Chemical Week articles from March 2002

Chemical Week back issues from March 2002:

A new chapter in M&A. (Viewpoint).(chemical industry mergers and acquisitions expected to increase in 2002)(Brief Article)(Statistical Data Included)

Mar 06, 2002 ... Most bankers expect M&A activity in the worldwide chemical industry to pick up at least a bit in 2002. Figures compiled by Young & Partners (New York) show chemicals M&A dollar volume declining sharply during 2001, from $18 billion in first-quarter 2001, to $10 billion in the second, and ...

Vantico receives cash infusion, covenant waivers.(Brief Article)(Statistical Data Included)

Mar 06, 2002 ... Vantico says Morgan Grenfell Private Equity (MGPE; London) has agreed to contribute as much as CHF75 million ($44 million) in a bid to shore up Vantico's finances. Vantico says it has also reached agreements with bank lenders that will ease credit covenants through fourth-quarter 2003 ....

New Jersey official picked to head EPA enforcement.(John Suarez nominated to head US Environmental Protection Agency enforcement division)(Brief Article)

Mar 06, 2002 ... President Bush nominated John Suarez to head EPA'S enforcement offices last week. Suarez is director of the state's Division of Gaming Enforcement (Trenton, NJ), and was previously assistant counsel to EPA administrator Christine Todd Whitman during her tenure as governor. He also served ...

Management buyout for Hickson DanChem.(Brief Article)

Mar 06, 2002 ... A management group has acquired Hickson DanChem (Danville, VA) from Arch Chemicals in a buyout funded by American Capital Strategies (Bethesda, MD). The acquired company, which has been renamed DanChem Technologies, provides custom manufacture of specialty and fine chemicals. Arch acquired ...

Linde, BOC combine plant engineering and technology.(Brief Article)

Mar 06, 2002 ... Linde says its will combine its process plant operation based at Tulsa with BOC's process plant business, based at Murray Hill, NJ. The new entity, Linde BOC Process Plants, will be based in Tulsa and is scheduled to start up by this summer. Linde will have a 70% ...

EPA Officer quits over NSR dispute.(Eric Schaeffer, director of the US Environmental Protection AGency Office of Regulatory Enforcement resigns citing Bush Adminstration eforts to weaken New Source Review program)(Brief Article)

Mar 06, 2002 ... Eric Schaeffer, director of the EPA Office of Regulatory Enforcement, resigned abruptly last week, citing "frustration" with efforts at the White House and Department of Energy (DOE) to "weaken" air pollution rules under the New Source Review (NSR) program. DOE'S attempt to alter NSR ...

Ecolab president and COO departs. (News Briefs).(Bruno Deschamps)(Brief Article)

Mar 06, 2002 ... Ecolab says that Bruno Deschamps has resigned as president and COO "to pursue personal interests." Deschamps will continue working with Ecolab on special projects over the next several months, says the company. Ecolab says Douglas M. Baker, currently v.p./institutional sector, has been ...

PCS buys Missouri phosphates. (News Briefs).(Potash Corp. of Saskatchewan to buy Farmland Industries' phosphates plant)(Brief Article)

Mar 06, 2002 ... Potash Corp. of Saskatchewan (PCS) says it has agreed to buy Farmland Industries' phosphates plant at Joplin, MO for an undisclosed sum. The transaction is expected to ...

Kaneb closes statia purchase. (News Briefs).(liquid terminal assets of Statia Terminals)(Brief Article)

Mar 06, 2002 ... Kaneb (Dallas, TX) says it has purchased the liquid terminal assets of Statia Terminals (St. Eustatius, Netherlands Antilles). The deal is valued ...

J.P Morgan analyst moves to Merrill. (News Briefs).(Don Carson becomes senior US chemicals analyst at Merrill Lynch)(Brief Article)

Mar 06, 2002 ... Don Carson has joined Merrill Lynch (New York) as senior U.S. chemicals analyst. He joins the company from J.P. Morgan, where he was lead chemicals analyst Carson replaces John Roberts who left the company in December ....

