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Please click on the hyperlink topics below to see the latest news and press releases on Sybron Chemicals Inc.
Sybron Chemicals Inc. Announces Buyout Proposal from Management/Citicorp Venture Capital Group
Sybron Chemicals Inc. and the Dow Chemical Company Announce Ion Exchange Alliance
Dennis J. Fiore Appointed as Vice President of Finance - Chief Financial Officer
Al Eilender Named as Executive Vice President - Corporate Development
BIRMINGHAM, NJ, October 20, 1997--Sybron Chemicals Inc. (AMEX: SYC), announced today that it received a proposal from an investor group comprised of its principal stockholder and members of the Company's management, to purchase for cash all outstanding shares of the Company not already owned by the investor group for $32.00 to $33.00 per share.
The investor group is headed by Dr. Richard M. Klein and John H. Schroeder, the Company's President and Executive Vice- President, respectively, and includes Citicorp Venture Capital Ltd. which is the Company's largest stockholder. The investor group is expected to include additional key members of the Company's management. The investor group presently owns approximately 45% of the outstanding shares of the Company.
The Company further announced that it has established a Special Committee of its Board of Directors, comprised of two outside Directors who will not participate in the purchase, to evaluate the proposal. The proposal is subject to a number of conditions, including negotiation of definitive agreements, procurement of necessary financing and approval of the Company's Board of Directors. The proposed transaction will not affect the Company's ongoing operations.
Sybron Chemicals Inc. is an international specialty chemical company that develops, produces and markets specialty chemicals in two main markets: Textile preparation, dyeing, printing and finishing, and Environmental (primarily related to water and waste treatment). Products include Tanatex® dyehouse chemicals and Jersey State™, Auralux™ and other finishing chemicals for the textile and carpet industries; Ionac® ion exchange resins and Purification Products Company reverse osmosis membranes for use in water treatment and special applications; specialty resins for use in reprographic and laser printer toners; Bi-Chem® biologically active seed cultures for industrial, municipal and sanitary waste treatment and groundspill clean-up. For more information on Sybron Chemicals Inc., please visit us on the World Wide Web at http://www.sybronchemicals.com/.
Dr. Richard M.
Klein, President and CEO of Sybron Chemicals Inc., recently spoke
at Donaldson, Lufkin and Jenrettes' Chemical and Specialty
Chemical Industry Conference on Wednesday, Sept. 24, 1997. Dr.
Klein discussed the performance of the company, growth
opportunities in Sybron Chemical's markets as well as prospects
for the future. The DLJ Chemical Industry Conference was attended
by leading industry executives and members of the investment
community.
BIRMINGHAM, NJ, August 26, 1997 - Sybron Chemicals Inc. (AMEX: SYC) and The Dow Chemical Company have today announced a long term supply agreement whereby Dow will provide Sybron Chemicals with a portion of Sybron's anion exchange resin requirements. The majority of the products involved will be made according to the specifications set by Sybron Chemicals. The agreement also calls for Dow to supply other products that will be additions or improvements to Sybron's line. Sybron Chemicals will continue to manufacture a broad line of ion exchange resins, including cations, ion-selective resins, high purity grades, semi-conductor grades, and other specialty products. No material write-offs are anticipated as a result of this agreement.
According to John Schroeder, Sybron's Executive Vice President for Environmental Products and Services, "This agreement allows Sybron Chemicals to improve its position as a leading supplier of ion exchange resins to the home water softening, commercial and industrial markets. We will continue to offer a broad and high quality line of products while focusing more of our resources and efforts on providing even better service to our customers." Sybron Chemicals Inc. is an international specialty chemical company that develops, produces and markets specialty chemicals in two main market segments: Textile preparation, dyeing, printing and finishing, and Environmental (primarily related to water and waste treatment).
Products include Tanatex® dyehouse chemicals and Jersey State™, Auralux™ and other finishing chemicals for the textile and carpet industries; Ionac® ion exchange resins and Purification Products Company reverse osmosis membranes for use in water treatment and special applications; specialty resins for use in reprographic and laser printer toners; Bi-Chem® biologically active seed cultures for industrial, municipal and sanitary waste treatment and groundspill clean-up. For more information on Sybron Chemicals Inc., please visit us on the World Wide Web at www.sybronchemicals.com/.
BIRMINGHAM, NJ, July 30, 1997--Sybron Chemicals Inc. (AMEX: SYC), an international producer of specialty chemicals, today announced it has acquired the global Garment Processing and Textile specialty chemicals business segments of Ivax Industries, a subsidiary of Ivax Corporation. Revenues of the acquired businesses for the latest twelve months were in the range of $19 million. The purchase price was approximately $13.8 million in cash, subject to post-closing adjustments.
