LyondellBasell reported a fourth-quarter net loss of $218 million, compared with a profit of $766 million in the year-ago quarter. Sales rose 11%, to $11.4 billion. Weaker results were attributed to customer destocking, a slowdown in Europe and Asia, poor refining margins, and one-time charges. LyondellBasell says earnings were negatively impacted by $448 million, or 79 cts/share, in charges relating primarily to refinancing costs and the suspension of operations at its Berre, France refinery. LyondellBasell enjoyed a net income benefit of $151 million in the year-ago quarter, due primarily to a favorable inventory adjustment....
Momentive Specialty Chemicals, the thermoset resins operations of Momentive Performance Materials Holdings, reported preliminary operating income of $14 million for its fiscal fourth quarter, 91% lower than the same year-ago quarter. Sales are expected to be...
Dover Chemical will pay $1.4 million to settle alleged violations of the Toxic Substances Control Act (TSCA), EPA says. Dover violated TSCA part 720 by manufacturing short-chained, medium-chain and long-chain chlorinated paraffins without first...
The government of Trinidad & Tobago has authorized the Ministry of Energy to start negotiations with a consortium of Sabic and Sinopec (Beijing) on its proposed plan to build two petrochemical complexes using methanol as feedstock at a combined cost of...
The Indian Ministry of Chemicals and Fertilizers will shortly present a proposal for the creation of a Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) near Cuddalore, according to K. Jose Cyriac, the Indian government’s secretary for...
Tokuyama (Tokyo) has recorded a 26.4% fall in net profits for the nine months ended December 31, 2011, compared with the year-ago period, to ¥3.9 billion ($50 million). Sales decreased 1.6%, to ¥211 billion, mainly due to the impact of the earthquake...
DIC Corp. (Tokyo) has recorded a 4.5% fall in net profits for the fiscal first nine months ended December 31, 2011, compared with the year-ago period, to ¥15.9 billion ($205 million). Sales for the nine months also decreased by 4.5%, to ¥561.5...
Rockwood Holdings says it plans to invest $140 million to build a 20,000-m.t./year lithium carbonate production plant at LeNegra, Chile. The plant is expected to come onstream by the end of 2013. Along with the company’s current $75-million expansion...
Siam Cement notified the Stock Exchange of Thailand today that it and its Vietnamese and Qatari partners have signed a joint venture agreement for a previously announced petrochemical complex in Vietnam. The partners will invest $4.5 billion in the project, following a final investment decision, which is expected next year....
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