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April 24, 2014
Eastman today announced its first quarter results, with net income dropping 6% year-on-year (YOY), to $233 million. Reported adjusted earnings of $1.61/share were 1 ct below the year-ago quarter but above analyst estimates of $1.58/share, according to Thomson Reuters (New York). Sales of $2.3 billion were flat YOY....
http://www.chemweek.com/lab/Eastman-earnings-down-on-flat-sales-in-first-quarter_60585.html
April 24, 2014
Air Products told investors on its earnings call 23 April that the search for its next CEO continues. Air Products announced last September that current CEO John McGlade will...
http://www.chemweek.com/lab/Air-Products-says-search-for-CEO-on-track_60540.html
April 21, 2014
Platform Specialty Products (PSP; Waterbury, CT) has entered into a definitive agreement to acquire Chemtura's pesticides business for $1 billion. The price consists of $950...
http://www.chemweek.com/lab/Platform-acquires-Chemturas-pesticides-business-for-$1-billion_60358.html
April 21, 2014
DuPont reports first-quarter operating earnings of $1.5 billion, up 1% year-on-year (YOY). Weak agricultural results offset gains across other segments. Operating earnings of...
http://www.chemweek.com/lab/DuPont-earnings-up-1-percent-despite-revenue-slip-on-weak-ag-results_60409.html
April 21, 2014
Silicones and quartz maker Momentive Performance Materials (MPM; Albany), controlled by private equity firm Apollo Management, has filed for Chapter 11 bankruptcy protection in an...
http://www.chemweek.com/lab/Momentive-Performance-Materials-files-for-Chapter-11_60387.html
April 21, 2014
SI Group (Schenectady, NY) has agreed to acquire the antioxidant, ibuprofen, and propofol businesses of Albemarle for an undisclosed amount of cash....
http://www.chemweek.com/lab/SI-Group-to-acquire-Albemarles-antioxidants-and-ibuprofen-business_60422.html
April 17, 2014
Platform Specialty Products (Miami) has entered into a definitive agreement to acquire Chemtura’s pesticides business for $1 billion. The price consists of $950 million in cash plus 2 million shares of Platform common stock....
http://www.chemweek.com/lab/Platform-acquires-Chemturas-agchems-business-for-$1-billion_60408.html
April 16, 2014
SI Group (Schenectady, NY) has agreed to acquire the antioxidant, ibuprofen and propofol businesses of Albemarle for an undisclosed amount of cash. The deal includes manufacturing...
http://www.chemweek.com/lab/SI-Group-to-acquire-Albemarles-antioxidants-and-ibuprofen-business_60349.html
April 14, 2014
Silicones and quartz maker Momentive Performance Materials (MPM; Albany), which is controlled by private-equity firm Apollo Management, has filed for Chapter 11 bankruptcy protection in an attempt to implement a "pre-negotiated" restructuring plan to reduce debt by $3 billion. All of MPM’s silicones and quartz businesses will continue to operate normally during this period, the company adds....
http://www.chemweek.com/lab/Momentive-Performance-Materials-files-for-Chapter-11-updated_60267.html
April 14, 2014
Global economic and chemical output growth should continue to accelerate in 2014. “With improving economic prospects, headline growth for chemicals globally will improve to 3.8% in 2014,” says Kevin Swift, ACC chief economist and managing director. That number is up from expected global growth of 2.4% in 2013...
http://www.chemweek.com/lab/Outlook-2014-Looking-forward_57898.html
April 11, 2014
Koch Industries and the private equity arm of Goldman Sachs have agreed to acquire printing inks maker Flint Group (Luxembourg) from CVC Capital Partners (London). Flint is the second-largest global producer of printing inks after DIC (Tokyo). Flint revenues for 2013 were €2.2 billion ($2.9 billion). Terms of the sale were not disclosed but sources say the price was close to Flint's 2013 revenues, $2.9 billion, and that the equity contribution of both Goldman and Koch will be roughly equal....
http://www.chemweek.com/lab/Goldman-Sachs-Koch-Industries-partner-to-acquire-Flint-Group-updated_60231.html
April 4, 2014
Balchem says it has agreed to acquire SensoryEffects (St. Louis), a privately-held maker of food and beverage ingredients, for $567 million. SensoryEffects’ 2014 revenues should...
http://www.chemweek.com/lab/Balchem-to-acquire-food-ingredients-maker-SensoryEffects_59971.html
April 4, 2014
 Soybean sales and margin expansion lifted Monsanto's second-quarter results above expectations, and the company reaffirmed its fiscal 2014 guidance of mid-teens earnings growth...
http://www.chemweek.com/lab/Monsanto-tops-estimates-on-strong-soybean-results_60007.html
April 4, 2014
Momentive Performance Materials (MPM; Albany, NY), the silicones and quartz subsidiary of Momentive, is considering a bankruptcy filing as part of negotiations to reduce debt. “As part of this process, a filing under Chapter 11 of the US Bankruptcy Code may provide the most expeditious manner in which to effect a plan of reorganization,” MPM said in a regulatory filing....
http://www.chemweek.com/lab/Momentive-Performance-Materials-considers-bankruptcy-filing_60055.html
April 4, 2014
Celanese is exploring plans to construct a 1.3-million m.t./year methanol production unit at its Bishop, TX site. The company says it is preparing necessary environmental permits for the unit....
http://www.chemweek.com/lab/Celanese-eyes-second-US-methanol-plant_59938.html
April 3, 2014
Chevron Phillips Chemical (CPChem; The Woodlands, TX) has broken ground on its US Gulf Coast (USGC) Petrochemicals Project at the Cedar Bayou plant in Baytown, TX....
http://www.chemweek.com/lab/Chevron-Phillips-Chemical-breaks-ground-on-planned-Cedar-Bayou-cracker_60071.html
April 3, 2014
Midstream firms are spending billions of dollars on gas-processing plants, fractionators, pipelines, storage facilities, shipping terminals, and other infrastructure that enable the shale gas revolution to spark a petrochemical renaissance....
http://www.chemweek.com/lab/Petrochemicals-Huge-midstream-investments-underpin-rebirth-of-US-industry_59746.html
March 28, 2014
China's petrochemical industry, after a decade of rapid expansion, has reached two major bottlenecks: market monopolization and crude oil supply constraints. These constraints have...
http://www.chemweek.com/lab/IHS-WPC-2014-Chinas-investments-in-unconventional-feedstocks-will-transform-countrys-petchem-industry_59863.html
March 28, 2014
Compared to one year ago, there are more reasons to be optimistic about the economic outlook in the developed nations, particularly the United States, says Nariman Behravesh, chief economist at IHS. However, the outlook for the developing nations, notably China, has gotten worse. “China is an accident waiting to happen,” he says....
http://www.chemweek.com/lab/IHS-WPC-2014-Advanced-economies-accelerate-as-growth-slows-in-developing-nations_59862.html
March 28, 2014
US exports of polyethylene, polypropylene, and para-xylene, three of the largest primary petrochemical products, could double by 2025 thanks to shale gas, ExxonMobil Chemical president Stephen Pryor told attendees in the keynote address at the IHS Chemical World Petrochemical Conference at Houston on Wednesday....
http://www.chemweek.com/lab/IHS-WPC-2014-US-exports-of-key-petrochemicals-could-double-by-2025-ExxonMobil-says_59887.html
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