Rohm & Haas to acquire company
Article Abstract:
Rohm & Haas Co. announced that it will acquire LeaRonal in a $460 million deal that will enable it to expand high-margin material production. These materials are utilized in semiconductors and printed circuit boards. Rohm & Haas' electronic materials sales will increase by as much as 60% and as a result of the deal. The company's earnings will also improve by the year 2000. In fiscal 1998, LeaRonal posted $242 million in sales. The company will be merged with Rohm & Haas' Shipley Co. unit.
Comment:
Rohm & Hass to acquire co in $460 mil deal that will enable it to expand high-margin material production
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Deal is great shakes for Rohm & Haas
Article Abstract:
Philadelphia, PA-based Rohm & Haas Co. plans to take over Chicago, IL-based Morton International Inc. for $4.9 billion. The deal is expected to increase Rohm & Haas' yearly sales by 76 percent. The combined company, which will be located in Philadelphia, will have over 22,000 employees and revenue of $6.5 billion annually. The Philadelphia-based firm announced that it expects to cut roughly 5 percent of the workforce in the next 12 to 18 months as part of a $200 million plan to cut costs.
Comment:
Philadelphia, PA-based Rohm & Haas Co. plans to take over Chicago, IL-based Morton International Inc.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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Income at Peco exceeds forecast
Article Abstract:
Peco Energy posted higher-than-expected earnings for the 1998 year. However, the company suffered a loss for the fourth-quarter of 1998. The loss resulted from write-offs that Peco took in order to lower its financial debts and labor force. Peco posted earnings of $2.65 per share for the year. This was 23 cents higher than what the majority of polled analysts predicted. The company assumed a $20 million charge to pay severance and pension costs for 1,200 laid off employees.
Comment:
Posts higher-than-expected earnings for the 1998 year
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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