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Daily news and top headlines for manufacturing professionals

Covidien Selling Specialty Chemicals Unit

May 26, 2010 6:00 am | News | Comments

Health care products supplier Covidien said it plans to sell its specialty chemicals business for $280 million in cash to an affiliate of New Mountain Capital.

Oil Tax Could Quadruple

May 25, 2010 5:14 am | by Stephen Ohlemacher, Associated Press Writer | News | Comments

Congress is getting ready to quadruple a tax on oil used to help finance cleanups to 32 cents a barrel, which would raise nearly $11 billion over the next decade.

BP Disaster May Lead To Changes In Offshore Drilling

May 25, 2010 5:09 am | by Chris Kkahn, AP Energy Writer | News | Comments

Massive oil spill in the Gulf of Mexico has focused attention on the petroleum industry's loose regulation and failure to plan for the worst.

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Gulf Oil Spill Helps Some Companies

May 24, 2010 4:57 am | by Kevin Spears, AP | News | Comments

Ever since an offshore drilling rig exploded over three weeks ago, boom manufacturers have struggled to catch up in what amounts to the biggest boom in booms ever.

Raw Materials Force Hexion To Raise Prices

May 20, 2010 7:38 am | News | Comments

Hexion Specialty Chemicals said it plans to raise prices on is acrylic, styrene acrylic and styrene butadiene products in Europe, the Middle East and Africa.

Oil Prices Fall 20 Percent In Two Weeks

May 17, 2010 10:45 am | by Mark Williams, AP Energy Writer | News | Comments

Crude prices have fallen about 20 percent in two weeks as investors worry that a debt crisis in Europe could spread to the U.S. and hurt the global recovery.

OSHA Official: BP Has Issues With Safety

May 17, 2010 10:30 am | News | Comments

Deputy Assistant Secretary of Labor for OSHA says BP has 'systemic safety problem' and has not adequately addressed issues, despite being fined over $87 million.

BP Probe Finds Safety Issues On Atlantis Rig

May 17, 2010 5:57 am | by Noaki Schwartz and Ramit Plushnick-Masti, Associated Press Writers | News | Comments

Company probe finds problems with a second rig, which one official warned could 'lead to catastrophic operator error,' records and interviews show.

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DuPont Buying Minority Stake In Chinese Chem Maker

May 14, 2010 10:40 am | News | Comments

Company said deal to buy Changshu 3F Zhonghao New Chemical Materials Co. will expand DuPont's reach into the fluorochemical market.

Green Groups Hope Oil Spill Boosts Movement

May 12, 2010 6:25 am | by Tamara Lush, Associated Press | News | Comments

Activists hope Gulf oil spill is the catalyst America's green movement needs to get Americans to pump less gasoline, buy hybrids and downsize their consumer lifestyle.

IEA Expects Global Oil Demand To Weaken

May 12, 2010 4:59 am | by Pablo Gorondi, Associated Press Writer | News | Comments

International Energy Agency said global oil demand is expected to rise less than previously expected as it cut its forecasts by a daily 220,000 barrels.

BP Shareholder Sues Execs Over Oil Spill

May 10, 2010 8:05 am | by Kevin McGill, Associated Press Writer | News | Comments

Lawsuit accuses BP's CEO and other executives of ignoring safety issues on oil rigs such as the Deepwater Horizon, which exploded on April 20.

Eastman Chemical Wins Energy Efficiency Awards

May 5, 2010 5:35 am | News | Comments

Tennessee-based company that makes chemicals, fibers and plastics used in everyday products earned energy efficiency awards again from the American Chemistry Council.

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BASF 1Q Profit Hits $1.4 Billion, Nearly Triples

April 29, 2010 5:37 am | News | Comments

German chemical company said the economic recovery and a push by customers to restock their own inventories helped it nearly triple its first-quarter net profit to $1.4 billion.

Merck KGaA’s 1Q Profit Surges To $254M

April 28, 2010 5:25 am | News | Comments

German company reports demand for liquid crystals used in flat-screen televisions and computer monitors helped push first-quarter net profit more than three times higher.

DSM’s 1Q Earnings Surge On Global Demand

April 28, 2010 5:20 am | News | Comments

Chemicals maker reported a 10-fold rise in profit for the first quarter due to a surge in demand for its plastics, fibers and resins in developing countries.

DuPont’s Quarterly Profit More Than Doubles

April 27, 2010 11:20 am | by Randall Chase, AP Business Writer | News | Comments

Chemical maker continued its turnaround with a strong first quarter performance, reporting earnings of about $1.14 billion, up from $488 million for the first quarter of last year.

BP Pledges To Clean Up Oil Spill

April 23, 2010 5:10 am | News | Comments

The British oil major said Friday it is doing everything it can to contain an oil spill from the drilling platform in the Gulf of Mexico that exploded into flames before sinking.

Kentucky Landowners Settle Suit Over Uranium Leaks

April 20, 2010 8:34 am | by Brett Barrouquere, Associated Press Writer | Lockheed Martin | News | Comments

Landowners settled long-running lawsuit involving multiple companies, including Lockheed Martin, for $1.75 million over allegations leaks from uranium enrichment plant devalued property.

OPEC Says Crude Demand Down

April 14, 2010 4:54 am | News | Comments

Organization of the Petroleum Exporting Countries lowered its forecast for oil demand this year, reflecting a world economy that's still struggling.

IEA: Oil Prices Could Hurt Economic Recovery

April 13, 2010 4:48 am | News | Comments

Recovery in the world's biggest economies could be jeopardized if crude oil prices stay over $80 per barrel, the International Energy Agency said.

FDA To Review Chemical In Soap

April 9, 2010 5:09 am | News | Comments

Food and Drug Administration reviewing safety of triclosan, a widely used chemical found in antibacterial soap, toothpaste and other consumer goods.

Sherwin-Williams Acquires Arch Chemicals Unit

March 31, 2010 11:10 am | News | Comments

Paint manufacturer said it has completed its $54 million purchase of Arch Chemicals Inc.'s industrial wood coatings business.

OPEC Says Current Oil Prices 'Fair'

March 31, 2010 5:12 am | News | Comments

Head of Organization of Petroleum Exporting Countries said current oil prices hovering around $80 a barrel are good for world economy and oil-producing countries.

DSM Sells Fertilizer Unit For $418M

March 30, 2010 4:55 am | News | Comments

Royal DSM NV, the Dutch chemicals company, says it will sell its fertilizer and melamine businesses to Egypt's Orascom Construction Industries for $418 million.

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