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Albemarle announces 3Q 2004 results
FOCUS rapidly growing. In response to this growth, catalysts production and shipments in Japan, which exceeded 90,000 tonnes in 2002, further increased to 92,250 tonnes in 2003. Production and shipments were up 2% and 3% respectively in 2003. Growth in demand for automotive catalysts is being fuelled by tightening emission standards. Japan Chemical Week, 7 Oct 2004, 45 (2289), 8
Japanese photocatalyst market increased by 76% in 2003 High performance titanium dioxide products are being developed to take advantage of the growing demand from the photocatalyst market. There was a 76% increase in sales by the 48 member companies of the Japanese Association of Photocatalysts Products in 2003 to Yen 25.3 bn/y. Demand in Japan is estimated at Yen 50 bn/y. Titanium dioxide consumption for photocatalysts is estimated at around 324 tonnes and rapid growth is forecast. Japan Chemical Week, 14 Oct 2004, 45 (2290), 7
US demand for enzymes increasing Demand for enzymes in the US is set to rise by 6%/y to 1.9 bn by 2008. Demand for enzymes used in pharmaceuticals will rise by 10.9%/y to $470 M. Demand for enzymes in food, beverages, and starch processing will improve by 3.8%/y to $596 M. The use of enzymes in the research, biotech, and diagnostics sectors is set to rise by 5.7%/y to $415 M. Chemical Week, 6 Oct 2004, 166 (32) & European Chemical News, 4 Oct 2004, 81 (2118), 28
COMPANY NEWS Akzo Nobel results down in 3Q 2004 In 3Q 2004 Akzo Nobel reported a net profit of €174.6 M, excluding extraordinary items, compared with €178 M in 3Q 2003. The operating result was down from €304 M to €288.4 M. Sale of the Catalysts and Phosphorus Chemicals operation
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resulted in an accounting profit of €400 M in 3Q 2004 and the divestment of Coating Resins in 4Q is expected to yield a smaller book profit. Akzo Nobel predicts that net profit in 2004, excluding extraordinary items, will be lower than the €741 M reported in 2003; this includes the divestment of the chemicals division. Het Financieele Dagblad, 18 Oct 2004 (Website: http://www.fd.nl/) (in Dutch)
Albemarle announces 3Q 2004 results Albemarle Corp reported net income for 3Q ended Sep 2004, excluding special items, of $20.3 M (net income, excluding special items, was $14.7 M in 3Q ended Sep 2003). Excluding special items, net income for nine months ended Sep 2004 was $56.1 M (net income of $48.4 M in nine months ended Sep 2003). Net sales for 3Q 2004, which included Aug and Sep 2004 results for the newly acquired refinery catalysts business of Akzo Nobel, were $413.9 M (net sales of $276.6 M in 3Q 2003). For nine months of 2004, net sales were $1.06 bn ($815.1 M in nine months of 2003). During 3Q 2004: Polymer Additives segment net sales, which now exclude the polyolefin catalyst business, were up 31.3%, due to strong volume gains across flame retardants and plastic, fuel and lube additives; Catalysts segment net sales were up $85.8 M, due primarily to the acquisition of the refinery catalysts business from Akzo Nobel; and Fine Chemicals segment net sales were up 6.4%. Albemarle 3Q and nine months of 2004 results, 28 Oct 2004 (Albemarle Corp, 330, South Fourth Street, PO Box 1335, Richmond, VA 23210, USA. Tel: +1 804 788 6000. Fax: +1 804 388 7686. Website: http://www.albemarle.com)
Chiral synthesis agreement between BASF and Solvias BASF has signed an agreement with Swiss company Solvias whereby the latter will supply it with chiral ligands for the synthesis of pharmaceutical intermediates and other biological products. Solvias will receive payment for any ligand which is used for commercial purposes. This is the first licensing agreement signed by BASF in the ligands sector. BASF will use the compounds for making amines, alcohols, epoxides, and chiral acids
sold under the ChiPros brand name. These compounds are made in quantities ranging from several grammes to a tonne. The agreement will enable BASF to accelerate the expansion to commercial scale production. In Mar 2004 Solvias signed an agreement allowing Merck to use its asymmetric catalysis technology for improving its production of new pharmaceutical substances. Chimie Pharma Hebdo, 18 Oct 2004, (272), 4 (in French)
Chiral Quest renamed and reorganised Chiral Quest, a producer of fine chemical catalysts and ligands, has changed its name to VioQuest Pharmaceuticals and formed a wholly owned subsidiary called VioQuest Drug Development. The new subsidiary will focus on a new activity – acquiring, developing, and commercializing human therapeutic drugs. Chiral Quest will continue with its present plan to commercialise chiral catalyst technology. The company had a 1Q net operating loss that doubled to $1.3 M on sales up fourfold at $357,000. It will continue to post a net loss as it is still gearing up. It has around 20 employees but will add up to 20 more when it commissions a plant at a biotech park in Jiashan, China, in few weeks. Chiral Quest is expanding its laboratory facilities at Monmouth Junction, NJ. This will improve the company’s ability to supply key catalyst materials in batches of 1-20 kg. Chiral Quest generates the bulk of its revenues from sales to fine chemical companies but expects that as its drugs customers’ drug candidates are approved, a growing share of income will be from drugs companies. Last month, Chiral Quest began selling its proprietary phosphine catalysts Ligand C3 TunePhos on a kilogram scale. Chemical Week, 8 Sep 2004, 166 (29) & Industrie Pharma Magazine, Sep 2004, (10), 11 (in French)
