U.S. Chemical Companies Seek The Right Formula For Portfolio Mix Through M&A Oct 07

  • ID: 1827743
  • October 2007
  • Region: United States
  • Standard & Poors
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  • Airgas Inc.
  • Celanese US Holdings LLC
  • Ecolab Inc.
  • Hercules Inc.
  • Lyondell Chemical Co.
  • Rohm and Haas Co.
  • MORE

In the past five years, the U.S. chemical sector had a significant number of moderate-size acquisitions and some larger deals. Through M&A activity, issuers also shed noncore or underperforming product lines, either to bolster earnings and operating margins or to raise cash to address a spike in borrowings after an acquisition. As companies strengthened business risk profiles and earnings, ratings benefited. But it hasn't been all good news. Some ratings suffered when companies adopted debt as the preferred method of funding large purchases. Yet this appetite for acquisitions--and the resulting reshaping of the companies' business profiles--isn't likely to stop. Standard & Poor's Ratings Services expects M&A to continue in the domestic chemical sector for several reasons: Certain domestic and European...

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- Air Products and Chemicals Inc.
- Ashland Inc.
- Hexion Inc.
- Cabot Corp.
- The Dow Chemical Co.
- DuPont (E.I.) De Nemours & Co.
- FMC Corp.
- General Electric Co.
- Hercules Inc.
- The Lubrizol Corp.
- PPG Industries Inc.
- Rohm and Haas Co.
- Koch Industries Inc.
- Terra Industries Inc.
- Sterling Chemicals Inc.
- Ecolab Inc.
- Lyondell Chemical Co.
- Axiall Corp.
- Praxair Inc.
- RPM International Inc.
- Eastman Chemical Co.
- Cytec Industries Inc.
- Westlake Chemical Corp.
- Airgas Inc.
- Wellman Inc.
- Equistar Chemicals L.P.
- Linde AG
- Chemtura Corp.
- OM Group Inc.
- Huntsman Corp.
- Chevron Phillips Chemical Co. LLC
- PolyOne Corp.
- LyondellBasell Industries AF S.C.A.
- Albemarle Corp.
- Fuller (H.B.) Co.
- Diversey Holdings Inc.
- Celanese US Holdings LLC
- Tronox Inc.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown




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