Huntsman said its second-quarter profit skyrocketed as a hefty legal settlement offset a steep drop in sales. For the period ended June 30, the company reported net income of $406 million compared with $24 million in the year-earlier period. The results were bolstered by a gain of $1.7 billion from a settlement earlier in the year with Deutsche Bank and Credit Suisse Group. Sales fell 36 % to $1.87 billion.
BASF sells a majority stake in its coatings business to the investor Carlyle.
Carbon black manufacturer Orion Engineered Carbons plans to rationalize production lines in North and South America and EMEA.
Novo Nordisk announced a global workforce reduction of approximately 9,000 positions to streamline operations and reinvest DKK 8 billion (€1 billion) in growth opportunities for diabetes and obesity treatments.
The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.
