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Armenian government rejects bankruptcy recommendation for synthetic rubber plant

1:58 PM MDT | July 29, 2015 | Francinia Protti-Alvarez

The World Bank has recommended that the Armenian government put Nairit (Yerevan), a debt-ridden synthetic rubber plant, into bankruptcy. The World Bank announced last February that it would audit the technical and financial viability of the plant, which is...


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MORE EUROPE

Solvay to close sodium percarbonate plant in Italy

Solvay announces on Wednesday that it will stop producing sodium percarbonate at Rosignano, Italy, by the end of the first quarter of 2016. The company cites the lower use of powder detergent in Western Europe, the largest market for sodium percarbonate as a...

Total's refining and chemical profits leap on higher margins

Adjusted net operating income of Total's refining and chemicals business increased threefold in the second quarter of 2015 compared with the corresponding period of last year, to $1.35 billion, and adjusted operating income increased fourfold year-on-year...

Solvay swings to a net profit, sales up on currency effects

Solvay reports consolidated net income of €164 million ($181.4 million) in the second quarter, swinging from a €331-million loss in the same period last year, according to the company results released Wednesday. Ebit stood at €271 million, down...

Solvay to build high-purity H2O2 plant in Italy to serve electronics customer

Solvay’s Special Chem business unit has partnered with one of the world’s leading electronics producers, under which Solvay will build a high-volume, high-purity hydrogen peroxide (H2O2) plant in Italy to meet the fast growing demand of the...

Europe benzene under pressure in runup to August contract settlement

Europe's benzene price is under pressure in the runup to contract price discussions as a combination of a weaker US market and lower crude numbers have pulled spot prices lower this week. Brent crude has touched $52/barrel yesterday and today—a low not...

DSM and Evonik to develop algae-based omega-3 fatty acids for animal nutrition

DSM's nutritional products segment (Kaiseraugst, Switzerland) and Evonik's nutrition and care arm (Essen, Germany) on Wednesday announced that they have entered into a joint development agreement for algae-based omega-3 fatty acid products for animal...

Bayer raises second-quarter sales and earnings, lowers forecast

Bayer on Wednesday reported a 21% increase in second-quarter net income, including discontinued operations, to €1.15 billion ($1.27 billion), on 18% higher sales of €12.1 billion. Ebitda before special items advanced 33% to €2.90 billion. All...

Linde revenue, Ebit up after currency effects (updated)

Linde has announced sales of €4.64 billion ($5.13 billion) in second-quarter 2015, compared with sales of €4.17 billion in the year-ago quarter, or 11% year-on-year (YOY). After adjusting for exchange rate effects group revenue rose by 0.7% in the...

Solvay to acquire Cytec for $6.4 billion

Solvay says that it has signed a definitive agreement to acquire Cytec Industries (Woodland Park, NJ) for $75.25/share in cash, or a total of $5.5 billion. The transaction price per share represents a premium of 28.9% compared with Cytec's closing...

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