Haldor Topsoe 2006: financial highlights

FOCUS Local wheat to feed British bioethanol plant BP, DuPont, and Associated British Foods (ABF) will establish a jv to handle the construction and operation of a 330,000 tonne/y bioethanol plant at BP’s site at Saltend, UK. The plant, which will be built at a cost of £200 M ($400 M), will be fed with locally cultivated wheat and is expected to start up in late 2009. Aker Kvaerner has been commissioned to provide front-end engineering and design (FEED) services, and Praj Industries will supply the technology and process package. ABF subsidiary British Sugar and BP will each have a 45% stake in the jv, with DuPont holding the remaining 10%. A 55,000 tonne/y bioethanol plant in Wissington is currently being constructed by British Sugar. The unit is slated for startup in Jul 2007. A proposed biobutanol demonstration facility that will be funded and equally controlled by BP and DuPont will also be built at BP’s Saltend site. The plant could produce about 20,000 litre/y of biobutanol and will start operation in early 2009. ICIS Chemical Business, 2 Jul 2007 (Website: http://icischemicalbusiness.com) & Chemical & Engineering News, 2 Jul 2007, 85 (27), 8 & Chimie Pharma Hebdo, 2 Jul 2007, (388), 12

Genzyme reports significant earnings growth in 2Q 2007 Genzyme Corp reported that strong revenue growth and solid operating leverage drove a significant increase in 2Q ended Jun 2007 non-GAAP profits, continuing the momentum of the past several quarters. Revenue rose 18% to $933.4 M during 2Q 2007 ($793.4 M in 2Q 2006), driven once again by growth in most product areas. GAAP net income rose to $139.9 M or $0.51/diluted share during 2Q 2007 (GAAP net income of $134.5 M or $0.49/diluted share in 2Q 2006). Non-GAAP net income grew 32% to $238.7 M in 2Q 2007 (nonGAAP net income of $181.2 M in 2Q 2006). Non-GAAP earnings rose 30% to $0.88/diluted share during 2Q 2007 (non-GAAP earnings of $0.68 in 2Q 2006). Genzyme expects to exceed its 2007 non-GAAP earnings guidance of $3.20-$3.30/diluted share, given its strong results in 1H 2007. The company now expects non-

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GAAP earnings of $3.35-$3.40/diluted share for 2007. Based on its strong and consistent performance, the potential of its deep product portfolio, and the leverage from its global infrastructure, Genzyme anticipates that non-GAAP earnings will grow at a compound average of 20%/y from 2006 through 2011. Genzyme 2Q and 1H 2007 financials; guidance for 2007, 25 Jul 2007 (Genzyme Corp, One Kendall Square, Cambridge, MA 02139, USA. Tel: +1 617 252 7500. Fax: +1 617 252 7600. Website: http://www.genzyme.com)

Haldor Topsoe 2006: financial highlights For its fiscal 2006 (period ends 31 Dec 2006), Haldor Topsoe A/S has reported sales of DKR 3571 M (DKR 3076 M for its fiscal 2005), operating income of DKR 359 M (DKR 450 M), net income of DKR 280 M (DKR 304 M), capital investments of DKR 234 M (DKR 130 M), and headcount of 1611 (1550). Haldor Topsoe A/S Annual Report 2006, 15 Mar 2007, 5-7 (Haldor Topsoe A/S, Nymollevej 55, PO Box 213, DK 2800 Lyngby, Denmark. Tel: +45 4527 2000. Fax: +45 4527 2999. Website: http://www.haldortopsoe.com)

Nanomaterial catalysts Headwaters Technology Innovation Group (HTIG) collaborates with the University of Pennsylvania for nanotech R&D on characterization of nanomaterial catalysts. HTIG is the R&D segment of $1.1 bn (revenues) Headwaters Inc (HW), a construction materials and alternative energy firm. Nanotech Report (Forbes/Wolfe), May 2007, 6 (5), 3 (Website: http://www.forbesnanotech.com)

Johnson Matthey revenues in 2007 Johnson Matthey posted £6.2 bn in revenues for fiscal year 2006-2007 that ended on 31 Mar 2007. The company saw a 34% increase in revenue year on year. Operating profit for continuing businesses, before oneoff items, including the sale of its ceramics segment in Feb 2007, climbed by 18% to £252.4 M. A 10% increase to £242.6 M was also achieved in profit before tax, including discontinued businesses. Chemistry and Industry (London), 25 Jun 2007, (12), 13

Linde gets cracking with projects Plant capacities in the olefins sector have been gradually increasing. A graph shows how the capacity of new ethylene plants has increased from around 400,000 tonne/y in the 1970s to more than 1 M tonne/y in 2004. Projections indicate that plant sizes could reach 2 M tonne/y by 2020. Linde Engineering has already started conceptual design work on a 2 M tonne/y cracker. The use of new technology for both process and equipment design and for plant construction can facilitate a more rapid return on investment, reduced operational costs, and increased profit margins. The studies by Linde, which are discussed in detail, indicate that there are no fundamental reasons why ethylene crackers should not be scaled up to 2 M tonne/y. ICIS Chemical Business, 25 Jun 2007, 2 (72), 36-37

Lurgi now part of Air Liquide Air Liquide has now completed its acquisition of Lurgi for an enterprise value of €200 M. The integration of Lurgi into Air Liquide expands Air Liquide’s technology portfolio, especially in the field of hydrogen and synthesis gas production, biofuels, and methanol. Air Liquide gains access to coal-to-liquids and coal-tochemicals markets. The acquisition will also extend the geographical reach of the company’s engineering division. Chemie Technik (Heidelberg), 25 Jul 2007 (Website: http://www/chemietechnik.de) (in German)

Materia and Peakdale collaborate Peakdale Molecular Ltd has entered into a partnership agreement with Materia Inc to commercialize metathesis-based scaffolds for pharmaceuticals application. The deal grants Peakdale non-exclusive rights to use Materia’s metathesis intellectual property portfolio in the design, formulation and sale of research volumes of the scaffolds. The partners will work closely on the identification of target compounds. Peakdale will principally handle development work, manufacture and initial sales of the compounds. The company and its partner will launch two new series of privileged scaffolds

SEPTEMBER 2007