US A. Schulman Q4 profit tops estimate

MOSCOW (MRC) -- US-based compounder A Schulmanreported net income for the fourth quarter of USD15.2 million or USD0.52 per share, compared to a net loss of USD2.7 million or USD0.09 per share for the year-ago quarter, said the company.

Earnings from continuing operations for the fourth quarter was USD0.51 per share, compared to a loss from continued operations of USD0.04 per share in the prior year quarter.

Excluding items, adjusted earnings for the fourth quarter were USD0.66 per share, compared to USD0.55 per share last year.

Analysts polled by Thomson Reuters expected the company to earn USD0.64 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Net sales for the fourth quarter rose 16.8% to USD627.4 million from USD537.3 million a year ago.

For the fiscal year 2015, the company forecasts adjusted earnings of USD2.60 to USD2.65 per share. Analysts currently expect the company to earn USD2.60 per share for the fiscal year 2015.

As MRC wrote before, Schulman, Inc. has announced that it has purchased the Perrite Group, a thermoplastics manufacturing business with operations in Malaysia, the United Kingdom and France, for approximately USD52 million. Perrite was part of the Vita Group portfolio of companies.

A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. The company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The company employs approximately 3,300 people and has 34 manufacturing facilities globally.
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MOSCOW (MRC) -- PPG Industries said it reached an agreement to buy Westmoreland Supply, an independent paint distributor with 12 stores that will further boost PPG’s regional retail footprint, said the company in its press release.

Financial terms were not disclosed. The stores -- 11 in Western Pennsylvania and one in West Virginia -- will be rebranded under the PPG Paints store name.

Most of Westmoreland Supply’s 40-plus employees will likely work for PPG when the sale closes, PPG said. Downtown-based PPG expects the deal to be finalized before the end of the year.

PPG has more than 900 company-owned stores in North America.

In June, PPG said it was acquiring 13 stores from Masterwork. Those stores are in Pennsylvania, Ohio, and New York.

As MRC wrote before, PPG Industries Inc. PPG said its third-quarter earnings rose 64% amid broad sales growth across its main business segments. The Pittsburgh company has turned to acquisitions as part of its efforts to transform itself into a company focused more on paints and coatings.

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum coils; marine and aircraft equipment; automotive original equipment; and other industrial and consumer products. The Optical and Specialty Materials segment consist of the optical products and silicas businesses. PPG is a producer and supplier of basic chemicals. Glass segment produces flat glass and continuous-strand fiber glass. In July 2014, PPG acquired Masterwork Paint Co. In July 2014, the Company announced that its North American architectural coatings business has completed acquisition of The Homax Group, Inc., supplier of decorative wall and ceiling texture repair products, from Olympus Partners.
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MOSCOW (MRC) -- In Q3 2014 Unipetrol Group posted very good results and significantly increased its profitability, as per the company's statement.

Company recorded operational profit (EBITDA LIFO) of CZK 2.304 bn. Net profit reached CZK 1.399 bn(USD64.5million). Revenues increased y/y by 37% to CZK 34.041 bn in 3Q14.

"Very good results in the third quarter were affected by significant improvement in refining margins which were the highest since the beginning of 2013, and an increase also in the petchem margin. Important is, that we managed to take advantage of positive macroeconomic conditions through very reliable production and higher sales volumes across all segments," says CEO and Chairman of the Board of Directors of Unipetrol Marek Switajewski.

Operational profit EBITDA LIFO in the petrochemical part of downstream segment amounted at CZK 1.336 bn in 3Q14. Company recorded a sales increase of petrochemical products to 449kt in Q3 (+23% y/y). Higher sales were driven by very good market demand and production without limitations. Steam-cracker utilization ratio reached 89% in Q3. The sales of polyethylene increased by 25% and of polypropylene by 32%. On the other hand renewable energy charges (OZE) continues to burden results of the petrochemical business.