Sybron expects this acquisition will be accretive to earnings in the first year. The assets acquired do not include the Ivax manufacturing facility in Rock Hill, SC. After a brief transitionary period, Sybron Chemicals will manufacture the products currently being produced by Ivax in Sybron's own facilities. Approximately 25 professional people from Ivax, including top management of these segments and key sales, marketing, R&D and international personnel, have joined Sybron Chemicals.
The existing garment processing business of Sybron Chemicals is being merged in with the Ivax business, with Bob Allen, formerly of Ivax, having worldwide profit responsibility. Included are the Ivax formulated products and definitive patents for the use of enzymes to achieve a "stone-washed" effect on denim and other cotton leisure wear. Ivax textile chemical business and personnel are being combined with Sybron's substantially larger business for preparation, dyeing, printing and finishing of textiles.
Dr. Richard M. Klein, President and CEO of Sybron Chemicals, said, "We are very excited about this transaction that fits with our strategy of acquiring selected niche-businesses to enhance our position as a leading supplier of high-performance specialties to the textile industry worldwide. We have acquired the premier business in the fast-growing field of chemical specialties for garment processing. It has major strengths in technology and in its organization that provide great synergies with our existing business activities, our worldwide infrastructure and our objectives to grow in developing areas, which is where more and more garment processing is taking place. Overall, we believe this combination will enable us to serve the industry better with a broader product line and enhanced capabilities to meet current and future needs."
Sybron Chemicals Inc. is an international specialty chemical company that develops, produces and markets specialty chemicals in two main markets: Textile preparation, dyeing, printing and finishing, and Environmental (primarily related to water and waste treatment). Products include Tanatex® dyehouse chemicals and Jersey State™, Auralux™ and other finishing chemicals for the textile and carpet industries; Ionac® ion exchange resins and Purification Products Company reverse osmosis membranes for use in water treatment and special applications; specialty resins for use in reprographic and laser printer toners; Bi-Chem® biologically active seed cultures for industrial, municipal and sanitary waste treatment and groundspill clean-up. For more information on Sybron Chemicals Inc., please visit us on the World Wide Web at http://www.sybronchemicals.com/.
BIRMINGHAM, NJ, July 21, 1997 -- Sybron Chemicals Inc. (AMEX: SYC) today announced the appointment of Dennis J. Fiore as Vice President Finance - Chief Financial Officer, filling a position that has been vacant since 1996. Fiore, 46, is currently Vice President, Finance/Chief Financial Officer of InterMetro Industries, a manufacturer of storage systems. Formerly, Fiore was Vice President-Controller at Chemical Leaman Tank Lines, Inc., and prior to that he held management positions in operations and finance at Honeywell, Inc. Fiore holds a Bachelor of Arts degree in Pre-Law from LaSalle University, an MBA degree in Accounting from Rutgers University, and is a CPA. He will start in his new role by August 15.
Sybron Chemicals is an international specialty chemical company that develops, produces and markets specialty chemicals in two main market segments: textile preparation, dyeing, printing and finishing, and Environmental (primarily related to water and waste treatment). Products include Tanatex® dyehouse chemicals and Jersey State™, Auralux™ and other finishing chemicals for the textile and carpet industries; Ionac® ion exchange resins and Purification Products Company reverse osmosis membranes for use in water treatment and special applications; specialty resins for use in reprographic and laser printer toners, Bi-Chem® biologically active seed cultures for industrial, municipal and sanitary waste treatment and groundspill clean-up. For more information on Sybron Chemicals Inc., please visit us on the World Wide Web at http://www.sybronchemicals.com/.
BIRMINGHAM, NJ, October 10, 1996 -- Sybron Chemicals Inc. (NASDAQ: SYCM), announced today that it has filed an application to list its Common Stock on the American Stock Exchange (AMEX). Sybron expects to begin trading on the AMEX today under the symbol SYC.
In commenting on this development, Dr. Richard M. Klein,
President and Chief Executive Officer, said:
"The AMEX is an auction market that offers our investors
access to better pricing, narrower spreads on stock trades, and
improved trading efficiencies. AMEX also provides customized
shareholder relations programs that should facilitate getting our
message out to the right people. We believe that listing on the
AMEX will help us attract additional investors and increase the
image and visibility of Sybron Chemicals in the investment
community."
