AlliedSignal To Purchase German Specialty Chemicals Company.MORRIS TOWNSHIP There are several places named Morris Township in the United States:
See: New York Stock Exchange : ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) and Hoechst AG Hoechst AG was a German life-sciences company that became Aventis after its merger with Rhône-Poulenc S.A. in 1999. It has been called "The pharmacy of the world" due to its important role in the world's drug market. today announced that AlliedSignal has agreed to purchase Hoechst's 95.8% interest in Riedel-de Haen haen v. Scots Past participle of hae. AG, a leading European specialty chemicals manufacturer located near Hanover in Central Germany. Terms of the acquisition, which is expected to be completed in the fourth quarter, were not announced. Riedel-de Haen, which employs some 1,300 people, serves the fast growing pharmaceutical and electronics industries, as well as the coatings, photo dyes and specialty pigments markets. Its 1994 sales were approximately US$250 million. AlliedSignal provides specialty chemicals to a broad industry base, including plastics, pharmaceuticals and electronics. "This is a wonderful strategic opportunity to nearly double our sales of specialty chemicals, a business we have targeted for aggressive growth worldwide," said Frederic M. Poses, Executive Vice President of AlliedSignal Inc. and President - AlliedSignal Engineered Materials. "Riedel-de Haen not only will enable us to dramatically increase our presence in high-growth European market segments; it will also provide us with many new products that will expand our portfolio in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. through our extensive distribution system." Poses said the acquisition will significantly strengthen AlliedSignal's chemical technology base by providing access to sophisticated, multi-purpose manufacturing equipment and a talented work force, including one of the foremost process engineering groups in the world. "Riedel-de Haen is a profitable, high-quality provider with leading positions in the markets it serves," said Poses, "characteristics it shares with our existing specialty chemicals businesses." Riedel-de Haen is AlliedSignal's second planned acquisition in Germany in 1995. Earlier this year, the company announced plans to purchase the assets of Polymer und Filament filament, in astronomy: see chromosphere. Rudolstadt, a producer of nylon, plastics and fibers. AlliedSignal plans to construct a world-class nylon manufacturing plant at the Rudolstadt site, primarily for plastics and industrial fibers. AlliedSignal Inc. is a US$12.8 billion advanced technology and manufacturing company serving customers worldwide with aerospace and automotive products, chemicals, fibers, plastics and advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, . The company, which employs 87,500 people worldwide, has 15,000 employees in Europe and annual European sales of approximately US$2.9 billion. CONTACT: William M. Corcoran (U.S.) George Kauders (Germany) (201) 455-6062 49-69-55-03-55 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion