Alain Harfouche of Guggenheim Securities expects transformative mergers and acquisitions, corporate carve-outs and other activity to pick up among chemical companies worldwide now that stakeholders have a better idea of what their earnings will look like in 2020 and 2021. "[I]t is a good time for companies to not only take stock of their portfolios but to also take action -- by making acquisitions to transform or to let
go of non-core assets," he said.
The House Energy and Water Appropriations Subcommittee on Tuesday advanced a fiscal 2021 spending bill that would direct $49.6 billion toward energy and water development and related agencies. The full committee is expected to mark up the bill next week.
NOVA Chemicals has named Luis Sierra to succeed Todd Karran as CEO, effective Aug. 1. NOVA expects Sierra to guide the company through the economic slowdown and into the next phase of development, says Chairman Musabbeh Al Kaabi.
The American Chemistry Council's Responsible Care program has been providing the industry with incident planning response requirements and employee health and safety guidelines for 35 years, and is part of the reason the industry was well-positioned to remain operational and deliver essential products during the coronavirus pandemic, says President and CEO Chris Jahn. "Responsible Care has really instilled a culture of preparedness in our member companies," he says.
Daewoong Pharmaceutical says it will begin clinical trials of a stem cell therapy designed to treat COVID-19 patients. The therapy, which targets acute respiratory illness, has proven to be effective in animal tests, the company says.
The House Appropriations Committee on Monday unveiled a bill that would allocate $36.7 billion in funding for the Environmental Protection Agency and Interior Department for fiscal 2021. The bill rejects President Donald Trump's proposal to cut the EPA and Interior Department's budgets by 26% and 16%, respectively.
The House Energy and Water Appropriations Subcommittee has released a draft spending bill for fiscal 2021 that includes increased funding for energy and water development and related agencies by $1.3 billion, to $49.6 billion.
The US-Mexico-Canada Agreement is now in effect and offers many benefits for US businesses, as well as the economies of all three nations involved, write Lt. Gen. H.R. McMaster of the Hoover Institution and Pabol Tortolero, a Fulbright Scholar. Leaders ensuring the flow of essential products in the US amid the coronavirus should now shift their focus on building supply chain resilience and other factors for post-pandemic economic success, they write
The Environmental Protection Agency has identified two List N disinfectants proven effective against the coronavirus and approved label claims. The agency expects to approve more claims for List N substances in the coming weeks.
Chemours has decided to close its First Chemical facility in Pascagoula, Mississippi, this year following a strategic business review. The facility produces aniline intermediates and derivatives and nitrobenzene.