Morrison, president and CEO of Borden Chemical, will become president and CEO. Through Borden, the largest of the four entities being merged, Hexion has filed a registration statement with the Securities & Exchange Commission for a proposed initial public offering (IPO) of up to $800 million in common stock in the new compan圜raig O. Apollo says the new company will be the world's largest producer of thermosetting resins and enjoy a number one or two share in its major market categories. Apollo later plans to fold in Bakelite, a German resins maker that Borden previously agreed to acquire. Hexion will combine Borden Chemical, Resolution Performance Products, and Resolution Specialty Materials. THE PRIVATE INVESTMENT firm Apollo Management is combining four of its acquisitions to create Hexion Specialty Chemicals, which will have annual sales of more than $4 billion and will be, Apollo says, the third largest U.S.-based specialty chemical company after Rohm and Haas and Engelhard. In conditions of high turbulence in the market environment, the continuous development of CM processes becomes even more important. The authors also find that continuous efforts to develop the CM processes have positive influence on profitable growth – as does sales personnel’s and market-analysis personnel’s participation in the process development. In contrast, the direct effect of process documentation on profitable growth is found to be non-existent – suggesting that if the documented CM processes do not truly facilitate the daily work of customer-facing personnel, the process documentation may be counterproductive. customer acquisition and retention processes of a set of firms, the authors find that explicit process documentation contributes to profitable growth, in as much as it facilitates the daily work of the customer-facing personnel (especially sales and marketing people). Testing their hypotheses with survey data concerning the. The examination is based on management/organization theory on process management, as applied to CM processes. This article examines how the systematic documentation and continuous development of customer management (CM) processes to be utilized by a firm’s customer-facing personnel, contribute to the firm’s profitable (sales) growth. All four, however, reported strong improvements in operating profits. Net earnings declined from first-quarter 2005 levels for four companies: Akzo Nobel, Bayer, Ciba Specialty Chemicals, and Solvay. As BASF Chairman Jürgen Hambrecht noted at his company's annual meeting, "Our business has developed very positively since the beginning of 2006, and the level of orders remains extremely robust." Similarly, at Bayer, Germany's other giant, Chairman Werner Wenning observed that the company had a record-breaking first quarter in 2006, with operating profits reaching an all-time high. Kemira's sales increase reflects the April 2005 acquisition of Finnish Chemicals, and BASF's growth is being driven by higher sales volumes and price increases in both its chemical operations and its oil and gas segment. A CROSS THE BOARD, EUROPEAN chemical companies are reporting higher first-quarter sales than last year, paced by Kemira, with a 37% increase in sales, and BASF, with a 24% gain.
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