- Email: [email protected]
Sale of Columbian Chemicals completed
May 2006
million for 2004. On an adjusted basis, 2005 operating profit was $354.1 million, 87% higher than the adjusted figure for 2004. 2005 adjusted earnings from continuing operations were $143.6 million, up 187%, but this excludes c. $163.3 million in pre-tax charges, losses and costs. According to Robert L. Wood, president, chairman and CEO, Chemtura’s 2005 full year results reflect the transformation process started two years earlier as Crompton. “We are much stronger today as Chemtura than we were then”, Wood says. He anticipates that pro forma adjusted earnings in 2006 will be approximately 50% higher than 2005, with the improvement being heavily skewed towards the second half of the year. The performance of flame retardants, among others, exceeded expectations in 4Q 2005, though the company reported weak demand for its non-flame retardant plastics additives businesses for the period. For 4Q and full-year 2005, total sales of plastic additives were $363.8 million and $1.156 billion, respectively, compared to adjusted figures of $436.7 million and $1.630 billion for the same periods the previous year. Operating profit of $15.9 million was down from the adjusted figure of $22.6 million for 4Q 2004, but for the full year adjusted operating profit for plastics additives more than doubled to $118.99 million. Contact: Chemtura Corp, 199 Benson Rd, Middlebury, CT 06749, USA; tel: +1-203-5732220; fax: +1-203-573-2800; URL: www.chemtura.com
NEWS AND VIEWS Sale of Columbian Chemicals completed South Korean-based DC Chemical Co Ltd and One Equity Partners, a private equity affiliate of J.P. Morgan Chase & Co, have completed the joint purchase of carbon black producer Columbian Chemicals from Phelps Dodge Corp [see ADPO, January 2006]. DC Chemical has two-thirds direct interest in the business and One Equity Partners the remaining one-third. The new company will continue to operate from its headquarters and technology centre in Marietta, GA, USA, as
Additives for Polymers
Columbian Chemicals. The transaction includes Columbian’s business in its entirety, with 12 manufacturing plants worldwide and 1300 employees. Seoul-based DC Chemical, which has approximate annual revenues of US$2.2 billion, already operates two carbon black production facilities in Korea and has been interested in growing in the carbon black industry for some time, according to company chairman Soo Young Lee. “Expansion is the direction we are taking, and buying into the world’s third largest carbon black manufacturer was an opportunity we couldn’t miss,” he comments. Contact: Columbian Chemicals Co, 1800 West Oak Commons Court, Marietta, GA 30062-2253, USA; tel: +1-770-792-9400; URL: www.columbianchemicals.com
Süd-Chemie, Dolder launch nanocomposite compounds and masterbatches The additives group of Süd-Chemie AG of Munich, Germany, has joined forces with Dolder AG of Basel, Switzerland, to market nanocomposite compounds and masterbatches based on nanoclays in Europe. The companies say that the non-exclusive arrangement will maximize the strengths of each party. The products will be sold under the Dolder® Nanofil® brand. According to the companies, the collaboration combines the technical knowledge of Süd-Chemie in the field of compounding and processing nanoclays with the strong market position of Dolder in the segment of special compounds and masterbatches. The first products will be nanocomposites and masterbatches for flameretardant applications using halogen-free systems, such as ethylene vinyl acetate/aluminium trihydroxide or polypropylene/magnesium dihydroxide. The nanocomposites will also enhance the mechanical properties of the products. The companies add that further developments to improve properties in other applications are in progress. Contact: Süd-Chemie AG, Plastic Additives, Werk Moosburg, Ostenrieder Str. 15, 85368 Moosburg, Germany; tel: +49-8761-82-366; fax +49-867182-713; URL: www.sud-chemie.com
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million for 2004. On an adjusted basis, 2005 operating profit was $354.1 million, 87% higher than the adjusted figure for 2004. 2005 adjusted earnings from continuing operations were $143.6 million, up 187%, but this excludes c. $163.3 million in pre-tax charges, losses and costs. According to Robert L. Wood, president, chairman and CEO, Chemtura’s 2005 full year results reflect the transformation process started two years earlier as Crompton. “We are much stronger today as Chemtura than we were then”, Wood says. He anticipates that pro forma adjusted earnings in 2006 will be approximately 50% higher than 2005, with the improvement being heavily skewed towards the second half of the year. The performance of flame retardants, among others, exceeded expectations in 4Q 2005, though the company reported weak demand for its non-flame retardant plastics additives businesses for the period. For 4Q and full-year 2005, total sales of plastic additives were $363.8 million and $1.156 billion, respectively, compared to adjusted figures of $436.7 million and $1.630 billion for the same periods the previous year. Operating profit of $15.9 million was down from the adjusted figure of $22.6 million for 4Q 2004, but for the full year adjusted operating profit for plastics additives more than doubled to $118.99 million. Contact: Chemtura Corp, 199 Benson Rd, Middlebury, CT 06749, USA; tel: +1-203-5732220; fax: +1-203-573-2800; URL: www.chemtura.com
NEWS AND VIEWS Sale of Columbian Chemicals completed South Korean-based DC Chemical Co Ltd and One Equity Partners, a private equity affiliate of J.P. Morgan Chase & Co, have completed the joint purchase of carbon black producer Columbian Chemicals from Phelps Dodge Corp [see ADPO, January 2006]. DC Chemical has two-thirds direct interest in the business and One Equity Partners the remaining one-third. The new company will continue to operate from its headquarters and technology centre in Marietta, GA, USA, as
Additives for Polymers
Columbian Chemicals. The transaction includes Columbian’s business in its entirety, with 12 manufacturing plants worldwide and 1300 employees. Seoul-based DC Chemical, which has approximate annual revenues of US$2.2 billion, already operates two carbon black production facilities in Korea and has been interested in growing in the carbon black industry for some time, according to company chairman Soo Young Lee. “Expansion is the direction we are taking, and buying into the world’s third largest carbon black manufacturer was an opportunity we couldn’t miss,” he comments. Contact: Columbian Chemicals Co, 1800 West Oak Commons Court, Marietta, GA 30062-2253, USA; tel: +1-770-792-9400; URL: www.columbianchemicals.com
Süd-Chemie, Dolder launch nanocomposite compounds and masterbatches The additives group of Süd-Chemie AG of Munich, Germany, has joined forces with Dolder AG of Basel, Switzerland, to market nanocomposite compounds and masterbatches based on nanoclays in Europe. The companies say that the non-exclusive arrangement will maximize the strengths of each party. The products will be sold under the Dolder® Nanofil® brand. According to the companies, the collaboration combines the technical knowledge of Süd-Chemie in the field of compounding and processing nanoclays with the strong market position of Dolder in the segment of special compounds and masterbatches. The first products will be nanocomposites and masterbatches for flameretardant applications using halogen-free systems, such as ethylene vinyl acetate/aluminium trihydroxide or polypropylene/magnesium dihydroxide. The nanocomposites will also enhance the mechanical properties of the products. The companies add that further developments to improve properties in other applications are in progress. Contact: Süd-Chemie AG, Plastic Additives, Werk Moosburg, Ostenrieder Str. 15, 85368 Moosburg, Germany; tel: +49-8761-82-366; fax +49-867182-713; URL: www.sud-chemie.com
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