ISP posts fourth-quarter loss. (News Briefs).(International Specialty Products)(Brief Article)

Mar 06, 2002 ... International Specialty Products (ISP) posted a fourth-quarter loss of $21.9 million, excluding one-time items, compared to net earnings of $59 million in the year-ago quarter The company ...

Former elementis Boss joins Celanese. (News Briefs).(Lyndon Cole named president of Celanese Chemicals)(Brief Article)

Mar 06, 2002 ... Celanese has appointed Lyndon Cole to the new post of president/Celanese Chemicals, effective Match 11. He will rake over operating responsibility for Celanese's worldwide chemicals business from Celanese COO, David Weidman, and he will report to ...

Bayer may cut board members. (News Briefs).(Brief Article)

Mar 06, 2002 ... Bayer declined to comment on a report last week in German newspaper Die Welt that the company plans to reduce its number of board members from seven, to five or six members, who will have financial and strategic responsibilities. The proposed change, to be presented for supervisory board ...

Vopak to form storage JV in China. (News Briefs).(Brief Article)

Mar 06, 2002 ... Vopak says it will form a 50-50 joint venture with the Shanghai municipal government to build a 240,000-cu meter storage terminal at Caojing, near Shanghai. Construction of the $240-million terminal will start in the second quarter and it is scheduled for completion in fourth-quarter 2004 ....

More European firms post weak results.(Brief Article)(Statistical Data Included)

Mar 06, 2002 ... Several more European companies posted weak sales and earnings for 2001 (table). Clariant reported a SF1.2-billion ($710 million) net loss due to SF1.5 billion of exceptional charges related to a previously announced restructuring and a goodwill writedown on its 2000 acquisition of BTP ...

ICI Faces liabilities related to Enron debacle.(Brief Article)(Statistical Data Included)

Mar 06, 2002 ... ICI faces potential liabilities of up to [pounds sterling]482 million ($689 million) arising from the recent collapse of Enron. ICI's exposure dates back to the early 1990s, when ICI and Enron jointly owned a gas transportation firm and a power station at Teesside, U.K. ICI sold its stakes ...

Dynea buys Sydsvenska Kemi's resins.(Brief Article)

Mar 06, 2002 ... Dynea (Helsinki) has agreed to buy Sydsvenska Kemi's (Perstorp, Sweden) formaldehyde resins activities outside Sweden. The acquired business has sales of SK950 million($91 million)/year. The deal is scheduled to close on March 15. Sydsvenska and Dynea are both controlled by private equity ...

Restructuring pushes Showa Denko into the red.(Brief Article)(Statistical Data Included)

Mar 06, 2002 ... Showa Denko reported a net loss of [yen]34.3 billion ($256 million) for 2001, compared with a [yen]2.8-billion profit a year earlier, due mainly to inclusion of a [yen]21.6-billion charge related to an early retirement program. Pretax ...

Degussa divests textile business.(Brief Article)

Mar 06, 2002 ... Rutgers's textile chemicals subsidiary Giovanni Bozetto (Milan) has acquired Degussa's [euro]35-million ($30 million)/year textile additives business for an undisclosed sum. Three-quarters of Bozetto's ...

Judge orders settlement talks in Solutia PCB trial. (Top of the Week).(Brief Article)

Mar 06, 2002; ... Alabama circuit court judge Joel Laird has ordered attorneys for Solutia, Monsanto, and Pharmacia to try and hash out a settlement with plaintiffs who have sued the companies over polychlorinated biphenyls (PCBs) contamination from Monsanto's former Anniston, AL PCBs facility. The jury ...

Irix buys Schweizerhall's U.S. cGMP operations. (Top of the Week).(Brief Article)

Mar 06, 2002; ... Irix Pharmaceuticals (Florence, SC) a drug process design firm, says it has signed an agreement to purchase the U.S. process development and cGMP manufacturing activity of Schweizerhall (Basel) at Greenville, SC. Terms were not disclosed. The deal is expected to close by the end of tire ...

Bush sides with industry on superfund; critics push taxes. (United States/Americas).(Brief Article)

Mar 06, 2002; ... Environmental groups and Democrats in Congress are stepping up efforts to reinstate Superfund trust fund taxes paid by chemical and oil companies, which expired in 1995. Proponents of Superfund taxes say the trust fund's reserves are expected to shrink to about $30 million in 2003, forcing ...

