Chemical Week back issues from March 2004:
Moving in the right direction.(viewpoint)
Mar 10, 2004; ... The better-than-expected fourth-quarter results that many U.S. chemical companies posted at the end of January gave a boost to sentiment that business is improving. But those results did not reflect the impact of the surge in natural gas prices in December that continued into January, or ...
MissChem complete potash sale.(Brief Article)
Mar 10, 2004 ... Mississippi Chemical (MissChem) says it has completed the sale of most of its potash assets to Intrepid Mining (Denver) for $27.4 million (CW, Dec. 10, 2003, p. 10). Proceeds from the sale were about $26 million, after transaction fees, ...
Petrobras, Sinopec eye joint projects.(Brief Article)
Mar 10, 2004 ... Petrobras (Rio de Janeiro) says it soon will begin talks with Sinopec to evaluate potential partnerships between the companies. The discussion will evaluate business opportunities in oil exploration and production, oil ...
Schulman may expand China plant.(Brief Article)
Mar 10, 2004 ... A. Schulman says it may expand a 40-million lbs/year compounding plant due to start production at Dongguan, China this summer (CW, July 24, 2002, p. 24). "Because of the promising outlook for business opportunities in China," it is likely that ...
Additional charge widens loss at Grace.(Brief Article)
Mar 10, 2004 ... W.R. Grace & Co. says it has restated its fourth-quarter and full-year 2003 results to reflect an additional $20million pretax charge for to litigation related to its former vermiculite mine at Libby, MT. The charge brings ...
SNPE North America becomes Isochem.(Societe Nationale de Poudres et Explosifs S.A.)(Brief Article)
Mar 10, 2004 ... SNPE North America (Princeton, NJ) says it has changed its name to Isochem North America. Isochem is the name of SNPE's fine chemicals arm ...
Aventis gives Bayer a refund for CropScience.(Brief Article)
Mar 10, 2004 ... Aventis says it has agreed to refund 327 million [euro]($406.3 million) to Bayer to settle Bayer's claim that it was overcharged for its acquisition of Aventis CropScience in 2002 (CW, March 19, 2003, p. 15). Aventis made the disclosure last week in its defense document against a hostile ...
Chemical tanker explodes off the coast of Virginia.(Brief Article)
Mar 10, 2004 ... A tanker carrying 3.2 million gals of ethanol exploded and sank 50 miles off the coast of Virginia on February 28, killing at least three of the 27-member crew, the U.S. Coast Guard (USCG) says. Another 18 crew members were still missing late last week. The Bow Mariner, owned by ...
CN strike hurts shippers in Canada.(Canadian National)(Brief Article)
Mar 10, 2004 ... Industry is feeling the impact of a 5,500-employee strike at Canadian National (CN), according to the Shippers' Summit, a coalition including the Canadian Chemical Producers' Association (Ottawa), the Canadian Fertilizer Institute (Ottawa), and the Canadian Industrial Transportation ...
Fuller acquires adhesives and resins business in Portugal.(Probos)(Brief Article)
Mar 10, 2004 ... H.B. Fuller says it has acquired the adhesives and resins operations of Probos (Oporto, Portugal). Terms were not disclosed, but First Analysis (Chicago) says the purchase price was about $20 million-$25 million. The acquired business consists of water-based, hot melt, reactive and ...
Injunction halts Bayport terminal construction.(Galveston Bay)(Brief Article)
Mar 10, 2004 ... The Port of Houston Authority has agreed to a preliminary injunction halting construction of a proposed Bayport container and cruise terminal in upper Galveston Bay. The injunction was issued in response to a lawsuit brought by local activist groups including the Galveston Bay Conservation ...
Cefic cuts EU output growth forecast.(Brief Article)
Mar 10, 2004 ... Cefic has cut its 2004 output growth forecast for the European Union (EU) chemical industry. Cefic says output of chemicals, excluding pharmaceuticals, will grow 2% in the EU this year, versus its previous forecast of 2.6% (CW, July 2/9, 2003, p. 8). EU chemicals output including ...
Borealis closes in on profitability target.(Brief Article)
Mar 10, 2004 ... Borealis is on track to achieve a previously announced "trend-adjusted" return on capital employed (ROCE) target of 11% in 2004, says CFO Clive Watson. The company's trend ROCE increased from 6% in 2002, to 8%, last year, despite "unprecedented volatility" in polyolefin markets, Watson ...
Rhodia faces mid-year deadline for divestment proceeds.(Brief Article)
Mar 10, 2004 ... Rhodia must generate divestment proceeds of at least g400 million ($497 million) by midyear to comply with terms of a recently announced refinancing of the company's debt, according to a regulatory filing. Half of the proceeds must be in cash, the filing says. Rhodia previously said it ...
