Americas top stories - weekly summary

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.

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

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

By: Staff Reporter
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