Materials and Metals Chemicals

  • JERUSALEM, Aug 10- Israel Chemicals, one of the three major suppliers of potash to China, India and Europe, reported a better than expected second-quarter profit on Wednesday and predicted further gains from its specialty products units. Israel's biggest chemicals producer earned 10 cents per diluted share, excluding one-off items, down from 13 cents per...

  • MUMBAI, Aug 10- India's Tata Chemicals, the Tata group's flagship chemical and fertilisers company, is selling its urea business to Norway's Yara International to focus on other fertilisers and consumer products like pulses and spices. We are trying to scale the consumer business and that is the company's broad strategy, "Tata Chemicals' Managing Director...

  • *SECCO is BP's single largest investment in China. FRANKFURT/ HONG KONG, Aug 9- British oil major BP is seeking buyers for its 50 percent stake in Chinese petrochemicals joint venture SECCO, its largest investment in China, in a deal sources said could fetch $2- $3 billion. A successful deal would mark BP's first significant exit from a business in China.

  • FRANKFURT/ HONG KONG, Aug 9- British oil major BP is seeking buyers for its 50 percent stake in a Chinese petrochemicals joint venture, its single largest investment in China, in a deal that would fetch $2- $3 billion, people familiar with the matter told Reuters. A successful deal would mark BP's first significant exit from a business in China. Situated in Caojing...

  • Illinois- based CF Industries' second-quarter profit fell 87 percent, more than expected, and the company warned after markets closed on Wednesday that prices would remain weak into next year. The world's third-biggest nitrogen fertilizer producer is finishing expansions of ammonia and urea plants in Louisiana and Iowa this year, giving it capacity of 18.9...

  • Aug 3- Two of North America's biggest fertilizer companies reported large drops in quarterly profit on Wednesday, and warned of tough times ahead as abundant supplies weighed on prices. Nitrogen prices have been pressured by China's growing exports of urea and new capacity coming on stream in North America. Net earnings for CF's second quarter fell to $47...

  • Nitrogen prices have been pressured by China's growing exports of urea, and new capacity coming on stream in North America. Net earnings for the second quarter fell to $47 million, or 20 cents per share, from $352 million, or $1.49 per share, a year earlier. The Deerfield, Illinois- based company's shares dipped 3 percent after normal trading hours on the New York...

  • Aug 2- Miners that produce a diverse commodity mix may be willing to part with fertilizer assets, creating buying opportunities for producers of potash and phosphate, Mosaic Co Chief Executive Joc O'Rourke said on Tuesday. Profits of fertilizer producers have tumbled because of falling prices, weak currencies in importing countries such as Brazil and...

  • *Q2 adj earnings/shr $0.06 vs est $0.12. "While the environment is challenging, we see signs of stabilization in the second half of the year, with fertilizer prices bottoming and solid demand for our products," Chief Executive Joc O'Rourke said. Profits at fertilizer producers have tumbled due to falling prices, triggered in part by weak currencies in importing...

  • Bayer lost an attempt to continue sales of flubendiamide, marketed in the United States as Belt, after the EPA earlier found that it posed risks to the environment. An EPA board, however, ruled that farmers and retailers will be allowed to use their existing supplies of the chemical, Bayer said in a statement. The EPA could not be reached for comment after normal...

  • SAO PAULO, July 28- Brazil's state-run oil company Petroleo Brasileiro SA said in a statement on Thursday it is in exclusive talks for 60 days with Mexico's Alpek over the potential sale of PetroquimicaSuape and Citepe assets in Brazil's northeast. Mexico's Alpek is the petrochemicals unit of Mexican conglomerate Alfa. Petrobras, as Brazil's state oil...

  • Potash will cut its quarterly dividend to 10 cents per share from 25 cents. Its shares were down 7 percent in New York and Toronto, and the U.S.-listed stock touched a low of $15.84. Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold its Potash position in June.

  • The company said on Thursday that it had realized $90 million of its full-year cost savings target of $300 million in the second quarter. The merger is being scrutinized by regulators in the United States and Europe, and the companies have offered concessions in a bid to allay EU antitrust concerns. "No discussion we have had with the European Commission takes us...

  • Potash plans to cut its quarterly dividend to 10 cents per share from 25 cents. Its shares fell 4.7 percent in New York and Toronto, and the U.S.-listed stock touched a two-week low of $16.32, down 40 percent in the past 12 months. Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold...

  • Dow Chemical shows strong performance in plastics: CEO

    Andrew Liveris, Dow Chemical chairman & CEO, discusses the company's quarterly beat and strong performance in plastics. Also Liveris talks about the expected merger with DuPont.

  • ISTANBUL, July 28- Turkey's biggest petrochemicals company Petkim said on Thursday its chief executive had resigned, and the state-run news agency said he had been detained in connection with a failed coup. Petkim, owned by Azerbaijan's Socar, said in a stock-exchange filing that Anar Mammadov has become CEO after his predecessor, Saadettin Korkut, resigned.

  • Bayer profits rise 5.7% in second quarter

    John Rountree, managing partner of Novasecta, discusses earnings at Bayer and the company's progress in acquiring Monsanto.

  • TOKYO, July 26- Takeda Pharmaceutical Co Ltd will accept initial bids for its 70 percent stake in a chemicals company through Aug. 16, with potential suitors including CVC Capital Partners Ltd and Carlyle Group Ltd, sources told Reuters. Takeda, Japan's largest drugmaker by market value, aims to sell its holding in Wako Pure Chemicals Industries Ltd to streamline...

  • *Plan to locate in Texas or Louisiana. DUBAI/ KHOBAR, July 25- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups, said on Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. The project will be on the United States' Gulf Coast, possibly in Texas or Louisiana, and will include a production...

  • *Monsanto says Bayer's latest bid financially inadequate. *Says open to continuing talks with Bayer, other parties. July 19- U.S. seed company Monsanto Co turned down a sweetened $64 billion acquisition offer from Bayer AG, but said it was open to further talks with the German healthcare and chemicals group as well as other parties.