IHS Chemical Week
AMERICAS

Mosaic acquires ADM's fertilizer distribution businesses in Brazil and Paraguay

2:37 PM MDT | April 15, 2014 | Lindsay Frost

Mosaic agreed to acquire Archer Daniels Midland's (ADM) fertilizer distribution business in Brazil and Paraguay for $350 million. The price assumes the delivery of $150 million in working capital at closing, the company says. Under the agreement terms, Mosaic...


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MORE AMERICAS

Shintech seeks permit for Louisiana ethylene plant

Shintech, the US subsidiary of Shin-Etsu Chemical (Tokyo), has applied to the Louisiana Department of Environment Quality for a permit to build a 500,000-m.t./year ethylene plant. The company says it has not chosen a site, but a leading candidate will be land already owned by Shintech....

IC Potash receives BLM approval of New Mexico potash project

IC Potash (ICP; Toronto) announced today that the Bureau of Land Management (BLM) has authorized ICP to construct and operated a sulphate of potash project, called Ochoa, at Lea County, NM.  “We are pleased with the favorable [decision] from the...

ACC, CI sue to stop railroad from imposing new shipping restrictions

The Chlorine Institute and ACC have asked the US District Court for the District of Minnesota to prevent Canadian Pacific Railway from imposing a restrictive new requirement on shippers of chlorine and other toxic inhalation hazard materials. The Fertilizer Institute has joined the complaint....

Sensient swings to loss on restructuring charges, raises guidance

Sensient Technologies has reported a first-quarter net loss of $2.08 million, or 4 cts/share, compared with a profit of $21.4 million, or 43 cts/share, in the year-ago quarter, due mostly to restructuring charges. Excluding restructuring costs, which totaled...

Canadian, US firms establish JV to develop on-demand ammonia technology

Jourdan (Mississauga, ON), Autris (Los Angeles), and Process Research Ortech (PRO; Mississauga) have signed a term-sheet agreement covering the formation of a joint venture to investigate, develop, and commercialize a patentable technology for the production...

K+S signs long-term handling, storage agreement for potash project in Canada

K+S Potash Canada (Saskatoon, SK), a subsidiary of K+S Group (Kassel, Germany); and Pacific Coast Terminals (PCT; Port Moody, BC) have signed an exclusive, long-term contract for the handling and storage of potash produced at K+S Potash Canada’s planned...

Axiall completes VCM repairs, estimates 50% yoy decline in first-quarter Ebitda

Axiall (Atlanta, GA) has restarted a Lake Charles, LA, vinyl chloride monomer (VCM) plant, which was shut down after a fire on 20 December. Axiall also released preliminary first-quarter financial results....

Momentive Performance Materials files for Chapter 11 (updated)

Silicones and quartz maker Momentive Performance Materials (MPM; Albany), which is controlled by private-equity firm Apollo Management, has filed for Chapter 11 bankruptcy protection in an attempt to implement a "pre-negotiated" restructuring plan to reduce debt by $3 billion. All of MPM’s silicones and quartz businesses will continue to operate normally during this period, the company adds....

ACC's economic outlook for the week ended 11 April 2014

MACROECONOMIC STATUS Our running tab of positive indicators was 15 out of 20 this week. Thus, we continue to post a green banner. Consumer debt up 6.4%; up 5.6% year-on-year (YOY) Wholesale trade up 0.7%; up 3.1% YOY Producer prices up 0.5%; up 1.4% YOY...

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