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January 30, 2015
Solvay announced today that it has agreed to sell its German-based refrigerant business and pharma propellants to Daikin. The move forms part of Solvay’s special chemicals global...
http://www.chemweek.com/home/top_of_the_news/Solvay-divests-German-refrigerant-business-to-Daikin_67348.html
January 30, 2015
An escalation in styrene spot prices in Europe has opened an arbitrage into Europe from the United States, just days after Europe looked to have finished clearing out a stock-overhang...
http://www.chemweek.com/home/top_of_the_news/Higher-styrene-prices-in-Europe-open-arbitrage-window-from-US_67363.html
January 30, 2015
Tokuyama (Tokyo) reports a net loss of ¥78.9 billion ($672.3 million) in the fiscal first nine months ended 31 December 2014 compared with a net profit of ¥7.49 billion in that...
http://www.chemweek.com/home/top_of_the_news/Tokuyama-reports-huge-loss_67347.html
January 30, 2015
Japan's exports of major aromatics products mostly fell in 2014, according to statistics released by the Ministry of Finance (Tokyo). Exports of para-xylene (p-xylene) were 2.40...
http://www.chemweek.com/home/top_of_the_news/Japans-exports-of-p-xylene-benzene-declined-in-2014-toluene-mixed-xylene-exports-up_67345.html
January 30, 2015
Higher volumes and an advantaged feedstock position helped lift Dow’s fourth-quarter earnings above estimates. Net income fell 18.4% year-on-year, to $839 million. Adjusted...
http://www.chemweek.com/home/top_of_the_news/Dow-blows-past-estimates-says-lower-oil-prices-good-for-global-economy_67316.html
January 30, 2015
Former presidential candidate and Massachusetts governor Mitt Romney told American Cleaning Institute convention attendees on 29 January that Washington needs to address three critical priorities to maintain America’s global leadership position: safety, creating opportunity, and lifting people out of poverty....
http://www.chemweek.com/home/top_of_the_news/Mitt-Romney-outlines-policy-priorities-at-ACI-convention_67344.html
January 30, 2015
SC Johnson chairman and CEO Fisk Johnson says industry must take steps to rebuild public trust while “standing up for chemistry, for scientific truth, and for the health and wellness of consumers and the planet.”...
http://www.chemweek.com/home/top_of_the_news/ACI-2015-SC-Johnson-CEO-says-industry-must-rebuild-consumer-trust_67361.html
January 30, 2015
BP is the latest oil company to announce layoffs this week as a result of declining prices. The company says there have been staff reductions at its US headquarters in Houston, and...
http://www.chemweek.com/home/top_of_the_news/BP-confirms-layoffs-at-US-headquarters_67337.html
January 30, 2015
NewMarket reports net income for the fourth quarter of $52 million, down 4% year-over-year (YOY) from $54 million. Sales totaled $548 million, down 1% YOY from $554 million. Adjusted earnings of $4.30/share beat the analysts’ consensus of $3.92 as compiled by Thomson Reuters (New York)....
http://www.chemweek.com/home/top_of_the_news/NewMarket-net-income-down-4-percent-beats-estimates_67338.html
January 30, 2015
Phillips 66 reports that its chemical segment, a 50% equity investment in Chevron Phillips Chemical (CPChem; The Woodlands, TX), turned in fourth-quarter earnings of $267 million, up 2% year-over-year (YOY) from $261 million as a boost from the specialties, aromatics & styrenics (SA&S) business compensated for a decline in olefins & polyolefins (O&P)....
http://www.chemweek.com/home/top_of_the_news/Phillips-66-chemical-earnings-up-2-percent-on-stronger-specialties-aromatics-and-styrenics-business_67333.html
January 30, 2015
Enterprise Products Partners reports net income for the fourth quarter of $681 million, down 4% year-over-year (YOY) from $706 million. Sales totaled $10.2 billion, down 22% YOY from $13.1 billion. Earnings of 34 cents/share fell short of the analysts’ consensus of 37 cents/share as compiled by Thomson Reuters (New York)....
http://www.chemweek.com/home/top_of_the_news/Enterprise-misses-estimates-as-net-income-drops-4-percent_67318.html
January 30, 2015
Methanex reports net income for the fourth quarter of $133 million, up 4% year-over-year (YOY) from $128 million. Sales totaled $733 million, down 17% YOY from $881 million. Adjusted earnings of 85 cents/share fell short of the analysts’ consensus estimate of 95 cents/share as compiled by Thomson Reuters (New York)....
http://www.chemweek.com/home/top_of_the_news/Methanex-earnings-up-4-percent-but-short-of-estimates-on-pricing_67321.html
January 30, 2015
OxyChem, the chemical segment of Occidental Petroleum, has reported pre-tax earnings for the fourth quarter of $160 million, up 25% year-on-year from $128 million. The company attributes the gain to higher margins for polyvinyl chloride (PVC), the result primarily of higher PVC pricing, and improved volumes for most product lines, partially offset by lower caustic soda pricing....
http://www.chemweek.com/home/top_of_the_news/OxyChem-earnings-up-25-percent-on-PVC-margins_67319.html
January 29, 2015
David Lumpkins has joined the board of directors of Westlake Chemical Partners’ general partner. Westlake Chemical Partners (Houston) is the master limited partnership formed by Westlake Chemical to operate, acquire and develop ethylene production facilities....
http://www.chemweek.com/home/top_of_the_news/David-Lumpkins-joins-board-of-Westlakes-ethylene-MLP_67334.html
January 29, 2015
Galmed Pharmaceuticals (Tel Aviv), a company focused on developing and commercializing a once-daily, oral medication to treat liver diseases and cholesterol gallstones, says that it...
http://www.chemweek.com/home/top_of_the_news/Galmed-and-Perrigo-sign-API-manufacturing-deal_67309.html
January 29, 2015
Royal Dutch Shell says that it is curtailing its group-wide investment by $15.0 billion over the next three years because of falling oil prices. Organic investment is expected to be...
http://www.chemweek.com/home/top_of_the_news/Shell-to-curtail-spending-by-$15-billion-over-next-three-years-chemical-earnings-slide-on-Moerdijk-shutdowns_67308.html
January 29, 2015
Modernization of the Toxic Substances Control Act (TSCA), the chemicals management law in the United States, was a major topic at Wednesday’s ACI issues briefing, held during...
http://www.chemweek.com/home/top_of_the_news/ACI-2015-TSCA-reform-tops-regulatory-agenda_67323.html
January 29, 2015
The European Commission said on Wednesday that it has cleared both GlaxoSmithKline's (GSK) proposed acquisition of Novartis's vaccines business and the proposed creation of...
http://www.chemweek.com/home/top_of_the_news/EU-conditionally-approves-GSK-Novartis-deals_67307.html
January 29, 2015
Stolt-Nielsen says its fourth-quarter 2014 net profit attributable to shareholders plunged to $13 million from $35 million in the corresponding quarter of 2013, on revenue of $532...
http://www.chemweek.com/home/top_of_the_news/Stolt-Nielsen-posts-fourth-quarter-profit-decline-lower-fuel-costs-to-boost-earnings-this-year_67320.html
January 29, 2015
Air Products raised the lower end of its guidance range for fiscal 2015 to $6.35-$6.55/share, up from the $6.30-$6.55/share range set in October....
http://www.chemweek.com/home/top_of_the_news/Air-Products-beats-estimates-with-17-percent-earnings-gain_67314.html
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