- Email: [email protected]
Crompton will end production at Naugatuck
Additives,f&
Polvniers
Huntsman Tioxide is using the K 2001 show to introduce its new titanium dioxide grade, Tioxide TR28. The company says the grade represents the latest development for products for the masterbatch industry. It has been specially designed to meet the most demanding requirements of masterbatch producers and offers a higher level of performance than was previously available, says Tioxide. Tioxide TR28 is claimed to offer a wide range of benefits for masterbatch processing techniques such as co-extrusion, extrusion coating, cast film and blown film. Mineral and organic coatings have been specially designed to minimize the emission of the volatiles that contribute to problems such as die build-up and, in extreme cases, lacing. Contact: Atyfina, 4-K cows Michelet, Lu Dcjfense IO, 92091 Paris La Defense cedex, Frunce; tel: +33-1-4900-X080; ,fax: +33-14900-8396; e-niuil: [email protected] Or contact: Dead Sea Bromine Conzpmv Ltd, MukleffHouse, I2 Kroitzer Street, PO Box 1X0. Beer Shevu 84lOI, Israel; tel: +972-86297875; ,fas: +972-86297645; e-mail: FRirifi,@d.sbg.coni Or contact: Tioxide Europe Ltd. Tees Road, Hurtlepool TS25 ZDD, UK; tel. +44-(O) 1642545454:,fin:
+44-(0)1642-54553X
COMPANY
STRATEGIES
Cytec completes BP carbon fibre acquisition NJ-based Cytec Industries has completed its acquisition of the assets of BP’s carbon tibre business, for an undisclosed sum (see Additives fir Pol_vmers, August 2001, p. 2). Sales of the BP business in the first half of 2001 were US$l7 million, of which 50% went to Cytec. David Lilley, Cytec chairman, president and CEO said that the acquisition enhances Cytec Fiberite’s ability to maintain a high-quality, low-cost, uninterrupted supply of carbon fibre for its customers. Cytec Fiberite manufactures aerospace composites and structural film adhesives, and had sales of $4 12 million in 2000.
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Contact: Cjtec industries Inc. 5 Garret Mozrntuin Plaza, West Purerson, NJ 07424, USA; tel: +I-973-357-3100; ,f&: +I-973-3573060.
Great Lakes raises price of antimony trioxide Great Lakes Chemical Corp has announced a price increase, effective immediately, for all its grades of antimony trioxides in the Americas. The price for TMS@, Timonox’K, TRUTINTfK. MICROFINELR’ and other grades, will be increased by US$O.22 per lb. Concurrently, pricing for these products will increase by $500 per metric tonne in Europe and the Asia-Pacific region. Other antimony derivatives will also increase, dependent on antimony content. The new pricing reflects recent increases in the London Metal Bulletin value for antimony metal and its impact on the cost of finished antimony derivatives, the company says. Contact: Great Lakes Chemical Coup, PO Box 2200, I Great Lakes Boulevmd West Lyfa?ette, Indianapolis, IN 479065394, USA; tel: +I317-7/5-300O;,fax: +I-765-497-6316.
Crompton will end production at Naugatuck Crompton Corp is to cease production of speciality chemicals at its Naugatuck, CT, facility. The move is part of the company’s recently announced programme to eliminate US$60 million in costs by the end of 2002. Production will be phased out through 2002, with the loss of about 165 jobs. There are currently 65 positions in research and development and technical service that will continue to be located in Naugatuck. The facility produces Uniroyal Chemical products for the company’s rubber, polymer additives and crop protection businesses. Production will be moved to other Crompton locations around the world. “Overall trends in the global economy and specialty chemical industry have made it necessary for us to consolidate our worldwide manufacturing operations,” said Walter Ruck, senior vice president of operations.
0200 1 Elsevier Science
October 2001
The company plans to demolish 35 production buildings on the 87-acre site and will work with federal, state and local authorities to decommission the site in accordance with all environmental regulations. Other plants to be closed as part of the restructuring are Edison, Newark and Nutley in New Jersey, and Huddersfield and Luton in the UK. Contact: Crmnpton Corporation, I American Lane, Gwemvich, CT 06831-2559, USA; tel: +I-203-552-2000
FINANCIALS Bayer’s first half sales rise but earnings fall Sales from Bayer’s continuing operations rose 8% in the first half of 2001 compared with the same period last year, totalling e15.6 billion. However, net income fell 3% to El.0 billion earnings. The decline is attributed to temporary production problems for some biological products, the sustained high cost of raw materials ~ especially in the Polymers segment - and a drop in demand from major customer sectors such as the automotive, electrical and construction industries. Company chairman Dr Manfred Schneider anticipates that full-year profits will be significantly below target as the anticipated economic recovery has not materialized. The company has launched a number of programmes aimed at savings of cl.5 billion by 2005. In the Polymers segment, which includes Bayer’s colorants products as well as coatings, plastics, rubbers and fibres, sales for the six months were up 9% to e5.7 billion. But high raw material costs and lower production volumes combined to reduce operating earnings to eO.4 billion, down 28% compared to the same period in 2000. All the business groups in this segment have embarked on aggressive programmes to improve margins which will lead to annual savings of up to c700 million a year by 2005. The raw materials situation is predicted to ease slightly before the end of the year, and the economic climate should improve early in 2002.
