Company News
July 15, 2020
Chemours To Close Aniline Facility
Chemours to close First Chemical Pascagoula plant by end of the year
PASCAGOULA, Miss. (WLOX) – Chemours has announced that it will close its First Chemical plant in Pascagoula at the end of this year.
A statement released by Monday by Chemours reads:
The First Chemical site in Pascagoula has been a valuable part of Chemours through its manufacturing of aniline, nitrobenzene and NDPA lube antioxidant. As a result of a business review we determined that aniline business is not core to our future strategy and we have made the difficult decision to exit the business and cease production at the site by the end of this year. We value every employee and the customers they serve, and we will support them through this time of transition.
The First Chemical plant, a Chemours company, was established in 1967 as Mississippi’s first chemical company. The plant is located in the Bayou Cassotte Industrial Park in Jackson County.
The Jackson County Economic Development Foundation said they will work closely with Chemours real estate department to redevelop the property. “They will enthusiastically engage with us in redeveloping that property,” said George Freeland, executive director of the foundation.
He also noted that “they have been an extraordinary industrial partner.”
According to Freeland, 74 employees were affected and each will receive a severance package.
The plant is a leading producer of aniline intermediates and derivatives as well as nitrobenzene. These chemicals are the key ingredients in many everyday items, including pharmaceuticals, automotive parts, tires, dyes, photochemicals, agricultural chemicals, and building materials.
The First Chemical Corporation has four independent operating units in the contiguous facility. The four units include: the Port Facility Unit (Aniline Production), the Nitration #1 Unit, Nitration #2 Unit, and the Hydrogenation Units #1 and #2.
In 2009, the plant was ordered to pay $731,000 in civil penalties to the federal government after an explosion in 2002 that left two people injured.
https://www.wlox.com/2020/07/06/chemours-close-first-chemical-pascagoula-plant/
July 15, 2020
Chemours To Close Aniline Facility
Chemours to close First Chemical Pascagoula plant by end of the year
PASCAGOULA, Miss. (WLOX) – Chemours has announced that it will close its First Chemical plant in Pascagoula at the end of this year.
A statement released by Monday by Chemours reads:
The First Chemical site in Pascagoula has been a valuable part of Chemours through its manufacturing of aniline, nitrobenzene and NDPA lube antioxidant. As a result of a business review we determined that aniline business is not core to our future strategy and we have made the difficult decision to exit the business and cease production at the site by the end of this year. We value every employee and the customers they serve, and we will support them through this time of transition.
The First Chemical plant, a Chemours company, was established in 1967 as Mississippi’s first chemical company. The plant is located in the Bayou Cassotte Industrial Park in Jackson County.
The Jackson County Economic Development Foundation said they will work closely with Chemours real estate department to redevelop the property. “They will enthusiastically engage with us in redeveloping that property,” said George Freeland, executive director of the foundation.
He also noted that “they have been an extraordinary industrial partner.”
According to Freeland, 74 employees were affected and each will receive a severance package.
The plant is a leading producer of aniline intermediates and derivatives as well as nitrobenzene. These chemicals are the key ingredients in many everyday items, including pharmaceuticals, automotive parts, tires, dyes, photochemicals, agricultural chemicals, and building materials.
The First Chemical Corporation has four independent operating units in the contiguous facility. The four units include: the Port Facility Unit (Aniline Production), the Nitration #1 Unit, Nitration #2 Unit, and the Hydrogenation Units #1 and #2.
In 2009, the plant was ordered to pay $731,000 in civil penalties to the federal government after an explosion in 2002 that left two people injured.
https://www.wlox.com/2020/07/06/chemours-close-first-chemical-pascagoula-plant/
July 14, 2020
ICIS Acquisition
ICIS acquires Chemical Data Dear
We wanted to let you know about an exciting development at ICIS that could unlock new opportunities for you in a rapidly changing and uncertain marketplace. As of today, ICIS has acquired Chemical Data, LLC (CDI), a leading provider of US petrochemical price benchmarks, market analysis, and predictive analytics, powered by a team of industry experts with extensive experience.
For decades, ICIS has delivered comprehensive insight to the chemical and energy industries globally. CDI enhances our US coverage with access to one of the leading sources of US pricing intelligence, market analysis, and forecasting, deepening our market relationships and industry network. Together we will deliver deeper and comprehensive insight across the global chemical and plastics value chain when it is needed the most.
