The document summarizes the outlook for the chemical market in 2010, noting some signs of recovery but also ongoing challenges. It discusses prospects for economic recovery led by emerging markets but high unemployment rates in developed nations. Company earnings improved in Q4 2009 versus the prior year. While credit markets have thawed somewhat, much of the chemical industry remains highly leveraged. Mergers and acquisitions are expected to continue in 2010 as companies seek to improve their positions.
Gelcoat Market Report: Trends, Forecast and Competitive AnalysisLucintel
Lucintel forecasts that the polyester gelcoat will remain the largest segment due to low cost and usage in wide application area. Epoxy gelcoat is expected to witness the highest growth in the forecast period supported by the growth of wind energy industry.#GelcoatMarket, #Gelcoat
1. The document discusses light tight oil and unconventional gas, noting that global gas resources represent over 250 years of current production levels thanks to unconventional gas spreading resources more evenly between regions.
2. It notes that companies employing horizontal drilling and hydraulic fracturing have targeted liquids-rich shales in the US, with light tight oil expected to grow production by 1.1 mb/d by 2016, cutting US imports.
3. Rolling back shale gas production would lead to a less secure and less sustainable energy system, with more trade dependence on conventional gas exporters and higher gas prices. Hydraulic fracturing can be done safely but requires following "golden rules" to maintain social acceptance.
The document discusses Dow's earnings power and financial profile going forward. It states that through cost savings, synergies from acquisitions, portfolio changes, and growth in higher-margin businesses, Dow expects to increase earnings per share from around $1.25 currently to over $10 by 2012. Dow achieved over $1 billion in cost savings in 2009 and integrated acquired companies while exceeding synergy targets. The company also divested over $3 billion in non-core assets and completed a strategic review to optimize its portfolio.
1) The document discusses the concept of sustainable community technology and the symbiotic relationship between community technology and community research.
2) It proposes a human-centered framework for community informatics that focuses on human purpose, cultural diversity, technology as a tool, and social cohesion.
3) Applying this framework involves understanding the interdependent components of community, communication, and technology and ensuring community needs and values guide technology design from the outset.
The document summarizes the outlook for the chemical industry in 2010, including expectations for recovery from the recession. It discusses trends in mergers and acquisitions as well as financing that may drive consolidation in the industry. Overall, signs point to a continued economic recovery, with growth in emerging markets, though high unemployment and other issues remain concerns. The financing market is starting to thaw, allowing more companies access to debt markets. Merger and acquisition activity is also expected to increase in 2010 after declining in 2008-2009.
This document provides an agenda and materials for a presentation on basic materials. It includes an overview of current holdings in Alcoa and Deere & Co, sub-industries in the materials sector, sector leaders, the macroeconomic outlook, and analyses of Deere, Alcoa, and the SPDR Gold Trust. Performance charts and potential risks are also discussed for each investment. The presentation aims to analyze materials companies and recommend positions.
Gelcoat Market Report: Trends, Forecast and Competitive AnalysisLucintel
Lucintel forecasts that the polyester gelcoat will remain the largest segment due to low cost and usage in wide application area. Epoxy gelcoat is expected to witness the highest growth in the forecast period supported by the growth of wind energy industry.#GelcoatMarket, #Gelcoat
1. The document discusses light tight oil and unconventional gas, noting that global gas resources represent over 250 years of current production levels thanks to unconventional gas spreading resources more evenly between regions.
2. It notes that companies employing horizontal drilling and hydraulic fracturing have targeted liquids-rich shales in the US, with light tight oil expected to grow production by 1.1 mb/d by 2016, cutting US imports.
3. Rolling back shale gas production would lead to a less secure and less sustainable energy system, with more trade dependence on conventional gas exporters and higher gas prices. Hydraulic fracturing can be done safely but requires following "golden rules" to maintain social acceptance.
The document discusses Dow's earnings power and financial profile going forward. It states that through cost savings, synergies from acquisitions, portfolio changes, and growth in higher-margin businesses, Dow expects to increase earnings per share from around $1.25 currently to over $10 by 2012. Dow achieved over $1 billion in cost savings in 2009 and integrated acquired companies while exceeding synergy targets. The company also divested over $3 billion in non-core assets and completed a strategic review to optimize its portfolio.
1) The document discusses the concept of sustainable community technology and the symbiotic relationship between community technology and community research.
2) It proposes a human-centered framework for community informatics that focuses on human purpose, cultural diversity, technology as a tool, and social cohesion.
3) Applying this framework involves understanding the interdependent components of community, communication, and technology and ensuring community needs and values guide technology design from the outset.
