axiall corp (AXLL) Key Developments
Axiall Seeks Buyer For Aromatics Business
Jun 18 15
Axiall Corporation (NYSE:AXLL) is advancing on plans to divest its aromatics business, with potential buyers expected to indicate their interest later this month.
Axiall Corporation - Shareholder/Analyst Call
Jun 17 15
To discuss the revised joint venture arrangements with Lotte Chemical Corporation and other business developments
Axiall and Lotte Chemical Finalize Joint-Venture Arrangements
Jun 17 15
Axiall Corporation and Lotte Chemical Corporation of the Republic of Korea announced that the companies have finalized their joint-venture arrangements to construct an ethane cracker. The final investment decision remains subject to approval by both companies’ boards of directors. The companies have formed LACC LLC to design, build and operate an ethane cracker in Louisiana that would produce approximately one million metric tons of ethylene annually once it commenced operation. Since announcing their intent to partner on the project in February 2014, Axiall and Lotte have also completed a joint FEED study for the plant. The two are now evaluating final project details, including site selection, which is anticipated in Lake Charles, La. A final investment decision is anticipated in the second half of 2015. If approved, the plant’s anticipated start-up would be the end of 2018. If approved by Lotte’s Board of Directors, Lotte Chemical also plans to build a monoethylene glycol (MEG) plant adjacent to the proposed cracker. Axiall would not have any investment in or ownership of that MEG plant. Financial terms of the joint venture call for Lotte to lead the project with Axiall having a maximum capital contribution obligation of $225 million towards the cracker during the engineering, procurement and construction phases of the project. The amount of Axiall’s capital contribution relative to the total, actual cost of constructing the cracker would determine the amount of ownership Axiall holds in the cracker.
Axiall Corporation Seeks Acquisitions
May 26 15
Axiall Corporation (NYSE:AXLL) announced that the company examining strategic alternatives for the Aromatics business. It added that the Board of Directors should undertake a more substantial strategic review encompassing the potential sale of all or parts of the company, its capital allocation plans, cost structure, and the possible replacement of senior management.
Axiall Corporation Presents at Barclays High Yield Bond and Syndicated Loan Conference, Jun-11-2015 11:30 AM
May 22 15
Axiall Corporation Presents at Barclays High Yield Bond and Syndicated Loan Conference, Jun-11-2015 11:30 AM. Venue: The Broadmoor Hotel, 1 Lake Avenue, Colorado Springs, Colorado, United States. Speakers: Gregory C. Thompson, Chief Financial Officer and Principal Accounting Officer.