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Chemical Industry Weekly News Round-Up, Dec. 16
December 16, 2011 | By VINCENT VALK
This Week on CW:
Private equity firm Apollo Global Management has agreed to acquire alkylamines maker Taminco from CVC Capital Partners, another private equity firm, for $1.5 billion. Apollo beat out four other private equity firms, including Styron owner Bain Capital, in an auction for Taminco that was launched in September.
At GPCA Forum this week in Dubai, industry leaders said they expect the Middle Eastern chemical industry to grow by 6.6% a year over the next five years. That’s down from 10.8% average annual growth from 2005 to 2010.
DuPont’s 2012 earnings forecast of $4.20-$4.40/share came in higher than Wall Street’s expectations. The figure would represent 7%-12% growth over 2011 earnings. The company expects high double-digit growth in most of its business units.
ACC’s legislative priorities for next year include TSCA and EPA’s integrated risk control system. The group will also focus on advocacy work on energy supply and hydraulic fracturing.
Solutia’s 2012 earnings forecast came in $2-$2.30/share, flat on the low and a 15% increase on 2011 earnings on the high end. The company also introduced an annual dividend of 15 cts/share.
Around the Web:
Leading economists share their favorite graphs that tell the year’s biggest economic stories, in BBC News.
Speaking of economics, it may soon become the realm of neuroscientists, in Project Syndicate.