- Email: [email protected]
Cabot sees revenues rise 6% for 2001
Additives.for
Polymers
Contact: Kerr-McGee Pigments GmbH & Co. KG, Gebiiude R 54, Rheinuferstrasse 7-9, D-47829 Krefeld, Germany; tel: +49-2151888269; fax: +49-21.51-888280
Rohm and Haas ends production of tin stabilizers in Europe Rohm and Haas’ Plastics Additives unit is to close its methyl tin stabilizer production facility at Semoy in France, for the foreseeable future. The company says it has reviewed its international operations and has decided to source the complete range of tin stabilizers from its Cincinnati manufacturing facility in the USA. The company adds that it has made the necessary changes to its supply chain resources to ensure that sufficient product is held in a European location to satisfy current and future demand. The company says that it is committed to new product development in Europe and is introducing new high performance products manufactured in Cincinnati. According to Yves Hubert, general manager for Plastics Additives in Europe, the move will bring a number of benefits to the company’s supply situation in Europe. “Most importantly, this move will ensure we have enough available capacity to accommodate growth in our customers’ business”, he adds. The company is confident that the level of manufacturing established at its Cincinnati plant will ensure the highest product quality for demanding applications. The move will also provide greater production flexibility and allow the Plastics Additives business to support changes in customer demand, Rohm and Haas says. Contact: Rohm and Haas Plastics Additives, Europe, La tour de Lyon, 185 rue de Bercy, 75579 Paris Cedex 12, France; tel: +33-14002-5031; fax: +33-l-4002-.5014; e-mail: [email protected]
FINANCIALS Albemarle Corp reports third quarter figures For the third quarter of 2001 Albemarle Corp achieved a net income of US$16.8 million
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compared to $23.7 million for the same period last year, a decline of almost 30%. Net sales for the quarter were $242 million, up from $237.1 million for the corresponding period of 2000 on the back of two acquisitions in the Fine Chemicals division. Results for the third quarter were particularly affected by lower shipments and the effects of lower utilization of plant facilities for the production of flame retardants, which comes under Albemarle’s Polymer Chemicals division, the company says. Revenues for the division were $117 million for the three-month period, a fall of about 9% compared to 2000, but net income was virtually halved at $14.2 million, compared to $28.3 million for the same time last year. The Fine Chemicals division saw revenues and income rise 15% and 20%, respectively, to $124.5 million and $18.06 million as a result of the acquisitions, and improvements in the agrichemicals and pharmachemicals businesses. For the nine months to 30 September 2001, Albemarle posted a net income of $54.1 million, down from $75.9 million for the same period last year. Net sales for the three quarters were $677.7 million compared to $698.7 million in 2000. The company attributes these results not only to reduced demand for its flame retardants but also to lower shipments of catalysts, additives and zeolites, primarily because of the slower economy. The company has implemented aggressive cost reduction efforts which, it says, have already shown benefits. Contact: Albemarle Corporation, 451 Florida Street, Baton Rouge, LA 70801-I 765, USA; tel: +I-225-388-7402; fax: +I-22.5-388-7848; URL: www.albemarle.com
Cabot sees revenues rise 6% for 2001 For its fiscal year ended 30 September 2001, Cabot Cot-p reported revenues of US$l.670 billion, up 6% compared with a figure of $1.574 billion for 2000, on a continuing operations basis. The improved year on year revenue reflects higher selling prices in all businesses and higher volumes in its Performance Materials (CPM) businesses, though this was offset by lower volumes in the Chemical businesses, Cabot says.
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Additives for Polymers
December 2001
Cabot earned a net income of $136 million in fiscal year 2001, compared to $114 million last year, before special items - a rise of 19%. The Chemical businesses, which include Cabot’s carbon black operations, reported a $59 million decrease in operating profit for the year driven by lower volumes and a stronger dollar, which were partially offset by higher selling prices. Cabot claims to be the largest global supplier of carbon black. Fourth quarter income was also up on the same period of 2000. Revenues were $381 million, compared with $387 million, but net income reached $27 million, up from $23 million for the same period of 2000. However, the Chemical businesses continued to experience very weak market conditions during the three month period, with demand for products considerably lower than for the same period last year. In addition, the businesses have faced pricing pressure due to low utilization rates. The segment reported a $14 million (47%) decline in operating profit compared to the same quarter last year. Demand for carbon black was lower across all markets and regions, contributing to a $5 million decline in operating profit compared to last year’s fourth quarter. Although quarterly volumes were lower, the company says the businesses benefited from improved margins largely due to lower feedstock cost. While pleased with its performance in 200 1 given the global economic conditions, the company admits that the outlook for 2002 is tenuous. Contact: Cabot Corporation, Two Seaport Lane, Suite 1300, Boston, MA 02210-2019, USA; tel: +-l-61 7-345-0100; farx: +I-61 7-342-6103
NEWS AND VIEWS Cytec Industries renames Fiberite unit Cytec Industries Inc has changed the name of its Specialty Materials Unit from Cytec Fiberite Inc to Cytec Engineered Materials Inc. Cytec says the new name better defines the strategic focus and product technology of the unit. The company will continue to manufacture same product range, including composites
0200 1 Elsevier Science
the for
aircraft structures, Fl automotive and marine applications, and adhesives for aircraft. The unit was recently expanded with the acquisition of BP Amoco’s carbon tibre business (see Additives for Polymers, October 2001, p. 4). Mike Molyneux, president of Cytec Engineered Materials, says the company’s goal is to develop the highest performing materials and technologies as solutions for the most demanding aerospace and specialty applications, “defining a new direction for the growing advanced materials marketplace”. Contact: Cytec Industries Inc, 5 Garret Mountain Plaza, West Paterson, NJ 07424, USA; tel: +l973-357-3100; fa: +l-973-357-3060.
