In October of 1996, Olin
announced a series of strategic initiatives that were designed to
create a stronger, more focused and more valuable company. To
begin with, Olin spun off to shareholders our former Ordnance and
Aerospace divisions as Primex Technologies, Inc.
We also announced the sale of our TDI and ADI isocyanates businesses to Arco Chemical for $565 million in cash. While Olin was a leading producer of TDI in North America, we neither had a presence in important complementary products such as MDI, nor a strong propylene oxide position for flexible polyols. We also sold our surfactants businesses at our chemicals' complex in Brandenburg, Ky. to BASF and Pilot Chemical Company.
Olin used the proceeds from the TDI sale and other divestments to repurchase Olin common stock, to pay down debt, and to purchase DuPont's 50% share in Niachlor -- a joint venture chlor alkali plant in Niagara Falls, N.Y. The company also invested in a new chlor alkali plant in McIntosh, Alabama. The new Sunbelt plant was built for $200 million as a joint venture between Olin and Geon, a major Olin customer in the polyvinyl chloride (PVC) market. Geon takes 100% of the plant's chlorine for its use in making PVC resins, while Olin in turn markets the plant's high-purity caustic soda.
Once these strategic actions were completed, Olin had what amounted to two different sets of businesses with entirely different dynamics. On the one hand, the company's specialty chemicals businesses were driven by the need to supply customers with tailored chemicals and technology and a high level of technical customer support. On the other hand, Olin's more traditional basic materials businesses competed more on price and sold into more mature, slower growth markets.
In mid-1998, Olin announced that it would spin off its specialty chemical businesses as a separate, publicly traded company. The purpose of the spin off was to free each of the new companies -- Olin and the spun off company -- to focus exclusively on growing its own businesses and competitive advantages. On February 8, 1999, Olin spun off its specialty chemical businesses as Arch Chemicals, Inc. Around that time, every Olin stockholder received one share of Arch Chemicals stock for every two shares of Olin stock held.
Following the spin off of Arch Chemicals, Olin became a $1.5 billion company that is a leading North American producer of copper alloys and other metals, ammunition, and chlorine and caustic soda. One of the world's best basic materials businesses, the company today is comprised of three divisions -- Olin Brass, Winchester (both of which are headquartered in East Alton, Ill.) and the Chlor Alkali Products Division, which is headquartered in Cleveland, Tenn.
Olin Brass is the world's leading developer of high performance copper alloys and is the U.S. market share leader in copper and copper alloy strip. Winchester is the world's largest ammunition producer and a leading producer of small caliber ammunition in North America. And Chlor Alkali Products is the largest supplier of chlorine and caustic soda in the eastern United States and the fourth largest nationwide. Today, Olin has approximately 6,700 employees, principally in North America.
We at Olin are excited to be writing a new chapter in our long, proud history. In the months and years ahead, we will fulfill our bright promise by capitalizing on our leadership positions in copper alloys, ammunition and chlorine and caustic soda. We'll do so by intensely focusing on customer needs, aggressively managing costs and pursuing synergistic growth opportunities.
AstraZeneca PLC was formed on 6
April 1999 through the merger of Astra AB of Sweden and Zeneca Group PLC of the UK. The merger represented the
combination of two companies with similar science-based cultures
and a shared vision of the pharmaceutical industry.
The AstraZeneca Board believes that the merger will improve the combined companies' ability to generate long-term growth and shareholder value through:
Global power & reach in sales and marketing
・ Major primary care presence, particularly in gastrointestinal, cardiovascular and respiratory medicine
・ Leading position in a number of specialist/hospital markets, including oncology and anaesthesia
・ Ability to deliver the potential of existing and future products through the power and reach of a combined global sales and marketing resource
・ Widespread class coverage in key therapy areas, such as cardiovascular and respiratory disease, due to complementary nature of products
Stronger R&D platform for innovation led growth
・ Substantial research and development (R&D) expenditure - over $2.5 billion annually
・ Strong combined development pipeline
・ Potential for further strengthening of the pipeline by enhanced discovery and development capability through greater scale and focus on selected areas and technologies - in particular, complementarity in cardiovascular, respiratory, central nervous system and anaesthesia/ analgesia R&D should help to deliver significant benefits
・ Research partnerships - to supplement its own R&D expertise, AstraZeneca will continue to work with external partners, such as academic institutions and other pharmaceutical companies, to broaden its range of early exploratory research and to allow access to a wider base of scientists and new technologies
Greater financial strategic flexibility
・ Financial strength and scale to give AstraZeneca's management greater strategic flexibility to drive long-term earnings growth
・ Substantial operational efficiencies resulting in cost savings
The 1990s was a time of great change for ICI Pharmaceuticals with the birth of Zeneca and then AstraZeneca, one of the world's leading pharmaceutical companies, at the end of the decade.
