IHS Chemical Week
FINANCIAL

IHS: Brexit presents major challenges for UK economy

June 24, 2016 | Howard Archer, chief European and UK economist, IHS

IHS believes that the vote to leave the European Union is bad news for the UK economy, certainly in the near- and medium-term. Even supporters of the Leave campaign have acknowledged that there will be a near-term hit to the economy from heightened...

ACC: Chemical industry continues to grow despite challenges

June 23, 2016 | Jing Chen

ACC on Thursday released a detailed economic report of the chemistry industry and its contributions to the U.S. and global economies, which concluded that the $797-billion chemical industry continues to expand despite volatile markets. According to the 2016...

Moody's: Macro risks persist despite bond rally

June 15, 2016 | Vincent Valk

Macroeconomic risks to the outlook for the North American chemicals sector persist despite a recent upturn in the bond markets, which has reduced refinancing risk for many companies, according to a new report by credit ratings Moody’s Investors Service...

Ferro retaining banker, sale of company a possibility

May 9, 2016 | Vincent Valk

Ferro says it has retained investment bank Lazard (New York) to advise its board on “exploring strategic alternatives for the company.” A Reuters report on Friday said that Ferro is considering a sale of the company, and such “strategic...

Westlake, Axiall trade barbs in advance of shareholder meeting

May 4, 2016 | Vincent Valk

Westlake Chemical and Axiall today released shareholder letters in efforts to win votes for their competing board slates at Axiall’s 17 June annual meeting. Westlake is seeking to replace Axiall’s board with one more friendly to its $23.35/share...

Uralkali signs largest syndicated loan in its history

May 3, 2016 | Francinia Protti-Alvarez

Potash producer Uralkali (Berezniki, Russia) has agreed with 16 international banks for a five-year, $1.2-billion loan, the company has announced. The deal is "the largest syndicated loan in [the company's] history," says Anton Vishanenko, CFO...

Clariant places €300 million in certificates of indebtedness in German market

April 26, 2016 | Francinia Protti-Alvarez

Clariant has placed a quad-tranche Schuldschein, or certificate of indebtedness, comprising three fixed-rate and one floating-rate notes and totaling €300 million ($337.5 million), the company announced Tuesday. The issuance, made in the German market...

M&A: Forward or backward?

April 18, 2016 | —Vincent Valk

Four historic $10-billion-plus megadeals­­­­­—most notably Dow-DuPont, but also Air Liquide-Airgas, ChemChina-Syngenta, and Sherwin-Williams-Valspar—have been announced in the past six months. With big shifts in the industry’s competitive landscape, we take a look back at some big deals of the past and consider the promises and pitfalls of deal-making....

Arsenal closes HSM acquisition

April 18, 2016 | Vincent Valk

Private equity firm Arsenal Capital (New York) today announced it has completed the acquisition of the polyurethane foam assets of Hickory Springs Manufacturing (HSM), for an undisclosed sum. The HSM assets will become part of Elite Comfort Solutions (ECS), a...

Arsenal acquires another polyurethane foams firm

April 14, 2016 | Vincent Valk

Arsenal Capital today announced it is buying a majority stake in Peterson Chemical Technology (Fort Smith, AR), a polyurethane foams maker that uses additives and specialty polyols to develop new products and applications. Financial details of the deal...

Quarterly results analysis: Specialties revenue holds up, basics decline

March 30, 2016 | Vincent Valk

Quarterly revenues at specialty chemical firms increased during the fourth quarter of 2015 in contrast to declines at basic and diversified chemical producers, according to CW analysis. On average, fourth-quarter revenues for specialty chemical makers rose...

Moody's: Covenants weak in chemical sector high-yield bonds

March 28, 2016 | Vincent Valk

Investor protection covenants are relatively weak in high-yield bonds issued by chemical companies, according to a report by Moody's Investors Service (New York), a credit ratings agency. The average covenant strength of chemical sector high-yield bonds is...

Trinseo secondary share offering launches

March 24, 2016 | Vincent Valk

A secondary public offering of Trinseo shares by Bain Capital launched today, pricing the company at $36.25/share. After the offering, which was announced on Monday, is complete, Bain’s stake in Trinseo will be reduced to 56.5%, from 76.4%. Bain expects...

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