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April 29, 2016Specialty chemical firms generally beat estimates in the first quarter despite continued weakness in some emerging markets and negative currency impacts. Volumes rose for coatings makers PPG Industries and Sherwin-Williams (SW), while Ashland's business turned around. Some companies reported pricing weakness due to the pass-through of lower raw material costs, but volumes were mostly solid outside of emerging markets and energy....
April 29, 2016Sales declined across the board in the initial batch of first-quarter results from North American commodity and diversified chemical companies mainly because of lower selling prices and currency exchange effects. Earnings were positive, with the exception of Methanex, which posted a loss, and only Methanex failed to beat estimates....
April 28, 2016Dow Chemical reported better-than-expected first-quarter earnings as stronger volumes and lower costs more than offset sharp pricing declines. Reported operating earnings were 89 cts/share, up 6% YOY, and 7% above analyst estimates....
April 26, 2016DuPont reported first-quarter net income of $1.2 billion, up 19% year-on-year (YOY) due mainly to a gain from the sale of assets in China. Reported operating earnings of $1.26/share...
April 23, 2016BASF announced on Friday that it signed an agreement to sell its global polyolefin catalysts business to W.R. Grace. BASF and Grace intend to complete the transaction in the third quarter of 2016....
April 22, 2016AkzoNobel's first-quarter net income from continuing operations totaled €240 million ($271.2 million), up 48% from the same period last year, the company has announced today. Ebitda also grew, but by just 5% year-on-year (YOY), to €487 million, reflecting continuous-improvement initiatives and lower costs, partly offset by adverse currency effects...
April 20, 2016Occidental Chemical (OxyChem; Houston) has announced a $145 million expansion of its Geismar, LA, manufacturing plant. The project will include equipment for the production of a new raw material for next-generation refrigerants. Construction will begin in May, says the company, which expects to finish the project in late 2017....
April 18, 2016New antidumping duties on polyethylene terephthalate (PET) resin from China, India, Oman, and Canada are unlikely to reduce imports by the United States, but they may improve the margins of domestic producers, IHS Chemical says....
April 18, 2016Ashland said on 13 April that it will pursue an initial public offering of up to 20% of the common stock in Valvoline as a first step in separating the business from Ashland. The overall separation, which was announced in September 2015, is expected to be complete about six months after the IPO, when Ashland distributes Valvoline’s remaining common stock to Ashland shareholders in a tax-free spin-off....
April 18, 2016Invista says it has started up a new 215,000 m.t./year hexamethylene diamine (HMDA) plant in Shanghai, part of a $1 billion nylon-6,6 project first announced in 2007, but delayed until 2014 by the economic downturn....