Daily Brief Energy/Materials: Aekyung Chemical , Dow , Progroup AG, Steel Dynamics, Tetra Technologies and more

• Hahn & Co hold 79.9% of Ssangyong Cement Industrial (003410 KS) and have made a tender offer to acquire the remaining 20.1% at KRW 7,000/share.
• Ssangyong Cement Industrial (003410 KS) should be deleted from the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) once Hahn & Co acquire 90% of the company.
• Aekyung Chemical (161000 KS) is a potential addition to the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) but inclusion is dependent on Hahn & Co reaching 90% of shares out.

• The Dow Inc.’s Q4 2023 results show the company’s commitment to fulfill its financial obligations amidst a challenging macroeconomic environment.
• The company reported net sales of $10.6 billion, a 10% decrease from the same period in the previous year.
• Sales in all operating segments declined due to lower feedstock and energy costs, resulting in a 1% decrease in sequential sales.

Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).

We assess Progroup’s ESG as “Adequate”, in line with its Environmental, Social and Governance pillars. Controversies are “Immaterial” and Disclosure is “Adequate”.

Progroup is a leading family-owned producer and supplier of containerboard and corrugated board in Central Europe.

• The investment thesis of Steel Dynamics is centered around the company’s strong operational performance and strategic differentials against its competitors.
• In the Q4 and FY2023 earnings call, Steel Dynamics highlighted a record safety year, with steel shipments amounting to 12.8 million tons, the highest yet.
• The company also boasted its second-best year for revenues at $18.8 billion and cash flow from operations at $3.5 billion.

Key points (machine generated)

• TTI has three main segments, including well completion operations, water & flowback services, and compression, which provide stable cash flow and a competitive advantage in the market.
• The water & flowback services segment has shown resilience during the industry downturn and is well-positioned to benefit from the increasing demand for water management solutions in the energy sector.
• TTI has several growth projects, including offshore deepwater projects, expansion of its completion fluids product line, and diversification into new markets such as carbon capture and storage, which have the potential to significantly increase the company’s revenue and profitability.

This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.