News:
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 14, 1999-- Single-Site Catalysts -- a joint venture between Catalytica, Inc. (Nasdaq:CTAL) and the Sud-Chemie Group (Munich Stock Exchange: Sud-Chemie AG) -- and the Specialty Chemical business of AlliedSignal Inc. (NYSE:ALD) announced today an agreement to jointly develop and manufacture boron co-catalysts used in a wide range of polymer applications including packaging, transportation materials, electronics materials, and medical supplies.
The alliance will combine the expertise of AlliedSignal's new FluoroSolutions(SM) business -- focused on bringing advanced technologies and leadership in fluorine-based chemistries to various markets -- with Single-Site Catalysts' expertise in the manufacturing, development, and marketing of organometallic catalysts.
"AlliedSignal's leadership in technically advanced and specialized fluorine innovation made its FluoroSolutions group an ideal partner for this venture," said Peter Kilner, general manager of Single-Site Catalysts and director of business development for Catalytica Advanced Technologies. "Their development and production capabilities will enable us to expand our product offering by providing cost-effective, leading-edge technology and manufacture of boron co-catalysts to our customers."
"Our new FluoroSolutions business provides customized `fluorine functionality' to a variety of markets," said Guy Broadbent, business director of AlliedSignal's Specialty Fluorines business. "The venture with Single-Site Catalysts is an exciting opportunity to develop new products for a high-growth market by combining Single-Site Catalysts' expertise in catalysis with our fluorine technology."
Boron co-catalysts are typically boron compounds containing fluorinated aromatic groups. In addition to traditional compounds such as tris- and tetrakispentafluorophenyl boron compounds, the companies plan to develop and manufacture other co-catalysts on a client confidential basis.
"The boron co-catalyst area is an emerging market that can provide benefits for a variety of applications in polymer manufacture," said Ian Shankland, business leader for AlliedSignal's FluoroSolutions segment. "The custom manufacture of boron co-catalysts is a great fit with our strong inorganic and organo-fluorine technologies and allows us to bring to the alliance our strength in boron trifluoride, fluoroaromatic, and fluorination technologies."
AlliedSignal Specialty Chemicals is a world leader in the custom manufacture and supply of fine and specialty chemical products and formulations for a diverse range of applications. For more information, visit the World Wide Web at specialtychem.com.
AlliedSignal Inc. is an advanced technology and manufacturing company serving customers worldwide with aerospace products and services, automotive products, chemicals, fibers, plastics and advanced materials. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. The company employs 70,400 people in some 40 countries. Additional information on the company is available on the World Wide Web at alliedsignal.com.
Single-Site Catalysts was formed in November 1998 for the custom manufacturing, process development, and marketing of organometallic catalysts. Single-Site Catalysts' primary focus is on the production and sale of single-site catalysts and co-catalysts, a new class of catalysts employed in the manufacture of polymers.
Sud-Chemie, a world-wide leader in catalysts, adsorbents, additives and environmental technology, consists of manufacturing and marketing companies on all continents. Sud-Chemie is located on the World Wide Web at sued.chemie.com.
Catalytica, Inc., through its four subsidiaries, applies its proprietary technologies to improve manufacturing and solve environmental problems. Catalytica Advanced Technologies, Inc. serves as the incubator for new catalytic technologies for industrial applications; Catalytica Pharmaceuticals, Inc. and Wyckoff, Inc. provide drug development and manufacturing products and services to the pharmaceutical industry; and Catalytica Combustion Systems, Inc. produces XONON, a catalytic product that permits essentially pollution free combustion for the energy market. Catalytica, Inc. employs approximately 1400 people and had 1998 revenues of $375 million. Find Catalytica on the World Wide Web at catalytica-inc.com.
This news release contains forward-looking statements regarding Catalytica and AlliedSignal's future development and commercialization of products and competitive positions in their markets. Actual results may differ from these statements and such differences may be material. These statements involve risks and uncertainties, including without limitation, the ability to complete new development, products, processes, the ability to market and sell those products and changes in the company's competitive position, the commercialization of boron co-catalysts and organometallic single-site catalysts, the ability to continue manufacturing catalysts, the synergies created by the partnership, and the ability to expand and accelerate the commercialization of Catalytica Advanced Technologies' proprietary technology. Catalytica and AlliedSignal undertake no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release. Investors are encouraged to review the company filings with the SEC for Catalytica and AlliedSignal for a more complete discussion of risk factors that could affect the companies' future performance.
CONTACT:
Catalytica, Inc.
Jackie Cossmon, 650/960-3000 Ext. 6204
or
AlliedSignal Inc.
Lisa Orlandini Vaga, 973/455-6073
lisa.orlandinivaga@alliedsignal.com |
