FRANCE: ELF ATOCHEM IN 1998

Article Abstract:

Of the EUR 8.74bn turnover posted by Elf Atochem in 1998 (down 1.2%), EUR 3.7bn was generated in basic chemicals (down 10%), EUR 3.1bn in performance products (+7%) and EUR 2bn in fine and industrial chemicals (+11%). Of the total EUR 584mn pre-tax operating profits posted by the group (down 6%), EUR 235mn was generated in basic chemicals (down 7.8%), EUR 255mn in performance products (+2%) and EUR 13.3mn in fine and industrial chemicals (down 13.3%). The group has the aim of reducing its operating costs by EUR 150mn in three years <1999-2002>, half in restructurations and 30% in logistics. In 1998 Atochem invested EUR 820mn (EUR 550mn in 1997). It will now invest EUR 17mn in a river transport system between the Mediterranean and the Lyon region (for intermediate materials).

Sales, profits & dividends, All Other Basic Organic Chemical Manufacturing, Chemicals & Allied Products, Chemical Manufacturing, All Other Basic Inorganic Chemical Manufacturing, Adhesives & Sealants, Adhesive Manufacturing, Fluorocarbons, Hydrogen Peroxide, Chemicals, Adhesives and sealants industry, Sealants

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FRANCE: ELF ATOCHEM TO ABSORB SMALL SUBSIDIARIES

Article Abstract:

Finiris, worth FFr 315.25mn in capital, is one of the four small subsidiaries which Elf Atochem is about to absorb. The French petrochemical group, worth FFr 3.24mn in capital assets, is also to absorb the Compagnie Financiere Atochem (FFr 100mn in capital), Societe Mediterraneenne du Brome (FFr 26.25mn) and Oxysynthese (FFr 10mn) subsidiaries.

Parent-to-subsidiary activities, Subsidiary-to-parent activities, Finiris, Compagnie Financiere Atochem, Societe Mediterraneenne du Brome, Oxysynthese

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FRANCE: MOVEMENTS AT TOTAL QATAR PETROCHEMICALS

Article Abstract:

Patrick Rambaud and Patrick Pouyanne have been elected as administrators at Total Qatar Petrochemicals, which also appointed Jean-Francois Arrighi de Casanova as its new Chairman, replacing Jacques de Boisseson.

Executive changes & profiles, Cyclic crudes and intermediates

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• Abstracts: EUROPE: STRATEGY/ACQUISITION FOR COSFIBEL. FRANCE: LORRAINE FERS TAKES PLASTIQUES DE FRANCE. FRANCE: ILENE GORDAN AT PECHINEY

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