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Chemical industry weekly news roundup—8 February
10:59 AM MST | February 8, 2013 | By LINDSAY FROST
This week in CW:
Earnings season is in full swing as companies continue to report mixed results. Abroad, Mistui reports a sales decrease as well as a $105-million net loss, while DIC reports a rise in net profit but a drop in sales partially due to falling sales in Japan. BP’s petrochemical operations reports a 48% drop in profit, and Braskem's net profit swung back to positive territory. In the United States, FMC reports higher revenues thanks to its strong agricultural segment, while W.R. Grace reports a net loss on an asbestos liability adjustment.
Praxair has agreed to acquire beverage carbonation firm NuCO2 from a Los Angeles–based private equity firm for $1.1 billion in cash. NuCO2 is the leading provider of beverage carbonation in the United States and provides to the restaurant and hospitality industries. The transaction is expected to close by the end of the first quarter 2013.
Investigators have determined that a buildup of methane gas in the basement of an annex building caused the blast that killed 37 and wounded over 100 at the Mexico City headquarters of Petróleos Mexicanos. Officials have determined that most areas of the site are safe to reopen.
Around the Web:
The San Antonio Business Journal has done an extensive study on the Eagle Ford Shale area, which contributed $25 billion in economic impact to southern Texas in 2011. The publication has released a slideshow of the top oil producers in the region from January 2012 to November 2012, including each company’s gas production figures.
The Curious Cat, an investing and economics blog, has ranked the top countries by highest manufacturing output using data from the UN—with China, the United States, Japan, and Germany taking the top spots. The top 4 countries are far ahead of the rest—the total out put of country's 4–6 falls short of Germany's output by $103 million.