In the second quarter of 2009:
- Cytec reported sales of $685 million and a loss of $0.01 per diluted share, excluding special items.
- All business segments experienced year-over-year sales declines due to weak demand and customer destocking, though some saw sequential improvement.
- Restructuring charges totaled $34 million, mostly related to Specialty Chemicals, to achieve $120 million in savings in 2009-2010.
- Cash flow from operations was $168 million versus $44 million in the prior year, demonstrating success of working capital improvement programs.
Highlights of the first quarter of 2009. Net sales amounted to SEK 25,818m (24,193) and income for the period to SEK -346m (-106), or SEK -1.22 (-0.38) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
Chevron's Experience with Thermoplastic Composites in Rotating EquipmentSarah Brewer
This public access presentation was made by Chevron and shared during the Saudi Aramco Global Reliability Forum 2012. It is a description of Chevron´s experience using thermoplastic composite wear parts in centrifugal pumps over the last 20 years.
Highlights of the first quarter of 2009. Net sales amounted to SEK 25,818m (24,193) and income for the period to SEK -346m (-106), or SEK -1.22 (-0.38) per share. Net sales declined by 8.4%, in comparable currencies, due to continued sharp market downturn in Electrolux main markets.
Chevron's Experience with Thermoplastic Composites in Rotating EquipmentSarah Brewer
This public access presentation was made by Chevron and shared during the Saudi Aramco Global Reliability Forum 2012. It is a description of Chevron´s experience using thermoplastic composite wear parts in centrifugal pumps over the last 20 years.
Thermostamping simulation for woven thermoplastic composites (PA) with HyperFormAltair
The thermostamping process of thermoplastic composites can be analyzed with simulation software. In addition to the optimization that can be brought to process (defects, raw material quantity …), the main interest is to integrate results from process into the performance simulation. This article presents an approach to simulate thermostamping of thermoplastic composites (PA) with HyperForm.
The material law is identified from Bias test trials, then, the simulation is performed by HyperForm with the solver Radioss or Ls-Dyna. Fiber orientations (for non-linear anisotropic behavior) and defects (global wrinkles, and wrinkles in the thickness, area with failure risk, thickness variation…) are identified and mapped on structural mesh for mechanical simulation.
Based on this approach, several test/simulation comparisons were performed on both static and dynamic. They demonstrate the necessity of considering the process phase, especially for complex geometries.
Regarding advanced application for such simulation tool: Faurecia Automotive Exterior is developing technologies to produce one-shot visible parts (CFRT thermostamping + overmolding injection in one step). This case study is the most challenging application we are working on. Combining thermostamping simulation and one-shot process brings benefits to both sides thanks to cross results on complex application.
Globaly, to improve the prediction of this simulation tool, next steps are the computation of local density; the consideration of thermal exchanges with the mold during the production process; the modelization improvement of boundary conditions during process (woven holding …, frames…).
Speakers
Guillaume CHAMBON, Product Research & Advanced Simulation Manager, FAURECIA Automotive Exterior
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
2. Forward Looking Statement
During the course of this meeting we may make forward‐looking statements. All statements that address
expectations or projections about the future are forward‐looking statements.
Some of these statements include words such as “expects”, “anticipates,” “plans,” “intends,” “projects,”
and “outlook.” Although they reflect our current expectations, these statements are not guarantees of
future performance because they involve a number of risks, uncertainties, and assumptions.
Included in this presentation are estimates for full year 2009 sales and earnings. These were included in our
July 16, 2009 press release, which was also furnished as an exhibit to a current report on Form 8‐K. These
estimates set forth the Company’s assumptions and management’s best estimate of the full year 2009 sales
and earnings at that time based on various assumptions set forth in the press release. There can be no
assurance that sales or earnings will develop in the manner then projected or that the results for the year
will be consistent with the results then projected. Actual results may differ materially.
We recommend that you review Cytec’s SEC filings for a discussion of some of the factors which could cause
actual results to differ materially from its expectations and projections. This and other Cytec information
may be accessed at www.cytec.com.
In sections of this presentation certain “non‐GAAP” measures are provided and identified as such. We
believe that the “non‐GAAP” measures can more accurately reflect comparisons of year to year trends and
is consistent with how we review the information. A reconciliation of “non‐GAAP” measures to the
applicable GAAP measure is provided in the appendix at the end of this presentation.
