IHS Chemical Week

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October 28, 2014

Huntsman reports third-quarter net income of $188 million, up 194% year-over-year (YOY) from $64 million, on sales of $2.9 billion, up 1.5% YOY. A tax benefit from foreign tax credit elections boosted net income by $94 million. Adjusted earnings increased 11% YOY to 60 cents/share, beating the analysts’ consensus estimate of 53 cents/share reported by Thomson Reuters.

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http://www.chemweek.com/regions/north_america/us/Huntsman-triples-quarterly-income-beats-estimates_64816.html
October 28, 2014
Cronus Chemical (Chicago) has chosen a site in eastern Illinois for the company's previously announced $1.4-billion fertilizer plant and plans to establish its US headquarters in...
http://www.chemweek.com/regions/north_america/us/Report-Cronus-Chemical-selects-site-in-Illinois-for-$1-4-billion-fertilizer-complex_64848.html
October 28, 2014
Sasol has made a final decision to proceed with an $8.1-billion ethane cracker and derivatives project at its Lake Charles, LA, site. It will be the company’s largest-ever investment outside South Africa. The project will include units for the production of ethylene derivatives polyethylene, ethylene oxide, ethylene glycol, and a variety of specialty alcohols and ethoxylates, but plans to include an alpha olefins unit have been postponed....
http://www.chemweek.com/regions/north_america/us/Sasol-gives-final-go-ahead-to-$8-1-billion-Louisiana-investment-Updated_64813.html
October 27, 2014
The board of executive directors of BASF has announced a number of personnel changes. Gabriel Tanbourgi, president/care chemicals, will retire on 31 December. He will be succeeded by...
http://www.chemweek.com/regions/north_america/us/BASF-announces-several-personnel-changes_64807.html
October 27, 2014
Biopharmaceuticals group CSL (Parkville, Australia) announced today that it has agreed to acquire Novartis’s global influenza vaccine business for $275 million. The business will...
http://www.chemweek.com/regions/north_america/us/CSL-to-buy-Novartiss-flu-vaccines-business-creating-a-global-leader_64806.html
October 27, 2014
Celanese says that its Celanese Japan (Tokyo) subsidiary, and Setsunakasei (Setsunan; Osaka, Japan), have signed a letter of intent to pursue an agreement whereby Setsunan will...
http://www.chemweek.com/regions/north_america/us/Celanese-and-Setsunan-to-enter-compounding-agreement_64801.html
October 24, 2014
DuPont has named James Collins and Matthew Trerotola as executive v.p.'s  and members of the company’s office of the chief executive, effective 1 December. The company has also announced that Thomas Connelly, executive v.p. and chief innovation officer, will retire at year end....
http://www.chemweek.com/regions/north_america/us/DuPont-names-executive-v-p-s-chief-innovation-offier-to-retire_64787.html
October 24, 2014
Weak chlor-alkali demand continues to take a toll on Olin’s quarterly results, but the company expects improvement in the fourth quarter. Olin reports third-quarter net income of $26 million, down 63% year-over-year (YOY) from $70 million. Sales totaled $594 million, down 11% YOY from $671 million. Adjusted earnings per share of 42 cents equaled the analysts’ consensus estimate reported by Thomson Reuters....
http://www.chemweek.com/regions/north_america/us/Olin-third-quarter-earnings-fall-63-percent-on-continued-weak-chlor-alkali_64790.html
October 24, 2014
Dahai Yu, former board member of Evonik Industries, has joined private equity group Advent International as an operating partner. Yu lost his job at Evonik last year when the company...
http://www.chemweek.com/regions/north_america/us/Former-Evonik-board-member-becomes-operating-partner-at-Advent-International_64775.html
October 24, 2014
The US Environmental Protection Agency (EPA) has proposed to remove 72 chemicals from its list of substances approved for use as inert ingredients in pesticide products. The move is in...
http://www.chemweek.com/regions/north_america/us/EPA-proposes-to-remove-72-chemicals-from-approved-pesticide-inert-ingredient-list_64785.html
October 24, 2014
LyondellBasell reports third-quarter net income of $1.257 billion, up 48% year-over-year (YOY) from $851 million. Sales totaled $12.066 billion, an 8% YOY increase from $11.152 billion. At $2.45, diluted earnings per share were well ahead of the analysts’ consensus estimate of $2.29 reported by Thomson Reuters....
http://www.chemweek.com/regions/north_america/us/LyondellBasell-third-quarter-income-up-48-percent-YOY-on-Americas-olefins-and-polyolefins_64789.html
October 24, 2014
Westlake says it will invest over $330 million to expand ethylene capacity at its facility in Lake Charles, LA, by 250 million lbs/year and to make other capital improvements. The company expects to complete the expansion in late 2015 or early 2016....
http://www.chemweek.com/regions/north_america/us/Westlake-plans-$330-million-ethylene-expansion-improvements-at-Lake-Charles_64738.html
October 23, 2014
OxyChem, the chemical segment of Occidental Petroleum, has reported pre-tax earnings for the third quarter of $140 million, down 23% year-on-year from $181 million. The company attributes the decrease to lower caustic soda prices driven by new chlor-alkali capacity, as well as lower overall margins resulting from higher ethylene and natural gas costs....
http://www.chemweek.com/regions/north_america/us/OxyChem-third-quarter-earnings-drop-23-percent-on-lower-prices-higher-costs_64717.html
October 23, 2014
Sensient Technologies today reported third-quarter net earnings down 32.4% year-on-year (YOY), to $21.3 million, on sales down 1.6%, to $364.5 million. Adjusted earnings from...
http://www.chemweek.com/regions/north_america/us/Sensient-Technologies-net-earnings-decline-adjusted-earnings-beat-estimates_64771.html
October 23, 2014
Minerals Technologies (MTI) today reported net income up 69% year-on-year (YOY), to $37 million, on sales up 114%, to $543.5 million. The large increase in sales was mostly due to the...
http://www.chemweek.com/regions/north_america/us/Minerals-Technologies-earnings-beat-estimates_64770.html
October 23, 2014
PolyOne today reported third-quarter net income from continuing operations up 39.2% year-on-year (YOY), to $32.3 million, on sales down 4.3%, to $958 million. Sales fell because the...
http://www.chemweek.com/regions/north_america/us/PolyOne-earnings-rise-on-higher-sales_64766.html
October 23, 2014
As the US market changes specifications for gasoline for the winter season, cheaper year-on-year (YOY) butane prices are likely to push more mixed xylenes (MX) into the chemical...
http://www.chemweek.com/regions/north_america/us/US-gasoline-spec-changes-lower-Asian-demand-to-soften-aromatics-prices_64754.html
October 23, 2014
IFF says it has elected Michael Ducker, president/international and COO of FedEx Express, a part of shipping company FedEx, (Memphis, TN) to its board of directors, effective...
http://www.chemweek.com/regions/north_america/us/IFF-elects-new-director_64718.html
October 23, 2014
Airgas reports a 6% year-over-year (YOY) increase in sales, to $1.36 billion for the quarter ended 30 September, with acquisitions, gas and rent, and hardgoods contributing to growth...
http://www.chemweek.com/regions/north_america/us/Airgas-reports-4-percent-earnings-growth_64716.html
October 23, 2014
SAFC Commercial, the custom-manufacturing and services business unit of Sigma-Aldrich (St. Louis), reports a 2.4% increase in sales in the third quarter of 2014 compared with the...
http://www.chemweek.com/regions/north_america/us/SAFC-reports-rise-in-third-quarter-sales_64701.html
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