Specialists in CUSTOM MADE WAXES 2009 MISSION SER is a European producer of industrial waxes formulated on a made-to-order basis to satisfy customers’ needs. The knowledge and experience in this field aquired since 1988, has led to ascertain that the use of custom-made industrial waxes allows the customer to: • Improve productivity • Improve quality • Reduce anomalies in both the finished product and its waste • Increase the range of tolerance in both the production process and other raw materials that are used • Improve environmental friendliness and work safety A tight and on-going co-operation is established with clientele, with the aim of always offering the most suitable product for any need and adapting it to any technological evolution in production methods as they are adopted. SER’s industrial plant has been conceived and planned specifically for this mission. Dynamism, flexibility, high professionalism, propensity to accept technological challenges, speed of execution and a collaborative spirit are the characteristics of every SER department: from Commercial Organisation highly specialised in customer support, to Research and Development able to propose up-to-date and innovative formulations, to Production with its completely computerised processes, up to Logistics able to work faster than the market average. SER is a producer of customized waxes and paraffins and is therefore able to operate best in the raw and semi-finished wax markets, offe products which, beside being the best suited for all requirements, are price competitive. The final goal is the customer’s success, which SER contributes to with high value-added products. Finally SER holds ethic, moral and social values into great consideration, thus acting in respect of : • the people working in the company • the environment, considered as a common good worthy of protection • safety, both in its own and clients’ workplace Regarding this last point, SER often achieves better scores than the limits established by the present legislation. MISSION 1/1 2009 GENERAL INFORMATION ABOUT WAX The term wax indicates an organic, natural or synthetic plastic like substance, which is solid at room temperature and turns into liquid when heated; it is also possible to deform a wax without heating it but simply through pressure. Characteristics common to all types of wax: • Solid state at 20°C (even if its consistency can vary from soft and plastic to hard and brittle) • Liquid state over 40°C (without altering its chemical composition) • Relatively low viscosity, just above the melting point • Combustible (producing a yellow flame) • Low thermal and electrical conductivity • Impermeable and insoluble in water • Able to form pastes or gels through the dispersion in solvents Types of waxes: With technological evolution the products called wax have multiplied, showing different chemical compositions as well as a variety of properties. As a general rule, wax classification is determined by the origin: Natural Waxes: • Animal (beeswax, lanolin, tallow) • Vegetable (carnauba, candelilla) • Fossil or mineral (ceresin, montan, ozokerite) • Petroleum (paraffin, microcrystalline, petrolatum) Synthetic waxes: • Ethylenic polymers (polyethylene and polyol ether-esters) • Chrlorinated naphtalenes • Fischer-Tropsch Wax Petroleum waxes: The crude oil drawn from the earth is a mixture of various hydrocarbons and is the result of decomposed aquatic plants and animals that lived in the oceans millions of years ago. After being taken to the refinery, the crude oil is then processed through complex methods in order to obtain a variety of finished products. One of these derivatives is lubricating oil. From its refining process waxes are obtained. They can be divided into three categories: • Paraffin waxes • Microcrystalline waxes • Petrolatums GENERAL INFORMATION ABOUT WAX 1/2 2009 GENERAL INFORMATION ABOUT WAX Paraffin Waxes: Obtained from the light lubricating oil distillates and composed of around 90% straight-chain hydrocarbons (20 to 30 carbon atoms). Their properties include: • good impermeability • non-toxicity • no reactivity to other components • clean burning • non-coloured aspect Microcrystalline waxes: Obtained through mixing heavy lubricant oil distillates and residual oils, these waxes have a loosely defined crystalline structure, a darker colour and generally have a higher melting point and viscosity than paraffins. The physical characteristics vary drastically according to the percentage of the various elements it is composed of: from soft and sticky to hard and brittle. Petrolatums: Obtained through lubricant oil heavy residue filtering (or centrifuging) process, these waxes are microcrystalline in nature and semi-solid at room temperature. Finally, another method normally used to define petroleum waxes is to classify them according to the oil content. Also in this case waxes are conventionally divided into