Chemicals - Diversified

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DCM Shriram divests 50 pct of its subsidiary

Wednesday, 16 Apr 2014 08:54am EDT

DCM Shriram Ltd:Axiall LLc invested 346.5 mln Indian rupees to acquire 50 pct stake in Shriram Vinyl Polytech (p) Ltd (SVPPL), 100 pct subsidiary of DCM Shriram.Says SVPPL is now 50 -50 joint venture of Axiall and DCM Shriram.

Kasbah Resources Ltd signs shareholders agreement with Toyota Tsusho Corp and Nittetsu Mining Co Ltd for development of Achmmach

Monday, 14 Apr 2014 09:27pm EDT

Kasbah Resources Ltd:Signs shareholders agreement with Toyota Tsusho Corp (TTC) and Nittetsu Mining Co Ltd (NMC).Shareholders agreement records terms and conditions on which Kasbah, TTC and NMC propose to associate themselves together through Atlas Tin SAS as incorporated joint venture to carry out development and proposed eventual mining of Achmmach Tin Project.Atlas Tin is currently wholly owned subsidiary of Kasbah.Shareholders agreement will not become binding on any party until commencement date.NMC has now satisfied all conditions required to acquire 5 pct. interest in Atlas Tin. NMC will have right to 5 pct. of all production from project at fair market price.TTC's right to acquire 20 pct. interest in Atlas Tin (and right to 20 pct. of production from project at fair market price) remains subject to TTC making final payment under their MoU before June 30.On completion of final payment by TTC it is expected that Atlas Tin will become a 75 pct. Kasbah, 20 pct. TTC and 5 pct. NMC owned entity managed by Kasbah Resources Ltd.

Brenntag AG extends 1.6 billion euro loan

Monday, 31 Mar 2014 07:15am EDT

Brenntag AG:Amends 1.6 billion euro-equivalent syndicated loan, extending maturity and reducing pricing while increasing amount of deal.Financing has been extended to March 2019 from July 2016 previously, while Brenntag expects to save more than 6 million euros in interest year thanks to cut in margins.Says revolving credit facility has also been increased by 100 million euros to 600 million euros after deal received closed oversubscribed by syndicate of 22 banks from Brenntag's existing group of banks.Bookrunners and mandated lead arrangers on transaction were BNP Paribas, Commerzbank, HSBC Trinkaus & Burkhardt, Helaba, Royal Bank of Scotland and UniCredit Bank.Mandated lead arrangers are Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole CIB, Deutsche Bank, ING Bank, Mizuho Corporate Bank and SEB.Lead arrangers are ANZ Banking Group, Banco Santander, BayernLB, DZ Bank, Danske Bank, Fifth Third Bank, Goldman Sachs, HSH Nordbank and Scotiabank.

Shandong Hualu Hengsheng Chemical Co Ltd announces FY 2013 dividend payment

Thursday, 27 Mar 2014 08:00pm EDT

Shandong Hualu Hengsheng Chemical Co Ltd:To pay cash dividend of 0.8 yuan per 10 shares (before tax) to shareholders for the fiscal year 2013.

Hansa Group AG concludes an agreement to reduce the financial liabilities

Wednesday, 26 Mar 2014 04:42am EDT

Hansa Group AG:Signed an agreement with its financing banks which sets a binding frame for the operational and financial restructuring, following the signing of the announced restructuring framework and loan agreements with one of its main shareholders, financing banks and central financing partners.The agreement stipulates a reduction of the financial liabilities owed to financing banks and central financing partners from 109 million euros (as of Sep. 30, 2013) to approximately 46 million euros by late summer 2014.This results in a reduction of financial burdens of the remaining yearly redemption payments.The remaining obligations have a lifetime of up to 10 years and thus allow for a long-term and stable financial framework.Next to this debt relief it is intended to strengthen the company's equity by way of capital increases in an amount of maximum 48 million euros.

Ecogreen Fine Chemicals Group Ltd proposes final dividend

Tuesday, 25 Mar 2014 06:10pm EDT

Ecogreen Fine Chemicals Group Ltd:Proposes final dividend of HK$7.1 cents (2012: HK$4.1 cents) per ordinary share for FY 2013.With the interim dividend of HK$1.49 cents (2012: HK$1 cents) per share the total dividend for FY 2013 amounted to HK$8.59 cents (2012: HK$5.1 cents) per share.Proposed final dividend to be paid on or around Jul 11.

Daito Chemix lowers full-year consolidated outlook and expects extraordinary profit and loss for FY 2014

Tuesday, 25 Mar 2014 03:00am EDT

Daito Chemix Corp:Full-year consolidated outlook for revenue of 8,600 mln yen lowered from 9,800 mln yen, for fiscal year ending March 31, 2014.Full-year operating profit outlook of 180 mln yen lowered from 250 mln yen.Full-year ordinary profit outlook of 220 mln yen raised from 200 mln yen.Full-year net profit outlook of 210 mln yen raised from 200 mln yen.Full-year earnings per share outlook of 19.54 yen raised from 18.60 yen.Revenue and operating profit outlook lowered due to sluggish photosensitive material and printing material businesses as well as low operation ration of environmental related business.Sees extraordinary profit of 51 mln yen for gain on sale of investment securities, and extraordinary loss of 87 mln yen for impairment loss on fixed assets, for the same fiscal year.

Kemira names Jari Paasikivi new Chairman; announces FY 2013 dividend details

Monday, 24 Mar 2014 09:30am EDT

Kemira Oyj:Announces Jari Paasikivi new Chairman of the Board.Adopts the proposed FY 2013 dividend of 0.53 euro per share.Record date March 27.Dividend payment date April 3.


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