IHS Chemical Week

People & Business :: Earnings/Finance

Air Products to exit DNT business, takes solar charge

10:37 AM MDT | October 19, 2012 | Robert Westervelt

Air Products said on its quarterly-earnings call today that it plans to exit the polyurethane intermediates business. The company produces dinitrotoluene (DNT) at its Pasadena, TX, site, which is converted to toluene diamine (TDA). Most of the company’s TDA is sold under long-term contracts with raw material cost and currency pass-through to a small number of customers, according to the company’s annual report. Air Products says it will shut the Pasadena plant and sell the related contracts and assets. The company says it took a $35-million charge...

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