Chemical industry weekly news round-up for 16 November

 

Sherwin-Williams is buying Mexican paints company Corsorcio Comex for $2.34 billion. The deal doubles the size of Sherwin-Williams’ Latin American coatings business.

 

At APLA 2012 in Rio de Janeiro, attendees considered the ways in which US shale gas development is changing prospects for Latin America’s chemicals industry. Low-cost feedstocks in North America could hamper the Latin American industry’s competitiveness, according to IHS Chemical.

 

Innospec and private equity firm Blackstone have submitted a new bid for TPC Group, raising their offer to $47.50/share. The new offer values TPC’s equity at $744.8 million, about 5.6% higher than the current take-private agreement with First Reserve and SK Capital.

 

EU chemicals output fell 2.2% year-on-year during the first eight months of 2012, according to a new report from Cefic.

 

 

With the “fiscal cliff” fast approaching in the US, a blogger in the Washington Post discusses how economic growth is unlikely to be bolstered (or harmed) by closing tax loopholes.

 

President Obama met this week with CEOs to discuss the impending fiscal situation, and Dow Chemical’s Andrew Liveris was among those present, MLive reports.

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