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Olin third-quarter earnings fall 63% on continued weak chlor-alkali

2:47 PM MDT | October 24, 2014 | Clay Boswell

Weak chlor-alkali demand continues to take a toll on Olin’s quarterly results, but the company expects improvement in the fourth quarter. Olin reports third-quarter net income of $26 million, down 63% year-over-year (YOY) from $70 million. Sales totaled $594 million, down 11% YOY from $671 million. Adjusted earnings per share of 42 cents equaled the analysts’ consensus estimate reported by Thomson Reuters....


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Songwon signs deal with Sibur to supply additives used to produce polymers

Songwon Industrial (Ulsan, South Korea) and its distributor United Trading System (UTS; Saint Petersburg, Russia) have signed a long-term cooperation agreement to supply Sibur (Moscow) with additives used in polymer production and processing at Sibur’s...

FDA issues warning letter for Hikma Pharmaceuticals' plant in Portugal

Hikma Pharmaceuticals (London) says it received a warning letter from the FDA on Thursday concerning its plant in Portugal. This letter follows an inspection of the facility in March. FDA raises issues relating to investigations and environmental monitoring...

Siegfried API plant at Nantong receives operating approval

Siegfried (Zofingen, Switzerland), a producer of active pharmaceutical ingredients (APIs), pharma intermediates, and finished drugs, says that it has received operating approval from relevant authorities for phase one of the API production plant at its...

AkzoNobel opens vehicle refinishes plant in China

AkzoNobel says it has started operations at its previously announced new vehicle refinishes plant at Changzhou, China. Plans to build the plant were announced in 2011. The plant adds about 25 million liters of capacity for Sikkens-, Lesonal-, and...

Former Evonik board member becomes operating partner at Advent International

Dahai Yu, former board member of Evonik Industries, has joined private equity group Advent International as an operating partner. Yu lost his job at Evonik last year when the company decided to slim down its executive board. An executive with extensive...

Uralkali confirms appointment of CFO

Potash producer Uralkali (Berezniki, Russia) says that its board of directors, in a meeting on 23 October, approved the appointment of Anton Vishanenko as CFO of Uralkali and a member of the company’s management board. Vishanenko succeeds Viktor...

VCI: 'Highly ambitious' climate targets will result in weaker growth, reduced competitiveness

Germany’s chemical industry trade association VCI (Frankfurt) says that the target of a 40% reduction in greenhouse gas emissions agreed by European leaders is “highly ambitious.” The target will particularly effect emissions trading, which...

P-xylene prices fall in Europe on the back of softer Asian prices, weaker energy markets

Para-xylene (p-xylene) spot prices have come off significantly in Europe this month as p-xylene spot prices have dropped in Asia on the back of a significant fall in energy markets. Naphtha spot prices have dropped more than $100/m.t. this month, according to...

EPA proposes to remove 72 chemicals from approved pesticide inert ingredient list

The US Environmental Protection Agency (EPA) has proposed to remove 72 chemicals from its list of substances approved for use as inert ingredients in pesticide products. The move is in reponse to petitions from several advocate groups, including the Center...

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