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Oxonica to raise more funds
FOCUS by end of 2007, with additional series anticipated to be brought to market in 2008. Chimica Oggi/Chemistry Today, Jun 2007, 25 (3), 51
NE Chemcat to up output capacity for diesel catalysts NE Chemcat plans to raise production capacity at its diesel automotive exhaust catalyst plant in Tsukuba, Japan. The company’s catalyst business has been recording robust progress under the new Long-Term Exhaust Emission Regulations of Japan as well as the high prices for rare metals as raw materials. The Tsukuba plant, already operating at 100% capacity, will be geared up for greater demand in the future as well as in response to more stringent reductions of contaminants beginning 2009. NE Chemcat will finalize in Feb 2008 its next growth strategy by promoting its base-metal catalyst products, making its rare-metal and chemical catalysts operations the company’s core area, and tapping the engineering industry. The company said it is a year ahead of schedule of meeting its current medium-term business plan, which extends from FY 2003 through FY 2007. The plan targets consolidated sales of Yen 61.3 bn ($5.1 bn), ordinary profit of Yen 8.5 bn, and return on equity (ROE) of 12.5%. For FY 2006 ended 31 Mar 2007, the company recorded sales of Yen 84.3 bn, ordinary profit of Yen 9.4 bn and ROE of 14.6%. Japan Chemical Week, 28 Jun 2007, 48 (2422), 1
Oxonica to raise more funds Oxonica intends to raise more funds through an equity issue as the company tries to salvage a deal for the supply of its Envirox catalyst to Petrol Ofisi. The setback on the catalyst trial was reportedly caused by the high-sulfur diesel utilized in Turkey. The success of Envirox in London, UK, has been attributed to the use of low-sulfur diesel by buses in that country. The company’s security products division landed orders worth $1.16 M. Nanotech Report (Forbes/Wolfe), Jun 2007, 6 (6), 8 (Website: http://www.forbesnanotech.com)
SEPTEMBER 2007
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Coal firm buys into novel fuel plant Peabody Energy will grant $10 M for the engineering and development of the coal-to-liquids plant that Rentech is building in East Dubuque, IL. A natural-gas-based nitrogen fertilizer facility will be converted into a coalbased Fischer-Tropsch plant that will be designed to produce 17.8 M gallons of fuel and 545,000 ton/y of nitrogen fertilizer by 2010. Chemical and Engineering News, 4 Jun 2007, 85 (23), 18
manufacturing capacities. In the firm’s Adsorbents division, the thrust will be on upgrading capacity in Europe for environment-friendly detergent additives to replace softeners. Süd Chemie generated sales of €1003 M in 2006, an increase of 14.2% over 2005. EBIT grew by 23.9% to €83.4 M. Profit was at €55.5 M, up by 4.5%. Süd-Chemie intends to increase consolidated revenue by 5% and EBIT by 10% in 2007. For 1Q 2007, the company’s sales were 8.7% higher than in 1Q 2006 at €247.6 M. Speciality Chemicals, Jun 2007, 27 (5), 15
PQ Corp announces 1Q 2007 results and a 6% increase in adjusted EBITDA For its 1Q 2007 (period ends 31 Mar 2007) PQ Corp has reported sales of $171.3 M ($166.7 M for its 1Q 2006), gross profit of $35.8 M ($35.1 M), operating profit of $12.5 M ($11.8 M), and net profit of $3.73 M ($702,000). Effective 1 Jan 2007, the company completed a business reorganization that aligned its organizational structure to its strategic direction. In connection with this reorganization, the company began managing operations, assessing performance, and reporting financial results under three business segments and therefore began reporting financial information based on these segments beginning in 1Q 2007. The company’s reportable segments are organized based on the three operating divisions within the Company: Performance Chemicals, Catalysts, and Potters. The Performance Chemicals Division achieved a sales increase of $3.6 M compared to 1Q 2006, while sales in the Catalysts division were $2.2 M down. There is further discussion of the business and of the results. PQ Corp Interim Report 1Q 2007, 14 May 2007 (PQ Corp, PO Box 840, Valley Forge, PA 19482-0840, USA. Tel: +1 610 651 4200. Fax: +1 610 6514504. Website: http://www.pqcorp.com)
Süd-Chemie plans investment boost Süd-Chemie aims to allocate an investment budget of €107 M in 2007, excluding investments already approved by the board. This is equivalent to an investment hike of 50% over 2006 and 140% higher than depreciation. The goal is to introduce new products and upgrade
Syntroleum to supply the USA with jet biofuel The US Department of Defense has awarded Syntroleum a contract to supply 500 gallons of fat-based jet fuel for its testing project. The company said that when the contract concludes, it would be the first firm to supply fats-derived aviation fuel and Fischer-Tropsch aviation fuel to the department for the latter’s certification and weapon system testing project. ICIS Chemical Business, 16 Jul 2007 (Website: http://icischemicalbusiness.com) & Press release from: Syntroleum Corp, Suite 1100, 1350, South Boulder Avenue, Tulsa, OK 74119, USA. Tel: +1 918 592 7900. Fax: +1 918 592 7979. Website: http://www.syntroleum.com (9 Jun 2007)
Verenium announces milestone payment to the University of Florida for cellulosic ethanol technology licence Verenium Corp presented the University of Florida with a $66,000 royalty cheque for its patented cellulosic ethanol technology. The royalty payment is from the first commercial production of biomass ethanol produced using patented technology developed by Dr Lonnie Ingram, a Distinguished Professor in UF’s Department of Microbiology and Cell Science, and Director of the Florida Center for Renewable Chemicals and Fuels, and licensed to Verenium. BioEthanol Japan – a joint venture of Marubeni Corp and Tsukishima Kikai Co LTD – is using the technology under licence from Verenium in their 1.4 M lt/y cellulosic ethanol plant in Osaka. It is the
