Change at Cytec

F O C US and free cash flow before acquisitions reached DKR 387 M (1H 2008: DKR 289 M). Total costs excluding net financials and tax were DKR 3393 M (+2%). R&D costs rose by 10% to DKR 591 M (1H 2008: DKR 537 M), representing 14% of revenue. For 2Q 2009, sales totalled DKR 2037 M (2Q 2008: DKR 2033 M) and operating profits amounted to DKR 399 M (2Q 2008: DKR 377 M). Novozymes’ detergent enzyme sales totalled DKR 1307 M for 1H 2009 (1H 2008: DKR 1263 M). Detergent enzyme sales were negatively affected by consumers trading down to lower-end detergents containing fewer enzymes and by reduced consumption of detergents. There is a continued strong interest across the detergent industry in reformulating future detergents to include more enzymes in place of petrochemical ingredients. For 2Q 2009, detergent enzyme sales amounted to DKR 650 M (2Q 2008: 627 M). Looking at the different geographical regions, Europe, the Middle East and Africa accounted for sales of DKR 1508 M (1H 2008: DKR 1537 M), North America for DKR 1577 M (1H 2008: DKR 1477 M), the Asia Pacific region for DKR 796 M (1H 2008: DKR 763 M), and Latin America for DKR 282 M (1H 2008: DKR 282 M). Sales in Eastern Europe in particular experienced a challenging 1H 2009 due to the global recession and distributors’ financial difficulties. Sales of detergent enzymes and enzymes for ethanol production performed well. Novozymes Group Financial Statement 1H 2009, 13 Aug 2009, 1-8,14-20 (Novozymes A/S, Krogshojvej 36, 2880 Bagsvaerd, Denmark, tel: +45 4446 0000, fax: +45 4446 9999, e-mail: [email protected], website: http://www.novozymes.com)

Ultrapar profits down in 2Q 2009, expects improved sales for Oxiteno in 3Q 2009 Ultrapar’s net profits in 2Q 2009 fell 15% year on year to R$93 M ($49.5 M) due to a higher net debt brought on by investments in organic expansion and acquisitions. Net revenues of the Brazilian group were up 38% to R$9.62 bn. Ultrapar’s chemicals unit Oxiteno posted net revenues of R$473 M in 2Q 2009, up 6% from 2Q 2008. The revenue gain is credited to a higher sales volume and favourable exchange rate. In OCTOBER 2009

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volume terms, domestic sales were up 6% year on year because of healthy sales of speciality chemicals to the cosmetics, detergents and agrochemicals segments. BNAmericas Petrochemicals News, 17 Aug 2009, (Business News Americas Ltda, website: http://www.bnamericas.com)

COMPANY NEWS Change at Cytec Cytec Industries’ business segment reporting structure has been reorganized to fit the organizational adjustments implemented in 2Q 2009. The Cytec Speciality Chemicals operation now includes the Coating Resins, Additive Technologies and In Process Separation operating units. The firm now has five reportable operating divisions, namely, Coating Resins; Additive Technologies, which includes polymer additives and speciality additives (comprising anionic surfactants); In Process Separation, which covers mining and phosphine chemicals; Engineered Materials; and the Building Block Chemicals unit. Cytec posted a net loss of €17.5 M in 2Q 2009, on sales of €482 M. The decline was attributed mainly to the company’s reorganization measures. Cytec is optimistic that its structural cost-cutting initiative will have greater positive effect on its 2H 2009 earnings. PPCJ, Polymers, Paint, Colour Journal, Jul 2009, 199 (4538), 6

NXGen Holdings Inc changes name to Green Bridge Industries to better reflect business model NXGen Holdings Inc has changed its name to Green Bridge Industries Inc, following its recent acquisition of that company [Focus on Surfactants, Aug 2009]. It will now trade under the stock symbol GRBG. The company also recently announced that Delaney Equity Group LLC is facilitating a $2.5 M equity line of credit with a private group of investors. Green Bridge Industries offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of

the medical, agricultural, military, and retail markets. Press release from: NXGen Holdings, 70 Bridge St, Saranac, MI 48881, USA, tel: +1 616 560 8436, website: http://www.greenbridgeindustries.com (20 Aug 2009)

Tokuyama to widen product slate for Malaysian base Tokuyama Corp has commenced a study on utilizing its new Malaysian base for polycrystalline silicon as a growth hub for its chemical operations, building on the chemicals and by-products surrounding its manufacture of polycrystalline silicon. Topping the list of potential products are detergents, with silicon chloride compounds, silicon tetrachloride, monosilane gas, creating solutions and silica among the other candidates. The new Malaysian subsidiary is anticipated to generate sales of Yen 35 bn/y ($370 M/y), including sales from products that are not polycrystalline silicon. Japan Chemical Web, 18 Aug 2009, (Website: http://www.japanchemicalweb.jp)

One for the future: Univar Europe John van Osch, the new president of Univar Europe, is aiming to transform the chemical distribution firm via expansions, an enhanced customer focus, and increased sustainability. In addition to an expansion into Eastern Europe, Univar Europe is seeking opportunities for mergers or acquisitions in Turkey and is to establish a Dubai-based subsidiary to target the Middle East and Africa. Although the company operates via 50 distribution sites throughout Europe, it also has five laboratories that develop new applications and formulations for customers. The laboratories provide Univar Europe with the opportunity to become a sales and marketing company in the food sector (Brussels and Milton Keynes), personal care (Brussels) and detergents/shampoos and coatings (both at Middlesbrough). In France, Univar is spending €16 M on a consolidated distribution facility at Lyon, which will include new storage capacity for minerals, solvents and speciality chemicals from 2011. ICIS Chemical Business, 24 Aug 2009, (Website: http://icischemicalbusiness.com)

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