Americas top stories - weekly summary

30 January 2012 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 27 January 2012.

(Please click on the link to read the full text.)

US Eastman targets growth and earnings in $4.7bn Solutia bid
US headquartered Eastman Chemical has bid to acquire speciality chemicals firm Solutia in a $27.65/share cash and stock offer valued at $4.7bn (€3.6bn), the companies said on Friday.

US Sherwin-Williams Q4 net income falls 80% on tax settlement
Sherwin-Williams' 2011 fourth-quarter net income fell by 80% year on year to $14.6m (€11.1m), mainly because of a $75m tax settlement, the US-based paint firm said on Thursday.

ConocoPhillips Q4 chem earnings rise 32.2% on start-up of new projects
ConocoPhillips reported a 32.2% year-on-year increase in its 2011 fourth-quarter chemical earnings to $156m (€120m), from $118m in the 2010 fourth quarter, it said on Wednesday.

US DuPont's Q4 net income flat, despite steep volume decline
DuPont’s fourth-quarter 2011 net income stood at $373m (€287.2m), compared with the $376m reported for the same quarter of the previous year, as selling prices offset lower volumes and increased costs and spending, the US-headquartered chemicals major said on Tuesday.

US ethylene margins up 5% on lower ethane prices
US ethylene margins rose by 5% in the third week of January after a drop in ethane prices outweighed a small reduction in ethylene spot prices, the ICIS margin report showed on Monday.

US to become less dependent on energy imports - DOE
Increasing growth in domestic oil and natural gas production along with energy efficiency gains and slower economic growth will make the US less dependent on energy imports over the next two decades, the Energy Department said on Monday.


By: Staff Reporter
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