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AMERICAS

Dow share gains could allow it to retire expensive preferred shares

12:59 PM MDT | July 24, 2014 | Robert Westervelt

A rally in Dow Chemical’s share price, helped by yesterday’s strong second-quarter earnings report, has put the company in a position to convert $4 billion in preferred shares that carry an expensive $340-million/year dividend. Dow’s shares...


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3M second-quarter net income up 6% YOY on broad organic growth

3M (St. Paul, MN) reports second-quarter net sales of $8.1 billion, up 5% year-on-year (YOY) on strong organic growth across all segments. Net income increased 6% YOY, to $1.3 billion. Earnings per share of $1.91 equal the analysts’ consensus estimate as reported by Thomson Reuters....

Airgas earnings up 5%

Airgas today reported fiscal first-quarter 2015 net earnings of $88.9 million, up 5% year-on-year (YOY), on sales up 3% YOY, to $1.3 billion. Sales growth can be attributed to increases in organic sales within the gas and rent, hardgoods, and distribution...

Haldor Topsoe opens sulfuric acid catalyst production plant in Texas

Haldor Topsoe announced earlier this month that it had recently opened a new plant at its site at Bayport, TX, to produce Topsoe's VK portfolio of extruded catalysts that are used to produce sulfuric acid. In 2012, Topsoe's board of...

PotashCorp earnings down YOY, but above guidance

PotashCorp reported its second quarter results today—showing strong segment results, though, overall trailing behind the same quarter 2013. Net income dropped 26% YOY, to $472 million with earnings per share of 56 cts/share rising above analyst...

Air Liquide to invest €40 million in new ASU unit in Brazil

Air Liquide will invest close to €40 million ($53.9 million) in an air separation unit (ASU) that will supply paper maker Klabin's factory at Ortigueira --as well as to another site in Telêmaco Borba, both in the state of Paraná...

Linde to supply gases to Texas welding distributor

Linde announced today that it has signed a contract to supply liquid oxygen, nitrogen and argon to Conroe Welding Supply (Conroe, TX)—an independent distributor that serves the East Texas market. “We’re excited to have Conroe Welding Supply...

Stora Enso acquires North American biotechnology company

Stora Enso (Helsinki) has acquired 100% of the shares of the Virdia (Danville, VA), a developer of extraction and separation technologies for converting cellulosic biomass into highly refined sugars and lignin, Stora Enso says. The  transaction was...

CB&I to market Versalis's LDPE and EVA technologies in North America

ENI (Rome) announced today that its chemicals production subsidiary Versalis (Milan) has signed a cooperation agreement with CB&I under which CB&I will market and provide engineering services for Versalis’ low-density polyethylene (LDPE) and...

New Air Products CEO says emphasis on cash and capital allocation to guide strategy

Air Products chairman and CEO Seifi Ghasemi, who took the helm of the company on 1 July, says that a focus cash generation and improved capital allocation will drive company strategy....

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