Dow awards global logistics Marine contract to BDP. (United States/Americas).(Brief Article)

Mar 06, 2002; ... Dow Chemical says it has signed a five-year contract appointing BDP International (Philadelphia) lead logistics provider for Dow's global marine containerized shipments. BDP says it is the first time that a chemical company has chosen a single-source, third-party provider to manage global ...

Court orders DOE to release documents. (United States/Americas).(Documents detailing DOE's role in advising the energy task force)(Brief Article)

Mar 06, 2002; ... The U.S. District Court in Washington has ordered the Department of Energy (DOE) to turn over documents derailing DOE's role in advising the energy task force responsible for drafting the White House's May 2001 energy policy. The Natural Resources Defense Council (NRDC; Washington) ...

Industry launches web-based clearinghouse for LRI data. (Health Effects Research).(American Chemical Society's new Web site)(Brief Article)

Mar 06, 2002; ... ACC has launched a Web site to serve as a public resource for details on the chemical industry's $25 million/year long-range research initiative (LRI). Industry leaders say the site will help lend credence to LRI's stated goal of funding unbiased, peer-reviewed chemical studies. The ...

PPG names bunch COO. (Health Effects Research).(PPG Industries' new president and COO)(Brief Article)

Mar 06, 2002; ... PPG Industries says it has appointed executive v.p. Charles E. Bunch to the position of president and COO, succeeding Frank A. Archinaco, who will retire at mid-year. The retirement of Archinaco shrinks PPG's top management from three executives to only two, Bunch and Raymond W. LeBoeuf, ...

Clean harbors buys Safety-Kleen unit. (Health Effects Research).(Brief Article)

Mar 06, 2002; ... Hazardous waste remediation company Clean Harbors (Braintree, MA) says it will pay $311.3 million to acquire Safety-Kleen's Chemical Services Division (Columbia, SC). Safety-Kleen, which filed for Chapter 11 bankruptcy protection in June 2000, is 44%-owned by Laidlaw (Burlington, ON). The ...

Shippers' groups get on the same track. (Business & Finance News).(Trade organizations want to deregulate the rail industry)(Government Activity)(Brief Article)

Mar 06, 2002; ... The National Industrial Transportation League (NITL; Washington) and the Alliance for Rail Competition (ARC; Washington) say they have teamed up to increase pressure on lawmakers to deregulate the rail industry and enhance competition among railroads. ARC and NITL will form a joint ...

PACE to sue Continental Carbon over waste. (Business & Finance News).(Hazardous waste dumping prompts federal lawsuit)(Legal Beat)(Brief Article)

Mar 06, 2002; ... The Paper, Allied-Industrial, Chemical, and Energy Workers International Union (PACE; Nashville) says it will file a federal lawsuit against carbon black producer Continental Carbon (Houston), charging that it has illegally disposed of hazardous waste at facilities in Ponca City, OK and ...

DuPont takes stake in Merrimac. (Business & Finance News).(Merrimac Industries sells 16.6% stake to E.I. du Pont de Nemours and Co.)(Brief Article)

Mar 06, 2002 ... DuPont says it has paid $5.3 million for a 16.6% stake in Merrimac Industries (West Caldwell, NJ), a maker of high-frequency components used in communications equipment. DuPont says the companies will work to develop materials for high-frequency electronic components and modules. This ...

P&G Eyes changes for back office. (Business & Finance News).(Procter & Gamble may switch to outsourcing)(Brief Article)

Mar 06, 2002 ... Procter & Gamble (P&G) has confirmed media reports that it is reviewing its back office operations and considering several options, including outsourcing. P&Gs back office ...

Rodel, Cabot micro settle dispute. (Business & Finance News).

Mar 06, 2002 ... Rodel says it has settled patent infringement legislation brought against Cabot Microelectronics and Cabot Corp., Cabot Microelectronics former parent. The litigation involved patents for Rodel's slurry technology. None of the parties ...

