Engelhard

Engelhard was an American industrial company whose history connected precious-metals refining, specialty chemicals, mineral processing, pigments, and emissions-control technology. It was founded in 1902 when Charles W. Engelhard Sr. purchased the Charles F. Croselmire Company in Newark, New Jersey. He subsequently established the American Platinum Works in 1903, acquired Baker & Co. in 1904, and founded Hanovia Chemical and Manufacturing Company in 1905. These early businesses created the foundation for an industrial group active in platinum, gold, silver, alloys, refining, fabrication, and chemical manufacturing. During the first half of the twentieth century, Engelhard became one of the world’s largest refiners and fabricators of platinum, gold, and silver. Its activities included precious-metals smelting, production of silver and silver alloys in mill forms, and the development of liquid gold for decorative uses. The company later broadened its scope into mineral-based materials and specialty chemicals, giving it businesses serving industrial manufacturing, petroleum processing, automotive emissions control, coatings, and personal care. In 1958, Charles W. Engelhard Jr. consolidated the family’s holdings as Engelhard Industries, Inc., which became a publicly traded company. A strategic investment in Minerals & Chemicals Philipp during the early 1960s led to a much larger combination in 1967. The resulting Engelhard Minerals & Chemicals Corporation combined nonmetallic minerals, precious-metals processing, and Philipp Brothers’ international commodity-trading operations. Philipp Brothers generated an increasing share of group sales and profits as global commodity trading expanded. The imbalance eventually led to the 1981 spin-off of Philipp Brothers, later known as Phibro, after which the remaining company adopted the Engelhard Corporation name. Engelhard’s later strategy emphasized specialty materials rather than commodity trading. Its businesses were organized around minerals and chemicals and, later, specialty chemicals and specialty metals. The company expanded through acquisitions and joint ventures, adding businesses in kaolin, petroleum and automotive catalysts, pigments, specialty minerals, fats and oils catalysts, and personal-care ingredients. Its catalyst operations became especially important. Engelhard is credited with developing the first production catalytic converter, and its technologies helped vehicle manufacturers reduce hydrocarbons, carbon monoxide, and nitrogen-oxide emissions. The company also developed Firemist, a premium automotive paint technology created in the early 1960s for General Motors. Firemist used specially engineered glass-based particles to produce vivid color, high brightness, transparency, and reflectivity. Although commonly described as metallic, the finish did not rely on conventional aluminum or other metal particles. The technology was subsequently used in other decorative applications, including finishes associated with Fender musical instruments. Engelhard continued operating as an international specialty-chemicals and materials group until BASF agreed to acquire it in 2006. BASF paid $39 per share in a transaction valued at approximately $5 billion. The acquisition was completed on May 30, 2006, and BASF began replacing the Engelhard name in operations from August 2006, initially using BASF Catalysts LLC in the United States. By April 2010, BASF Catalysts LLC had become part of BASF Corporation. Engelhard therefore ceased to exist as an independent operating company, although its technologies, facilities, product lines, and technical capabilities were incorporated into BASF’s catalyst and related businesses.

