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May 8, 2015
Leaving the European Union could cost the United Kingdom €300 billion ($338.5 billion), slashing 14% off the country’s GDP, or €4,850 per capita, according to a report...
http://www.chemweek.com/sections/business_finance/usa_americas/German-think-tank-UK-chems-would-be-hard-hit-by-EU-exit_70171.html
May 8, 2015
Showa Denko says that, in May, it will establish a company that will take over Showa Denko’s phenolic resins business. Showa Denko will transfer 85% of the shares in the new...
http://www.chemweek.com/sections/business_finance/asia_pacific/Showa-Denko-to-sell-phenolic-resins-business-to-Aica-Kogyo_70149.html
May 8, 2015
Dow Chemical will be cutting 1,500–1,700 positions, about 3% of its global workforce, to streamline operations as a result of the pending divestment of most of its chlor-alkali assets. The company also plans “minor” adjustments to its manufacturing assets, it says....
http://www.chemweek.com/sections/business_finance/usa_americas/Dow-to-cut-global-workforce-by-3-percent-over-next-two-years_70205.html
May 8, 2015
Reforming the outdated US chemical management policy took a step closer to a full Senate vote as the bipartisan Frank R. Lautenberg Chemical Safety Act passed through the Senate Committee on Environment and Public Works (EPW) on 28 April. A vote before the full Senate is expected in the coming weeks....
http://www.chemweek.com/sections/business_finance/usa_americas/TSCA-reform-bill-heads-to-Senate-floor_70225.html
May 8, 2015
FDA has issued a proposed rule requesting additional scientific data on the safety and effectiveness of certain active ingredients used in OTC health-care antiseptics. FDA says...
http://www.chemweek.com/sections/business_finance/usa_americas/FDA-taking-closer-look-at-OTC-antiseptics_70226.html
May 8, 2015
Steep year-on-year (YOY) declines in net income predominated in the first-quarter results of North American commodity producers reporting since late April. Westlake says conversions to...
http://www.chemweek.com/sections/business_finance/usa_americas/Tough-quarter-for-North-American-commodity-makers_70230.html
May 8, 2015
Leading Europe-based chemical companies started 2015 solidly, achieving big increases in first-quarter sales and, in some cases, strong growth in earnings. The weaker euro, which makes...
http://www.chemweek.com/sections/business_finance/europe_mideast/Weaker-euro-boosts-leading-companies-revenue_70146.html
May 8, 2015
The Biotechnology Industry Organization (BIO; Washington) says that it welcomes the European Commission’s recent decision to approve several genetically modified organisms (GMOs) for...
http://www.chemweek.com/sections/business_finance/europe_mideast/BIO-welcomes-European-Commissions-GMO-approvals_70206.html
May 8, 2015
Saudi Aramco has confirmed that Khalid Al Falih has been appointed chairman and has named Amin Nasser as acting president and CEO. Nasser is a member of the board of Aramco, the world’s largest oil producer, and has held the position of senior v.p./upstream since 2008....
http://www.chemweek.com/sections/business_finance/europe_mideast/Aramco-names-new-CEO-to-be-separated-from-oil-ministry_70207.html
May 8, 2015
AkzoNobel has finalized the €153-million ($170.4 million) divestment of its global paper chemicals business to Kemira. The deal was first announced in July 2014. The acquired...
http://www.chemweek.com/sections/business_finance/europe_mideast/AkzoNobel-completes-sale-of-paper-chemicals-to-Kemira_70208.html
May 8, 2015
The chemical businesses of Sinopec and PetroChina each reports improved financial results for the first quarter of 2015. Sinopec’s chemicals business swung to a profit, and...
http://www.chemweek.com/sections/business_finance/asia_pacific/Sinopec-PetroChina-chemical-units-report-improved-results_70147.html
May 8, 2015
Celanese says that it has begun constructing a vinyl acetate ethylene (VAE) emulsions production plant at the company’s acetyls facility at Jurong Island, Singapore....
http://www.chemweek.com/sections/business_finance/asia_pacific/Celanese-chooses-Singapore-for-VAE-emulsions-project_70148.html
May 8, 2015
first-quarter chemical earnings of North American oil companies reflect weaker US margins in the petrochemicals market. ExxonMobil reports first-quarter earnings for its chemical...
http://www.chemweek.com/sections/business_finance/usa_americas/Oil-companies-report-mixed-first-quarter-chemical-earnings_70231.html
May 8, 2015
BASF says that Wayne Smith is the new chairman and CEO of its North American subsidiary, effective 1 May....
http://www.chemweek.com/sections/business_finance/usa_americas/BASF-appoints-CEONorth-America_70232.html
May 8, 2015
PQ has named George Biltz president and CEO, effective 1 May. Biltz succeeds Michael Boyce, who will continue to serve as PQ chairman. PQ is a leading producer of silicates, specialty...
http://www.chemweek.com/sections/business_finance/usa_americas/PQ-confirms-new-CEO-former-CEO-remains-chair_70233.html
May 8, 2015
First-quarter specialty chemical results largely withstood negative currency impacts, with many companies reporting higher earnings despite lower sales. Solid results in Ecolab’s...
http://www.chemweek.com/sections/business_finance/usa_americas/Specialty-earnings-hold-up-despite-currency-impacts_70234.html
May 8, 2015
Cargill has acquired the fermentation-based processes and systems of OPX Biotechnologies (OPXBio; Boulder, CO), an industrial biotechnology firm that had been working on a biobased...
http://www.chemweek.com/sections/business_finance/usa_americas/Cargill-acquires-OPX-Biotechnologies_70235.html
May 8, 2015
Westlake Chemical Partners (Westlake Partners; Houston) acquired approximately 2.7% of additional limited partner interest in Westlake Chemical OpCo (OpCo) for approximately $135 million. The...
http://www.chemweek.com/sections/business_finance/usa_americas/Westlake-Partners-ups-interest-in-cracker-pipeline-affiliate_70236.html
May 8, 2015
Market sources have said this week that competitive propane and butane steam cracking economics and high propylene inventory levels opposite strengthening crude oil prices were leading...
http://www.chemweek.com/sections/business_finance/usa_americas/Mixed-fundamentals-a-factor-ahead-of-May-propylene-contract-settlement_70193.html
May 8, 2015
Dow Chemical's Taft, LA, no. 1 ethylene unit is expected to come back online by next week, according to market participants. The no.1 ethylene unit went down in late March for planned...
http://www.chemweek.com/sections/business_finance/usa_americas/Dows-Louisiana-ethylene-unit-still-set-for-early-May-restart_70192.html
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