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May 2, 2014
Activist hedge fund Third Point, led by Daniel Loeb, has called on Dow Chemical to provide greater detail on its petrochemical operations, arguing that the segment is “underearning” by at least $2.5 billion/year. Third Point says in a 1 May letter to investors that the earnings gap is the result of the “result of a strategy focused more on selling downstream products than on maximizing profits.”...
http://www.chemweek.com/people_and_business/companies/Hedge-fund-Third-Point-sharpens-criticism-of-Dows-petchem-strategy_60770.html
May 2, 2014
Niagara Fiber, which is owned by private equity firm Arsenal Capital (New York), has announced it will acquire Allied Blending & Ingredients (ABI; Keokuk, IA), a maker of fiber and...
http://www.chemweek.com/people_and_business/companies/Arsenals-Niagara-Fiber-acquires-Allied-Blending_60768.html
May 2, 2014
LyondellBasell Industries has received a key permit required in the company's ethylene expansion program, the company announced today. The investments are expected to provide an...
http://www.chemweek.com/people_and_business/companies/LyondellBasell-gets-permit-for-ethylene-expansion-at-Corpus-Christi_60762.html
May 1, 2014
Cytec says that Raymond Heslin and Richard Ferguson have been elected corporate officers of the company. Heslin, who has been with Cytec since 1994, is is currently corporate...
http://www.chemweek.com/people_and_business/companies/Cytec-adds-two-corporate-officers_60748.html
May 1, 2014
Sonatrach (Algiers) and the Villar Mir (Madrid) conglomerate signed two agreements related to their fertilizer activities in Algeria, local media sources report. The first agreement...
http://www.chemweek.com/people_and_business/companies/Reports-Sonatrach-and-Spanish-conglomerate-sign-agreements-related-to-fertilizer-JVs_60731.html
May 1, 2014
Airgas today reported earnings for the quarter ended 31 March of $88.3 million, up 2% year-on-year (YOY) on sales flat at $1.27 billion. Earnings per share of $1.17/share fell below...
http://www.chemweek.com/people_and_business/companies/Airgas-reports-flat-sales-on-sluggish-conditions_60733.html
May 1, 2014
Titan Group (Omsk, Russia) has increased its polypropylene (PP) capacity at Omsk through a technology upgrade, the company announced. Capacity has increased by 25% from about...
http://www.chemweek.com/people_and_business/companies/Titan-completes-PP-capacity-hike-at-Omsk_60734.html
May 1, 2014
Petkim (Alia─ča, Turkey) has reported net income of 37 million Turkish Lira ($17.5 million) for the first quarter of 2014, up almost twelve-fold on a year-on-year (YOY) basis. Ebitda...
http://www.chemweek.com/people_and_business/companies/Petkim-reports-twelve-fold-increase-in-net-income_60726.html
May 1, 2014
PolyOne today reported first-quarter net income of $29.4 million, or 31 cts/share, up 93.4% year-on-year (YOY), on sales up 25%, to $1 billion. Adjusted earnings totaled 44 cts/share...
http://www.chemweek.com/people_and_business/companies/PolyOne-earnings-rise-on-Spartech-synergies_60736.html
April 30, 2014
Intrepid Potash today reported results for its first quarter 2014, including a net loss of $0.4 million, compared to a gain of $14.9 million in the first quarter 2013. Earnings per...
http://www.chemweek.com/people_and_business/companies/Intrepid-Potash-reports-net-loss-in-first-quarter_60706.html
April 30, 2014
Ashland today reported a net loss from continuing operations of $61 million, or 78 cts/share, compared with a net gain of $48 million in the year-ago quarter, on sales that were flat...
http://www.chemweek.com/people_and_business/companies/Ashland-swings-to-loss-on-restructuring-charges-adjusted-earnings-flat-YOY_60712.html
April 30, 2014
Indian specialty chemicals maker Artek Surfin (Mumbai) announced today that it has completed its acquisition of 100% of Galata Chemicals, the former PVC additives business of Chemtura...
http://www.chemweek.com/people_and_business/companies/Artek-Surfin-completes-Galata-Chemicals-buyout_60710.html
April 30, 2014
Chemtura today reported net earnings of $10 million, compared with a net loss of $18 million in the year-ago quarter, on sales up 5% year-on-year (YOY), to $556 million. Adjusted...
http://www.chemweek.com/people_and_business/companies/Chemtura-misses-estimates-on-weakness-in-bromine-and-organometallics_60708.html
April 30, 2014
Yara International (Oslo) has revamped its fertilizer blending unit at Porto Alegre, Brazil, and restarted operations there on 24 April, the company announced. The expansion boosts...
http://www.chemweek.com/people_and_business/companies/Yara-completes-revamp-of-fertilizer-blending-unit-in-Brazil_60692.html
April 30, 2014
Praxair announced today that it is raising the price of argon in the United States and Puerto Rico, effective 15 May. Prices will go up as much as 20% for argon and 15% for argon...
http://www.chemweek.com/people_and_business/companies/Praxair-raises-argon-prices_60694.html
April 30, 2014
Mexichem (Tlalnepantla, Mexico) reports net income of $49 million in the first quarter, up 16% year-on-year (YOY) primarily because of last year’s $7.8-million loss...
http://www.chemweek.com/people_and_business/companies/Mexichems-net-income-up-16-percent-confirms-outlook_60691.html
April 29, 2014
Lubricants maker Quaker Chemical today reported first-quarter net income down tk% year-on-year (YOY), to $12.7 million, or 96 cts/share, on sales up 3%, to $181.7 million. Net income...
http://www.chemweek.com/people_and_business/companies/Quaker-Chemical-earnings-fall-on-tax-impact_60679.html
April 29, 2014
Air Products announced today that it has signed an agreement with JCG (Tokyo) to provide its proprietary liquefied natural gas (LNG) technology, equipment, and process license for...
http://www.chemweek.com/people_and_business/companies/Air-Products-to-provide-equipment-for-Petronas-LNG-project_60676.html
April 29, 2014
SunEdison, formerly MEMC electronic materials, announced today that it has closed construction financing, underwritten by Deutsche Bank (New York), for its solar power project in Kern...
http://www.chemweek.com/people_and_business/companies/SunEdison-closes-on-financing-for-California-solar-project_60668.html
April 29, 2014
Stepan today reported first-quarter earnings down 32% year-on-year, to $13 million, on sales up 5%, to $477 million. Excluding deferred compensation, adjusted earnings totaled $12.8...
http://www.chemweek.com/people_and_business/companies/Stepan-earnings-hit-hard-by-winter-weather_60665.html
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