The document summarizes the outlook for the chemical industry in 2010, including expectations for recovery from the recession. It discusses trends in mergers and acquisitions as well as financing that may drive consolidation in the industry. Overall, signs point to a continued economic recovery, with growth in emerging markets, though high unemployment and other issues remain concerns. The financing market is starting to thaw, allowing more companies access to debt markets. Merger and acquisition activity is also expected to increase in 2010 after declining in 2008-2009.
This document provides an agenda and materials for a presentation on basic materials. It includes an overview of current holdings in Alcoa and Deere & Co, sub-industries in the materials sector, sector leaders, the macroeconomic outlook, and analyses of Deere, Alcoa, and the SPDR Gold Trust. Performance charts and potential risks are also discussed for each investment. The presentation aims to analyze materials companies and recommend positions.
This document summarizes a presentation given by Robert Bauman of Nexant/Chem Systems on the global plastics industry outlook. Some of the key points included are that the industry experienced a downturn in 2001 but recovery is expected starting in late 2002 and strengthening in 2003-2004. Ethylene and propylene capacity increases will not keep up with projected demand growth. China's economic growth and infrastructure spending for the 2008 Olympics will boost plastics demand. The Middle East is increasing ethylene capacity due to low ethane/propane feedstock costs. Tight supply conditions for some polymers are expected in 2004-2005 as capacity utilization rates rise.
The document provides an agenda and overview for a presentation on basic materials. It discusses current holdings in Alcoa and Deere & Co, sub-industries in the materials sector, sector leaders, and the macroeconomic outlook. It then provides more detailed analyses of Deere & Co and Alcoa, including financial performance, recent news, investment rationales, and recommendations to sell Alcoa. It concludes with an overview of the SPDR Gold Trust ETF and the case for gold as an investment.
Presentation To North American Fixed Income Investors 29 31 March 2010Rio Tinto plc
- The document is a presentation by Rio Tinto to North American fixed income investors in March 2010 providing an overview of the company, highlights from 2009, the economic outlook, and priorities for 2010.
- In 2009, Rio Tinto achieved cost savings, recovered prices in the second half, completed divestments, and reduced net debt significantly.
- For 2010, priorities include operational delivery, transforming the aluminum business, pursuing growth through disciplined capital spending, and prudent balance sheet management.
1. The document summarizes Magnesita's 1Q10 earnings conference call, highlighting increases in global steel and cement production, expanded refractory sales in Brazil and overseas, and improved financial results.
2. Magnesita announced 12 new contracts for its Cost-per-Performance (CPP) model in key markets like Brazil, US, Chile and UK. It also renegotiated debt with Bradesco and Itau-Unibanco extending maturities and lowering costs.
3. A joint venture was formed with Japanese refractory producer Krosaki to expand Magnesita's CPP model in North America without requiring significant investment.
Microsoft power point magnesita-apres_tele_eng_1t10Magnesita_ri
1. The document summarizes Magnesita's 1Q10 earnings conference call, noting a 4.4% increase in global steel production for the quarter. Revenue increased for refractories in Brazil, North America, and Europe.
2. Magnesita achieved successful expansion of its Cost-per-Performance contracts model in the US, Chile, UK, Ecuador, and the US in 1Q10. Gross profits and EBITDA increased compared to prior periods.
3. Management discussed a joint venture with Japanese refractory producer Krosaki to expand Magnesita's continuous casting business in North America without requiring significant investment. The call provided an overview of Magnesita's financial performance, capital markets activity,
Edition 332 of the long running weekly report by award winning boutique investment banking firm LCC Asia Pacific
This report covers both corporate developments and merger & acquisition activity in sector across Australia
The document provides an overview and summary of the energy storage sector. It details that there are currently 1576 companies in the sector that have received $11.4 billion in total funding. The top markets by investment are lithium-ion batteries, charging station networks, and wireless inductive charging electronics. Notable public and private companies mentioned include Bloom Energy, VARTA, Plug Power, and Voltabox.
The document provides market commentary and stock information for February 26, 2009. Key points:
- The S&P/TSX Composite advanced in Canada, while US indexes fell, amid concerns over increased regulation from President Obama's comments.
- Agrium proposed acquiring CF Industries for $3.6 billion to expand in the fertilizer market. CF shares surged on the news.
- Bankers Petroleum secured a $110 million credit facility from IFC and EBRD to develop its oil reserves in Albania.
Printing taiwan market forecast for electronic chemicalsUC Berkeley
The document summarizes trends in the electronic chemicals market in Taiwan and overseas from 1998-1999. It finds that the market grew significantly due to growth in downstream industries like integrated circuits and displays. Major players consolidated through mergers and partnerships to cope with increasing competition and costs. The use of chemicals shifted with technological changes like smaller device features and new materials like copper. The market became dominated by few large multinational firms and local companies partnered with research institutes to develop capabilities.
