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Mexican chemical and petrochemical firm Mexichem (BMV: MEXCHEM) expects to report sales of 9.7bn pesos (US$769mn) in the third quarter of this year, up 26% on the same period in 2009.
Ebitda is forecast to reach 2.27bn pesos in Q3, a 28% increase year-on-year, the company said in its preliminary results release.
In dollar terms, sales and Ebitda rose 26% and 30%, respectively.
The growth in sales is attributed to a recovery in volume and prices, as well as the results of the incorporation of Ineos Fluor, which Mexichem acquired from UK-owned chemical company Ineos in March.
The hike in Ebitda is due to the synergies from the Ineos Fluor acquisition, strict cost control in raw materials and operating expenses, investments in automation and enhanced productivity, the statement said.
For January-September 2010, sales are expected to total 26.5bn pesos and Ebitda 6.16bn pesos, up 17% and 27%, respectively, on the prior-year period. In dollar terms, sales are equivalent to US$2.09bn and Ebitda US$485mn, both up 26%.
Brazilian petrochemical company Braskem (NYSE: BAK) has received proposals from four foreign companies, from the Americas, Asia and Europe, to install a sugarcane-based ethylene facility overseas, Braskem CEO Bernardo Gradin told journalists at Triunfo petrochemical hub in Rio Grande do Sul state, where the company recently began producing “green” polyethylene (PE).
“We have received four invitations from different countries to implement the same project, which could even use Brazilian ethanol,” Gradin said.
Braskem inaugurated a facility on September 24 that produces 200,000t/y of “green” ethylene, which in turn is fed into the company’s PE units to generate the same quantity of the bio-resin.
Gradin did not disclose the name of the companies due to confidentiality agreements, but stated that Braskem has also been contacted by other global players proposing partnerships to develop similar projects in Brazil.
The exact location of a new “green” ethylene facility is still being evaluated.
Stocks sank deeper into the red in late trading Wednesday, as a decline in financial stocks more than offset a boost in oil prices and energy stocks.
The Dow Jones Industrial Average lost 48 points, or 0.5%, to 10807, while the Standard & Poor’s 500-stock index shed six points to 1142 and the Nasdaq Composite dropped eight points to 2371.
Speculation that the Federal Reserve will take further steps to spur the economy has pushed the dollar lower in recent days. The U.S. Dollar Index, which measures the greenback against a basket of six currencies, hit its lowest level in eight months Wednesday.
Investors remained focused on any possible Fed action, as a small handful of Fed officials delivered speeches throughout the day.
Bethany Condra, 21, was wrapping up her junior year at the University of New Hampshire when disaster struck: She damaged her laptop beyond repair. With term papers and finals looming, her stepdad, a software developer, suggested she get Apple’s iPad instead—because, he said, it seemed “just the same as a laptop.” Condra took the plunge and dropped $500 on the tablet device.
A laptop it wasn’t. Condra enjoyed reading “The Canterbury Tales” in vivid color, complete with lifelike page flips—and she loved carrying a 1.5-pound tablet instead of a computer and a load of clunky textbooks. But typing notes on the touchscreen felt tar-pit slow. Condra had to buy a docking station (another $69) so she could type a Western civilization paper on a normal keyboard. And without a special “app” to connect the iPad to a printer, she had to e-mail that paper to herself and print it in the library. With senior year under way, Condra still isn’t fully committed. If note-taking st Read more…
Research In Motion (RIM) (Nasdaq: RIMM) has reached agreements with approximately half of Latin America’s operators to preinstall the Application World 2.0 version on its BlackBerry smartphones, Angel Aldana, RIM’s senior alliance solutions manager for Latin America, told BNamericas.
The company announced last week that Application World 2.0 was available in Latin America for paid applications, providing users access to a much broader range of apps. These apps can be purchased using credit card, PayPal and other pay mechanisms.
Agreements have been reached in Brazil with Vivo (NYSE: VIV) and Nextel but not with Claro or TIM.
In some cases it depends on whether operators already have their own white label app store, which is the case for Claro, of America Movil (NYSE: AMX).
RIM is seeking to prioritize applications that have local content, and applications that are seen to have a broad appeal are being translated into Spanish and Portuguese. For example, a fitness application that was popular in the US is being translated.