IHS Chemical Week
CHEMWEEK'S LAB

Shell confirms plans to rebuild Moerdijk POSM unit

12:59 PM MST | February 27, 2015 | —Ian Young

Royal Dutch Shell says that it has made a final investment decision to rebuild the Ellba propylene oxide–styrene monomer (POSM) plant at Shell Chemicals’ Moerdijk, Netherlands, site, which was badly damaged by an explosion in June 2014. Shell...


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Asahi Kasei to buy Polypore in deal valued at $3.2 billion

Asahi Kasei has reached an agreement to acquire Polypore International (Charlotte, NC) in a deal that values Polypore at $3.2 billion....

Asahi Kasei to acquire Polypore in deal valued at $3.2 billion

Asahi Kasei will retain Polypore’s energy storage business, a maker of polymer membranes that separate the cathode and anode in batteries. As part of the deal, 3M (St. Paul, MN) will acquire the assets of Polypore’s separations media business, which produces membranes and membrane modules used in hemodialysis, blood oxygenation, plasmapheresis, other medical applications, for about $1 billion immediately prior to Asahi Kasei’s acquisition of Polypore....

Leading Japanese companies report improved earnings

A large majority of the leading chemical companies based in Japan have reported improved earnings for the fiscal first nine months, ended 31 December 2014. Only Teijin and Tokuyama report losses for the period, and Ube Industries reports a fall in net...

Earnings reflect softer demand offsetting weaker euro

through the weakening of the euro, early-reporting companies based in Europe gained some relief in the fourth quarter of 2014 from the currency headwinds they had been battling all year. However, they continued to face relatively weak demand in European...

Trian and DuPont step up fight over board seats

Activist hedge fund Trian Fund Management (New York) on 11 February filed a proxy statement with SEC for its four nominees to stand for election to DuPont’s board at the company’s next annual meeting....

Activists advance

For better or worse, activists are likely to be a recurring theme in industry. Even with recent high-profile spats involving blue chips names, such as Air Products, Dow Chemical, and DuPont, activist activity is likely to expand to more companies. Activists are raising funds at an aggressive pace, and high-profile campaigns against chemical makers may draw others to the sector....

Omnova and Barington reach agreement on board seats

Omnova Solutions has agreed to support two board nominees backed by activist investor Barington Capital (New York), avoiding a possible proxy fight....

Mohamed Al Mady steps down as CEO of Sabic, Al Benyan appointed acting CEO

Sabic said on 15 February that Yousef Abdullah Al Benyan had been appointed acting CEO of the company. This follows the appointment by the new Saudi King Salman of Mohamed Al Mady to the post of president of the country's Military Industries Corp...

Oil to drive near-term petchem weakness, longer-term demand surge and tighter supply

The immediate result of declining crude oil prices on the petrochemical market has been destocking and a pause in investment, but in the longer term, demand will surge past earlier projections as lower energy costs boost economic growth, and supply will tighten, says Dave Witte, senior v.p. and general manager of IHS Chemical....

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