Key Developments: Mexichem SAB de CV (MEXCHEM.MX)

MEXCHEM.MX on Mexico Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Mexichem SAB de CV gives FY 2015 EBITDA guidance - Conference Call
Thursday, 26 Feb 2015 11:00am EST 

Mexichem SAB de CV:Expect to achieve double-digit growth in EBITDA in FY 2015.Excluding the impacts of PMV in Venezuela and restructuring charges.  Full Article

Mexichem SAB de CV appeals U.S. International Trade Commission Ruling
Tuesday, 20 Jan 2015 08:57am EST 

Mexichem SAB de CV:Says that on Jan. 06, one of its subsidiaries, Mexichem Fluor, appealed the U.S. International Trade Commission (ITC) ruling that the import of Chinese refrigerant gas does not harm U.S. industry.Appealed ruling stated that the import of refrigerant gases from China, specifically R-134a, HFC-134a and 1,1,1,2 -Tetrafluorethane, did not result in material injury or threat of material injury to the U.S. refrigerant gas industry.Ruling was issued with two votes in the affirmative, and four in the negative.Decision of no injury or threat of injury resulted in the elimination of dumping duties of 280.67 pct and countervailing duties averaging 11.14 pct found by the Department of Commerce.Mexichem expects the appeal before the United States Court of International Trade to take approximately one year.  Full Article

Mexichem SAB de CV announces dividend payment schedule for 2015
Tuesday, 20 Jan 2015 08:55am EST 

Mexichem SAB de CV:Says cash dividend of fifty Mexican cents per share outstanding was declared, based on the financial statements as of Dec. 31, 2014.This dividend will be paid in four quarterly installments of MXN 0.125 per share in each installment, excluding those shares held by the Company through the share buyback program as of the record date of each installment, according to the following payment dates.Payment Date in 2015 are Feb. 27, May 27, Aug. 27 and Nov. 27.  Full Article

Mexichem SAB de CV's unit buys distribution and sale license for pharmaceutical grade HFC-227ea/P medical propellant
Monday, 5 Jan 2015 07:00pm EST 

Mexichem SAB de CV:Says that on Dec. 31, 2014, its Mexichem Limited UK Ltd unit, division of Mexichem’s Fluor Chain, acquired from E.I. Du Pont de Nemours and company distribution and sale license for pharmaceutical grade HFC-227ea/P medical propellant.Purchase price was $4.1 million.Product is used to safely deliver variety of drugs and medications in aerosol form, including use in metered-dose inhalers for treatment of asthma.Under terms of acquisition, Mexichem has acquired exclusive global rights to sell and distribute product for regulated medical and pharmaceutical propellant market, which will be sold under Mexichem’s ZEPHEX brand.  Full Article

Mexichem SAB de CV completes acquisition of VESTOLIT
Monday, 1 Dec 2014 07:22pm EST 

Mexichem SAB de CV:Says that it has completed the acquisition of VESTOLIT GmbH.Mexichem completed the acquisition after receiving all relevant regulatory approvals.VESTOLIT was acquired from funds managed by Strategic Value Partners LLC for a total purchase price of 219 million euros in cash and assumed liabilities.  Full Article

Mexichem SAB de CV Fitch rating maintained
Tuesday, 11 Nov 2014 03:52pm EST 

Mexichem SAB de CV:Fitch Ratings has affirmed its Issuer Default Rating (IDR) in national and foreign currency at BBB, national long-term credit rating at AA+(mex).Outlook stable.  Full Article

Mexichem SAB de CV gives Q4 2014 EBITDA guidance- Conference Call
Tuesday, 28 Oct 2014 11:00am EDT 

Mexichem SAB de CV:Expects Q4 2014 to report double digit EBITDA growth compared to Q4 2013.Reported EBITDA of 2.226 billion mexican pesos in Q4 2013.Q4 2014 EBITDA of 3.143 billion mexican pesos - Thomson Reuters I/B/E/S.  Full Article

Mexichem SAB de CV announces issues $750 million bond
Wednesday, 10 Sep 2014 07:07pm EDT 

Mexichem SAB de CV:Says that it placed a 144A / Reg S $750 million thirty year bond.Says the offering priced at a spread of 270 basis points over 30-year US Treasury Bills, reflecting the market's confidence in the company's strategy, future prospects and disciplined financial management.Says the offering, which is payable at maturity, was several times oversubscribed, with more than 150 participating investors.Says the proceeds of the deal will be used for purposes including refinancing of short term debt, the funding of recent acquisitions and general corporate purposes.  Full Article

S&P affirms Mexichem SA de CV's credit ratings
Tuesday, 26 Aug 2014 07:23pm EDT 

Mexichem SAB de CV:Standard & Poor's Ratings Services has affirmed its long-term credit rating on company on global scale at BBB-, long-term credit rating on national scale -CaVal- at mxAA and short-term credit rating at mxA-1+.Outlook stable.  Full Article

Moody's upgrades Mexichem SAB de CV's rating on global scale
Monday, 25 Aug 2014 09:48am EDT 

Mexichem SAB de CV:Moody's has upgraded company's rating on global scale to Baa3 from Ba1.Outlook stable.  Full Article

UPDATE 1-Mexichem reports wider 4th-qtr loss on financing costs

MEXICO CITY, Feb 25 - Mexican chemicals and plastic pipe maker Mexichem on Wednesday reported a much larger quarterly loss due to a higher cost of sales and larger financial costs and gave a cautious outlook for the year.

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