Industrial Microwave Expands Board of Directors to Five
MORRISVILLE, N.C.--June 13, 2001-- Two additions add food and industrial expertise
Industrial Microwave Systems, Inc. (IMS) announced today the election of two outside directors to the company's board. The addition of William C. Burkhardt, former president and CEO of Cary, N.C.-based Austin Quality Foods, and Peter C. Browning, former president and CEO of Hartsville, S.C.-based Sonoco Products, increases the current board from three to five members and provides IMS with senior executive-level expertise in the food and industrial sectors. The board expansion coincides with successful commercialization of IMS products in three targeted industries: food processing, textiles and chemicals. "Attracting board members of Bill and Peter's caliber is another validation of IMS' future and the value of our technology," said J. Michael Drozd, chairman, president and CEO of IMS. "Now that we have successfully sold and installed equipment in all three target markets, the experience of Bill and Peter will ensure that we're well positioned to capitalize on the multi-billion dollar market opportunities at hand." Market leaders in textiles, food and chemicals are among Industrial Microwave clients, including household-name, Fortune 100 companies. IMS uses unique, patented technology to apply controlled microwave energy to continuous industrial processes that require uniform heating and drying. Burkhardt was president and CEO of Austin Quality Foods until his retirement in May 2000. He previously served as president of the bakery division of Beatrice Foods and president of National Continental Foods. He continues to serve on the boards of Capital Bank, Scana and Rex Healthcare. He was named Executive of the Year by Snack Food magazine in 1995. Browning was president and CEO of Sonoco until his retirement in July 2000. He is also a former president and CEO of National Gypsum Company and former executive vice president of Continental Can Company. Browning serves on the boards of Wachovia Corporation, Lowe's Companies, Nucor Corporation (chairman), National Service Industries and Phoenix Companies/Phoenix Home Life Mutual Insurance. Industrial Microwave was established in 1997. A growth stage company, IMS is working to translate the performance and economies of microwave energy to industrial processes that require uniformity in heating, drying, bonding, curing or cooking. Current investors include Carousel Capital Partners, Martin Marietta Materials, the North Carolina Technological Development Authority and TriState Investment Group.
Solvay confirms Elemica transactions BRUSSELS (June 12, 2001) -- Solvay (www.solvay.com) has announced the completion of contract business using enterprise resource resource planning (ERP) connections on Elemica (www.elemica.com), an online hub for the contract buying and selling of chemicals. ChemConnect partners with China Chemical City on the InternetSAN FRANCISCO, California (July 2, 2001) – ChemConnect (chemconnect.com), a provider of end-to-end e-commerce solutions for buyers and sellers of chemicals and plastics, has partnered with China Chemical City on the Internet (CCCOI), a Chinese online exchange, to establish ChemConnect China. Eastman Expects Lower Second-Quarter EarningsKINGSPORT, Tenn.-- July 2, 2001--Eastman Chemical Company announced today that it anticipates earnings for second quarter 2001 will be lower than the estimate given in its April 26, 2001, first-quarter earnings release and its Form 10-Q filing but higher than first-quarter earnings of $0.48 per diluted share. Based on preliminary information, Eastman expects that second-quarter earnings per share will be in the range of $0.53 to $0.57 before certain nonrecurring charges. Applied Extrusion Technologies, Inc. Completes Acquisition of Assets of QPF, LLCBOSTON--July 2, 2001--Applied Extrusion Technologies, Inc. (Nasdaq: AETC) today announced that it has completed its acquisition of certain assets of QPF, LLC, the oriented polypropylene (OPP) films business of Hood Companies. Assets acquired include the machinery and equipment, intellectual property, intangibles and inventory of the business. Global Economic Slowdown Affects DuPont Second Quarter EarningsWILMINGTON, Del, July 02, 2001 — DuPont said today that it estimates earnings per share for the second quarter, before one-time items, to be between $.35 and $.45. Earnings in the second quarter of 2000, before one-time items, were $.90 per share. Hello? Hello? Is anybody home?When you spend all of your time with those who love e-business and understand its potential, as I do, it’s easy to conclude that people are really starting to figure this stuff out. H.B. Fuller Announces Regular Quarterly DividendST. PAUL, Minn.