- Email: [email protected]
Catalytica losses in 3Q 2005
F O C U S construction of a catalyst unit in the Middle East, and intends to expand its catalysts operations in Asia. Albemarle will commission a catalyst repackaging plant in China by May 2006. To meet soaring demands in North America, the company is evaluating plans to increase cGMP capacity at its Orangeburg site. A minor expansion at its cGMP unit at Dayton in Ohio, USA was completed in Feb 2006. Chemical Week, 22 Feb 2006 (Website: http://www.chemweek.com)
BASF steps closer to Engelhard deal: reports record profits for 2005 BASF is studying a draft of a confidentiality agreement drawn up by Engelhard. Signing the agreement would allow BASF to clearly examine Engelhard’s financial data, but also require the company to undertake not to make a hostile bid for Engelhard. BASF, which has so far been hostile in its approach, is undecided whether to sign the confidentiality agreement or not. It may also raise its offer for Engelhard from the current $37/share. BASF’s Ebitda climbed 7%, to €8.2 bn ($9.8 bn), on sales up 14%, to €42.7 bn. Ebitda for 4Q 2005 was flat at €1.6 bn, on sales up 16% to €11.7 bn. Ebit from North American operations rose threefold, to €855 M, on sales up 17%, to €9.5 bn. The company intends to save another $150 M/y with a new regional efficiency project due for completion in mid-2007. Chemical Week, 22 Feb 2006 (Website: http://www.chemweek.com)
Catalytica losses in 3Q 2005 For its 3Q 2005 (ends 30 Sep 2005), Catalytica Energy Systems Inc has reported turnover of $868,000 ($1.942 M for its 3Q 2004), R&D costs of $2.147 M ($1.792 M), an operating loss of $4.973 M (operating loss of $2.722 M), a net loss of $4.852 M ($2.696 M), and a loss per share of $0.27 (loss per share of $0.15). For the first nine months of its fiscal 2005, the company has reported turnover of $2.928 M ($4.028 M for its 3Q 2004), R&D costs of $5.672 M ($5.677 M), an operating loss of $12.239 M (operating loss of $10.084 M), a net loss of $11.88 M ($9.941 M), and a
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loss per share of $0.66 (loss per share of $0.56). Catalytica Form 10-Q 2005, 10 Nov 2005, 3 (Catalytica Energy Systems Inc, 430 Ferguson Drive, Bldg 3, Mountain View, CA 94043, USA. Tel: +1 650 960 3000. website: http://www.catalyticaenergy.com)
Chiral Quest takes a surprising turn A detailed discussion of the business of chiral catalysts producer Chiral Quest covering: overview, expansion of manufacturing in China, the company’s business model, R&D, and products (Binapine, Binaphane, TangPhos). Chemical Market Reporter, 6 Mar 2006 (Website: http://www.chemicalmarketreporter.com)
Diversa and BASF form broad alliance to develop innovative new products Diversa Corp and BASF have entered into a broad alliance that will leverage Diversa’s leadership position in novel enzyme development and BASF’s expertise in biotechnology, process development, product applications, and global marketing and distribution. Under the agreement, Diversa will be responsible for discovery and optimisation of new enzymes, and BASF will be responsible for product and process development and all commercialisation matters. The new agreement is a significant expansion of the relationship between Diversa and BASF that began in 2001 with a collaborative agreement to develop biocatalysts Press release from: Diversa Corp, 4955, Directors Place, San Diego, CA 92121-1609, USA. Tel: +1 858 526 5000. Fax: +1 858 526 5551. E-mail: [email protected]. Website: http://www.diversa.com & from: BASF, 100 Campus Drive, Florham Park, NJ 07932, USA. Tel: +1 800 526 1072. Website: http://www.basf.com (16 Feb 2006)
Engelhard 2005 income up almost 4% Engelhard’s 2005 full-year income from continuing operations grew by almost 4% to $246 M on sales of $4.6 bn, a 12% increase from 2004. The company’s goal for 2006 is to achieve double-digit earnings hike from its technology segments and a 13% return on average capital. ICIS Chemical Business, 13 Feb 2006 (Website: http://icischemicalbusiness.com) & Chemical Week, 8 Feb 2006 (Website: http://www.chemweek.com) & Handelsblatt Wirtschafts- und Finanzzeitung, 2 Feb 2006 (Website: http://www.handelsblatt.com) (in German)