By the 1990s, ICI Pharmaceuticals employed more than 12,000 people. It had 21 production sites and 150 sales offices around the world, and major research laboratories in the USA, France and the UK.
In 1993, ICI demerged three of its businesses (Pharmaceuticals, Agrochemicals and Specialties) to form a separate company, Zeneca.
Zeneca continued to build on its pharmaceutical inheritance in cardiovascular, anti-cancer, anti-infective and anaesthetic medicines. Research and effective licensing strategies in respiratory and central nervous system medicine also brought great rewards.
In 1995, Casodex (bicalutamide) was launched for the treatment of advanced prostate cancer. A new long-acting 3-month depot formulation of Zoladex (goserelin acetate) was also released, which represented a significant development in drug delivery for which Zeneca received the UK Queen's Award for Industry.
In respiratory medicine, the leukotriene receptor antagonist Accolate (zafirlukast) was launched in 1996 for the treatment of asthma. Leukotriene receptor antagonism represents the first novel approach to asthma therapy in 20 years.
In central nervous system medicine, 1997 saw the release of Seroquel (quetiapine), an atypical anti-psychotic agent, for the treatment of schizophrenia and other psychotic disorders. Zomig (zolmitriptan), a selective 5-hydroxytryptamine1B/1D (5-HT1B/1D) receptor agonist, was also launched for the treatment of acute migraine (licensed from Glaxo Wellcome).
On 6 April 1999, Astra officially merged with Zeneca to form AstraZeneca. The merger represented the combination of two companies with science-based cultures and a shared vision of the pharmaceutical industry.
At Astra of Sweden
Early in this decade, the organisation of Astra's international marketing was expanded, and several licensing agreements renegotiated to give the company control over the marketing of its products in major markets. Local marketing companies were acquired in Italy and Spain in 1990 and 1991. In 1994, Astra invested approximately SEK 8 billion in raised ownership (90%) in Astra Japan and in the formation of Astra Merck Inc. in the USA.
The largest expansion of Astra's research and development in modern times was carried out in 1995 with acquisition of new research facilities in the UK (Astra Charnwood) and USA (Astra Arcus USA).
In 1996, Losec (omeprazole) achieved the position as the world's biggest-selling pharmaceutical. The success of the Turbuhaler inhalation system for Pulmicort (budesonide), Oxis (formoterol) and Rhinocort (budesonide) respiratory agents continued.
Astra shares were listed on the New York Stock exchange from May 1996.
In 1997, Astra launched Atacand (candesartan cilexetil), a new angiotensin II type 1 (AT1)-receptor blocker, for the treatment of hypertension to further support the broad portfolio of cardiovascular drugs. In July 1998, the Astra Merck relationship in the USA was restructured to form Astra Pharmaceuticals, L.P., and in the same year the advanced formulation of Losec, Losec MUPS (Multiple Unit Pellet System) tablets, reached its first markets.
ICI Completes Acquisition of Unilever Speciality
ICI has completed the acquisition of the Speciality Chemicals businesses of Unilever for a debt free price of $8 billion (£4.9 bn). The businesses are:-
・ National Starch, a world leader in industrial adhesives and number one in specialty starches
・ Quest, one of the world's leading fragrance, food ingredient and flavours companies
・ Unichema, a global leader in oleochemicals
・ Crosfield, a major producer of silicates, zeolites and silicas
ICI Chairman Sir Ronald Hampel welcomed the businesses into the ICI Group. "The acquisition is a major milestone in delivering a new ICI for the new century, "he said. "It will move ICI's product portfolio more towards market driven businesses supported by outstanding selling skills and science.
