The Dow Chemical Company (NYSE:DOW) announced that a fully owned subsidiary of EQUATE Petrochemical Company – MEGlobal has chosen Dow Meteor Ethylene Oxide/Ethylene Glycol (EO/EG) Process Technology and Meteor Eo-Retro Catalyst to build its monoethylene glycol (MEG) production facility on the U.S. Gulf Coast – MEGlobal’s first MEG facility in the U.S. This 700 kta MEG production facility is expected to begin operations in mid 2019.
The Meteor Technology requires lesser capital and energy cost, delivering high efficiency of raw materials at the same time. It also provides outstanding operational reliability and inherent safety and environmental features. It is a leading catalyst technology for world-scale EO/EG manufacturing facilities.
Dow has licensed Meteor Technology for plants around the globe with capacities to produce about 4.5 million metric tons of ethylene oxide equivalents annually.
Dow continued its positive surprise streak with a solid earnings beat in first-quarter 2016. The U.S. chemical giant registered adjusted earnings of 89 cents per share for the quarter that outstripped the Zacks Consensus Estimate of 83 cents. The results were driven by strong margins, aided by the company’s cost-management actions.
The company expects sustained momentum in consumer-driven end markets. Demand in North America is expected to be strong while a recovery is projected in Europe and China for Dow’s innovative and unique products.
Dow Chemical carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the chemical space include Albemarle Corp. (NYSE:ALB) , Axiall Corporation (NYSE:AXLL) and Huntsman Corporation (NYSE:HUN) , all sporting a Zacks Rank #1 (Strong Buy).
DOW CHEMICAL (DOW): Free Stock Analysis Report
ALBEMARLE CORP (ALB): Free Stock Analysis Report
HUNTSMAN CORP (HUN): Free Stock Analysis Report
AXIALL CORP (AXLL): Free Stock Analysis Report
Original post
Zacks Investment Research