Engelhard began in Newark, New Jersey, in 1902, when Charles W. Engelhard Sr. purchased the Charles F. Croselmire Company. The acquisition was financed with proceeds from his wife’s dowry. Engelhard expanded rapidly during the next few years, establishing the American Platinum Works in 1903, purchasing Baker & Co., a platinum smelter and refiner, in 1904, and founding Hanovia Chemical and Manufacturing Company in 1905. The early group specialized in precious metals. It refined and fabricated platinum, gold, and silver, produced silver and silver alloys in mill forms, operated a major precious-metals smelter, and developed liquid gold for decorative applications. Over time, Engelhard added mineral processing and specialty-chemical activities, creating a diversified industrial group rather than a narrowly focused metals refiner. In 1958, Charles W. Engelhard Jr. reorganized the family’s holdings into Engelhard Industries, Inc., a public company listed on the New York Stock Exchange. During the early 1960s, Engelhard acquired a 20 percent interest in Minerals & Chemicals Philipp through a stock transaction. Minerals & Chemicals Philipp combined a nonmetallic-minerals producer with Philipp Brothers, an international ore-trading business. The trading operation grew quickly, and in 1967 the businesses were merged into Engelhard Minerals & Chemicals Corporation. The new company contained three principal divisions: minerals and chemicals, precious-metals processing, and Philipp Brothers’ commodity-trading activities. Commodity trading subsequently dominated the group’s financial performance. By the early 1980s, Philipp Brothers generated the overwhelming majority of corporate revenue and profit, while the minerals, chemicals, and precious-metals units grew more slowly. Engelhard separated Philipp Brothers in 1981. Philipp Brothers later became known as Phibro, while the remaining company returned to the Engelhard Corporation name. The post-spin-off Engelhard concentrated on specialty chemicals and specialty metals. Its operations were later organized into Specialty Chemicals and Specialty Metals divisions. The company expanded through acquisitions, including the Freeport Kaolin Company in 1985, much of the Harshaw/Filtrol Partnership’s business in 1988, Solvay Catalysts’ automotive-catalyst business in 1992, Solvay’s petroleum-catalyst business in 1994, Mearl Corporation in 1996, Mallinckrodt’s catalyst business in 1998, Süd-Chemie’s fats-and-oils catalyst business in 2001, and the Collaborative Group’s personal-care business in 2004. In 1994, it also formed Engelhard CLAL with French precious-metals company Le Comptoir Lyon-Alemand-Louyot to serve European industrial precious-metals customers. Catalyst technology became one of Engelhard’s most consequential areas. The company is credited with developing the first production catalytic converter, helping automobile manufacturers address increasingly strict emissions standards. Its technologies were used to reduce pollutants including hydrocarbons, carbon monoxide, and nitrogen oxides. Engelhard also worked in automotive coatings and introduced Firemist finishes for General Motors during the 1960s. These finishes used engineered glass particles to create high chroma, brightness, transparency, and reflectivity, and later found uses beyond automobiles. Engelhard’s environmental record was mixed in the broader industrial sense. Its catalytic technologies contributed to substantial reductions in vehicle pollution, and its Rightfit organic pigments received a 2004 U.S. EPA Presidential Green Chemistry Challenge Award. At the same time, an academic assessment based on U.S. Toxics Release Inventory data ranked Engelhard among major corporate air-pollution producers and identified reported releases involving compounds of cobalt, nickel, chromium, and manganese. The available reference material describes this as an environmental record rather than a specific scandal or legal finding. BASF agreed to acquire Engelhard in 2006 and completed the transaction on May 30 of that year. BASF paid $39 per share, placing the transaction value at approximately $5 billion. Beginning in August 2006, BASF started replacing the Engelhard name in its operations, initially with BASF Catalysts LLC in the United States. In April 2010, that entity became part of BASF Corporation. Engelhard is consequently a defunct independent corporate brand whose industrial technologies and businesses were absorbed into BASF.

• 2010

  BASF Catalysts LLC integrated into BASF Corporation

  [1]Engelharden.wikipedia.org

  The U.S. successor operation using the BASF Catalysts name became part of BASF Corporation.

• 2006

  Acquired by BASF

  [1]Engelharden.wikipedia.org

  BASF completed its acquisition of Engelhard in a transaction valued at approximately $5 billion.

• 2004

  Green Chemistry Challenge Award

  [1]Engelharden.wikipedia.org

  The company received a U.S. EPA Presidential Green Chemistry Challenge Award for Rightfit organic pigments.

• 1994

  Engelhard CLAL joint venture formed

  [1]Engelharden.wikipedia.org

  Engelhard and Le Comptoir Lyon-Alemand-Louyot formed a venture serving the European industrial precious-metals market.

• 1981

  Philipp Brothers spun off

  [1]Engelharden.wikipedia.org

  The commodity-trading division was separated from Engelhard and later became Phibro.

