Americas top stories - weekly summary

27 February 2012 15:00  [Source: ICIS news]

Americas top stories - weekly summary

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 24 February 2012.

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

Interview: Conditions ripe for strong chem M&A market – US banker
The chemical mergers and acquisitions (M&A) market is poised to have another strong year in 2012 on the back of favourable conditions for deal activity, an investment banker said on Friday.

Third US March BD nomination comes in at a 23% increase
A third nomination for the March US butadiene (BD) contract was heard on Friday at an increase of 23%.

US acrylates market expects price increase for March
US March acrylic acid and acrylate esters contract price gains are certain in the wake of sharp February feedstock propylene gains, sources said on Thursday.

US Tampa ammonia decreases 15% for March
The contract price of benchmark US Tampa ammonia for all March shipments decreased 15% from February, a source close to the negotiations said on Thursday.

US BD producer nominates 25 cent/lb increase for March contracts
A US producer nominated a 25 cent/lb ($551/tonne, €413/tonne) increase in its March butadiene (BD) contract price, market sources said on Wednesday.

US Westlake may withdraw offer to Georgia Gulf - execs
US chemical producer Westlake said on Tuesday it might withdraw its tender offer of $35/share to acquire Georgia Gulf if it does not receive more positive interaction from the company's board and investors.

Corrected: Westlake’s Q4 net income falls sharply to $26.4m on lower prices
Westlake Chemical’s fourth-quarter net income fell sharply to $26.4m (€20.1m) from $84.1m year on year, primarily as a result of higher feedstock costs, the US polyethylene (PE) and polyvinyl chloride (PVC) producer said on Tuesday. 

By: Staff Reporter
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