IHS Chemical Week

Archives :: Regions :: North America

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February 1, 2016
PBF Energy (Parsippany, NJ) confirmed on 29 January that its Delaware City, DE, refinery would likely be up and running by 1 February.  The company said that it was restarting a fluidized catalytic cracking (FCC) unit at the facility on 29 January....
http://www.chemweek.com/regions/north_america/PBFs-Delaware-City-refinery-expected-back-online_76832.html
January 29, 2016
Phillips 66 reports that its chemicals segment, a 50% share of Chevron Phillips Chemical (CPChem),  contributed $212 million to fourth-quarter earnings, down 14% year-over-year (YOY) from $267 million. Declines in both the olefins and polyolefins (O&P) and specialties, aromatics and styrenics (SA&S) businesses were offset somewhat by a $34 million tax adjustment....
http://www.chemweek.com/regions/north_america/us/CPChem-fourth-quarter-earnings-drop-14-percent-YOY_76821.html
January 29, 2016
The US February benzene contract settled at $1.84-1.85/gallon today, down 27-28 cents/gal from the previous month on the back of continued weakness in energy futures. The decline was in line with expectations, following an overall decline in benzene spot prices through January. Prompt benzene spot prices yesterday were at $1.84-1.86/gal, down from $2.08-2.10/gal at the start of the month....
http://www.chemweek.com/regions/north_america/Benzene-contract-drops-in-US-for-second-straight-month_76822.html
January 29, 2016
Praxair has reported fourth-quarter 2015 net income of $422 million, up 40% year-on-year (YOY), on sales down 13%, to $2.60 billion. The declines were due to negative currency impacts...
http://www.chemweek.com/regions/north_america/Praxair-matches-estimates-as-volumes-decline-on-weak-end-markets_76817.html
January 29, 2016
Air Products reports fiscal first-quarter 2016 net income up 9.3% year-on-year (YOY), to $372 million, while sales fell 8% YOY, to $2.4 billion, primarily because of unfavorable...
http://www.chemweek.com/regions/north_america/Air-Products-income-up-sales-down_76816.html
January 29, 2016
Westlake Chemical’s (Houston) $2.9-billion bid for Axiall (Atlanta) is low, says analyst Hassan Ahmed of Alembic Global Advisors (New York). Although the $20/share offer represents a premium over 100%, Axiall has been deeply undervalued by the stock market, Ahmed says....
http://www.chemweek.com/regions/north_america/Westlakes-initial-offer-for-Axiall-a-low-ball-bid-Alembic-says_76815.html
January 29, 2016

Westlake Chemical (Houston) says its $2.9-billion bid to acquire Axiall (Atlanta) has been “summarily rejected” by the Axiall board of directors. The combination would create North America’s second-largest producer of polyvinyl chloride, with 23% of the market’s 8.9 million m.t./year of production capacity. 

...

http://www.chemweek.com/regions/north_america/us/Axiall-board-rejects-Westlakes-$2-9-billion-bid_76811.html
January 29, 2016
Eastman Chemical reports net earnings for the fourth quarter of $125 million, up from $17 million in the year-ago period, on sales of $2.225 million, down 5% year-over-year (YOY). Adjusted earnings per share of $1.59 declined 3% YOY, but beat the average analyst estimate of $1.55 as compiled by Thomson Reuters (New York)....
http://www.chemweek.com/regions/north_america/Eastman-fourth-quarter-earnings-beat-estimates_76772.html
January 28, 2016
US aromatics spot prices on Wednesday saw little movement as domestic crude inventory rose to its highest level on record, and NYMEX WTI crude futures firmed. US crude and gasoline inventory were both higher for the week that ended on 22 January, according to data released by the Energy Information Administration (EIA) earlier in the day....
http://www.chemweek.com/regions/north_america/us/Little-reaction-in-US-aromatics-as-crude-and-gasoline-inventories-firm_76733.html
January 28, 2016
Airgas reports fiscal third-quarter net income down 20% year-on-year (YOY), to $73.9 million, on net sales down slightly at 2.7%, to $1.3 billion YOY, reflecting the challenging...
http://www.chemweek.com/regions/north_america/Airgas-income-sales-down-on-challenging-industrial-economy_76744.html
January 28, 2016
Cabot Microelectronics today reported fiscal first-quarter net income down 9.6% year-on-year (YOY), to $11.3 million, on sales that were roughly flat YOY, at $100.4 million. Continued...
http://www.chemweek.com/regions/north_america/Cabot-Micro-beats-estimates-despite-lower-volumes_76737.html
January 28, 2016
PotashCorp reports fiscal fourth-quarter net income down nearly 50% year-on-year (YOY), to $201 million, mostly due to weaker fertilizer prices in late 2015 and lower sales volumes...
http://www.chemweek.com/regions/north_america/PotashCorp-income-sales-down_76732.html
January 28, 2016
Methanex (Vancouver) reports net income for the fourth quarter of $11 million, down 92% year-over-year (YOY) from $140 million. Revenue fell 34% YOY to $484 million on a steep decline in methanol prices, the result of falling crude oil values and new production capacity. Adjusted earnings of 16 cts/share, down from 85 cts/share in the year-ago period and just shy of the average analyst estimate of 17 cts/share, as compiled by Thomson Reuters (New York)....
http://www.chemweek.com/regions/north_america/canada/Methanex-earnings-down-92-percent-YOY-on-steep-price-decline_76727.html
January 28, 2016
Sherwin-Williams (SW) today reported fourth quarter net income up 49.2% year-on-year (YOY), to $198.0 million, as architectural paint volumes rose and costs declined, offsetting...
http://www.chemweek.com/regions/north_america/Sherwin-Williams-beats-estimates-on-lower-costs-higher-volumes_76728.html
January 28, 2016
The Environmental Protection Agency has recently registered BASF’s Systiva XS seed treatment fungicide, which helps US sugar beet growers prevent certain soilborne diseases. The...
http://www.chemweek.com/regions/north_america/EPA-approves-BASFs-seed-treatment-fungicide_76725.html
January 27, 2016
US nonfuel-use propylene inventory increased 3% during the week ended 22 January, according to data the Energy Information Administration released on Wednesday. The gain is the first time in four weeks that the inventory has moved significantly....
http://www.chemweek.com/regions/north_america/us/US-propylene-stocks-make-first-gain-of-2016_76705.html
January 27, 2016
During the week ended 23 January, chemical railcar traffic in North America fell 4.4% year-on-year (YOY), to 41,090 carloads, the result of declines across the region, according to data  the Association of American Railroads released on 27 January....
http://www.chemweek.com/regions/north_america/North-America-weekly-chemical-rail-traffic-drops-4-4-percent-YOY_76704.html
January 27, 2016
Ascend Performance Materials (Houston) announced Wednesday that it will focus on direct-to-market sales of its dimethyl ester (DME) products, ending its relationship with its largest...
http://www.chemweek.com/regions/north_america/Ascend-ends-relationship-with-DME-distributor-focuses-on-in-house-sales_76703.html
January 27, 2016
Merck KGaA (Darmstadt, Germany) has announced two appointments in its biopharma business. Gary Zieziula leads Merck’s biopharma business in North America, and Marc Horn will...
http://www.chemweek.com/regions/north_america/Merck-announces-biopharma-personnel-changes_76701.html
January 27, 2016
The US chemical industry is expected to feel the impact of slow global growth, low commodity prices and the strong dollar, according to a new report by Moody’s Investors Service...
http://www.chemweek.com/regions/north_america/Moodys-Macro-trends-a-problem-for-parts-of-US-chemical-industry_76706.html
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