CRISIL has reaffirmed its ratings on the bank facilities and debt programme of Coromandel International Ltd (Coromandel; formerly, Coromandel Fertilisers Ltd) at "˜AA+/Stable/P1+'. The reaffirmation follows Coromandel's announcement that it plan
The global chemical industry has undergone a transformation since major financial crisis of 2008. The chemical industry benefitted from industry discipline and rapid economic recovery, especially in China and India. Despite unplanned outages, the ind
Reliance maintained its leadership in the domestic market with a commodity polymer production share of 47%. RIL's polymer production for the year remained unchanged despite turnaround activities carried out during the year. RIL's cracker operatin
CRISIL has reaffirmed its "˜AA/Stable/P1+' ratings on Nirma Ltd's (Nirma's) outstanding debt programme and bank facilities. The ratings continue to reflect Nirma's healthy financial risk profile and established market position in the deterge
LyondellBasell today announced its intention to seek a buyer for the 105,000 barrels-per-day refinery at Berre, France operated by its subsidiary, Compagnie Petrochimique de Berre S.A.S (CPB). An investment banking firm will be retained to assist wit
Insecticides (India), one of the fastest growing companies in agrochemicals Industry, posted a 20% rise in revenues and a 14% jump in the net profit for the FY 2010-11, over the previous year. While the company saw its net profit touching Rs. 32.21
Ashland Inc. and International Specialty Products Inc. (ISP) today announced that Ashland has agreed to acquire privately owned ISP, a global specialty chemical manufacturer of innovative functional ingredients and technologies. Under the terms of th
The Department of Chemicals and Petrochemicals (DCPC) has said that the production of synthetic rubber in the country has gone up a few metric tonnes than previous years.
Indian Oil Corporation Ltd. (IndianOil) has reported an excellent performance for the year 2010-11. Riding on a robust performance driven by the highest ever sales of petroleum products and high capacity utilization of refineries and pipelines, the C
BASF SE and INEOS Industries Holdings Limited have made an important step towards the establishment of the joint venture company Styrolution. On May 27, 2011 the companies signed a joint venture contract, which regulates the formation of the joint ve
Bodal Chemicals has approached the Ministry of Environment and Forests in connection with proposed expansion of its synthetic organic chemicals manufacturing capacity and proposed cogeneration power plant in it unit at Dudhwada in Gujarat's Vadodar
CRISIL's ratings on the bank facilities of Pondy Oxides & Chemicals Ltd (POCL, part of the Bansal group) continue to reflect the Bansal group's established market position in the metallic oxides industry, its strong operational capabilities, and
Brian Davis took up the role of Shell Vice President (VP) for Global Base Chemicals on May 1, 2011. He succeeds Graham van't Hoff who has been appointed Chairman for Shell in the UK. Prior to this appointment Brian was Vice President Downstream Str
BASF will build the world's largest single-train TDI (toluene diisocyanate) plant in Europe. The plant will have a capacity of 300,000 metric tons per year and will be fully integrated with precursor production. The TDI plant will be located at one
Gujarat Alkalies and Chemicals Limited (GACL) has reported a net profit of Rs 114.31 crore in FY11 against that of Rs 111.84 crore in FY10. The company achieved Net External Sales (excluding Excise Duty) of Rs 1,423.17 crore for the year ended 31st
As many as 122 special economic zones (SEZs) are operational in the country having investment of Rs 1,61,743 crore. In a recent meeting of the Board of Approval on SEZs, a fact sheet was provided indicating the number of approvals under SEZs, operati
Vardhaman Organics has approached the Environment and Forests Ministry for change of product mix and addition of dyes and pesticide intermediates at its manufacturing unit at Sachin in Gujarat's Surat district.
CRISIL's ratings on Gujarat Fluorochemicals Ltd's (GFL's) bank loan facilities and commercial paper programme continue to reflect GFL's integrated operations and diversified product profile, strong liquidity, and comfortable financial risk pr
CRISIL has assigned its "˜BB/Stable/P4+' ratings to the bank facilities of Polygon Chemicals Pvt Ltd (PCPL).The ratings reflect PCPL's susceptibility to volatility in raw material prices and intense industry competition. These rating weaknesses
ICRA has assigned a short-term rating of A1+ to the Rs 2585 crore non fund based limits (enhanced from Rs 2185 crore) of Zuari Industries Limited (ZIL). ICRA has also reaffirmed the LA+ (Stable) rating assigned to the Rs 600 crore long term fund ba
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