Welcome to the latest edition of our Weekly Engineering Market Research Update – Edition 501. This document aims to provide a comprehensive overview of the current trends, developments, and opportunities in the engineering industry. Our team of expert analysts has gathered valuable data and insights to keep you informed and empower you to make well-informed decisions in this rapidly evolving market.
Market Trends:
China’s dominance as an economic powerhouse continues to be reinforced by the slide in commodity prices as a result of slower than expected economic advancements still as a result of the post covid pandemic world.
In the past week, several noteworthy trends have emerged in the engineering sector. One significant trend is the increasing adoption of sustainable engineering practices. As environmental concerns continue to grow, companies are prioritizing eco-friendly solutions, such as renewable energy projects, green infrastructure, and circular economy initiatives. This presents an array of opportunities for businesses specializing in sustainable engineering services and products.
Another prominent trend is the integration of artificial intelligence and machine learning in engineering processes. From design optimization to predictive maintenance, AI is revolutionizing the way engineers approach complex challenges. Companies investing in AI technologies gain a competitive edge, streamlining operations, and enhancing productivity.
Opportunities and Challenges:
The current market landscape offers promising opportunities, particularly in the fields of urban development, smart infrastructure, and digital transformation. Additionally, government initiatives and increased funding for infrastructure projects are stimulating growth in the engineering sector.
However, it is essential to address the challenges too. Supply chain disruptions, skilled labor shortages, and fluctuating raw material prices pose potential hurdles for companies. Strategic planning and adaptability are crucial to navigate these uncertainties successfully.
BioJet is a leading supplier of sustainable jet fuel that has established a global supply chain network. It controls over 6.8 million hectares of land for feedstock production and has joint ventures for refining. BioJet aims to produce 24 million barrels of renewable jet fuel annually by 2017. It is seeking strategic partners and financing to expand production and meet growing demand from airline industry mandates for reduced carbon emissions.
Se Warehouse 2009.Bill Stankiewicz Phone 678.364.3475BillStankiewicz
Over view of Logistics by Southeastern Warehouse Association
Best Regards,
Bill Stankiewicz
Vice President and General Manager
Shippers Warehouse of Georgia
Office: 678-364-3475
Williams@shipperswarehouse.com
http://www.linkedin.com/in/billstankiewicz2006
http://www.slideshare.net/BillStankiewicz.
http://www.twitter.com/BillStankiewicz
Sustainable Consumer Packaged Goods member
CPG Branding and Forum Member
Please consider the environment before printing this e-mail
“Change doesn\'t start on the surface. It\'s generated from consciousness.”
Deepak Chopra
http://bill-stankiewicz.blogspot.com/2009/07/shippers-warehouse-in-top-70-food.html
Drivers in the minor metals market beyond 2020Neal Brewster
The minor metals markets represent significant investment opportunities but face challenges over the next decade from economic, sustainability, and consumer demand trends. Three main factors will influence these markets - the global economic outlook, sustainability concerns regarding costs and supply, and shifting consumer and end use trends. While global economic growth is expected to be modest in the near term, the world's population and developing economies provide opportunities for increased metals consumption. However, pressures are rising around improving sustainability in the mining sector, which could significantly impact supply. Both producers and customers will need to respond through improving industry returns, reducing pollution and impacts, creating socio-economic benefits, and minimizing resource use. Roskill consulting can provide in-depth analysis and support to leverage opportunities and address challenges
WSMM Media and Entertainment Feb_March_Final.pdfJamesConcepcion7
This document provides a sector spotlight and recap for February and March 2024. It discusses the current state of the box office, noting that full-year 2024 revenue is projected to be $8-8.4 billion before rebounding in 2025. It provides an update on the volatile sales process for Paramount Global, including rejected bids from Apollo Global Management and a tentative deal with Skydance. It also provides an overview of AMC Entertainment, including its large debt load, disappointing financials, and discussions around a potential debt restructuring.
Piedmont Lithium Ltd. (Nasdaq: PLL; ASX: PLL) holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.
- US and Asian stock futures fell and European stocks dropped as concerns over global growth and the outcome of Greece's debt swap weighed on sentiment.
- A report showed the eurozone economy contracted 0.3% in Q4 due to declines in investment, exports and consumer spending.
- Private investors holding about 20% of the bonds involved in Greece's debt restructuring have agreed to participate in the swap, which aims to reduce Greece's debt by 53.5%.
- Canadian stocks opened higher led by gains in financial and materials stocks, while US stocks were mixed as investors digested corporate earnings results ahead of US economic data later in the week.
- US and Asian stock futures fell and European stocks dropped as concerns over global growth and the outcome of Greece's debt swap weighed on sentiment.
- A report showed the eurozone economy contracted 0.3% in Q4 due to declines in investment, exports and consumer spending.
- Private investors holding about 20% of the bonds involved in Greece's debt restructuring have agreed to participate in the swap, which aims to reduce Greece's debt by 53.5%.
