20 February 2012 15:00 [Source: ICIS news]
HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 17 February 2012.
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US Reichhold staves off $195m debt for three years
Reichhold Industries would get an additional three years to pay off $195m (€148m) in debt and a two-year interest payment reprieve under an agreement in principle reached with creditors, the US-based thermosetting resins producer said on Friday.
US February PS prices rise 5, 7 cents/lb on feedstock costs
US polystyrene (PS) prices rose by 5 and 7 cents/lb ($110 and $154/tonne, €85 and €119/tonne) for February, as producers were able to fully implement price increases based on higher feedstock costs, sources said on Thursday.
US Huntsman Q4 net income more than triples to $105m
Huntsman more than tripled its net income in the fourth quarter of 2011 compared with the same period in 2010, to $105m (€80.9m) from $30m, despite lower demand trends and earnings pressure from foreign currency movements, the US-based chemicals company said on Thursday.
Chemical M&A market to slow down after busy 2011 – US banker
The global chemical mergers and acquisitions (M&A) market is in transition to a slowdown from a strong 2011, when the dollar value of deals hit a record, an investment banker said on Wednesday.
BASF to start 30-day turnaround at Louisiana complex on Wednesday
Germany-based BASF said on Tuesday it is on schedule to begin a 30-day turnaround at its Geismar, Louisiana, complex on Wednesday.
US ethylene margins increase 11% on cheaper ethane prices
US ethylene margins increased by 11% during the previous week as feedstock ethane costs fell to their lowest level since August 2010, the ICIS margins report showed on Monday.
SABIC, Sinopec in talks over $5.3bn methanol complex in Trinidad
SABIC and China’s state-owned refiner Sinopec will formally begin negotiations with Trinidad and Tobago on a proposed $5.3bn (€4.0bn) methanol complex in the Caribbean country, the Saudi Arabian chemicals major said over the weekend
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