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COMPANIES

Trecora Resources reports record fourth-quarter sales, full-year sales up 23%

10:06 AM MST | March 6, 2015 | Michael Ravenscroft

Trecora Resources (Sugar Land, TX) has announced record fourth-quarter sales of $74.1 million in 2014, an increase of 11.2% year-on-year (YOY) and net income of $2.2 million in the reporting period. Gross profit for fourth-quarter 2014 was $12.3 million...


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Moody's: strong dollar mildly negative for US chemical companies

The strengthening US dollar will be a mild negative for the credit for major US chemical companies, according to a new report by Moody’s Investors Service (New York), a ratings agency. It will be a more significant headwind for companies with large...

Petrobras raises divestment target to $13.7 billion

Petrobras has confirmed that it plans to divest about $13.7 billion of assets in 2015-16. The planned divestments are a revision of Petrobras's previous plan—announced in February 2014—to divest $5-11 billion of assets in 2014-18. The revised...

Olin lifts force majeure on chlorine, salt from McIntosh facility

Olin says normal production of chlorine and chemically pure salt at the company's McIntosh, AL, facility has resumed, and that the company is lifting a force-majeure declaration made on 10 February. Olin says it remains on order control for chlorine owing to tight supply in its overall system....

Perstorp starts up oxo unit, its largest plant investment

Perstorp (Perstorp, Sweden) has announced the successful start-up of its oxo plant at Stenugsund, Sweden. The new plant is Perstorp’s largest ever plant investment, boosting its total oxo capacity by 150,000 m.t./year. The company will use the plant to...

DuPont, Train spar over universal proxy card

DuPont and activist hedge fund Trian Fund Management (New York) this week traded barbs over DuPont’s rejection of a universal proxy card for the company’s upcoming board of directors election. Trian had suggested the use of a universal proxy card...

ExxonMobil to reduce group capital spending through 2017, chemical business showing resilience

ExxonMobil expects to reduce capital spending over the next three years while starting up 16 major oil and natural gas projects and increasing production, says Rex Tillerson, chairman and CEO....

Ineos to integrate Ineos ABS, Styrolution in the Americas by year-end

Ineos plans to integrate the Americas business activities of Ineos ABS into Styrolution by the end of 2015. The marketing, sales, customer service, supply chain, procurement, R&D, human resources, and manufacturing functions of the two businesses will be merged, says Ineos....

Axalta opens water-based coatings plant in Shanghai

Axalta today opened an automotive water-based coatings plant in China. The plant, which is adjacent to Axalta’s operations center in Shanghai’s Jiading district, will double the company’s capacity in China for water-based coatings...

Lenzing expects to report a loss in 2014, but operating results above expectations

Lenzing Group (Lenzing, Austria) says today that it expects consolidated sales to be €1.86 billion ($2.1 billion) in full-year 2014, according to preliminary figures, compared with €1.91 billion in 2013, a decrease of 2.6% year-on-year. This drop...

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