Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should remain, Iraqi Oil Minister Jabbar al-Luaibi said Saturday. Yet, Brent crude at $70 a barrel may be giving fresh stimulus to U.S. shale-oil drillers to boost output, according to the International Energy Agency. Oil has extended gains after a second annual advance as the Organization of Petroleum Exporting Countries and its allies curb supply to drain a global glut. Though they have said the historic deal will run until the end of this year, OPEC is “very likely to cut short” the pact if markets become balanced, JP Morgan Securities said in a report. Click Read More below for additional information.
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.”