Increased Demand for Safer, Cost Effective Hydrogen Based Fuels for a More Productive Replacement to Acetylene Related Products Driving Near-Future Growth Opportunities
October 20, 2015 at 08:45 AM EDT
CORAL SPRINGS, Florida, October 20, 2015 /PRNewswire/ --
Basic Materials companies ramp up operations for development & production of industrial and commercial specialty gases, waste to hydrogen based fuels by offering advanced & patent pending products resulting in creating new opportunities for purposes of expanding and growing revenue possibilities. Leading basic materials companies with developments and news in the sector are MagneGas Corporation (NASDAQ: MNGA), Praxair, Inc. (NYSE: PX), Air Products & Chemicals Inc. (NYSE: APD), Celanese Corporation (NYSE: CE) & Airgas Inc. (NYSE:ARG)
MagneGas Corporation (NASDAQ: MNGA) a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2® fuel, announced today that due to growing demand for MagneGas2® fuel that had created a substantial backlog, a second production facility will be brought online this week. The second production unit is expected to fulfill the increased demand and the company plans to have a third unit in operation in early 2016 to handle the continued expected high demand for its MagneGas2® industrial fuel. The Company believes the additional demand is a direct result of its sales penetration into key vertical market segments including utilities, demolition companies, first responder markets as well as government and military sectors. The Company has also aggressively worked to expand its distribution network and in-house sales and marketing programs.
Read the full MNGA Press Release at http://www.financialnewsmedia.com/profiles/mnga.html
MagneGas2® has consistently received positive feedback from end users for its advantages over acetylene. Industries ranging from demolition companies, utility companies, first responders and fabricators have been praising and ordering MagneGas2® because of its proven faster cutting speed, demonstrated safety attributes, eco-friendly aspects, smaller heat affected zone and lower cost. In addition, MagneGas2® is produced in the USA versus acetylene which is made from calcium carbide imported primarily from China and other countries. "We continue to be very pleased with the positive feedback received from customers and distributors regarding MagneGas2®. The product is a faster cutting fuel, which offers our customers numerous other savings from increased flexibility, smaller heat affected zone, reduced grinding and ability to cut layered and complex steel like no other fuel on the market. We look forward to seeing the impact of these new facilities on revenue in the coming months as we continue to expand nationwide. A third facility is under construction and is expected to be operational in early 2016 as the Company moves into its new headquarters." commented Ermanno Santilli, CEO, MagneGas Corporation.
In other industrial chemical/gases & basic materials announcements and developments: Praxair, Inc. (NYSE: PX) announced that it will upgrade its air separation liquefaction capabilities in the Salt Lake City, Utah area to meet demand in the region. A new liquefier will be added to Praxair's plant, which will nearly double the production of both liquid nitrogen and liquid oxygen. The project is expected to be completed in the first quarter of 2017. This additional liquid capacity will serve the growing requirement of customers across a variety of end-markets, including food, aerospace and refining.
Air Products' (NYSE: APD) Materials Technologies segment will launch InuMax Advanced Retinol Cosmetic Active, a novel solution for high-load retinol delivery, at the Society of Cosmetic Chemists (SCC) California Chapter Suppliers Day tradeshow in Long Beach, California, on October 14-15. This unique offering is based on Air Products' newly developed InuMax technology, designed specifically to demonstrate excellent ingredient delivery and stability performance where higher-actives loads are preferred. Retinol is among the most well-known and well-studied cosmetic ingredients available to formulators designing anti-aging products. Consumers have come to trust retinol as a solution to improve the appearance of their skin. Increasingly, brands are differentiating their products through retinol use-level claims, such as "Contains 0.3% Retinol" in Europe or "Contains 1% Retinol" in the United States. Such claims are particularly important for products targeting the professional, spa, and dermatological markets in order to reinforce their clinical, high-performing nature.
Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today reported third quarter 2015 adjusted earnings per share of $1.50. The company's strong earnings result reflected continued focus on opportunities to serve key markets while also driving efficiency throughout our complementary cores. During the quarter, the company also made progress on a number of strategic initiatives while also setting several performance records including he company completed construction and began methanol production at its 1.3 million ton production unit in Clear Lake, Texas, a joint venture between Celanese and Mitsui & Co., Ltd., of Tokyo, Japan, in October 2015. "I am incredibly proud of the team at Clear Lake for their commitment and tireless efforts to complete construction and begin production at the methanol unit. This strategic investment provides us with certain supply of a critical raw material, allowing us to capture the economic benefit of abundant low cost U.S. natural gas," said Mark Rohr, chairman and chief executive officer. "By leveraging existing infrastructure and executing an aggressive project plan, we completed the methanol unit and reached full operating rates in only 21 months at a capital cost of under $700 per ton, an impressive accomplishment and testament to our ability to execute on our strategic goals."
Brokerage firm Susquehanna Maintains its rating on Airgas (NYSE:ARG). As per the latest information, Susquehanna Lowers the price target to $95.00 per share from a prior target of $99.00. The shares have been rated Neutral. The rating by Susquehanna was issued on Oct 7, 2015. Currently the company Insiders own 9.3% of Airgas, Inc. Company shares. In the past six months, there is a change of -1.02% in the total insider ownership. Institutional Investors own 81.5% of Company shares. During last 3 month period, -2.37% of total institutional ownership has changed in the company shares. Source: http://newswatchinternational.com/news/susquehanna-maintains-airgas-arg-to-neutral-with-price-target-95-00.html
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