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February 28, 2014
Frutarom (Haifa, Israel) announced last week that it has acquired citrus specialty ingredients maker CitraSource (Winter Haven, FL) for $7.5 million plus an additional future payment...
http://www.chemweek.com/sections/business_finance/usa_americas/Frutarom-acquires-Florida-citrus-ingredients-maker_59184.html
February 28, 2014
Most of the leading Asian chemical companies report lower earnings for the quarter ended 31 December 2013. Only SK Global Chemical, the petrochemical business of SK Innovation (Seoul); and SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), report an increase in profits for the period....
http://www.chemweek.com/sections/business_finance/asia_pacific/Asian-chemical-companies-report-lower-earnings_59169.html
February 28, 2014
Ferro says that it is altering the structure of its board, eliminating staggered terms for directors, and eliminating cumulative voting. The board also will appoint Peter Thomas, current president and CEO of Ferro, chairman, replacing Bill Lawrence....
http://www.chemweek.com/sections/business_finance/usa_americas/Ferro-CEO-adds-chairman-title-earnings-swing-to-profit_59178.html
February 28, 2014
Imerys says it has raised its bid for bentonite maker Amcol (Hoffman Estates, IL) to $42.75/share from $41/share, exceeding Minerals Technologies’ (MTI) $42.50/share offer, which...
http://www.chemweek.com/sections/business_finance/usa_americas/Imerys-raises-Amcol-bid-to-$42-50share-exceeding-MTI-bid_59204.html
February 28, 2014
Braskem has revised the price of its stock tender offer to minority shareholders of polyvinyl chloride (PVC) manufacturer Solvay Indupa (Buenos Aires) to 2.40 Argentine pesos/share, an...
http://www.chemweek.com/sections/business_finance/usa_americas/Braskem-raises-offer-for-Indupa-by-78-percent_59205.html
February 28, 2014
Sensient Technologies, in late February, released a letter to shareholders criticizing the motives of activist hedge fund FrontFour Capital (New York), which proposed a slate of directors to Sensient’s board on 19 February....
http://www.chemweek.com/sections/business_finance/usa_americas/Sensient-blasts-hedge-fund-in-proxy-fight_59206.html
February 27, 2014
Petrochemical producer TVK (Tiszaújváros, Hungary) says that its operating profit in fourth-quarter 2013 was 411 million forint ($1.82 million) compared with a loss of...
http://www.chemweek.com/sections/business_finance/TVK-reports-rise-in-profitability-sales_59076.html
February 26, 2014
The European Food Safety Authority (EFSA; Pisa, Italy) has announced that it will hold a public scientific meeting on bisphenol A (BPA), to take place at Brussels on 23 April. The aim...
http://www.chemweek.com/sections/business_finance/europe_mideast/EFSA-to-hold-public-scientific-meeting-on-BPA_59119.html
February 24, 2014
The European Chemicals Agency (ECHA; Helsinki) has called for testing proposals on 45 substances. A total of 68 hazard endpoints for vertebrate testing have been requested, including...
http://www.chemweek.com/sections/business_finance/europe_mideast/ECHA-calls-for-testing-proposals-on-various-substances_59043.html
February 24, 2014
The European Council decided today not to oppose a proposal from the European Commission to delay the auctioning—backloading—of carbon dioxide emission permits in the...
http://www.chemweek.com/sections/business_finance/europe_mideast/European-Council-will-not-oppose-backloading-of-greenhouse-gas-allowances_59042.html
February 21, 2014
Early-reporting European companies struggled to improve sales and earnings in the fourth quarter of 2013. Adverse currency effects and continued economic uncertainty in Europe hindered...
http://www.chemweek.com/sections/business_finance/europe_mideast/Economic-headwinds-stifle-fourth-quarter-results_58968.html
February 21, 2014
Minerals Technologies (MTI) on 14 February launched a $42/share unsolicited bid for minerals firm Amcol International (Hoffman Estates, IL), setting in motion a possible bidding war with Imerys, which agreed to acquire Amcol on 12 February for about $1.6 billion, or $41/share, including debt. MTI’s bid would value Amcol at about $1.63 billion. MTI says the deal would be immediately accretive to the company’s earnings and could close during the first half of this year....
http://www.chemweek.com/sections/business_finance/usa_americas/Minerals-Technologies-launches-bid-for-Amcol_58958.html
February 21, 2014
Phillips 66’s board has approved the Sweeny Fractionator One project, which will produce purity natural gas liquids; and the Freeport, TX, liquefied petroleum gas (LPG) export...
http://www.chemweek.com/sections/business_finance/usa_americas/Phillips-66-to-proceed-with-$3-billion-in-NGL-projects_58959.html
February 21, 2014
Toray Industries says it has purchased about 400 acres of commercial land in Spartanburg County, SC, for its future business expansion in the United States. Toray, which already...
http://www.chemweek.com/sections/business_finance/usa_americas/Toray-buys-land-in-South-Carolina-will-invest-about-$1-billion-in-US_58960.html
February 21, 2014
Perstorp (Perstorp, Sweden) says it has introduced a business model that includes a new organizational structure and new management team together with a cost-competitiveness program...
http://www.chemweek.com/sections/business_finance/europe_mideast/Perstorp-restructures-cuts-jobs_58927.html
February 21, 2014
Versalis (Milan) and its parent, ENI (Rome), have reached an agreement with trade unions on a project to redesign the production facilities at Versalis’s Porto Marghera, Italy, site, near Venice, ENI says....
http://www.chemweek.com/sections/business_finance/europe_mideast/Versalis-to-convert-Italian-site-close-UK-rubbers-facility_58928.html
February 21, 2014
Altana (Wesel, Germany) says it has acquired DSM’s polypropylene (PP) wax emulsions business. The deal includes technology and customer-specific know-how, Altana says. The...
http://www.chemweek.com/sections/business_finance/europe_mideast/Altana-acquires-DSMs-PP-wax-emulsions-business_58967.html
February 21, 2014
The European Commission is set to approve cultivation of DuPont’s 1507, a genetically modified (GM) maize, after 28 EU member-state representatives were unable to reach a...
http://www.chemweek.com/sections/business_finance/usa_americas/EU-set-to-okay-DuPont-biotech-seed_58975.html
February 21, 2014
Specialty chemical companies report earnings that mostly beat analysts’ expectations on stronger conditions in key end markets, such as coatings and flavors. International...
http://www.chemweek.com/sections/business_finance/usa_americas/Specialty-earnings-mostly-ahead-of-estimates_58976.html
February 21, 2014
Two activist New York hedge funds have made new moves to assert influence over the strategic direction of Williams Companies (Tulsa, OK), increasing their stake in the firm and hiring...
http://www.chemweek.com/sections/business_finance/usa_americas/Activist-hedge-funds-increase-stake-in-Williams-Companies_58977.html
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