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NE Chemcat to up output capacity for diesel catalysts NE Chemcat plans to raise production capacity at its diesel automotive exhaust catalyst plant in Tsukuba, Japan. The company’s catalyst business has been recording robust progress under the new Long-Term Exhaust Emission Regulations of Japan as well as the high prices for rare metals as raw materials. The Tsukuba plant, already operating at 100% capacity, will be geared up for greater demand in the future as well as in response to more stringent reductions of contaminants beginning 2009. NE Chemcat will finalize in Feb 2008 its next growth strategy by promoting its base-metal catalyst products, making its rare-metal and chemical catalysts operations the company’s core area, and tapping the engineering industry. The company said it is a year ahead of schedule of meeting its current medium-term business plan, which extends from FY 2003 through FY 2007. The plan targets consolidated sales of Yen 61.3 bn ($5.1 bn), ordinary profit of Yen 8.5 bn, and return on equity (ROE) of 12.5%. For FY 2006 ended 31 Mar 2007, the company recorded sales of Yen 84.3 bn, ordinary profit of Yen 9.4 bn and ROE of 14.6%. Japan Chemical Week, 28 Jun 2007, 48 (2422), 1
Oxonica to raise more funds Oxonica intends to raise more funds through an equity issue as the company tries to salvage a deal for the supply of its Envirox catalyst to Petrol Ofisi. The setback on the catalyst trial was reportedly caused by the high-sulfur diesel utilized in Turkey. The success of Envirox in London, UK, has been attributed to the use of low-sulfur diesel by buses in that country. The company’s security products division landed orders worth $1.16 M. Nanotech Report (Forbes/Wolfe), Jun 2007, 6 (6), 8 (Website: http://www.forbesnanotech.com)
SEPTEMBER 2007
ON
C ATA LY S T S
Coal firm buys into novel fuel plant Peabody Energy will grant $10 M for the engineering and development of the coal-to-liquids plant that Rentech is building in East Dubuque, IL. A natural-gas-based nitrogen fertilizer facility will be converted into a coalbased Fischer-Tropsch plant that will be designed to produce 17.8 M gallons of fuel and 545,000 ton/y of nitrogen fertilizer by 2010. Chemical and Engineering News, 4 Jun 2007, 85 (23), 18
manufacturing capacities. In the firm’s Adsorbents division, the thrust will be on upgrading capacity in Europe for environment-friendly detergent additives to replace softeners. Süd Chemie generated sales of €1003 M in 2006, an increase of 14.2% over 2005. EBIT grew by 23.9% to €83.4 M. Profit was at €55.5 M, up by 4.5%. Süd-Chemie intends to increase consolidated revenue by 5% and EBIT by 10% in 2007. For 1Q 2007, the company’s sales were 8.7% higher than in 1Q 2006 at €247.6 M. Speciality Chemicals, Jun 2007, 27 (5), 15
PQ Corp announces 1Q 2007 results and a 6% increase in adjusted EBITDA For its 1Q 2007 (period ends 31 Mar 2007) PQ Corp has reported sales of $171.3 M ($166.7 M for its 1Q 2006), gross profit of $35.8 M ($35.1 M), operating profit of $12.5 M ($11.8 M), and net profit of $3.73 M ($702,000). Effective 1 Jan 2007, the company completed a business reorganization that aligned its organizational structure to its strategic direction. In connection with this reorganization, the company began managing operations, assessing performance, and reporting financial results under three business segments and therefore began reporting financial information based on these segments beginning in 1Q 2007. The company’s reportable segments are organized based on the three operating divisions within the Company: Performance Chemicals, Catalysts, and Potters. The Performance Chemicals Division achieved a sales increase of $3.6 M compared to 1Q 2006, while sales in the Catalysts division were $2.2 M down. There is further discussion of the business and of the results. PQ Corp Interim Report 1Q 2007, 14 May 2007 (PQ Corp, PO Box 840, Valley Forge, PA 19482-0840, USA. Tel: +1 610 651 4200. Fax: +1 610 6514504. Website: http://www.pqcorp.com)
Süd-Chemie plans investment boost Süd-Chemie aims to allocate an investment budget of €107 M in 2007, excluding investments already approved by the board. This is equivalent to an investment hike of 50% over 2006 and 140% higher than depreciation. The goal is to introduce new products and upgrade
Syntroleum to supply the USA with jet biofuel The US Department of Defense has awarded Syntroleum a contract to supply 500 gallons of fat-based jet fuel for its testing project. The company said that when the contract concludes, it would be the first firm to supply fats-derived aviation fuel and Fischer-Tropsch aviation fuel to the department for the latter’s certification and weapon system testing project. ICIS Chemical Business, 16 Jul 2007 (Website: http://icischemicalbusiness.com) & Press release from: Syntroleum Corp, Suite 1100, 1350, South Boulder Avenue, Tulsa, OK 74119, USA. Tel: +1 918 592 7900. Fax: +1 918 592 7979. Website: http://www.syntroleum.com (9 Jun 2007)
Verenium announces milestone payment to the University of Florida for cellulosic ethanol technology licence Verenium Corp presented the University of Florida with a $66,000 royalty cheque for its patented cellulosic ethanol technology. The royalty payment is from the first commercial production of biomass ethanol produced using patented technology developed by Dr Lonnie Ingram, a Distinguished Professor in UF’s Department of Microbiology and Cell Science, and Director of the Florida Center for Renewable Chemicals and Fuels, and licensed to Verenium. BioEthanol Japan – a joint venture of Marubeni Corp and Tsukishima Kikai Co LTD – is using the technology under licence from Verenium in their 1.4 M lt/y cellulosic ethanol plant in Osaka. It is the
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