“The most recent EIA stock update gave something for both bulls and bears to cheer about,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd. in London. “As has become the norm, the fly in the ointment for bulls is the march higher in U.S. crude production.” U.S. gasoline inventories dropped by 1.22 million barrels to 229.9 million last week, the EIA reported Wednesday. Crude output increased by 26,000 barrels a day to 9.53 million, expanding for a second week. Click Read More below for additional detail.
Sun Chemical and its parent company, DIC Corporation, have acquired Luminescence Holdings Ltd., a manufacturer of currency, tax stamp, passports, ID cards, secure documents and brand protection inks for the security market.
With the acquisition of the United Kingdom-based company, Sun Chemical will increase its market share in the securities market. By combining Luminescence’s portfolio of products with Sun Chemical’s global reach, customers will benefit from a new truly global player. The acquisition creates an enormous growth platform for Sun Chemical in the $2.7 billion security ink market.
“Luminescence has a fantastic reputation in the security market for technology and service,” said Felipe Mellado, Chief Marketing Officer and Board Member. “Sun Chemical has the world’s largest research and development capabilities in the ink marketplace. What these two companies bring together is a truly exciting global supplier that will further strengthen our service to customers.”