entire system for monitoring hazardous materials shipments. A spokesman for the Public Utilities Commission of Ohio says the panel will look at such matters as registration and notification procedures for shipments through the state and routing some materials through less populated areas. He says some states feel the federal government has usurped their control of materials transport, and it's time for them to take a look at the issue. D
Carbide plans payout, appeals Bhopal ruling In a decision that put a halt to last winter's hostile takeover bid by GAF, Union Carbide in January announced that it would sell its consumer products businesses and distribute rights to shareholders that entitled them to a portion of the eventual proceeds. Ten days ago, the company largely completed its divestiture program. Now, Carbide intends to pay out $951 million to holders of the special rights on July 30. Holders of the 31.7 million rights at this point will receive $30 per right in a partial payment that ultimately could amount to an estimated $33.20 per right after a second payment is made. The total payout will be based on the excess of the net pretax sale proceeds over the net book value for the businesses sold, expenses, and retained liabilities. The second payment, which could come as early as September, awaits final calculations. Earlier this month, Carbide completed the sale of its home and automotive products business to First Brands Corp., a newly formed company organized by First Boston, for $800 million. At the end of June, Carbide sold its worldwide battery business (except its Indian unit) to Ralston Purina for $1.42 billion. Earlier, the company sold its share of Sony-Eveready to Sony for $12 million and netted $14 million in other transactions. The $2.24 billion total falls within Carbide's January estimate of $2 billion to $2.5 billion for the operations. An additional payment of 85 cents
per right could be made if Carbide wins a pending suit it filed in New York City courts in which it is trying to show that a number of retirees holding dividend equivalents distributed under former management incentive compensation plans are not entitled to share in the special cash distribution. Carbide issued the special rights in March. They were traded on the New York Stock Exchange, rising as high as $40 per right at one point. Last Wednesday, the rights closed at $33%. The Indian battery business operated by subsidiary Union Carbide India Ltd. has not been sold because of pending litigation stemming from the 1984 Bhopal disaster. Rights holders would receive a share of the sale proceeds unless the business is not sold by Dec. 31, 1987, or if its book value is less than $15 million, or if the net book value exceeds net sale proceeds. Separately, Carbide appealed one condition of the May 12 court ruling sending consolidated Bhopal litigation against the company to India. The appeal, which was expected (C&EN, June 30, page 9), seeks to reverse the condition that Carbide, but not India, would be subject there to legal discovery, or pretrial evidence-gathering, under the more liberal U.S. model of civil procedure. •
Japanese partner joins STN International STN International, on-line scientific and technical information network, now has a third partner. The Japan Information Center of Science & Technology (JICST) has agreed to join in the network with the American Chemical Society's Chemical Abstracts Service and Fachinformationszentrum Energie, Physik, Mathematik GmbH (FIZ) in Karlsruhe, West Germany. The long-planned-for addition of a Japanese partner will give STN International a center in Tokyo. JICST, a nonprofit organization established in 1957, is the central organization for scientific and technical information in Japan. It produces
ACS executive director John K Crum (left) and JICST president Shintaro Tabata at signing of agreement abstract journals and translations as well as operating the JICST Online Information System (JOIS) in Japan. STN International was established in 1983 by ACS and FIZ Karlsruhe as a cooperative undertaking to share resources and provide convenient on-line access in Europe and North America to various national and international scientific and technical databases. Currently, STN International provides access to more than 15 databases in chemistry, biology, physics, mathematics, and engineering through the Columbus, Ohio, and Karlsruhe service centers. In the network established by the two organizations, a particular database is loaded at only one site, eliminating duplication in file storage and updating costs. A searcher accesses the nearest host computer and is linked electronically to whichever computer in the network stores the database to be searched. Computers in the network use the same search software so that databases at any location can be searched using a single command language. The JICST Tokyo service center probably will be fully operational early in 1988. The Japan Association for International Chemical Information (JAICI) has been serving as an interim STN service center in Japan. It will continue in that role until JICST completes the necessary computer hardware modifications and installs STN search software. JAICI also will assist in supporting STN users in Japan once the JICST service center is operating. • July 21, 1986 C&EN
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