Astaris will cease phosphorus production at Pocatello plant Astaris LLC, jointly owned by FMC Corp and Solutia Inc, is to end production of elemental phosphorus at its Pocatello, ID, USA, plant by the end of this year. The company significantly reduced its production at the facility earlier this year because of the high cost of electricity. Astaris produces phosphorus-derived chemicals including the phosphate salts used in the manufacture of flame retardants for plastics and a diverse range of other applications, from industrial cleaners, paints and pharmaceuticals. It has annual sales of approximately US$500 million. The decision to reduce dependence on feedstock sourced from elemental phosphorus was reached before the formal establishment of Astaris in April 2000. The company will now switch more feedstock to lower-cost purified phosphoric acid (PPA), which is expected to improve the competitiveness of Astaris significantly. To this end, the company has also signed a supply agreement with PCS Sales (USA), Inc, covering the long-term supply of PPA following the completion of PCS’ PPA expansion at its Aurora, NC, manufacturing site, which is scheduled for completion in early 2003. In addition, Astaris has recently started up its own PPA manufacturing plant in Soda Springs, ID. Following cessation of production at Pocatello, responsibility for the site and decommissioning of the plant will revert to FMC Corp. FMC expects additional fourth quarter restructuring charges of
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Polymers
Contact: Kerr-McGee Pigments GmbH & Co. KG, Gebiiude R 54, Rheinuferstrasse 7-9, D-47829 Krefeld, Germany; tel: +49-2151888269; fax: +49-21.51-888280
Rohm and Haas ends production of tin stabilizers in Europe Rohm and Haas’ Plastics Additives unit is to close its methyl tin stabilizer production facility at Semoy in France, for the foreseeable future. The company says it has reviewed its international operations and has decided to source the complete range of tin stabilizers from its Cincinnati manufacturing facility in the USA. The company adds that it has made the necessary changes to its supply chain resources to ensure that sufficient product is held in a European location to satisfy current and future demand. The company says that it is committed to new product development in Europe and is introducing new high performance products manufactured in Cincinnati. According to Yves Hubert, general manager for Plastics Additives in Europe, the move will bring a number of benefits to the company’s supply situation in Europe. “Most importantly, this move will ensure we have enough available capacity to accommodate growth in our customers’ business”, he adds. The company is confident that the level of manufacturing established at its Cincinnati plant will ensure the highest product quality for demanding applications. The move will also provide greater production flexibility and allow the Plastics Additives business to support changes in customer demand, Rohm and Haas says. Contact: Rohm and Haas Plastics Additives, Europe, La tour de Lyon, 185 rue de Bercy, 75579 Paris Cedex 12, France; tel: +33-14002-5031; fax: +33-l-4002-.5014; e-mail: [email protected]
FINANCIALS Albemarle Corp reports third quarter figures For the third quarter of 2001 Albemarle Corp achieved a net income of US$16.8 million
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December 2001
compared to $23.7 million for the same period last year, a decline of almost 30%. Net sales for the quarter were $242 million, up from $237.1 million for the corresponding period of 2000 on the back of two acquisitions in the Fine Chemicals division. Results for the third quarter were particularly affected by lower shipments and the effects of lower utilization of plant facilities for the production of flame retardants, which comes under Albemarle’s Polymer Chemicals division, the company says. Revenues for the division were $117 million for the three-month period, a fall of about 9% compared to 2000, but net income was virtually halved at $14.2 million, compared to $28.3 million for the same time last year. The Fine Chemicals division saw revenues and income rise 15% and 20%, respectively, to $124.5 million and $18.06 million as a result of the acquisitions, and improvements in the agrichemicals and pharmachemicals businesses. For the nine months to 30 September 2001, Albemarle posted a net income of $54.1 million, down from $75.9 million for the same period last year. Net sales for the three quarters were $677.7 million compared to $698.7 million in 2000. The company attributes these results not only to reduced demand for its flame retardants but also to lower shipments of catalysts, additives and zeolites, primarily because of the slower economy. The company has implemented aggressive cost reduction efforts which, it says, have already shown benefits. Contact: Albemarle Corporation, 451 Florida Street, Baton Rouge, LA 70801-I 765, USA; tel: +I-225-388-7402; fax: +I-22.5-388-7848; URL: www.albemarle.com
Cabot sees revenues rise 6% for 2001 For its fiscal year ended 30 September 2001, Cabot Cot-p reported revenues of US$l.670 billion, up 6% compared with a figure of $1.574 billion for 2000, on a continuing operations basis. The improved year on year revenue reflects higher selling prices in all businesses and higher volumes in its Performance Materials (CPM) businesses, though this was offset by lower volumes in the Chemical businesses, Cabot says.