three categories: • Slack Wax (oil content variable from 3% to 50%) • Semi-refined paraffin wax (oil content variable from 1% to 3%) • FRP (fully refined paraffin wax) (oil content below 0.5%) GENERAL INFORMATION ABOUT WAX 2/2 2009 WAX APPLICATIONS At home, at the office, at school and on the street, everywhere we are surrounded by products or goods that benefit either directly or indirectly from the use of wax in their manufacturing process. If this is evident when we speak about candles, matches or polishes for various surfaces, it is less clear instead when we refer to pencils, precasts, tyres, pharmaceutical products, cosmetics, electrical cables, packaging, textiles, food packaging, explosives, fireworks, paints, plastics, sinters, chewing gum and so on. Furthermore, every company, even those operating in the same manufacturing sector, uses raw materials and production facilities which can be from slightly to highly different from their competitors’, with consequent different waxes used for similar applications. It is possible to recognise three different functions of wax in product manufacturing; Wax can be: • One of the raw materials that makes up the finished product (an obvious example is given by candles) • An aid which assists in product manufacturing (wax helps, for example, mould separation). • An additive which gives or improves the characteristics of the finished product (for example in providing tyres with greater resistance to ozone and ultraviolet rays). WAX APPLICATIONS 1/2 2009 WAX APPLICATIONS A short list exemplifying some of the various applications Since it is practically impossible to mention all the various applications a wax can be used for, here below we have listed the most typical ones. APPLICATION USE OF WAX ADHESIVES AND GLUES regulates viscosity, flow and setting time ASPHALTS AND BITUMENS regulates density and augments longevity WOODEN BARRELS AND CONTAINERS the internal surface coating prevents the wood from being penetrated by its content CANDLES base component, fuel for controlled combustion FOOD WRAPPERS prevents leakage, protects from dehydration ELECTRICAL CABLES fills gaps between sheathing and conductors to prevent infiltration of liquids FIRELOGS binding agent for wood particles, assists a long controlled combustion HOT MELT ADHESIVES regulates melting temperature and "set time" properties, gives flexibility CONSTRUCTIONS AND PRECASTS increases waterproofing and thermal isolation PHARMACEUTICALS AND COSMETICS external protection, regulates density, a component in ointments, regulates delayed release of active ingredients FERTILISERS AND PARASITICIDES inhibits clumping, regulates controlled release rate of active ingredients CHEESES external protection, prevents dehydration and controls ageing FRUITS polishing to improve aspect CHEWING GUM regulates “chewability” GASKETS AND WASHERS allows easy assembly and disassembly, makes a good plastic sealing for natural gas tubing CARDBOARD PACKAGING provides consistency and protection from humidity, renders external surface brighter DENTAL MOULDS regulates setting time PRINTING INKS reduces wear, controls ink slipping, acts as a vehicle for pigments and additives. RUBBER INDUSTRY provides protection against ageing and atmospheric agents. METAL WORKING lubricant, protective barrier DRY LUBRICANTS a substitute for oil and grease in dusty environments POLISHES Improves gloss of any surface (wood, metal, floors, glass, etc.) CRAYONS AND WAX PASTELS vehicle for pigments, regulates hardness TIMBER INDUSTRY waterproofing, provides flexibility and consistency SINTERS (METAL OR CERAMIC) enables particle cohesion CORKS gives better slipping, protects from oxidisation TEXTILES reinforces, provides waterproofing, improves tactile and visual aspect PAINTS AND COATINGS regulates viscosity, slipping and improves exterior aspect WINES protects from oxidisation remaining on the surface WAX APPLICATIONS 2/2 2009 C38 1001038 350550 120% 100% 80% 60% 40% 20% DATA AND STATISTICS 0% SER attained the following results: Revenues 2010 91.200.000 Euro Revenues 2009 61.200.000 Euro +49.0% compared to 2009 A comparison between the market data and SER’s results shows that the company is improving its market share thanks to its commercial strategy which focuses on business-to-business, instead of business-to-market relationships. 1. 2010 results, therefore, confirm the historic trend that shows SER’s continual and vigorous growth. 70000 THOUSANDS EURO 60000 50000 40000 30000 20000 10000 0 1994 3.053 1995 5.383 1996 7.489 DATA AND STATISTICS 1/3 1997 1998 1999 12.349 10.975 12.379 2000 2001 2002 2003 2004 2005 2006 2007 2008 17.679 23.594 33.275 37.340 43.433 50.601 53.332 54.342 62.515 2009 fore cast 60.500 2009 C38 1001038 350550 120% 100% 80% 60% 40% 20% DATA AND STATISTICS 0% 2. Since 1992 SER has increased its revenues consistently every three years. 