Company
Elementis plc
LON:ELM
Elementis plc is a specialty chemicals company comprising three businesses: Specialty Products, Surfactants and Chromium. Elementis Specialties is a manufacturer of specialty additives.
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Elementis back in play on reports of bid approach from Innospec
Sky’s sources suggested that a cash plus shares offer worth more than 200p a share is on the table.
Elementis rejects improved offer from US group Minerals Technologies
Minerals Technologies said it is “currently considering its position” but “there can be no certainty that any firm offer will be made”
Elementis jumps as it rejects takeover approach from US firm Minerals Technologies
The chemicals firm said the 107p per share cash offer, originally proposed on November 5, "significantly undervalued" its prospects
Elementis slips as coronavirus pandemic continues to weigh on trading
For the three months to September 30, 2020, the chemicals firm said volumes in the period were down 13% year-on-year, with declines in its personal care, talc, chromium and energy divisions offsetting an in-line performance from its coating
Elementis extends borrowings leeway as trading remains uncertain
Net debt at the half-year was US$453mln, but Elementis said today that number was expected to reduce significantly over the second half of 2020
Elementis a ‘buy’ again for Jefferies over debt reduction prospects
The investment bank's analysts were surprised by the harsh share price reaction after recent better than feared interim results
Elementis sales tumble 15% in April after solid first quarter
The company's 22 sites continue to “operate well” with no shortage of raw materials
Elementis suspends dividend as precaution even though trading on track
Current liquidity is US$300m, Elementis said, which is immediately available while net debt at the end of December was US$454mln.
Elementis financial results note “strategic progress” amid challenging markets
It comes after January's profit warning, triggered by deterioration in two "cyclically exposed" business units.
Elementis warns on profits after ‘somewhat subdued’ trading
Chromium outside of the US has been particularly weak, while rig usage has dropped by 25 in the US
Elementis eyes better talc performance in second half
While the talc business is expected to improve in the second half, chromium will remain “broadly in line” with the first half and energy will decline “significantly”
Investments and investor services
FTSE 100 closes lower but BP top gainer after Q2 results beat expectations
The FTSE 100 index closed 39.84 points lower on the day at 7,646, while the midcap FTSE 250 index plunged almost 112 points to close at 19,774
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