Grande Paroisse to become a subsidiary of total.(Brief Article)
Mar 10, 2004 ... Atofina's Grande Paroisse fertilizers subsidiary will become an "independent, direct subsidiary" of Total, following Atofina's recently announced restructuring, Atofina says. Total, Atofina's parent, recently announced plans to spin off a ...
Hercules drops PP fiber transaction.(Brief Article)
Mar 10, 2004 ... Hercules says it has dropped its proposed acquisition of polypropylene (PP) fiber maker Meraklon (Terni, Italy) "as a result of difficulties encountered in obtaining antitrust regulatory approval" (CW, Aug. 20, 2003, p. 24). No further ...
EU paraquat approval challenged.(Brief Article)
Mar 10, 2004 ... A six-member coalition composed of trade unions and environmental groups has filed a lawsuit with the European Court of First Instance challenging a European Commission decision last year to reauthorize paraquat for use throughout the European Union (EU) (CW, Oct. 15, 2003, p. 5). The ...
BASF offers to study fipronil effects ...(Brief Article)
Mar 10, 2004 ... BASF says it has told the French government it is willing to commission an independent research institute to study the causes of declining bee populations in France. BASF's offer follows the government's decision last ...
... Introduces 'eco' product logo.(Brief Article)
Mar 10, 2004 ... BASF has introduced an "eco-efficiency" label to identify those products that it says are the best in class at combining low economic cost with low impact on the environment. BASF says it is the first company to label products in this way. Products ...
Sumitomo aims to double profits.(Brief Article)
Mar 10, 2004 ... Sumitomo Chemical says it aims to double annual net profits, to 65 billion [yen] ($595 million), by the fiscal year ending March 31, 2007. The company is targeting a 15% ...
Arch to buy Avecia's biocides business.(top of the week)
Mar 10, 2004; ... Arch Chemicals says it has signed a definitive agreement to acquire Avecia's biocides operation for $210 million, a deal that significantly strengthens Arch's U.S. position in pool chemicals, analysts say. Arch has agreed to pay $200 million in cash and 446,500 Arch common shares to ...
Food maker buys ICI's food ingredients.(Brief Article)
Mar 10, 2004; ... Food and food ingredients manufacturer Kerry Group (Tralee, Ireland) has agreed to acquire the food ingredients business of ICI's Quest International subsidiary for $440 million, ICI says. The business produces cultures, emulsifiers, enzymes, hydrocolloids, proteins, and yeast, and has ...
EU imposes tariffs on U.S. imports in retaliation to FSC tax breaks.(United States/Americas)(Foreign Sales Corporation)
Mar 10, 2004; ... The European Commission began imposing tariffs on U.S. exports to the European Union (EU) last week in retaliation for the failure by the U.S. to repeal export tax breaks included in the Foreign Sales Corporation (FSC) law. The EU sought sanctions against the U.S. for unfair trade ...
Regulators seeks more information on IMC-Cargill fertilizer merger.(business & finance news)(Brief Article)
Mar 10, 2004; ... IMC Global and Cargill say they have received a request for additional information from the Department of Justic (DOJ) related to the proposed merger of their fertilizer businesses (CW, Feb. 4, p. 9). The merger would create the largest producer of phosphate and potash in the world, with ...
Buffett sells last stake in Great Lakes.(Brief Article)
Mar 10, 2004 ... Berkshire Hathaway (Omaha), the investment firm controlled by Warren Buffett, has sold its remaining 1% stake in Great Lakes Chemical for about $11 million, according to ...
Lord opens auto center, adds to board.(Brief Article)
Mar 10, 2004 ... Adhesives maker Lord (Cary, NC) says it has opened a sales and laboratory facility at Wixom, MI to serve the automotive sector. Lord says the facility will house its automotive sales ...
BOC completes helium upgrade.(Brief Article)
Mar 10, 2004 ... BOC says it has completed upgrades that have doubled the size of of its Bessemer, AL helium transfill facility. Capacity specifics were not ...
CMAI acquires consulting firm.(Geerdes International (Richmond, VA))(Brief Article)
Mar 10, 2004 ... Chemical Market Associates (CMAI) says it has acquired Geerdes International (Richmond, VA), a fiber ...
Kline to Buy Etonwood office.(Brief Article)
Mar 10, 2004 ... Kline & Co (Little Falls, N J) says it has agreed to acquire the ...
