EARNINGS/FINANCE

Fueling Catalyst Demand

2:19 PM MDT | May 23, 2012

Despite modest growth forecasts, refinery catalyst makers remain optimistic about their prospects. Demand for fuels in high-growth economies, particularly China, is transforming refining markets as this week’s cover story shows (p. 21). Demand for fluid...

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Moody's Predicts Solid Growth in North American Commodity Markets

Moody’s, in its near-term credit ratings forecast for the North American and European and Mideast (EMEA) chemical sector, indicated that solid growth in the developing markets as well as modest growth in North America will offset the mild recession in Europe. Price increases are expected to remain a leading driver of growth through 2013, and the high-price environment supports commodity chemicals over specialty chemicals, Moody's says....

Israel Chemicals Reports Slight Increase in Sales and Net Profits

Israel Chemicals (ICL; Tel Aviv) says first quarter sales and net profits increased 1.5% and 3.3% to approximately $1.55 billion and $289 million, respectively. This compared with $1.53 billion and $280 million in the year-earlier period. The...

Chemical Finance Digest, May 22

Topping the headlines last week, Cytec’s transformation strategy continues apace. The company has launched a formal sale process for its coatings resins business, which could easily fetch a billion-dollar plus valuation, shortly after selling its...

ACC's Economic Outlook for the Week Ended May 18, 2012

MACROECONOMIC STATUS Our running tab of positive indicators remained steady at 15 out of 20 this week. Thus, we continue to post a green banner. Consumer Prices ≈ 0.0%; up 2.3% Y/Y Retail Sales up 0.1%; up 6.4% Y/Y Business Inventories up 0.3%; up 6.6%...

Materials Prices Fall Sharply

Commodity prices have had one of the steepest weekly slips since the recession, according to the IHS Global Insight Industrial Materials Price Index (GIIMPI). The 3% decline comes as market sentiment sours over the impact of elections and austerity programs in Europe....

Cytec Launches Coating Resins Sale Process

Cytec has launched a formal sale process for its coating resins business, its largest unit by sales. The company announced that it was exploring a sale of coating resins last fall. It has retained J.P. Morgan Securities (New York) to work on the deal. Cytec...

Tosoh Reports Fall in Profits

Tosoh recorded a 6.3% fall in net profits for the fiscal year ended March 31, 2012, compared with the previous fiscal year, to ¥9.4 billion ($118 million). Sales for the fiscal year increased 0.4%, to ¥687.1 billion. “The decline in...

Chemical Industry Weekly News Round-Up, May 18

This Week on CW: At APIC 2012 in Kuala Lumpur, speakers and attendees discussed the positive outlook for Asia’s petrochemicals sector, calling it a bright spot in an uncertain world. ...

AkzoNobel Details Challenges, Benefits of Business in Brazil

Brazil is an important high-growth market for AkzoNobel’s paints and coatings businesses, but there are many obstacles—including talent management—that are not always present in other emerging economies, company officials say. AkzoNobel...

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