2
4. Business Segment Results
Coating Resins
$MM USD Q209 Q208 % chg ytd09 ytd08 % chg
Sales 295 477 -38% 542 930 -42%
Earnings (19.2) 21.9 -188% (39.5) 41.2 -196%
• Low demand globally in industrial Sales Comparison YOY
coatings, but volume improvement in
Q2 vs. Q1 of 25% Sales Growth ‐38%
• Maintained price in high‐value Volume ‐30%
waterborne products and gaining new
Price ‐3%
business
Currency ‐5%
• Restructuring on track to deliver benefit
in second half
4
5. Coating Resins
M$ Monthly Sales Trend
Positive signs of sequential demand growth in segment 5
6. Business Segment Results
Additive Technologies
$MM USD Q209 Q208 % chg ytd09 ytd08 % chg
Sales 63 90 -30% 114 170 -33%
Earnings 3.1 6.9 -55% 3.6 12.1 -70%
Sales Comparison YOY
• Weak demand in first half in
industrial markets
Sales Growth ‐30%
• Sales decline partially related to Volume ‐27%
exit of certain low‐value products
Price 1%
• Sequential volume improvement
Currency ‐4%
in Q2
6
7. Business Segment Results
In Process Separation
$MM USD Q209 Q208 % chg ytd09 ytd08 % chg
Sales 58 76 -23% 114 142 -20%
Earnings 2.1 10.9 -81% 6.8 17.2 -60%
Sales Comparison YOY
• Significant customer destocking in
first half 2009 in both the mining and Sales Growth ‐23%
phosphine product lines
Volume ‐24%
• Lower production of copper and
Price 3%
alumina (see graph on next page)
Currency ‐2%
• Price improvements as a result of
differentiated technology leverage
7
9. Business Segment Results
Engineered Materials
$MM USD Q209 Q208 % chg ytd09 ytd08 % chg
Sales 178 225 -21% 370 458 -19%
Earnings 22.1 44.8 -51% 55.2 92.8 -41%
• Lower volumes in large commercial Sales Comparison YOY
transport due to customer destocking
Sales Growth ‐21%
• Significant decline in business jets due
to reduced build rates Volume ‐22%
• Cost reduction program implemented Price 3%
for an additional $20 million benefit Currency ‐2%
(annualized)
9
10. Business Segment Results
Building Block Chemicals
$MM USD Q209 Q208 % chg ytd09 ytd08 % chg
Sales 91 138 -34% 158 279 -43%
Earnings 1.9 6.5 -71% 5.1 12.4 -59%
• Unfavorable margin impact from Sales Comparison YOY
higher propylene costs used in
acrylonitrile production Sales Growth ‐34%
• Signs of demand improvement in Volume 30%
Asia specific to acrylonitrile Price ‐64%
• Weak demand for melamine Currency 0
10
11. Financial Results
Second Quarter 2009
• Gross Margin (adjusted for special items) down 5.5% vs. Q208
– Low operating rates across Specialty Chemical and Engineered Material
plants
• Restructuring Charges totaling $34M in the quarter
– Mostly related to Specialty Chemicals; approximately $2M related to
Engineered Materials
– Cost reduction actions expected to achieve approximately $120M in
savings in 2009 and 2010
• Operating Expenses down approximately $20M year on year
11
12. Cash Flow
• Cash flow from operations was $168M in Q209 vs $44M in Q208
• Working Capital Improvement program demonstrating success
12
13. Balance Sheet
Capital Expenditures
• YTD 2009 was $116M
• Outlook for Full Year 2009 is estimated to be $180 to $190M
Enhancing Liquidity
• Overall debt decreased by $95 million in the quarter
• Balance on credit facility was $23 million at end of June, down from
$113 million at the end of March; plan to get to zero this year
Cash Conservation
• Completed 1.2 million shares of Cytec stock contribution to pension
plan
13
14. Debt Profile
Strong Balance Sheet
Long‐term Debt/Good Maturing Profile
(Pro forma June 30, 2009)
$400
Five-year
Amount Outstanding
Revolver -
$300
Can be prepaid
$200 with excess cash
any time prior to
maturity
$100
$0 Public Debt -
'09 '10 '11 '12 '13 '14 '15 '16 '17
Year
Investment Grade Rated by Moody’s and S&P
14
15. 2009 Outlook
Full Year Outlook (Millions)
Business Segment Operating Earnings Guidance
Coating Resins $(42) to $(50)
Additive Technologies $8 to $12
In Process Separation $32 to $40
Engineered Materials $100 to $105
Building Block Chemicals $5
Estimated full year adjusted EPS in a range of $0.60 to $0.90 per share
15
18. Appendix
Reconciliation of “Non GAAP” Measures to GAAP Measures
Management believes that net after tax earnings and diluted earnings per share before special items, and gross margins
adjusted for special items, which are non GAAP measures, are meaningful to investors because they provide a view of the
Company with respect to ongoing operations. Special items represent significant charges or credits that are important to
an understanding of the Company’s overall operating results in the periods presented. Such measurements are not
recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative
to GAAP measures of performance. The following table summarizes the net special items used to adjust reported net
earnings and diluted earnings per share and gross margins for the quarters ended June 30, 2009 and 2008.
Reported Non‐GAAP
Diluted (Loss) Diluted
Reported Net Net Special Non‐GAAP Net Special
Earnings Per Earnings per
(Loss)/Earnings Items Net Earnings Items
Period Share Share
Q209 $(24.8) $24.2 $(0.6) $(0.52) $0.51 $(0.01)
Q208 $56.5 $2.0 $58.5 $1.16 $0.04 $1.20
Period Reported Net Special Adjusted Reported Net Special Adjusted
Cost of Sales Items Cost of Sales Gross Margin Items Gross Margin
Q209 $603.0 (23.9) 579.1 82.3 23.9 106.2
Q208 $796.2 (3.0) 793.2 209.6 3.0 212.6
18