ICI advances restructuring with unit's sale
Article Abstract:
Imperial Chemical Industries PLC (ICI) has sold its US titanium dioxide operations and a plant in the UK to NL Industries Inc. for $365 million as part of its restructuring strategy. ICI's titanium dioxide operations outside the US, however, will be sold to Dupont for $750 million but is awaiting regulatory approval. ICI, which plans to focus on its specialty products coatings and materials, intends to use the proceeds from the sale to reduce its accumulated debt of 4.4 billion pounds sterling, which ICI acquired following major purchases in the specialty chemicals industry including Acheson Industries for $560 million and Unilever for 5 billion pounds sterling.
Comment:
Acquires Imperial Chemical Industries' US titanium dioxide operns & a plant in UK for $365 million
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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DuPont offers to swap shares in Conoco split
Article Abstract:
DuPont Co. announced its plans for a final split from its oil unit, Conoco Inc. DuPont is offering to exchange up to $11.65 billion (11.45 billion euros) of its Conoco shares for approximately 13% of its outstanding stock. In October 1998, DuPont raised as much as $4.4 billion from an initial public offering of its 30% holding in Conoco. DuPont is planning to sell off its remaining 70% share in Conoco in the proposed exchange of stock.
Comment:
DuPont announces plans for final split from its oil unit, Conoco
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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DuPont to cut 1,300 jobs as it trims paints arm
Article Abstract:
DuPont Co. will downsize its worldwide paints business labor force by 1,300 jobs. The company is cutting overlapping operations from its $1.89 billion (1.85 billion euros) acquisition of Herberts. DuPont announced that it would shutdown six Herberts production facilities in Latin America and Europe. The company is consolidating its operations with other plants in both regions.
Comment:
To downsize worldwide paints business labor force by 1,300 jobs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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