Bakelizer designated first National Historic Chemical Landmark In a ceremony last week at the Smithsonian Institution's National Museum of American History in Washington, D.G, American Chemical Society president Helen M. Free (right) and museum curator Arthur P. Molella seal with a handshake the designation of the first National Historic Chemical Landmark. The initial honorée of this ACS program to preserve historically important works is the original Bakelizer (background), the steam pressure vessel used by chemist-entrepreneur Leo H. Baekeland around 1909 to commercialize his discovery of Bakélite, the world's first completely synthetic plastic. Made by reacting phenol and formaldehyde under pressure at high temperature, this thermosetting resin eventually found use in hundreds of applications and spawned the huge U.S. plastics industry. The Bakelizer was preserved by General Bakélite Corp. and its successor, Union Carbide, which donated it to the museum in 1983.
Huntsman to buy two Monsanto businesses Continuing an acquisition spree aimed A Monsanto spokesman explains that at diversification, Salt Lake City-based 'TAB and maleic anhydride are not straHuntsman Financial Corp. last week tegic priority areas for the company, signed an agreement in principle to pur- which has had a prime focus in specialty chase Monsanto's linear alkylbenzene chemicals, agricultural chemicals, phar(LAB) and maleic anhydride businesses. maceuticals, and biotechnology for some The purchase price and funding sourc- time." LAB is used for making surfaces were not disclosed. But Huntsman Fi- tants for powder and liquid detergents, nancial says the businesses have com- as well as for household cleaners. Maleic bined average annual revenues of $200 anhydride is used to produce, among million. The companies expect to close the other things, unsaturated polyester resAns, used in a variety of products from deal before the end of the year. This move comes just two months af- bowling balls to auto parts. ter Huntsman Financial agreed to purUnder the agreement, Huntsman Fichase Texaco Chemical for $1.06 billion nancial will acquire all assets and techin a joint venture with Consolidated Press nology, but Monsanto will operate the Holdings of Sydney, Australia (C&EN, manufacturing facilities on Huntsman's Sept. 20, page 5). Huntsman Financial is behalf. Monsanto makes LAB at a plant a holding company entirely owned by in Alvin, Tex. It also is the world's largchemical baron Jon M. Huntsman and est producer of maleic anhydride, with his family, and is an affiliate of Hunts- plants in Pensacola, Ha., and St. Louis. man Chemical, the largest privately held "We are very pleased to be able to chemical company in the U.S. Combined continue our growth strategy with [this] 1993 sales for all Huntsman-run chemi- acquisition," says Huntsman. "There alcal companies will exceed $1.8 billion. ready is a great deal of synergy between The agreement with Monsanto demon- these and our existing businesses bestrates again the strategy adopted by cause we have many customers and Huntsman, 55, of purchasing chemical as- suppliers in common. At the same time, sets during industry slumps. "We've al- this acquisition will allow our chemical ways bought at the down part of cycles, group to diversify into two excellent when companies are either getting out of products which it currently does not businesses or concentrating on other ones, manufacture." as is the case with Monsanto," a HuntsMichael R. Krenek, vice president for man Financial spokesman tells C&EN. chemicals at Wright Killen & Co., man-
agement consultants to the process and related industries, agrees that "Huntsman's acquisition appears to be synergistic, as both maleic anhydride and LAB are similar to the commodity-oriented, intermediate petrochemical products Huntsman currently produces." The Huntsman group's acquisitions from Monsanto and Texaco will make it a formidable player in the soap and detergents market. Texaco Chemical's portfolio includes alcohol ethoxylates— which also are raw materials for soaps and detergents. However, says the Huntsman Financial spokesman, becoming big players in this end-use market is a consequence of the acquisitions, but was not a major driving force behind them. Industry observers show lively interest in what's next for Huntsman. "Having dropped well over a billion dollars over the past few months on acquisitions, I wonder if the shopping spree is over, or if Huntsman is going to throw another couple of packages under the Christmas tree," muses Joel Houston, president of Colin A. Houston & Associates, a Mamaroneck, N.Y.-based consulting company that tracks surfactants markets. However, the Huntsman Financial spokesman says there are no plans for further acquisitions in the immediate future. "We've completed our list and our Christmas shopping is finished, at least for this year," he says. Susan Ainsworth NOVEMBER 15,1993 C&EN 11
