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OM Group, Inc. Revises Third Quarter Estimates
CLEVELAND, Sept. 19 -- OM Group, Inc. today announced that, based on preliminary estimates, it expects earnings per diluted share for the 2002 third quarter will be below its prior earnings guidance of $.89 to $.94 per share.
James P. Mooney, Chairman and CEO, stated, "If the current trends continue through the end of the quarter, cobalt volumes will be up 8 to 10 percent; nickel will continue to contribute as expected; auto catalysts will show double-digit growth; and metals management will be in line. However, with average cobalt prices in the quarter approximately 29 percent lower ($6.61 per pound versus $9.25 per pound a year ago) and three units of our Precious Metal Chemistry segment (Technical Materials, Jewelry and Electroplating) projected to be below expectations due to weak economic conditions, we currently expect the 2002 third quarter earnings per diluted share will be in the range of $.82 to $.86, versus $.84 reported in the third quarter of 2001. With this range, net income for the 2002 third quarter would be up approximately 14 to 20 percent compared to the same period a year ago." A Dow Jones News Wire story, which appeared earlier this week, combined earnings guidance provided in July of 2002 with more recent comments from Mooney. The result was a published report that readers of the story could conclude that Mooney had affirmed then current earnings estimates. Mooney will be a speaker at the Credit Suisse First Boston 7th Annual Leveraged Finance Chemical Conference on September 23rd at 1:10 p.m. (EDT), the Credit Suisse First Boston 15th Annual Chemicals Conference on September 24th at 11:15 a.m. (EDT) and at the Banc of America Securities 32nd Annual Investment Conference on Wednesday, September 25th at 7:30 a.m. (Pacific). The company will offer audio-casts of each of these presentations on the Investor Relations page of its web site at www.omgi.com . OM Group, through its operating subsidiaries, is a leading, vertically integrated international producer and marketer of value-added, metal-based specialty chemicals and related materials. The company supplies more than 1,700 customers in 50 countries with some 625-product offerings, primarily categorized as base metal chemistry, precious metal chemistry and metal management products. OM Group products serve 30 major industries, including aerospace, appliance, automotive, catalysts, ceramics, coatings, electronics, fuel cells, hard metal tools, magnetic media, petrochemical, plastics, rechargeable batteries, rubber, stainless steel and other specialty chemicals. Headquartered in Cleveland, Ohio, OMG operates manufacturing facilities in the Americas, Europe, Asia, Africa and Australia, with approximately 5,200 employees worldwide.
The Wercs adds members to sales, services and technology team ALBANY, New York (October 30, 2002) - Citing accelerated growth, The Wercs, a provider of Material Safety Data Sheet (MSDS) software, has appointed eight new members to its sales, service and technology team. The company said the appointments coincide with increases in its sales staff and client base in Europe. AT Plastics Announces Improved Third Quarter 2002 ResultsBRAMPTON, Ontario--Oct. 29, 2002--AT Plastics announced today its results for the three and nine months ended September 30, 2002. Q3 Highlights: Shell selects mySAP Enterprise Portal for employee productivity and collaborationTHE HAGUE, Netherlands (September 17, 2002) – Shell has selected the mySAP Enterprise Portal (mySAP EP) from SAP for global deployment. According to Shell, it selected mySAP because of its need to integrate its information systems, both SAP and non-SAP, into an integrated employee portal. Cryocon Signs Agreement with Massachusetts Industrial DistributorOGDEN, Utah--Sept. 17, 2002--Cryocon Inc. recently signed a licensing agreement with Johnson Packings and Industrial Products Inc., an East Longmeadow, Mass. distribution and fabrication company. American Fire Retardant Corporation Announces Strategic Alliance with Signature International, Inc.SAN DIEGO--Sept. 17, 2002--American Fire Retardant Corporation, a fire protection company that specializes in fire prevention and fire containment today announced that the company has formed a strategic alliance with Signature International, Inc Milacron Elects Harold J. Faig President and Chief Operating Officer; Ross A. Anderson Named ControllerCINCINNATI--Sept. 16, 2002--Milacron Inc. has elected Harold J. Faig president and chief operating officer effective immediately. H.B. Fuller to List Common Shares On the New York Stock ExchangeST. PAUL, Minn. --Nov. 1, 2002--H.B. Fuller Company today announced that it plans to lists its common shares on the New York Stock Exchange under the new ticker symbol "FUL". Trading is expected to begin on the NYSE on Monday, December 2, 2002. Roadway Express' Robert