NEWS CAPSULE

06 April 1998 00:00  [Source: ICB Americas]

Huntsman Expansion Set

Huntsman has completed a 40-million-pound expansion of its Port Neches, Tex., butadiene facility, bringing the plant's total annual capacity to 850 million pounds. Huntsman sells the majority of its butadiene to the synthetic rubber and nylon markets for the production of tires, nylon, automotive belts and hoses, and specialty products.

IMC Completes Harris Deal

IMC Global has completed its acquisition of salt and soda chemical producer Harris Chemical Group Inc. and its Australian affiliate, Penrice Soda Products Pty, for $1.4 billion. Under the terms of the agreement, IMC Global purchased all of Harris Chemical's equity for $450 million in cash and assumed approximately $950 million of debt.

FDA Approves Sucralose

Food and Drug Administration has approved sucralose, a low-calorie sweet-ener manufactured by McNeil Specialty Products Company, a wholly owned subsidiary of Johnson & Johnson. FDA is allowing the product in 15 food and beverage categories, including baked goods and baking mixes, beverages, dairy products, processed fruits and fruit juices. McNeil says that in addition to FDA, the Joint FAO/ WHO Expert Committee on Food Additives has also approved sucralose.

Goodyear Expands Polymers

Goodyear Chemical has increased capacity of its synthetic polymer plant in Beaumont, Tex., by 10,000 tons. The $14 million expansion will be followed by another 18,200-ton capacity increase to be completed in 1999. Both are part of a $600 million expansion to strengthen its position as a leading developer and supplier of synthetic rubber.

Kerr-McGee Inks TiO2 Buy

Kerr-McGee Chemical LLC closed the purchase of the European titanium dioxide pigment business of Bayer AG. Kerr-McGee sees the addition of the European operations to its existing production facilities in the US and Australia as a means of strengthening its worldwide business.

Spartech Buys Polycom

Spartech Corporation has completed its purchase of Polycom Huntsman Inc. for $135 million. Polycom is a leading supplier of proprietary polymer compounds and color and additive concentrates. It has annual sales of approximately $115 million.

DuPont Opens Plant

DuPont Argentina AS has opened its $10 million carpet yarn plant in Buenos Aires as part of a plan to invest $50 million in the region during the next five years and double its production of nylon yarn in the area to 5,000 tons.

Olin Debuts Electronics Site

Olin Microelectronics Materials has completed its new ultra-high-purity process chemicals plant and distribution center in Zwijndrecht, Belgium. The $20 million facility, located on the site of Olin's existing photoresist plant, will enable Olin to provide process chemicals for its European customers. Product was previously shipped from Olin's Mesa, Ariz., facility.

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