COMPANIES

IFF Adjusted Earnings Beat Estimates

11:39 AM MST | February 9, 2012 | Vincent Valk

International Flavors & Fragrances (IFF) fourth-quarter 2011 earnings fell 56% year-on-year, to $24.4 million, or 30 cts/share. The decline was due to a 44 cts/share charge related to a patent litigation settlement. Adjusted earnings, which exclude the...

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BASF to Co-Develop Sustainable Tomato Production with Chinese Company

BASF says it has agreed with Cofco Tunhe (Bejing), to co-develop and enhance sustainable tomato cultivation in China. Cofco Tunhe is one of the world's largest tomato producers and processors, BASF says. A production system that addresses needs...

Showa Denko Reports Losses and a Slight Decrease in Sales

Showa Denko recorded net losses of ¥500 million ($6.5 million) in the fourth quarter of 2011, compared with ¥3.3 billion in net profits in the corresponding period of the previous year. Sales and operating income also went down by 0.3% and...

Hikal Reports Increase in Net Profits and Sales

Hikal (Mumbai), an active ingredients and intermediates manufacturer, says net profits for its fiscal third quarter ended December 31, 2011, more than doubled year over year to Rs130 million ($2.63 million) . Sales were also up by 84%, to Rs1.855...

S&P Raises Rockwood’s Credit Rating

Standard & Poor’s (S&P; New York) has raised Rockwood Holdings’ corporate credit rating to ‘BB+’ from ‘BB’ due to an improvement in the company’s leverage position and financial performance. Rockwood is...

Agrium Earnings Rise 43%

Agrium today reported fourth-quarter net earnings of $193 million, or $1.20/share, up 43% from the year-ago period. Excluding a $134 million loss from discontinued operations, fourth-quarter earnings totaled $327 million, or $2.04/share. Discontinued...

Odfjell Reports Stable Losses Despite Increase in Sales

Odfjell says net losses in the fourth quarter of 2011 were $8 million, exactly the same net result as in the fourth quarter of 2010. Odjfell's sales and Ebitda increased 19% and 11% year over year, to $322 million and $31 million, respectively, in the fourth...

Mexichem Acquires Wavin to Create Global Leader in PVC Pipe Systems

Mexichem (Tlalnepantla, Mexico) says it has agreed to acquire 100% of Wavin (Zwolle, the Netherlands) for approximately €531 million ($704 million). Mexichem intends to make a cash offer of €10.50 per Wavin ordinary share. The offer represents...

3M Names Thulin CEO

3M has named Inge Thulin president and CEO, effective February 24. He succeeds George Buckley, who will retire on June 1. Thulin is currently 3M’s COO, a position...

Kemira Reports Higher Net Profits but Lower Sales

Kemira says net profit from continuing operations in the fourth quarter of 2011 was €37.8 million ($50 million), 51% higher than the €25.1 million reported in the same quarter of 2010. Earnings per share (EPS) also increased 60% year over year, to...

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