Valspar signs deal with Maersk
Valspar has agreed to provide its Aquaguard waterborne coating for Maersk Container Industry’s shipping containers via a long-term supply agreement.
“Maersk is a global leader in container-industry sustainability, and we are privileged to partner with them on this innovative coatings solution,” said Roeland Polet, Valspar SVP, Global Industrial. “This is an important step, and we proudly put our 60-plus years of waterborne coatings expertise forward as a cost-effective, sustainable solution.”
Per the agreement, Maersk will cease the use of high-VOC solvent borne coatings for shipping containers manufactured in Dongguan, China and use Aquaguard in their place. The company intends to go 100% waterborne eventually.
“We are very pleased to work with Valspar in this industry-changing effort,” said Irving A. Hultengren, managing director at MCI in Dongguan. “Our agreement with Valspar reinforces our commitment to building more sustainable containers. By using Valspar’s innovative waterborne coating system, we will help our customers and reduce the environmental footprint of our production.”
According to the company, Valspar Aquaguard reduces VOC emissions by 94%, as well as improves corrosion performance and reduces energy use.
Valspar conducted field tests for multiple years prior to qualifying, during which the company produced several dry van shipping containers with third-party manufacturers. Production is planned for sometime in 2014.
LP taps M.J. Palmiere to head Canadian OSB operations
Louisiana-Pacific Corporation has appointed M.J. "Mac" Palmiere as oriented strand board regional operations manager for Canada, effective Dec. 2.
"We are very fortunate to have someone of Mac’s caliber and experience join the LP team at a time when our Canadian operations are becoming an even more important part of our business," EVP OSB Jeff Wagner said. "Mac has more than 26 years of experience in the forest industry, 16 of them in management, from mill manager to president and CEO."
In his new role, Palmiere will head the company’s OSB operations in Canada and will be the senior operations leader in the Vancouver office following the completion of the Ainsworth acquisition, which was recently stalled by the Department of Justice via an extended antitrust waiting period.
Previously, Palmiere was president and CEO of Howe Sound Pulp and Paper in British Columbia. His resume also includes a stint as regional manager and VP operations at Canfor.
Palmiere served on the board of directors of Peace Valley OSB during his time with Canfor, which is a joint venture between LP and Canfor that was purchased by LP earlier this year.
LP-Ainsworth deal gets more scrutiny
The U.S. Department of Justice extended the waiting period for Louisiana-Pacific Corp.’s planned acquisition of Ainsworth Lumber Co., requesting additional information from the two companies.
Once they’ve complied with the request, which were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the companies will have to wait 30 days before the transaction closes. The antitrust waiting period may change if the companies voluntarily extend it, or if the Department of Justice terminates it earlier.
LP announced the $1.1 billion deal in September. CEO Curt Stevens said the deal will help LP make the most of the housing recovery by leveraging Ainsworth’s resources and access to international growth markets.
Pending U.S. and Canadian regulatory approval, the transaction is slated to close in the first quarter of 2014.