IHS Chemical Week

CHEM IDEAS

Chemical industry weekly news round-up, 11 July

3:50 PM MDT | July 11, 2014 | By VINCENT VALK

This Week on CW:

German personal care chemicals maker Hansa Group has filed for insolvency after reviewing a variety of restructuring options. The company reported €398.9 million ($544.2 million) in revenue and just €1.2 million in profit in 2012, the most recently available data.

US Congress has passed a reauthorization of the Chemical Facility Anti-Terrorism Standards (CFATS) act, which extends the law for three years. ACC and Socma applauded the move, which includes some minor revisions of the existing law.

Axiall cut its earnings guidance due to weakness in building products and aromatics, as well as the slower-than-expected ramp-up of its PHH vinyl chloride monomer plant in Louisiana. The new guidance calls for quarterly adjusted Ebitda of $125-$130 million, compared with $180 million in the year-ago quarter.

Two workers were injured in a fire at CPChem’s Lake Charles, LA facility. Market sources say the fire is believed to have been at the facility’s ethylene unit, which could be down for one to two weeks.

Around the Web:

Slate reports on how the job market for science PhDs – including chemists – is not quite as robust as politicians and industry leaders might have you believe. As of 2012, more chemistry PhDs were in postdoc programs or unemployed than in regular employment, either at a university, a nonprofit or in industry.













 
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