Chemicals - Diversified
Alpek SAB de CV Consolidates Its Operations Closing Cape Fear Site
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.
Daito Chemix Corp Completes Liquidation of Subsidiary
Daito Chemix Corp announced that it has completed the liquidation of a subsidiary, DAITO CHEMIX (CHINA) CO., LTD., on May 31, 2013.
Thirumalai Chemicals Ltd Shut Down One Stream Of Phthalic Anhydride (PA) Plant
Thirumalai Chemicals Ltd announced that the Company has shut down one Stream of its Phthalic Anhydride (PA) plant on April 22, 2013, due to large inventories caused by large volumes of Phthalic Anhydride imports into India, from Russia, Japan, Iran, Israel, Korea and Taiwan during the last four months.
Daito Chemix Corp Announces Result of Early-retirement Program
Daito Chemix Corp announced the result of an early retirement program, which was offered during the period from February 18, 2013 to February 28, 2013. 29 of its employees took the offer and will retire on March 15, 2013.
Tata Chemicals Ltd Receives Approval For Scheme Of Amalgamation Of Homefield International Pvt. Ltd
Tata Chemicals Ltd announced that the Board of Directors of the Company at its meeting held on February 08, 2013 approved the Scheme of Amalgamation (the Scheme) of Homefield International Pvt. Ltd (HIPL), (Mauritius) with the Company. HIPL is a wholly owned subsidiary of the Company with its registered office in Mauritius. The Appointed Date of the Scheme is April 01, 2013. Upon the Scheme coming into effect and in terms of the Scheme of amalgamation, all assets and liabilities of HIPL shall will be transferred to and vested in the Company and all shares of HIPL stand cancelled. No shares of the Company will be issued and allotted in lieu or exchange of the Equity Shares of HIPL.
Tessenderlo Chemie NV/SA Announces Reposition of Loos (France) Site; to Cut Jobs at Loos Site
Tessenderlo Chemie NV/SA announced that that it has launched a turnaround project to reposition its Loos (France) site to focus on the production of water treatment chemicals. The project consists of three elements. First of all, the Company will make an investment in a new electrolysis plant for the production of water treatment chemicals. Secondly, the non-competitive production units of pharmaceutical intermediates and of sulfate fertilizers at the Loos site may be closed down. The project also encompasses a multi-year environmental improvement plan to manage the historical soil pollution on the Loos site. Information and consultation procedures with the local Works Council and the Committee for Hygiene, Safety and Working Conditions have commenced. The difficult market conditions and a decline in demand at the two independent production units for pharmaceutical intermediates and sulfate fertilizers at the Loos site may result in a restructuring and could impact up to 39 employees at the Loos site.
Kemira Oyj To Start Co-Determination Negotiations in Finland in Connection with Global Restructuring Program
Kemira Oyj announced that it is to start co-determination negotiations in Finland which will affect all employees working at the Company's following Finnish sites: Helsinki, Espoo, Oulu, Sastamala, Kuusankoski, Joutseno, Vaasa and Harjavalta. At the end of June 2012, the Company had 5,181 employees from which 1,259 were located in Finland. The Company had previously announced that it is to implement global restructuring program to improve the Company's profitability, internal efficiency and to accelerate growth in the emerging markets. The implementation of the measures related to the program may lead to the reduction of up to 600 positions globally, from which approximately 250 could be reductions in Finland.
Kemira Oyj Announces Global Restructuring Program and Possible Lay-offs
Kemira Oyj announced a global restructuring program 'Fit for Growth' to improve the Company's profitability, internal efficiency and to accelerate growth in the emerging markets. The cost savings target with the planned program is EUR 60 million on an annualized basis once the program is fully implemented. The goal of the planned program is to reach Kemira Group's financial targets for revenue growth and EBIT margin. The growth target for Kemira is above 3% in the mature markets and above 7% in the emerging markets. Kemira Oyj's EBIT margin target is at least 10%. The planned group-wide restructuring program is based on: reducing internal complexity by renewing and simplifying the organizational structure in order to foster accelerated growth, innovation and application focus; improving internal efficiency by reducing organizational layers and by placing responsibility into the regions by implementing regional business units reporting to the segment heads with full profit and loss responsibility, as well as optimizing and rebalancing the manufacturing network. The implementation of these measures may lead to a reduction of up to 600 positions globally, from which approximately 250 could be reductions in Finland. Kemira Oyj will initiate the co-determination negotiations according to each country's local legislation. Kemira Oyj will also consolidate its management structure. As of October 1, 2012, there will be one Management Board lead by the Chief Executive Officer.
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| Cyclical Goods & Services | -0.05% |
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| Technology | -0.21% |
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| DOW | 14,927.35 | -47.61 |
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+246.24Analyst Research
| Report Title | Price |
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Provider: Bohai Securities Co.,Ltd.
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$138.00
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Provider: Bohai Securities Co.,Ltd.
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$35.00
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Provider: GlobalData
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$125.00
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Provider: SADIF-Investment Analytics, S.A.
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$25.00
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Provider: Wright Reports
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$35.00
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