Roche studies vitamins divestment. (Europe/Mideast).(Brief Article)

Mar 06, 2002; ... Roche says it is studying plans to divest its SF3.5-billion ($2.1 billion)/year vitamins and fine chemicals business. "We are reviewing options for our vitamins and fine chemicals division outside the Roche group," says Roche CEO Franz Humer. The company says that options under ...

Europe reviews phthalate safety. (Europe/Mideast).(Brief Article)

Mar 06, 2002; ... A European Union (EU) risk assessment of di-2-ethylhexylphthalate (DEHP) underestimated the substance's potential damage to the environment, the commission's scientific committee on toxicology (CSTEE) says. The study was completed by a team of Swedish scientists last September for the ...

Government tightens grip on PKN Orlen. (Europe/Mideast).(Brief Article)

Mar 06, 2002; ... The Polish government has secured six of the nine seats on the supervisory board of refining and petrochemicals producer PKN Orlen (Plock, Poland). The state owns 28% of PKN. The appointments were made at an extraordinary shareholders' meeting late last month, which was called to make new ...

Akzo expands pharmaceuticals, jobs go in chemicals, coatings. (Europe/Mideast).(Brief Article)

Mar 06, 2002; ... Akzo Nobel says that two-thirds of its recently announced 1,500 job cuts Will be in coatings and that the other third will be in chemicals (CW, Feb. 27, p. 6). The coatings job cuts will be in Europe and the U.S., and those in chemicals will be worldwide, Akzo says. The cuts, announced at ...

Brussels takes France to court over biocides. (Europe/Mideast).(Brief Article)

Mar 06, 2002; ... The European Commission has referred France to the European Court of Justice for failing to adopt the commissions biocides directive. The commission has also issued a warning to Austria, France, Germany, Greece, Luxembourg, and the U.K. for failing to adopt certain amendments to its ...

Europe may endorse emissions trading scheme that excludes chemicals. (Europe/Mideast).(Brief Article)

Mar 06, 2002; ... The European Parliament has indicated that it may endorse the European Commission's proposed centralized carbon dioxide (0021 emissions trading system for the European Union (EU), which excludes the chemical industry. The commission's proposal would set cap-and-trade emission limits for ...

Six dead in China blast. (Business & Finance News).(Brief Article)

Mar 06, 2002 ... PetroChina subsidiary Liaoyang Petrochemical (Liaoyang, China) says that six workers were killed and 19 injured ina an explosion February 23 at the ...

Shin-Etsu, Unitika from VAM-PVOH JV. (Business & Finance News).(Brief Article)

Mar 06, 2002 ... Shin-Etsu Chemical and Unitika (Osaka) say they will merge their respective vinyl acetate monomer (VAM) and polyvinyl alcohol (PVOH) operations into a 50-50 ...

Philippine cracker pact. (Business & Finance News).(Brief Article)

Mar 06, 2002 ... Petronas says it expects to conclude a shareholder agreement by mid-year with PNOC Petrochemical Development Corp. (PPDC; Manila) for a previously announced naphtha cracker ...

DIC Cuts forecast, plans restructing. (Business & Finance News).(Dainippon Ink and Chemicals)(Brief Article)

Mar 06, 2002 ... Dainippon Ink and Chemicals has cut its earnings forecast for the fiscal year ending March 31, 2002 to [yen]4 billion ($30 million), from [yen]10 billion, and cut its sales forecast from [yen]990 billion, to [yen]970 billion. The company says ...

Mizusawa-Mitsui expand stabilizers. (Business & Finance News).(Brief Article)

Mar 06, 2002 ... Siam Stabilizers & Chemicals (SSC), a joint venture of Mizusawa Industrial Chemicals and Mitsui &. Co., says it will build a 1,800-m.t./year calcium-zinc polyvinyl chloride ...

Mitsui quits chlorobenzene business. (Business & Finance News).(Brief Article)

Mar 06, 2002 ... Mitsui Chemicals says it will exit the chiorobenzene derivatives business and close its plant at Ohmuta, Japan at the end of this month. The company ...

