Engelhard
The Engelhard Corporation was an international Fortune 500 company headquartered in Iselin, New Jersey. It provided significant contributions to the development of the vehicle catalyst. In the last full fiscal year 2005, Engelhard posted sales of $ 4.5 billion with approximately 7,100 employees worldwide
On January 3, 2006, BASF announced a cash offer to acquire all of Engelhard shares from the price of $ 37 per share, or a total of $ 4.9 billion, after earlier negotiations with the company management had failed. On 1 May 2006, that offer was at $ 38 and on 22 May 2006 at $ 39 per share ($ 5.1 billion total ) increased. On May 30, an agreement was reached with the management of Engelhard and BASF on June 6, won the majority of shares. On June 12 they announced the successful end of the acquisition.
On August 1, was launched with the global rebranding of the Engelhard Corporation in BASF Catalysts LLC, a 100% subsidiary of BASF Aktiengesellschaft, a process of rebranding. These activities have been completed by March 2007. Simultaneously the company began plans for a restructuring and eventually given to the reduction of approximately 800 jobs, mainly in the U.S., is known.
History
The company was founded by the acquisition of Charles F. Croselmire Company in Newark, New Jersey in 1902 by Charles Engelhard. He then founded the American Platinum Works and acquired other companies in 1903. In 1904 he bought the Baker & Co., a company in the Merger and refining of platinum, which was also located in Newark. In 1905 he founded the Hanovia Chemical and Manufacturing Company in Newark. As of 1950, the company of the son and heir of the founder, Charles W. Engelhard, Jr. was conducted.
Engelhard became the largest global refiner and processor of metals of the platinum group and precious metals, a producer of silver and silver alloys and operator of the largest melting furnace for precious metals. The company also developed the application of liquid gold for decorative applications.
Swell
- Former chemical company
- Former company (United States)
- Company (New Jersey)
- BASF
- Middlesex County (New Jersey)