- Canadian stocks opened higher led by gains in financial and materials stocks, while US stocks were mixed as investors digested corporate earnings results and political uncertainty persisted.
Objective Capital's Industrial Metals, Minerals & Investment Summit 2010
London Chamber of Commerce and Industry
3 November 2010
Speaker: Sacha Backes, International Finance Corporation
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
More Related Content
Similar to ICIS Chemical Business' Joseph Chang presentation to the Societe/Racemics meeting in New York - Feb 17, 2010
This document summarizes a presentation given by Robert Bauman of Nexant/Chem Systems on the global plastics industry outlook. Some of the key points included are that the industry experienced a downturn in 2001 but recovery is expected starting in late 2002 and strengthening in 2003-2004. Ethylene and propylene capacity increases will not keep up with projected demand growth. China's economic growth and infrastructure spending for the 2008 Olympics will boost plastics demand. The Middle East is increasing ethylene capacity due to low ethane/propane feedstock costs. Tight supply conditions for some polymers are expected in 2004-2005 as capacity utilization rates rise.
The document provides an agenda and overview for a presentation on basic materials. It discusses current holdings in Alcoa and Deere & Co, sub-industries in the materials sector, sector leaders, and the macroeconomic outlook. It then provides more detailed analyses of Deere & Co and Alcoa, including financial performance, recent news, investment rationales, and recommendations to sell Alcoa. It concludes with an overview of the SPDR Gold Trust ETF and the case for gold as an investment.
Presentation To North American Fixed Income Investors 29 31 March 2010Rio Tinto plc
- The document is a presentation by Rio Tinto to North American fixed income investors in March 2010 providing an overview of the company, highlights from 2009, the economic outlook, and priorities for 2010.
- In 2009, Rio Tinto achieved cost savings, recovered prices in the second half, completed divestments, and reduced net debt significantly.
- For 2010, priorities include operational delivery, transforming the aluminum business, pursuing growth through disciplined capital spending, and prudent balance sheet management.
1. The document summarizes Magnesita's 1Q10 earnings conference call, highlighting increases in global steel and cement production, expanded refractory sales in Brazil and overseas, and improved financial results.
2. Magnesita announced 12 new contracts for its Cost-per-Performance (CPP) model in key markets like Brazil, US, Chile and UK. It also renegotiated debt with Bradesco and Itau-Unibanco extending maturities and lowering costs.
3. A joint venture was formed with Japanese refractory producer Krosaki to expand Magnesita's CPP model in North America without requiring significant investment.
Microsoft power point magnesita-apres_tele_eng_1t10Magnesita_ri
1. The document summarizes Magnesita's 1Q10 earnings conference call, noting a 4.4% increase in global steel production for the quarter. Revenue increased for refractories in Brazil, North America, and Europe.
2. Magnesita achieved successful expansion of its Cost-per-Performance contracts model in the US, Chile, UK, Ecuador, and the US in 1Q10. Gross profits and EBITDA increased compared to prior periods.
3. Management discussed a joint venture with Japanese refractory producer Krosaki to expand Magnesita's continuous casting business in North America without requiring significant investment. The call provided an overview of Magnesita's financial performance, capital markets activity,
Edition 332 of the long running weekly report by award winning boutique investment banking firm LCC Asia Pacific
This report covers both corporate developments and merger & acquisition activity in sector across Australia
The document provides an overview and summary of the energy storage sector. It details that there are currently 1576 companies in the sector that have received $11.4 billion in total funding. The top markets by investment are lithium-ion batteries, charging station networks, and wireless inductive charging electronics. Notable public and private companies mentioned include Bloom Energy, VARTA, Plug Power, and Voltabox.
The document provides market commentary and stock information for February 26, 2009. Key points:
- The S&P/TSX Composite advanced in Canada, while US indexes fell, amid concerns over increased regulation from President Obama's comments.
- Agrium proposed acquiring CF Industries for $3.6 billion to expand in the fertilizer market. CF shares surged on the news.
- Bankers Petroleum secured a $110 million credit facility from IFC and EBRD to develop its oil reserves in Albania.
Printing taiwan market forecast for electronic chemicalsUC Berkeley
The document summarizes trends in the electronic chemicals market in Taiwan and overseas from 1998-1999. It finds that the market grew significantly due to growth in downstream industries like integrated circuits and displays. Major players consolidated through mergers and partnerships to cope with increasing competition and costs. The use of chemicals shifted with technological changes like smaller device features and new materials like copper. The market became dominated by few large multinational firms and local companies partnered with research institutes to develop capabilities.
Welcome to the latest edition of our Weekly Engineering Market Research Update – Edition 501. This document aims to provide a comprehensive overview of the current trends, developments, and opportunities in the engineering industry. Our team of expert analysts has gathered valuable data and insights to keep you informed and empower you to make well-informed decisions in this rapidly evolving market.
