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AMERICAS

Dow Chemical completes acquisition of Univation Technologies

5:18 PM MDT | May 6, 2015 | Natasha Alperowicz

Dow Chemical said on Wednesday that it has completed the acquisition of ExxonMobil Chemical’s share in Univation Technologies (Houston), previously an equally owned joint venture with Dow. The companies in October 2014 signed a definitive agreement for...


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MORE AMERICAS

North America rail traffic flat on large drop in Mexico

During the week ended 2 May, chemical railcar traffic in North America changed little year-over-year (YOY) as a sharp decline in Mexico offset gains in the United States and Canada....

Solvay's first-quarter net income up 44% YOY

Solvay reports adjusted net income of €173 million ($196.4 million), up 44% year-on-year (YOY) in the first quarter of 2015. Recurring Ebitda (Rebitda) was €502 million, up 12% YOY, primarily supported by the favorable currency conversion impacts...

Airgas opens specialty gas facility in Utah

Airgas says that it has opened a specialty gas facility at Tooele, UT. The facility will provide a critical link in the supply chain for high-purity and precision-blended specialty gases used in research and commercial laboratories, environmental monitoring...

US ethylene contract to go unsettled for April

The April US ethylene net transaction contract will go unsettled, according to market participants on Wednesday. Producers were seeking a rollover from the March contract price of 34.25 cents per pound, while buyers were seeking a decrease of 0.25 cents per...

US crude inventories drop first time since early January

US crude inventories came down last week for the first time since the week of 2 January, according to data released by the Energy Information Administration (EIA) on Wednesday. Crude stockpiles had been rising for 16 consecutive weeks since early January. For...

US propylene stocks up for second consecutive week

US propylene stocks firmed during the week that ended on May 1st, according to data released by the Energy Information Administration (EIA) on Wednesday. Non-fuel use propylene stocks were at 5.0 million barrels, up by 200,000 barrels or 4% from 4.8 million...

Axiall misses first-quarter estimates with $10.6 million loss

Axiall reports a first quarter net loss of $10.6 million, up slightly from a loss of $11.6 million in the year-ago period. Sales fell 5% year-over-year (YOY) to $947.6 million on declines in chlorovinyls and aromatics. Adjusted earnings totaled a loss of 5 cts/share, missing the analysts’ consensus estimate of 0 cts/share as compiled by Thomson Reuters (New York)....

OxyChem earnings up 2% YOY on lower costs

OxyChem, the chemical business of Occidental Petroleum, turned in pre-tax core earnings of $139 million in the first quarter, up 2% year-over-year (YOY). Occidental attributes the gain to lower ethylene and natural gas costs, offset primarily by lower caustic soda sales volumes. OxyChem sales fell 18% YOY to $1 billion....

Axalta beats estimates despite currency issues

Axalta today reported first-quarter net income of $46.7 million, compared with a net loss of $3.7 million in the year-ago quarter, on sales down 5.4% year-on-year (YOY), to $997.5 million. Earnings totaled 19 cts/share, beating analysts’ consensus...

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