The acquisition enhances ICIS’ ability to deliver global price benchmark data, analytics and thought leadership that is established, trusted and differentiated by providing an even greater focus on US markets. This news demonstrates our joint commitment to supporting the chemical industry to make better informed decisions and brings significant benefits to our industry. Together our combined business will deliver: Access to the industry’s most comprehensive view of the global chemicals industry, which now includes a leading provider of US chemical intelligence delivered by a highly experienced team across both ICIS and CDI. Recognised price benchmarks in the US adding to complementary price benchmarks provided by ICIS in European and Asian markets. Even stronger global content and capabilities through the combination of CDI’s expertise and deep market connections in the US with ICIS’ global reach in dynamic international markets. Comprehensive analytical and consulting capabilities in both the US and global markets to identify future trends and regional dependencies. Deeper understanding of US segments, especially polymers, supported by deep market connections and strong brand recognition to deliver intelligence with trust and credibility. 
At ICIS, our team is committed to ensuring we partner with you to deliver the intelligence you require to make trusted, timely and critical business decisions when you need it the most, both now and in the future. Because only together, we can shape the future of the chemical industry.
To ensure your decisions are based on the best information available, please get in touch: clientsuccess@icis.com 
Dean Curtis President and CEO, ICIS
July 14, 2020
ICIS Acquisition
ICIS acquires Chemical Data Dear
We wanted to let you know about an exciting development at ICIS that could unlock new opportunities for you in a rapidly changing and uncertain marketplace. As of today, ICIS has acquired Chemical Data, LLC (CDI), a leading provider of US petrochemical price benchmarks, market analysis, and predictive analytics, powered by a team of industry experts with extensive experience.
For decades, ICIS has delivered comprehensive insight to the chemical and energy industries globally. CDI enhances our US coverage with access to one of the leading sources of US pricing intelligence, market analysis, and forecasting, deepening our market relationships and industry network. Together we will deliver deeper and comprehensive insight across the global chemical and plastics value chain when it is needed the most.
The acquisition enhances ICIS’ ability to deliver global price benchmark data, analytics and thought leadership that is established, trusted and differentiated by providing an even greater focus on US markets. This news demonstrates our joint commitment to supporting the chemical industry to make better informed decisions and brings significant benefits to our industry. Together our combined business will deliver: Access to the industry’s most comprehensive view of the global chemicals industry, which now includes a leading provider of US chemical intelligence delivered by a highly experienced team across both ICIS and CDI. Recognised price benchmarks in the US adding to complementary price benchmarks provided by ICIS in European and Asian markets. Even stronger global content and capabilities through the combination of CDI’s expertise and deep market connections in the US with ICIS’ global reach in dynamic international markets. Comprehensive analytical and consulting capabilities in both the US and global markets to identify future trends and regional dependencies. Deeper understanding of US segments, especially polymers, supported by deep market connections and strong brand recognition to deliver intelligence with trust and credibility. At ICIS, our team is committed to ensuring we partner with you to deliver the intelligence you require to make trusted, timely and critical business decisions when you need it the most, both now and in the future. Because only together, we can shape the future of the chemical industry.
To ensure your decisions are based on the best information available, please get in touch: clientsuccess@icis.com Dean Curtis President and CEO, ICIS
July 9, 2020
Covestro Preliminary Q2 Results
Covestro AG: Preliminary EBITDA of EUR 124 million in Q2 2020 is above market expectation
In the course of preparing the half-year financial report 2020 for the Covestro Group, preliminary Q2 key financial data deviate from capital market expectations, based on the average values of latest consensus estimates of financial analysts, published by Vara Research on July 8, 2020.
Therefore, Covestro provides already today the following Q2 pre-release of the Group half-year financial report 2020:
• Preliminary sales amount to EUR 2,156 million in Q2’20. Consensus expects this number to be EUR 2,223 million.
• Preliminary volume effect in sales amounts to -22% in Q2’20. Consensus expects this number to be -22.5%.
• Preliminary EBITDA amounts to EUR 124 million in Q2’20. Consensus expects this number to be EUR 80 million.
• Preliminary net income amounts to around EUR -60 million in Q2’20. Consensus expects this number to be EUR -107 million.
The entire half-year financial report 2020 will be published on July 23, 2020.
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