IHS Chemical Week
SPECIALTY CHEMICALS

Ferro beats estimates, raises full-year guidance

3:09 PM MDT | April 23, 2014 | Vincent Valk

Ferro today reported first-quarter net income of $17.2 million, compared with $883,000 in the year-ago quarter. Adjusted earnings totaled 19 cts/share, nearly double the year-ago quarter’s earnings, which were hit by a loss from discontinued operations...


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MORE SPECIALTY CHEMICALS

Milliken to increase capacity for PP clarifier

Milliken (Spartanburg, SC) announced today that it is building new capacity for a clarifying agent for polypropylene (PP) at Blacksburg, SC. The new capacity will be onstream in 2015, and the investment is the company’s "most significant capital...

Ashland CEO to retire

Ashland chairman and CEO James O’Brien will retire at the end of this year, the company says. O’Brien became CEO at Ashland in 2002 and oversaw two major acquisitions, those of Hercules and International Specialty Products, that turned the company...

Asian Paints to acquire majority stake in Ethiopia’s Kadisco Chemical

India’s largest paints company Asian Paints (Mumbai) has informed the Bombay Stock Exchange (Mumbai) that it has signed an agreement with the shareholders of Kadisco Chemical Industry PLC (Addis Ababa), to acquire a 51% stake in Kadisco. This company...

Sherwin-Williams beats estimates on sales increase

Sherwin-Williams (SW) has reported first-quarter net income down 0.6% year-on-year (YOY), to $115.5 million, on sales up 9.2%, to $2.37 billion. Earnings totaled $1.14/share, including a 12 cts/share loss related to the Comex acquisition. SW terminated its...

PPG earnings beat estimates on higher volumes

PPG today reported net income from continuing operations up 45% year-on-year (YOY), to $277 million, on sales from continuing operations up 17%, to $3.6 billion. Adjusted earnings, excluding a small restructuring charge, totaled $1.98/share, beating...

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...

Albemarle earnings fall but beat estimates

Albemarle today reported net income down 32.6% year-on-year (YOY), to $56.6 million, or 71 cts/share, on net sales up 2.3%, to $656.7 million. Net income fell primarily due to charges related to pension and retiree benefits, while sales rose mostly on higher...

Lubrizol forms energy and water unit

Lubrizol says it has formed an energy and water business unit to focus on its offerings oilfield, refinery process and industrial water treatment chemicals. The unit is a part of the company’s industrial specialties segment. As a part of the expansion...

Schulman sets double-digit sales and earnings growth targets

A. Schulman has announced that it is aiming to grow sales by 10-11%/year through 2018, to $3.6-$3.7 billion. The company is also aiming to grow adjusted earnings by an average of 19-20%/year through 2018, to $4.50-$4.75/share, and adjusted Ebitda by...

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