Texas Petrochemicals plans a post-bankruptcy IPO.(United States/Americas)
Mar 10, 2004; ... Texas Petrochemicals (TPC; Houston) says it has signed an agreement with Ramius Capital Group (New York) and Sandell Asset Management (New York) under which the private equity firms will provide as much as $80 million in equity and debt financing to TPC. The deal is subject to approval by ...
Rhode Island lead paint trial postponed.(United States/Americas)(Brief Article)
Mar 10, 2004; ... Rhode Island has postponed a landmark lead-based paint retrial until April 2005. The state's first trial of the paint companies resulted in a hung jury in 2002 (CW, Nov. 6, 2002, p. 15). The retrial had been scheduled to begin in April, but was delayed at the request of the state's ...
IBM settles birth defects suit.(United States/America)
Mar 10, 2004; ... IBM has settled a lawsuit brought by the child of a former IBM employee who was born with a brain disorder and several physical deformities. The suit alleged that the birth defects were the result of the plaintiff's mother's exposure to chemicals at a chip manufacturing plant at East ...
GE wins a round in Hudson PCB dispute.(United States/America)(General Electric )(Brief Article)
Mar 10, 2004 ... The U.S. Court of Appeals for the District of Columbia has ordered a lower court to reopen the lawsuit filed by General Electric (GE) against EPA, charging that the 1980 Superfund law is unconstitutional because it deprives companies of their right to judicial review. The ...
Monsanto to clean up Sauget site for Solutia.(Brief Article)
Mar 10, 2004; ... Monsanto says it will pay for the remaining remediation needed at a former solvents plant at Sauget, IL. Solutia, the chemical business spun off from Monsanto in 1997, had agreed to clean up the site prior to its bankruptcy filing last December, but has since asked the bankruptcy court to ...
BASF acquires maker of polyurethane foams.(Foam Enterprises Inc)(BASF AG)(Brief Article)
Mar 10, 2004; ... BASF says it has acquired Foam Enterprises (Minneapolis), a maker of rigid polyurethane (PU) foams, for an undisclosed amount. Foam Enterprises had sales of about $80 million in 2003, and makes rigid PU foams for the spray, pour, froth and molding markets, which include roof and wall ...
Ecolab names Baker as next CEO; buys R&D facility.(business & finance news)(Douglas M. Baker appointed as chief executive officer)(purchases Cray Research facility)(Brief Article)
Mar 10, 2004; ... Ecolab says that Douglas M. Baker, the company's president and CO0, will succeed Allan L. Schuman as CEO, effective July 1. Baker has also been elected to Ecolab's board. The company says that Schuman is expected to retain his title as chairman until at least December 31, 2005. Baker ...
Airgas makes two more packaged gases deals; plans bond offering.(United States/Americas)(acquisitions)
Mar 10, 2004; ... Airgas has announced the acquisitions of two more packaged gas suppliers. The company is acquiring Interstate Welding Sales (Marinette, WI), a $35-million/year distributor of welding equipment supplies; industrial, specialty, and medical packaged gases; and fire protection systems. Airgas ...
Cefic, commission close to agreement on reach impact study.(Europe/Mideast)
Mar 10, 2004; ... Cefic, the European Commission, and employers' federation Unice (Brussels) aim to sign a memorandum of understanding within a few days for a detailed assessment of the industry impact of the proposed European Union (EU) chemical policy, Cefic says. ACC president and CEO Greg Lebedev ...
Shell names new chemicals CEO; van der Veer gets top job.(business & finance news)(Rob Routs appointed as chief executive officer)(Brief Article)
Mar 10, 2004; ... Rob Routs has been named CEO of Shell Chemicals with immediate effect, succeeding Jeroen van der Veer who has been promoted to chairman of Royal Dutch/Shell. Routs will retain his responsibilities as board member/oil products at Royal Dutch Petroleum. He has not held previous management ...
Airport extension threatens Ticona plant.(business & finance news)(planning runway)(Brief Article)
Mar 10, 2004; ... Ticona and Fraport, the operator of Frankfurt airport, are at loggerheads over plans to build a new runway. The runway would end just 500 meters from Ticona's Kelsterbach polyacetals plant, "heightening danger to human life and restricting future growth of the site" because its proximity ...
China okays Monsanto's GM crops.(Asia/Pacific)(approval certificates for Monsanto's genetically modified corn, cotton, and soybeans)(Brief Article)
Mar 10, 2004; ... Chinese officials have issued final import approval certificates for Monsanto's genetically modified (GM) corn, cotton, and soybeans--the country's first permanent approvals for GM food crops. The approval covers one version of Monsanto's Roundup Ready corn, Roundup Ready soybeans, ...