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December 2001
Cabot earned a net income of $136 million in fiscal year 2001, compared to $114 million last year, before special items - a rise of 19%. The Chemical businesses, which include Cabot’s carbon black operations, reported a $59 million decrease in operating profit for the year driven by lower volumes and a stronger dollar, which were partially offset by higher selling prices. Cabot claims to be the largest global supplier of carbon black. Fourth quarter income was also up on the same period of 2000. Revenues were $381 million, compared with $387 million, but net income reached $27 million, up from $23 million for the same period of 2000. However, the Chemical businesses continued to experience very weak market conditions during the three month period, with demand for products considerably lower than for the same period last year. In addition, the businesses have faced pricing pressure due to low utilization rates. The segment reported a $14 million (47%) decline in operating profit compared to the same quarter last year. Demand for carbon black was lower across all markets and regions, contributing to a $5 million decline in operating profit compared to last year’s fourth quarter. Although quarterly volumes were lower, the company says the businesses benefited from improved margins largely due to lower feedstock cost. While pleased with its performance in 200 1 given the global economic conditions, the company admits that the outlook for 2002 is tenuous. Contact: Cabot Corporation, Two Seaport Lane, Suite 1300, Boston, MA 02210-2019, USA; tel: +-l-61 7-345-0100; farx: +I-61 7-342-6103
NEWS AND VIEWS Cytec Industries renames Fiberite unit Cytec Industries Inc has changed the name of its Specialty Materials Unit from Cytec Fiberite Inc to Cytec Engineered Materials Inc. Cytec says the new name better defines the strategic focus and product technology of the unit. The company will continue to manufacture same product range, including composites
0200 1 Elsevier Science
the for
aircraft structures, Fl automotive and marine applications, and adhesives for aircraft. The unit was recently expanded with the acquisition of BP Amoco’s carbon tibre business (see Additives for Polymers, October 2001, p. 4). Mike Molyneux, president of Cytec Engineered Materials, says the company’s goal is to develop the highest performing materials and technologies as solutions for the most demanding aerospace and specialty applications, “defining a new direction for the growing advanced materials marketplace”. Contact: Cytec Industries Inc, 5 Garret Mountain Plaza, West Paterson, NJ 07424, USA; tel: +l973-357-3100; fa: +l-973-357-3060.
Astaris will cease phosphorus production at Pocatello plant Astaris LLC, jointly owned by FMC Corp and Solutia Inc, is to end production of elemental phosphorus at its Pocatello, ID, USA, plant by the end of this year. The company significantly reduced its production at the facility earlier this year because of the high cost of electricity. Astaris produces phosphorus-derived chemicals including the phosphate salts used in the manufacture of flame retardants for plastics and a diverse range of other applications, from industrial cleaners, paints and pharmaceuticals. It has annual sales of approximately US$500 million. The decision to reduce dependence on feedstock sourced from elemental phosphorus was reached before the formal establishment of Astaris in April 2000. The company will now switch more feedstock to lower-cost purified phosphoric acid (PPA), which is expected to improve the competitiveness of Astaris significantly. To this end, the company has also signed a supply agreement with PCS Sales (USA), Inc, covering the long-term supply of PPA following the completion of PCS’ PPA expansion at its Aurora, NC, manufacturing site, which is scheduled for completion in early 2003. In addition, Astaris has recently started up its own PPA manufacturing plant in Soda Springs, ID. Following cessation of production at Pocatello, responsibility for the site and decommissioning of the plant will revert to FMC Corp. FMC expects additional fourth quarter restructuring charges of
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