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Taurus Energy collaborative agreements with European and US ethanol producers
FOCUS Taurus Energy collaborative agreements with European and US ethanol producers Taurus Energy AB has signed an agreement with 2 leading companies in the area of technology for cellulose-based bioethanol. One is with a European research firm in the ethanol sector and the other is with a US firm which develops technology for ethanol production. Under both agreements Taurus Energy’s technology will be tested with the partners’ sugar solutions (hydrolysates) for making environmentally friendly ethanol for use as a fuel. The European partnership will involve process optimization and determining the yeast strain which is best for its process and for the selected hydrolysate. The aim is to put in place a yeast supply agreement. In the second agreement the partner will work to develop the best technology solution for the ethanol production process and will seek the optimal yeast strain for various hydrolysates. Original Source: Affarsvarlden, 21 Nov 2012, (Website: http://www.affarsvarlden.se/) (in Swedish) © Talentum Media AB 2012
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project, which is expected to start up in 2014. Original Source: Honeywell International Inc, 101 Columbia Road, Morristown, NJ, USA, tel: +1 973 4552000, fax: +1 973 455 4807, website:http://www.honeywell.com (8 Nov 2012) © Honeywell International Inc 2012
Verenium reports financial results for 3Q and nine months ended Sep 2012 Verenium Corp, a leading industrial biotechnology company focused on the development and commercialisation of high-performance enzymes, reported operating highlights and financial results for 3Q and nine months ended Sep 2012. Total revenues for nine months of 2012 decreased 8% to $43.2 M from $46.9 M for the nine months of 2011. Total revenue for 3Q 2012 was $10.262 M ($18.416 M for 3Q 2011). Net income from continuing operations for nine months of 2012 was $22.4 M compared to $8.1 M for nine months of 2011, on a GAAP accounting basis. Net loss attributed to Verenium was $5.257 M for 3Q 2012 (income of $5.798 M in 3Q 2011). Original Source: Verenium Corp. Found on PR Newswire, 8 Nov 2012, (Website: http://www.prnewswire.com)
WR Grace results 3Q 2012 UOP wins third license for breakthrough MTO technology UOP LLC, announced on 8 Nov 2012 the third technology license for its breakthrough methanol-to-olefins (MTO) technology, which converts methanol from coal into key plastics building blocks. China’s Shandong Yangmei Hengtong Chemicals Co Ltd will use UOP’s advanced MTO process, which combines UOP/Hydro MTO process and the Total Petrochemicals/UOP Olefin Cracking process to convert methanol from gasified coal into ethylene and propylene. A Honeywell official noted that the technology will help Shandong meet growing demand in China for ethylene and propylene. Shandong will use UOP’s MTO solution to produce more than 295,000 tonne/y of ethylene and propylene at its plant in Tancheng, Linyi City, China. UOP will also provide basic engineering, catalysts, adsorbents, specialty equipment, technical services and training for the JANUARY 2013
WR Grace & Co has announced 3Q 2012 net income of $75.5 M, or $0.99 per diluted share. Net income for 3Q 2011 was $81.3 M, or $1.07 per diluted share. Adjusted EPS was $1.04 per diluted share compared with $1.16 per diluted share for 3Q 2011. 3Q 2012 sales of $776.6 M declined 10.1% compared with 3Q 2011 as improved base pricing (+3.7%) and higher sales volumes (+1.6%) were offset by lower rare earth surcharges (-9.5%) and unfavourable currency translation (-5.9%). Sales in emerging regions represented 39.1% of sales and grew 16.8% compared with the prior-year quarter. Acquisitions contributed $7.2 M to sales in the quarter, while divestitures decreased sales by $5.3 M. Gross profit of $284.8 M declined 10.0% compared with 3Q 2011 as improved base pricing and higher sales volumes were more than offset by unfavourable currency translation, unfavourable product mix and the impact of lower rare earth costs and
volumes on capitalized inventory values. Gross margin of 36.7% increased 10 basis points compared with the prior-year quarter, continuing at the top-end of the company’s target range of 35 to 37%. Adjusted EBIT of $129.1 M decreased 9.0% compared with $141.9 M in 3Q 2011. The decrease primarily was due to lower segment operating income in Catalysts Technologies and Materials Technologies, which partially was offset by higher segment operating income in Construction Products and lower corporate expenses. Adjusted EBIT margin improved to 16.6% compared with 16.4% in the prior-year quarter. Net income for the nine months ended 30 Sep 2012, was $205.7 M, or $2.70 per diluted share, compared with $211.3 M, or $2.80 per diluted share for the prior-year period. Adjusted EPS was $3.07 per diluted share compared with $3.06 per diluted share for Jan-Sep 2011. Sales for Jan-Sep 2012 decreased 1.2% to $2.36 bn as improved base pricing (+4.8%) and higher sales volumes (+2.0%) were offset by unfavourable currency translation (-4.1%) and lower rare earth surcharges (-3.9%). Sales in emerging regions represented 36.3% of sales and grew 14.8% compared with 3Q 2011. Gross profit of $866.0 M decreased 0.8% compared with the 3Q 2011. Gross margin of 36.7% increased 10 basis points compared with 3Q 2011. Adjusted EBIT was $384.0 M, an increase of 3.7% compared with the prior-year period. The improvement in Adjusted EBIT was due to improved pricing, higher sales volumes and lower expenses. The 2012 outlook for Adjusted EBIT has been narrowed to the range of $510 M-$520 M. Key results are tabulated. Original Source: WR Grace & Co Results 3Q 2012, 24 Oct 2012, 1-2,8-9 (WR Grace & Co, website: http://www.grace.com) © WR Grace & Co – Conn 2012
