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February 23, 2015
Asahi Kasei will retain Polypore’s energy storage business, a maker of polymer membranes that separate the cathode and anode in batteries. As part of the deal, 3M (St. Paul, MN) will acquire the assets of Polypore’s separations media business, which produces membranes and membrane modules used in hemodialysis, blood oxygenation, plasmapheresis, other medical applications, for about $1 billion immediately prior to Asahi Kasei’s acquisition of Polypore....
http://www.chemweek.com/lab/Asahi-Kasei-to-acquire-Polypore-in-deal-valued-at-$3-2-billion_68006.html
February 20, 2015
A large majority of the leading chemical companies based in Japan have reported improved earnings for the fiscal first nine months, ended 31 December 2014. Only Teijin and Tokuyama...
http://www.chemweek.com/lab/Leading-Japanese-companies-report-improved-earnings_67892.html
February 20, 2015
through the weakening of the euro, early-reporting companies based in Europe gained some relief in the fourth quarter of 2014 from the currency headwinds they had been battling all...
http://www.chemweek.com/lab/Earnings-reflect-softer-demand-offsetting-weaker-euro_67920.html
February 20, 2015
Activist hedge fund Trian Fund Management (New York) on 11 February filed a proxy statement with SEC for its four nominees to stand for election to DuPont’s board at the company’s next annual meeting....
http://www.chemweek.com/lab/Trian-and-DuPont-step-up-fight-over-board-seats_67930.html
February 20, 2015
For better or worse, activists are likely to be a recurring theme in industry. Even with recent high-profile spats involving blue chips names, such as Air Products, Dow Chemical, and DuPont, activist activity is likely to expand to more companies. Activists are raising funds at an aggressive pace, and high-profile campaigns against chemical makers may draw others to the sector....
http://www.chemweek.com/lab/Activists-advance_67962.html
February 20, 2015
Omnova Solutions has agreed to support two board nominees backed by activist investor Barington Capital (New York), avoiding a possible proxy fight....
http://www.chemweek.com/lab/Omnova-and-Barington-reach-agreement-on-board-seats_67977.html
February 16, 2015
Sabic said on 15 February that Yousef Abdullah Al Benyan had been appointed acting CEO of the company. This follows the appointment by the new Saudi King Salman of Mohamed Al...
http://www.chemweek.com/lab/Mohamed-Al-Mady-steps-down-as-CEO-of-Sabic-Al-Benyan-appointed-acting-CEO_67795.html
February 13, 2015
The immediate result of declining crude oil prices on the petrochemical market has been destocking and a pause in investment, but in the longer term, demand will surge past earlier projections as lower energy costs boost economic growth, and supply will tighten, says Dave Witte, senior v.p. and general manager of IHS Chemical....
http://www.chemweek.com/lab/Oil-to-drive-near-term-petchem-weakness-longer-term-demand-surge-and-tighter-supply_67771.html
February 9, 2015
Diversified and commodity producers report positive results for the fourth quarter as year-on-year (YOY) growth in volumes and advantaged feedstocks boosted reported earnings above...
http://www.chemweek.com/lab/Fourth-quarter-earnings-up-but-forecasts-down-for-2015_67582.html
February 9, 2015
Tronox has reached a deal to acquire FMC’s alkali chemicals, or soda ash, business for $1.64 billion. The transaction is expected to close in the first quarter. FMC, in September...
http://www.chemweek.com/lab/Tronox-to-acquire-FMCs-soda-ash-business-for-$1-64-billion_67581.html
February 5, 2015
One company, for now dubbed New Grace, will be comprised of catalysts technologies and materials technologies, excluding the Darex packaging business. New Grace is expected to have sales of $1.8 billion annually. The other company, called New GCP, will be made up of Grace’s construction products business and the Darex business. It is expected to have sales of $1.5 billion....
http://www.chemweek.com/lab/W-R-Grace-to-split-in-two_67530.html
February 5, 2015
DuPont has appointed Edward Breen, former CEO and current chairman of Tyco, and James Gallogly, former CEO and management board chairman of LyondellBasell, as independent directors, effective immediately....
http://www.chemweek.com/lab/DuPont-names-former-LyondellBasell-and-Tyco-CEOs-to-board_67531.html
February 3, 2015
Tronox and FMC have confirmed reports that Tronox will acquire FMC’s alkali chemicals, or soda ash, business. Tronox has signed a definitive agreement to acquire the business for...
http://www.chemweek.com/lab/Tronox-to-acquire-FMCs-soda-ash-business-for-$1-64-billion_67471.html
January 30, 2015
Le Joint Français, owned by Total’s Hutchinson Group (Paris) subsidiary, has been a long-term licensee of PPG’s aerospace sealant technology....
http://www.chemweek.com/lab/PPG-to-acquire-majority-stake-in-aerospace-and-automotive-sealants-business-of-LJF_67364.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/lab/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/lab/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/lab/ACI-2015-SC-Johnson-CEO-says-industry-must-rebuild-consumer-trust_67361.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/lab/Air-Products-beats-estimates-with-17-percent-earnings-gain_67314.html
January 29, 2015
Executives at international cleaning products associations say that harmonizing regulatory and sustainability standards across different countries will be a key focus in 2015. Association executives also pointed to initiatives in individual countries or regions, such as Registration, Evaluation, and Authorisation of Chemicals (Reach) in Europe or education about proper use of cleaning products in Brazil. The executives spoke Tuesday at the global issues briefing at ACI’s annual conference in Orlando, FL....
http://www.chemweek.com/lab/ACI-2015-Standards-harmonization-key-to-international-agenda_67287.html
January 27, 2015
DuPont, facing a proxy battle from activist investor Trian Partners (New York), today increased the cost savings target from its ongoing restructuring by 30%, to $1.3 billion, and said it would use proceeds from the planned spin off of its Chemours performance chemicals business to fund a $4-billion share repurchase. DuPont expects to complete the spin off of Chemours by mid-2015....
http://www.chemweek.com/lab/DuPont-reports-stronger-fourth-quarter-warns-currency-will-be-drag-on-2015-earnings_67239.html
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