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February 24, 2015LyondellBasell said today that it has reached an agreement with Karyn Ovelmen, executive v.p. and CFO, for her “separation from the company.” Ovelmen will continue as CFO for up to three months under the agreement while the company conducts a search for her successor....
February 20, 2015Braskem’s second six-month contract covering naphtha feedstock supplies from Petrobras expires at the end of February. Braskem does not anticipate agreeing on a long-term feedstock contract before then given Petrobras’s leadership changes that were announced earlier in the month, said Carlos Fadigas, CEO of Braskem, during the company’s fourth-quarter financial results call....
February 20, 2015Braskem swung to a net loss of 24.0 million reais ($8.4 million) during the last quarter of 2014; the company broke even in the same quarter of 2013. However, for the whole of 2014...
February 20, 2015Olin said on 10 February that a portion of its McIntosh, AL, facility was unable to return to full operations following a planned maintenance outage. “This outage will impact our...
February 20, 2015Specialty chemical earnings are once again mixed, with solid growth in some markets and softness in others. International Flavors & Fragrances (IFF) reports solid results across...
February 20, 2015The immediate effect of declining crude oil prices on the petrochemical market has been destocking and a pause in investment, but in the longer term demand will surge past earlier...
February 20, 2015Quinpario Acquisition 2, the new blank-check fund formed by former Solutia CEO Jeffry Quinn, is eyeing Arsenal Capital’s Royal Adhesives & Sealants (South Bend, IN), in a...
February 20, 2015The United Steelworkers (USW; Pittsburgh) union and Royal Dutch Shell restarted negotiations 18 February regarding a new three-year labor contract agreement. USW is still seeking...
February 20, 2015Recent commodity earnings reports reflect a difficult fourth quarter, but the companies present an optimistic outlook for 2015. Huntsman swung to a loss on lower earnings from the...
February 20, 2015Yara International and BASF have given final approvals to build a previously announced; 750,000-m.t./year ammonia plant at BASF’s site at Freeport, TX. The companies first announced plans for the project in October 2013. The plant is expected to be completed by the end of 2017. Total capital investment for the plant is estimated at $600.0 million....