WR Grace 3Q 2012: Catalysts Technologies results WR Grace & Co’s 3Q 2012 sales for the Catalysts Technologies operating segment, which includes specialty catalysts and additives for refinery, plastics and other chemical process applications, were $298.9 M, a decrease of 19.0% compared with 2Q 2011. The decrease was due to lower
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project, which is expected to start up in 2014. Original Source: Honeywell International Inc, 101 Columbia Road, Morristown, NJ, USA, tel: +1 973 4552000, fax: +1 973 455 4807, website:http://www.honeywell.com (8 Nov 2012) © Honeywell International Inc 2012
Verenium reports financial results for 3Q and nine months ended Sep 2012 Verenium Corp, a leading industrial biotechnology company focused on the development and commercialisation of high-performance enzymes, reported operating highlights and financial results for 3Q and nine months ended Sep 2012. Total revenues for nine months of 2012 decreased 8% to $43.2 M from $46.9 M for the nine months of 2011. Total revenue for 3Q 2012 was $10.262 M ($18.416 M for 3Q 2011). Net income from continuing operations for nine months of 2012 was $22.4 M compared to $8.1 M for nine months of 2011, on a GAAP accounting basis. Net loss attributed to Verenium was $5.257 M for 3Q 2012 (income of $5.798 M in 3Q 2011). Original Source: Verenium Corp. Found on PR Newswire, 8 Nov 2012, (Website: http://www.prnewswire.com)
WR Grace results 3Q 2012 UOP wins third license for breakthrough MTO technology UOP LLC, announced on 8 Nov 2012 the third technology license for its breakthrough methanol-to-olefins (MTO) technology, which converts methanol from coal into key plastics building blocks. China’s Shandong Yangmei Hengtong Chemicals Co Ltd will use UOP’s advanced MTO process, which combines UOP/Hydro MTO process and the Total Petrochemicals/UOP Olefin Cracking process to convert methanol from gasified coal into ethylene and propylene. A Honeywell official noted that the technology will help Shandong meet growing demand in China for ethylene and propylene. Shandong will use UOP’s MTO solution to produce more than 295,000 tonne/y of ethylene and propylene at its plant in Tancheng, Linyi City, China. UOP will also provide basic engineering, catalysts, adsorbents, specialty equipment, technical services and training for the JANUARY 2013
WR Grace & Co has announced 3Q 2012 net income of $75.5 M, or $0.99 per diluted share. Net income for 3Q 2011 was $81.3 M, or $1.07 per diluted share. Adjusted EPS was $1.04 per diluted share compared with $1.16 per diluted share for 3Q 2011. 3Q 2012 sales of $776.6 M declined 10.1% compared with 3Q 2011 as improved base pricing (+3.7%) and higher sales volumes (+1.6%) were offset by lower rare earth surcharges (-9.5%) and unfavourable currency translation (-5.9%). Sales in emerging regions represented 39.1% of sales and grew 16.8% compared with the prior-year quarter. Acquisitions contributed $7.2 M to sales in the quarter, while divestitures decreased sales by $5.3 M. Gross profit of $284.8 M declined 10.0% compared with 3Q 2011 as improved base pricing and higher sales volumes were more than offset by unfavourable currency translation, unfavourable product mix and the impact of lower rare earth costs and
volumes on capitalized inventory values. Gross margin of 36.7% increased 10 basis points compared with the prior-year quarter, continuing at the top-end of the company’s target range of 35 to 37%. Adjusted EBIT of $129.1 M decreased 9.0% compared with $141.9 M in 3Q 2011. The decrease primarily was due to lower segment operating income in Catalysts Technologies and Materials Technologies, which partially was offset by higher segment operating income in Construction Products and lower corporate expenses. Adjusted EBIT margin improved to 16.6% compared with 16.4% in the prior-year quarter. Net income for the nine months ended 30 Sep 2012, was $205.7 M, or $2.70 per diluted share, compared with $211.3 M, or $2.80 per diluted share for the prior-year period. Adjusted EPS was $3.07 per diluted share compared with $3.06 per diluted share for Jan-Sep 2011. Sales for Jan-Sep 2012 decreased 1.2% to $2.36 bn as improved base pricing (+4.8%) and higher sales volumes (+2.0%) were offset by unfavourable currency translation (-4.1%) and lower rare earth surcharges (-3.9%). Sales in emerging regions represented 36.3% of sales and grew 14.8% compared with 3Q 2011. Gross profit of $866.0 M decreased 0.8% compared with the 3Q 2011. Gross margin of 36.7% increased 10 basis points compared with 3Q 2011. Adjusted EBIT was $384.0 M, an increase of 3.7% compared with the prior-year period. The improvement in Adjusted EBIT was due to improved pricing, higher sales volumes and lower expenses. The 2012 outlook for Adjusted EBIT has been narrowed to the range of $510 M-$520 M. Key results are tabulated. Original Source: WR Grace & Co Results 3Q 2012, 24 Oct 2012, 1-2,8-9 (WR Grace & Co, website: http://www.grace.com) © WR Grace & Co – Conn 2012
WR Grace 3Q 2012: Catalysts Technologies results WR Grace & Co’s 3Q 2012 sales for the Catalysts Technologies operating segment, which includes specialty catalysts and additives for refinery, plastics and other chemical process applications, were $298.9 M, a decrease of 19.0% compared with 2Q 2011. The decrease was due to lower
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