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Grace reports 1Q 2009 results and restructuring
F O C U S €7.7 M to €261.5 M. Both divisions (Catalysts Division and Adsorbents Division) registered a lower volume of business. Currency effects had a positive influence on revenue during 1Q 2009, amounting to €4.3 M. Companies acquired from 2Q 2008 onwards and newly-formed jvs contributed another €7.6 M to revenue. During 1Q 2009, the current economic situation had an even stronger negative impact on consolidated profit from operations (EBIT) than on revenue. Especially during Jan and Feb, the Group suffered a significant setback in earnings. In Mar 2009, the earnings returned to normal and the Group is able to view ongoing performance in 2009 with a degree of confidence. During 1Q 2009, EBIT fell to €12.3 M (1Q 2008: €27.0 M). The EBITDA was down from €37.9 M to €26.6 M. At 31 Mar 2009, Süd-Chemie Group employees totalled 6318, (1Q 2008: 5137). Revenues of between €1.15 and €1.2 bn are expected for 2009 which, compared with 2008, represents a drop of no more than 4%. An EBIT of €95-100 M is expected, no more than 20% down on 2008. Süd-Chemie Interim Report 1Q 2009, 5 May 2009, 3,10 (Süd-Chemie AG, Lenbachplatz 6, 80333 Munich, Germany. Tel: +49 89 5110 0. Fax: +49 89 5110 375. Website: http://www.sud-chemie.com)
Süd-Chemie predicts that demand will recover in 2010 Süd-Chemie expects demand to recover by 2010 and predicts a turnover of between €1.25-1.3 bn for this period. However the company forecasts a slight downturn in sales for 2009. Süd-Chemie targets a pretax profit of €120 M in 2010. The company is currently implementing a cost-saving programme which will target administrative and staff costs. Farbe und Lack, May 2009, 115 (5), 19 (in German)
Süd-Chemie 1Q 2009: Results for Catalytic Technologies Business Unit Süd-Chemie’s Catalytic Technologies Business Unit consists of four industry groups, namely Chemicals, Petrochemicals, Refinery and Olefin Polymerization. Strong activity in Mar 2009 was able to compensate for the weak start to the year in the Catalytic Technologies Business Unit. Compared with 1Q 2008, revenues for 1Q 2009
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rose by €4.6 M due to higher sales of process catalysts in the two Industry Groups for Petrochemicals and Refineries. However, a significant drop of €7.8 M to €8.9 M was nevertheless recorded in profit from operations (EBIT) over the same period, as a result of lower capacity utilization in the production plants. At the end of the first quarter of 2009, the Business Unit continued to report a satisfactory forward order level. Key financial data are tabulated. At the end of 1Q 2009, this business unit had 2053 employees (1Q 2008: 1701). Süd-Chemie Interim Report 1Q 2009, 5 May 2009, 7 (Süd-Chemie AG, Lenbachplatz 6, 80333 Munich, Germany. Tel: +49 89 5110 0. Fax: +49 89 5110 375. Website: http://www.sud-chemie.com)
Süd-Chemie 1Q 2009: Summary of results for Adsorbents Division and Catalysts Division Süd-Chemie’s Adsorbents Division includes the four Business Units of Adsorbents and Additives, Foundry Products and Specialty Resins, Performance Packaging, and Water Treatment. Compared with 1Q 2008, the Adsorbents Division suffered a €8.2 M fall in revenue, to €162.4 M for 1Q 2009. This downturn resulted mainly from operations in the Adsorbents and Additives Business Unit. A significant decrease of €5.7 M to €12.1 M was recorded in profit from operations (EBIT) compared with 1Q 2008. A total of 3654 people were employed in the Adsorbents Division at 31 Mar 2009. (1Q 2008: 2914). The Catalysts Division consists of two Business Units, Catalytic Technologies and Energy and Environment. The Catalysts Division registered a slight upturn in business activity during the first three months of 2009. Compared with 1Q 2008, revenue rose by €0.6 M to €99.1 M. EBIT reached just €4.0 M, a marked drop of €11.6 M compared with 1Q 2008. The number of employees in the Catalysts Division totalled 2260 at 31 Mar 2009 (1Q 2008: 1858). Süd-Chemie Interim Report 1Q 2009, 5 May 2009, 4,6 (Süd-Chemie AG, Lenbachplatz 6, 80333 Munich, Germany, tel: +49 89 5110 0, fax: +49 89 5110 375, website: http://www.sud-chemie.com)
