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Chemical Industry Weekly News Round-Up, Feb. 10
1:39 PM MST | February 10, 2012 | By VINCENT VALK
This Week on CW:
Indorama Ventures, a Thai chemicals concern, has announced plans to buy Old World Industries’ chemicals assets for $795 million. Old World operates the largest ethylene oxide/ethylene glycol plant in the U.S. The plant is in Clear Lake TX, and had estimated 2011 sales of $567 million.
Earnings at commodity chemical firms were adversely impacted by destocking and economic weakness in Europe, as many companies reported profit declines. Specialty earnings, however, remained solid, as most companies beat expectations.
Former Republican presidential candidate Jon Huntsman, Jr. has been appointed to the board of Huntsman Corp., his father’s chemical company.
Around the Web:
An economics blog in the New York Times discusses why manufacturing still matters to the U.S. economy.
A U.S. list of ‘chemicals of concern’ has been stuck in regulatory limbo for nearly two years, reports the Center for Public Integrity.
An ACC report says U.S. plastics recycling rose 14% in 2010, in Plastics News.