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April 02, 2015 4:53 AM ET

Chemicals

Company Overview of MacDermid, Incorporated

Company Overview

MacDermid, Incorporated develops, produces, and markets a range of specialty chemical and printing products in the Americas, Asia, and Europe. The company provides plating products, which are used to plate holes drilled through printed circuit boards; circuit formation products to promote adhesion and form circuit patterns oxides; functional conversion coatings for industrial applications; final finishes, which are used on printed circuit boards; electroless nickel products that are applied to metal and plastic surfaces; and oxides, which are conversion coatings used in the fabrication of multilayer circuit boards. It also offers decorative plating products that are used to provide mirror-li...

245 Freight Street

Waterbury, CT 06702

United States

Founded in 2013

Phone:

203-575-5850

Key Executives for MacDermid, Incorporated

President
Vice President, General Counsel and Corporate Secretary of Platform
Age: 51
Executive Vice President of Advanced Surface Finishing and Printing Solutions Asia
Executive Vice President
Vice President of Business Development - MacDermid Offshore Solutions
Compensation as of Fiscal Year 2014.

MacDermid, Incorporated Key Developments

MacDermid, Incorporated Announces Board Changes, Effective February 20, 2015

MacDermid, Incorporated announced the promotion of Scot Benson to the role of president of MacDermid, effective February 20, 2015. In his new capacity, Benson will have global responsibility for all MacDermid's operations consisting of Performance Materials and Graphic Solutions, including the Offshore Solutions and Autotype businesses. Benson will report to Wayne Hewett, newly-appointed president of platform. Benson has had a distinguished 16-year tenure, most recently as group president of Advance Surface Finishing (ASF) and Printing Solutions. Benson assumes the responsibility from Daniel H. Leever who led MacDermid for 25 years. The company also announced the retirement of Mark Hollinger.

Platform Specialty Products Corporation and MacDermid, Incorporated Enter into Second Amended and Restated Credit Agreement Agreement

On October 1, 2014, Platform Specialty Products Corporation, MacDermid, Incorporated and together with Platform, MacDermid Holdings, LLC, certain subsidiaries of Holdings and Platform party thereto, Barclays Bank PLC, as collateral agent and administrative agent and the lenders party thereto, entered into an incremental amendment to that certain second amended and restated credit agreement dated as of August 6, 2014 among the Borrowers, the Agent, the lending institutions from time to time parties thereto and the other agents and entities party thereto. The Credit Agreement, as amended by the Incremental Amendment, provides for a senior secured credit facility consisting of U.S. Dollar term loans in an aggregate principal amount of $1,055 million, a U.S. Dollar revolving credit facility in an aggregate principal amount of $25 million, and a multi-currency revolving credit facility in an aggregate principal amount of $25 million. Except as in the Incremental Amendment, the New USD Term Loans have identical terms as the Existing Term Loans, including a maturity date of June 7, 2020. Holdings and certain restricted subsidiaries of the Borrowers and Holdings acting as guarantors under the Credit Agreement will guarantee the Borrowers' obligations under the New USD Term Loans. The New USD Term Loans will also be secured by the collateral pledged by the Borrowers and the Guarantors under the Security Agreement.

Platform Specialty Products Corporation Reports Consolidated Earnings Results for the Full Year Ended December 31, 2013

Platform Specialty Products Corporation reported consolidated earnings results for the full year ended December 31, 2013. For the year, the company reported net cash flows provided by operating activities were $7.410 million against $75.176 million a year ago. Capital expenditures were $2.263 million against $13.399 million a year ago. Net sales were $118.239 million against $731.220 million a year ago. Operating loss was $195.632 million against profit of $115.097 million a year ago. Loss from continuing operations before income taxes, non-controlling interest and accumulated payment-in-kind dividend on cumulative preferred shares was $201.444 million against income of $70.939 million a year ago. Net loss attributable to common shares Shareholders was $194.222 million or $2.10 diluted per share against income of $45.977 million a year ago. On a combined basis, Platform reported net sales of $746.0 million for the full year 2013, representing 2.0% organic growth compared to $731.2 million in net sales for MacDermid in 2012, driven mainly by growth in the Performance Materials segment. Net sales to targeted strategic end markets, which represent upstream opportunities in current markets or opportunities to enter markets adjacent to those Platform currently serves, were approximately 10% of combined net sales for 2013. Combined net loss was $181.0 million for the year ended 2013 compared to net income of $46.0 million in 2012. On a combined basis, as adjusted earnings per diluted share for 2013 was $0.68. Combined as adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the full year 2013 was $180.1 million, up 11% compared to the Predecessor's adjusted EBITDA of $162.4 million in 2012. On non-GAAP basis, net loss was $181.0 million against income of $46.0 million a year ago. Adjusted EBITDA was $180.1 million against $162.4 million a year ago. Gross capital expenditures were $10.8 million against $13.4 million a year ago. Net sales were $745.951 million against $731.220 million a year ago. Operating loss was $103.885 million against profit of $147.897 million a year ago. Loss from continuing operations before income taxes, non-controlling interest and accumulated payment-in-kind dividend on cumulative preferred shares was $174.969 million against profit of $116.876 million a year ago. Net loss attributable to common shares Shareholders was $181.003 million or $1.96 diluted per share against profit of $78.018 million a year ago.

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