Verdezyne, Novozymes partner for industrial enzymes Verdezyne and enzyme producer Novozymes will join forces to develop
industrial enzymes. Verdezyne, which specializes in biobased technologies for chemicals and fuels, will optimize genes that code for industrial enzymes using computational and biological methods. The enzymes will be produced by Novozymes in microbes. Chemical and Engineering News, 20 Apr 2009, 87 (16), 20
Grace reports 1Q 2009 results and restructuring WR Grace & Co announced its financial results for 1Q ended Mar 2009. Sales for 1Q 2009 were $682.1 M ($759.2 M in 1Q 2009). Sales were down 5.3% in North America and 23.8% in Europe, and up 11.1% in Latin America and 8.0% in Asia Pacific for 1Q 2009. Net loss for 1Q 2009 was $38.9 M, or $0.54/diluted share (net income of $17.7 M, or $0.24/diluted share, in 1Q 2008). The 1Q 2009 sales for the Grace Davison operating segment, which includes speciality catalysts and materials used in a wide range of industrial applications, were $477.8 M, down 3.9% from 1Q 2008. Refining Technologies – sales of catalysts and chemical additives used by petroleum refineries were $276.7 M in 1Q 2009, up 16.8% from 1Q 2008. The 1Q 2009 sales were down 17.5% in North America and up 2.6% in Latin America, when compared with 1Q 2008. Europe – sales of products to customers in Eastern and Western Europe, the Middle East, Africa, and India were $62.9 M in 1Q 2009, down 35.6% from 1Q 2008. Asia – sales of products to customers in Asia (excluding India), Australia, and New Zealand were $29.6 M in 1Q 2009, down 7.5% from 1Q 2008. WR Grace & Co financial results 1Q 2009, 23 Apr 2009 (WR Grace & Co, 7500 Grace Drive, Columbia, MD 21044, USA. Tel: +1 410 531 4514. Website: http://www.grace.com)
NEW PLANTS BASF adds PP catalyst capacity BASF Catalysts has increased its polypropylene catalyst capacity via expansion and debottlenecking. The bulk of the additional capacity was for the LYNX catalysts produced at the company’s factory in Pasadena, TX. Chemical Week, 27 Apr 2009 (Website: http://www.chemweek.com)
JUNE 2009
Süd-Chemie predicts that demand will recover in 2010 Süd-Chemie expects demand to recover by 2010 and predicts a turnover of between €1.25-1.3 bn for this period. However the company forecasts a slight downturn in sales for 2009. Süd-Chemie targets a pretax profit of €120 M in 2010. The company is currently implementing a cost-saving programme which will target administrative and staff costs. Farbe und Lack, May 2009, 115 (5), 19 (in German)
Süd-Chemie 1Q 2009: Results for Catalytic Technologies Business Unit Süd-Chemie’s Catalytic Technologies Business Unit consists of four industry groups, namely Chemicals, Petrochemicals, Refinery and Olefin Polymerization. Strong activity in Mar 2009 was able to compensate for the weak start to the year in the Catalytic Technologies Business Unit. Compared with 1Q 2008, revenues for 1Q 2009
4
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C ATA LY S T S