130% 120% 100% 80% 60% 40% 20% 0% 1995/1992 113% 1998/1995 104% 2001/1998 115% 2004/2001 100% 2007/2004 60% 3. Along with a constant increase in the number of clients, it is possible to notice an analogous increase in the number of active products (those regularly delivered): this confirms SER’s strategy of supplying every client with the most suitable wax for every application. 800 700 600 500 400 300 200 100 0 1998 active products active customers DATA AND STATISTICS 2/3 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 639 614 649 662 639 642 711 742 708 692 714 2009 C38 1001038 350550 120% 100% 80% 60% 40% 20% DATA AND STATISTICS 0% METRIC TONS/YEAR 4. Volumes produced, shown in metric tons, demonstrate a growth parallel with turnover. Production (TM/Year) 2009 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 fore cast 19.000 22.844 35.558 47.015 68.188 80.002 73.303 79.414 75.391 74.485 70.036 73.000 DATA AND STATISTICS 3/3 2009 RESEARCH AND DEVELOPMENT SER’s Research and Development department represents the heart and mind of the company. For this reason R&D bases its work on a few unavoidable requirements: • Personnel’s high level of professionalism • Great experience acquired over many years in the business and research in this field • Instruments on the cutting edge of technology • Complete computerisation of the activity • Planning and definition, not only of clients’ formulations, but also of all the parameters involved in wax production. Responsibility and activities of Research and Development • Determining and defining, with the client, the needs that the product must satisfy • Formulating the wax and ascertaining its production process. (a contribution in equal parts is given both by learned experience and formulations already developed and stored into the database). • Producing samples for the client to run tests on • Further repetition of the above steps until finalising a product that completely satisfies the client. • Inserting the final data of the wax into the server’s memory: thanks to this, every time a client makes a new order, every parameter of the process (temperature, pressure, speed, time, homogenisation, etc) will remain unvaried and the absolute consistency in production, precision of composition and quality of the product will be guaranteed. Advantages Thanks to its method of operation, SER allows the client to: • Have a customised wax at its disposal • Have the same quality guaranteed as in a highly automated production line series • Buy at reasonable prices since there are no costs from manual and off-line operations. RESEARCH AND DEVELOPMENT 1/1 2009 PRODUCTION SER produces customised wax, made to order for the widest possible applications according to every customer's specific need. Thanks to production facilities designed and built on purpose, it is indeed possible to produce daily many different waxes, completely automatically always respecting the best quality . Product memorisation: For every client the R&D Department identifies the ideal product in terms of components and production parameters. These figures are then inserted into the central computer’s database where they remain stored in the memory. In this way every time that a client requires a new supply it will be enough to insert the client/product code, the requested quantity and the delivery date. The production system will automatically be programmed for the production of that specific wax and the delivery to the client. Besides, the completely automated execution of the entire operation and the absence of a warehouse for finished products allows a remarkable cost reduction and make it possible to offer customised waxes at competitive prices. Production process and production facilities: Raw materials are purchased according to what indicated by the product database in terms of statistical and/or programmed consumption: in this way it is always possible to fulfil clients' orders on time, even when urgent requests are involved. Storaging facilities consist of 66 tanks, with monitored temperature and level, and are kept under control by video cameras and security devices. The total capacity is 15,000 cubic meters of liquid wax while the warehouse has a capacity of 5,000 tonnes of solid waxes. The tanks and smelters (where the solid raw materials are melted) are connected to the production system by pumps and meters that automatically measure the weight of the pumped liquid wax. A specific station is used to mix in any additives that may be required. The central computer sends all the instructions to the production system to guarantee that the blend is done correctly. Finally, a sample of the product is taken and sent to the Quality Control Dept. to verify, in real time, that specifications and properties of the product match those agreed upon with the client. PRODUCTION 1/2 2009 PRODUCTION Finished product options: After the OK from the Quality Control Dept, the liquid wax is transformed into its