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February 14, 2014
Private-equity backed PQ Corp. today filed for an initial public offering (IPO) that could be worth up $450 million, according to US regulatory documents. The company, a maker of...
http://www.chemweek.com/lab/PQ-files-for-IPO_58758.html
February 14, 2014
Axiall (Atlanta) expects to resume operations at its PHH vinyl chloride monomer (VCM) manufacturing facility in Lake Charles, LA, near the end of the first quarter, the company announce on 6 February....
http://www.chemweek.com/lab/Axiall-aims-to-restart-Lake-Charles-VCM-before-second-quarter_58601.html
February 14, 2014
Axiall (Atlanta) and Lotte Chemical (Seoul) say they have signed a preliminary agreement to pursue a 50/50 joint venture for the construction of a 1 million m.t./year ethane cracker in Louisiana. Axiall first announced the project on 19 December....
http://www.chemweek.com/lab/Axiall-Lotte-to-partner-on-Louisiana-cracker-joint-venture_58718.html
February 14, 2014
Dow Chemical has rejected a proposal by hedge fund Third Point (New York) that the company spin off its petrochemical operations. The benefits of vertical integration, scale, and shared technologies would be lost, while a significant breakup, “simplistically described as petrochemical and specialty chemical assets,” would create no additional value, says Dow. In response, Third Point offered to sign a non-disclosure agreement to review Dow's analysis....
http://www.chemweek.com/lab/Dow-rejects-proposed-breakup-reaffirms-current-strategy-updated_58777.html
February 10, 2014
India's petrochemical industry, which was hurt in 2013 by an economic slowdown and the depreciation of the Indian currency, is expected to recover in the near term, and the industry's long-term prospects are looking very positive, say experts and manufacturers in the country....
http://www.chemweek.com/lab/India-Assembling-a-world-scale-petrochemical-industry_58623.html
February 7, 2014
W.R. Grace emerged from bankruptcy protection last week, ending nearly 13 years of operation under Chapter 11 protection to resolve nearly 130,000 asbestos personal injury and property damage claims....
http://www.chemweek.com/lab/W-R-Grace-exits-bankruptcy-protection-after-13-years_58663.html
February 7, 2014
(Correction: The earnings table included with this story misreported Dow's 4Q12 earnings at $959 million. The correct figure is -$716 million.) North American basic and diversified...
http://www.chemweek.com/lab/North-American-firms-report-strong-fourth-quarter-results_58625.html
February 7, 2014
Specialty chemical companies mostly report solid fourth-quarter results, since key end markets have grown steadily. Sherwin-Williams (SW) rode the rebound in architectural paint sales...
http://www.chemweek.com/lab/Specialty-earnings-rise-along-with-end-markets_58640.html
February 4, 2014
Grace emerged from bankruptcy protection Monday, ending nearly 13 years of operation under Chapter 11 protection to address asbestos-related claims. Separately, Grace announced Tuesday that its board has authorized a share repurchase program of up to $500 million, or roughly 6.8% of outstanding shares based current market capitalization....
http://www.chemweek.com/lab/W-R-Grace-exits-bankruptcy-protection-updated_58528.html
January 31, 2014
Managing TSCA reform as it makes its way through Congress and ensuring that fuel subsidies do not adversely impact oleochemical prices are key priorities for the cleaning chemicals...
http://www.chemweek.com/lab/ACI-2014-TSCA-reform-fuel-subsidies-key-priorities-for-soapers_58404.html
January 31, 2014
“Cautious optimism” was the phrase buzzing through the halls of the Grande Lakes Orlando this week at ACI's annual meeting and conference. Soapers and home care chemical...
http://www.chemweek.com/lab/ACI-2014-Stability-slow-growth-ahead-for-soaps_58453.html
January 31, 2014
Burdensome and counterproductive regulation and industry’s sustainability efforts emerged as common themes at the Global Industry Update panel at the American...
http://www.chemweek.com/lab/ACI-2014-Regulations-sustainability-efforts-top-global-panel-concerns_58430.html
January 31, 2014
Senator David Vitter (R., LA) told attendees Friday at ACI’s 2014 Annual Meeting, currently being held in Orlando, FL, that he is hopeful that chemical management reform will clear Congress this year....
http://www.chemweek.com/lab/ACI-2014-Senator-Vitter-optimistic-about-prospects-for-CSIA-passage-this-year_58467.html
January 29, 2014
Dow Chemical posted fourth-quarter net income of $963 million, reversing a year-ago loss of $716 million. Reported adjusted earnings were 65 cts/share, up 97% compared with the year-ago quarter and 51% above the consensus analyst estimate as reported by Thomson Reuters....
http://www.chemweek.com/lab/Dow-earnings-beat-estimates-on-gains-in-all-segments_58386.html
January 27, 2014
Lanxess says that executive chairman Axel Heitmann has agreed to resign “by mutual agreement,” effective 28 February. The supervisory board has appointed Matthias Zachert, former chief financial officer (CFO) of Lanxess and current CFO at Merck KGaA, as Heitmann’s successor, effective 15 May 2014. Until Zachert joins, Lanxess CFO Bernhard Duettmann will perform the responsibilities of board chairman....
http://www.chemweek.com/lab/Lanxess-chief-executive-Heitmann-to-step-down-former-CFO-Zachert-named-next-CEO-updated_58319.html
January 24, 2014
Water treatment chemicals, services, and equipment are increasingly in demand at industrial operations. Companies are also looking to expand in China and help customers comply with environmental rules, producers say....
http://www.chemweek.com/lab/Water-treatment-Industrial-applications-drive-demand_58253.html
January 24, 2014
Freedom Industries has filed for bankruptcy a week after a leak at one of its tanks containing 4-methylcyclohexane methanol (MCHM) forced a water ban in nine West Vriginia counties surrounding Charleston, WV—the state’s largest city....
http://www.chemweek.com/lab/Freedom-Industries-declares-bankruptcy-following-WV-spill_58278.html
January 24, 2014
Northwest Innovation Works (NWIW; Vancouver, WA) has proposed to build two large-scale methanol plants in the US Pacific Northwest. The proposed facilities would each cost $1 billion...
http://www.chemweek.com/lab/Chinese-group-plans-two-mega-methanol-plants-in-US-Pacific-Northwest-to-supply-olefins-feedstock_58289.html
January 24, 2014
Hedge fund Third Point (New York), on 21 January, revealed a “significant” investment in Dow Chemical and promptly urged management to consider spinning off its petrochemical operations....
http://www.chemweek.com/lab/Hedge-fund-Third-Point-pushes-Dow-for-petrochemical-spin-off_58280.html
January 23, 2014
Biodiesel producer Renewable Energy Group (Ames, IA) today announced it has acquired renewable chemical technology developer LS9 for a purchase price of up to $61.5 million, consisting...
http://www.chemweek.com/lab/Biodiesel-firm-acquires-LS9-for-$61-million_58203.html
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