June 2002 Additives for Polymers

before interest, taxes, depreciation and amortization (EBITDA) reached $51.4 mil- lion. For the comparable quarter of 2001, Noveon reported sales of $282.8 million, and EBITDA of $44.1 million. However, first quarter 2001 results include two months as BFGoodrich Performance Materials and one month as Noveon: not all of Performance Materials businesses were included in Noveon's acquisition on 28 February 2001.

According to the company, the 8% sales decrease from the prior year first quarter reflects lower volumes in products sold to the textile, industrial and automotive related industries, together with lower European demand, competitive pricing pres- sure, and the weaker Euro. EBITDA increased 17% compared to the same period in 2001 primarily due to lower raw material, manufacturing and selling, general and administrative costs as a result of productivi- ty initiatives, which more than offset lower sales volumes.

Noveon operates three business segments: polymer solutions, which includes the compa- ny's antioxidants and other polymer additives interests, consumer specialties, and perform- ance coatings. First quarter sales for the poly- mer solutions segment were $98.1 million, representing a decline of l 1% against the pre- vious year. The fall in revenue is attributed to reduced volumes in products used in industri- al and automotive related applications within Noveon's polymer additives product lines, lower European demand, competitive pricing pressure and the weaker Euro. EBITDA decreased 8% to $29.6 million due to lower sales volumes, partially offset by lower raw material, utility and manufacturing costs. The consumer specialties segment saw first quar- ter sales drop 5% to $66.9 million, while the performance coatings segment reported an 8% decrease in sales to $94.4 million com- pared to the first quarter of the previous year.

Contact." Noveon Inc, 9911 Brecksville Road, Cleveland. OH 44141, USA," tel." +1-216-447- 5000: URL: www.noveoninc.com

NEWS AND VIEWS

Millennium Chemicals expands capacity for nano-particle TiO 2 Millennium Chemicals reports that it has intro- duced a 200% increase in ultrafine, nano-particle TiO 2 production capacity at its facility in Thann, France. This expansion creates capacity for existing and new products for the envh'onment. The expan- sion also includes a production unit for scale-up and testing of ultrafine TiO 2 products that may be used in applications such as precursors for colour pigments, UV blockers and electroceramics.

John VonOhlen, vice president of Millennium's Performance Chemicals Business, says that this increase in nano-particle TiO 2 capacity demon- strates the company's commitment to develop- ing and providing speciality TiO 2 products and is a vital part of the strategy to grow the compa- ny's Performance Chemicals Business.

Contact." Millennium Chemicals Inc, 230 Half Mile Road, PO Box 7015, Red Bank, NJ 07701, USA; tel. +l-732-933-5000; fax: +1-732-933-5240

Clariant Masterbatches creates new positions to grow business Supplier of colour and additive masterbatches Clariant Masterbatches has established two new positions designed to support the company's growing PVC business and to expand its rela- tionships with major resin producers.

Gary Mercer, formerly a Clariant Technical Sales Representative in Mississauga, Canada, has been named PVC Product Manager and is responsible for NAFTA countries. Mercer will support the regional sales force in developing PVC masterbatches sales and services. Geoff Nesbitt, previously Technical Manager for Clariant's compounding operations in Millington, MD, has been appointed Product Manager and is charged with working to expand business with resin producers. Both Mercer and Nesbitt have extensive experience of the plastics industry, according to Clariant.

Mercer's appointment augments Clariant's added investment and increased sales activities

©2002 Elsevier Science 9