IHS Chemical Week
FINANCIAL

Moody's: Removal of cap on Swiss franc will hurt Switzerland-based chemical firms' earnings

1:57 PM MST | January 26, 2015 | Ian Young

The Swiss National Bank’s (Bern) recent decision to remove the peg between the Swiss franc and the euro—resulting in a rapid strengthening in the Swiss currency’s value—will put downward pressure on Switzerland-based companies'...


Risk Free Trial

Email Address

First Name

Last Name

Click here to register and get your RISK-FREE access to chemweek.com
MORE FINANCIAL

Praxair to shift exchange rate for Venezuela operations

Praxair says it is changing its exchange rate to line up with the Sicad II rate of 50 bolivars to the dollar rather than government's official exchange rate of 6.3 bolivars to the dollar. Sicad II is a currency trading system set up by the Venezuelan...

Second Quinpario firm prices IPO

Quinpario Acquisition Corp. 2 has priced its initial public offering at $10/share, with the company hoping to raise $350.0 million from the offering. Quinpario is a blank-check firm “formed for the purpose of acquiring or merging with one or more...

Koppers completes tax reorganization, delays plant construction

Koppers today announced it has completed a legal reorganization of its foreign subsidiaries, allowing it to repatriate cash at a lower effective tax rate. The company estimates cash tax savings of about $8.0 million/year from the reorganization, cutting its...

Trian nominates four DuPont directors, sharpens call for break-up

Hedge fund Trian Fund Management (New York) on Friday continued its campaign against DuPont management by nominating four directors to the company’s board. The four are Trian CEO and founder Nelson Peltz; John Myers, CEO of GE Asset Management; Arthur...

Equity analyst—oil price decline is good for the chemical industry

The chemical industry will, on the whole, benefit in 2015 from lower oil prices, says a leading equity analyst. “We argue that the current fall in oil prices is primarily due to oversupply rather than weak demand,” says Jeremy Redenius, senior...

Hedge fund FrontFour releases letter criticizing OM Group

Hedge fund FrontFour Capital (Greenwich, CT) today released a letter criticizing the management of OM Group, accusing the company of generating a poor return on capital, and on acquisitions. The letter also criticized the company’s capital structure...

MeadWestvaco to spin off specialty chemicals business

MeadWestvaco (MWV) says it plans a tax-free spin-off of its specialty chemicals business, a maker of pine chemical derivatives for printing inks, adhesives, and asphalt paving, among other sectors. The chemicals business also makes activated carbon products...

A. Schulman beats estimates on higher sales

A. Schulman today reported fiscal first-quarter net income from continuing operations up 6.5% year-on-year (YOY), to $13.2 million, on sales up 5%, to $615.1 million. Adjusted earnings rose 10.5% YOY, to $18.5 million, or 63 cts/share, beating analysts’...

DuPont files for performance chemicals spinoff

DuPont today filed with the US Securities and Exchange Commission (SEC; Washington) to launch a spinoff of its mostly-commodity performance chemicals business, over a year after the company announced the planned spin-off. The company will be called The...

Financial Archives »











 
contact us | about us | customer care | privacy policy | sitemap | advertise

ihsCopyright © 2014 IHS, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.

North Asia Russia Southeast Asia China India/Pakistan Middle East Eastern Europe Western Europe Central America Canada USA Australia/New Zealand South America Africa