final state. This can be: • liquid (stored in a tank, to be collected by tank-trucks) • emulsion (stored in tanks or drums) • pellets (packaged in 25 kg bags or Big Bags from 300 to 2000 kgs) • slabs (packed in 24 kg carton-boxes containing 5 slabs each, or placed on pallets) • others (previously agreed upon with the client) Production capacity and delivery: SER produces only upon order , and for every client realizes a specific wax which is fundamental to that client’s business. This means that deliveries have to take place within a very short time and the production facilities must be able to adequately perform. SER, by continuously expanding its production facilities, maintains a manufacturing capacity at around the double of the daily delivery average. In this way pick of demand can be satisfied with regularity, guaranteeing a first-rate service. Quality through detail: Pig-in Every day many waxes, each one different from the other, are sequentially produced for various clients. To avoid that the residue from a previously produced wax may contaminate the next one, production facilities are equipped with a so-called Pig-in system (literally "pig inside"). At the end of every production cycle, in fact, a device introduces a nose-cone made of elastic material into the relevant pipe and this is then pushed through the pipe itself by means of compressed air. The nose-cone adheres perfectly to the pipe walls and, like a bullet, wipes and cleans the pipe to a mirror finish. So, the next wax in line will be free from of any contamination. Weight measurement instruments Due both to the different specific weights of the various raw materials and the tolerances for temperature and pressure, the measuring of volumes does not guarantee an adequate precision in the final blending. Instead, SER’s facilities are equipped with meaters to measure the weight of the pumped liquid, such as to guarantee an absolute precision and quality of the manufactured wax. PRODUCTION 2/2 2009 PRODUCTS SER is an independent producer of industrial waxes which are made to order based on clients’ processings, industrial facilities, final quality wished, environmental impact and work safety. Therefore, there is no product catalogue where to look for a wax that roughly corresponds to clients’ needs, trying to convince them that this is the best that can be hoped for. Instead a specialised free consultation is proposed so as to realise a product that is actually able to optimise their production cycle, reducing overall costs through better productivity, less waste and, last but not least, higher quality. Furthermore, it is also possible that, among the 500 formulations already designed and produced regularly for one or more of the 800 companies SER supplies, a new customer will find its own ideal wax. Otherwise, the Research and Development department, possessing some of the most modern equipments and made up of highly qualified personnel, will definitely be able to propose both previously tested solutions and newly conceived products. By using every kind of waxes, natural or synthetic, paraffin or microcrystalline, Fischer Tropsch or polyethylenic, either liquid or solid, in emulsion or gel, SER has successfully served many application fields. Here below the more significant ones are listed, but the company continuously faces challenges in new applications. FIELD APPLICATIONS FOOD CHEESES / CHEWING GUMS /WINES PACKAGING FLEXIBLE / CORRUGATED AND SOLID RUBBER TYRES / TECHNICAL ARTICLES CANDLES ALL KINDS COSMETICS & PHARMACEUTICALS HISTOLOGY DEPILATORY / CERESINE OZOKERITE CHEMISTRY & TECHNIQUE THERMOSTATS / ELECTRICAL CABLE FILLING / POLYMER PROCESSING HOT MELT ADHESIVES / INKS / PAINTS / COATINGS TEXTILE WATERPROOF JACKETS WOOD AND TIMBER INDUSTRY CHIPBOARDS / MDF and OSB CONSTRUCTIONS AND PRECASTS GIPSBOARD PRODUCTS 1/1 2009 QUALITY SER is an ISO 9001 company (VISION 2000 version), certified by the German TUV, one of the highest qualified and most rigorous auditors. A Company’s ISO 9000 certification represents an important guarantee for the client. Adhering to the certification means that the company establishes quality targets it wants to reach and that it is organised and structured in order to keep product quality under control consistently and correctly. Moreover SER operates according to criteria of total quality and: • guarantees that the characteristics of a custom wax will be exactly the same for every delivery, and tests the quality agreed with the buyer, in order to avoid problems connected with tolerances. (Indeed SER produces for the customer and not for its own stock) • assures that the customer is always followed by specialised and responsible members of its technical and commercial staff. • involves itself and do its best to solve even customers’ problems connected with urgent deliveries. In short, for SER, QUALITY means taking the utmost care in offering the best of