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Crompton and Great Lakes agree to merger
FOCUS ($6.028 M in 4Q 2003) and $25.969 M for 2004 ($24.718 M in 2003). Press release from: Stepan Co, 22, West Frontage Road, Northfield, IL 60093, USA. Tel: +1 847 446 7500. Fax: +1 847 501 2100. Website: http://www.stepan.com (10 Feb 2005)
Huntsman releases 4Q and full year 2004 results Huntsman Corp reported revenues for 4Q 2004 of $3128.1 M ($2369.8 M in 4Q 2003) and for 2004 of $11,485.8 M ($9252.4 M in 2003). Net loss for 4Q 2004 was $1.2 M (net loss of $105.6 M in 4Q 2003) and for 2004 net loss was $227.7 M (net loss of $426.1 M in 2003). Revenues from the Performance Products segment for 4Q 2004 were $528.1 M ($423.3 M in 4Q 2003) and for 2004 were $1927.8 M ($1689.6 M in 2003). The increase was primarily the result of higher average selling prices for all products and a 3% increase in sales volumes. Stronger sales volumes for amines and maleic anhydride were partially offset by lower sales volumes for surfactants and LAB primarily resulting from weak customer demand and increased competition in the marketplace. Ebitda is expected to rise from $1.23 bn in 2004 to $1.525 bn in 2005. In related news, the company’s IPO of a 27% stake raised around $1.45 bn in early Feb 2005. Proceeds will be used to repay debt. Press release from: Huntsman Corp, 3040, Post Oak Boulevard, Houston, TX 77056, USA. Tel: +1 713 235 6000. Fax: +1 713 235 6416. Website: http://www.huntsman.com (10 Mar 2005) & Chemical Week, 16 Feb 2005, 167 (6), (Website: http://www.chemweek.com)
Good half year for Sasol For 2H 2004 (1H of its financial year) Sasol registered increases of 65% and 13% in its operating profits and turnover to Rand 6.55 bn and Rand 33.8 bn, respectively, thanks to an increase in crude oil prices and better margins in its chemicals operations. The company is less optimistic about 1H 2005, although it expects a similar performance to that of 2H 2004. The group’s olefins and surfactants division registered operating losses of Rand 131 M (compared with losses of Rand 38 M for 2H 2003) because of high feedstock costs and an exceptional charge of Rand 123 M. Excluding this element, the division MAY 2005
ON
S U R FA C TA N T S
benefited from the improvement in market conditions. Elsewhere, Sasol has denied that it is reviewing its investments in the loss-making German olefins, surfactants and solvents company, Condea. The South African press claims that Sasol will reconsider its investment if the price of oil stays above $40/barrel. Chimie Pharma Hebdo, 21 Mar 2005, (292), 12 (in French) & European Chemical News, 14 Mar 2005, 82 (2138), 7
Unilever 2004 review For its fiscal 2004, Unilever plc has reported sales of €40.4 bn (€42.9 bn for its fiscal 2003), operating profit of €3.5 bn (€5.5 bn), and operating profit BEIA of €6.1 bn (€6.8 bn). The company’s Home and Personal Care division reported 2004 turnover of €17,408 M (€18,383 M for its fiscal 2003) and operating profit of €2157 M (€2766 M). Within that division, the Home Care segment reported turnover of €6782 M (€7230 M for its fiscal 2003) and operating profit of €600 M (€908 M). Unilever Annual Report 2004, 1 Mar 2005, 9,34-37 (Unilever plc, PO Box 68, Unilever House, Blackfriars, London, EC4P 4BQ, UK. Tel: +44 20 7822 5252. Fax: +44 20 7822 5951. Website: http://www.unilever.com)
COMPANY NEWS Kematen buys Wella, Sara Lee plants Kematen Cosmetics, a contract manufacturer, has bought Wella AG’s production facility in Lenzkirch, southwest Germany. Wella sold its hair dye facility and product assortment having a staff of 89 due to strategic factors. Kematen also purchased a tensides and emulsions manufacturing facility in Düsseldorf from US group Sara Lee. Kematen primarily manufactures aerosols and liquids. It expects an 18% growth in turnover to €38 M for 2005.