Engelhard given more time BASF’s $37/share hostile tender offer for Engelhard has been extended until 3 Mar 2006 from the original schedule of 6 Feb 2006. Necessary European antitrust and other regulatory approvals are expected to be obtained by end of Feb 2006. As of 3 Feb 2006, BASF had purchased 54,896 Engelhard shares, less than 1%. Shares have traded more than $37/share upon BASF’s announcement of a takeover bid on 3 Jan 2006. Chemical Week, 15 Feb 2006 (Website: http://chemweek.com) & Chemical Market Reporter, 27 Feb 2006 (Website: http://www.chemicalmarketreporter.com) & Handelsblatt Wirtschafts- und Finanzzeitung, 6 Feb 2006 (Website: http://www.handelsblatt.com) (in German) & Nachrichten für Aussenhandel, 7 Feb 2006, 69 (27), 1 (in German) & Handelsblatt Wirtschafts- und Finanzzeitung, 22 Feb 2006, (38), 13 (in German)
Engelhard boosts stake in India jv for environment technologies Engelhard Corporation announced today it has increased its stake to 90% in Engelhard Environmental Systems (India) Private Limited, an environmental technologies jv. Engelhard purchased the 30% share previously owned by UCAL Fuel Systems Limited. The remaining 10% is owned by NE Chemcat Corporation, a publicly traded Japanese corporation, of which Engelhard owns 42.2%. NE Chemcat is a leading producer of automotive and chemical catalysts. The jv currently produces emission-control technologies for automotive and motorcycle applications. The operations primarily serve the rapidly growing Indian market. Press release from: Engelhard, Iselin, NJ, USA. Tel: 732 205 6360. Website: http://www.engelhard.com (3 Jan 2006) & Chemical Weekly, 17 Jan 2006, 51 (22), 124
Genzyme reports 4Q and full year 2005 financial results Genzyme Corp reported 4Q and year ended Dec 2005 financial results. The company also provided guidance for 2006. GAAP net income increased to $106.6 M for 4Q 2005 (net loss of $157.3 M in 4Q 2004). For 2005, GAAP net income was $441.5 M (net income of $86.5 M in 2004). For 4Q 2005, revenue was $728.7 M (+23%
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BASF steps closer to Engelhard deal: reports record profits for 2005 BASF is studying a draft of a confidentiality agreement drawn up by Engelhard. Signing the agreement would allow BASF to clearly examine Engelhard’s financial data, but also require the company to undertake not to make a hostile bid for Engelhard. BASF, which has so far been hostile in its approach, is undecided whether to sign the confidentiality agreement or not. It may also raise its offer for Engelhard from the current $37/share. BASF’s Ebitda climbed 7%, to €8.2 bn ($9.8 bn), on sales up 14%, to €42.7 bn. Ebitda for 4Q 2005 was flat at €1.6 bn, on sales up 16% to €11.7 bn. Ebit from North American operations rose threefold, to €855 M, on sales up 17%, to €9.5 bn. The company intends to save another $150 M/y with a new regional efficiency project due for completion in mid-2007. Chemical Week, 22 Feb 2006 (Website: http://www.chemweek.com)
Catalytica losses in 3Q 2005 For its 3Q 2005 (ends 30 Sep 2005), Catalytica Energy Systems Inc has reported turnover of $868,000 ($1.942 M for its 3Q 2004), R&D costs of $2.147 M ($1.792 M), an operating loss of $4.973 M (operating loss of $2.722 M), a net loss of $4.852 M ($2.696 M), and a loss per share of $0.27 (loss per share of $0.15). For the first nine months of its fiscal 2005, the company has reported turnover of $2.928 M ($4.028 M for its 3Q 2004), R&D costs of $5.672 M ($5.677 M), an operating loss of $12.239 M (operating loss of $10.084 M), a net loss of $11.88 M ($9.941 M), and a
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loss per share of $0.66 (loss per share of $0.56). Catalytica Form 10-Q 2005, 10 Nov 2005, 3 (Catalytica Energy Systems Inc, 430 Ferguson Drive, Bldg 3, Mountain View, CA 94043, USA. Tel: +1 650 960 3000. website: http://www.catalyticaenergy.com)
