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May 9, 2014
Activist hedge fund Third Point, led by investor 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....
http://www.chemweek.com/sections/business_finance/usa_americas/Third-Point-sharpens-criticism-of-Dows-petchem-strategy_60917.html
May 9, 2014
Nova Chemicals CEO Randy Woelfel has left the company after failing to reach agreement on a contract extension, a company official says. Nova has named CFO Todd Karran as acting CEO and has started the search for a permanent replacement. The search will include both internal and external candidates, Nova says....
http://www.chemweek.com/sections/business_finance/usa_americas/Nova-Chemicals-CEO-exits-after-failing-to-agree-on-contract_60918.html
May 9, 2014
Westlake Chemical has announced plans to carve out its ethylene assets into a tax-advantaged, separately traded master limited partnership (MLP), according to regulatory filings. The...
http://www.chemweek.com/sections/business_finance/usa_americas/Westlake-to-place-ethylene-assets-in-limited-partnership_60919.html
May 9, 2014
Dow Chemical said on 30 April that ethylene supply from its Plaquemine, LA, facility will be curtailed for three to four weeks, and benzene supply for more than five weeks. Two...
http://www.chemweek.com/sections/business_finance/usa_americas/Dow-Plaquemine-ethylene-supply-curtailed-for-34-weeks_60920.html
May 9, 2014
Invista and Solvay announced late in April that they have signed a settlement resolving disputes related to adiponitrile (ADN) intellectual property and technology used in Butachimie...
http://www.chemweek.com/sections/business_finance/usa_americas/Invista-and-Solvay-settle-ADN-joint-venture-dispute_60926.html
May 9, 2014
BASF is considering constructing a world-scale methane-to-propylene plant on the US Gulf Coast. BASF says it would be the sole owner of the plant, which would support the expansion of...
http://www.chemweek.com/sections/business_finance/usa_americas/BASF-mulls-methane-to-propylene-plant-on-US-Gulf_60927.html
May 9, 2014
BioAmber (Montreal) has signed its first take-or-pay contract for biosuccinic acid, the company says. The company will be the principal supplier of biobased succinic acid to PTT MCC...
http://www.chemweek.com/sections/business_finance/usa_americas/BioAmber-signs-contract-for-biobased-succinic-acid_60928.html
May 9, 2014
Lion Copolymer (Geismar, LA) has completed an engineering study for the addition of an ethylene propylene diene monomer (EPDM) production line at its facility at Geismar. The company...
http://www.chemweek.com/sections/business_finance/usa_americas/Lion-Copolymer-plans-new-EPDM-line-considers-share-of-cracker_60930.html
May 9, 2014
ACC has released a set of chemical hazard and risk-assessment principles designed to provide “obtainable, high-level benchmarks” to help federal programs produce more scientifically sound and timely chemical assessments....
http://www.chemweek.com/sections/business_finance/usa_americas/ACC-announces-principles-to-guide-chemical-assessments_60932.html
May 1, 2014
New technologies; an integrated approach to crop management; and harmonized, science-based regulatory regimes are necessary to help the agricultural industry meet the daunting task of feeding the world’s fast-growing and increasingly middle-class population, according to James Blome, president and CEO of BayerCropscience....
http://www.chemweek.com/sections/business_finance/usa_americas/Emerging-issues-in-agriculture-can-be-met-with-innovation_60586.html
April 25, 2014
PotashCorp reports first-quarter net income of $340 million, down 38% year-on-year (YOY). Earnings were 40 cts/share, above analyst estimates of 35 cts/share, according to Thomson...
http://www.chemweek.com/sections/business_finance/usa_americas/PotashCorp-reports-earnings-drop-raises-full-year-guidance_60578.html
April 25, 2014
Specialty chemical earnings have mostly beat estimates on volume gains. Bad weather hurt W.R. Grace’s results, although the company beat analysts’ expectations. 3M’s...
http://www.chemweek.com/sections/business_finance/usa_americas/Specialty-earnings-solid-across-various-end-markets_60579.html
April 25, 2014
The Chlorine Institute (CI) and ACC have asked the US District Court for the District of Minnesota to prevent Canadian Pacific Railway (CP) from imposing a restrictive new requirement...
http://www.chemweek.com/sections/business_finance/usa_americas/ACC-Chlorine-Institute-sue-to-stop-railroad-from-imposing-shipping-restrictions_60549.html
April 25, 2014
ACC on 22 April said its April monthly chemical activity barometer (CAB) reached its highest level since March 2008. On a three-month moving average basis, the April CAB grew 0.5% over...
http://www.chemweek.com/sections/business_finance/usa_americas/ACC-CAB-at-highest-level-since-2008_60580.html
April 25, 2014
Ashland chairman and CEO James O’Brien will retire at the end of this year, the company says. O’Brien became CEO at Ashland in 2002 and oversaw two major acquisitions...
http://www.chemweek.com/sections/business_finance/usa_americas/Ashland-CEO-to-retire-at-end-of-December_60581.html
April 25, 2014
CF Industries announced that its Woodward, OK, nitrogen complex is currently off-line because of a problem in one of the boilers. All of the plants in the complex have been safely shut...
http://www.chemweek.com/sections/business_finance/usa_americas/CF-shuts-down-nitrogen-complex-after-boiler-problem_60573.html
April 25, 2014
Five members of ACC’s Silicones Environmental, Health, and Safety Center (SEHSC) have reached an agreement with EPA on the environmental monitoring of the siloxane D4, an...
http://www.chemweek.com/sections/business_finance/usa_americas/Silicone-producers-EPA-agree-on-program-to-monitor-siloxane-D4_60575.html
April 25, 2014
Verdezyne (Carlsbad, CA) announced on 21 April that it has completed production of over one m.t. of biobased dodecanedioic acid (DDDA) using its proprietary yeast-strain biobased...
http://www.chemweek.com/sections/business_finance/usa_americas/Verdezyne-completes-biobased-monomer-production_60587.html
April 21, 2014
DuPont reports first-quarter operating earnings of $1.5 billion, up 1% year-on-year (YOY). Weak agricultural results offset gains across other segments. Operating earnings of...
http://www.chemweek.com/sections/business_finance/usa_americas/DuPont-earnings-up-1-percent-despite-revenue-slip-on-weak-ag-results_60409.html
April 17, 2014
Platform Specialty Products (Miami) has entered into a definitive agreement to acquire Chemtura’s pesticides business for $1 billion. The price consists of $950 million in cash plus 2 million shares of Platform common stock....
http://www.chemweek.com/sections/business_finance/usa_americas/Platform-acquires-Chemturas-agchems-business-for-$1-billion_60408.html
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