Reuters — Saskatchewan-based PotashCorp reported a bigger-than-expected rise in quarterly profit on Thursday and raised its full-year outlook, citing lower costs and increased sales volumes. Shares of the Saskatoon-based fertilizer producer rose 1.6 per cent in early New York trading, touching a three-week high. Revenue was lower in the first quarter due to weaker prices […] Read more
PotashCorp notches higher profit as sales climb
DuPont profit beats on strong seed demand
Reuters – Chemicals and seeds producer DuPont , which is merging with Dow Chemical Co, reported a better-than-expected profit for the seventh straight quarter, helped by a rise in seed sales, sending its share up 3.5 percent. DuPont, which is merging with Dow Chemical Co, continues to expect to close its merger in August, Chief […] Read more
Dow’s ledger benefits as economic growth boosts demand
Reuters — Dow Chemical, which is merging with DuPont, reported strong fourth-quarter results and gave an upbeat forecast for the current quarter as its focus on consumer markets benefits from improving economic growth worldwide. The seeds and chemical maker said improving growth in the United States, Latin American and Europe, besides steady Asia growth, would […] Read more
DuPont CEO sees little to concern regulators in Dow merger
Reuters — DuPont CEO Edward Breen said on Tuesday that antitrust regulators were likely to show “very little” concern about the company’s pending merger with Dow Chemical and were not expected to seek significant asset sales. Dupont and Dow plan to form a giant chemical and seed producer that would have a market value of […] Read more
PotashCorp shutting New Brunswick potash mine
Reuters — Weak conditions in the potash market will not improve any time soon, PotashCorp’s CEO said Tuesday as the fertilizer company announced it would suspend operations “indefinitely” at its New Brunswick mine. Potash Corp said it was putting its new Picadilly mine near Sussex, about 75 km northeast of St. John, in “care and […] Read more
Dow, DuPont to merge in deal to create chem giant
Reuters — Chemical giants DuPont and Dow Chemical agreed to merge in an all-stock deal valuing the combined company at US$130 billion in a win for activist investors that could spark further consolidation in the farm chemicals industry. The deal to combine two of the biggest and oldest U.S. chemical producers is a prelude to […] Read more
Dow-DuPont talks driven by weak farm demand, investor pressure
Reuters — Merger talks between Dow Chemical and DuPont are likely to have been precipitated by shareholder pressure and weakening demand for crop-protection chemicals, and such a deal would have been unlikely even a few months ago. Stocks of both companies jumped 12 per cent on Wednesday — Dow’s to a record high of $56.80 […] Read more
DuPont in talks with rivals about agribusiness
Reuters — DuPont is talking to rivals about its agriculture business, interim CEO Edward Breen said Tuesday, less than a week after Dow Chemical announced a review of its farm chemicals and seeds unit. Falling crop prices and rising fertilizer output have triggered talk of consolidation among farm-focused companies. DuPont has been touted as a […] Read more
Dow reviews options for farm chemical/seeds unit
Reuters — Dow Chemical said it would “review all options” for its farm chemicals and seeds unit, which has reported falling sales for nearly a year, and suggested that it might buy Corning’s stake in a silicon joint venture. Dow is also selling its stake in a Kuwaiti JV that produces a chemical used in […] Read more
PotashCorp hurt by fall in income from overseas investments
Reuters — Saskatchewan-based PotashCorp has narrowed its full-year earnings forecast range and reported a lower-than-expected quarterly profit as income fell from its overseas investments. The price of potash has plunged year over year, triggered by the breakup last year of trading partnership Belarusian Potash Co. that created more competition among producers. PotashCorp, the world’s biggest […] Read more
Canadian Cattlemen Presents: Depth of Field
