Osmo rescued from bankruptcy

F O C U S and laboratories for 600 employees. Over the next few months, staff in marketing, sales, research and development will be relocated to the new headquarters from locations in Frankfurt, Leverkusen and Ludwigshafen (Germany) and from Cheadle Hume (near Manchester, England). For fiscal year 2001, DyStar reported operating income at €54 M (up 23% on the previous year) and sales revenue at €1.102 bn (up 17% on the €862 M of the previous year). However, these figures look much less impressive when adjusted to take account of the BASF absorption. Excluding the contribution from exBASF operations and excluding restructuring expenses, DyStar’s operating income was only €25 M and sales declined by 13%. On the bottom line, DyStar again showed an after-tax loss: €16 M in 2001, following a loss of €44 M in 2000. DyStar employs about 4000 people, of which about one-half are based in Germany. DyStar’s sales for 2001 break down as: 37% Europe, 24% Americas, 33% Asia and 6% Rest of World. The company invests about 4% of its sales revenue in research and development and new products launched in the past five years accounted for 20% of sales in 2001. The group is still rationalising its inherited assets. During 2001, six manufacturing sites were closed, with the elimination of 26,000 tonnes/y of capacity and 500 job losses. DyStar is under sustained price and profitability pressure from Chinese and Indian suppliers; at the same time there has not been much volume growth in world markets. In dollar terms, the world’s consumption of textile colorants fell by at least 12% in 2001 to $3.7 bn. Consumption in the Americas fell by 18% to $800 M, consumption in Asia fell by 10% to $1.9 bn, consumption in Europe fell by 9% to $1 bn. For the first four months of 2002, DyStar reported a 6% drop in its sales, compared to the equivalent period of 2001. The company is looking for an upturn in global demand during the second half of the year and it is pursuing its cost reduction programme. DyStar believes that synergies still available from rationalisation should generate annual cost savings of €100 M.

AUGUST 2002

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In China, DyStar is moving the focus of its operations from Guangzhou to the Zhangjiagang Bonded Area, so as to be nearer to the busy textile industry in southern Jiangsu province. During the first four months of 2002, the Zhangjiagang Bonded Area handled over 90 tonnes of dyes, with a total value of $550,000 – this is equivalent to 50% of China’s total imports for 2001. In the US, with effect from 1 May 2002, DyStar took over the business of Color Solutions Inc, a leading supplier of colour standards for the textiles industry. Chemische Rundschau, 5 Apr 2002, 55 (7), 2 & 17 May 2002, 55 (10), 4 (in German) & Dystar Textilfarben Annual Report (Available from: DyStar Textilfarben GmbH & Co Deutschland KG, 65926 Frankfurt am Main, Germany. Fax: +49-692190-2005, Website: http://www.DyStar.com) & China Chemical Reporter, 22 Jun 2002, 13 (16), 7

Co. The head office has already been relocated from Münster to Warendorf. Farbe und Lack, Jun 2002, 108 (6), 11 (in German)

Peter Holland sells masterbatches from Winter, Esseti, Sitra and Barlog Peter Holland (of Zwijndrecht) has recently expanded its range of masterbatch products available to Dutch customers by taking a number of sales agencies – for Masterbatch Winter GmbH; Esseti Plast SpA; Sitra SpA and Barlog Plastics GmbH. Further information can be obtained from the website http://www.peterholland.nl. Kunststof en Rubber, Jul 2002, 55 (7), 12 (in Dutch)

Quiminova to sell for Chrostiki Foskor to sell ZrO2 from Kovdor With the cessation of baddeleyite recovery by Palabora Mining, Foskor has become South Africa’s sole producer of baddeleyite (a naturally occurring form of zirconium oxide). Baddeleyite is also recovered as a byproduct of apatite and magnetite mining at Kovdor (on the Kola peninsula in northern Russia). GMF Trading is the mineral sales agent for operations here, which produce 5000 tonnes/y of baddeleyite. Under an agreement recently signed by GMF Trading, Foskor has now been given exclusive global marketing rights for the Kovdor baddeleyite. Foskor intends to sell the material mainly in South America, the Middle East and Asia for applications in ceramics and refractories. Industrial Minerals, Apr 2002, (415), 18,21

Osmo rescued from bankruptcy Ostermann & Scheiwe (of Münster, Germany) has been rescued from bankruptcy by the Cordes group, which acquired the entire business, assets and liabilities on 18 March 2002. Ostermann & Scheiwe employs about 160 people and is well known as a supplier of Osmo parquet flooring, wood panelling and similar products; also wood coatings and colorants. Cordes will restructure the business and run it as a separate entity – Osmo Holz & Color GmbH &

Chrostiki SA (of Greece) is widening its export marketing activity in plastic compounds and masterbatches. It recently announced the appointment of Quiminova as its Portuguese distributor, stating that it hopes to generate sales of €200,000 in the Portuguese market this year. Reinforced Plastics (London), 22 May 2002, 46 (5), 11

Royal to sell for Columbian Columbian Chemicals has appointed H M Royal Inc to sell carbon black to the rubber products industry throughout the US, with effect from 1 July 2002. Chemical Week, 3/10 Jul 2002, 164 (27), 77

Spartech buys Uvtec & Polytech South For about $48.5 M, Spartech recently acquired the entire assets and business of GWB Plastics Holding Co, which is the parent of Uvtec and PolyTech South. These two businesses generated sales revenue of more than $40 M in the year to end-May 2002. Uvtec makes speciality plastic additives, concentrates and engineered compounds. PolyTech South makes colour concentrates and speciality additives. Their combined capacity is rated at about 32,000 tonnes/y. Spartech is a leading producer of engineered thermoplastic materials, polymeric compounds, and moulded and profile products, with 44 facilities

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