Novozymes Inc solid 1Q 2011 sales, earnings, and cash flow

Novozymes Inc solid 1Q 2011 sales, earnings, and cash flow

FOCUS based catalysts improve alcohol conversion in the production of acrylates and methacrylates, and also help avoid the formation of by-products. C...

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FOCUS based catalysts improve alcohol conversion in the production of acrylates and methacrylates, and also help avoid the formation of by-products. Chemische Rundschau, 11 Apr 2011, (4), 14 (Website: http://www.chemieplus.ch) (in German)

Evonik’s BioTechDay presents that “white biotechnology” has aboveaverage growth prospects Evonik Industries AG’s BioTechDay has shown that white biotechnology has above-average growth prospects. There are constantly new growth opportunities for bio-based products especially in the health, nutrition, and cosmetic markets. Some 200 participants from the group, as well as from business and government, met for this event on 9-10 Mar 2011, in Marl, Germany, in the spirit of “Superior growth through biotechnology.” Evonik itself has special expertise in developing strains, in fermentation, and in processing bioproducts. Evonik is claimed to be well-positioned in those areas that are relevant to industrial biotechnology. As part of a product marketplace, classic biobased products such as amino acids and cosmetic active ingredients were presented, as were Evonik’s new innovative developments that were already on the market. Press release from: Evonik Industries AG, Rellinghauser Strasse 1-11 45128, Essen, Germany. Website: http://www.evonik.com (11 Mar 2011)

HPCL fuelled for R&D foray: to invest Rup 300 crores in Phase I, will focus on refining-related activities Hindustan Petroleum Corp Ltd (HPCL) plans to foray into R&D and set up a R&D centre in Bangalore by 2012-2013 at an investment of Rup 300 crores. Initially, the company will focus on refining-related activities. The R&D centre will focus on the need to sustain refining business particularly in the context of crude oil volatility. HPCL is negotiating with the University of Queensland to explore joint research on several types of catalysts that can be produced out of bagasse. Bagasse can be used as a source to produce ethanol. (1 crore=10 M, 1 lakh=100,000). Business Line, 26 Apr 2011, 18 (115), 3 (Website: http://www.thehindubusinessline.com/)

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LanzaTech and LCY to target bio-based chemicals market Clean energy technology company LanzaTech is partnering with LCY Chemical Corp (LCY), one the world’s leading chemical companies, to identify key bio-based chemicals to produce for global fuels and chemicals markets. LCY, a billion dollar enterprise, is fully integrated and operates in Taiwan, China, Japan, Qatar, and the US. With potential global revenue for bio-based chemicals and plastics forecast at $15 bn by 2020, LanzaTech is fast tracking the commercialisation of its chemical production process so it can integrate in to the distribution chain. LCY is also looking to further developments in bio green products including bio-plastics and bio-fuels. LCY will fund the construction of production plants in exchange for access to LanzaTech’s technology. LanzaTech’s proprietary gas fermentation technology has been proven to produce low cost ethanol from steel mill gases, and that has been extended to other industrial offgases and synthesis gas from gasification. More recently it had been shown the LanzaTech process can produce 2,3-butanediol, an oxygenate which can be used to make hydrocarbon fuels – true drop in-fuels that can replace diesel, jet fuel, and gasoline – and high value chemicals. Press release from: LanzaTech, 24 Balfour Road, Parnell, Auckland, New Zealand. Tel: +64 9 373 4929. Fax: +64 9 929 3038. Website: http://lanzatech.co.nz (5 Apr 2011)

Novozymes Inc solid 1Q 2011 sales, earnings, and cash flow Novozymes Inc announced, following recent movements in the US dollar, that full-year 2011 sales growth in DKR is now expected at 8-11%, down from previously 10-13%, whereas the expectations for sales growth in local currencies are unchanged. Despite the negative development in currencies compared to previous guidance, stronger operational performance allows an unchanged EBIT growth expectation of 8-11% and an EBIT margin now at around 22%. With a maintained EBIT growth expectation, and main currencies hedged, net profit is now expected to grow 10-13%. Novozymes saw good underlying demand across most

industries and all geographies, and the integration of its recent BioAg acquisition is well under way. Last but not least, very recently, construction of the world’s first commercial-scale cellulosic biofuel plant was initiated by a collaboration partner in Italy, expected to be ready in 2012. This sends a strong signal that technology for commercial cellulosic biofuel production is ready for deployment. Enzyme business sales in 1Q 2011 were up by 11% compared to 1Q 2010. Sales of Household Care were up 13% and Food & Beverages Enzymes saw 13% growth as compared to 1Q 2010 and were the strongest growth contributors in the period. Bioenergy Enzymes sales in 1Q 2011 were up by 8% compared 1Q 2010. In Household Care the strong growth was driven by increased use of enzymes to enhance wash performance, enable lowtemperature washing, and replace traditional chemicals in detergent formulations. Sales of Household Care Enzymes to the emerging markets were a particularly strong growth driver in the period. Higher demand, particularly for the speciality food, starch, and alcohol industries, was the main driver. Growth in the starch enzyme business was due to high sugar prices and stronger demand from emerging markets. Acquisitions had a positive impact on sales of about 70 percentage-points in the period. Press release from: Novozymes A/S, Krogshoejve. Website: http://www.novozymes.com (29 Apr 2011)

Sabic and Albemarle move forward with Saudi Arabian catalyst project Sabic and Albemarle have awarded engineering and building contracts for their catalyst jv to the Korean group Samsung Engineering. Saudi Organometallic Chemicals Company will be owned 50:50 by Sabic and Albemarle. It will produce triethylaluminium at Jubail, Saudi Arabia. The organometallic catalysts are used for the production of olefins. Albemarle is already a producer, exporting to the Middle East from plants in Europe, Asia and N America. The Saudi Arabian plant will have a capacity of 6000 tonne/y. It is scheduled to go into service in 3Q 2012. In 2009, Sabic estimated that

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