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SPECIALTY CHEMICALS

AkzoNobel opens vehicle refinishes plant in China

12:43 PM MDT | October 24, 2014 | Deepti Ramesh

AkzoNobel says it has started operations at its previously announced new vehicle refinishes plant at Changzhou, China. Plans to build the plant were announced in 2011. The plant adds about 25 million liters of capacity for Sikkens-, Lesonal-, and...


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Sensient Technologies net earnings decline; adjusted earnings beat estimates

Sensient Technologies today reported third-quarter net earnings down 32.4% year-on-year (YOY), to $21.3 million, on sales down 1.6%, to $364.5 million. Adjusted earnings from continuing operations totaled 78 cts/share, up 8.3% YOY, and slightly ahead of...

Minerals Technologies earnings beat estimates

Minerals Technologies (MTI) today reported net income up 69% year-on-year (YOY), to $37 million, on sales up 114%, to $543.5 million. The large increase in sales was mostly due to the inclusion of Amcol, which closed earlier this year. Adjusted earnings...

Asian Paints signs agreement to acquire Ethiopian firm, plans to invest in Indonesia

Asian Paints (Mumbai) said on Wednesday that its wholly owned subsidiary Berger International (Singapore) has signed a definitive agreement to acquire a 51% stake in the Ethiopian firm Kadisco Paint and Adhesive Industry (Addis Ababa), formerly known as...

Albemarle earnings beat estimates on strong catalysts results

Albemarle today reported third-quarter net income from continuing operations down 9.6% year-on-year (YOY), to $88 million, or 93 cts/share, on sales up 9%, to $642.4 million. Adjusted earnings, however, rose 5% YOY, to $1.14/share, beating analysts’...

Schulman earnings beat estimates on solid sales increases

A. Schulman today reported fiscal fourth-quarter net income of $15.2 million, compared with a net loss of $2.7 million in the year-ago quarter, on sales up 16.8% year-on-year (YOY), to $627.4 million. Adjusted income rose 20.4% YOY, to $19.5 million, or 66...

Eastman completes plasticizers capacity expansion

Eastman Chemical today said it has completed its expansion of non-phthalate plasticizers capacity at its Texas City, TX, manufacturing plant. The expansion will increase production capacity of Eastman’s non-phthalate plasticizers for PVC applications by...

Stepan falls short of estimates on weak surfactants results

Stepan today reported fiscal third quarter net income down 34% year-on-year (YOY), to $13.5 million, on sales up 3%, to $491.4 million. Adjusted net income declined 16% YOY, to $15.6 million, or 68 cts/share, well short of analysts’ consensus estimate...

Grace reports rise in sales, curbs full-year guidance

W.R. Grace today reported third-quarter net income of $74.5 million, down 3% year-over-year (YOY) on higher corporate and other expenses. Reported adjusted earnings of $1.07/share were down 8.5% YOY but surpassed analyst estimates of 95 cts/share, according to Thomson Reuters (New York). Sales grew 11% YOY, to $856.4 million due to higher sales volumes, improved pricing, and favorable currency translation—with acquisitions contributing 4% to growth, the company says. Adjusted Ebit for the third quarter was $180.9 million, up 27% YOY....

AkzoNobel sells stake in Eka Synthomer to partner, exits paper chemicals

AkzoNobel today announced a €5 million ($6.3 million) divestment of its 50% share in Eka Synthomer, to Synthomer. The divestment follows a strategic review of businesses within AkzoNobel’s portfolio. "Following an earlier announcement about...

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