This Week on CW: Indorama Ventures, a Thai chemicals concern, has announced plans to buy Old World Industries’ chemicals assets for $795 million. Old World operates the largest ethylene oxide/ethylene glycol plant in the U.S. The plant is in Clear Lake...
International Flavors & Fragrances (IFF) fourth-quarter 2011 earnings fell 56% year-on-year, to $24.4 million, or 30 cts/share. The decline was due to a 44 cts/share charge related to a patent litigation settlement. Adjusted earnings, which exclude the...
Standard & Poor’s (S&P; New York) has raised Rockwood Holdings’ corporate credit rating to ‘BB+’ from ‘BB’ due to an improvement in the company’s leverage position and financial performance. Rockwood is...
Agrium today reported fourth-quarter net earnings of $193 million, or $1.20/share, up 43% from the year-ago period. Excluding a $134 million loss from discontinued operations, fourth-quarter earnings totaled $327 million, or $2.04/share. Discontinued...
Fourth-quarter earnings for Sensient Technologies rose 11% year-on-year, to $28.6 million, or 57 cts/share. Earnings narrowly beat analysts’ consensus of 56 cts/share, as reported by Thomson Reuters (New York). Revenues rose 0.3% year-on-year...
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...
MACROECONOMIC STATUS Our running tab remained steady at 17 out of 20 this week. Thus, we continue to post a green banner. Non-Farm Payroll Employment up by 243,000 Unemployment Rate down 0.2 percentage points to 8.3% Consumer Confidence down 3.7 points to...
Molibdenos y Metales S.A. (Molymet; Santiago, Chile) has purchased a 12.5 million-share stake in Molycorp (Greenwood Village, CO) worth $390 million, Molycorp says. Molymet is the world’s largest processor of molybdenum and rhenium, both of which are...
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...
Cytec’s fourth-quarter earnings fell 15.4%, to $41.6 million, or 88 cts/share, on sales up 4.4%, to $731 million. However, adjusted earnings of 86 cts/share far outpaced analyst estimates of 47 cts/share, as reported by Thomson Reuters (New York). The...
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