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April 26, 2013
ACC has urged the Office of Management and Budget to exercise its oversight role to ensure that the US Consumer Product Safety Commission (CPSC) applies the peer-review process for its...
http://www.chemweek.com/sections/business_finance/usa_americas/ACC-calls-for-peer-review-of-pending-phthalates-study_51514.html
April 16, 2013
LyondellBasell Industries and Phillips 66 have separately announced plans to add natural gas liquid (NGL) fractionation capacity at sites in Texas. LyondellBasell says TexStar...
http://www.chemweek.com/sections/business_finance/usa_americas/LyondellBasell-Phillips-66-plan-new-NGL-fractionation-capacity-in-Texas_51139.html
April 16, 2013
Ecolab last week closed on its $2.3-billion acquisition of Champion Technologies. The company secured US antitrust approval for the deal when it agreed to sell a Champion chemical...
http://www.chemweek.com/sections/business_finance/usa_americas/Ecolab-closes-Champion-deal-to-sell-deepwater-unit-to-Clariant_51109.html
April 15, 2013
PPG Industries has completed the $1.05-billion purchase of AkzoNobel’s North American architectural coatings business. The acquired business had 2012 sales of €1.19 billion...
http://www.chemweek.com/sections/business_finance/usa_americas/PPG-completes-AkzoNobel-decorative-coatings-acquisition_51140.html
April 15, 2013
Brazil has launched two investigations into the possible dumping in the Brazilian market of polypropylene (PP) originating from South Africa, India, and Korea. The probes cover the...
http://www.chemweek.com/sections/business_finance/usa_americas/Brazil-investigates-alleged-dumping-of-polypropylene_51138.html
April 15, 2013
Apollo Management says it plans to sell 15.8 million shares, roughly a 24% stake, in amines producer Taminco as part of a planned initial public offering (IPO). The offering is being...
http://www.chemweek.com/sections/business_finance/usa_americas/Taminco-seeks-to-raise-$300-million-from-IPO_51110.html
April 15, 2013
Cytec has closed the $1.15-billion sale of its coating resins business to private equity firm Advent International (New York). The deal, which was announced in October, completed a...
http://www.chemweek.com/sections/business_finance/usa_americas/Cytec-closes-sale-of-coating-resins-business-to-private-equity-firm_51117.html
April 15, 2013
Ferro sold its pharmaceuticals business, increased its earnings guidance, and issued a letter to shareholders, while A. Schulman fell short of estimates and amended CEO Joseph Gingo’s contract to extend it in the event of a “transformational acquisition” as the companies hunkered down for the next stage in Schulman’s $855-million hostile bid for Ferro. Gingo’s revised contract provides for a two-year extension, and Schulman specifically mentioned Ferro as the kind of deal that could trigger the extension....
http://www.chemweek.com/sections/business_finance/usa_americas/Schulman-Ferro-prepare-for-next-stage-in-bid-proxy-fight_51118.html
April 15, 2013
Kinder Morgan Energy Partners (KMP) has announced plans to invest approximately $58 million to expand chemical storage capacity. The sum includes construction of methanol storage...
http://www.chemweek.com/sections/business_finance/usa_americas/Kinder-Morgan-invests-$58-million-in-methanol-storage-terminal-buy_51078.html
April 15, 2013
Monsanto raised its earnings outlook for its fiscal year ending 31 August as expanded corn acres in Brazil and increased sales of advanced corn seeds in the United States drove...
http://www.chemweek.com/sections/business_finance/usa_americas/Monsanto-tops-estimates-raises-2013-earnings-outlook_51077.html
April 1, 2013
Ineos will increasingly direct capital investment to the United States, attracted by low feedstock and energy costs, according to Jim Ratcliffe, chairman of the Switzerland-based chemical giant. The United States already contributes more than half of the company’s profits, he said, and that share will grow....
http://www.chemweek.com/sections/business_finance/usa_americas/Ratcliffe-Ineos-shifting-capital-to-US-rationalizing-in-Europe_50852.html
March 29, 2013
A Delaware judge has ruled that Gevo (Englewood, CO) does not infringe two Butamax Advanced Biofuels patents describing methods for the production of biobased isobutanol—the latest...
http://www.chemweek.com/sections/business_finance/usa_americas/Gevo-wins-round-in-patent-fray-Butamax-plans-appeal_50814.html
March 29, 2013
PolyOne has agreed to sell its vinyl dispersion, blending, and suspension resin assets to Mexichem (Tlalnepantla, Mexico) for $250 million....
http://www.chemweek.com/sections/business_finance/usa_americas/Mexichem-to-acquire-PolyOnes-remaining-vinyls-assets_50819.html
March 29, 2013
EPA announced on 27 March that it will begin health and environmental risk assessments of 23 commonly used chemicals, with a focus on flame retardants, as a part of the Toxic...
http://www.chemweek.com/sections/business_finance/usa_americas/EPA-begins-risk-assessment-of-flame-retardants-under-TSCA_50820.html
March 29, 2013
Indorama Ventures’ (Bangkok) polymers subsidiary AlphaPet has confirmed the construction of a previously announced polyethylene terephthalate (PET) production unit in the United...
http://www.chemweek.com/sections/business_finance/usa_americas/Indorama-subsidiary-confirms-PET-project-at-BPs-Decatur-AL-site_50821.html
March 29, 2013
Williams has announced it will begin construction on a previously announced propane dehydrogenation (PDH) facility near Edmonton, AB. The PDH facility will be the first in Canada and...
http://www.chemweek.com/sections/business_finance/usa_americas/Williams-proceeds-with-PDH-facility-selects-UOP-technology_50822.html
March 29, 2013
North American chemical company high-yield bond offerings tend to come with weak covenants relative to other sectors, according to a report from Moody’s Investors Service (New York)...
http://www.chemweek.com/sections/business_finance/usa_americas/Moodys-Chemical-industry-bonds-offer-weak-credit-protection_50832.html
March 29, 2013
A. Schulman has retained Moelis & Company (New York), an investment bank, to advise on the company’s $6.50/share hostile bid for Ferro. The bid, which totals $855 million...
http://www.chemweek.com/sections/business_finance/usa_americas/Schulman-retains-investment-bank-to-advise-on-Ferro-bid_50833.html
March 29, 2013
Huntsman plans to invest $135 million at two of its methylene di-para-phenyl isocyanate (MDI) manufacturing facilities—specifically, increasing capacity at its Geismar, LA, site and upgrading its downstream specialties production capability at its Rotterdam site....
http://www.chemweek.com/sections/business_finance/usa_americas/Huntsman-invests-$135-million-in-MDI-expansion-upgrade_50834.html
March 29, 2013
Unconventional gas and oil development has kept the US economy afloat, according to Charles Drevna, president of American Fuel and Petrochemical Manufacturers (AFPM), and it could...
http://www.chemweek.com/sections/business_finance/usa_americas/AFPM-IPC-Shale-gas-carrying-US-economy-despite-politics_50853.html
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