--July 2, 2001--H.B. Fuller Company announced that the board of directors voted to approve the regular quarterly dividend of $0.215 per share of common stock and $0.0833 per share on all preferred stock. The dividend is payable August 10, 2001 to shareholders of record July 20, 2001. WD-40 Company Reports Third Quarter SalesSAN DIEGO--July 2, 2001--WD-40 Company Monday reported net sales for the third quarter ended May 31, 2001 of $42.7 million compared to sales of $38.3 million in the same period last year, an increase of 11%. METTLER TOLEDO Announces Appointment of Philip H. Geier, Jr. to Its Board of DirectorsGREIFENSEE, Switzerland & COLUMBUS, Ohio--July 2, 2001--Mettler-Toledo International Inc. announced today that Philip H. Geier, Jr. has been appointed to its Board of Directors. Akzo Nobel Transfers Organon Teknika's Diagnostics Business to bioMerieuxARNHEM, the Netherlands--July 3, 2001--Akzo Nobel, the international pharmaceuticals, coatings and chemicals group, has transferred Organon Teknika's in vitro diagnostics business to bioMerieux. In certain countries, however, the transfer will only come into force as soon as merger-control clearance has been obtained. bioMerieux will pay Akzo Nobel EUR 311 million for the diagnostics business on a cash and debt-free basis. As per July 1, the diagnostics activities will be consolidated into bioMerieux. webMethods provides support for Chem eStandardsFAIRFAX, Virginia (July 3, 2001) – webMethods (webmethods.com) a provider of integration software, has provided full support for the Chem eStandards through its integration platform. The webMethods platform is designed to meet the challenges of enterprise and supply chain integration within the chemical industry. Fitch Affirms UOP LLC's Commercial Paper RatingCHICAGO--July 3, 2001--Fitch has affirmed its 'F2' rating of UOP LLC's (UOP) commercial paper program. UOP continues to generate positive free cash flows through a cyclical low, supported by strong market positions in the license of oil refining and petrochemical process technology. The Rating Outlook is Stable. Airgas Announces First Quarter Earnings Release ScheduleRADNOR, Pa. --July 3, 2001--Airgas, Inc. (NYSE:ARG) will release its first quarter earnings at approximately 4:30 p.m. EDT on Tuesday, July 24, 2001 and will host a teleconference at 8:30 a.m. EDT on Wednesday, July 25, 2001. The presentation materials will be available on the Slide Presentations page of the Investor Info section of the corporate website, www.airgas.com, by 5 p.m. on July 24. A webcast of the teleconference will be available live and on demand through August 31 on the Conference Calls and Webcasts section of the website. Honeywell's Chairman And CEO Michael R. Bonsignore To Retire Following 31 Years Of ServiceMORRIS TOWNSHIP, N.J. --July 3, 2001--Honeywell's Board Of Directors Names Lawrence A. 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Solvay expands capacity for caprolactone polymersSOLVAY Caprolactones has started a multi-stage expansion at its Warrington, UK site which will more than double its capacity for caprolactone polymers over the next three years. The expansion builds on SOLVAY’s 1998 expansion in caprolactone monomer and polymers, and will meet the rapid growth in customer demand for caprolactone products in footwear, orthopedics, automotive, aerospace, and other industries. Cyclics Corporation Introduces Single-Component Low Viscosity Reactive Thermoplastic SystemsRENSSELAER, N.Y.--June 14, 2001--Cyclics Corporation, www.cyclics.com, has successfully formulated a single-component reactive system combining their low-viscosity thermoplastic CBT(TM) resin with a choice of catalysts. Magnequench Introduces New MQP-S-9-8 Spherical Isotropic PowderANDERSON, Ind.--June 14, 2001--Magnequench Inc.(R) (MQI), a global industry-leading supplier of permanent magnets materials and magnetic systems, is proud to announce its release of a new spherical isotropic powder product MQP(TM)-S-9-8. EZUtilities to Merge with Texas Commercial Resources Inc.HOUSTON--Sept. 20, 2001--EZUtilities (Pink Sheets:EZUT) announced today that it is merging with Texas Commercial Resources Inc. of Houston. Effective Sept. 21, 2001, the new name for the company will be Texas Commercial Resources Inc. and the new stock symbol will be TCRI.
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