As MRC reported earlier, last year, Unipetrol acquired technology and production rights for a new polyethylene unit and wants to pick a contractor for the project in the first half of 2014. The company, after posting net losses in 2011 and 2012, laid out plans to invest almost USD1 billion over the next five years and make its petrochemical segment the biggest contributor to profit.

Unipetrol expects petrochemicals to become the largest source of revenue for the company in 2013-2017. Unipetrol wants to use the favourable market conditions to reinforce its position on the petrochemical market and optimise its operations.

Unipetrol , a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production. In all of these business areas the Unipetrol Group is among the key players both in the Czech Republic and on the Central European market. The Group ranks among the leading firms in the Czech Republic in terms of its revenues, and employs almost 4,000 people.
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MOSCOW (MRC) -- Two top executives at Moscow’s Vnukovo airport have tendered their resignations and Russian investigators detained four more employees following a plane crash that killed the head of Total, reported Hydrocarbonprocessing.

Vnukovo general director Andrey Dyakov and his deputy Sergey Solntsev resigned following the Oct. 20 crash that killed Total CEO Christophe de Margerie, according to an e-mailed statement from the airport.

Russia’s Investigative Committee detained two air traffic controllers, a flight operations officer and the head airfield-service engineer in connection with the accident, in addition to the driver of a snowplow the plane hit, it said on its website.

De Margerie was one of Russia’s most outspoken supporters in the European business community, and condemned US and European Union sanctions on the country as "unfair and unproductive" hours before the crash, which also killed three crew members on board the private jet.

Total, France’s largest company by sales, appointed its refining chief Patrick Pouyanne as his replacement.

A Moscow court condoned the arrest of Vladimir Martynenko, the driver of a snowplow that collided with de Margerie’s plane on a runway at Vnukovo, RIA Novosti reported from the courtroom.

The Investigative Committee alleges the driver was drunk, a charge his lawyer, Alexander Karabanov, denies.

As MRC wrote before, Total in September said its joint venture with Russia’s Lukoil, to explore shale oil in western Siberia, had ground to a halt as a result of western sanctions.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
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MOSCOW (MRC) -- Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, announces it has secured financing for Borealis investment in research and development on plastic materials at several of its facilities, said the company.

The KfW IPEX-Bank loan of EUR 75 million will run parallel with the EUR 150 million European Investment Bank (EIB) financing package announced earlier this year. The new agreement was signed by the two parties in Frankfurt on 14 October 2014.

The KfW IPEX-Bank loan supports Borealis investment in its European innovation centres. As a programme spanning several years, the project will continue to focus primarily on product innovation in the area of advanced polymers.

"For Borealis, the cooperation with KfW IPEX-Bank represents another milestone in its continuous investment in research and development in Europe", says Jan-Martin Nufer, Borealis Director Treasury & Funding. We are delighted to work once more with KfW as an excellent partner for the financing of our innovation centers."

Within the KfW Group, KfW IPEX-Bank is responsible for international project and export finance. Its function of providing financing to boost the German and European economy is derived from the legal mandate assigned to KfW. It offers medium- and long-term financing to support key export industries, to develop economic and social infrastructure and to fund environmental and climate protection projects. KfW IPEX-Bank operates as a legally independent group subsidiary and plays a major role in fulfilling KfW's promotional mission. It is represented in the most important economic and financial centres across the globe.

As MRC wroet before, Jacobs Engineering Group received a contract from Borealis to provide engineering, procurement, project management and construction management services for a project to increase cross-linked polyethylene (XLPE) capacity at its manufacturing site in Stenungsund, Sweden.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. This year, Borealis already celebrates its 20th anniversary. With headquarters in Vienna, Austria, Borealis currently employs around 6,400 and operates in over 120 countries. It generated EUR 8.1 billion in sales revenue in 2013. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, with the remaining 36% owned by OMV, the leading energy group in the European growth belt. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
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