Chemical & Engineering News

May 5, 1997


Copyright © 1997 by the American Chemical Society

MERGERS, ACQUISITIONS SHUFFLE THE RANKS OF TOP 100 CHEMICAL PRODUCERS

Rank
1996 1995 Company Chemical sales 1996 ($ millions) Change from 1995 Chemical sales as % of total sales Industry classification Chemical operating profitsa ($ millions) Change from 1995 Chemical operating profits as % of total profits Operating profit marginb Identifiable chemical assets ($ millions) Chemical assets as % of total assets Operating return of chemical assetsc
1 1 Dow Chemical $18,988.0 --1.3% 94.7% Basic chemicals $3,362.0 --21.0% 108.9% 17.7% $19,008.0 77.0% 17.7%
2 2 DuPont 18,044.0 --2.1 41.2 Diversified 3,361.0 --0.9 57.2 18.6 15,063.0 39.7 22.3
3 3 Exxon 11,430.0 --2.6 8.7 Petroleum 1,662.0 --39.2 14.9 14.5 10,715.0 11.2 15.5
4 5 Monsanto 7,267.0 0.2 78.5 Basic chemicals 697.0 --24.0 116.8 9.6 8,133.0 72.7 8.6
5 4 Hoechst Celanese 6,906.0 --6.6 100.0 Basic chemicals 500.0 --14.4 100.0 7.2 8,286.0 100.0 6.0
6 6 General Electricd 6,487.0 --2.1 8.2 Diversified 1,466.0 0.1 11.9 22.6 9,130.0 3.4 16.1
7 8 Union Carbide 6,106.0 3.7 100.0 Basic chemicals 921.0 --31.7 100.0 15.1 6,220.0 95.0 14.8
8 9 Amoco 5,698.0 0.8 15.8 Petroleum 924.0 --26.4 20.7 16.2 6,215.0 19.4 14.9
9 11 Eastman Chemical 4,782.0 --5.1 100.0 Basic chemicals 663.0 --31.2 100.0 13.9 5,266.0 100.0 12.6
10 12 BASF Corp. 4,707.0 --1.9 71.7 Basic chemicals na na na na na na na
11 14 Huntsman 4,500.0 4.7 100.0 Basic chemicals na na na na na na na
12 10 Occidental Petroleum 4,484.0 --17.1 41.1 Petroleum 683.0 --38.3 59.3 15.2 5,429.0 30.8 12.6
13 24 Praxair 4,449.0 41.4 100.0 Basic chemicals 732.0 33.6 100.0 16.5 7,538.0 100.0 9.7
14 13 Shell Oil 4,305.0 --11.1 14.9 Petroleum 297.0 --69.0 10.8 6.9 5,089.0 17.7 5.8
15 19 AlliedSignald 4,013.0 8.1 28.7 Diversified 567.0 15.2 38.0 14.1 3,453.0 26.9 16.4
16 17 ICI Americas 4,000.0 4.6 100.0 Basic chemicals na na na na na na na
17 16 Rohm and Haas 3,982.0 2.5 100.0 Basic chemicals 627.0 12.0 100.0 15.7 3,547.0 90.2 17.7
18 15 Arco Chemical 3,775.0 --7.6 100.0 Basic chemicals 540.0 --34.4 100.0 14.3 4,394.0 100.0 12.3
19 21 Ashland Oile 3,695.0 4.1 28.1 Petroleum 169.0 6.3 37.1 4.6 1,458.0 20.1 11.6
20 22 Air Productse 3,672.0 3.8 91.6 Basic chemicals 605.0 --5.2 102.4 16.5 5,676.0 87.0 10.7
21 20 W.R. Grace 3,454.1 --2.8 100.0 Specialty chemicals 420.0 44.8 100.0 12.2 3,550.0 71.8 11.8
22 18 Chevron 3,422.0 --8.9 8.0 Petroleum 299.0 --61.9 5.6 8.7 2,989.0 8.6 10.0
