5-minute Newswatch

05 February 2007 08:00  [Source: ICB Americas]

Hercules posts 82%gain in quarter

Hercules reported $34.8m in net income from ongoing operations for the fourth quarter, up 82% per share from $19m in the year-ago period. Q4 net sales were $493.9m, up 14% from the year earlier, excluding the impact of the sale of the company's interest in FiberVisions.

Hexion buys orica

Hexion Specialty chemicals has completed its adhesives and resins purchase from Orica Limited. The purchase was not disclosed, but 2005 sales were $104m. The transaction includes three plants in Australia and New Zealand.

Chemtura settles suit

Chemtura has made a $21m settlement regarding a federal class-action price-fixing suit involving ethylene propylene diene monomer (EPDM), a synthetic rubber. The amount, still to be approved by the court, would be paid in the first quarter and reflected in Q4 2006 financial results.

Pioneer expands

Pioneer is expanding its St. Gabriel, La., chloralkali plant by approximately 25%, from its current capacity of 197,000 ECUs. The $142m project includes converting the plant from mercury cell technology to membrane cell technology. The project is expected to begin this quarter, and be finished in the final quarter of 2008.

ExxonMobil Chemical earnings see big rise

Chemical earnings from ExxonMobil rose by $407m, or 49%, to $1.242bn in Q4 2006. Prime chemical product sales of 6,827 kilotonnes were up 535 kilotonnes from the year earlier period. The company attributed the results both to improved margins and higher volumes.

Celanese completes Acetates purchase

Celanese has completed the $110m acquisition of the cellulose acetate flake, tow and film business of Acetate Products. The transaction excludes limited business in Bulgaria as regulatory review continues. Celanese announced its plan to buy the business last August.

Degussa divests Antioxidants

Degusssa is selling its antioxidant activities to a subsidiary of the Starnber holding company ARQUES Industries. The transaction includes the sale of the Spanish head office in Barcelona, and the antioxidants business of British firm Degussa Knottingley. The sale is still subject to approval by government authorities, but should be finalized this quarter.

Vinyl is back!

LULY STEPHENS

Canadian firm Contexture Design Workshop has launched protective cases for Apple iPods made of recycled vinyl 45 records. Other materials used are felt padding of 40% recycled fibers, cork and a Plexiglas window, with ports for connections. Contexture points out that "45 is one of a kind. Not your typical mass-produced case: you choose your favorite piece of vinyl and we'll custom build it to fit your iPod." The company added that old media protects your new media as you can purchase the single of your choice to have it thermo-formed into your case.

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