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Platform acquires Chemtura’s agchems business for $1 billion

4:25 PM MDT | April 17, 2014 | —Francinia Protti-Alvarez

Platform Specialty Products (Miami) has entered into a definitive agreement to acquire Chemtura’s pesticides business for $1 billion. The price consists of $950 million in cash plus 2 million shares of Platform common stock....


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SI Group to acquire Albemarle's antioxidants and ibuprofen business

SI Group (Schenectady, NY) has agreed to acquire the antioxidant, ibuprofen and propofol businesses of Albemarle for an undisclosed amount of cash. The deal includes manufacturing sites in Organgeburg, SC  and Shanghai, as well as technical support...

Momentive Performance Materials files for Chapter 11 (updated)

Silicones and quartz maker Momentive Performance Materials (MPM; Albany), which is controlled by private-equity firm Apollo Management, has filed for Chapter 11 bankruptcy protection in an attempt to implement a "pre-negotiated" restructuring plan to reduce debt by $3 billion. All of MPM’s silicones and quartz businesses will continue to operate normally during this period, the company adds....

Outlook 2014: Looking forward

Global economic and chemical output growth should continue to accelerate in 2014. “With improving economic prospects, headline growth for chemicals globally will improve to 3.8% in 2014,” says Kevin Swift, ACC chief economist and managing director. That number is up from expected global growth of 2.4% in 2013...

Goldman Sachs, Koch Industries partner to acquire Flint Group (updated)

Koch Industries and the private equity arm of Goldman Sachs have agreed to acquire printing inks maker Flint Group (Luxembourg) from CVC Capital Partners (London). Flint is the second-largest global producer of printing inks after DIC (Tokyo). Flint revenues for 2013 were €2.2 billion ($2.9 billion). Terms of the sale were not disclosed but sources say the price was close to Flint's 2013 revenues, $2.9 billion, and that the equity contribution of both Goldman and Koch will be roughly equal....

Balchem to acquire food ingredients maker SensoryEffects

Balchem says it has agreed to acquire SensoryEffects (St. Louis), a privately-held maker of food and beverage ingredients, for $567 million. SensoryEffects’ 2014 revenues should total about $260 million, and the purchase price represents a multiple of...

Monsanto tops estimates on strong soybean results

 Soybean sales and margin expansion lifted Monsanto's second-quarter results above expectations, and the company reaffirmed its fiscal 2014 guidance of mid-teens earnings growth. The company reports net income of $1.67 billion for its fiscal second...

Momentive Performance Materials considers bankruptcy filing

Momentive Performance Materials (MPM; Albany, NY), the silicones and quartz subsidiary of Momentive, is considering a bankruptcy filing as part of negotiations to reduce debt. “As part of this process, a filing under Chapter 11 of the US Bankruptcy Code may provide the most expeditious manner in which to effect a plan of reorganization,” MPM said in a regulatory filing....

Celanese eyes second US methanol plant

Celanese is exploring plans to construct a 1.3-million m.t./year methanol production unit at its Bishop, TX site. The company says it is preparing necessary environmental permits for the unit....

Chevron Phillips Chemical breaks ground on planned Cedar Bayou cracker

Chevron Phillips Chemical (CPChem; The Woodlands, TX) has broken ground on its US Gulf Coast (USGC) Petrochemicals Project at the Cedar Bayou plant in Baytown, TX....

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