IHS Chemical Week

The latest chemical industry news

DuPont posts flat earnings

1:05 PM MDT | July 22, 2014 | Robert Westervelt

DuPont reports net income of $1.1 billion, up 0.4% year-on-year (YOY). Consolidated net sales were $9.7 billion, down 1% YOY. Reported operating earnings were $1.17/share, in line with DuPont’s 26 June earnings warning and down 9% YOY. DuPont has also announced a 4.0% dividend increase....

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

12:32 PM MDT | July 22, 2014 | Natasha Alperowicz

Tesoro (San Antonio) says it plans to produce petrochemical feedstock in its US west coast refining system. The company intends to gather intermediate feedstock, primarily reformate, from its West Coast refining system for xylene extraction at Anacortes, WA...


Westlake launches $225-million IPO of ethylene MLP

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

Wacker upgrades annual earnings forecast on restructured polysilicon contracts

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

Kemira reports lower profits and revenues, looking for acquisitions

6:16 AM MDT | July 22, 2014 | Natasha Alperowicz

Kemira today reported its second-quarter results, with net profit down to €1.8 million ($2.4 million) from €3.7 million in the year-earlier quarter. Revenues decreased 9%, to €518.2 million, because of divestments and unfavorable currency...

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

Sinopec's ethylene output increases 5%

5:53 AM MDT | July 22, 2014 | Ian Young

Sinopec says that it produced 5.1 million m.t. of ethylene in the first half of 2014, 5% more compared with the corresponding period of last year. The company's production of plastics increased 3.5% year-on-year (YOY) in the first half, to...

Mideast/Africa

Saudi Arabian fertilizer industry set for growth and diversification

3:23 AM MDT | July 22, 2014 | Natasha Alperowicz

The Saudi fertilizer industry leads regional production and is set to usher in a period of strong growth and diversification, according to Abdulwahab Al Sadoun, secretary-general of the Gulf Petrochemicals & Chemicals Association (GPCA; Dubai)...

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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