Market Trends:
China’s dominance as an economic powerhouse continues to be reinforced by the slide in commodity prices as a result of slower than expected economic advancements still as a result of the post covid pandemic world.
In the past week, several noteworthy trends have emerged in the engineering sector. One significant trend is the increasing adoption of sustainable engineering practices. As environmental concerns continue to grow, companies are prioritizing eco-friendly solutions, such as renewable energy projects, green infrastructure, and circular economy initiatives. This presents an array of opportunities for businesses specializing in sustainable engineering services and products.
Another prominent trend is the integration of artificial intelligence and machine learning in engineering processes. From design optimization to predictive maintenance, AI is revolutionizing the way engineers approach complex challenges. Companies investing in AI technologies gain a competitive edge, streamlining operations, and enhancing productivity.
Opportunities and Challenges:
The current market landscape offers promising opportunities, particularly in the fields of urban development, smart infrastructure, and digital transformation. Additionally, government initiatives and increased funding for infrastructure projects are stimulating growth in the engineering sector.
However, it is essential to address the challenges too. Supply chain disruptions, skilled labor shortages, and fluctuating raw material prices pose potential hurdles for companies. Strategic planning and adaptability are crucial to navigate these uncertainties successfully.
BioJet is a leading supplier of sustainable jet fuel that has established a global supply chain network. It controls over 6.8 million hectares of land for feedstock production and has joint ventures for refining. BioJet aims to produce 24 million barrels of renewable jet fuel annually by 2017. It is seeking strategic partners and financing to expand production and meet growing demand from airline industry mandates for reduced carbon emissions.
Se Warehouse 2009.Bill Stankiewicz Phone 678.364.3475BillStankiewicz
Over view of Logistics by Southeastern Warehouse Association
Best Regards,
Bill Stankiewicz
Vice President and General Manager
Shippers Warehouse of Georgia
Office: 678-364-3475
Williams@shipperswarehouse.com
http://www.linkedin.com/in/billstankiewicz2006
http://www.slideshare.net/BillStankiewicz.
http://www.twitter.com/BillStankiewicz
Sustainable Consumer Packaged Goods member
CPG Branding and Forum Member
Please consider the environment before printing this e-mail
“Change doesn\'t start on the surface. It\'s generated from consciousness.”
Deepak Chopra
http://bill-stankiewicz.blogspot.com/2009/07/shippers-warehouse-in-top-70-food.html
Drivers in the minor metals market beyond 2020Neal Brewster
The minor metals markets represent significant investment opportunities but face challenges over the next decade from economic, sustainability, and consumer demand trends. Three main factors will influence these markets - the global economic outlook, sustainability concerns regarding costs and supply, and shifting consumer and end use trends. While global economic growth is expected to be modest in the near term, the world's population and developing economies provide opportunities for increased metals consumption. However, pressures are rising around improving sustainability in the mining sector, which could significantly impact supply. Both producers and customers will need to respond through improving industry returns, reducing pollution and impacts, creating socio-economic benefits, and minimizing resource use. Roskill consulting can provide in-depth analysis and support to leverage opportunities and address challenges
WSMM Media and Entertainment Feb_March_Final.pdfJamesConcepcion7
This document provides a sector spotlight and recap for February and March 2024. It discusses the current state of the box office, noting that full-year 2024 revenue is projected to be $8-8.4 billion before rebounding in 2025. It provides an update on the volatile sales process for Paramount Global, including rejected bids from Apollo Global Management and a tentative deal with Skydance. It also provides an overview of AMC Entertainment, including its large debt load, disappointing financials, and discussions around a potential debt restructuring.
Piedmont Lithium Ltd. (Nasdaq: PLL; ASX: PLL) holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the world-class Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.
- US and Asian stock futures fell and European stocks dropped as concerns over global growth and the outcome of Greece's debt swap weighed on sentiment.
- A report showed the eurozone economy contracted 0.3% in Q4 due to declines in investment, exports and consumer spending.
- Private investors holding about 20% of the bonds involved in Greece's debt restructuring have agreed to participate in the swap, which aims to reduce Greece's debt by 53.5%.
- Canadian stocks opened higher led by gains in financial and materials stocks, while US stocks were mixed as investors digested corporate earnings results ahead of US economic data later in the week.
- US and Asian stock futures fell and European stocks dropped as concerns over global growth and the outcome of Greece's debt swap weighed on sentiment.
- A report showed the eurozone economy contracted 0.3% in Q4 due to declines in investment, exports and consumer spending.
- Private investors holding about 20% of the bonds involved in Greece's debt restructuring have agreed to participate in the swap, which aims to reduce Greece's debt by 53.5%.
- Canadian stocks opened higher led by gains in financial and materials stocks, while US stocks were mixed as investors digested corporate earnings results and political uncertainty persisted.
