IHS Chemical Week

Celanese net income up 10.9% YOY on gains in materials solutions

July 25, 2016 | Clay Boswell

Celanese Corporation (Dallas) reports second quarter net income of $223 million, up 10.9% year-over-year (YOY), on sales of $1.35 million, down 8.5% YOY. Adjusted earnings of $1.59/share beat the average analyst estimate of $1.55/share, as compiled by Thomson Reuters (New York). Gains in materials solutions offset weak results in the acetyl chain....

Petrobras sells Chilean distribution business for $464 million as part of 2015–16 Disposal Plan

July 25, 2016 | Francinia Protti-Alvarez

Petróleo Brasileiro SA(Petrobras; Rio de Janeiro, Brazil) has signed a sale and purchase agreement with Southern Cross Group (Buenos Aires, Argentina) for 100% of Petrobras Chile Distribuición Ltda (PCD; Santiago, Chile). The estimated cash...

FMC to accelerate lithium hydroxide expansion on new supply agreement

July 25, 2016 | Clay Boswell

FMC Corporation (Philadelphia) says it is doubling the amount of lithium hydroxide capacity it will bring online in 2017 to 8,000 metric tons/year as a result of a new multi-year supply agreement with a major manufacturer of electric vehicles....

SABIC and ExxonMobil join forces in petchems project on US Gulf Coast

July 25, 2016 | Natasha Alperowicz

SABIC and ExxonMobil said today that they are considering the potential development of a jointly owned petrochemical complex on the US Gulf Coast. The potential petrochemical complex would include an ethylene production unit, which will supply feedstock to the complex's downstream ethylene derivatives facilities....

Brazil's chemical trade deficit reaches $10.3 billion in the first six months of the year

July 25, 2016 | Francinia Protti-Alvarez

Brazil's chemical product trade deficit reached $10.3 billion in the first half of the year, according to figures published by the country's chemical industry association ABIQUIM (São Paulo). The trade deficit reached $23.2 billion in the 12 months to...

Petrobras to continue building natural gas processing unit at COMPERJ, to complete SNOX unit at Abreu e Lima refinery

July 25, 2016 | Francinia Protti-Alvarez

Petróleo Brasileiro S.A.(Petrobras; Rio de Janeiro, Brazil) will resume work at the Rio de Janeiro Petrochemical Complex (COMPERJ) project, following a board meeting held on 22 July.  Following the decision, works associated with COMPERJ natural...

Lion, East West petition for antidumping tariffs on ESBR

July 22, 2016 | Clay Boswell

Lion Elastomers (Port Neches, Texas) and East West Copolymer (Baton Rouge, Louisiana) say they have petitioned the US Department of Commerce and the US International Trade Commission to impose antidumping duties on emulsion styrene butadiene rubber (ESBR) from producers in Brazil, South Korea, Mexico, and Poland. The petitioners estimate the dumping margins for imports from these countries at 30-80%....

Sensient beats estimates on higher sales in colors

July 22, 2016 | Vincent Valk

Sensient Technologies today reported second-quarter net earnings down 4.5% year-on-year (YOY), to $28.1 million, on sales up 4.3%, to $360.8 million. Higher selling and administrative expenses drove down earnings despite broad sales growth. Adjusted earnings...

Honeywell beats estimates, but chemical results falter as prices decline

July 22, 2016 | Vincent Valk

Honeywell today reported second-quarter net income up 8% year-on-year (YOY), to $1.28 billion, on net sales up 2% year-on-year (YOY), to $9.9 billion. Earnings totaled $1.66/share, slightly ahead of analysts’ consensus estimate of $1.64/share, as...

Ineos reports lower second-quarter earnings on weak Asian markets, turnarounds

July 22, 2016 | Natasha Alperowicz

Ineos's Bamble and Rafnes, Norway sites. Ineos Group Ltd. reports a 7% drop in second-quarter Ebitda, to €570 million ($628.3 million), based on unaudited management information. This compares with a €554-million Ebitda achieved in the first quarter...

PPG matches estimates as volumes flatline

July 21, 2016 | Vincent Valk

McGARRY: Overall sales volumes consistent YOY. PPG today reported second-quarter net income of $370 million, or $1.37/share, up 10% year-on-year (YOY), on sales down 1%, to $4.1 billion. Adjusted earnings totaled $498 million, or $1.85/share, up 9% and...

Olin lowers second-quarter guidance to breakeven on weak US caustic, high costs

July 21, 2016 | Clay Boswell

Olin Corporation (Clayton, Missouri) has updated its financial guidance, citing weak demand for caustic soda and high raw material costs. The company now expects net income in the second quarter to be “approximately breakeven” and for adjusted Ebitda to total about $180 million. Guidance issued with the Olin’s first quarter results estimated net income of $0.10-0.20 per share and adjusted Ebitda of $220-240 million....

Patheon begins trading on NYSE, DSM raises $100 million in IPO

July 21, 2016 | Natasha Alperowicz

API and drug maker Patheon N.V. (Durham, North Carolina) begins trading on the New York Stock Exchange today under the symbol PTHN. The company has announced the pricing of the initial public offering of 29,761,905 of its ordinary shares at a public offering...

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