CONSULTING

Chemical Finance Digest, Jan. 30-Feb. 3

3:57 PM MST | February 6, 2012 | Vincent Valk

Topping the headlines last week, Dow Chemical swung to a $20 million fourth-quarter loss on a tax charge. Excluding the charge, earnings totaled $289 million, or 25 cts/share. Earnings fell short of analysts’ estimates of 30 cts/share, and were also...

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Moody’s: Chemical Industry Set for Modest Growth; Europe a Risk

Moody’s Investors Service (New York) says that the global chemical industry will experience a “modestly better year in 2012,” largely due to lower raw materials prices, according to a new report. The biggest threat to the industry’s...

Chemical Finance Digest, Jan. 23-27

Topping the headlines last week, Eastman Chemical will acquire Solutia for $4.7 billion in cash and stock, including assumed debt. The $27.65/share deal values Solutia at a 42% premium over its closing price on January 26. Eastman expects to issue $3.5...

Chemical Finance Digest, Jan. 16-20

Topping the headlines last week, early fourth-quarter earnings showed steady growth despite some weakness in volumes. PPG’s net income rose 5%, to $216 million, on modest sales growth, while H.B. Fuller’s rose 20.5%, to $26.4 million. PPG beat...

S&P: Chemical Company Credit on Solid Ground Despite Risks

Credit ratings agency Standard & Poor’s (S&P; New York) says that North American chemical company credit ratings are on solid ground due to good pricing power, high operating margins, strong cash balances and debt refinancing. The stable outlook...

Chemical Finance Digest, Jan. 2-6

Topping the headlines last week, early earnings mostly looked good. Monsanto’s net income rose 140% on growth in seed sales in Latin America. A. Schulman’s net income was up 48% on higher selling prices, while RPM’s rose 2.3% due to higher...

Deutsche Bank: U.S. Chemicals Sector to Post Modest Growth in 2012

Deutsche Bank (New York) expects the U.S. chemicals sector to post moderately positive volume growth, totaling 4.5% year-on-year, in 2012, according to a new report. Exports to emerging markets such as Asia and Latin America are forecast to offset a likely...

Chemical Industry Weekly News Round-Up, Dec. 23

This Week on CW: H.B. Fuller has acquired Forbo Group’s industrial adhesives business for $394 million, in a deal that will enhance Fuller’s exposure to China and create one of the world’s largest industrial adhesives concerns. The...

Chemical Finance Digest, Dec. 12-16

Topping the headlines last week, Apollo Management announced plans to acquire Taminco from another private equity firm, CVC Capital Partners. Apollo beat out several other private equity firms for Taminco, which was put on the block in September. CVC bought...

ACC: Global Economy 'Has Reached a Critical State'

“The global economy has reached a critical state,” ACC chief economist Kevin Swift said in the group’s year-end economic outlook for 2011. “A global soft-patch has emerged and has been centered on manufacturing.” The euro crisis...

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