Engelhard Corporation

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The Engelhard Corporation was an international Fortune 500 -Unternehmen based in Iselin , New Jersey . It made significant contributions to the development of the vehicle catalytic converter . In the last full financial year 2005, Engelhard achieved sales of $ 4.5 billion with around 7,100 employees worldwide  .

history

The company was founded in 1902 by Charles Engelhard through the acquisition of the Charles F. Croselmire Company in Newark , New Jersey . He then founded the American Platinum Works and acquired other companies in 1903. In 1904 he bought Baker & Co., a platinum smelting and refining company that was also located in Newark. In 1905 he founded the Hanovia Chemical and Manufacturing Company in Newark. From 1950 the company by the son and heir of the founder, was Charles W. Engelhard, Jr. passed.

Engelhard became the world's largest refiner and processor of platinum 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.

At the beginning of 2006, BASF began to submit a cash offer to take over all Engelhard shares after negotiations with company management had failed. Ultimately, an offer of $ 39 per share ($ 5.1 billion total) was made on May 22, 2006. On May 30, an agreement was reached with Engelhard's management. On June 12, 2006, she announced the successful end of the takeover.

On August 1st, Engelhard Corporation was renamed BASF Catalysts LLC , a wholly-owned subsidiary of BASF Aktiengesellschaft, a process of brand conversion . These activities were completed by March 2007. At the same time, planning for a restructuring was started and finally the reduction of approx. 800 jobs, especially in the USA, was announced.

Individual evidence

  1. ^ History of Engelhard Corporation. In: fundinguniverse.com. Retrieved July 11, 2017 .
  2. ↑ BASF intends to offer a cash offer to acquire Engelhard. In: presseportal.de. BASF, January 3, 2006, accessed July 11, 2017 .
  3. ↑ BASF increases cash offer to Engelhard shareholders to $ 39 per share. In: pressrelations.de. BASF, May 22, 2006, accessed July 11, 2017 .
  4. ^ BASF and Engelhard come to an agreement. In: eurip.com. BASF, May 30, 2006, accessed July 11, 2017 .
  5. ↑ Press release BASF from June 12, 2006 Page no longer available , search in web archives: (full text)  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2Template: Toter Link / finanzkat.h2002789.stratoserver.net@1@ 2Template: Toter Link / finanzkat.h2002789.stratoserver.net  
  6. ↑ BASF on course for growth with full integration of Engelhard. In: pressrelations.de. BASF, November 2, 2006, accessed July 11, 2017 .