Chiral Quest Inc announces cooperation with Pfizer VioQuest Pharmaceuticals Inc announced that subsidiary Chiral Quest Inc’s ligand technology relationships include Pfizer Inc. Chiral
DECEMBER 2004
Japanese photocatalyst market increased by 76% in 2003 High performance titanium dioxide products are being developed to take advantage of the growing demand from the photocatalyst market. There was a 76% increase in sales by the 48 member companies of the Japanese Association of Photocatalysts Products in 2003 to Yen 25.3 bn/y. Demand in Japan is estimated at Yen 50 bn/y. Titanium dioxide consumption for photocatalysts is estimated at around 324 tonnes and rapid growth is forecast. Japan Chemical Week, 14 Oct 2004, 45 (2290), 7
US demand for enzymes increasing Demand for enzymes in the US is set to rise by 6%/y to 1.9 bn by 2008. Demand for enzymes used in pharmaceuticals will rise by 10.9%/y to $470 M. Demand for enzymes in food, beverages, and starch processing will improve by 3.8%/y to $596 M. The use of enzymes in the research, biotech, and diagnostics sectors is set to rise by 5.7%/y to $415 M. Chemical Week, 6 Oct 2004, 166 (32) & European Chemical News, 4 Oct 2004, 81 (2118), 28
COMPANY NEWS Akzo Nobel results down in 3Q 2004 In 3Q 2004 Akzo Nobel reported a net profit of €174.6 M, excluding extraordinary items, compared with €178 M in 3Q 2003. The operating result was down from €304 M to €288.4 M. Sale of the Catalysts and Phosphorus Chemicals operation
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C ATA LY S T S
resulted in an accounting profit of €400 M in 3Q 2004 and the divestment of Coating Resins in 4Q is expected to yield a smaller book profit. Akzo Nobel predicts that net profit in 2004, excluding extraordinary items, will be lower than the €741 M reported in 2003; this includes the divestment of the chemicals division. Het Financieele Dagblad, 18 Oct 2004 (Website: http://www.fd.nl/) (in Dutch)
Albemarle announces 3Q 2004 results Albemarle Corp reported net income for 3Q ended Sep 2004, excluding special items, of $20.3 M (net income, excluding special items, was $14.7 M in 3Q ended Sep 2003). Excluding special items, net income for nine months ended Sep 2004 was $56.1 M (net income of $48.4 M in nine months ended Sep 2003). Net sales for 3Q 2004, which included Aug and Sep 2004 results for the newly acquired refinery catalysts business of Akzo Nobel, were $413.9 M (net sales of $276.6 M in 3Q 2003). For nine months of 2004, net sales were $1.06 bn ($815.1 M in nine months of 2003). During 3Q 2004: Polymer Additives segment net sales, which now exclude the polyolefin catalyst business, were up 31.3%, due to strong volume gains across flame retardants and plastic, fuel and lube additives; Catalysts segment net sales were up $85.8 M, due primarily to the acquisition of the refinery catalysts business from Akzo Nobel; and Fine Chemicals segment net sales were up 6.4%. Albemarle 3Q and nine months of 2004 results, 28 Oct 2004 (Albemarle Corp, 330, South Fourth Street, PO Box 1335, Richmond, VA 23210, USA. Tel: +1 804 788 6000. Fax: +1 804 388 7686. Website: http://www.albemarle.com)
Chiral synthesis agreement between BASF and Solvias BASF has signed an agreement with Swiss company Solvias whereby the latter will supply it with chiral ligands for the synthesis of pharmaceutical intermediates and other biological products. Solvias will receive payment for any ligand which is used for commercial purposes. This is the first licensing agreement signed by BASF in the ligands sector. BASF will use the compounds for making amines, alcohols, epoxides, and chiral acids
sold under the ChiPros brand name. These compounds are made in quantities ranging from several grammes to a tonne. The agreement will enable BASF to accelerate the expansion to commercial scale production. In Mar 2004 Solvias signed an agreement allowing Merck to use its asymmetric catalysis technology for improving its production of new pharmaceutical substances. Chimie Pharma Hebdo, 18 Oct 2004, (272), 4 (in French)
Chiral Quest renamed and reorganised Chiral Quest, a producer of fine chemical catalysts and ligands, has changed its name to VioQuest Pharmaceuticals and formed a wholly owned subsidiary called VioQuest Drug Development. The new subsidiary will focus on a new activity – acquiring, developing, and commercializing human therapeutic drugs. Chiral Quest will continue with its present plan to commercialise chiral catalyst technology. The company had a 1Q net operating loss that doubled to $1.3 M on sales up fourfold at $357,000. It will continue to post a net loss as it is still gearing up. It has around 20 employees but will add up to 20 more when it commissions a plant at a biotech park in Jiashan, China, in few weeks. Chiral Quest is expanding its laboratory facilities at Monmouth Junction, NJ. This will improve the company’s ability to supply key catalyst materials in batches of 1-20 kg. Chiral Quest generates the bulk of its revenues from sales to fine chemical companies but expects that as its drugs customers’ drug candidates are approved, a growing share of income will be from drugs companies. Last month, Chiral Quest began selling its proprietary phosphine catalysts Ligand C3 TunePhos on a kilogram scale. Chemical Week, 8 Sep 2004, 166 (29) & Industrie Pharma Magazine, Sep 2004, (10), 11 (in French)
Chiral Quest Inc announces cooperation with Pfizer VioQuest Pharmaceuticals Inc announced that subsidiary Chiral Quest Inc’s ligand technology relationships include Pfizer Inc. Chiral
DECEMBER 2004