02001 Elsevier Science
Additives,f&
Polymers
Sales for the Chemicals segment grew 19% to e2.5 billion and operating earnings were up 18% to eO.3 billion. Within this segment, the Specialty Products Business Group, which includes Bayer’s polymer additives operations, posted 22% higher sales, largely due to acquisitions. Contact: Buyer ilG, Wtv-k Leverhuen, D-51368 Leverkusen, Germun~~; tel: +49-21-335123788: f&x: +49-21-33.51-23323.
Ciba Specialty Chemicals delivers solid performance Ciba Specialty Chemicals achieved a 3% increase in net income to CHF222 million (cl 50 million) for the first half of 200 1, despite the difftcult economic environment and less favourable currency rates. Compared to the record first half of 2000, sales for the six months were 1% lower in local currencies, and 4% lower in Swiss francs at CHF3.856 billion. However, the volume of sales was maintained. The company reported that sales in some regions and end-markets were weak across the first half, with Europe showing some areas of weakness towards the end of the second quarter. However, it expects net income for the full year to reach or exceed the previous year. Looking further ahead, the company has set new financial goals for the years 2002 to 2005, including an average annual sales growth of 6% and improved profitability by 2005. As with most companies in the chemicals sector, Ciba Specialty Chemicals has initiated various measures within the six month period to improve efficiency. This included a realignment of its business operational activities alongside customer industries, forming five segments. The former divisional layer has thus been eliminated, and efficiency is being improved by harmonizing several support areas. Levels of expenditure on R&D have been maintained. The newly created Plastic Additives Segment outperformed the market during the first half of 2001, both in sales and profitability, in spite of weak market conditions in key global markets, the company says. The Segment achieved the same high sales in local currencies as during the first half of 2000. Sales in Swiss francs totaled
5
Polvniers
Huntsman Tioxide is using the K 2001 show to introduce its new titanium dioxide grade, Tioxide TR28. The company says the grade represents the latest development for products for the masterbatch industry. It has been specially designed to meet the most demanding requirements of masterbatch producers and offers a higher level of performance than was previously available, says Tioxide. Tioxide TR28 is claimed to offer a wide range of benefits for masterbatch processing techniques such as co-extrusion, extrusion coating, cast film and blown film. Mineral and organic coatings have been specially designed to minimize the emission of the volatiles that contribute to problems such as die build-up and, in extreme cases, lacing. Contact: Atyfina, 4-K cows Michelet, Lu Dcjfense IO, 92091 Paris La Defense cedex, Frunce; tel: +33-1-4900-X080; ,fax: +33-14900-8396; e-niuil: [email protected] Or contact: Dead Sea Bromine Conzpmv Ltd, MukleffHouse, I2 Kroitzer Street, PO Box 1X0. Beer Shevu 84lOI, Israel; tel: +972-86297875; ,fas: +972-86297645; e-mail: FRirifi,@d.sbg.coni Or contact: Tioxide Europe Ltd. Tees Road, Hurtlepool TS25 ZDD, UK; tel. +44-(O) 1642545454:,fin:
+44-(0)1642-54553X
COMPANY
STRATEGIES
Cytec completes BP carbon fibre acquisition NJ-based Cytec Industries has completed its acquisition of the assets of BP’s carbon tibre business, for an undisclosed sum (see Additives fir Pol_vmers, August 2001, p. 2). Sales of the BP business in the first half of 2001 were US$l7 million, of which 50% went to Cytec. David Lilley, Cytec chairman, president and CEO said that the acquisition enhances Cytec Fiberite’s ability to maintain a high-quality, low-cost, uninterrupted supply of carbon fibre for its customers. Cytec Fiberite manufactures aerospace composites and structural film adhesives, and had sales of $4 12 million in 2000.
4
Contact: Cjtec industries Inc. 5 Garret Mozrntuin Plaza, West Purerson, NJ 07424, USA; tel: +I-973-357-3100; ,f&: +I-973-3573060.
