IHS Chemical Week

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SI Group to acquire Albemarle's antioxidants and ibuprofen business
SI Group (Schenectady, NY) has agreed to acquire the antioxidant, ibuprofen and propofol businesses of Albemarle for an undisclosed amount of cash. The deal includes manufacturing sites in Organgeburg, SC  and Shanghai, as well as technical support...

Albemarle earnings fall but beat estimates
Albemarle today reported net income down 32.6% year-on-year (YOY), to $56.6 million, or 71 cts/share, on net sales up 2.3%, to $656.7 million. Net income fell primarily due to charges related to pension and retiree benefits, while sales rose mostly on higher...

Lubrizol forms energy and water unit
Lubrizol says it has formed an energy and water business unit to focus on its offerings oilfield, refinery process and industrial water treatment chemicals. The unit is a part of the company’s industrial specialties segment. As a part of the expansion...

Schulman sets double-digit sales and earnings growth targets
A. Schulman has announced that it is aiming to grow sales by 10-11%/year through 2018, to $3.6-$3.7 billion. The company is also aiming to grow adjusted earnings by an average of 19-20%/year through 2018, to $4.50-$4.75/share, and adjusted Ebitda by...

Sensient, FrontFour trade volleys in advance of shareholder meeting
Dissident hedge fund FrontFour Capital (Greenwich, CT) today released a new letter to Sensient shareholders accusing the company of governance shortfalls and of a failure to disclose aspects of the proxy fight to shareholders. The letter notes that Sensient...

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