Avery Dennison Acquires JDC Solutions
Industry Events
Avery Dennison has announced an agreement to acquire JDC Solutions, Inc., a privately-owned man- ufacturer of pressure-sensitive specialty tapes head- quartered in Mount Juliet,Tennessee, for the purchase price of $24 million. JDC employs approximately 75 employees located at its headquarters and manufacturing site in Tennessee, with approximately $30 million in annual revenue. JDC manufactures specialty tapes for use in a vari- ety of industrial applications, and reportedly has long- standing relationships with U.S. converters serving the automotive, consumer appliance, and building and construction industries, among others. Upon completion of the acquisition, JDC’s manufac- turing operations, workforce and product portfolio will become part of Avery Dennison’s Performance Tapes North America business. The acquisition is expected to close in Q1, subject to customary conditions and approvals. Siegwerk’s Raw Materials Supply Chain Under Pressure Ink manufacturer Siegwerk is facing increased pric- es on pigment raw materials, petrochemical price in- creases and supply constraints and higher freight costs due to the reduced availability of containers. Prices around the globe have seen sharp increases in the first quarter for pigment raw materials, including titanium dioxide (TiO2). Key drivers for the increas- es include: high demand across all industries, greater domestic supply requirements and broad demand pressures and higher costs.While the actual costs vary widely from region to region, higher than average per ton costs have been aggravated by significantly higher freight costs. Similar to pigments, petrochemical raw materials, which include UV resins, polyurethane resins, solvents and acrylic resins, have recently experienced higher prices beginning in Q2 2020.This is as a result of short- ages of epoxy resins,higher demand for polypropylene glycol in flexible foams and acrylic acids, among other things.All have seen increases at varying rates depend- ing on the location. In addition, due to the ongoing freight constraints, Siegwerk is experiencing longer delivery times and ongoing higher container shipping costs. The underlining issue affecting much of global commerce is the disruption in the world’s shipping trade due to the erratic business requirements which the Coronavirus pandemic has created for internation- al customers.
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