Great Lakes Chemical (GLCC) and Crompton which will establish the world’s third largest speciality chemical company with sales of over $4.1 bn/y. Crompton is expected to hold 51% of the new venture with 49% being held by GLCC. Sales of resin additives, petroleum additives, polymer and rubber products and agrochemicals by Crompton amount to $2550 M, with sales of water treatment chemicals, domestic cleaners, flame retardants and resin stabilizers by GLCC being $1600 M. The merger is expected to be concluded by the end of 2005. Japan Chemical Week, 24 Mar 2005, 46 (2311), 12
Hind Lever arm to buy parent’s soap plant In India, Bon Ltd, a wholly owned subsidiary of Hindustan Lever Ltd (HLL), will acquire the parent company’s soap and soap intermediates manufacturing plant at Sewri [Focus on Surfactants, Feb 2005] as a going concern, retaining all staff. In related news, HLL has invested about Rup 1.3 bn to set up a 30,000 tonnes/y plant at Haridwar in Uttaranchal, and plans to use the facility mainly to make toothpaste, skin cream and lotion, shampoo, face and body wash products in smallpacks. This facility, with a workforce of 350, is to service primarily the markets in the northern region, which accounts for 25% of HLL’s personal products sales. Business Line, 17 Feb 2005, 12 (47), 13 & 28 Feb 2005, 12 (58), 5
Godrej: India is a good place for exports of oleochemicals
Crompton and Great Lakes agree to merger
Nadir Godrej, the Managing Director of Godrej Industries Ltd, believes India is fast emerging as a major exporter of oleochemicals. The uptrend witnessed in the economy and the competitiveness of the Indian manufacturing sector has prompted several major global companies such as Unilever to source their requirements from India. Godrej leads the Indian market in production of oleochemical-based fatty acids, fatty alcohols and surfactants like alphaolefin sulfonate.
A merger has been agreed between
Chemical Weekly, 8 Mar 2005, 50 (29), 189-192
SPC, Soap Perfumery and Cosmetics, Mar 2005, 178 (3), 6
7
Huntsman releases 4Q and full year 2004 results Huntsman Corp reported revenues for 4Q 2004 of $3128.1 M ($2369.8 M in 4Q 2003) and for 2004 of $11,485.8 M ($9252.4 M in 2003). Net loss for 4Q 2004 was $1.2 M (net loss of $105.6 M in 4Q 2003) and for 2004 net loss was $227.7 M (net loss of $426.1 M in 2003). Revenues from the Performance Products segment for 4Q 2004 were $528.1 M ($423.3 M in 4Q 2003) and for 2004 were $1927.8 M ($1689.6 M in 2003). The increase was primarily the result of higher average selling prices for all products and a 3% increase in sales volumes. Stronger sales volumes for amines and maleic anhydride were partially offset by lower sales volumes for surfactants and LAB primarily resulting from weak customer demand and increased competition in the marketplace. Ebitda is expected to rise from $1.23 bn in 2004 to $1.525 bn in 2005. In related news, the company’s IPO of a 27% stake raised around $1.45 bn in early Feb 2005. Proceeds will be used to repay debt. Press release from: Huntsman Corp, 3040, Post Oak Boulevard, Houston, TX 77056, USA. Tel: +1 713 235 6000. Fax: +1 713 235 6416. Website: http://www.huntsman.com (10 Mar 2005) & Chemical Week, 16 Feb 2005, 167 (6), (Website: http://www.chemweek.com)
Good half year for Sasol For 2H 2004 (1H of its financial year) Sasol registered increases of 65% and 13% in its operating profits and turnover to Rand 6.55 bn and Rand 33.8 bn, respectively, thanks to an increase in crude oil prices and better margins in its chemicals operations. The company is less optimistic about 1H 2005, although it expects a similar performance to that of 2H 2004. The group’s olefins and surfactants division registered operating losses of Rand 131 M (compared with losses of Rand 38 M for 2H 2003) because of high feedstock costs and an exceptional charge of Rand 123 M. Excluding this element, the division MAY 2005