PTT to take control of Bangkok polyethylene?(Asia/Pacific)(Petroleum Authority of Thailand negotiates to acquire)(Brief Article)
Mar 10, 2004; ... Petroleum Authority of Thailand (PTT) and its Thai Olefins Co. (TOC) affiliate are negotiating to acquire a controlling 40.23% stake in Bangkok Polyethylene (BPE) from Bangkok Bank, according to a Bangkok Post report last week. The companies declined to comment. PTT owns 44.9% of TOC. ...
Degussa buys [H.sub.2][O.sub.2] maker.(acquisition of PT Risjad Brasali Peroxide)(Brief Article)
Mar 10, 2004 ... Degussa says it has acquired hydrogen peroxide ([H.sub.2][O.sub.2]) producer PT Risjad Brasali Peroxide (Cikareng, Indonesia) from Risjad Brasali Industries (Jakarta), and renamed the business PT Degussa Peroxide Indonesia. Terms were not disclosed ....
Nuplex buys dispersions maker.(Nuplex Industries acquired Colour Dispersion Co.)(Brief Article)
Mar 10, 2004 ... Nuplex Industries (Auckland) says it has acquired Colour Dispersion Co. (CDC; Wetherill Perk, Australia) for an undisclosed amount ....
Honam restarts HDPE plant.(high-density polyethylene plant)(Honam Petrochemical Company Ltd.)(Brief Article)
Mar 10, 2004 ... Honam Petrochemical says it has restarted a high-density polyethylene (HDPE) plant at Yeochon, Korea that was ...
Pakistan to sell fertilizer unit.(Pak China Fertilizer )(Brief Article)
Mar 10, 2004 ... The government of Pakistan has put Pak China Fertilizer (PCF; Hafipur, Pakistan) up for sale. The ...
Bayer plans isocyanates expansion in Germany.(new construction projects)(Bayer AG )(Brief Article)
Mar 10, 2004; ... Bayer plans to expand isocyanates capacity at Brunsbutel, Germany, CW has learned. The company recently received approval from the local authorities to raise methylene di-para-phenylene isocyanate (MDI) capacity by 22,000 m.t./year, to 163,000 m.t/year, and expand toluene diisocyanate ...
Tecnimont wins contracts in China, Russia, and Saudi Arabia.(new construction projects)(PetroChina Company Ltd. contract to Tecnimont S.p.A.)(Brief Article)
Mar 10, 2004 ... PetroChina has awarded a contract to Tecnimont for a 200,000-m.t./year low-density polyethylene (PE) plant at Lanzhou, China, Tecnimont says. The plant will use Basell's Lupotech T technology and will be completed in 2006. The total investment cost is estimated at $100 million. Meanwhile, ...
Borouge to decide soon on next expansion phase.(new construction projects)(Borouge Private Ltd. joint venture)(Brief Article)
Mar 10, 2004 ... Abu Dhabi National Oil Co. (Adnoc) and Borealis will decide by mid-year whether to proceed from a prefeasibility study to a full feasibility study for a previously announced expansion of their 60-40 Borouge joint venture at Ruwais, Abu Dhabi, says Borealis CFO Clive Watson (CW, Dec. 24/31, ...
Gail studies gas cracker options in India.(new construction projects)(Haldia Petrochemicals)(Brief Article)
Mar 10, 2004 ... Gas Authority of India (Gail; New Delhi), says it has begun preliminary studies for a gas cracker in the state of Assam and a naphtha cracker in Kerala. No further details were disclosed. Gail is expanding ethylene capacity at its Auriya, India complex from 300,000 m.t./year, to 440,000 ...
Pakistan seeks investors for proposed naphtha cracker ...(new construction projects)(Karachi Chamber of Commerce and Industry)(Brief Article)
Mar 10, 2004 ... The Karachi Chamber of Commerce and Industry (KCCI; Karachi) says it is looking for investors to establish a naphtha cracker in Pakistan, the country's first such unit. A delegation from KCCI recently visited India for discussions with Reliance Industries, to determine whether Reliance ...
... Approves construction of fertilizer complex.(new construction projects)(Pakistan's Board of Investment)(Al-Noor Group)(Brief Article)
Mar 10, 2004 ... Pakistan's Board of Investment (BOI; Karachi) says it has approved construction of a $200-million fertilizer complex at Dhabeji, Pakistan. Al-Noor Group (Karachi) has acquired land for the ...
Jubail United readies delayed Alpha-Olefin Award.(new construction projects)(contract awarded to alpha-olefins)(Brief Article)
Mar 10, 2004 ... Sabic subsidiary Jubail United Petrochemical, expects to award the engineering, procurement, and construction services contract for a previously announced alpha-olefins complex within 2-3 months, CW has learned. The company had planned to award the contract earlier, but contractors' bids ...
