Chemicals - Diversified

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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.

Mitsubishi Chemical Holdings Corp to transfer business to subsidiary

Tuesday, 25 Feb 2014 02:00am EST

Mitsubishi Chemical Holdings Corp:To transfer its health care solution business to its Tokyo-based wholly owned subsidiary, which engages in operation management of group companies engaged in health care related business.Transfer to be conducted on April 1.

Hansa Group AG announces updates regarding restructuring and issues financial guidance for 2015

Friday, 31 Jan 2014 12:54pm EST

Hansa Group AG:Announces that it has reached an agreement with all financing banks as well as key financing partners and Hansa Trust International AG's principal shareholders regarding a concept for a sustained financial restructuring of the company.Says settlement reached with the lenders will reduce debt by more than half.Says capital measures in the mid-double-digit million range designed to considerably strengthen the company's equity are also planned and will be borne to a degree by the principal shareholders.Says it expects to generate significantly positive earnings in 2015.

TAOKA CHEMICAL CO LTD completes liquidation of subsidiary and expects extraordinary loss for Q3 of FY 2014

Thursday, 30 Jan 2014 01:00am EST

TAOKA CHEMICAL CO LTD:Says it has completed liquidation of a wholly owned subsidiary, TAOKA (TIANJIN) FINE CHEMICAL CO.,LTD, on Jan. 30.Says it expects 97 million yen extraordinary loss on this for the third quarter of the fiscal year ending Mar. 2014.

Incitec Pivot Ltd Announces Restructuring Plans-Reuters

Monday, 11 Nov 2013 06:07pm EST

Reuters reported that Australia's Incitec Pivot Ltd announced a restructuring plan in the face of these negative factors, aiming to save AUD20 million in annual costs, and expected to deliver AUD12 million of savings in the 2014 fiscal year.

Sumitomo Chemical Co Ltd to Integrate Pesticide Business in US-Nikkei

Monday, 12 Aug 2013 06:47am EDT

Nikkei reported that Sumitomo Chemical Co Ltd will integrate the pesticide business in an United States-based sub-subsidiary to a subsidiary in the United States, McLaughlin Gomley King Company, in September 2013.

Tuticorin Alkali Chemicals And Fertilizers Ltd Announces Closure Of Factory

Tuesday, 16 Jul 2013 07:57am EDT

Tuticorin Alkali Chemicals And Fertilizers Ltd announced that with reference to the earlier announcement dated July 01, 2013 regarding Declaration of Lock Out, Tuticorin Alkali Chemicals & Fertilisers Ltd has informed that the Company have sought the permission of the Government of Tamil Nadu for the closure of the factory situated at Tuticorin. The production facility continues to be shutdown though the lock out was lifted on July 04, 2013.

Kemira Oyj to Explore Strategic Options for ChemSolutions

Monday, 8 Jul 2013 07:00am EDT

Kemira Oyj announced that the Company has retained SEB for a process to review strategic options for its ChemSolutions segment. In Q1 2013, Kemira divested ChemSolutions' food and pharmaceuticals businesses and sold its shares in JV Sachtleben. Kemira continues the re-alignment of its portfolio. Accordingly, a process has been initiated to review the strategic options for ChemSolutions. ChemSolutions is a non-core part of Kemira's business with limited synergies to Kemira's core business.

Alpek SAB de CV Consolidates Its Operations Closing Cape Fear Site

Wednesday, 19 Jun 2013 04:01pm EDT

Alpek SAB de CV (Alpek) announced that it will consolidate its operations in the polyester chain by closing Cape Fear site near Wilmington, North Carolina, the United States. The facility was built in the late 60's and was acquired in 2001 by DAK Americas LLC, a subsidiary of Alpek. The majority of customers of Cape Fear site will be supplied by other Alpek plants. The closing is expected to be completed in September 2013.

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