Great Lakes raises price of antimony trioxide Great Lakes Chemical Corp has announced a price increase, effective immediately, for all its grades of antimony trioxides in the Americas. The price for TMS@, Timonox’K, TRUTINTfK. MICROFINELR’ and other grades, will be increased by US$O.22 per lb. Concurrently, pricing for these products will increase by $500 per metric tonne in Europe and the Asia-Pacific region. Other antimony derivatives will also increase, dependent on antimony content. The new pricing reflects recent increases in the London Metal Bulletin value for antimony metal and its impact on the cost of finished antimony derivatives, the company says. Contact: Great Lakes Chemical Coup, PO Box 2200, I Great Lakes Boulevmd West Lyfa?ette, Indianapolis, IN 479065394, USA; tel: +I317-7/5-300O;,fax: +I-765-497-6316.
Crompton will end production at Naugatuck Crompton Corp is to cease production of speciality chemicals at its Naugatuck, CT, facility. The move is part of the company’s recently announced programme to eliminate US$60 million in costs by the end of 2002. Production will be phased out through 2002, with the loss of about 165 jobs. There are currently 65 positions in research and development and technical service that will continue to be located in Naugatuck. The facility produces Uniroyal Chemical products for the company’s rubber, polymer additives and crop protection businesses. Production will be moved to other Crompton locations around the world. “Overall trends in the global economy and specialty chemical industry have made it necessary for us to consolidate our worldwide manufacturing operations,” said Walter Ruck, senior vice president of operations.
0200 1 Elsevier Science
October 2001
The company plans to demolish 35 production buildings on the 87-acre site and will work with federal, state and local authorities to decommission the site in accordance with all environmental regulations. Other plants to be closed as part of the restructuring are Edison, Newark and Nutley in New Jersey, and Huddersfield and Luton in the UK. Contact: Crmnpton Corporation, I American Lane, Gwemvich, CT 06831-2559, USA; tel: +I-203-552-2000
FINANCIALS Bayer’s first half sales rise but earnings fall Sales from Bayer’s continuing operations rose 8% in the first half of 2001 compared with the same period last year, totalling e15.6 billion. However, net income fell 3% to El.0 billion earnings. The decline is attributed to temporary production problems for some biological products, the sustained high cost of raw materials ~ especially in the Polymers segment - and a drop in demand from major customer sectors such as the automotive, electrical and construction industries. Company chairman Dr Manfred Schneider anticipates that full-year profits will be significantly below target as the anticipated economic recovery has not materialized. The company has launched a number of programmes aimed at savings of cl.5 billion by 2005. In the Polymers segment, which includes Bayer’s colorants products as well as coatings, plastics, rubbers and fibres, sales for the six months were up 9% to e5.7 billion. But high raw material costs and lower production volumes combined to reduce operating earnings to eO.4 billion, down 28% compared to the same period in 2000. All the business groups in this segment have embarked on aggressive programmes to improve margins which will lead to annual savings of up to c700 million a year by 2005. The raw materials situation is predicted to ease slightly before the end of the year, and the economic climate should improve early in 2002.
02001 Elsevier Science
Additives,f&
Polymers
Sales for the Chemicals segment grew 19% to e2.5 billion and operating earnings were up 18% to eO.3 billion. Within this segment, the Specialty Products Business Group, which includes Bayer’s polymer additives operations, posted 22% higher sales, largely due to acquisitions. Contact: Buyer ilG, Wtv-k Leverhuen, D-51368 Leverkusen, Germun~~; tel: +49-21-335123788: f&x: +49-21-33.51-23323.
Ciba Specialty Chemicals delivers solid performance Ciba Specialty Chemicals achieved a 3% increase in net income to CHF222 million (cl 50 million) for the first half of 200 1, despite the difftcult economic environment and less favourable currency rates. Compared to the record first half of 2000, sales for the six months were 1% lower in local currencies, and 4% lower in Swiss francs at CHF3.856 billion. However, the volume of sales was maintained. The company reported that sales in some regions and end-markets were weak across the first half, with Europe showing some areas of weakness towards the end of the second quarter. However, it expects net income for the full year to reach or exceed the previous year. Looking further ahead, the company has set new financial goals for the years 2002 to 2005, including an average annual sales growth of 6% and improved profitability by 2005. As with most companies in the chemicals sector, Ciba Specialty Chemicals has initiated various measures within the six month period to improve efficiency. This included a realignment of its business operational activities alongside customer industries, forming five segments. The former divisional layer has thus been eliminated, and efficiency is being improved by harmonizing several support areas. Levels of expenditure on R&D have been maintained. The newly created Plastic Additives Segment outperformed the market during the first half of 2001, both in sales and profitability, in spite of weak market conditions in key global markets, the company says. The Segment achieved the same high sales in local currencies as during the first half of 2000. Sales in Swiss francs totaled
5