IHS Chemical Week

The latest chemical industry news

FMC earnings rise as ag rebounds, but fall short of estimates

4:12 PM MDT | July 30, 2014 | Vincent Valk

FMC today reported net income of $109.1 million, or 81 cts/share, down 8% year-on-year (YOY), on revenues up 13%, to $987.8 million. Excluding special charges, adjusted earnings totaled $1.01/share, up 9% YOY and slightly short of analysts’ consensus...

Huntsman beats estimates, net income more than doubles

12:01 PM MDT | July 30, 2014 | Clay Boswell

Huntsman reports second-quarter net income of $119 million, more than doubling year-over-year (YOY) on gains across all segments except pigments. Revenues totaled $2.988 billion, up 5.6% YOY. Earnings of 59 cts/share were well above the analysts’ consensus estimate of 48 cts/share compiled by Thomson Reuters....


Bayer reports higher income and revenue, upholds full-year forecast

Westlake Chemical Partners prices IPO at $24/share, begins trading on NYSE

Senate passes CFATS reauthorization program

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

Ferro earnings up as specialty plastics, polymer additives businesses discontinue

3:16 PM MDT | July 30, 2014 | Lindsay Frost

Ferro today announced its second quarter results from continuing operations, and the company now fully recognizes substantially all of its specialty plastics and polymer additives segments as discontinued operations. The company sold specialty plastics to A...

Europe

Portuguese firm acquires La Seda's PET assets in Italy

7:12 AM MDT | July 30, 2014 | Francinia Protti-Alvarez

 Selenis (Portalegre, Portugal) a subsidiary of Control PET (Santo Tirso, Portugal) has acquired Artenius Italia, the last remaining polyethylene terephthalate (PET)  production company of La Seda de Barcelona (El Prat de Llobregat, Spain), La Seda...

news round-up

Chemical industry weekly news roundup, 25 July

Earnings season is in full swing as several companies reported results this week. BASF reported a 12.3% increase in second-quarter net income, to €1.3 billion ($1.7 billion), on 0.6% higher sales, €18.5 billion. Dow Chemical's second-quarter results beat estimates as margins improved in its performance plastics segment and sales increased across all...

Asia/Pacific

API business of Dr. Reddy’s reports fall in sales

5:40 AM MDT | July 30, 2014 | Deepti Ramesh

The pharmaceutical services and active ingredients (PSAI) business of Dr. Reddy’s Laboratories (Hyderabad, India) reports a 5.6% fall in sales in the company’s fiscal first quarter, ended 30 June, compared with the year-ago quarter, to 5.53...

Mideast/Africa

Total sells South African coal mining assets

8:24 AM MDT | July 28, 2014 | Natasha Alperowicz

Total announced today that it has signed an agreement with Exxaro Resources (Pretoria) to sell its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa, for $472 million. The sale is subject South African authorities'...

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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