Objective Capital's Industrial Metals, Minerals & Investment Summit 2010
London Chamber of Commerce and Industry
3 November 2010
Speaker: Sacha Backes, International Finance Corporation
Similar to ICIS Chemical Business' Joseph Chang presentation to the Societe/Racemics meeting in New York - Feb 17, 2010 (20)
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
3 Simple Steps To Buy Verified Payoneer Account In 2024SEOSMMEARTH
Buy Verified Payoneer Account: Quick and Secure Way to Receive Payments
Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
If You Want To More Information just Contact Now:
Skype: SEOSMMEARTH
Telegram: @seosmmearth
Gmail: seosmmearth@gmail.com
Company Valuation webinar series - Tuesday, 4 June 2024FelixPerez547899
This session provided an update as to the latest valuation data in the UK and then delved into a discussion on the upcoming election and the impacts on valuation. We finished, as always with a Q&A
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...my Pandit
Explore the fascinating world of the Gemini Zodiac Sign. Discover the unique personality traits, key dates, and horoscope insights of Gemini individuals. Learn how their sociable, communicative nature and boundless curiosity make them the dynamic explorers of the zodiac. Dive into the duality of the Gemini sign and understand their intellectual and adventurous spirit.
Unveiling the Dynamic Personalities, Key Dates, and Horoscope Insights: Gemin...
ICIS Chemical Business' Joseph Chang presentation to the Societe/Racemics meeting in New York - Feb 17, 2010
1. After the Crisis: What’s Next? Chemical Market Outlook for 2010 Joseph Chang Global Editor Societe de Chimie Industrielle, New York February 17, 2010
2. V- or W-shaped Recovery? The New Volkswagen (VW) Syndrome
8. *As of the close of February 9, 2010 Source: Yahoo! Finance, ICIS Chemical Business Wall Street Crystal Ball 2010 Majors/Diversified 2009 EPS E2010 EPS % Change Stock price* P/E (2010) Dow Chemical $0.59 $1.48 +151% $27.79 18.8x DuPont $2.02 $2.35 +16% $32.47 13.8x Celanese $1.69 $2.76 +63% $29.94 10.8x Eastman Chemical $2.54 $3.49 +37% $57.86 16.6x Specialties E2009 EPS E2010 EPS % Change Stock price* P/E (2010) Nalco $0.89 $1.36 +53% $21.98 16.2x Cytec Industries $1.32 $2.21 +67% $37.62 17.0x PPG Industries $2.93 $3.86 +32% $59.16 15.8x FMC $4.15 $4.62 +11% $54.91 11.9x Albemarle $1.90 $2.62 +38% $35.32 13.5x Arch Chemical $1.86 $2.00 +8% $27.99 14.0x Lubrizol $7.55 $7.78 +3% $71.62 9.2x AVERAGE 14.3x
9. A Tale of Two Cities This aerial photograph of the ‘Paradise City’ area of San Paulo, Brazil, illustrates the division between rich and poor in the world in a way rarely seen so starkly in photographs – compare the sizes, shades and textures of what you see – could anything be more different? Click here for even more incredible rich/poor divides .
12. Grade A Credits Source: Standard & Poor’s Company Rating Monsanto A+, Stable Air Products A, Stable Praxair A, Stable Sigma-Aldrich A, Stable Ecolab A, Stable DuPont A, Negative Sherwin-Williams A-, Positive PotashCorp A-, Negative FMC BBB+, Stable Cabot BBB+, Stable PPG Industries BBB+, Negative
18. Joseph Chang Global Editor 360 Park Avenue South New York, NY 10010 (212) 791-4224 [email_address] Thank you!
Editor's Notes
Thank you for the invitation once again. It’s a pleasure to be speaking with Rob and Peter – always interesting to get different perspectives, especially during these very interesting times. A year ago today, it was a very chaotic situation. The global financial system was on the verge of collapse and bankruptcies abounded. The chemical industry was getting hit hard, and companies were scrambling to refinance their debt.
But since then, the global economy has come back from the brink, demand has stabilized, and stock prices have made a comeback, anticipating a further improvement in business. So what’s next? Are we well on our way to a V-shaped recovery, or could we be on the brink of another downturn – the second leg down in a W-shaped recovery? Interesting to note that the debate is definitely about a recovery – just in what form. The latest comes from Dow Chemical CEO Andrew Liveris, an Australian native who’s now coined the term “Lazy-V” in describing the current economic recovery. What’s a Lazy V? Kudos to BB&T analyst Frank Mitsch for the translation – It’s “Aussie for moderate growth” – or slow, steady progress.
