IHS Chemical Week

The latest chemical industry news

Solvay to acquire Cytec Industries for $6.4 billion

3:15 PM MDT | July 31, 2015 | —Deepti Ramesh and Robert Westervelt

Solvay has reached a definitive agreement to acquire Cytec Industries (Woodland Park, NJ) for $6.4 billion, including debt, in a bid to acquire a leading position in high-growth aerospace and automotive materials, the company says....

ExxonMobil's chemical earnings leap to $1.2 billion

9:07 AM MDT | July 31, 2015 | Clay Boswell

ExxonMobil reports that its chemical segment turned in second-quarter earnings of $1.246 billion, up 48% year-over-year (YOY), despite a decline in volume. US earnings increased 39%, to $735 million, and non-US earnings increased 63%, to $511 million....


Arkema's second-quarter earnings lifted by Bostik

Sumitomo Chemical reports higher profits, flat sales

CPChem earnings down 9% YOY

More Top of the News...

This week

Executive compensation:
Pay soars for top leaders

As the industry benefitted from improving demand and a strong stock market in 2014, the pay for industry leaders jumped sizably. Compensation programs for senior executives continue to evolve, influenced by shareholder pressure and high stock prices...
read more>>

Americas

Moody's: Debt refinancing a risk for some private equity–owned chemical companies

10:53 AM MDT | July 31, 2015 | Vincent Valk

Debt refinancing is a risk for a group of nine high-yield-rated chemical companies with a total of about $5 billion in debt maturing in 2017 or 2018, according to a new report by Moody’s Investors Service (New York). The nine companies are mostly owned...

Europe

Yara awards EPC contract to Tecnimont for Dutch urea plant

4:50 AM MDT | July 31, 2015 | Natasha Alperowicz

Maire Tecnimont (Rome) says its Tecnimont (Milan) subsidiary has been awarded an engineering, procurement, and construction contract by Yara International for a urea granulation plant being built at Sluiskil, Netherlands. The contract is valued at...

news round-up

Univar floats as Axiall-Lotte cracker plans resurface, June 19

Univar priced an initial public offering of 35 million shares at $22.00 on 18 June, raising $770 million for the company and selling stockholders. Interest from investors was strong, allowing the company to increase the size of the offering by 75%, to 35 million shares, says Univar CEO Erik Fyrwald.

Asia/Pacific

Ube swings to profit

7:19 AM MDT | July 31, 2015 | Deepti Ramesh

Ube Industries reports net profits of ¥6.3 billion ($50.8 million) for its fiscal first quarter ended 30 June 2015, compared with a net loss of ¥1.1 billion in the year-ago period. First-quarter sales increased 8.6%, to ¥161.3 billion. During the...

Mideast/Africa

Saudi methanol producer swings to loss on price decline

4:31 AM MDT | July 30, 2015 | Natasha Alperowicz

Methanol Chemicals Co. (Chemanol) reported a second-quarter net loss of 21.41 million Saudi riyals ($5.7 million) compared with a net profit of SR15.86 million in the year-earlier quarter. The company reported an operating loss of SR6.8 million compared with...

Viewpoint

Basics shine

4:32 PM MDT | July 30, 2015 | —Robert Westervelt

Basics and diversified chemical makers in the United States remain the market’s steadiest performers. Second-quarter financial results show US commodity and diversified chemical producers benefiting from a recovering domestic market and lower feedstocks costs despite challenges from a stronger US dollar (p. 9)....











 
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