U.S. Solar Market Sizzles
The total energy output of photovoltaic (PV) solar cells sold around the world in 2007 increased 51% to 3,733 megawatts (Mw) according to independent research group the Worldwatch Institute (Washington, DC) in conjunction with solar energy research group... MTI Implements GCC Surcharge
Minerals Technologies Inc. (MTI) says its Performance Minerals business has implemented an energy surcharge on all calcium carbonate and dolomite product orders used... Huntsman's Earnings Slide on Expenses
Huntsman reported net income for the first quarter of $7.3 million, down 84% compared to the year-ago quarter, on sales up 13%, to $2.54 billion. Adjusted net income from continuing operations fell 71%, to $16.9 million (7 cts/share). Adjusted Ebitda from... Solutia’s Earnings Fall on Higher Taxes and Costs
Solutia’s first-quarter net income excluding special items fell 73%, to $4 million, on pro-forma sales up 14%, to $985 million. Sales now include Flexsys following Solutia’s acquisition of the 50% stake it did not already own in the former joint... Croda to Sell U.S. Oleochemicals Business to Private Equity Firm
Croda International (Goole, U.K.) says it has agreed to sell its U.S. oleochemicals business (Chicago) to private equity firm HIG Capital (Miami) for £46.7 million ($91.5 million). The... More Stories » CANADA Agrium's Earnings Rise on Strong Ag Fundamentals
Agrium reported first-quarter net income of $195 million ($1.23/share) compared to an $11-million loss. Sales jumped 35%, to $1.2 billion. “Excellent fundamentals in the... Air Products Starts Up H2 Plant
Air Products says it has started up a second hydrogen (H2) plant at Edmonton, AB to supply the nearby... PotashCorp’s First-Quarter Income Soars; Raises Outlook
PotashCorp’s first quarter net income soared 186%, to $566 million ($1.74/share), on sales up 64%, to $1.9 billion. “The pressure to increase global food production drove demand for potash, phosphate and nitrogen and pushed prices for all three nutrients... Axa Private Equity Buys Active Ingredient Business
Health and nutrition product firm Atrium (Quebec City) says it has agreed to sell its active ingredient and specialty chemical division to Axa Private Equity (Paris) for $155 million in cash. The deal is expected to generate total proceeds of more than $165... Mosaic Announces Major Potash Expansions
Mosaic says it will invest $3.15 billion to increase the company’s potash capacity 49%, or 5.1 million tons/year, over the next 12 years. Production will be expanded at the company’s three sites in Saskatchewan, Canada. “We believe the... More Stories » MEXICO Pemex Details Investments in Mexican Complexes
Mexican state oil firm Pemex (Mexico City) says it will spend about $1.5 billion by 2010 to expand its Morelos and Cangrejera, Mexico petrochemical complexes. At Morelos it will invest $800 million to expand a Lummus process ethylene plant and an ethylene... Mexichem Buys Caustic Soda Firm
Mexican polyvinyl chloride (PVC) maker Mexichem (Pajaritos, Mexico) says it has purchased Colombian caustic soda producer Prodesal... Brenntag Buys BASF Site in Mexico
Brenntag says it has acquired a distribution center at Querétaro, Mexico from BASF, which it will use as... Ferro Cuts Jobs in Inorganics; Sells NY Plant
Ferro says it will eliminate approximately 50 jobs in its inorganic specialties business unit, mostly from its Mexico facilities. The move will result in a pre-tax charge of about $1.6 million in the fourth quarter, and may... Alfa Completes PET Acquisition
Grupo Alfa (Moneterrey, Mexico) says it has completed the previously announced acquisitions of Eastman Chemical’s Cosoleacaque, Mexico and Zarate, Argentina... More Stories »
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