Now I had thought I may have coined a clever phrase with “Volkswagen Syndrome” describing the debate about a V- or W-shaped recovery. But some of you might have heard this term before. Upon further research… here’s what I found. Now bear with me guys! The term “Yellow Volkswagen Syndrome” describes the phenomenon of when bringing something to mind seems to bring it into your field of vision, and often. So say if you’re driving on the road and look out for Yellow Volkswagens, you’ll notice there are a lot more of them. And in the 2 nd instance, the “Volkswagen Syndrome” is apparently a dated metaphor for “when scientists make assumptions about similarity based only on appearance.” This stems from the Volkswagen Beetle coming out with the same shape year after year from the 1940s to 1970s, despite major changes under the hood. Looks the same, but it’s different! Isn’t Google wonderful? You may have noticed I got this second one from something called “Intimate Strangers” – but it’s not what you think. It’s actually a scientific book about microbes. Now I think both metaphors can be applied to the debate about today’s economy. In the first instance – the “Yellow Volkswagen Syndrome” - because we’re looking for signs of recovery, we notice they are everywhere – or at least more apparent. Not that there’s isn’t real fundamental improvement, but we’re going to notice it more. That’s part of what’s driven the stock market off its lows. In the second instance – the “Volkswagen Syndrome” – where things might look the same but are fundamentally different, that also applies. How different will this recovery be? Still open to debate, but let’s take look under the hood.
Here’s a chart of the ICIS Petrochemical Index, or IPEX, showing a V-shaped recovery in petrochemical prices worldwide – from North America to Europe to Asia. Here you can see the absolute collapse in Q4 2008 as demand fell off a cliff and there was massive inventory destocking. But starting in March 2009, the IPEX posted 7 consecutive quarters of gains, before falling a bit in October. The latest February figures show a gain of 7.8%, bringing the index to 275.63, within 13 points of pre-recession levels in November 2008. The February gain was led by benzene worldwide, and butadiene in Asia.
Here’s a chart from American Chemistry Council chief economist Kevin Swift – looking at Global Industrial Production, as well as something called the OECD CLI + 6. What is the OECD CLI + 6? Well it’s a composite leading indicator for developed nations, plus a group of 6 developing countries, including Brazil, China, India and Russia. This leading indicators is focused on industrial activity and designed to provide early signals of major turning points between expansions and slowdowns. You can see that the OECD+6 is flagging a strong V-shaped recovery for global industrial activity.
There are several other factors pointing to a sustainable recovery for the chemical industry. Major economies are coming back, with growth being led by the BRIC countries once again – mainly China, India and Brazil. In the US, the still weak dollar is providing a boon to exports as well as the profitability of US multinationals that have significant sales abroad. On the negative side, unemployment is high in Western nations. In the US we’re at 9.7% with little signs of relief. Plus there are lingering concerns about commercial real estate defaults. The latest worries today revolve around the sovereign debt crisis in Greece, and whether this could spread to other European countries. Plus we have probably the most talked about question – Will the Chinese government’s efforts to put the brakes on credit expansion hurt the global recovery? It has already prompted banks to curb lending, and it could also raise interest rates.
Now let’s take a look at the latest Q4 2009 earnings results for some major US chemical companies. Most reversed losses from a devastating Q4 2008 - very easy comps. Most beat Wall Street expectations, but CEOs were still cautious on earnings prospects going forward. DuPont posted profits on 10% higher sales and volumes, driven by Asia. Volumes were up 34 in Asia-Pacific, and exceeded pre-recession levels. Sequentially versus Q3, volumes gained 8%. DuPont also raised its 2010 earnings guidance. Dow Chemical also posted a profit, and volumes were also up 10% year over year. Reflecting similar trends, emerging markets volumes surged 33% with China up 57%. Sequential volumes gained in all geographic areas except North America, where they were down 1%. Dow CEO Liveris expects the US and Europe to lag the recovery as high unemployment persists. Eastman had a blowout Q4, and the CEO expects 2010 earnings to come in 20% ahead of 2009. PPG Industries and Celanese also did well. While year-over-year volumes were up in Q4, they still have not recovered to pre-recession levels. Last year, Q4 volumes were off 20% or more across the board.
Now let’s look at earnings forecasts for 2010. Here is a list of projected EPS for the publicly-traded US chemical companies from Wall Street analysts. Just about across the board analysts expect earnings to recover strongly in 2010 over 2009 levels. The industry has been subject to volatile swings as 2009 profits will fall dramatically from 2008 levels. Profits will rebound sharply in 2010, but we won’t be back to 2008 levels yet. Stock prices have rallied sharply off their March lows. If you look at the valuations based on expected 2010 earnings, the sector looks pretty fairly valued at a P/E ratio of about 14x. There could be further upside, especially as 2010 is not considered mid-cycle, but there fewer screaming bargains.