products, services and attention all together to customers. QUALITY 1/1 2009 PRICES SER is able to offer products that have the same functional characteristics of those presently used, often at a more competitive price. However, SER does not concentrate its attention and effort to be competitive on price only. Its real goal, instead, is rather to produce the best wax for every client without lacunas or redundancies. In all probability, the use of a standard wax (that is a wax from catalogue) means accepting a series of compromises in: • the price (when a customer is forced to choose a wax with higher specifications than what actually needed and consequently pay a higher price). • the quality (often, with standard products, a customer must be satisfied with the next best thing instead of the ideal wax with a consequent lower quality of his own end product). • the final cost of customers’ own products (a wax, chosen as the best among others available, may not be completely adequate for a certain production cycle, and may cause inefficiency in production). Clients have often saved money directly on the purchasing costs of a SER wax; however, in other cases they have obtained even more evident economic advantages on total costs despite having decided on a more expensive wax. In short, SER waxes represent the best value for money. PRICES 1/1 2009 HISTORY After finishing their studies in chemistry, Giuseppe and Piergiorgio Ambroggio brothers join the staff at Ing. Piacentini e F.lli S.p.A. in Turin. It is 1982 and the Piacentini company has been a leader in industrial wax market in Italy since 1946, with a healthy penetration in domestic and international markets. The Ambroggio brothers develop a good experience and deep knowledge of the problems linked to the use of wax in the various industrial applications. After six years of active collaboration, they prepare and propose a plan to develop new activities oriented in customising products for the customers. The Piacentini management, while appreciating their ideas, decides not to adopt the plan. Consequently, in 1988, the Ambroggio brothers with other members of their family, decide to found a new company in Cumiana (TO) named SINTESI e RICERCA. The name already encompasses the intention and spirit that will characterise the business in the following years: plan and produce specific products for every client, investing on the ability to propose wax of high added value for individual companies instead of standard products, i.e. business to business instead of business to market. The strategy proves to be a success and the company doubles its revenues every three years. Company growth is constant and the Cumiana production facilities become inadequate. Sintesi e Ricerca offer Ing. Piacentini e F.lli S.p.A., first to become the majority shareholders, then to buy all the company’s shares. In 1994 the deal is concluded and the merger between the two companies results in SER S.p.A., located in Santena (TO). In the following years significant investments are made for a complete restructuring of the production facilities, warehouse, offices, etc., in order to adapt the company structure to the intended mission. In Summer 2003, SER acquires CERERIA SGARBI S.p.A. and PRICE'S PATENT CANDLES Ltd, two major candlemakers in the European market, leaders respectively in Italy and United Kingdom. The target of the group is to create a prestigious, quality candle brand of international repute. Today SER S.p.A. is a solid industrial reality that is succeeding thanks to its strategy and to its facilities which allow to realize the strategy at the best. HISTORY 1/1 2009 THE SER GROUP In Summer 2003, SER acquires CERERIA SGARBI S.p.A. and PRICE'S PATENT CANDLES Ltd, two major candlemakers in the European market, leaders respectively in Italy and United Kingdom. The target of the group is to create a prestigious, quality candle brand of international repute. THE SER GROUP 1/1 2009 CONTACTS Mail Address SER S.p.A. Strada Quaglia n° 26 - 10026 Santena (TO) - Italy Telephone +39 011 945 55 11 Fax +39 011 945 55 66 E-mail [email protected] Internet www.cere.it Airport Turin Caselle Airport Railway station Santena (TO) or TURIN (30 Kms far from) Caselle Chivasso Cocconato Gallareto Chieri Moncalieri 89 3 S2 S 20 S None Carignano Airasca Vigone Poirino 9 S. Damiano d’Asti Carmagnola 4 S 20 Villafranca Piemonte 70 Asti S2 Pancalieri 58 S4 A 21 - E 29 E7 S5 10 Rivoli 58 S4 TORINO S Orbassano 9 Brusasco Settimo To. GassinoTo. Venaria Almese Alpignano S 58 MILANO S 590 Costiglione Racconigi gno CONTACTS 1/1 Via S Via As ti an S Via Cir c SP 12 2 ellea Martiri Libertà ia à le Agostino ch alv Strada Quaglia Bri Via D Via Tetti Sa nS ni Via Sa ti uy mb Via Via As Vi Via A m Vesp erigo ucci Via Via Cabo to A 21 / E 70 EXIT aV ec A 55 / E 70 Via Tet ti alvà Tetti Agostino Via S Ago an Sa stin lvà o 2009
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