BASF 2006: chemicals – catalysts

  • Published on
    05-Jul-2016

  • View
    235

  • Download
    4

Embed Size (px)

Transcript

  • exceeding the previous years strongearnings in 2007.BASF Financial Report 2006, 14 Mar 2007, (BASF AG,Carl-Bosch-Strasse 38, 67056 Ludwigshafen,Germany. Tel: +49 21 600. Fax: +49 21 042525.Website: http://www.basf.de)

    BASF 2006: chemicals catalysts

    For its fiscal 2006 the Catalysts divisionof BASFs Chemicals division hasreported turnover of 2411 M (72 Mfor its fiscal 2005). The new Catalystsdivision consists of the catalysts andMaterials Services business ofEngelhard Corp, acquired in Jun 2006,and BASFs existing catalysts business.The company develops and producesemission-control and process catalysts,and market them worldwide. TheMaterials Services unit suppliesprecious metals and renders servicesto BASFs catalysts business and tocustomers of BASF. The company isexpanding its leading role in catalysttechnology through continuous processand product innovation, and is alsoexploiting its growth potential, primarilyin Asia. The strong demand forcatalysts in the emerging marketsprimarily contributed to this positivebusiness trend. In addition, the globalbusiness for diesel catalysts for use inheavy-duty vehicles also developedwell. New government directives onemissions have also supported thisbusiness. Sales of emission-controlcatalysts for gasoline engines in NorthAmerica (NAFTA) declined due to lowerproduction of SUVs and small trucks.The global demand for chemicalcatalysts and catalysts for oil refiningdeveloped well. In the MaterialsServices business, sales increased dueto larger trade volumes and higherprecious metal prices. Earningsexceeded the expectations thecompany had before the acquisition ofEngelhard. The integration isproceeding according to plan and thesynergies are higher than the companyhad expected before the acquisition.BASF expects to achieve annualsynergies of $200 M from theacquisition of Engelhard Corp, whichthe company intends to reach by theyear 2010. These effects arise primarilyfrom the reduction of overlappingfunctions and processes, for instance,in administration, sales and logistics.The integration means a reduction ofabout 800 jobs worldwide, primarily inthe US. The integration costs,

    excluding the use of step-up oninventories, are expected to amount toapproximately $120 M. In 2007, thecompany expects significantly highersales and earnings thanks to the full-year contribution of the acquiredbusinesses. In addition, there will bepersistent growth in the areas ofenvironmental technologies for vehiclesas well as catalysts for the chemicalindustry and oil refining.BASF Financial Report 2006, 14 Mar 2007, (BASF AG,Carl-Bosch-Strasse 38, 67056 Ludwigshafen,Germany. Tel: +49 21 600. Fax: +49 21 042525.Website: http://www.basf.de)

    BASF 2006: Acquisitions/divestitures Engelhard

    On 6 Jun 2006, BASF AG acquiredEngelhard Corp, located in Iselin, NJ.Since this date, the sales and earningsof Engelhard Corp have been includedin the BASF Group ConsolidatedFinancial Statements. The cashsettlement for 100% of the shares,including incidental acquisition costs,was 3844 M. The acquisitioncomprises 50 production sites and 22R&D centres in over 20 countries. Withthe acquisition of Engelhard, BASF hasbecome one of the leading suppliers ofcatalysts worldwide. The catalysts andMaterials Services activities ofEngelhard Corp, which made upapproximately 86% of Engelhardssales, were combined with the existingcatalysts activities of BASF to form thenew Catalysts division of the Chemicalssegment. The remaining businesses,which made up roughly 14% ofEngelhards sales, were integrated intothe existing BASF divisions of FineChemicals, Performance Polymers andPerformance Chemicals. Since theacquisition date, Engelhard hascontributed sales of 2678.1 M andincome from operations of 14.6 M tothe BASF Group. This includes chargesin connection with the integration in theamount of 111.0 M. If Engelhard hadbeen included in the BASF GroupConsolidated Financial Statements asof 1 Jan 2006, Engelhard would havecontributed sales of 4906.8 M andincome from operations of 94.1 M tothe BASF Group. A large table showspurchase price allocation for EngelhardCorp.BASF Financial Report 2006, 14 Mar 2007, (BASF AG,Carl-Bosch-Strasse 38, 67056 Ludwigshafen,Germany. Tel: +49 21 600. Fax: +49 21 042525.Website: http://www.basf.de)

    CMR Fuel Cells, Xaar, and Solvay tocooperate

    CMR Fuel cells is to cooperate withXaar (an injket printing company) andSolvay in developing a one-stagemanufacturing process for making anovel fuel cell based on the compactmixed reactant concept.Fuel Cells Bulletin, Apr 2007, 8

    Diversa and Celunol to consolidate

    Diversa and Celunol plan toconsolidate their operations into anew company that they claim will bethe first to provide an integratedtechnology package for cellulose-based biofuel ethanol production.Diversa is a firm specializing in themanufacture of enzyme cocktails withthe ability to break down cellulose intosugars. Celunol owns two criticalmicroorganisms that ferment suchsugars into ethanol. Under theagreement, Diversa will release 15 M ofits shares to Celunols stakeholders,including venture capitalists KhoslaVentures, Rho Capital Partners, andCharles River Ventures. Celunol runswhat is claimed to be the first UScellulosic ethanol facility in Jennings,LA, USA. The company expects tofinish a 1.4 M gallon/y demonstrationplant at the site by the end of 2007.This plant uses sugarcane bagasse asfeedstock. The merged companyexpects to start the first of many 25 Mgallon commercial ethanol facilities bylate 2009.Chemical and Engineering News, 19 Feb 2007, 85 (8),11

    Fine chemicals biocatalysisagreement for DSM

    An agreement for the development ofnew biocatalysis solutions has beensigned between DSM PharmaChemicals and IEP. The newsolutions would be used to makeintermediates and active ingredientsfor pharmaceuticals.Chimie Pharma Hebdo, 12 Mar 2007, (375), 6 (inFrench)

    ExxonMobils new Olgone aromatictreatment technology succeeds inJapan

    ExxonMobil Chemical TechnologyLicensing LLC (ExxonMobil) has

    MAY 2007 3

    F O C U S O N C A T A L Y S T S

Recommended

View more >