) Petroleum Additives business has increased the price of its
Naugalube ADPA products including Naugalube 438L, Naugalube 640,
Naugalube 680 and Naugalube 750 by 50 cents per kilo. The price
hike is effective Sep 15, 2013, or as per the contracts. This
increase is a compensatory action against the cost increases.
Chemtura's Naugalube greener technologies include Naugalube
antioxidants and Naugalube friction modifiers. Naugalube
antioxidants have prolonged lubricant life property and help in
reducing automotive emissions. Naugalube friction modifiers
help minimize fuel consumption in automobiles, helping
automakers achieve the number of miles per gallon. Naugalube
friction modifiers are also used in engine oils globally.
Chemtura Petroleum Additives business unit supplies
lubricant additives, fuel additives, synthetic basestocks and
synthetic finished lubricants that are used in a wide range of
applications and industries including automotive industry,
power generation, aviation and certain niches in the industrial
market such as refrigeration and grease.
Chemtura came out with its second-quarter 2013 results on
Jul 30. The company reported a net income from continuing
operation of $47 million or 47 cents a share compared with a
profit of $53 million or 53 cents a share a year ago. Adjusted
earnings from continuing operation of 40 cents per share
surpassed the Zacks Consensus Estimate of 37 cents.
Revenues went down roughly 1% year over year to $735 million
in the quarter and were in line with the Zacks Consensus
Estimate. Lower selling prices and unfavorable foreign currency
translation affected revenues in the quarter.
Chemtura expects its Industrial Performance Products,
Consumer Products and Chemtura AgroSolutions segments to
continue their improved performance trends in the second half
of 2013. Chemtura further expects demand for insulation foam
and electronics applications to improve in 2013.
Chemtura currently carries a Zacks Rank #4 (Sell).
Other companies in the specialty chemicals industry with
favorable Zacks Rank are
Minerals Technologies Inc.
Sensient Technologies Corp.
). While Ferro Corp. holds a Zacks Rank #1 (Strong Buy),
both Minerals Technologies and Sensient Technologies retain a
Zacks Rank #2 (Buy).
CHEMTURA CORP (CHMT): Free Stock Analysis
FERRO CORP (FOE): Free Stock Analysis Report
MINERAL TECH (MTX): Free Stock Analysis
SENSIENT TECH (SXT): Free Stock Analysis
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