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March 21, 2014
Dow Chemical said on 19 March at an investor meeting in Saudi Arabia that it has increased its asset sale target by $1.5–2.0 billion, lifting expected proceeds over the next two years to $4.5–6.0 billion. This target includes the previously announced divestment of chlor-alkali and epoxy chain businesses....
http://www.chemweek.com/sections/top_of_the_week/Dow-raises-divestiture-target-to-$4-5-6-0-billion_59732.html
March 21, 2014
Trinseo, formerly Styron, filed for an initial public offering (IPO) to raise as much as $200 million 14 March. The exact date when Trinseo plans to sell its shares and the price and...
http://www.chemweek.com/sections/top_of_the_week/Styrenics-maker-Trinseo-files-for-$200-million-IPO_59733.html
March 14, 2014
FMC plans to separate into two independent public companies by spinning off its lithium and soda ash businesses. Current FMC chairman and CEO Pierre Brondeau will continue to lead New FMC, which will retain FMC’s higher-margin agricultural solutions and health and nutrition segments....
http://www.chemweek.com/sections/top_of_the_week/FMC-to-spin-off-soda-ash-and-lithium-businesses_59575.html
February 28, 2014
Asahi Kasei says it will close several petrochemical production plants in Japan and, with Mitsubishi Chemical, is also moving ahead with the previously announced plans to combine their...
http://www.chemweek.com/sections/top_of_the_week/Asahi-Kasei-to-close-several-petrochemical-plants-in-Japan_59203.html
February 28, 2014
Lanxess announced on 26 February that it expects to post a loss for 2013 in part because of impairment charges in its elastomers and rubber chemicals segment. Lanxess says that recent impairment tests will result in a noncash charge of €257 million ($352 million) in fourth-quarter 2013 to reflect lower future cash flow contributions from the elastomers and rubber chemicals business. Lanxess also expects to cut its 2013 dividend in half, proposing a payment of €0.50/share compared with €1.00/share in 2012....
http://www.chemweek.com/sections/top_of_the_week/Lanxess-expects-large-losses-announces-fourth-quarter-impairment-charges_59202.html
February 21, 2014
O’Brien: Deal should raise Ashland’s margins. Ashland, on 18 February, agreed to sell its water technologies business, a supplier of water treatment and pulp and paper...
http://www.chemweek.com/sections/top_of_the_week/Ashland-to-sell-water-unit-to-private-equity-for-$1-8-billion_58988.html
February 21, 2014
Private-equity backed inorganic chemicals maker PQ earlier this month filed for an initial public offering that could raise as much as $450 million, according to SEC filings. The size...
http://www.chemweek.com/sections/top_of_the_week/PQ-seeks-to-raise-$450-million-in-IPO_58989.html
February 13, 2014
The chemical sector in the European Union remains "fragile" despite output growth of 2.8% in November 2013, Cefic says. Output fell 0.2% for January–November 2013...
http://www.chemweek.com/sections/top_of_the_week/Cefic-EU-chemical-sector-faces-fragile-recovery_58798.html
February 10, 2014
Paints and coatings company Tikkurila (Helsinki) reports an operating loss of €4.2 million ($5.73 million) in the fourth quarter 2014 compared with an operating loss of €3.2...
http://www.chemweek.com/sections/top_of_the_week/Tikkurila-reports-4-2-percent-operating-loss-sales-drop-4-percent-in-fourth-quarter-2013_58693.html
February 7, 2014
(Correction: The earnings table included with this story misreported Dow's 4Q12 earnings at $959 million. The correct figure is -$716 million.) North American basic and diversified...
http://www.chemweek.com/sections/top_of_the_week/North-American-firms-report-strong-fourth-quarter-results_58625.html
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