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July 25, 2013
Air Products has adopted a stockholder rights plan, or so called ‘poison pill,’ noting “unusual and substantial activity” in its shares. The plan will be triggered if a person or group acquires 10%, or 20% in the case of institutional investors, of the company’s common stock....
http://www.chemweek.com/lab/Air-Products-adopts-poison-pill_53910.html
July 25, 2013
Dow Chemical reported higher second-quarter profits, driven by an advantaged feedstock position in North America, strong adoption of corn seeds and new crop protection products by farmers, and previously announced cost-cutting programs. The company says it is also evaluating underperforming businesses, specifically epoxies, chlorine derivatives, and building and construction outside North America, which together represent $6 billion in annual revenue. "Here we see the need for more dramatic interventions," Liveris told investors on a conference call this morning. "Therefore, these businesses are in the fix-take action mode, which includes exploring all possibilities, including joint venturing or divesting them."...
http://www.chemweek.com/lab/Dow-Chemical-posts-higher-profits-considering-options-for-epoxy-and-chlorine-derivatives-units_53900.html
July 25, 2013
Ashland today reported fiscal third-quarter income from continuing operations down 26.9% year-on-year (YOY), to $117 million, on sales down 4%, to $2.1 billion. The declines were...
http://www.chemweek.com/lab/Ashland-to-sell-water-technologies-elastomers-earnings-fall_53901.html
July 23, 2013
DuPont says it is exploring the sale or spin-off of its $7-billion/year performance chemicals unit as part of its transformation to a "higher growth, less cyclical company.” DuPont’s performance chemicals business includes titanium dioxide, fluorochemicals, and specialty and industrial chemicals. DuPont also reports second-quarter net income of $1.03 billion, down 12% year-on-year (YOY). Reported adjusted earnings were $1.28/share, down 15% YOY and in line with lowered company guidance announced in June....
http://www.chemweek.com/lab/DuPont-exploring-sale-of-performance-chemicals-unit_53831.html
July 23, 2013
DuPont shares rose 5.3% on 17 July following reports that Trian Fund Management (New York), run by activist investor Nelson Peltz, has acquired a large stake in the company....
http://www.chemweek.com/lab/DuPont-shares-soar-on-report-that-activist-investor-Trian-has-purchased-stake_53717.html
July 22, 2013
PPG today reported second-quarter net income up 14.8% year-on-year (YOY), to $341 million, on sales up 16%, to $4.1 billion. Adjusted earnings—which exclude acquisition...
http://www.chemweek.com/lab/PPG-earnings-rise-on-strong-industrial-coatings-results_53740.html
July 18, 2013
Celanese posted second-quarter net earnings of $133 million, down 40% from the year-ago quarter. Reported adjusted earnings were $1.12/share, a 28% decline year-on-year (YOY), and 3%...
http://www.chemweek.com/lab/Celanese-earnings-decline-on-weak-acetyls-demand_53756.html
July 17, 2013
“If you succeed all the time, it means you’re not setting big enough targets,” says Patrick Thomas, CEO of Bayer MaterialScience....
http://www.chemweek.com/lab/Risk-averse-culture-limits-chemical-innovation-Bayer-MaterialScience-CEO_53657.html
July 15, 2013
Dow Chemical’s advanced materials business aims to combine the scale of Dow with the customer intimacy of Rohm and Haas, its landmark 2009 acquisition...
http://www.chemweek.com/lab/Dow-Advanced-Materials-Building-a-specialties-franchise_53552.html
July 15, 2013
Sasol today announced a series of engineering and technology provider appointments as it continues to advance front-end engineering and design (FEED) of its Lake Charles, LA ethane...
http://www.chemweek.com/lab/Sasol-awards-contracts-for-US-ethane-cracker-and-derivatives-complex_53645.html
July 10, 2013
EuroChem (Moscow), Russia’s largest fertilizer producer and 1 of the top 10 global fertilizer makers, today announced its intention to build an ammonia and urea production...
http://www.chemweek.com/lab/Russias-EuroChem-to-invest-$1-5-billion-in-ammonia-urea-complex-in-Louisiana_53499.html
July 10, 2013
OCI Resources, a newly launched affiliate of soda ash producer OCI Wyoming, on Monday filed with the SEC to raise up to $115 million in an initial public offering. OCI Wyoming is a...
http://www.chemweek.com/lab/Soda-ash-producer-OCI-Resources-files-for-an-IPO_53462.html
July 1, 2013
ACC’s recently completed review of Responsible Care has resulted in the most significant changes to the program in at least 10 years, including the addition of product safety and...
http://www.chemweek.com/lab/Responsible-Care-at-25_53211.html
June 28, 2013
ACC has released its chemical activity barometer (CAB) for May, showing continued US economic growth. The CAB increased 0.3% over May on a 3-month moving average basis—the 11th...
http://www.chemweek.com/lab/ACC-economic-indicator-survey-forecasts-continued-US-growth_53246.html
June 28, 2013
Industry groups, including ACC and American Fuels and Petrochemicals Manufacturers (AFPM; Washington), have issued mostly critical reactions to President Obama’s federal climate...
http://www.chemweek.com/lab/Industry-mostly-skeptical-of-Obama-climate-plan_53241.html
June 28, 2013
Helsinki Forum: Balancing regulation with innovation was among the meeting’s primary themes. The 5th Helsinki Chemicals Forum, held 18–19 June, assessed policy direction...
http://www.chemweek.com/lab/Helsinki-Chemicals-Forum-2013_53166.html
June 24, 2013
China is in the midst of a surge in coal-to-chemicals investment, says Paul Pang, managing director of IHS Chemical China....
http://www.chemweek.com/lab/China-Location-is-the-key-to-Chinas-new-generation-of-coal-chemicals_51465.html
June 21, 2013
Suppliers to the semiconductor sector say the outlook for electronic chemicals is improving following a dip in late 2012....
http://www.chemweek.com/lab/Electronic-chemicals-Chip-market-set-for-rebound_53001.html
June 19, 2013
Shin-Etsu says its US subsidiary Shintech will invest $500 million to expand chlor-alkali, vinyl chloride monomer, and polyvinyl chloride at production sites in Louisiana. Project completion is targeted for 2015....
http://www.chemweek.com/lab/Shin-Etsu-to-invest-$500-million-to-boost-US-vinyls-capacity_52911.html
June 19, 2013
Alpek’s DAK Americas unit said today that it will shut all operations at its Cape Fear site near Wilmington, NC, where it produces purified terephthaic acid (PTA), polyethylene terephthalate (PET) resins, and polyester staple fiber. The closure of the site is expected to be completed by September 2013....
http://www.chemweek.com/lab/DAK-to-end-PET-PTA-production-at-Cape-Fear-site_52948.html
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