B. Carr Named Senior Vice President Corporate and International Sales; Stan M. Friend Appointed Vice President Corporate SalesAKRON, Ohio--Nov. 1, 2002--Roadway Express, Inc. today announced that Robert B. Carr has been named Senior Vice President -- Corporate and International Sales. Concurrent with the appointment of Carr, the company announced that Stan M. Friend was named Vice President -- Corporate Sales and Officer of the Company. Both appointments are effective January 1, 2003. Honeywell launches Advanced Formula ManagerPHOENIX, Arizona (October 31, 2002) - The Industry Solutions business of Honeywell Automation and Control Solutions has launched its Advanced Formula Manager (AFM), a calculation solution designed to transform critical plant data from Honeywell's Uniformance Plant History Database (PHD) into process information through user-defined equations and formulas. Ferro Announces Resignation of Chief Financial OfficerCLEVELAND, Nov. 4 -- Ferro Corporation announced today the resignation of Bret W. Wise as senior vice president and chief financial officer. Mr. Wise, who has served as the chief financial officer since 1999, will pursue an opportunity in the life sciences industry. Trade-Ranger and OFS Portal to enable electronic transactions between buyers and suppliersHOUSTON (October 31, 2002) - Trade-Ranger, an e-procurement marketplace for the oil and gas and chemicals industries, and OFS Portal, which represents suppliers of oilfield products and services, have signed an agreement that will provide a framework to enable members of both organizations to transact electronically with each other. The Yankee Group predicts strong annual growth rates for IT outsourcingA new report by The Yankee Group's Technology Management Strategies research and consulting practice predicts the worldwide market for centralized IT outsourcing will reach $95 billion for 2002 and grow by 12% per year for the next four years. Yankee forecasts a smaller market for decentralized IT outsourcing, projecting it will reach $85 billion by 2002 and grow at a rate of 10% per year over the next four years. OM Group, Inc. Comments on Sale of SharesCLEVELAND, Oct. 31-- OM Group, Inc. today commented on a Form 4 filed today with the Securities and Exchange Commission by James P. Mooney, the Company's Chairman and Chief Executive Officer. The Form 4 reported the sale by Mr. Mooney on Tuesday of approximately 710,000 shares of the Company's common stock. Air Products launches electronics Web siteLEHIGH VALLEY, Pennsylvania (October 14, 2002) - Air Products has launched a Web site for its semiconductor customers around the world. The site, located at (www.airproducts.com/electronics), is designed to offer instant access to detailed information on the company's product and service portfolio. The Shaw Group Announces Financial Results for Fourth Quarter and Fiscal Year 2002BATON ROUGE, La. --Oct. 14, 2002--The Shaw Group Inc. today announced a 62% increase in earnings to $31.3 million, or $0.70 per diluted share, for the three months ended August 31, 2002. This compares to earnings of $19.3 million, or $0.45 per diluted share, for the three months ended August 31, 2001. Fourth quarter fiscal 2002 revenue increased 224% reaching $1.2 billion, compared to $385.7 million for the fourth quarter of fiscal 2001. Silgan Holdings Revises Third Quarter EstimatesSTAMFORD, Conn. --Oct. 14, 2002--Silgan Holdings Inc. stated today that it expects third quarter 2002 net earnings to be in the range of $1.30 to $1.35 per diluted share. Rotonics Manufacturing Inc. Announces First Quarter Earnings Increased by 129%GARDENA, Calif. --Oct. 11, 2002--Rotonics Manufacturing Inc. today announced that first quarter earnings increased 129% to $361,700, or $.03 per common share, on net sales of $8,894,800 compared to earnings before cumulative effect of change in accounting principle of $157,700, or $.01 per common share, on net sales of $9,588,300 for the same period last year. Agrium Appoints New Director to BoardCALGARY, Alberta--Oct. 11, 2002--The Board of Directors of Agrium Inc. announced today that Victor J. Zaleschuk was appointed to the Board of Directors effective October 3, 2002. Vulcan Declares Quarterly Dividend On Common SharesBIRMINGHAM, Ala. --Oct. 11, 2002--The Board of Directors of Vulcan Materials Company at a regular meeting held today declared a quarterly dividend of 23.5 cents per share on its common stock payable December 10, 2002, to shareholders of record November 26, 2002. KANEB Announces Quarterly Cash DistributionsDALLAS--Oct. 10, 2002--The Board of Directors of Kaneb Pipe Line Company LLC, as general partner of Kaneb Pipe Line Partners, L.P. (NYSE:KPP), has approved a quarterly cash distribution of $0.79 for each Limited Partnership Unit. The cash distribution is payable Nov. 14, 2002, to all unitholders of record as of Oct. 21, 2002.
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