IHS Chemical Week
COMPANIES

Carlyle to sell additional Axalta shares

3:28 PM MDT | March 30, 2015 | Vincent Valk

Private equity firm The Carlyle Group (Washington, DC) has announced it is selling 35 million shares in Axalta in a secondary offering. The exact timing and price of the offering have not been disclosed. Carlyle currently owns about 74.1% of Axalta, and will...


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Momentive Performance Materials Ebitda rises after bankruptcy

Momentive Performance Materials (MPM) today reported fourth-quarter net sales of $603 million, down 2% year-on-year (YOY), with segment Ebitda totaling $61 million, up 17%. The company reports a net gain of nearly $2 billion due to restructuring items, since...

Report: Fidelity stepping in to resolve DuPont proxy fight

Investment firm Fidelity (Boston) has stepped in to urge a solution to the proxy battle between DuPont and activist hedge fund Trian Fund Management (New York), according to a Reuters report. Trian disclosed in an SEC filing last week that it had been...

Airgas to construct ASU near steel plant in Alabama

Airgas says it is building a new air separation unit (ASU) to produce tonnage oxygen, nitrogen, and argon for a Nucor plant in Tuscaloosa, AL. The ASU will supply Nucor’s plant via pipeline. It will come onstream in spring 2017 and will also supply...

Albemarle raises elemental bromine prices

Albemarle yesterday said it is raising prices for elemental bromine and bromine derivatives by 30%. The increases will be effective immediately or as soon as contracts permit. Clear brine fluids for oil drilling applications are not included in the price...

IHS WPC: Basic chemical capacity to grow 4%/year this decade

Demand for key basic chemicals has surged since the financial crisis of 2008-2009, but imbalances in supply and demand have emerged that will shape margins through the end of the decade, says Mark Eramo, v.p./global chemical insights at IHS Chemical. Ethylene and vinyls are set to benefit, but methanol could be challenged....

Gurit appoints CFO

Composite materials supplier Gurit (Zurich) said today it has appointed Angelo Quabba as CFO and a member of the company’s executive committee, effective 1 August. Quabba is currently executive v.p./finance at Bruker's (Billerica, MA) analytical and...

H.B. Fuller earnings fall on currency, full-year guidance reaffirmed

H.B. Fuller has reported fiscal first-quarter net income down 34% year-on-year (YOY), to $9.7 million, or 19 cts/share, on net revenue down 3.2%, to $470.7 million. Adjusted earnings fell 39% YOY, to 30 cts/share. Revenues fell largely because of negative...

Germany: Large companies buy into start-ups to tap creativity

One in every five large (more than 1,000 employees) industrial companies in Germany is involved in a start-up in order to support innovation. But only 1 in 10 firms with fewer than 1,000 employees follow this strategy. These statistics are two of the key...

Trian files new DuPont proxy, slams Kullman over stock options

Activist hedge fund Trian fund Management (New York) today filed a definitive proxy statement with SEC for its four director nominees to stand for election to DuPont’s board at the company’s next annual meeting. The four nominees are Trian founder...

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