"The portfolio of businesses in ICI is well positioned to develop and deliver sustainable profitable growth over the coming years."
The deal was first announced in May 1997.
Pharmacia Corporation has emerged as a leading global pharmaceutical enterprise with a robust product portfolio, wide geographic reach and balance, and a $2 billion research engine to drive new product flow.
The roots of Pharmacia
Corporation date back almost 150 years to 1853 when a leading
Italian pharmacist, Carlo Erba, started his own company, which
later became Farmitalia Carlo Erba. This company would later
unite with Kabi Pharmacia, which began in 1931. These two
companies, along with Pharmacia Aktiebolag, form the three main
points of origin for Pharmacia AB, a Swedish-based company.
In the United States, Pharmacia traces its roots back to 1886. It was then that W.E. Upjohn, M.D., established The Upjohn Pill and Granule Company of Kalamazoo, Michigan, (USA). The company continued its growth throughout the 19th century, eventually evolving into an innovative, international company.
In 1995, Pharmacia & Upjohn was formed through the merger of Pharmacia AB and The Upjohn Company. Pharmacia & Upjohn became a global provider of human healthcare products, animal health products, diagnostics and specialty products. In 1998, Pharmacia & Upjohn relocated its global headquarters from the United Kingdom to New Jersey (USA). In September 1999, the company established its global headquarters on a 70-acre campus in Peapack, New Jersey. This site is now the management and pharmaceutical headquarters for Pharmacia Corporation.
Monsanto was formed in 1901 when a high-school dropout and entrepreneur, John F. Queeny, founded the company in St. Louis, Missouri (USA), and began producing saccharin, an artificial sweetener. Together with Dr. Louis Veillon, a chemist from Switzerland, Queeny helped grow Monsanto into one of the largest chemical companies in the United States. In 1927, Monsanto registered as a public company and stock was first issued on Oct. 10, 1929. Following saccharin, other products such as aspirin, caffeine, and vanilla were being produced.
As Queeny and his son, Edgar, grew Monsanto by aggressive licensing and acquisitions, as well as by in-house research, another company also was prospering. G.D. Searle & Co., formed in 1888 by a young druggist named Gideon Daniel Searle, was an innovative company developing many "firsts." These include the first bulk laxative, the first motion-sickness drug, the first oral contraceptive, the first once-a-day calcium channel blocker for the treatment of hypertension, and many other innovative products. Likewise, Searle discovered and introduced aspartame, a hugely successful sugar substitute. G.D. Searle & Co. had its headquarters in Skokie, Illinois. In 1985, G.D. Searle & Co. became the pharmaceutical unit of Monsanto.
(モンサント社とアメリカン・ホーム・プロダクツ社の合併 → 破談)
Monsanto further defined itself when, in August 1997, shareowners of the company approved the spin-off of its chemical business, Solutia Inc. In less than 100 years, Monsanto established itself as a proven leader in the agricultural and pharmaceutical businesses.
On April 3, 2000, Monsanto and Pharmacia & Upjohn completed a merger creating a dynamic and powerful new competitor in the pharmaceutical industry. This new companyーPharmacia Corporationーis a high-performance competitor. Working in teams as part of a global organization, we are building one of the best-managed companies in the industry. We are responding as a partner to meet the diverse needs of the people we serve, through a flow of innovative medicines, products and services. By doing so, we are delivering best-managed performance for our shareowners: superior long-term growth and profitability.
spin-off of its remaining 84% ownership of Monsanto to its current shareholders. →spin-off
Pfizer to acquire Pharmacia Corporation
As Pharmacia Completes Monsanto
SpinOff, Monsanto CEO Says Company Retains Focus and Strategic
As previously announced, at the close of business today Pharmacia Corporation will distribute its 84-percent stake in Monsanto Company to Pharmacia shareowners via a special stock dividend. This distribution will complete Pharmacia's spinoff of Monsanto and establish Monsanto as a 100-percent publicly traded company.