Even though the earnings outlook is on the up and up for everyone, there is a real dichotomy in the chemical industry today – it is truly a Tale of Two Cities. On the one hand, you have companies that overleveraged themselves through the heyday of M&A and LBOs. Some declared bankruptcy and are restructuring, and others were forced to renegotiate with their lenders, potentially kicking the problem down the road. On the other hand, you have companies that have come through the downturn with solid cash flows and strong balance sheets. This group is fully prepared to capitalize on growth opportunities.
Because we’ve had such a frenzy of LBOs in the past decade, today there are many more highly leveraged companies than in the past. According to John Rogers, the head of the chemical group at credit ratings agency Moody’s, out of 70 North American chemical companies under coverage, a full 2/3rds are in the junk category – this compares to less than 1/3 at the end of 2001. And Standard & Poor’s downgraded the credit ratings of around 28 companies in 2009 versus only 6 upgrades. Most happened in the first half of the year. Today, there are 30 companies out of 65 in the single B or CCC categories – this indicates very high leverage. Last year leveraged companies with debt coming due had 3 escape options – 1. declare bankruptcy, like LyondellBasell, Chemtura and Tronox, 2. sell out, as NOVA did to the Abu Dhabi investment fund, or 3. Strike a deal with lenders to swap debt for equity or renegotiate terms. Last year, Georgia Gulf did a debt-for-equity swap, while INEOS renegotiated debt terms. Hexion also recently refinanced and extended debt terms. These amend-and-extend terms may just be kicking the ball down the road. Companies will eventually have to deal with their overleveraged balance sheets.
Here’s a list of some “Vintage” chemical LBOs. These companies are all highly leveraged. For a company to be considered highly leveraged, it typically has a debt/EBITDA ratio of at least 4.5x. These stats are from S&P back in 2008. Couldn’t get an update from S&P – but you can be sure these leverage ratios are much, much higher today. Interesting to note that Kraton Polymers, owned by Texas Pacific Group, was able to go public through an IPO in December 2009.
But it looks a lot better for a select group of companies. These are the ones with A, and close to A-rated rated balance sheets. Companies like DuPont, Air Products, Praxair, Monsanto, PotashCorp, PPG Industries and FMC have the pick of the litter when it comes to acquisition opportunities. Already we’ve seen Air Products make a $7bn hostile bid for Airgas – and financing for the deal? All arranged by JPMorgan - No problem!
And speaking of financing, let’s take a look at the financing market. In the good ol’ days of 2007, just about anyone could borrow money at decent rates. But no longer. The investment-grade companies with strong balance sheets are able to borrow money where most junk-rated companies are not. You’d think that would be a no-brainer – but it really has not always been the case. In past downcycles, even leveraged companies were able to have access to credit and refinance, even as credit quality went down. But it really has been different this time around.
Let’s take a look back at debt issuance through the first 3 quarters of 2009. The year started off slowly, with Lubrizol kicking things off. But they paid a much higher rate to refinance at that time - almost 9% versus its previous rate of 4.625% on $500m in debt. By August, the financing market had recovered further. Dow, Olin, Air Products and Praxair came to market. September saw more offerings at low rates. The commonality between all these debt issuers? Every single one is was rated investment-grade.
But since the third quarter of 2009, the high yield market has started to come back! In October, Solutia issued $400m in debt, becoming the first high-yield chemical company in North America to do so in well over a year. NOVA Chemicals also raised $700m in debt. Now that could have been considered an exceptional case because it’s owned and supported by the Abu Dhabi government fund IPIC. But in November, Koppers came to market with $300m in notes, and then in December, Georgia Gulf issued $500m in debt.
So an improved financing market has major implications for mergers and acquisitions. I won’t dwell too long on this, as Peter’s presentation will give much more detail. But For 2010, M&A activity is poised to rebound as business conditions have recovered and confidence has returned. Players are coming back to the table.
While in 2009, buyers were predominantly looking for distressed bargains, they are now seeking acquisitions for growth. And where growth opportunities are limited, some companies may force the issue on M&A. Last week you saw Air Products launching a hostile bid to buy Airgas for $60/share, or $5.1bn. With the assumption of debt, the offer is valued at $7bn. Shares of Airgas are trading above the $60 offer, indicating that investors expect Air Products to boost its bid to get the deal done. Plus, you’ve seen a number of buyers in emerging countries looking to buy Western assets. Brazil’s Braskem has agreed to buy Sunoco’s polypropylene business for $350m and says it will look for more deals in the US. Mexichem has agreed to buy INEOS Fluor – the fluorochemical operations of INEOS with plants in North America and Europe. And South Korea’s Lotte Chemical has bought the Artenius PTA and PET assets in the UK from La Seda. And Reliance is still weighing options to buy LyondellBasell after a US bankruptcy court ruled that Lyondell could pursue its own restructuring plan. So no doubt you will see lots more M&A activity in 2010.