Public markets open up.(Financing Chemicals)(Cover Story)
Mar 10, 2004; ... Public equity markets are warming to chemicals once again, and private equity owners of chemical firms are gearing up to launch initial public offerings (IPO), bankers say. Stock valuations as a multiple of earnings have reached their highest level in 18 months, currently offering better ...
Pioneer's gummy soybeans.(innovation)(researchers identified a gene that produces galactomannan)(Brief Article)
Mar 10, 2004 ... Researchers at DuPont's Pioneer Hi-Bred International subsidiary report in Science that they have identified a gene found in guar and carob plants that produces galactomannan, a gum used bythe food industry, and transferred it to soybeans. The ...
Sumitomo, CDT link in PLED.(innovation)(Cambridge Display Technology)(polymer organic light-emitting display)(Brief Article)
Mar 10, 2004 ... Sumitomo Chemical and Cambridge Display Technology (CDT; Cambridge, U.K.) say they have agreed to cooperate in the development and scale-up of polymer organic light-emitting display (PLED) materials for use in flat-panel displays. The companies say ...
A novel inorganic fullerene.(innovation)(Brief Article)
Mar 10, 2004 ... Scientists from the Laboratoire de Cristallographie et Sciences des Materiaux (Caen, France) say they have synthesized an inorganic analogue of the spherical carbon molecule fullerene. The molecule is a fullerenoid oxide made of aluminum spheres, filled by strontium and oxygen species ...
Nanophase adds a new oxide.(innovation)(silver-doped nanocrystalline tin oxide)(Brief Article)
Mar 10, 2004 ... Nanophase Technologies (Romeoville, IL) has announced pilot availability of silver-doped nanocrystalline tin oxide. Nanophase says it is targeting the material for certain industrial antimicrobial applications such as marine ...
An electrochemical route to silicon.(Research)(Brief Article)
Mar 10, 2004; ... Scientists from Wuhan University (Wuhan, China) and the University of Nottingham (Nottingham, U.K.) say they have developed an electrochemical route to silicon that is lower cost and more environmentally friendly than the traditional process, which involves the reduction of silicon dioxide ...
Bayer lowers the cost of making chlorine from HCl.(Digest)(Brief Article)
Mar 10, 2004 ... Bayer MaterialScience says it has developed an electrolytic process to make chlorine from hydrochloric acid that reduces electricity consumption by 30% compared to existing technologies. The process, dubbed Oxygen Depolarized Cathode (ODC), incorporates a fuel cell into the process that ...
Super-tough diamonds via chemical vapor deposition.(Digest)(Brief Article)
Mar 10, 2004 ... A group headed by researchers at the Carnegie Institution's Geophysical Laboratory (Washington) says it has devised a chemical vapor deposition method to produce gem-size synthetic diamonds that is up to 100 times faster than conventional methods, and produces crystals that are more than ...
Chlor-alkali.(Market Assessment)
Mar 10, 2004 ... It appears that optimism towards the $75/ton increase in chlorine prices is gathering momentum. Several merchant sellers report tight supply, and more than one producer have put their customers on order control. Olin put its customers on order control March 1, and PPG Industries recently ...
Bayer raises biologics production efficiency.(Drug Manufacture)(Bayer Biological Products )(Brief Article)
Mar 10, 2004; ... Bayer Healthcare subsidiary BayerBiological Products (Bayer BP) has "significantly" enhanced the efficiency of its biologics manufacturing operations as a result of an efficiency program developed by consulting firm Celerant (Lexington, MA), CW has learned. Bayer BP manufactures ...
Syngenta links with biotech firm to purify plant-based pharmaceuticals.(Biopharma)(Syngenta AG forms alliances with SemBioSys Genetics Inc.)(Brief Article)
Mar 10, 2004 ... Syngenta says it has formed an alliance with biotech firm SemBioSys Genetics (Calgary, AB) to develop processes for purifying therapeutic drugs grown from genetically engineered crops. Terms were not disclosed. SemBioSys says its technologies "hold the promise to significantly reduce the ...
Hexal buys Degussa plant.(pharmaceuticals & fine chemicals)(Hexal AG acquires Degussa AG)(Brief Article)
Mar 10, 2004 ... Generic drugs firm Hexal (Holzkirchen, Germany) says it has agreed to acquire Degussa's pharmaceutical intermediates plant at Radebeul, Germany. Financial terms were not disclosed. Degussa had planned to close the plant by yearend with the loss of 300 workers if it failed to find a buyer ...