COMPANIES

Dow to use K-Dow award for debt repayment

9:40 AM MDT | May 24, 2013 | Vincent Valk

Dow Chemical today announced plans to use up to $2 billion of its $2.2 billion payout from Petrochemical Industries of Kuwait (PIC) over the K-Dow joint venture termination to pay down high-interest debt. The moves will reduce Dow’s annual interest...

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Croda acquires Arizona Chemical's specialty products business

Croda has completed the acquisition of Arizona Chemical's (Jacksonville, FL) specialty products business, a producer of naturally derived polyamides. "The varied functionality of these specialized polyamides will be a valuable addition to our...

Report: Braskem still planning $3.5-billion petrochemical complex in Peru

Braskem (Sao Paolo) is still planning to build a previously reported $3.5-billion petrochemical complex in Peru, in alliance with the country's state-run energy company PetroPeru (Lima), according to a report from Reuters. Braskem and PetroPeru signed a...

Air Liquide names Dow executive as head of US industrial gas business

Air Liquide has realigned its executive management team in the US, including the recent hire of former Dow Chemical executive Jeff Buckley to lead the company's US industrial gas business. Michael Graff remains chairman and CEO of American Air Liquide, and...

Teijin to shut US carbon fiber production unit

Toho Tenax, the carbon fiber unit of Teijin (Tokyo), has announced plans to suspend production of carbon fiber at its Rockwood, TN site by the end of the third quarter....

Solvay to build biobased nylon production facility in France

Solvay says it has decided to invest an undisclosed sum to build a production unit for the biobased nylon polymer PA6,10 at at Saint-Fons, France. The plant is intended to meet demand from customers seeking eco-friendly products, the company says. The...

Oman plans cracker and polyethylene plant at Suhār

Oman Oil Refineries and Petroleum Industries Co. (Orpic; Muscat) plans to build an olefins complex and a polyethylene plant at the port of Suhār, Oman, at a cost of about $3 billion. The project, together with previously announced investments—including...

Siam Cement’s chemicals unit reports huge rise in profits

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok), reports a more than doubling in profits for the first quarter of 2013 compared with the year-ago quarter, to 2.63 billion baht ($91 million), mainly because of better margins, SCG...

Korean companies report mixed results for the first quarter

Leading Korean chemical companies report mixed financial results for the first quarter of 2013. LG Chem posted a 10.6% decline in net profits for the first quarter compared with the year-ago period, to 340.4 billion South Korean won ($308 million)...

BASF, Petronas to build aroma ingredients facility in Malaysia

BASF and Petronas Chemicals say they will invest a total of $500 million in an integrated aroma ingredients project at the companies’ BASF Petronas Chemicals joint venture site in the Gebeng Industrial Zone at Kuantan, Malaysia....

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