PCS studies propylene expansion using olefin conversion process. (Asia/Pacific).(Petrochemical Corp. of Singapore)(Brief Article)

Mar 06, 2002; ... The technologies under consideration are ABB Lummus Global's metathesis process, and Halliburron KBR's Superfiex technologies. Both convert C4 and C8 olefins into lower olefirrs, mainly propylene. Petrochemical Corp. of Singapore (PCS), a joint venture between Shell Chemicals ...

BP Mulls sales link-up with Chandra Asri. (Asia/Pacific).(Brief Article)

Mar 06, 2002; ... BP says it has abandoned talks to merge its Indonesian polyethylene (PE) subsidiary, PT Peni, with ethylene and PE producer PT Chandra Asri. The company, however, is discussing a "loose marketing partnership" in PE with Chandra Asri, says Peter M. Wentworth, BP's olefins and polymers ...

Qatar Petroleum and Atofina plan new ethylene joint venture. (New Construction Projects).(Brief Article)

Mar 06, 2002; ... Qatar Petroleum (QP; Doha) and Atofina are finalizing plans to form a joint venture, Qatarfin, to build a world-scale ethane cracker at Ras Laffan, Qatar, senior officials in Qatar tell CW. The unit will have capacity for 1.1 million m.t./year of ethylene, and it will be completed three ...

Iran and Egypt study joint cracker project. (New Construction Projects).(New construction of 1 mn m.t./year ethylene plant in Egypt)(International Pages)(Brief Article)

Mar 06, 2002 ... National Petrochemical Co. (NPC; Tehran) and Egyptian General Petroleum Corp. (Cairo) say they are studying joint construction of a 1-million m.t./year gas-based ethylene plant in Egypt. A feasibility study will examine ...

FMC switches perborate plant to make percarbonate. (New Construction Projects).(FMC Foret)(Brief Article)

Mar 06, 2002 ... FMC Foret (Barcelona) says it will switch part of its sodium perborate capacity at La Zaida, Spain to produce sodium percarbonate. The company says the switch will add 35,000 m.t./year of sodium ...

Stone & Webster to supply ethylene furnaces in China. (New Construction Projects).(furnaces for Lanzhou Petrochemical)(Brief Article)

Mar 06, 2002 ... Petrochina affiliate Lanzhou Petrochemical (LPC; Lanzhou, China) has awarded Stone & Webster a contract to supply two 60,000-m.t./year ethylene furnaces. The units will be installed at LPC's ethylene plant at Xigu, ...

Halliburton KBR supplies furnace for Dow at Freeport. (New Construction Projects).(Brief Article)

Mar 06, 2002 ... Dow Chemical has awarded Halliburton KBR a contract to design and supply a furnace for Dow's Freeport, TX ethylene plant. The furnace will use the Selective Cracking Optimum Recovery technology, ...

Ticona and DSM delay PBT project until 2005. (New Construction Projects).(polybutylene terephthalate)(Brief Article)

Mar 06, 2002 ... Ticona and DSM say they will delay completion of a previously announced 50-50 joint venture polybutylene terephthalate (PBT) project, until 2005 (CW, Jan. 23, p. 22). The companies cite depressed PBT market conditions. They had ...

Mitsubishi builds biodegradable plastics unit in Japan. (New Construction Projects).(Mitsubishi Gas Chemical )(Brief Article)

Mar 06, 2002 ... Mitsubishi Gas Chemical (MGC) says it will complete a pilot plant for aliphatic polyester carbonate biodegradable plastic at Yokkaichi, Japan by July. The 400-m.t./year unit will be used to develop the local market for MGC's Iupec biodegradable plastic. The company ...

Australian fertilizer project gets environmental approval. (New Construction Projects).(Burrup Fertilizers)(Brief Article)

Mar 06, 2002 ... Burrup Fertilizers (Perth, Australia) says it has received environmental approval from the state government of Western Australia to build a previously announced A$700-million ($360 million) ammonia plant at Burrup Peninsula. Burrup Fertilizers is ...

