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$CBT elected Cynthia Arnold to its BoD, effective Jan. 18, 2018. She was also appointed a member of the Compensation Committee. $CBT elected Sue Rataj as Non-Executive Chair of the Board of Directors, effective March 9, 2018. $CBT said Roderick MacLeod will retire from the Board, effective at annual meeting that will be held on March 8, 2018.
$ALB said Matt Juneau, EVP, Corporate Strategy & Investor Relations, is retiring from the company in March 2018 and that it has named Eric Norris as its chief strategy officer, effective immediately. As chief strategy officer, Norris will be responsible for both Corporate Strategy and Investor Relations.
$WDFC said it is looking for net sales between $396MM and 403MM for fiscal 2018, representing a 4-6% YoY increase. Full year net income is expected to be in the range of $54.4MM to $55.3MM, and earnings per share between $3.91 and $3.98. The company anticipates to register gross margin of 56% in 2018.
Favorable currency exchange rates and strong demand for its maintenance products pushed up $WDFC’s sales 9% to $98MM in 1Q18. The topline growth translated into a 7% annual increase in net profit to $12.6MM or $0.90 per share. Sales increased across all geographical segments, with EMEA registering a 16% gain.
$CF announced early tender results of the tender offer by its subsidiary CF Industries Inc. (CFI) to buy for cash CFI's 7.125% senior notes due 2020 and the increase by CFI in maximum aggregate of notes subject to tender offer from $200MM to $299.98MM. The aggregate of the notes that were validly tendered and not validly withdrawn is $565.92MM.
$ALB is launching a new technology for the Fluid Catalytic Cracking catalyst market called Granite. The Granite technology platform is based on a novel matrix/binder system, which expands the catalyst formulation window and enables refiners to maximize profitability while achieving targeted product yields.
Global specialty chemicals industry leader $ALB said it has signed a definitive agreement to sell its polyolefin catalysts and components business to $GRA in cash for approx. $416MM. The organometallics and curatives portions of the Performance Catalysts Solutions business will remain with $ALB. The deal is expected to close during 1Q18.
$ALB is looking to leverage the strong demand for its products to overcome the negative impact of hurricane, and to meet its long-term growth target. The company expects to generate about 40% margin from the lithium business in the second half of 2018. Albemarle is also working on strategies to maintain a healthy working capital, going forward.