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Westlake closes €490-million Vinnolit acquisition

9:31 AM MDT | July 31, 2014 | Francinia Protti-Alvarez

Westlake Chemical has closed the previously announced €490-million ($656.5 million) acquisition of polyvinyl chloride (PVC) manufacturer Vinnolit Holdings (Ismaning, Germany) and its subsidiary companies, from private equity firm Advent International...


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Ube widens loss

Ube Industries reports a net loss of about ¥1.1 billion ($10.7 million) in its fiscal first quarter ended 30 June, compared with a net loss of ¥200 million in the year-ago quarter. Sales in the first quarter decreased 3.2%, to ¥148.5 billion...

Solvay to sell Eco Services sulfuric acid business to CCMP Capital Advisors

Solvay says it has signed a binding agreement to sell its US-based sulfuric acid virgin production and regeneration business Eco Services to CCMP Capital Advisors, following a bidding process.  The transaction terms correspond to an enterprise value of...

Nippon Shokubai cancels China superabsorbents project

Nippon Shokubai, a leading producer of acrylic acid and superabsorbent polymers (SAP), today announced the cancellation of its project to double SAP capacity at its Nisshoku Chemical Industry (Zhangjiagang) subsidiary in China. The company announced the $56...

Solvay reports 2% rise in sales, adjusted Ebit jumps 56%, confirms full-year outlook

Solvay today reported net sales for second-quarter 2014 of €2.64 billion ($3.54 billion), an increase of 2% year-on-year (YOY). Operating profit (adjusted Ebit) was €291 million, up 56% YOY. Adjusted net income was (€331 million), compared with...

Sumitomo Chemical reports huge rise in profits

Sumitomo Chemical reports an 80.7% rise in net profits for its fiscal first quarter, ended 30 June, compared with the year-ago quarter, to ¥14.05 billion ($137 million). First-quarter sales increased 8%, to ¥556.8 billion. Sumitomo's basic chemicals...

Air Liquide's quarter-two revenue down 2.4%

Air Liquide reported €3.77 billion in revenues during the second quarter, down 2.4% year-on-year (YOY), according to the company's results published today. The figures exclude foreign exchange, cost of natural gas, and significant M&A impacts...

Tosoh reports fall in profits

Tosoh reports a 65.6% decrease in net profits for the company's fiscal first quarter ended 30 June 2014 compared with the year-ago period, to ¥2.2 billion ($21.5 million). First-quarter sales increased 1.7%, to ¥178.1 billion. Sales increased despite...

CB&I and Chiyoda awarded LNG export project in the US

CB&I together with Chiyoda Corp. have been awarded a front end engineering design (FEED) services contract for a proposed liquefied natural gas (LNG) export project by Golden Pass Products (GPP; Houston), a joint venture between affiliates of Qatar...

Versalis's losses widen, sales and production decline

Versalis (Milan), the chemicals arm of Italy’s energy major ENI (Rome), today reported widening operating and net losses and a decline in revenues and production. The company, which is undergoing a major transformation, reported an adjusted...

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