IHS Chemical Week

The latest chemical industry news

Westlake launches $225-million IPO of ethylene MLP

11:08 AM MDT | July 21, 2014 | Clay Boswell

Westlake Chemical Partners (Houston) announced on 21 July the start of its initial public offering of 11.25 million common units, which are to be listed on the New York Stock Exchange as WLKP. The company, a master limited partnership established to operate the ethylene production facilities of Westlake Chemical (Westlake; Houston), aims to be priced at $19–21/unit, about $225 million in total....

ZeoGas to use ExxonMobil methanol-to-gasoline technology in US Gulf Coast project

2:00 AM MDT | July 22, 2014 | Natasha Alperowicz

ZeoGas (Houston), a developer of natural gas-to-gasoline projects, has entered into a license agreement to use ExxonMobil Research and Engineering Co.’s methanol-to-gasoline (MTG) technology in the development of a natural gas-to-gasoline plant on the...


Wacker upgrades annual earnings forecast on restructured polysilicon contracts

Tesoro to produce xylene on US West Coast for export to Asia

Croda's sales and earnings down, unlikely to match last year's pretax profit

More Top of the News...

This week

PTT Global Chemical: Seeking to double sales and grow overseas


PTT Global Chemical (PTTGC; Bangkok), Thailand’s largest and Asia’s eighth-largest chemicals player, has a clear strategy to reinforce its leadership position at home and grow overseas. Bowon Vongsinudom, president and CEO of PTTGC since 1 October 2013, describes PTTGC’s plans and aspirations to CW...read more>>

Americas

PolyOne earnings rise, beat estimates, on improving margins

3:29 PM MDT | July 21, 2014 | Vincent Valk

PolyOne today reported net income from continuing operations of $30.9 million, or 33 cts/share, down 24.9% year-on-year (YOY), on net sales down 2.9%, to $1.01 billion. Adjusted earnings, however, rose 37.8% YOY, to 51 cts/share, slightly ahead of...

Europe

AkzoNobel and Evonik join forces in membrane cell chlor-alkali project in Germany

7:26 AM MDT | July 21, 2014 | Natasha Alperowicz

Evonik Industries and AkzoNobel say they have entered into negotiations to build a membrane cell electrolysis production facility at AkzoNobel’s Ibbenbüren, Germany, site. The companies plan to form a joint venture to construct and operate the...

news round-up

Chemical industry weekly news roundup, 18 July

Albemarle has reached an agreement to acquire Rockwood Holdings, a leading producer of lithium and surface treatment chemicals, for $6.2 billion. The deal gives Albemarle, a leading producer of catalysts and bromine-based derivatives, first or second position across four high-margin specialty chemical segments that are all...

Asia/Pacific

LG Chem reports lower second-quarter profits, flat revenues

4:35 AM MDT | July 18, 2014 | Natasha Alperowicz

LG Chem (Seoul) today reported a 43% drop in second-quarter net profit, to 226.8 billion South Korean won ($220.3 million), citing poor performance in its chemical sales and a strong local currency. Sales were 0.8% higher, at won5.87 trillion, while operating...

Mideast/Africa

Sabic reports higher sales and profit, says US shale unlikely to make impact for some time

6:53 AM MDT | July 20, 2014 | Natasha Alperowicz

Sabic today reported second-quarter net profit increased 7%, to 6.46 billion Saudi riyals ($1.72 billion), with operating profit rising 1%, to SR10.07 billion. Sales were up 7% to SR48.15 billion. Mohamed Al Mady, CEO, addressing a news conference at Riyadh...

Viewpoint

The price for growth

5:08 PM MDT | July 17, 2014

Albemarle’s $6.2-billion offer for Rockwood underscores the cost of building or maintaining a high-margin growth franchise in specialty chemicals (p. 7). Albemarle says the price represents an 11.3-times multiple of Rockwood’s pro forma 2014 enterprise value to Ebitda, adjusted to include expected cost savings of $100 million. J.P.Morgan estimates that, exclusive of synergies, Albemarle is paying a rich 15.5-times multiple of 2015 enterprise value-to-Ebitda for Rockwood....











 
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