Chiral Quest takes a surprising turn A detailed discussion of the business of chiral catalysts producer Chiral Quest covering: overview, expansion of manufacturing in China, the company’s business model, R&D, and products (Binapine, Binaphane, TangPhos). Chemical Market Reporter, 6 Mar 2006 (Website: http://www.chemicalmarketreporter.com)
Diversa and BASF form broad alliance to develop innovative new products Diversa Corp and BASF have entered into a broad alliance that will leverage Diversa’s leadership position in novel enzyme development and BASF’s expertise in biotechnology, process development, product applications, and global marketing and distribution. Under the agreement, Diversa will be responsible for discovery and optimisation of new enzymes, and BASF will be responsible for product and process development and all commercialisation matters. The new agreement is a significant expansion of the relationship between Diversa and BASF that began in 2001 with a collaborative agreement to develop biocatalysts Press release from: Diversa Corp, 4955, Directors Place, San Diego, CA 92121-1609, USA. Tel: +1 858 526 5000. Fax: +1 858 526 5551. E-mail: [email protected]. Website: http://www.diversa.com & from: BASF, 100 Campus Drive, Florham Park, NJ 07932, USA. Tel: +1 800 526 1072. Website: http://www.basf.com (16 Feb 2006)
Engelhard 2005 income up almost 4% Engelhard’s 2005 full-year income from continuing operations grew by almost 4% to $246 M on sales of $4.6 bn, a 12% increase from 2004. The company’s goal for 2006 is to achieve double-digit earnings hike from its technology segments and a 13% return on average capital. ICIS Chemical Business, 13 Feb 2006 (Website: http://icischemicalbusiness.com) & Chemical Week, 8 Feb 2006 (Website: http://www.chemweek.com) & Handelsblatt Wirtschafts- und Finanzzeitung, 2 Feb 2006 (Website: http://www.handelsblatt.com) (in German)
Engelhard given more time BASF’s $37/share hostile tender offer for Engelhard has been extended until 3 Mar 2006 from the original schedule of 6 Feb 2006. Necessary European antitrust and other regulatory approvals are expected to be obtained by end of Feb 2006. As of 3 Feb 2006, BASF had purchased 54,896 Engelhard shares, less than 1%. Shares have traded more than $37/share upon BASF’s announcement of a takeover bid on 3 Jan 2006. Chemical Week, 15 Feb 2006 (Website: http://chemweek.com) & Chemical Market Reporter, 27 Feb 2006 (Website: http://www.chemicalmarketreporter.com) & Handelsblatt Wirtschafts- und Finanzzeitung, 6 Feb 2006 (Website: http://www.handelsblatt.com) (in German) & Nachrichten für Aussenhandel, 7 Feb 2006, 69 (27), 1 (in German) & Handelsblatt Wirtschafts- und Finanzzeitung, 22 Feb 2006, (38), 13 (in German)
Engelhard boosts stake in India jv for environment technologies Engelhard Corporation announced today it has increased its stake to 90% in Engelhard Environmental Systems (India) Private Limited, an environmental technologies jv. Engelhard purchased the 30% share previously owned by UCAL Fuel Systems Limited. The remaining 10% is owned by NE Chemcat Corporation, a publicly traded Japanese corporation, of which Engelhard owns 42.2%. NE Chemcat is a leading producer of automotive and chemical catalysts. The jv currently produces emission-control technologies for automotive and motorcycle applications. The operations primarily serve the rapidly growing Indian market. Press release from: Engelhard, Iselin, NJ, USA. Tel: 732 205 6360. Website: http://www.engelhard.com (3 Jan 2006) & Chemical Weekly, 17 Jan 2006, 51 (22), 124
Genzyme reports 4Q and full year 2005 financial results Genzyme Corp reported 4Q and year ended Dec 2005 financial results. The company also provided guidance for 2006. GAAP net income increased to $106.6 M for 4Q 2005 (net loss of $157.3 M in 4Q 2004). For 2005, GAAP net income was $441.5 M (net income of $86.5 M in 2004). For 4Q 2005, revenue was $728.7 M (+23%
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