Toyo wins chlorine contract from Asahi glass subsidiary. (New Construction Projects).(Toyo Engineering Corp.)(Brief Article)

Mar 06, 2002 ... Thasco Chemical, a subsidiary of Asahi Glass, has awarded Toyo Engineering a contract to build a liquid chlorine plant at ...

Financial services: Chemical firms have a smaller role in M&A. (Cover Story).(the role of private equity firms in chemical mergers and acquisitions)(Statistical Data Included)

Mar 06, 2002; ... NATASHA ALPEROWICZ ROBERT WESTERVELT The chemical industry M&A market has turned into a private equity party over the past few year. Private equity firm stepped up their presence when strategic buyers began to retreat to the sidelines as their earnings shrank and ...

Solvay rolls out PVC technology. (Recycling).(polyvinyl chloride technology)(Brief Article)

Mar 06, 2002; ... Solvay has opened the world's first plant to recycle soft polyvinyl chloride (PVC) resin at Ferrara, Italy. The [euro]10.6-million ($9.2 million) unit will regenerate up to 8,500 m.t./year of PVC from 10,000 m.t./year of waste plastic material--mostly comprising PVC--using the company's ...

Polymer, heal thyself. (Research).(New transparent organic polymer)(Brief Article)

Mar 06, 2002; ... Scientists from the University of California, Los Angeles (UCLA) and the University of Southern California (USC; Los Angeles) say they have developed a transparent organic polymer that can "self-heal" when cracked, repairing its fractures repeatedly under relatively simple heating and ...

Canada invests in DuPont's fuel cells. (Innovation).(Brief Article)

Mar 06, 2002 ... The Canadian government says it will invest C$19 million ($12 million) in a four-year fuel cell research program with DuPont Canada. The funds will be used to expand the company's research center at Kingston, ON from 27 ...

Making polyolds from soybeans. (Innovation).(New polyols are 10% to 15% cheaper)(Brief Article)

Mar 06, 2002 ... Urethane Soy Systems (Princeton, IL) says it has developed a process to generate polyols from soybean oil that is 10%-15% cheaper than petrochemical-based routes. The products can ...

Avecia to invest $100 million in U.K. unit. (Biologics).(New $100 mn advanced biologics manufacturing plant)(International Pages)(Brief Article)

Mar 06, 2002; ... A vecia has announced plans for a $100-million advanced biologics manufacturing unit at its Billingham, U.K. site. The project will create 40,000 liters of fermentation-based contract manufacturing capacity for microbially derived drugs, the company says. The first stage, with capacity for ...

Dow reorganizes CMS and ascot operations. (Custom Manufacturing).(Dow Chemical reorganizes custom and fine chemicals business unit)(Brief Article)

Mar 06, 2002; ... Dow Chemical says it has established separate pharmaceutical and specialty chemical contract services units by reorganizing the activities of the former Dow Contract Manufacturing Services (CMS) and Ascot, which Dow acquired last June. The new businesses have been named Dow Pharmaceutical ...

Maxygen launches chemicals unit. (Pharmaceuticals & Fine Chemicals).(New wholly-owned subsidiary Codexis)(Brief Article)

Mar 06, 2002 ... Enzyme discovery firm Maxygen says it has set up a wholly owned subsidiary Codexis, to provide products and services to life science and fine chemical firms. Codexis will supply customers with chirally active biological and chemical catalysts, pharmaceutical intermediates and bulk actives, ...

Takasago plans drug intermediates. (Pharmaceuticals & Fine Chemicals).(New Spainish pharmaceutical intermediates plant)(International Pages)(Brief Article)

Mar 06, 2002 ... Flavors and fragrances firm Takasago International says it has completed a pharmaceutical intermediates plant at its subsidiary Acedesa (EI Palmar, Spain). The unit can carry out chiral hydrogenation. Takasago says the unit will ...

Another boost for aspirin? (Pharmaceuticals & Fine Chemicals).(Pain relievers may have antiviral potential)(Brief Article)

Mar 06, 2002 ... Pain relievers such as aspirin may have antiviral indications, says a study by Princeton University (Princeton, NJ) and the University of Medicine and Dentistry (Newark, NJ). Viruses that cause cold sores and genital herpes infections increase levels of ...