ON
S U R FA C TA N T S
benefited from the improvement in market conditions. Elsewhere, Sasol has denied that it is reviewing its investments in the loss-making German olefins, surfactants and solvents company, Condea. The South African press claims that Sasol will reconsider its investment if the price of oil stays above $40/barrel. Chimie Pharma Hebdo, 21 Mar 2005, (292), 12 (in French) & European Chemical News, 14 Mar 2005, 82 (2138), 7
Unilever 2004 review For its fiscal 2004, Unilever plc has reported sales of €40.4 bn (€42.9 bn for its fiscal 2003), operating profit of €3.5 bn (€5.5 bn), and operating profit BEIA of €6.1 bn (€6.8 bn). The company’s Home and Personal Care division reported 2004 turnover of €17,408 M (€18,383 M for its fiscal 2003) and operating profit of €2157 M (€2766 M). Within that division, the Home Care segment reported turnover of €6782 M (€7230 M for its fiscal 2003) and operating profit of €600 M (€908 M). Unilever Annual Report 2004, 1 Mar 2005, 9,34-37 (Unilever plc, PO Box 68, Unilever House, Blackfriars, London, EC4P 4BQ, UK. Tel: +44 20 7822 5252. Fax: +44 20 7822 5951. Website: http://www.unilever.com)
COMPANY NEWS Kematen buys Wella, Sara Lee plants Kematen Cosmetics, a contract manufacturer, has bought Wella AG’s production facility in Lenzkirch, southwest Germany. Wella sold its hair dye facility and product assortment having a staff of 89 due to strategic factors. Kematen also purchased a tensides and emulsions manufacturing facility in Düsseldorf from US group Sara Lee. Kematen primarily manufactures aerosols and liquids. It expects an 18% growth in turnover to €38 M for 2005.
Great Lakes Chemical (GLCC) and Crompton which will establish the world’s third largest speciality chemical company with sales of over $4.1 bn/y. Crompton is expected to hold 51% of the new venture with 49% being held by GLCC. Sales of resin additives, petroleum additives, polymer and rubber products and agrochemicals by Crompton amount to $2550 M, with sales of water treatment chemicals, domestic cleaners, flame retardants and resin stabilizers by GLCC being $1600 M. The merger is expected to be concluded by the end of 2005. Japan Chemical Week, 24 Mar 2005, 46 (2311), 12
Hind Lever arm to buy parent’s soap plant In India, Bon Ltd, a wholly owned subsidiary of Hindustan Lever Ltd (HLL), will acquire the parent company’s soap and soap intermediates manufacturing plant at Sewri [Focus on Surfactants, Feb 2005] as a going concern, retaining all staff. In related news, HLL has invested about Rup 1.3 bn to set up a 30,000 tonnes/y plant at Haridwar in Uttaranchal, and plans to use the facility mainly to make toothpaste, skin cream and lotion, shampoo, face and body wash products in smallpacks. This facility, with a workforce of 350, is to service primarily the markets in the northern region, which accounts for 25% of HLL’s personal products sales. Business Line, 17 Feb 2005, 12 (47), 13 & 28 Feb 2005, 12 (58), 5
Godrej: India is a good place for exports of oleochemicals
Crompton and Great Lakes agree to merger
Nadir Godrej, the Managing Director of Godrej Industries Ltd, believes India is fast emerging as a major exporter of oleochemicals. The uptrend witnessed in the economy and the competitiveness of the Indian manufacturing sector has prompted several major global companies such as Unilever to source their requirements from India. Godrej leads the Indian market in production of oleochemical-based fatty acids, fatty alcohols and surfactants like alphaolefin sulfonate.
A merger has been agreed between
Chemical Weekly, 8 Mar 2005, 50 (29), 189-192
SPC, Soap Perfumery and Cosmetics, Mar 2005, 178 (3), 6
7