rose by €4.6 M due to higher sales of process catalysts in the two Industry Groups for Petrochemicals and Refineries. However, a significant drop of €7.8 M to €8.9 M was nevertheless recorded in profit from operations (EBIT) over the same period, as a result of lower capacity utilization in the production plants. At the end of the first quarter of 2009, the Business Unit continued to report a satisfactory forward order level. Key financial data are tabulated. At the end of 1Q 2009, this business unit had 2053 employees (1Q 2008: 1701). Süd-Chemie Interim Report 1Q 2009, 5 May 2009, 7 (Süd-Chemie AG, Lenbachplatz 6, 80333 Munich, Germany. Tel: +49 89 5110 0. Fax: +49 89 5110 375. Website: http://www.sud-chemie.com)
Süd-Chemie 1Q 2009: Summary of results for Adsorbents Division and Catalysts Division Süd-Chemie’s Adsorbents Division includes the four Business Units of Adsorbents and Additives, Foundry Products and Specialty Resins, Performance Packaging, and Water Treatment. Compared with 1Q 2008, the Adsorbents Division suffered a €8.2 M fall in revenue, to €162.4 M for 1Q 2009. This downturn resulted mainly from operations in the Adsorbents and Additives Business Unit. A significant decrease of €5.7 M to €12.1 M was recorded in profit from operations (EBIT) compared with 1Q 2008. A total of 3654 people were employed in the Adsorbents Division at 31 Mar 2009. (1Q 2008: 2914). The Catalysts Division consists of two Business Units, Catalytic Technologies and Energy and Environment. The Catalysts Division registered a slight upturn in business activity during the first three months of 2009. Compared with 1Q 2008, revenue rose by €0.6 M to €99.1 M. EBIT reached just €4.0 M, a marked drop of €11.6 M compared with 1Q 2008. The number of employees in the Catalysts Division totalled 2260 at 31 Mar 2009 (1Q 2008: 1858). Süd-Chemie Interim Report 1Q 2009, 5 May 2009, 4,6 (Süd-Chemie AG, Lenbachplatz 6, 80333 Munich, Germany, tel: +49 89 5110 0, fax: +49 89 5110 375, website: http://www.sud-chemie.com)
Verdezyne, Novozymes partner for industrial enzymes Verdezyne and enzyme producer Novozymes will join forces to develop
industrial enzymes. Verdezyne, which specializes in biobased technologies for chemicals and fuels, will optimize genes that code for industrial enzymes using computational and biological methods. The enzymes will be produced by Novozymes in microbes. Chemical and Engineering News, 20 Apr 2009, 87 (16), 20
Grace reports 1Q 2009 results and restructuring WR Grace & Co announced its financial results for 1Q ended Mar 2009. Sales for 1Q 2009 were $682.1 M ($759.2 M in 1Q 2009). Sales were down 5.3% in North America and 23.8% in Europe, and up 11.1% in Latin America and 8.0% in Asia Pacific for 1Q 2009. Net loss for 1Q 2009 was $38.9 M, or $0.54/diluted share (net income of $17.7 M, or $0.24/diluted share, in 1Q 2008). The 1Q 2009 sales for the Grace Davison operating segment, which includes speciality catalysts and materials used in a wide range of industrial applications, were $477.8 M, down 3.9% from 1Q 2008. Refining Technologies – sales of catalysts and chemical additives used by petroleum refineries were $276.7 M in 1Q 2009, up 16.8% from 1Q 2008. The 1Q 2009 sales were down 17.5% in North America and up 2.6% in Latin America, when compared with 1Q 2008. Europe – sales of products to customers in Eastern and Western Europe, the Middle East, Africa, and India were $62.9 M in 1Q 2009, down 35.6% from 1Q 2008. Asia – sales of products to customers in Asia (excluding India), Australia, and New Zealand were $29.6 M in 1Q 2009, down 7.5% from 1Q 2008. WR Grace & Co financial results 1Q 2009, 23 Apr 2009 (WR Grace & Co, 7500 Grace Drive, Columbia, MD 21044, USA. Tel: +1 410 531 4514. Website: http://www.grace.com)
NEW PLANTS BASF adds PP catalyst capacity BASF Catalysts has increased its polypropylene catalyst capacity via expansion and debottlenecking. The bulk of the additional capacity was for the LYNX catalysts produced at the company’s factory in Pasadena, TX. Chemical Week, 27 Apr 2009 (Website: http://www.chemweek.com)
JUNE 2009