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Sumitomo Chemical Co Ltd (4005.T)

4005.T on Tokyo Stock Exchange

347JPY
6 Aug 2020
Change (% chg)

¥3 (+0.87%)
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¥344
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11,202,700
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¥524
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¥267

Latest Key Developments (Source: Significant Developments)

Meridian Energy Says Rio Tinto To Terminate Contract Relating To Smelter
Thursday, 9 Jul 2020 

July 9 (Reuters) - Meridian Energy Ltd ::RIO TINTO GIVES CONTRACT TERMINATION NOTICE TO MERIDIAN.RIO TINTO HAVE INDICATED THAT AT THIS DATE WIND-DOWN OF OPERATIONS IS EXPECTED TO COMPLETE AND SMELTER WILL EVENTUALLY CLOSE.CONFIRMED THAT RIO TINTO HAS GIVEN NOTICE THAT IT WILL BE TERMINATING CONTRACT RELATING TO SMELTER.REVIEWING DECISION & WILL ENGAGE WITH RIO TINTO TO ASSIST SMELTER OWNERS IN AN ORDERLY EXIT FROM NEW ZEALAND.CONFIRMS RIO TINTO, OWNER OF TIWAI POINT ALUMINIUM SMELTER, HAS GIVEN NOTICE IT WILL BE TERMINATING CONTRACT RELATING TO SMELTER.RIO TINTO, WILL BE TERMINATING CONTRACT RELATING TO SMELTER WITH EFFECT ON AND FROM 31 AUGUST 2021.  Full Article

Nufarm Completes Sale Of South American Businesses
Wednesday, 1 Apr 2020 

April 1 (Reuters) - Nufarm Ltd::SALE OF SOUTH AMERICAN CROP PROTECTION, SEED TREATMENT OPERATIONS IN BRAZIL, ARGENTINA, COLOMBIA AND CHILE TO SUMITOMO CHEMICAL.  Full Article

Conagen Receives A Strategic Investment From Sumitomo Chemical
Wednesday, 1 Apr 2020 

March 31 (Reuters) - Conagen :* CONAGEN RECEIVES A STRATEGIC INVESTMENT FROM SUMITOMO CHEMICAL.  Full Article

Meridian Energy Says Rio Tinto Intends To Initiate A Strategic Review Of NZAS
Wednesday, 23 Oct 2019 

Oct 23 (Reuters) - Meridian Energy Ltd ::SMELTER OWNER RIO TINTO INITIATES STRATEGIC REVIEW.RIO TINTO HAS ADVISED MERIDIAN THAT IT WILL PROVIDE MARKET WITH AN UPDATE ON STRATEGIC REVIEW BY END OF Q1 IN 2020.RIO TINTO INTENDS TO INITIATE A STRATEGIC REVIEW OF NEW ZEALAND ALUMINIUM SMELTERS.REVIEW WILL CONSIDER ALL OPTIONS FOR FUTURE OF SMELTER, INCLUDING OPTION OF CLOSURE.ELECTRICITY CONTRACT BETWEEN CO& NZAS ALLOWS FOR FULL TERMINATION OR FOR NZAS TO REDUCE CONSUMPTION FROM 572MW TO 400MW.ADVISED BY NEW ZEALAND ALUMINIUM SMELTERS MAJOR SHAREHOLDER RIO TINTO, THAT THEY INTEND TO INITIATE A STRATEGIC REVIEW OF SMELTER.REMAIN OPEN TO NEGOTIATING WITH NEW ZEALAND ALUMINIUM SMELTERS LIMITED & ITS SHAREHOLDERS ON LONG-TERM REQUIREMENTS FOR THE SMELTER.IN EVENT OF CLOSURE, SMELTER OWNERS TO INCUR SIGNIFICANT REMEDIATION COSTS, RECENTLY SEEN BY NZAS IN REGION OF NZ$256 MILLION.  Full Article

Nufarm Announces Sale Of Nufarm South America To Sumitomo For $1,188 Million
Monday, 30 Sep 2019 

Sept 30 (Reuters) - Sumitomo Chemical Co Ltd <4005.T>::NUFARM LTD ANNOUNCES SALE OF NUFARM SOUTH AMERICA TO SUMITOMO FOR $1,188 MILLION.NUFARM LTD - TRANSACTION IS UNANIMOUSLY RECOMMENDED BY BOARD OF NUFARM SUBJECT TO THERE BEING NO SUPERIOR PROPOSAL FOR NUFARM SOUTH AMERICA.NUFARM LTD - NUFARM WILL PURCHASE $97.5M PREFERENCE SECURITIES ISSUED TO SUMITOMO IN AUGUST 2019 AT COMPLETION OF TRANSACTION.NUFARM-CO & SUMITOMO TO ENTER 2 YEAR SERVICES AGREEMENT; CO TO PROVIDE PROCUREMENT SERVICES & SUPPLY OF CERTAIN PRODUCTS TO SOUTH AMERICAN BUSINESSES.NUFARM- CONFIRMED AS PREFERRED COMMERCIALISATION PARTNER FOR SUMITOMO'S PROPRIETARY FUNGICIDES PAVECTO & INDIFLIN IN GERMANY, POLAND & UNITED KINGDOM.  Full Article

Nufarm Announces Placement Of $97.5 Mln Preference Securities To Sumitomo Chemical Co
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - Nufarm Ltd ::ANNOUNCES PLACEMENT OF AUD$97.5M PREFERENCE SECURITIES.EXPECTS TO REPORT UNDERLYING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION OF AROUND $420 MILLION FOR 2019.A QUARTERLY DISTRIBUTION AT A FIXED RATE OF 6% IS PAYABLE TO SUMITOMO FOR FIRST 12 MONTHS AND 10% THEREAFTER..SECURITIES MAY BE EXCHANGED FOR NUFARM SHARES AT SUMITOMO'S ELECTION ANY TIME AFTER 24-MONTH AT EXCHANGE PRICE OF AUD$5.85 PER NUFARM SHARE.EXPECTS TO REPORT ABOUT $50 MILLION OF SIGNIFICANT ITEMS (BEFORE TAX) THAT WILL BE EXCLUDED FROM UNDERLYING EBITDA IN 2019 FY.EXPECTS TO REPORT NET WORKING CAPITAL OF AROUND $1.6 BILLION FOR YEAR END.EXPECT NET DEBT TO UNDERLYING EBITDA RATIO TO BE AROUND 3 TIMES FOLLOWING RECEIPT OF PLACEMENT FUNDS FROM SUMITOMO.ANNOUNCES PLACEMENT OF $97.5 MILLION OF PREFERENCE SECURITIES TO SUMITOMO CHEMICAL COMPANY LIMITED.  Full Article

UPDATE 3-Rio Tinto to shutter NZ aluminium smelter, putting jobs and economy in peril

* Government disappointed by Rio Tinto's decision (Recasts, adds comment from government and Contact energy,)