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March 21, 2014
DuPont’s ongoing transformation has the company more clearly focused on opportunities in the agriculture and food and nutrution value chain, DuPont’s executive v.p. and CIO, Thomas Connelly, told attendess at the 19 March Société de Chimie Industrielle—America’s meeeting in New York....
http://www.chemweek.com/sections/business_finance/usa_americas/DuPont-sharpens-focus-on-ag_59722.html
March 21, 2014
Sinopec has signed a long-term contract to purchase propane from Phillips 66 for use as chemical feedstock. Sinopec has not released details of the contract.“This is a mutually...
http://www.chemweek.com/sections/business_finance/usa_americas/Sinopec-signs-feedstock-propane-export-deal-with-Phillips-66_59723.html
March 21, 2014
W.R. Grace said last week that it is targeting 8-10% growth in Ebit, and sales growth of 1.5-2 times (x) GDP from 2014 through 2018....
http://www.chemweek.com/sections/business_finance/usa_americas/Grace-sets-8-10-percent-earnings-growth-target-through-2018_59724.html
March 21, 2014
FMC expects first-quarter 2014 operating profit in its agricultural solutions segment to decline in the mid-20% range year-on-year because of cold weather in North America constricting...
http://www.chemweek.com/sections/business_finance/usa_americas/FMC-predicts-weaker-ag-results-due-to-cold-weather_59734.html
March 21, 2014
LG Chem, in a filing to the Korea Exchange (Seoul), says that it has agreed to purchase NanoH2O (El Segundo, CA) for $200 million. The acquisition has been approved by LG Chem’s...
http://www.chemweek.com/sections/business_finance/usa_americas/LG-Chem-acquires-NanoH2O_59735.html
March 21, 2014
Sensient Technologies last week released a letter to shareholders outlining its opposition to hedge fund FrontFour Capital’s (New York) slate of four director nominees....
http://www.chemweek.com/sections/business_finance/usa_americas/Sensient-releases-letter-opposing-dissident-nominees_59736.html
March 19, 2014
DuPont said on 10 March that it still expects to post full-year 2014 operating earnings of $4.20-4.45/share despite “challenged” first-quarter earnings and revenue growth due to winter storms in North America and business disruptions in Ukraine....
http://www.chemweek.com/sections/business_finance/usa_americas/DuPont-sees-challenged-first-quarter-but-maintains-forecast_59577.html
March 14, 2014
Shin-Etsu (Tokyo) is studying plans to build a world-scale ethylene plant in the United States, executive chairman Chihiro Kanagawa tells CW....
http://www.chemweek.com/sections/business_finance/usa_americas/Shin-Etsu-evaluating-US-ethylene-investment_59581.html
March 14, 2014
Bayer MaterialScience (BMS) says it has acquired DuPont’s Baytown, TX, aniline production plant. Financial terms have not been disclosed. Aniline is a key feedstock used to...
http://www.chemweek.com/sections/business_finance/usa_americas/Bayer-MaterialScience-buys-DuPonts-Baytown-aniline-plant_59551.html
March 14, 2014
Gary Kubera, president, CEO, and director of Canexus (Calgary, AB), has resigned, effective immediately, the company announced on 6 March. The move follows news that the company’s...
http://www.chemweek.com/sections/business_finance/usa_americas/Canexus-CEO-resigns-amid-cost-overrun-share-decline_59552.html
March 14, 2014
Sensient Technologies has announced plans for further restructuring to improve profitability and margins in its flavors and fragances segment....
http://www.chemweek.com/sections/business_finance/usa_americas/Sensient-plans-further-flavors-restructuring-share-buyback_59553.html
March 14, 2014
Shareholder activism in the chemical industry should continue as the economic climate improves and companies maintain large amounts of cash, according to a report by credit rating...
http://www.chemweek.com/sections/business_finance/usa_americas/Moodys-Cash-balances-feedstock-advantage-spur-activism_59555.html
March 14, 2014
Minerals Technologies Inc. (MTI) has reached an agreement to buy Amcol (Hoffman Estates, IL) for about $1.7 billion, or $45.75/share in cash, outbidding Imerys....
http://www.chemweek.com/sections/business_finance/usa_americas/Minerals-Technologies-wins-bidding-for-Amcol_59556.html
March 14, 2014
Evonik Industries has acquired Silbond (Weston, MI), a leading supplier of silicic acid esters. The purchase price was in the mid-double-digit million-euro range. Silicic acid esters...
http://www.chemweek.com/sections/business_finance/usa_americas/Evonik-acquires-Silbond-a-producer-of-silicic-acid-esters_59557.html
March 14, 2014
Dow Chemical says it will build an R&D facility at Lake Jackson, TX, near to the company’s largest manufacturing site, at Freeport, TX. The center will replace several of the...
http://www.chemweek.com/sections/business_finance/usa_americas/Dow-to-build-R-and-D-facility-in-Texas_59578.html
March 14, 2014
Edge Adhesives (Fort Worth, TX) has been sold to private equity firms Akoya Capital Partners (Chicago) and Gladstone Investment (McLean, VA), the companies say. Edge’s previous...
http://www.chemweek.com/sections/business_finance/usa_americas/Edge-Adhesives-changes-private-equity-owners_59579.html
March 14, 2014
One Equity Partners (New York) has closed on its $200-million purchase of FMC’s hydrogen peroxide (H2O2) business, renaming it PeroxyChem. PeroxyChem's main markets are large...
http://www.chemweek.com/sections/business_finance/usa_americas/One-Equity-closes-on-purchase-of-FMCs-peroxygens-business_59580.html
March 14, 2014
Ecolab has announced the acquisition of AK Kraus & Hiller Schädlingsbekämpfung (Allershausen, Germany). Kraus & Hiller had annual sales of approximately $4 million and is one...
http://www.chemweek.com/sections/business_finance/usa_americas/Ecolab-acquires-pest-firm_59569.html
March 14, 2014
Ashland says it will close its unsaturated polyester resin (UPR) and gelcoats manufacturing plant at Kelowna, BC, effective 27 June. Six other sites in North America will continue to...
http://www.chemweek.com/sections/business_finance/usa_americas/Ashland-shuts-UPR-gelcoats-plant_59570.html
March 14, 2014
Cytec Industries says it has opened an expanded office and lab facility for mining chemicals at Santiago. The facility houses sales, technical service, and support experts. “The...
http://www.chemweek.com/sections/business_finance/usa_americas/Cytec-opens-mining-R-and-D-center_59571.html
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