Feb. 02, 2012

W.R. Grace Beats Street, Shares Jump

W.R. Grace posted a higher-than-expected fourth-quarter profit on Wednesday as the chemicals maker raised prices on catalysts and construction products, helping lift its stock to an all-time high. The results came after Grace said on Tuesday night its reorganization plan had been approved by a district court, clearing a major hurdle for it to emerge from decade-long bankruptcy protection. moreFeb. 02, 2012

U.S. Accuses China of Instigating Plot against DuPont

Chinese government representatives directed a U.S. businessman to obtain valuable technology manufactured by chemical giant DuPont and U.S. authorities were seeking on Wednesday to keep him in jail ahead of his trial on charges relating to trade secret theft, prosecutors said in newly released court documents. moreFeb. 02, 2012

Exxon Narrowly Beats, But Production Falls Short

Exxon Mobil reported quarterly earnings that narrowly beat expectations, on higher oil prices and asset sales of about $1 billion, but the company's shares dropped nearly 2% as its oil and gas production fell short of estimates. Exxon, the world's largest publicly traded oil company, said fourth-quarter production dropped 9%, which Barclays Capital analyst Paul Cheng found "disappointing" even after accounting for reduced European natural gas sales due to warm weather. moreJan. 30, 2012

ABB to Buy Thomas & Betts for $3.9 Billion in U.S. Push

Swiss engineering group ABB has agreed to buy U.S. electrical components maker Thomas & Betts for $3.9 billion to ramp up its presence in the world's largest market for low-voltage products. moreJan. 30, 2012

Valeant Withdraws Its Bid For ISTA Pharmaceuticals

Valeant Pharmaceuticals International said on Monday it has withdrawn its sweetened takeover bid for ISTA Pharmaceuticals, citing a lack of progress. "We were not interested in participating in a lengthy evaluation process and we are disappointed that the ISTA team was not willing to fully explore our proposal by January 31," said Valeant Chief Executive Michael Pearson in a statement. moreJan. 30, 2012

Saltigo Examines the State of Custom Manufacturing in the New Year

Optimism Springs Eternal - 2011 was a year fraught with uncertainties, and many industries are wearily eyeing the year to come. The state of the worldwide economy as well as the health of the 10-year-old euro has many concerned about what the next months will bring. However, reports from mainstream media seem to differ from the mood within the chemical industry. Here, the outlook is overwhelmingly positive; the sector went through a lot of changes after the crisis that began at the end of 2008, and most in the industry are ready to face any challenges ahead. moreJan. 27, 2012

Eastman Chemical Buys Solutia for $3.38 Billion

Eastman Chemical said it would buy specialty chemical maker Solutia for about $3.38 billion in cash and stock to expand in Asia Pacific. Solutia stockholders would receive $22 in cash and 0.12 shares of Eastman for each share held. The per-share value of $27.65 is a 42% premium to Solutia's Thursday close of $19.51 on the New York Stock Exchange. moreJan. 26, 2012

Stefan Borgas Fired as Lonza CEO

Drugs industry supplier Lonza Group ditched Chief Executive Stefan Borgas after profit last year plunged by a third and warned 2012 would pose further challenges because of a strong franc and problems at pharmaceutical firms. more