23 26 Phillips Petroleumd 3,185.0 6.7 20.2 Petroleum 344.0 --28.6 17.4 10.8 2,399.0 17.7 14.3
24 23 Millennium 3,040.0 --3.8 100.0 Basic chemicals 283.0 --64.1 100.0 9.3 5,601.0 100.0 5.1
25 7 Mobil 3,023.0 --50.9 3.7 Petroleum 342.0 --77.9 5.1 11.3 2,987.0 6.4 11.4
26 35 IMC Globalf 2,981.0 54.9 100.0 Agrochemicals 488.3 27.9 100.0 16.4 3,436.8 100.0 14.2
27 27 Dow Corning 2,532.3 1.6 100.0 Specialty chemicals 396.0 4.7 100.0 15.6 5,114.1 100.0 7.7
28 30 National Starch 2,455.4 2.3 100.0 Specialty chemicals 360.9 9.4 100.0 14.7 2,226.6 100.0 16.2
29 28 Lyondell Petrochemical 2,411.0 --2.2 47.7 Petroleum 337.0 --46.9 121.2 14.0 1,543.0 47.1 21.8
30 32 Akzo Nobel Inc.d 2,372.9 12.8 84.8 Basic chemicals na na na na na na na
31 29 Rhône-Poulenc Inc. 2,300.0 --4.2 100.0 Specialty chemicals na na na na na na na
32 34 FMC 2,293.1 6.5 46.1 Machinery 341.0 7.6 66.1 14.9 2,552.0 51.1 13.4
33 31 Great Lakes Chemical 2,211.7 --6.3 100.0 Specialty chemicals 445.4 --10.4 100.0 20.1 2,661.3 100.0 16.7
34 33 Hercules 2,060.0 --6.4 100.0 Basic chemicals 441.0 10.8 100.0 21.4 1,467.0 61.5 30.1
35 36 Solvay America 2,000.0 11.1 100.0 Basic chemicals na na na na na na na
36 42 Witco 1,884.4 22.1 83.3 Specialty chemicals 171.7 46.9 98.6 9.1 1,885.2 78.8 9.1
37 36 Elf Atochem 1,800.0 0 100.0 Basic chemicals na na na na na na na
38 40 PPG Industries 1,612.0 1.1 22.3 Glass products 376.0 --1.8 28.1 23.3 1,179.0 18.3 31.9
39 41 Morton Internationalf 1,611.7 3.0 44.6 Diversified 222.0 --0.7 41.2 13.8 1,427.8 51.5 15.5
40 38 Lubrizol 1,597.6 --4.0 100.0 Specialty chemicals 211.4 --1.3 100.0 13.2 1,402.1 100.0 15.1
41 43 Olin 1,586.0 5.7 60.1 Basic chemicals 207.0 47.9 79.9 13.1 1,058.0 45.2 19.6
42 92 Crompton & Knowles 1,519.1 3.7 84.2 Specialty chemicals 216.3 8.1 98.9 14.2 1,436.6 86.7 15.1
43 46 CF Industries 1,468.2 6.2 100.0 Agrochemicals 272.6 --7.8 100.0 18.6 1,455.1 100.0 18.7
44 45 International Flavors 1,436.1 --0.2 100.0 Specialty chemicals 296.5 --24.1 100.0 20.6 1,201.6 79.7 24.7
45 44 Cabote 1,434.3 --3.6 77.3 Basic chemicals 260.5 --9.2 91.9 18.2 1,427.7 76.9 18.2
46 39 Zeneca Inc.g 1,400.0 --13.9 100.0 Drugs na na na na na na na
47 56 Engelhard 1,367.0 21.1 42.9 Diversified 231.4 17.4 82.1 16.9 1,446.3 58.0 16.0
48 54 Farmland Industriesh 1,336.3 14.1 13.7 Agricultural supplies 179.0 --9.9 75.0 13.4 438.6 17.1 40.8
49 48 Arcadian Partners 1,314.0 3.7 100.0 Agrochemicals 291.0 --0.4 100.0 22.1 na na na
