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Weyerhaeuser (WY)
Weyerhaeuserwas among 35 international companies recognized today by the investor-backed Forest Footprint Disclosure for leadership in managing their operations and supply chains to minimize the effects on forests worldwide.
The report also named Weyerhaeuser best performer in the Industrial and Auto sector. Weyerhaeuser was the only US-based company named a best performer.
Feb 10 · 4:56:00 PM · Source: Company Press Release
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by Michael Oliveto
Dow Chemical (DOW)
Dow Chemical said it will permanently shut down its 100-kilotonne-per-year capacity toluene diisocyanate (TDI) production plant in Freeport, TX.
Dow Polyurethanes will work with Dow Texas Operations to minimize the impact of this decision on the workforce, the company said. The plant will close because the company found manufacturing TDI is no longer economically viable, reports plasticnews.com. The major outlet for TDI is flexible foam for furniture and bedding.
Feb 10 · 4:48:00 PM · Source: Market Publishers
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by Michael Oliveto
Air Products (APD)
Air Products announced that it has made an offer to acquire Airgas, Inc. for $60.00 per share in cash.
At $60.00 per share, the offer provides a 38% premium to Airgas shareholders based on yesterday's closing price of $43.53 and is 18% above Airgas' 52-week high.
Feb 9 · 3:53:00 PM · Source: Reuters · Related: Airgas
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by Michael Oliveto
AK Steel (AKS)
About 284 workers laid off from AK Steel Corp's Mansfield plant have secured one victory this year all are back at work.
Mr Brian Speelman president of United Steelworkers of America Local 169 said “The last of those employees, who were laid off during the worst of the recession, returned to work late last month. Hourly union employees are working three shifts, seven days a week.”
Feb 9 · 3:49:00 PM · Source: Steel Guru
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by Michael Oliveto
Weyerhaeuser (WY)
Mitsubishi Corporation and Weyerhaeuser Company will be examining a variety of options regarding cooperation in the biomass industry. Both companies have specified this in the form of a strategic Memorandum of Understanding.
Weyerhaeuser sees existing and future opportunities on the international bio-energy market and has set its sights on becoming a leading bio-pellet manufacturer in cooperation with Mitsubishi.
Feb 9 · 3:39:00 PM · Source: EUWID Pulp and Paper
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by Michael Oliveto
Alcoa (AA)
Alcoa Inc. Monday opened the earnings season by reporting a fourth-quarter net loss of $277 million, or 28 cents a share. In the year-earlier quarter, Alcoa lost $1.2 billion, or $1.49 a share. Sales fell 4% to $5.4 billion.
Revenues topped analyst estimates.
Jan 11 · 4:47:00 PM · Source: Company News Release
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by Larry Etter
Alcoa (AA)
Alcoa reported for the 4th-quarter 2009 a loss of $277 million, or $-.28 per share, on sales of $5.4 billion. That compares to the prior year loss of $1.19 billion, or $-1.49 per share, on sales of $5.7 billion.
Alcoa is spinning the results positively that sales are up sequentially. That's nice, and they have cut their losses compared to Q4 2008. “This was a tough year for the aluminum industry – a price crash, demand destruction, and credit crunch. Yet, today Alcoa is stronger than when the year started,” said Klaus Kleinfeld, Alcoa President and CEO. “We reshaped our cost structure and portfolio for profitable growth. And, we built the cash reserves to weather current economic uncertainties and invest in opportunities for future growth. Alcoa will benefit from those achievements for many years to come.”
Jan 11 · 4:46:00 PM · Source: Company Press Release
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by Rich Pike
du Pont (DD)
The West Virginia state Supreme Court has again delayed a ruling in DuPont's appeal of a $400 million verdict against the company for polluting the Harrison County town of Spelter.
A ruling now is not expected until the spring 2010 term, which starts in mid-January. Last year, Harrison County jurors ruled against DuPont in a lawsuit that argued the company illegally polluted the community of Spelter, north of Clarksburg, with lead, zinc, cadmium and arsenic from a zinc smelter. The award included a $55 million cleanup plan, a medical-monitoring program worth $130 million and $196 million in punitive damages.
Dec 29 · 1:32:00 PM · Source: Trading Markets
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by Michael Oliveto
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