Disappointing sales hit Witco results

Additives for Polymers

expansion at the other until June 1998,. It is also cutting capacity by one-third at its plant in Maryland, USA and has shelved plans to build the world’s largest TiO, plant in Australia;. Shares of Hanson group have fallen 24% since January, dropping to below the calculated break-up value of the group. SCM chairman Donald Borst said that the group planned to increase TiO, prices by 8% on October 1, restoring the January peak level - but there is some doubt in the industry that this level will be accepted. Oversupply is one factor; another is weakness of the paper industry (which uses TiO, in coatings). Another point (not mentioned in general reports) is the increasing competition from alternative and cheaper materials. Contact: ICIMaterials, Wilton Works, PO Box 90, Wilton TSii 8JE, UK; tel: +44-l 642 454144; fax: +44- I642 43 7384; SCM Chemicals, 7 St Paul St, Suite 1010, Baltimore MD 21202, USA; tel: + l-410 783 1120; fax: i-1-410 783 1087

Disappointing sales hit Witco results With sales less strong than had been expected, particularly on the home market, net earnings for the second quarter of 1996 will be below analysts’ published expectations, warns Witco Corporation. E Gary Cook, incoming chairman, president and chief executive officer said that the preliminary results were disappointing but reflecting the conditions in primary markets. Final results for the quarter are likely to be in the general range of net income of the same quarter of 1995. However, with completion of divestiture of the lubricants business and acceleration of integration of OSi Specialties, the company can better focus on markets and sales efforts, he added. Contact: Witco Corporation, One American Lane. Greenwich, CT 06831-2559, USA; tel: +I-203 552 2251 6

September 1996

OCF reports record - but European worries persist Record sales and earnings are reported by glass fibre manufacturer Owens Corning for the second quarter of 1996, driven especially by the US building materials business. Outside the USA, however, the picture is mixed, with possible bottoming-out of the Canadian economy but weakness in Europe, particularly in Germany and France, creating pricing pressures. The composite materials business improved in quality of earnings, as sales dropped 3 per cent, due to a slight shift in product mix in North America plus currency fluctuations and a softening of demand in Europe. Sales increased in Asia Pacific and Africa/Latin America. Net income for the second quarter was up lo%, to $69m, with 9% increase in sales, to $956m ($877m). Six months figures showed a 14% increase in earnings, to $108m (S95m). Contact: Owens Corning World HQ, Fiberglas Tower, Toledo, OH 43659, USA; tel: + I-419 248 8000

With competitive price, RK to double carbon fibre capacity With prices of carbon fibre falling to a level at which they are competitive with other materials, UK producer RR Carbon Fibre is planning a &1.5m development programme, to add 850-1000 tonnes/year to its present 1OOOtproduction capacity of oxidised fibre. Based near Inverness, Scotland, the plant is being expanded as a first stage from 320t to 640t, with plant and equipment designed in-house. Some 90% of production is exported, and RK claims to be the world-leader in supply of carbon fibre for aircraft braking systems (under the Panox brand name). Contact: RK Carbon Fibre Ltd, Inverness, Scotland 01996 Elsevier Science