IHS Chemical Week
PEOPLE & BUSINESS

Gail and Sumitomo Corp. sign MOU on energy and petchems cooperation

Gail India and Sumitomo Corp., one of Japan’s largest trading groups, on Friday announced the signing of a memorandum of understanding (MOU) covering cooperation in gas procurement and petrochemicals. Under the MOU, Gail and Sumitomo will pursue...

Dow beats estimates

Dow Chemical's second-quarter results beat estimates as margins improved in its performance plastics segment and sales increased across all of the company's business segments. Dow reports second-quarter net income of $882 million, down 62.3% year-on-year...


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People/Executives

Sensient earnings drop on restructuring charges

Sensient Technologies (Milwaukee) says that net income for the quarter fell 10% year-on-year (YOY) because of $13 million in restructuring costs. The company says that adjusted operating income increased by 11%, to$61.2 million. Sales were down 1% YOY, to $374.7 million. Reported adjusted earnings 81 cts/share rose 10% YOY and were above analyst estimates of 79 cts/share, according to Thomson Reuters (New York)....

Companies

Sipchem Misses Earnings Estimates on Lower Revenues

The Saudi International Petrochemical Co. (Sipchem) reported third quarter net profit of SR84.1 million ($22.4 million), a 54% increase on the third quarter of 2009. The result was lower than consensus estimate of SR128 million and that of Sico Research...

Emerging Companies

Edeniq partners with Chinese firm to develop corn stover-to-industrial sugars technology

Edeniq (Visalia, CA), a cellulosic sugar producer, has signed a letter of intent with Global Bio-chem Technology Group (Hong Kong) to develop and commercialize processes to convert corn stover to industrial sugars for use in the production of chemicals...

Earnings/Finance

Sabic Reports Big Rise in Net Profit on Increased Sales and Higher Prices

Saudi Basic Industries (Sabic) reported a 46% rise in third quarter net profit to SR5.33 billion ($1.42 billion) compared with the same period in 2009. The net result was 6% higher than in the second quarter of this year. The company's gross income in the...

M&A

Stora Enso acquires North American biotechnology company

Stora Enso (Helsinki) has acquired 100% of the shares of the Virdia (Danville, VA), a developer of extraction and separation technologies for converting cellulosic biomass into highly refined sugars and lignin, Stora Enso says. The  transaction was...

Reach

ECHA adds several substances to registry of intentions under Reach

The European Chemicals Agency (ECHA; Helsinki) says that four new intentions and five new submissions for harmonised classification and labelling (CLH) have been added to the public registry of intentions (RoI). The aim of the RoI is to make interested...











 
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