The outlook for the water-soluble polymers market is positive overall, due to their range of end-uses and competitive prices, says Marifaith Hackett, director/specialty chemicals at IHS Markit.
Paints and coatings manufacturers say that the demand reduction from the coronavirus disease 2019 (COVID-19) pandemic will mean subdued business activity for the rest of 2020, with automotive coatings particularly hard hit.
Merck KGaA (Darmstadt, Germany) says organic growth in sales and earnings resulted in a more than doubling year on year (YOY) in net income in the first quarter, to €456 million from €189 million.
IFF today reported first-quarter net income up 14% year on year (YOY), to $124.6 million, on net sales up 4%, to $1.35 billion. Adjusted earnings totaled $1.62/share, ahead of analysts’ consensus estimate of $1.59/share, as reported by Refinitiv (New York, New York).
French building materials group Saint-Gobain (Paris, France), through its subsidiary Schenker-Winkler Holding AG (SWH), has started to dispose of its entire 10.75% stake in the Swiss construction chemicals company Sika (Baar, Switzerland) through a private placement to institutional investors.
Ecolab says it has sold hygiene and food safety solutions provider Holchem Group (Bury, UK) after its acquisition of Holchem in December 2018 was blocked by the UK’s Competition and Markets Authority (CMA; London).
The COVID-19 outbreak has had a varied, but mainly negative, impact on the demand for specialty chemicals. Companies have adopted a range of measures to cope with the crisis and they expect the pressure to intensify in the second quarter.
RPM International said in an earnings call today that the company is seeing spotty order patterns and demand as the coronavirus disease 2019 (COVID-19) pandemic disrupts operations and economic conditions.
Ecolab today confirmed that it expects first-quarter adjusted earnings to total $1.05–1.13/share, up 2–10% year on year (YOY) from $1.03/share in the year-ago quarter. The figure includes a negative impact of 5 cents/share from coronavirus disease 2019 (COVID-19).
Givaudan (Vernier, Switzerland), a leading flavors and fragrances company, has announced first-quarter sales of 1.62 billion Swiss francs ($1.67 billion), a 6.1% year-on-year (YOY) increase.
Novozymes says its overall organic growth for the first quarter was 10% with a preliminary EBIT margin of 29%. The company’s three largest business areas—household care, food and beverages, and bioenergy—each grew 11%.
The Society of Chemical Manufacturers and Affiliates (SOCMA) on Friday sent a letter to the White House and state governors reinforcing that specialty chemical manufacturers play a critical role in providing essential products to fight the coronavirus disease 2019 (COVID-19) pandemic.
Leading Europe-based companies are taking measures to protect their employees from coronavirus disease 2019 (COVID-19). In Italy, the worst-affected European country, the government on Monday extended its emergency COVID-19 measures, which include travel restrictions and a ban on public gatherings, from northern Italy to include the entire country.
Wacker Chemie (Munich, Germany) today confirmed its 2019 full-year results, including a net loss of €630 million ($700 million), the largest in the company’s history, on a polysilicon impairment charge of €760 million.
The American Chemistry Council (ACC) reports that specialty chemical market volumes in the US declined 11.3% sequentially in April, following a 4.0% decline in March.