August 29, 2014 | By LINDSAY FROST
This Week in CW: Albemarle’s $6.2-billion acquisition of Rockwood Holdings was the result of an off-and-on 24-month courtship, according to a joint registration statement filed on Thursday by Albemarle and Rockwood. Discussions accelerated quickly in May and June as Rockwood M&A adviser Lazard pressed for bids and former Rockwood chairman and CEO Seifi Ghasemi prepared to retire from Rockwood to...
August 26, 2014 | By DEEPTI RAMESH
Siegfried reports a slight increase in profits Siegfried (Zofingen, Switzerland) reports a 1.6% rise in net profits for the first six months of 2014 compared with the year-ago period, to 18.8 million Swiss francs ($20.5 million). First-half sales decreased 16%, however, to SF165.1 million. Fluctuations in currency exchange rates and raw material prices as well as the introduction of a new technology during...
August 22, 2014 | By LINDSAY FROST
This Week in CW: Coatings maker Axalta has filed with the US Securities and Exchange Commission (SEC; Washington) for an initial public offering (IPO) of an undetermined value, according to regulatory filings. The filing, which consists of a preliminary prospectus, did not specify the timing of a potential IPO, or the price or number of shares in the offering. Axalta says it will use and any proceeds from...
August 19, 2014 | By DEEPTI RAMESH
Perrigo's API segment reports fall in sales and operating profits The active pharmaceutical ingredient (API) business segment of Perrigo (Dublin) reports a 20.5% fall in sales in the company’s fiscal fourth quarter ended 28 June 2014, compared with the year-ago period, to $32.5 million. Operating profits for the API segment decreased 12% in the quarter, to $8.8 million. The API segment's...
August 15, 2014 | By LINDSAY FROST
This Week in CW: Kinder Morgan, Inc. (KMI) announced that it is buying out its two master limited partnerships (MLPs) – Kinder Morgan Energy Partners (KMP) and El Paso Pipeline Partners (EPB) – along with limited liability management firm Kinder Morgan Management (KMR), bringing the four entities into one corporate and financial structure. The consolidated entity will be owned by Kinder Morgan...
August 15, 2014 | By ROB WESTERVELT
Hedge fund Third Point reports holding a 22-million share stake in Dow Chemical, valued at $1.1 billion, according to its second-quarter report on US-traded equity holdings with SEC on 14 August. Third Point also reports new stakes in DSM and FMC. Jana Partners joined Third Point with a new FMC stake in the second quarter. ...
August 12, 2014 | By DEEPTI RAMESH
Daiichi Sankyo to sell API plant at Akita to Japanese firm Pharmaceutical company Daiichi Sankyo (Tokyo) says that it has reached an agreement with finished dosage forms producer Alfresa Pharma (Osaka, Japan) to sell the active pharmaceutical ingredient (API) plant at Akita, Japan owned by the Daiichi Sankyo Propharma (DSPP; Tokyo) subsidiary, to Alfresa. Financial details of the agreement were not...
August 8, 2014 | By LINDSAY FROST
This Week in CW: Companies continued reporting results this week as earnings season slows down. Axiall (Atlanta) says that weakness in chlor-alkali and an unplanned outage in vinyl chloride monomer (VCM) pushed second-quarter net income down 62% year-over-year (YOY), to $27.2 million, and that sales fell 3% YOY, to $1.237 billion. Agrium reports net earnings of $625 million for the second quarter, down 15%...
August 5, 2014 | By DEEPTI RAMESH
FDA issues warning letter to API producer in China The US FDA issued a warning letter on 9 July to the active pharmaceutical ingredient (API) manufacturing facility of Zhejiang Jiuzhou Pharmaceutical and its export subsidiary, Zhejiang Zonebanner Jiuzhou Imp. & Exp. Co., which are both located at Taizhou, China, for violations of cGMP and misbranding. An FDA inspection from 21–24 October 2013 at...
August 1, 2014 | By LINDSAY FROST
This Week in CW: Several more companies reported earnings this week. In Asia, Mitsubishi Chemical Holdings, the parent of Mitsubishi Chemical, says its net profits decreased by 46.8% in its fiscal first quarter, ended 30 June 2014, compared with the year-ago quarter, to ¥5.85 billion ($57 million). Net profits decreased due to extraordinary losses associated with the previously announced shutdown of...
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Girish Malhotra is the president and founder of Epcot International, an international consulting firm covering chemical manufacture. Girish is an established industry figure having held senior positions at companies including ExxonMobil and Sherwin Williams. He can be reached at firstname.lastname@example.org
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President in early 2010. He says he will continue to drive up the interests of his members on issues including regulation and best business practice.
Lisa Allen is the Technical Manager of ReachReady, the Reach services body affiliated to the Chemical Industries Assocation (CIA; U.K.).
She spends much of her time addressing concerns raised by ReachReady’s customers about Reach.
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Rubber and Plastics
Lou Reade is a freelance journalist and expert in the rubber and plastics fields. Based in the U.K. Lou has more than a decade writing in about rubber and plastics manufacture with a wealth of experience gained while writing for the leading publications in the field in the U.K. and wider afield. Loureade@talk21.com.
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Steve Roberts is an attorney who practices in the rapidly developing area of homeland security law and regulation. Steve writes and speaks frequently on the legal aspects of homeland security and counterterrorism affecting the nation’s critical infrastructure. www.chemicalsecurity.com