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November 14, 2014
Carbon black maker Orion Engineered Carbons (Luxembourg) reports a loss of €40.8 million, down from a €5.5 million gain in the year-ago quarter. The loss includes...
http://www.chemweek.com/home/top_of_the_news/Orion-reports-lower-sales-due-to-oil-price-impacts_65448.html
November 14, 2014
Ashland announced today that its board has elected William Wulfsohn to be chairman and CEO, effective 1 January 2015. Wulfsohn replaces James O’Brien, who is retiring after 12...
http://www.chemweek.com/home/top_of_the_news/Ashland-names-new-CEO_65450.html
November 14, 2014
ENI today signed an agreement to restructure the petrochemical complex at Porto Marghera, near Venice, operated by ENI’s chemical subsidiary Versalis. The agreement follows the...
http://www.chemweek.com/home/top_of_the_news/ENI-signs-agreement-with-unions-to-restructure-Porto-Marghera-complex_65446.html
November 14, 2014
US-President Obama has announced an ambitious 2025 target to cut net US greenhouse gas (GHG) emissions to 26–28% below 2005 levels by 2025. At the same time, President Xi Jinping...
http://www.chemweek.com/home/top_of_the_news/US-China-agree-on-joint-efforts-on-climate-change-clean-energy_65368.html
November 14, 2014
The European Fluorocarbons Technical Committee (EFCTC), part of Cefic, says it encourages parties to the Montreal Protocol to reach an agreement for a global cap and a reduction in the...
http://www.chemweek.com/home/top_of_the_news/European-HFC-producers-support-action-for-a-cap-and-reduction_65433.html
November 14, 2014
Arkema today reported third-quarter sales of €1.478 billion ($1.840 billion), compared with €1.495 billion in the year-ago quarter, a decline of 1.1%, but “stable at...
http://www.chemweek.com/home/top_of_the_news/Arkema-reports-slight-decline-in-sales-Ebitda-down-13-percent-confirms-outlook_65434.html
November 14, 2014
The petrochemicals business of Indian Oil (New Delhi) reports a 38% increase in sales in the fiscal second quarter ended 30 September 2014, compared with the year-ago quarter, to 53.43...
http://www.chemweek.com/home/top_of_the_news/Indian-Oils-petrochemicals-business-reports-rise-in-sales_65430.html
November 14, 2014
Evonik Industries says that the inorganic materials business unit of its North American subsidiary Evonik Corp. (Parsippany, NJ) has signed new agreements with The Cary Co. (Addison...
http://www.chemweek.com/home/top_of_the_news/Evonik-signs-distribution-agreements-for-silica-in-US_65431.html
November 13, 2014
Activist hedge fund Third Point, which has been openly critical of Dow Chemical management since January, intends to wage a proxy battle for board seats at Dow's 2015 annual meeting, according to SEC filings....
http://www.chemweek.com/home/top_of_the_news/Third-Point-prepares-for-proxy-fight-at-Dow-Chemical_65388.html
November 13, 2014
Dow Chemical announced plans on 12 November to cut its stake in its Kuwaiti petrochemical joint ventures and sell its Angus Chemical subsidiary to private equity firm Golden Gate Partners for $1.2 billion. Dow announced the deals as part of a strategy update at its investor day in Lake Jackson, TX, where the company also announced plans to realign external reporting, increase its dividend, and expand a shareholder repurchase program....
http://www.chemweek.com/home/top_of_the_news/Dow-updates-strategy-as-Third-Point-raises-pressure_65419.html
November 13, 2014
Trinseo (Berwyn, PA; formerly Styron) reports a third-quarter loss of $10 million, down from a profit of $5 million in the year-ago period. Sales were flat year-over-year (YOY) at $1.3 billion. Higher SSBR volume and a favorable currency effects were offset by lower prices stemming mainly from lower raw material costs, says the company. Adjusted Ebitda declined 14% YOY to $62 million, the result of lower styrene monomer production margins, lower equity affiliate income, partially offset by well-timed raw material purchases, higher solution-polymerized styrene butadiene rubber (S-SBR) sales volume, and currency effects....
http://www.chemweek.com/home/top_of_the_news/Trinseo-swings-to-loss-on-poor-styrene-margins_65426.html
November 13, 2014
Brazil's competition authority CADE (Brasilia) has rejected Braskem's proposed acquisition of Solvay's 70.59% stake in chlorvinyls company Solvay Indupa (Buenos Aires). The decision...
http://www.chemweek.com/home/top_of_the_news/Brazil-blocks-Braskems-acquisition-of-Solvay-Indupa-update-adds-Braskem-comment_65343.html
November 13, 2014
Japan Polypropylene (JPP; Tokyo), a joint venture between Japan Polychem—a subsidiary of Mitsubishi Chemical—and JNC Corp. (Tokyo), has announced an expansion of...
http://www.chemweek.com/home/top_of_the_news/Japan-Polypropylene-to-expand-compounding-capacity-in-US-China_65367.html
November 13, 2014
Eastman Chemical is forecasting 8–12% annual growth for the next 3 years. Earnings in 2014 are expected to approach $7/share, up from $6.44 in 2013, with 2015 earnings growth...
http://www.chemweek.com/home/top_of_the_news/Eastman-forecasts-strong-earnings-growth-through-2017_65370.html
November 13, 2014
Air Products says that its site in the Xi’an High-tech Zone (XHTZ) in Shaanxi Province, China, was recently brought fully onstream to supply bulk gases, as previously announced...
http://www.chemweek.com/home/top_of_the_news/Air-Products-Xian-site-onstream-to-supply-gases-to-Samsung-Electronics_65344.html
November 13, 2014
EuroChem (Zug, Switzerland), one of the largest global fertilizer producers, today reported third-quarter net loss of $240 million compared with net profit of $93 million in the...
http://www.chemweek.com/home/top_of_the_news/EuroChem-reports-net-loss-on-sharp-depreciation-of-the-Russian-ruble-progresses-potash-projects_65365.html
November 13, 2014
Invista said today that a Hong Kong court recently entered a judgment in Invista’s favor in a butanediol (BDO) trade secret lawsuit against Pioneer Tech Enterprise. The...
http://www.chemweek.com/home/top_of_the_news/Hong-Kong-court-rules-in-Invistas-favor-in-BDO-licensing-case-in-China_65359.html
November 13, 2014
Engineering & construction group AMEC (London) today announced the completion of the £5 billion ($7.9 billion) merger with Foster Wheeler, creating Amec Foster Wheeler...
http://www.chemweek.com/home/top_of_the_news/AMEC-and-Foster-Wheeler-combine-into-Amec-Foster-Wheeler_65355.html
November 13, 2014
The United States International Trade Commission (ITC) has determined that imports of refrigerant gas R-134a from China do not harm the US industry. As a result, no antidumping or...
http://www.chemweek.com/home/top_of_the_news/US-ITC-rules-against-antidumping-duties-on-imports-of-refrigerant-gases-from-China_65354.html
November 13, 2014
Two new liquefied natural gas (LNG) powered sea vessels were launched on Teesside today. Operated by shipowner Anthony Veder, the new ships will carry liquefied ethylene gas from...
http://www.chemweek.com/home/top_of_the_news/New-vessels-launched-to-ship-Sabics-ethylene-produced-in-the-UK_65311.html
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