IHS Chemical Week
SPECIALTY CHEMICALS

Albemarle earnings beat estimates on strong catalysts results

4:05 PM MDT | October 22, 2014 | Vincent Valk

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’...


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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...

Kemira improves profitability on lower sales in third-quarter 2014

Kemira (Helsinki) has announced Ebitda of €69.9 million ($89.3 million) in third-quarter 2014, compared with €68.9 million in the corresponding period in 2013, or 1.5% year-on-year (YOY). Ebitda margin was 12.9%, versus 12.4% a year ago. Revenue in...

OCI to sell stake in water treatment chemicals producer OCI-SNF

OCI (Seoul) said today that it is to sell its entire stake in the OCI-SNF (Seoul) joint venture for 95.7 billion South Korean won ($89.9 million). OCI-SNF produces and markets water treatment and paper-making chemicals containing organic polymer flocculants...

PPG, Henan Billions Chemical open TiO2 manufacturing plant in China

PPG and Henan Billions Chemical (Jiaozuo, China) have opened a titanium dioxide (TiO2) manufacturing and research facility. The 366,000-sq meter facility is scheduled to begin production in the first quarter 2015 and will manufacture 100,000 m.t./year...

PPG to acquire paint distributor Westmoreland Supply

PPG says it has agreed to acquire Westmoreland Supply (Greensburg, PA), an owner of 12 paint stores in western Pennsylvania and West Virginia, for an undisclosed sum. Westmoreland’s stores will be integrated into PPG’s network of 900 stores in...

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