IHS Chemical Week

Dow beats estimates on margin and volume gains

April 28, 2016 | Robert Westervelt

Dow Chemical reported better-than-expected first-quarter earnings as stronger volumes and lower costs more than offset sharp pricing declines. Reported operating earnings were 89 cts/share, up 6% YOY, and 7% above analyst estimates....

DuPont earnings beat estimates on better-than-expected ag results

April 25, 2016 | Robert Westervelt

DuPont reported first-quarter net income of $1.2 billion, up 19% year-on-year (YOY) due mainly to a gain from the sale of assets in China. Reported operating earnings of $1.26/share were flat with the year-ago quarter and 21% above analyst estimates, as...

W.R. Grace to acquire BASF's polyolefin catalysts business

April 22, 2016 | Natasha Alperowicz

BASF announced on Friday that it signed an agreement to sell its global polyolefin catalysts business to W.R. Grace. BASF and Grace intend to complete the transaction in the third quarter of 2016....

AkzoNobel's first-quarter net income up almost 50%, reflecting operational improvements

April 19, 2016 | Francinia Protti-Alvarez

AkzoNobel's first-quarter net income from continuing operations totaled €240 million ($271.2 million), up 48% from the same period last year, the company has announced today. Ebitda also grew, but by just 5% year-on-year (YOY), to €487 million, reflecting continuous-improvement initiatives and lower costs, partly offset by adverse currency effects...

OxyChem announces $145 million Geismar expansion for refrigerant precursor

April 18, 2016 | Clay Boswell

Occidental Chemical (OxyChem; Houston) has announced a $145 million expansion of its Geismar, LA, manufacturing plant. The project will include equipment for the production of a new raw material for next-generation refrigerants. Construction will begin in May, says the company, which expects to finish the project in late 2017....

New PET dumping duties unlikely to reduce US imports

April 18, 2016 | —Clay Boswell

New antidumping duties on polyethylene terephthalate (PET) resin from China, India, Oman, and Canada are unlikely to reduce imports by the United States, but they may improve the margins of domestic producers, IHS Chemical says....

Ashland to IPO part of Valvoline, spin-off on track

April 18, 2016 | —Jing Chen

Ashland said on 13 April that it will pursue an initial public offering of up to 20% of the common stock in Valvoline as a first step in separating the business from Ashland. The overall separation, which was announced in September 2015, is expected to be complete about six months after the IPO, when Ashland distributes Valvoline’s remaining common stock to Ashland shareholders in a tax-free spin-off....

Invista starts up Shanghai HMD plant

April 18, 2016 | Clay Boswell

Invista says it has started up a new 215,000 m.t./year hexamethylene diamine (HMDA) plant in Shanghai, part of a $1 billion nylon-6,6 project first announced in 2007, but  delayed until 2014 by the economic downturn....

Calgon Carbon to acquire Arkema’s activated carbon and filtration media business

April 18, 2016 | —Natasha Alperowicz and Robert Westervelt

Calgon Carbon has agreed to acquire Arkema’s wood-based activated carbon and filtration media business for €145.5 million ($160.1 million)....

ACC: US chemical projects linked to shale reach $164 billion

April 11, 2016 | —Clay Boswell

ACC says the number of announced chemical capital projects in the United States tied to the shale gas revolution has reached 264. ACC estimates the total potential investment at $164 billion, of which 40% is completed or under way and 55% is in planning....

Westlake goes hostile after Axiall rejects revised bid

April 11, 2016 | —Clay Boswell

Axiall’s board of directors, on 4 April, turned down a second, $3.1-billion acquisition bid from Westlake Chemical. Westlake responded the same day by formally ending negotiations and asking Axiall shareholders to elect a new board selected by Westlake....

Report: Honeywell considering nylon chemicals sale?

April 7, 2016 | Vincent Valk

Honeywell is considering a sale of its nylon chemicals business, a maker of caprolactam and related products, according to a Bloomberg report. The report said that the business could sell for about $1 billion. The business includes North America's largest...

Vale denies talks of fertilizer assets sale to Yara

April 7, 2016 | Francinia Protti-Alvarez

Vale (Rio de Janeiro) denied that it was negotiating the sale of fertilizer assets to Yara (Oslo), according to a statement issued by the company on 6 April. The statement followed a report that appeared in Brazilian newspaper Valor Economico stating that...

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