50 53 Nalco Chemical 1,303.5 7.3 100.0 Specialty chemicals 216.7 5.5 100.0 16.6 1,394.5 100.0 15.5
51 52 H. B. Fulleri $1,275.7 2.6% 100.0% Specialty chemicals $80.8 15.8% 100.0% 6.3% $869.3 100.0% 9.3%
52 -- Henkel of America 1,268.6 16.0 100.0 Specialty chemicals na na na na na na na
53 49 Cytec Industries 1,259.6 0 100.0 Basic chemicals 136.1 10.9 100.0 10.8 1,261.1 100.0 10.8
54 55 Borden Inc. 1,174.2 3.0 31.9 Food products 127.8 --8.8 49.2 10.9 703.1 25.6 18.2
55 64 Ethyl 1,149.7 19.7 100.0 Basic chemicals 169.7 19.2 100.0 14.8 1,095.2 100.0 15.5
56 47 Geon 1,144.4 --9.7 100.0 Basic chemicals 29.9 --76.5 100.0 2.6 736.9 100.0 4.1
57 57 Wellman 1,098.8 --1.0 100.0 Basic chemicals 68.1 --48.8 100.0 6.2 1,203.9 100.0 5.7
58 71 BetzDearborn 1,037.0 37.8 100.0 Specialty chemicals 125.7 14.4 100.0 12.1 1,418.3 100.0 8.9
59 60 Fina Inc. 1,032.0 --2.6 25.4 Petroleum 235.4 --20.4 87.4 22.8 693.0 24.3 34.0
60 -- Potash Corp. of Sask. 1,006.8 128.8 71.7 Agrochemicals 186.2 118.3 62.2 18.5 1,654.2 66.3 11.3
61 -- BP Americag 1,000.0 na 100.0 Basic chemicals 120.0 --44.4 100.0 12.0 na na na
62 50 BF Goodrich 985.0 9.5 44.0 Diversified 130.3 --1.2 54.6 13.2 876.4 32.9 14.9
63 -- DSM 954.9 11.2 100.0 Basic chemicals na na na na na na na
64 67 Courtaulds d,j 929.3 11.8 100.0 Specialty chemicals 67.2 2.4 100.0 7.2 na na na
65 65 Freeport-McMoRan 920.0 --4.2 96.1 Agrochemicals 223.9 8.7 109.0 24.3 na na na
66 62 Aristech 908.0 --11.2 100.0 Basic chemicals na na na na na na na
67 58 Georgia Gulf 896.2 --17.1 100.0 Basic chemicals 136.3 --58.4 100.0 15.2 587.9 100.0 23.2
68 51 Albemarle 854.5 31.3 100.0 Specialty chemicals 93.4 --20.1 100.0 10.9 846.3 100.0 11.0
69 66 NL Industries 851.2 --4.8 86.3 Basic chemicals 71.6 --55.6 63.1 8.4 1,064.3 87.1 6.7
70 70 Sigma-Aldrich 832.9 7.3 80.5 Specialty chemicals 193.1 8.9 84.1 23. 860.7 78.3 22.4
71 72 Degussa Corp.e 806.0 7.3 34.5 Specialty chemicals na na na na na na na
72 69 Loctite 800.0 1.9 100.0 Specialty chemicals na na na na na na na
73 61 Sterling Chemicals 790.5 --23.3 100.0 Basic chemicals 50.4 --77.9 100.0 6.4 689.7 100.0 7.3
74 68 Terra Industries 787.0 --5.1 34.0 Agricultural supplies 273.8 --19.7 92.8 34.8 1,242.9 63.1 22.0
75 75 Intl. Specialty Prod. 716.5 4.0 100.0 Specialty chemicals 136.0 7.0 100.0 19.0 1,316.9 100.0 10.3
76 73 Borden Chemicals 709.2 --4.1 100.0 Basic chemicals 28.5 --85.8 100.0 4.0 525.7 100.0 5.4
77 77 Union Camp 700.7 5.1 17.5 Paper products 66.7 --12.1 27.7 9.5 579.4 11.4 11.5
