IHS Chemical Week
COMPANIES

LyondellBasell ends negotiations to sell French refinery

12:36 PM MDT | April 17, 2014 | Ian Young

LyondellBasell says it has ended discussions to sell its mothballed refinery at Berre, France, to petroleum trading firm Sotragem (Monaco), and that it will make the closure of the refinery permanent. Privately owned Sotragem's proposal to buy the Berre...


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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...

Platform acquires Chemtura's agrochemicals business for $1 billion

Platform Specialty Products (PSP; Waterbury, CT), has entered into a definitive agreement to acquire Chemtura's agrochemicals business for $1 billion. The price consists of $950 million in cash, plus 2 million shares of PSP's common stock, PSP...

Honeywell performance material unit posts lower earnings

Honeywell today reported a fall in profit in its performance materials segment. Profit was down 3% year-over-year (YOY), to $374 million, driven by unfavorable petrochemical catalyst shipment mix versus the prior year, prices and raw headwinds in the fluorine...

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...

AkzoNobel's first-quarter net income up on lower financing costs

AkzoNobel registered €129 million ($178.3 million) in net income attributable to shareholders in the first quarter, up 45% year-on-year (YOY) mainly due to lower financing expenses. The result also reflects a positive volume and price-mix development in...

Alpek reports 61% drop in first-quarter net income

Alpek (San Pedro Garza García, Mexico) reported $24 million in net income during the first quarter, 61% down year-on-year (YOY) but a significant improvement from the $9-million loss recorded in the fourth quarter of last year. Ebitda was $105 million...

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...

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