In marking the occasion, Monsanto President and Chief Executive Officer Hendrik A. Verfaillie said Monsanto's focus would remain on its long-term commitment to agriculture and the strategy it has built around its customer base. "Today marks an important milestone, affirming Monsanto's place as a company solely dedicated to agriculture," said Verfaillie.
"However, this is just one milestone in a larger evolution. We've assembled a company around our integrated solutions strategy, and we believe that our strategy uniquely positions us as a leader in the agricultural industry." Monsanto's customer-driven integrated solutions strategy includes seeds, biotechnology traits and agricultural chemistry. The company enhances its strengths in these three individual elements by combining them to provide integrated solutions for farm productivity and food quality, Verfaillie said.
"In the past few years, commodity agriculture has been besieged by challenges ranging from depressed prices to extraordinary weather," said Verfaillie. "Our intention is to focus our efforts on solutions that will improve farmers' bottom-line productivity. This is something we see as a timeless, underlying benefit that would be recognized in any market condition." In addition to Monsanto's business commitment to farmers, Verfaillie also has committed the company to the New Monsanto Pledge, a code of conduct for doing business. The Pledge includes five areas of commitment: delivering benefits to farmers and the environment; dialogue with interested parties; transparency with information and regulation; respect for other points of view; and sharing of technology.
In connection with the spinoff of Monsanto from Pharmacia, Verfaillie also announced that Christopher J. Coughlin, of Morristown, New Jersey, will resign from the Monsanto board of directors effective today. Coughlin, 50, is executive vice president and chief financial officer of Pharmacia and has been a member of the Monsanto board since March 2000. "We thank Chris for his service and dedication to Monsanto shareowners during the past two years on our board," said Verfaillie.
This change to the Monsanto board brings the number of directors to nine. Verfaillie said Monsanto will look to add an independent director to the Monsanto board in the future. Monsanto Company (NYSE: MON) is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information on Monsanto, see: www.monsanto.com.
Aventis Reduces its Shareholding in Rhodia, Retains Economic Interest
Strasbourg, France -Aventis announces today the reduction of its stake in Rhodia to 15.3% from 25.2% following a definitive sale and purchase agreement with Credit Lyonnais concerning 17.8 million Rhodia shares (40% of its Rhodia shareholding). As a result of this transaction, Aventis will hold 27.5 million Rhodia shares and Credit Lyonnais will have acquired 9.9% of Rhodia’s share capital. The sale will be formally completed by the end of April. The price will be the market price of the Rhodia shares on the day prior to the closing of this transaction.
Separately, Aventis and Credit Lyonnais have reached agreement whereby Aventis will retain an interest in the future evolution, whether positive or negative, of the Rhodia share price, for a period of up to five years.
Commenting on this transaction, Patrick Langlois, Vice Chairman and Chief Financial Officer of Aventis, said: “This transaction is an important step in our continued focus on our core pharmaceutical activities and reaffirms our commitment to our shareholders to exit the non-core industrial activities. In addition, this transaction is a first step to comply with the requirement to reduce the Aventis shareholding in Rhodia to below 5% by April 2004, pursuant to the 1999 agreement with EU and US antitrust authorities. The structure of this transaction enables us to retain the upside potential as valuations of chemical companies improve in conjunction with a recovery in the economic cycle and as Rhodia executes its’ business plan. Of course, we will continue to seek ways to divest significant portions of our remaining shareholding in Rhodia,” concluded Langlois.
In addition to Rhodia, Aventis holds a 12% stake in the Swiss specialty chemicals company Clariant. Given the recent decline in the market value of these companies, Aventis intends to book a provision in its first quarter results to reflect the current market value of these companies relative to their book value.
Aventis is dedicated to treating and preventing disease by discovering and developing innovative prescription drugs and human vaccines. In 2002, Aventis generated sales of ? 17.6 billion, invested ? 3.1 billion in research and development and employed approximately 71,000 people in its core business. Aventis corporate headquarters are in Strasbourg, France. For more information, please visit: www.aventis.com
Statements in this news release other than historical information are forward-looking statement subject to risks and uncertainties. Actual results could differ materially depending on factors such as the availability of resources, the timing and effects of regulatory actions, the strength of competition, the outcome of litigation and the effectiveness of patent protection. Additional information regarding risks and uncertainties is set forth in the current Annual Report on Form 20-F of Aventis on file with the Securities and Exchange Commission.
