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March 18, 2008
W.R. Grace will pay $250 million to reimburse the U.S. federal government for cleanup of asbestos contamination at Grace’s former Libby, MT vermiculite mine, according to a deal...
March 10, 2008
Dow Chemical is in the process of transforming itself from a commodity chemical company to a more nimble, risk-taking “entrepreneur” that will be less dependent on cyclical...
March 10, 2008
Procter & Gamble (P&G) is seeking to collaborate with companies from all industries worldwide, including chemical firms, to help boost innovation, Jeffrey LeRoy...
March 3, 2008
Solutia reached a settlement last week with lenders to fund its $2-billion exit financing package. The deal cleared the way for the company to emerge from Chapter 11 bankruptcy...
March 3, 2008
Singapore will become the hub of Lanxess’s operations throughout southeast Asia, following the company’s previously reported €400-million ($593 million) project to...
February 25, 2008
BASF has named Ulrich von Deessen its inaugural Climate Protection Officer (CPO), making BASF the first major industrial firm to have established the position. Von Deessen is due to...
February 25, 2008
Georgia Gulf, which continues to struggle in the wake of its 2006 acquisition of Royal Group, reported a net loss of $227.3 million ($6.62/share) for the fourth quarter of 2007...
February 19, 2008
Solutia has filed a lawsuit against lenders that have backed away from a commitment to fund a $2-billion exit financing package. The failure to complete the exit financing has stalled...
February 19, 2008
Petromont (Montreal), a 50-50 joint venture between Dow Chemical and the investment arm of the provincial government of Quebec, says it is suspending operations at its ethylene and...
February 4, 2008
U.S. basic and diversified chemical firms continue to report strong fourth-quarter 2007 results (CW, Jan. 28, p. 9). Overseas operations led earnings growth, as did tax benefits. North...
January 28, 2008
Industrial gases producers had a strong fourth quarter and beat analysts’ earnings estimates. Praxair reported net income up 17%, to $316 million (98 cts/share), on sales up 19%...
January 22, 2008
Early reporting firms posted strong fourth-quarter results, despite the slowing U.S. economy, particularly the housing sector. PPG Industries reported net income of $200 million...
January 22, 2008
Sabic has signed an agreement to take a 35% stake in a $1-billion polybutylene terephthalate (PBT) and related intermediates complex planned by Osos Petrochemicals (Yanbu, Saudi...
January 14, 2008
Monsanto reported net income for its first fiscal quarter, ended November 30, 2007, of $256 million (46 cts/share), nearly triple the company’s net income of $90 million for the...
January 14, 2008
DuPont increased its 2007 full-year earnings outlook, citing “stronger business results” in the fourth quarter despite a slower U.S. economy. The company also raised its...
December 28, 2007
Investment firm Platinum Equity (Beverly Hills, CA) has accused PPG Industries of “artificially” inflating the value of its automotive OEM glass and automotive replacement...
December 14, 2007
Dow Chemical says it plans to form a 50-50 petrochemical joint venture with Kuwait Petroleum’s Petrochemical Industries Co. (PIC; Kuwait City) subsidiary. PIC will pay about $9.5...
December 14, 2007
The rapidly emerging petrochemical industries of China, India, and the Mideast are “bound to lead the petrochemical industry of the future,” says Mukesh D. Ambani, chairman...
December 12, 2007
Dow Chemical will cut 1,000 jobs, about 2% of its workforce, in an effort to reduce costs and improve efficiency. The job cuts, due to take place over the next two years, will result...
December 12, 2007
Agrium says it has agreed to acquire UAP Holding (Dorchester, ONT), a distributor of agriculture chemicals, fertilizers, and related products for approximately $2.65 billion, including...
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