IHS Chemical Week
CHEMWEEK'S LAB

Dow confirms plans to sell Angus, sodium borohydride, and AgroFresh...

2:44 PM MDT | October 3, 2014

Dow Chemical expects to have buyers for the Angus Chemical Company, sodium borohydride, and AgroFresh businesses by the end of the year, confirming earlier reports that it would divest those businesses. Dow says it is on track to meet its goal of divesting...


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ExxonMobil Chemical president Pryor to retire in January

ExxonMobil’s board is expected to name Neil Chapman, currently senior v.p./polymers, as Pryor’s successor, effective 1 January 2015....

Dow Chemical, Third Point reach agreement on board seats

Dow Chemical and hedge fund Third Point (New York) have reached an agreement on the composition of Dow’s board, averting a potential proxy fight for at least one year....

AkzoNobel says US subsidiary was target of $66-million "external fraud"

AkzoNobel says one of its US subsidiaries in Chicago was the target of “external fraud [that] involves an amount of up to €53 million ($66 million),” the company says.  AkzoNobel says that "at this stage the company is not...

Third Point prepares for proxy fight at Dow Chemical

Activist hedge fund Third Point, which has been openly critical of Dow Chemical management since January, intends to wage a proxy battle for board seats at Dow's 2015 annual meeting, according to SEC filings....

Dow updates strategy as Third Point raises pressure

Dow Chemical announced plans on 12 November to cut its stake in its Kuwaiti petrochemical joint ventures and sell its Angus Chemical subsidiary to private equity firm Golden Gate Partners for $1.2 billion. Dow announced the deals as part of a strategy update at its investor day in Lake Jackson, TX, where the company also announced plans to realign external reporting, increase its dividend, and expand a shareholder repurchase program....

Dow to cut stake in Kuwait petchem JV's

Dow has also announced an agreement to sell Angus Chemical, a producer of nitroalkane-based specialty chemicals, to private equity firm Golden Gate Capital for $1.2 billion....

ExxonMobil Chemical earnings up 17% on flat volume

ExxonMobil posted third-quarter chemical earnings of $1.2 billion, up 17% from same year-ago quarter quarter on stronger commodity margins. Margins increased earnings by $210 million, with improved commodities realizations partly offset by weaker specialties...

Former DuPont CEO Holliday to become first American chairman of Royal Dutch Shell

Chad Holliday, 66, former CEO of DuPont and former chairman of Bank of America, will become the first American chairman at Royal Dutch Shell, Shell said Thursday. Holliday, already a non-executive director at Shell, will lead the company’s board through...

Eastman earnings fall on one-time charges, full-year outlook remains strong

Eastman Chemical’s third-quarter net earnings fell 31%, to $212 million, due to the one-time impact of restructuring changes, Operating earnings were $427 million, up 5.4% YOY on higher advanced materials and adhesives and plasticizers earnings. Eastman says it now expects full-year earnings to “approach $7/share,” toward the higher end of previous estimates....

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