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January 29, 2010
Volume growth and lower cost bases drove earnings at basic and diversified chemical firms upward in the final quarter of 2009. Continuing sluggishness in North America and Europe hurt...
January 22, 2010
The U.S. Department of Justice (DOJ) has stepped up its inquiry into Monsanto’s licensing practices amid a larger investigation into consolidation of the seeds industry and accusations of anti-competitive practices by the biotech giant. Separately, Monsanto scored a victory over its most vocal critic when a federal court ruled against DuPont in a patent infringement lawsuit challenging DuPont’s rights to stack Monsanto’s Roundup Ready (RR) trait with DuPont’s Optimum GAT trait....
January 22, 2010
The U.S. Bankruptcy Court for the Southern District of New York has granted LyondellBasell more time to file exclusively its plan of reorganization. Judge Robert Gerber extended until...
January 8, 2010
EPA’s late December release of four chemical action plans under the Toxic Substances Control Act (TSCA) offers key details on how EPA intends to use its existing authority “to the...
January 8, 2010
Qatar Petroleum (QP; Doha) and ExxonMobil Chemical have signed an agreement to advance their plans to build a world-scale petrochemicals complex at Ras Laffan, Qatar. The complex will...
December 18, 2009
Evonik Industries has confirmed German press reports that the company plans to split off its energy and real estate businesses, and focus on chemicals. “As part of its new...
December 1, 2009
Mitsubishi Chemical Holdings (MCH), Japan’s largest chemical group, says it will launch a tender offer to buy Mitsubishi Rayon at the beginning of February 2010 and plans to...
December 1, 2009
Reliance Industries has made a cash bid for a controlling stake in LyondellBasell Industries. Sources close to Reliance say the company is prepared to pay $6 billion-$12 billion to...
November 13, 2009
Dow Chemical said last week that it expects to generate normalized earnings of $3.50-$5.50/share through 2015, roughly double that of the previous 2002-2005 upcycle when annual...
November 13, 2009
Partners in the ethylene and derivatives complex planned for Mexico’s Gulf Coast have signed an agreement with Pemex for supply of 66,000 bbls/day ethane beginning in 2015, a...
October 30, 2009
Basic and diversified chemical firms posted stronger-than-expected earnings in the third quarter, even as sales fell sharply. Cost-cutting actions, as well as lower raw material costs...
October 19, 2009
BASF reported preliminary third-quarter Ebit before special items down 20%, to €1.25 billion ($1.86 billion), on sales down 19%, to €12.8 billion. BASF says it will announce...
October 16, 2009
One year after the financial meltdown that decimated profits, analysts and manufacturers see the light of recovery at the end of the tunnel. Many chemical firms are poised to beat...
September 21, 2009
Producers are confident that the worst is now behind for the chemical sector but warn that recovery may be slow. “Business conditions are stabilizing,” Dow Chemical...
September 18, 2009
The Bayer supervisory board has appointed Dutch-born Marijn Dekkers to succeed Werner Wenning as the company’s CEO on October 1, 2010. Dekkers is the first CEO to be appointed by...
September 4, 2009
Huntsman has reached an agreement to acquire most of the titanium dioxide (TiO2) and electrolytics assets of Tronox for $415 million. Huntsman, if the bid is approved by the U.S...
September 4, 2009
Dow Chemical has completed the sale of its 45% stake in Dow and Total’s refinery joint venture—Total Raffinaderij Nederland (TRN)—at Vlissingen, the Netherlands to...
July 10, 2009
BASF has announced a deep restructuring of the former activities of Ciba Specialty Chemicals, which BASF acquired last April. The plans include heavy job cuts and possibly widespread...
July 10, 2009
A study by McKinsey and Co., commissioned by the International Council of Chemical Associations (ICCA), has concluded that the chemical industry enables net savings of greenhouse gas...
June 26, 2009
Energy company Lukoil (Moscow) says it has agreed to buy Dow Chemical’s 45% stake in Dow and Total’s refinery joint venture at Vlissingen, the Netherlands. The value of the...
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