Chemical Industry Weekly News Round-Up, September 3
11:56 AM MDT | September 3, 2010 | By VINCENT VALK
This Week on CW:
Walmart has chosen AkzoNobel to be its main paint supplier. The world's largest paint company will develop a line of interior paints exclusively for the U.S.'s largest retailer.
Private equity firm Clayton, Dubilier & Rice purchased a 42.5% stake in Univar in deal valuing the distributor at $4.2 billion. In light of the deal, Univar is shelving plans for an IPO.
Brazil fined five industrial gases firms a total of $1.64 billion, alleging that they conspired to form a cartel. The largest fine is going to Praxair's White Martins subsidiary, one of Brazil's largest industrial gases suppliers.
Monsanto is expecting full-year EPS in the low end of a previously announced range, at $2.40-$2.45/share. The company has been hit by falling profits for its Roundup product line, and is restructuring that division to meet projections.
BASF, Linde and power company RWE have made a breakthrough in carbon capture technology.
Around the Web:
The Atlantic considers five "doomsday" scenarios for the U.S. economy.
A new poll finds a considerable majority of Americans support federal greenhouse gas regulation, Bloomberg reports.
The New York Times' Freakonomics blog discusses a paper on the peculiar verbal ticks of lying CEOs.
Also in the Times, banks are increasingly accounting for environmental risk when making lending decisions.