Competitors may emulate Celanese's low-cost technique for producing acetic acid by licensing technology from BP or copying plant designs.Acetic acid facilities based in the Middle East could undermine Celanese's advantaged cost position by using lower-cost natural gas found in the region.Celanese's
We attended Dow Chemical's DOW 2009 Investor Day Nov. 12 in New York. At the event, CEO Andrew Liveris revealed the long-anticipated estimate of the earnings power of the "new" Dow Chemical. The firm is targeting $4.00-$4.50 in earnings per share by 2012, estimates that its normalized earnings will
Ashland's ASH fourth-quarter results were bolstered by strong performances from the Valvoline and water technology segments. Valvoline continued to generate lofty margins relative to historical levels. Fourth-quarter operating income from this segment increased fivefold on a year-over-year basis,
Eastman Chemical EMN posted strong third-quarter results as cost-cutting measures assisted solid performances in its CASPI and fibers segments. Quarterly operating income expanded 9.7% year over year on a sales base that was 26% smaller than in the prior-year period, making for a 450-basis-point
Industrial gas supplier Air Products APD reported impressive fourth-quarter results Wednesday that easily topped our reduced expectations. Our positive thoughts on the industrial gas industry remain unchanged; however, we plan to revisit our near-term assumptions and may increase our fair value
DuPont DD benefited from a combination of lower raw material prices, cost cutting, and a sequential rebound in volumes in the third quarter. While volume improvement and setting sharply lower breakeven sales levels are encouraging developments, we think that fading price momentum and a rebound in