Volume 35, Number 11, November 2000
Elf Aquitaine and TotalFina Subsidiaries Integrate into Bostik
Since the recent merger of Elf Aquitaine and TotalFina into TotalFinaElf, based in Paris, two of its subsidiaries, Ato Findley Inc. of Wauwatosa, Wis., and Bostik Inc. of Middleton, Mass., currently are working to integrate as well.
Laurence Danon will serve as president and chief executive officer of the newly-merged company, Bostik Findley. The company has 4,500 employees across America, Europe, Australia and Asia, and production facilities and sales operations in 36 countries. In addition, Bostik Findley expects to earn approximately $1 billion in revenues within the current year for its adhesives and sealants business.
Michael Klonne will lead the new companys North American efforts under the name Bostik Findley Americas. Four business divisions will serve under Klonne: construction and distribution, industrial adhesives, laminations and nonwovens, each of which will have its own respective leader, in addition to Klonne.
As the companies integrate, Klonne said he expects the transition to go smoothly. Bostik Findley will be one of the premiere adhesives companies in the world with unparalleled technology and geographic balance. Ato Findley and Bostik have well-established, yet diverse, market and product portfolios that complement each other very nicely, he said. Theres little significant overlap in our combined lines of business, so were confident that the breadth and depth of our product offerings will make Bostik Findley a powerhouse in many demanding
In other news for the new, $73 million multinational company, Phila-delphias ELF Atochem North America Inc. has officially changed its name to ATOFINA Chemicals Inc., following the merger. Under the new arrangement, all chemical activities of the newly-merged group, TotalFinaElf, will be organized under ATOFINA.
ATOFINA will remain headquartered in Pennsylvania, where it will continue to market its molecular sieve desiccant beads and powder for insulating glass.
Flour City International Expands Operations
Flour City International Inc., based in Kingsport, Tenn., is expanding its range of business, with pending operations in both California and Asia. The company recently announced that it has signed Memorandums of Understanding with two California-based companies and a Shanghai-based curtainwall construction company.
Under Flour Citys agreement with Siemens Solar Industries LP and Atlantis Energy Systems, the three companies will develop a team to work together to develop and implement marketing strategies for Building Integrated Photovoltaic (BIPV) modules. As the union begins, Seimens, a world leader in manufacturing BIPV modules and a subsidiary of Atlantis, will work with Flour City to promote the product to architects, real estate developers and builders.
Aligning ourselves with Siemens Solar Industries and Atlantis Energycompanies with the proven ability to envision and reach the next level of technological development within solar-generated energy productsprovides us a major advantage in establishing our presence in the building and construction industries as a provider of technologically advanced, integrated photovoltaic curtainwall systems, said Flour Citys president, Edward M.Boyle.
In addition to this agreement, the company recently announced that it has also signed a Memorandum of Understanding with a Shanghai-based curtainwall construction company to acquire 70 percent ownership of the company. Already the owner of a manufacturing facility in China and a subsidiary office in Shanghai, Flour City hopes the new venture will help it to increase revenues and to extend its business in Asia.
Our business plan for fiscal 2001 calls for 30 percent growth in revenues, Boyle said. We have already enjoyed significant revenue growth in Asia with contracts from Asia/Pacific countries contributing more than 50 percent of our revenue for the first six months of fiscal 2000. Boyle continued, We believe we can significantly increase our revenues from China, in particular Shanghai, by joining forces with a strategic partner which has a strong presence with local architects, builders and government officials. This relationship will provide the additional validity needed to quickly take advantage of the explosive high-rise construction growth market in the region.
In the September issue of USGlass, the story Boston Glassworks of Old Featured in Scientific American, was incorrectly cited as appearing in the June issue of Scientific Americans Discovering Archaeology. The story actually appeared on the magazines website as a feature article in June.