Sybron Chemicals Inc. is an international specialty chemical company that develops, produces and markets specialty chemicals in two main markets: textile preparation, dyeing, printing and finishing, and environmental (primarily related to water and waste treatment). Products include Tanatex® dyehouse chemicals and Jersey State®, Auralux and other finishing chemicals for the textile and carpet industries; Ionac® ion exchange resins and Purification Products Company reverse osmosis membranes for use in water treatment and special applications; Bi-Chem® biologically active seed cultures for industrial, municipal and sanitary waste treatment and groundspill clean-up.
BIRMINGHAM, NJ, July 15, 1996 -- Sybron Chemicals Inc. (NASDAQ: SYCM), today announced the election of Mr. David I. Barton to its board of directors. Mr. Barton has a wealth of experience in the specialty chemicals industry. Most recently he was Chairman, President and Chief Executive Officer of OSi Specialties, Incorporated from its formation in March 1993 until it was sold to Witco Corporation in October, 1995. Prior to that, he spent 5 years with International Specialty Products and its predecessor company GAF Chemicals Incorporated, where he was Senior Vice President and General Manager of its specialty derivatives business. Mr. Barton also has held senior management positions during his distinguished career at Reichhold Chemicals Inc. and Loctite Corporation. According to Dr. Richard M. Klein, President and CEO of Sybron Chemicals Inc., "Dave has a great understanding of our industry and will be of tremendous value in our efforts to identify and capitalize on opportunities to grow our business".
Sybron Chemicals Inc. is an international specialty chemical
company that develops, produces and markets specialty chemicals
in two main markets: Textile preparation, dyeing, printing and
finishing, and environmental (primarily related to water and
waste treatment). Products include Tanatex® dyehouse chemicals
and Jersey State®, Auralux® and other finishing chemicals for
the textile and carpet industries; Ionac® ion exchange resins
and Purification Products Company reverse osmosis membranes for
use in water treatment and special applications; Bi-Chem®
biologically active seed cultures for industrial, municipal and
sanitary waste treatment and groundspill clean-up.
BIRMINGHAM, NJ, May 1, 1996 -- Sybron Chemicals Inc. (NASDAQ: SYCM), an international producer of specialty chemicals, today announced that Albert L. Eilender will join the Company on May 15 as Executive Vice President, Corporate Development. In this newly created position, Eilender will be responsible for identifying and implementing strategies that will generate future growth in earnings per share for the Company. He will focus on acquisitions, ventures, geographic expansion and broader utilization of the Company's technology base and other strengths.
Eilender, 53, was most recently Executive Vice President of Cambrex Corporation, an East Rutherford, NJ manufacturer of fine and specialty chemicals. In this capacity, Eilender was closely involved with corporate development activities, including mergers and acquisitions, partnering ventures, and establishment of business development offices in China and India. Prior to this he was president of two operating subsidiaries of Cambrex. He is active in numerous chemical trade societies, including recent service on the Board of Governors of the Synthetic Organic Chemical Manufacturing Association (SOCMA).
According to Dr. Richard M. Klein, President and CEO of Sybron Chemicals, "We are committed to growing our business and recognize that much of this growth must come from initiatives we take outside our current scope of activities. Al has a great understanding of our industry and a unique ability to identify and capitalize on opportunities that coincide with our company's strengths and objectives."
Sybron Chemicals Inc. is an international specialty chemical company that develops, produces and markets specialty chemicals in two main markets: textile preparation, dyeing, printing and finishing, and environmental (primarily related to water and waste treatment). Products include Tanatex dyehouse chemicals and Jersey State, Auralux and other finishing chemicals for the textile and carpet industries; Ionac ion exchange resins and Purification Products Company reverse osmosis membranes for use in water treatment and special applications; Bi-Chem biologically active seed cultures for groundspill clean-up and industrial, municipal and sanitary waste treatment.
Announcing the availability of a new, highly selective ion exchange resin called IONAC® SR-12.
More information is available.
Sybron Chemicals Inc. is pleased to announce a new experimental polymer for the toner industry XT-411. The combination of a low initial flow temperature with a broad T1-T2 range, makes this resin ideally suited as a basis for toners used in new copiers.
Sybron Chemicals Inc. is also pleased to announce T-413, a new experimental polymer for the toner industry. T-413 combines good flow properties with a polar functionality to provide an affordable material suitable for today's high-speed desktop printers.
More information is available.
Beginning in 1997, you should be noticing a logo change for the textile division in North America. As the textile market continues to become a more global market, we want our customers to know that Sybron Chemicals Inc. is indeed a global leader in textile chemicals with manufacturing and technical expertise located throughout the world.
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Sybron Chemicals Inc.
PO Box 66, Birmingham Road | Birmingham, NJ 08011
(800) 678-0020 | TEL: (609) 893-1100 | FAX: (609) 894-8641
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