The Chemical World This Week INDUSTRY & BUSINESS
AUGUST 2,
1965
CONCENTRATES
• Olin Mathieson last week signed a contract with the Government to supply composite metal (copper strip and cupronickel strip) to the U.S. Mint to make the new nonsilver dimes and quarters. Olin will use a new proprietary process to produce the composite material, but has given no details of the process.
proposes to issue to implement the new law which permits the naming of fibers that make up less than 5% of a fabric (C&EN, June 7, page 21 ). Under the FTC proposal, to be listed on the label such fibers must have a clearly established and definite functional significance where present in the product in the amount specified on the label.
• Du Pont has bought 10% of Ocean Science and Engineering, Inc., a privately owned Washington, D.C., corporation engaged in ocean engineering, undersea surveying and exploration, and research ship operations. Ocean Science's president, Willard Bascom, says the sale will provide capital for the company to expand its océanographie projects. The company owns a vessel designed to search for gems beneath the sea. Named Rockeater, this drilling ship is prospecting for diamonds off the coast of southwest Africa. Another expedition is searching for gold beneath the sea off Alaska.
• France and Japan are getting together in another scientific field—peaceful uses of atomic energy. The two countries have exchanged docu ments relating to joint cooperation in this area, including exchange of scientific and technical information and technical personnel, training of technical personnel, and promotion of projects aimed at development of peaceful uses of atomic energy. Just two months ago, France and Japan reached a similar accord regarding cooperation in radiation chemistry (C&EN, May 24, page 33).
• cis-M-Polybutadiene rubber will be made in Australia under a patent license and knowhow agreement between Goodrich-Gulf Chemicals and Australian Synthetic Rubber Co., Ltd. Foster Wheeler Corp., New York City, will build a $4.5 million plant for the Australian company at Altona, near Melbourne, to be on stream by late next year. The Australian company is currently the only producer of styrene-butadiene rubber in Australia, and the new plant will be the first stereorubber facility in that country.
• West Germany's largest synthetic rubber producers will jointly make polyisoprene and polybutadiene. Chemische Werke Huels, A.G., and Farbenfabriken Bayer, A.G., will each own 50% of a new company, Stereokautschuk Werke. Stereokautschuk will produce ci$-l,4-polybutadiene and m~l,4-polyisoprene at plants in Dormagen and Huels. Combined capacity for the stereo polymers will be more than 40,000 long tons a year. Huels has already teamed up with Farbwerke Hoechst, A.G., to build an ethylenepropylene terpolymer plant (12,000 long tons a year).
ί Glen Alden Co. says it will buy only the 1 million shares of McKesson & Robbins stock for which it initially committed itself. Early in July, Glen Alden offered to buy McKesson stock from shareholders at $49 a share, provided at least 1 million shares were offered (C&EN, July 19, page 17). When its offer expired July 23, it had been tendered 2.3 million shares. Glen Alden says difficulties in borrowing enough to purchase more than 1 million shares was one of the considerations in its decision. One million shares represents 23.5% of McKesson's outstand ing stock. The 2.3 million shares would have given Glen Alden a 54% holding. • Small quantities of fibers in a fabric must serve some useful purpose if the name of the fiber is to be listed on the fabric label. This is the gist of a rule the Federal Trade Commission
• American Metal Climax is vying for recogni tion as a major factor in the aluminum busi ness. The company has formed a new division, AMAX Aluminum Co., to consolidate its alumi num operations. The consolidation includes Kawneer Co., fabricators of architectural and industrial aluminum products; Hunter Engineer ing Co., fabricators of aluminum sheet, mill prod ucts, and special machinery and equipment; and Apex Smelting, a secondary aluminum smelter. Also included in the consolidation is the 50% interest that AMAX holds in Intalco Aluminum Corp/s smelter now under construction in Bellingham, Wash. AMAX will get its primary aluminum from the Intalco operation. AMAX says that sales of its aluminum operations totaled close to $150 million last year, about one third of total company sales. AUG. 2, 1965 C&EN
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