Chemical | 31 July 2020
Ashland lower sales offset by strong consumer specialties demand and cost reductions
Sales drop due to COVID-19 pandemic.
Sales drop due to COVID-19 pandemic.
Company's profit jumped to Rs 121 crore in Q1 FY21.
COVID-19 pandemic is likley to severely impact the whole year revenue gudiance due to which the company is focusing on mitigation and cash generation.
Project is focused on increasing the performance, manufacturability and environmental profile of lithium-ion battery (LIB) cells.
Sales drop by 53% in second quarter.
As a Tier 2 member, the company will provide unique carbon fiber Non-Crimp Fabrics as well as Thermoset and Thermoplastic prepreg materials for diverse applications in these projects and in other NCC development programs.
The agreement enhances Firmenich's position in naturals and sustainability.
HQ to be shifted to Chattanooga, Tennessee from Dalton, Georgia.
The deal involves developing solutions aimed at optimizing the management and recovery of all industrial waste produced on 20 sites located across France.
Company achieved Rs. 100 crore in 67 days whereas the next Rs. 100 crore was achieved only within 51 days in FY20-21.
The acquisition is slated for completion around early August.
The new business will produce a range of hospital grade hand gels, sanitiser sprays for hands and surfaces and sanitiser wipes, for retail sale, available for the home and to the public.
Acetyl and materials segment impacted the most during the quarter.
The partnership includes the supply of refinish products and color-matching solutions.
The collaboration with D&R Dispersions and Resins offers strategic manufacturing capabilities in Eastern Europe to meet the resin production needs for specialty applications.
The plant is expected to be completely operational by 2024 and is expected to help SABIC reach it's 2025 clean energy target.
Net income rose to Rs 3,246 crore in April-June quarter from Rs 2,800.28 crore in the same period a year ago.
Sales decline 14.55% to Rs 214.95 crore
The company had announced capital expenditure of Rs. 436 crore for the project.
Company anticipates approximately $195 million of cost savings from the restructuring actions in 2020.
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