Calumet Specialty Products

Calumet Specialty takes loss after refinery slowdown

August 7, 2014
 IBJ Staff
Calumet Specialty Products Partners LP suffered a bigger-than-expected second-quarter loss, partly due to a 30-day slowdown for maintenance at its refinery in Shreveport, Louisiana.
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INDIANA 100: Indiana public companies turned in contrasting performancesRestricted Content

June 21, 2014
Kathleen McLaughlin, Chris O'Malley, Scott Olson, Anthony Schoettle
Profit shot up for some, while others fought setbacks.
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Calumet acquires $25M stake in Louisiana plant

June 10, 2014
 IBJ Staff
Calumet Specialty Products Partners LP plans to spend $25 million acquiring a 22-percent stake in a gas-to-liquids plant in Louisiana.
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Calumet may cut debt ratio without lower borrowings, CFO says

April 21, 2014
Bloomberg News
Indianapolis-based Calumet Specialty Products Partners LP plans to lower its leverage by increasing earnings rather than cutting debt that is rising by 35.6 percent this month.
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Calumet to acquire drilling-fluids maker for $235 million

March 26, 2014
Calumet Specialty Products said it plans to complete its acquisition of ADF Holdings by March 31. ADF is the parent of Tulsa-based Anchor Drilling Fluids USA Inc., a leading provider of drilling-fluid solutions to the oil and gas industry.
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Can oil refiner Calumet keep dividend gushing?Restricted Content

March 1, 2014
Greg Andrews
The decline in the stock price has pushed the dividend yield ever-higher, with Calumet now boasting the 18th-largest yield among the more than 3,000 companies that trade on NASDAQ.
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Calumet shares skid on big fourth-quarter loss

February 19, 2014
 IBJ Staff
The Indianapolis-based processor of crude oil blamed its loss on tighter profit margins and higher operating costs. It has been on an acquisition spree since 2011.
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Calumet acquires New Jersey lubricant maker

December 11, 2013
Dan Human
Bel-Ray Co. deal brings East Coast ports to Indianapolis-based Calumet.
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PROXY CORNER: Calumet Specialty Products Partners LPRestricted Content

October 12, 2013
Calumet Specialty Products Partners LP processes crude oil into a variety of customized lubricating oils, solvents and waxes, as well as into gasoline, diesel and jet fuel.
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Calumet Specialty shares fall after plunge in earnings

August 7, 2013
 IBJ Staff
Shares of Calumet Specialty Products Partners LP dropped as much as 8 percent early Wednesday after the Indianapolis-based company reported a dramatic decline in profit in the second quarter.
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Calumet's 2012 profit rockets to $205.7 million

February 13, 2013
Dan Human
An acquisition spree helped oil refiner Calumet Specialty Products increase profit almost five-fold in 2012, the Indianapolis-based company reported Wednesday morning.
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Calumet jumps into $300 million refinery joint venture

February 7, 2013
Dan Human
Calumet Specialty Products Partners LP plans to build a $300 million diesel refinery in North Dakota as part of a joint venture with energy company MDU Resources Group Inc., the firms announced after markets closed Thursday.
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Refiner considers shipping oil via Great Lakes

January 27, 2013
Associated Press
Petroleum refiner Calumet Specialty Product Partners is exploring whether to build a crude oil loading dock on Lake Superior, near its refinery in Superior, Wis., to ship crude oil on the Great Lakes.
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Calumet Specialty buys Texas refinery for $115M

December 18, 2012
 IBJ Staff and Associated Press
Indianapolis-based Calumet Specialty Products Partners LP said Monday that it is buying NuStar's San Antonio, Texas, refinery assets for about $115 million.
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Refinery purchases bring big gains to CalumetRestricted Content

November 10, 2012
Dan Human
Better profitability in crude-oil refining has prodded Calumet Specialty Products Partners LP into a $1 billion flurry of acquisitions over the past year.
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Calumet's sales, profit boom after acquisitions

October 31, 2012
 IBJ Staff
Calumet Specialty Products Partners LP’s profit more than doubled in the third quarter, helped by huge gains in the fuel-products side of its business following several acquisitions.
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Calumet Specialty turns big profit in second quarter

August 1, 2012
The Indianapolis-based company said Wednesday morning that profit soared to $65.7 million compared with a loss of $7.7 million in the second quarter of 2011.
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Calumet buying Royal Purple for about $335 million

June 6, 2012
Associated Press
Indianapolis-based Petroleum refiner Calumet Specialty Products Partners LP is buying high-performance lubricants maker Royal Purple Inc. of Porter, Texas, for about $335 million, the companies announced Wednesday morning.
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Calumet plans to add 48 jobs at Indianapolis headquarters

May 25, 2012
 IBJ Staff
The oil refiner, which currently has 75 full-time Indiana employees, has begun hiring management, accounting, sales, human resources and information technology workers.
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Oil refiner Calumet unleashes $150M stock offeringRestricted Content

May 12, 2012
Kathleen McLaughlin
With its shares trading up more than 60 percent from the doldrums of last fall, Calumet Specialty Products Partners rolled out plans to sell another 6 million shares of stock, raising more than $150 million.
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Calumet Specialty’s revenue, profit soar in first quarter

May 2, 2012
The company's improved performance over the same period last year was mostly due to a 150-percent increase in sales volume from its acquisition of a Wisconsin refinery in September.
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Calumet Specialty revenue, profit jump after acquisition

February 15, 2012
Indianapolis-based Calumet Specialty Products Partners LP said Wednesday morning that a major refinery acquisition helped company revenue and profit soar in the fourth quarter as compared to the same period in 2010.
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Calumet Specialty Products buys synthetic lubricant businessRestricted Content

January 14, 2012
 IBJ Staff
The purchase included 22 acres of land and a factory in Louisiana, Mo.
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Calumet turns profit on higher product demand

May 4, 2011
The Indianapolis-based company reported first-quarter profit of $4.2 million after posting a loss in the year-ago period.
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Calumet Specialty hopes to raise $375M to pay off debt

April 12, 2011
Kathleen McLaughlin
Indianapolis oil-refiner Calumet Specialty Products Partners LP intends to sell $375 million in senior notes to pay off existing debt.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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