HERCULES GETTING OUT
OF COTTON CHEMICALSWILMINGTON, Del. - Hercules Inc. announced that it is withdrawing from the chemical cotton business and that its chemical cotton operations at Hopewell, Va., will be shut down in early 1989.
Other facilities at the Hopewell plant, which is owned by the Aqualon Co., part of a joint venture of Hercules and Henkel KGaA, will continue to operate.
According to a Hercules spokesman, To revitalize our chemical cotton business, within the past five years the company has made capital improvements at the plant and has moved production from overseas to Hopewell. Despite these efforts, the business has suffered operating losses every year since 1985, and accordingly, the facility has been written down.
In addition to the impact on Hercules' profitability, the decision to cease chemical cotton operations is consistent with the company's desire to focus its resources on the areas of specialty chemicals and high-value-added businesses, he noted.
BASF UNIT ACQUIRES
ARGENTINE PAINT MAKER
FRANKFURT, West Germany - BASF AG subsidiary Glasurit de Argentina bought the Argentine paint manufacturer Lusol and its resin-producing subsidiary Crisa.
BASF was not previously active in the Argentine paints market.
Lusol makes automotive and industrial paints as well as architectural coatings. It has an annual capacity of about 1.6 million gallons. Crisa produces 6,000 metric tons of material a year.
BASF said the acquisition is part of its plan to target end-users and to make production more international.
BAYER TO BOOST OUTPUT
OF MDI IN EUROPE
FRANKFURT, West Germany - Bayer AG, the West German chemicals group, plans to increase its annual production capacity for methylene di-para-phenylene isocynate, or MDI, in Europe by 120,000 metric tons by 1991.
A new MDI facility will be on-stream this fall in Brunsbuettel, West Germany. The Brunsbuettel plant will produce 90,000 tons of analine a year.
Bayer also plans to build facilities for making MDI-intermediates.
In Tarragona, Spain, a production increase is planned at the Bayer Hispania Industrial plant. The Tarragona complex will produce 18,000 tons of formaldehyde a year.
LONDON - Fisons PLC announced that it has acquired the Italian pharmaceutical company, Italchimici SpA, for 31.5 million (about $55.7 million).
Italchimici, headquartered in Rome, reported 1987 sales of 11 million pounds.