Notes to editors:
On the occasion of the creation of Aventis in 1999, Aventis agreed to progressively dispose of its stake in Rhodia pursuant to the antitrust review process carried out by the European Commission in Europe and by the Federal Trade Commission in the United States.
Specifically, in October 1999, Aventis decided to sell immediately part of its stake in Rhodia via an equity offering (thus reducing its interest in Rhodia from 67.3% to 25.2%) and to simultaneously issue Exchangeable Bonds with respect to its remaining interest in Rhodia.
On November 28, 2002, Aventis announced a cash tender offer to buy back the Exchangeable Bonds in order to enhance its flexibility for the disposal of its stake in Rhodia.
On January 17, 2003, all the Exchangeable Bonds had been repurchased and cancelled and the shares, which were underlying the tendered Bonds, are kept by the Escrow Agent until Aventis completes their disposal. As a consequence, the shares sold today to Credit Lyonnais will be released by the Escrow Agent immediately prior to their transfer to Credit Lyonnais.
May 14, 2003 Financial Times
In pole position/ PKN Orlen, Poland.
PKN Orlen is the largest chemical establishment in Poland. Its history is indicated. Its turnover in 2002 was Zloty 16.8 bn (EUR 3.9 bn/$4.3 bn), which was 1.2% lower than in 2001. Earnings before interest rose by 19% to Zloty 735 M.
The company has the largest refinery in Poland and it is the most efficient of its type in Europe It makes feedstock for the integrated petrochemicals and polymers plants.
Uhde is upgrading the aromatics plant by the addition of a new unit using the Uhde Morphylane technology, coming on stream in 2Q 2004 to make 400,000 tonnes/y of benzene and toluene.
PKN Orlen holds 75% of Zaklady Azotowe Anwil, which has the biggest polyvinyl chloride (PVC) plant in Poland, and also makes nitrogen fertilizers and polyethylene (PE) packaging, using ethylene from PKN Orlen.
PKN Orlen made 2 m tonnes of petrochemicals in 2002 which was 30% more than the 1.6 m tonnes it made in 2001. Demand in Poland for polyolefins is increasing at 8-13%/y and half of the supply comes from imports.
PKN Orlen and Basell have established a 50:50 joint venture (jv) Basell Orlen Poliolefins to construct a 400,000 polypropylene (PP) plant and a 320,000 tonnes/y high density polyethylene (HDPE) plant using the Spheripol and Hostalen Basell technology, and starting up in 1H 2005.
PKN is expanding its ethylene capacity from 360,000 tonnes/y to 660,000 tonnes/y and its propylene capacity from 240,000 tonnes/y to 445,000 tonnes/y to supply the jv.
The PKN low density polyethylene (LDPE) plant with a capacity of 150,000 tonnes/y will be taken into the jv and the capacity will be reduced to 105,000 tonnes/y when the HDPE plant is started up. The PKN PP plant has been recently expanded to 140,000 tonnes and it will be part of the jv, although the old PP plant will be closed. The advantages of the jv are discussed.
Chemicals (MCH - NYSE) is one of the leading chemical companies
in the world.
We supply millions of pounds of chemicals each year to manufacturers for use in thousands of consumer and industrial products. In short, we work hard to improve the fundamentals of daily life.
Millennium Chemicals is…
|・||The world's second-largest producer of titanium dioxide (TiO2) and the largest merchant seller of titanium tetrachloride (TiCl4) in North America and Europe.|
|・||A leading producer of fragrance chemicals|
|・||The second-largest producer of acetic acid and vinyl acetate monomer in North America, and through its partnership interest in LaPorte Methanol Company, LP, a partner in a leading U.S.A. producer of methanol.|
|・||A 29.5% owner of Equistar Chemicals, LP, the second-largest producer of ethylene and the third-largest producer of polyethylene in North America.|
Millennium Chemicals' corporate headquarters are located in Red Bank, New Jersey. Millennium Chemicals' global network includes 4,000 employees on five continents. View our directory for a complete listing of office and manufacturing locations.