• 1967

  Creation of Engelhard Minerals & Chemicals Corporation

  [1]Engelharden.wikipedia.org

  Engelhard merged with Minerals & Chemicals Philipp, combining minerals, precious metals, and Philipp Brothers’ commodity-trading activities.

• 1958

  Engelhard Industries becomes publicly held

  [1]Engelharden.wikipedia.org

  Charles W. Engelhard Jr. consolidated the family holdings as Engelhard Industries, Inc., listed on the New York Stock Exchange.

• 1904

  Baker & Co. acquired

  [1]Engelharden.wikipedia.org

  The company acquired a Newark platinum smelting and refining business.

• 1903

  American Platinum Works established

  [1]Engelharden.wikipedia.org

  Engelhard expanded into platinum processing through the creation of American Platinum Works.

• 1902

  Company founded in Newark

  [1]Engelharden.wikipedia.org

  Charles W. Engelhard Sr. purchased the Charles F. Croselmire Company, establishing the business that became Engelhard.

A technology-led industrial materials company combining precious-metals expertise with specialty minerals, pigments, catalysts, and emissions-control solutions. Engelhard positioned itself around engineered materials for automotive, petroleum, coatings, manufacturing, and personal-care applications rather than around consumer retail products.

• Automotive emissions-control technology

  Automotive catalytic converters

  Engelhard developed technology credited as the first production catalytic converter. Its catalyst systems were designed for vehicle exhaust treatment and helped manufacturers meet tightening limits on hydrocarbons, carbon monoxide, and nitrogen oxides. The business later became part of BASF’s catalyst operations.

• Refining catalysts

  Petroleum catalysts

  The company supplied catalyst technologies for petroleum processing and expanded this business through acquisitions, including the petroleum-catalyst activities associated with Solvay Catalysts. These products served industrial refining and chemical-processing applications.

• Precious metals · 1902

  Precious-metals refining and fabrication

  Engelhard’s original and historically important business refined and fabricated platinum, gold, and silver. It also produced silver and silver-alloy mill forms, operated major smelting capacity, and developed liquid gold for decorative applications.

• Automotive coatings and pigments · 1960

  Firemist

  Firemist was a premium finish developed during the 1960s for General Motors. Its engineered calcium, sodium, and borosilicate particles produced vivid color, strong brightness, transparency, and reflectivity. The finish was commonly called metallic despite not relying on conventional metal particles.

• Organic pigments

  Rightfit organic pigments

  Rightfit was an organic-pigment range associated with Engelhard’s safer-chemicals work. The product line was specifically recognized by the U.S. EPA’s 2004 Presidential Green Chemistry Challenge Award.

• Industrial minerals

  Kaolin and specialty minerals

  Minerals became a major part of Engelhard’s postwar diversification. The company processed nonmetallic minerals and expanded through the acquisition of the Freeport Kaolin Company, supplying mineral materials for industrial and formulation uses.

• 2006

  BASF acquisition of EngelhardM&A

  Background

  BASF sought to expand its catalyst and specialty-materials capabilities through the purchase of Engelhard.

  Action taken

  BASF acquired Engelhard at $39 per share. The transaction was completed on May 30, 2006, with an indicated total value of approximately $5 billion.

  Aftermath

  BASF began replacing the Engelhard name in operating units, initially using BASF Catalysts LLC, and subsequently integrated the U.S. catalyst operation into BASF Corporation.

  Acquisition transaction value. $5 billion (2006)

  Source

• 1981

  Spin off Philipp BrothersStrategy

  Background

  Philipp Brothers had become responsible for most of the combined corporation’s revenue and a very large share of its profit, overshadowing the minerals, chemicals, and precious-metals businesses.

  Action taken

  Engelhard separated Philipp Brothers from the group. The trading company later became known as Phibro, while the remaining operations continued as Engelhard Corporation.

  Aftermath

  The transaction refocused Engelhard on specialty chemicals, specialty minerals, precious metals, and catalysts.

  Source

1. 1Engelharden.wikipedia.org