78 74 Kerr-McGee 692.0 --2.1 35.8 Petroleum 85.0 --30.3 22.9 12.3 886.0 28.4 9.6
79 76 Aluminum Co. of America 691.3 3.0 5.3 Nonferrous metals na na na na na na na
80 82 Laporte 665.5 9.6 100.0 Specialty chemicals 90.3 29.4 100.0 13.6 na na na
81 81 Vulcan Materials 607.0 5.3 38.7 Nonmetallic minerals 94.7 7.9 32.4 15.6 441.1 33.4 21.5
82 79 Rexene 587.8 --4.5 100.0 Basic chemicals 63.4 --49.3 100.0 10.8 597.5 100.0 10.6
83 83 Ferro 574.7 6.3 42.4 Specialty materials 36.8 34.3 33.4 6.4 312.0 35.8 11.8
84 78 GenCorpd 573.0 --2.9 37.8 Rubber products 72.0 24.1 54.1 12.6 253.0 19.0 28.5
85 85 Hüls America 550.0 4.4 100.0 Specialty chemicals na na na na na na na
86 84 Stepan 536.6 1.6 100.0 Specialty chemicals 40.4 23.9 100.0 7.5 381.0 100.0 10.6
87 88 General Chemical 534.4 11.1 85.7 Basic chemicals 123.7 17.6 95.7 23.1 424.9 87.6 29.1
88 86 Unocal 530.0 4.1 9.9 Petroleum 152.0 34.5 20.1 28.7 302.0 4.1 50.3
89 87 Sun Co. 466.0 --3.7 4.1 Petroleum 40.0 --41.2 285.7 8.6 na na na
90 -- Bush Boake Allen 449.4 5.8 100.0 Specialty chemicals 46.5 --7.4 100.0 10.3 407.8 100.0 11.4
91 91 Mississippi Chemicalf 428.8 10.5 100.0 Agrochemicals 84.8 4.8 100.0 19.8 341.0 100.0 24.9
92 90 Lonza Inc. 400.5 6.0 100.0 Specialty chemicals na na na na na na na
93 93 Terra Nitrogen 362.7 --2.8 100.0 Agrochemicals 172.6 1.8 100.0 47.6 306.7 100.0 56.3
94 95 Cambrex Corp. 359.4 0.6 100.0 Specialty chemicals 46.3 4.0 100.0 12.9 404.4 100.0 11.4
95 94 Georgia-Pacific 356.0 --4.3 2.7 Wood products na na na na na na na
96 96 Petrolitek 342.1 0.9 94.8 Specialty chemicals 20.4 29.1 95.3 6.0 214.9 71.2 9.5
97 80 Mallinckrodtf 332.0 31.9 15.0 Diversified 27.9 35.4 8.5 8.4 339.3 10.0 8.2
98 98 Asarco 319.0 3.4 11.8 Nonferrous metals 19.0 0.0 6.3 6.0 272.0 6.6 7.0
99 -- McWhorter Technologiesk 315.9 1.4 100.0 Specialty chemicals 24.9 19.1 100.0 7.9 153.3 100.0 16.2
100 100 Kemira 293.3 --7.8 100.0 Basic chemicals na na nana na na na

a Operating profit is sales less administrative expenses and cost of sales. b Chemical operating profit as a percentage of sales. c Chemical operating profit as a percentage of indentifiable chemical assets. d Chemical sales include significant amounts of nonchemical products. e Fiscal year ended Sept. 30. f Fiscal year ended June 30. g Chemical sales only. h Fiscal year ended Aug. 31. i Fiscal year ended Nov. 30. j Fiscal year ended March 30. k Fiscal year ended Oct. 31. na = not available.