Word: mathieson
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This week Mathieson Chemical Corp. announced that its new plant at Lake Charles, La. for the production of hydrazine in tonnage lots has been completed. The price, which was $50 a Ib. a few years ago, will be $2.50 a Ib., and Mathieson hopes to cut it eventually to 50? a Ib. At this price, chemists believe, magic hydrazine will find thousands of important uses...
...sales ($440 million) and a 12% increase in profits ($53.9 million) over 1952's first quarter. While the second biggest company, Union Carbide & Carbon, was not far behind (sales up 12% and profits up 10%), some of the biggest gains were rung up by the smaller companies. Thus Mathieson Chemical's $4,700,000 net was a 79% increase, Rohm & Haas's $1,700,000 a 28% increase...
...Easing demand in the chemical industry had also shaved many earnings. Union Carbide's net was down 20% to $23 million, and DuPont's firsthalf sales were off along with its net ($2.12 per share v. $2.20 in 1951). On the other hand, fast-expanding Mathieson (TIME, July 21) racked up a 9% profit gain to $2,900,000, and drugmaker Parke, Davis, which has been able to turn a profit for 75 consecutive years, reported record first-half sales of $71 million (up 3%) and record earnings of $10 million...
Triple Play. Now Mathieson supplies raw materials for synthetic fibers and for auto antifreeze. Mathieson is also one of the top dry-ice producers and a leader among U.S. fertilizer makers. Its latest product is hydrazine, a secret ingredient of rocket fuels...
...Mathieson's assets have about tripled (including half ownership of Baltimore's only skyscraper, the Mathieson Building) to $192 million since Nichols took over. Last year it was one of the few big corporations to show a profit gain (7%) despite a 65% jump in taxes. Squibb's was another. On slightly larger sales than Mathieson, it earned $9,700,000, up 20% from 1950. Tom Nichols thinks that with such products as Squibb's new TB drug (TIME, March 3), he can pull up Squibb's profits still further...