer of specialty polymers and bio-based products derived from pine wood co-products, serving diverse applications across various industries worldwide.
Kraton Corporation (NYSE: KRA) reported a consolidated net income of $38.4 million for Q2 2021, a significant recovery from a net loss of $7.1 million in Q2 2020. Revenue soared to $493.6 million, driven by higher sales volumes and price increases. Adjusted EBITDA fell 11.1% to $61.8 million, impacted by $16.9 million in turnaround costs in France. The Polymer segment saw operating income rise to $42 million, while Chemical segment Adjusted EBITDA surged 126.2% to $35.5 million. Consolidated debt decreased by $14.1 million.
Kraton Corporation (NYSE: KRA) has scheduled a conference call for July 29th at 8:00 a.m. CT to discuss its Q2 2021 financial results, which will be released after market close on July 28, 2021. The call can be accessed via the company’s website. Key executives will include Kevin M. Fogarty, Atanas H. Atanasov, and H. Gene Shiels. A replay will be available until August 12, 2021.
Kraton Corporation (NYSE: KRA) has received Critical Guidance Recognition from the Association of Plastic Recyclers (APR) for its CirKular+ Performance Enhancement Series C2000 and C3000, specifically designed for high-density polyethylene (HDPE) bottles. This recognition highlights Kraton's commitment to sustainability and enhancing recyclability in plastics. The CirKular+ series can improve recyclate impact strength by up to 500% and supports the circular economy, ensuring compatibility with current HDPE recycling streams, which aids in achieving customer sustainability goals.
Kraton Corporation (NYSE: KRA) announced a 20% price increase on its CTO Refinery products and derivatives, effective June 1, 2021. This strategic move aims to enhance profitability amidst rising costs associated with raw materials and production. Kraton, a global leader in specialty polymers, serves diverse markets with its sustainable products derived from renewable resources, emphasizing its commitment to sustainability and innovation in the pine chemicals industry.
Kraton Corporation (NYSE: KRA) reported a consolidated net income of $34.6 million for Q1 2021, a significant decrease from $209.0 million in Q1 2020, largely due to a prior year gain from the divestment of its Cariflex business. Adjusted EBITDA fell 13% to $67.7 million. The Polymer segment saw a 122.4% rise in operating income to $39.9 million, while the Chemical segment's operating income increased 31% to $13.5 million. Despite rising raw material prices, Kraton anticipates positive demand trends and expects 2021 Adjusted EBITDA to exceed $260 million, reflecting at least 10% growth compared to 2020.
Kraton Corporation (NYSE: KRA) announced that the U.S. Environmental Protection Agency (EPA) granted a public health emergency exemption for its product BiaXam in Georgia, Utah, and Minnesota. BiaXam can kill up to 99.999% of the SARS-CoV-2 virus and offers long-lasting protection for up to 200 days. Delta Air Lines will be the launch customer, using BiaXam on its kiosks and counters in selected cities. Kraton is pursuing further regulatory approvals for BiaXam in other jurisdictions while partnering with hospitals to explore potential applications.
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