2004-2-6 Asia Chemical Weekly
Ciba to focus on Asia for all new plants
Asia's fundamental importance to
the growth plans of Swiss specialty chemicals company Ciba was
underlined here on Tuesday by chairman and chief executive Armin
Meyer when he said all future capacity expansions would be
concentrated in the region.
Meyer, who was speaking at the company's annual results press conference, said investments in the traditional regions of Europe and the US would focus primarily on maintaining world-class standards and process improvements.
"We don't plan any new plants in Europe or the US," said Meyer. "It doesn't make sense."
Meyer stressed that Ciba has very modern, well-equipped plants in Europe and North America. "Of course we will modernise and eliminate bottlenecks," he said. But all major new greenfield plants will be located in Asia, with China the most likely location.
Ciba has budgeted around SF250m ($198m/Euro160m) on annual capital expenditure over the next two to three years, said Meyer. About 60% will be spent on maintaining or improving environmental health and safety, debottlenecking and further automation.
The remaining 40% will be invested in new production lines, mainly in the home and personal care, plastic additives and coating effects segments.
In defending the size of Ciba's capital expenditure budget, Meyer said it did not include computers, software or research and development (R&D). "And you need less money to build in Asia," he added.
Meyer also explained that by using standardised technology and systems, the cost of new plants could be reduced.
2004/2/17 Novartis 日本
Novartis completes strategic acquisition to strengthen number two position in global medical nutrition business
・ New presence in US retail
medical nutrition channel, access to Japanese market and strong
brand portfolio benefit Novartis Medical Nutrition
Novartis has completed the acquisition of Mead Johnson & Company's global adult medical nutrition business in a USD 385 million cash transaction. No divestments were required to obtain regulatory approval of the deal, which officially closed February 13, 2004.
The acquisition adds strong brands like Boost® , Isocal® and Ultracal® to Novartis Medical Nutrition's portfolio and expands its ability to meet the medical nutritional needs of a growing outpatient and ageing population.
Novartis Medical Nutrition now enjoys a strong presence in the fast-growing US retail channel for medical nutrition products, a platform in the Japanese market and increased opportunities to build its existing institutional medical nutrition business.
Announced on December 16, 2003, the acquisition includes the brands, trademarks, patents and intellectual property assets of Mead Johnson & Company's adult medical nutrition business.
Novartis Medical Nutrition, with global sales of USD 815 million in 2003 (including Nutrition & Sante), offers a complete range of enteral (tube feeding) and oral nutrition products and devices tailored to the varying needs of patients and healthcare professionals. The product range encompasses supplements, which are taken orally, as well as other products administered through tube feeds and specific medical devices. Its key brands include Isosource® , Novasource® , ResourceR, Impact® and Compat® .
Novartis AG (NYSE: NVS) is a world leader in pharmaceuticals and consumer health. In 2003, the Group's businesses achieved sales of USD 24.9 billion and a net income of USD 5.0 billion. The Group invested approximately USD 3.8 billion in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ about 78 500 people and operate in over 140 countries around the world. For further information please consult http://www.novartis.com.
Mead Johnson Nutritionals
Mead Johnson Nutritionals' worldwide leadership in nutrition can be traced back nearly a century - to Edward Mead Johnson himself, the company's namesake and founder. In 1888, the life of E. Mead's baby son, Ted, was in danger because he was not thriving on his feedings and had to be fed a cooked "gruel" mixture. Years later, memory of this experience would inspire E. Mead to develop a product that would eventually lead to today's worldwide leader in infant formula sales, of Enfamil and Enfalac.
E. Mead first co-founded Johnson & Johnson with his brother. After a third brother joined the company, E. Mead decided to pursue other interests and formed the American Ferment Company, which he renamed Mead Johnson & Company in 1905. As he started his company, he explored a variety of products; however, his strongest interest was in scientifically based nutritional products.
Mead Johnson & Company became a wholly owned subsidiary of Bristol-Myers Company (now Bristol-Myers Squibb Company) in 1967. Bristol-Myers Squibb is a diversified worldwide health company. It is a leading maker of innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatological disorders, and cancer, as well as osmotic care, wound management, nutritional supplements, and infant formulas.