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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
January 23, 2015
Chemical industry financial analysts expect North American chemical companies to report solid fourth-quarter earnings, driven by lower raw material costs and solid demand, but the...
http://www.chemweek.com/lab/CW-News-roundup-Crude-looms-over-Q4-earnings-and-2015-outlook_67175.html
January 23, 2015
Chemical industry financial analysts expect North American chemical companies to report solid fourth-quarter earnings, driven by lower raw material costs and solid demand, but the...
http://www.chemweek.com/lab/Crude-oil-looms-over-fourth-quarter-earnings-and-outlook_67142.html
January 23, 2015
Celanese (Dallas, TX) reports a net loss for the fourth quarter of $85 million, down from $654 million in the year-ago period. Net sales totaled $1.6 billion, down 3.5% year-over-year (YOY). Adjusted earnings per share totaled $1.28, up 23% YOY and 9 cents above the analysts’ consensus of $1.19 compiled by Thomson Reuters (New York)....
http://www.chemweek.com/lab/Celanese-beats-estimates-but-guides-2015-lower_67157.html
January 19, 2015
Crude oil prices have not been low for long enough to curtail chemical production growth in the United States, IHS Chemical says. Brent crude and West Texas Intermediate (WTI) prices...
http://www.chemweek.com/lab/Chemical-industry-to-reap-benefits-of-lower-oil-prices_66874.html
January 19, 2015
PPG Industries on 15 January reported fourth-quarter net income from continuing operations of $86.0 million, or 62 cts/share, down 64% year-on-year (YOY), on sales up 6.0%, to $3.71 billion....
http://www.chemweek.com/lab/PPG-beats-estimates-but-earnings-decline-on-charges_66892.html
January 14, 2015
Chemical demand is expected to strengthen in 2015, with growth expected to exceed 3.0% in both the United States and overall global market for the first time in four years....
http://www.chemweek.com/lab/2015-Forecast-Can-demand-shrug-off-crude-price-shock_66710.html
January 13, 2015
Hedge fund Trian Fund Management (New York) on Friday continued its campaign against DuPont management by nominating four directors to the company’s board. The four are Trian CEO...
http://www.chemweek.com/lab/Trian-nominates-four-DuPont-directors-sharpens-call-for-break-up_66718.html
January 12, 2015
Benzene contracts for January have been settled in the United States at $2.20/gal ($658/m.t.), a steep, 35% decline from $3.37/gal in December 2014 and the lowest value in more than...
http://www.chemweek.com/lab/Benzene-contracts-settle-in-US-at-five-year-low_66671.html
December 19, 2014
DuPont today filed with the US Securities and Exchange Commission (SEC; Washington) to launch a spinoff of its mostly-commodity performance chemicals business, over a year after the...
http://www.chemweek.com/lab/DuPont-files-for-performance-chemicals-spinoff_66339.html
December 19, 2014
Dow Corning is shuttering its never-operated Hemlock Semiconductor polysilicon facility in Clarksville, TN, saying the plant would not be economically viable. The $1-billion-plus project was completed last year but has never produced product because of oversupply in polysilicon markets and the impact of tariffs on polysilicon imported into China....
http://www.chemweek.com/lab/Dow-Corning-to-abandon-Tennessee-polysilicon-assets_66300.html
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