December 31, 1986 |
Hercules Inc. has encountered immediate complications in its effort to play white knight for AccuRay Corp. of Columbus, Ohio. Combustion Engineering Inc. yesterday increased its offer for AccuRay to $45 a share from $35, only one day after Hercules agreed to acquire the company for $40 a share. Two weeks ago, Combustion Engineering presented AccuRay with the unsolicited $35-a-share offer. AccuRay asked its investment bankers to seek better offers, a search that resulted Monday in a merger agreement with Hercules.
April 16, 1988 |
Hercules Inc., the Wilmington maker of specialty chemicals and aerospace products, reported sharply lower net income for the first quarter. The comparison was affected, however, by a large one-time gain during the 1987 period. Hercules reported a nonrecurring gain of $90.5 million from a public offering last year of stock in a joint-venture company, Himont Inc. Hercules said that net income from continuing operations decreased 4 percent for the first quarter. David S. Hollingsworth, chairman and chief executive officer, said the current earnings represented an important achievement for the company.
July 3, 1990 |
David S. Hollingsworth, chairman of Hercules Inc., said yesterday that he would retire next year after more than four decades with the chemical company. Hercules lost money last year for the first time in its 78-year history, after predicting a performance breakthrough. Profits of $33.7 million in the first quarter of this year were 25 percent below first-quarter profits of $44.8 million in 1989. Hollingsworth, 62, who took over as chairman and chief executive officer of the Wilmington company in 1987, said that in 1986, when he agreed to take the job, he did so with the understanding that he would retire before he was 65 and would hold the job no more than four years.
February 21, 2010 |
First of two parts. He was one of the first great chefs of Philadelphia - in fact, of the young nation. The chief cook in President George Washington's home here in 1790 had only one name: Hercules. In the mansion's open-hearth kitchen, where elaborate banquets were prepared, where spitted meats sizzled and "fricaseys" simmered in cast-iron pans over hickory fires, underlings scurried to execute the orders of Hercules, "the great master-spirit," according to one account, who seemed to be everywhere at once.
October 27, 1989 |
Hercules Inc. of Wilmington will sell its Electronics & Printing Products division, which has annual sales of about $80 million, officials said yesterday. The decision comes during a major restructuring at Hercules. Since earlier this year, the company has been focusing its efforts on its core businesses - chemicals, food ingredients and space propulsion. The Electronic & Printing Products business, with about 500 employees in Wilmington and Middletown, Del., is not part of those operations.
February 4, 1993 |
Hercules Inc., the Wilmington chemical and aerospace firm, yesterday reported double-digit increases in its fourth-quarter and year-end earnings, some of it because of unusual gains and charges. Sales for the fourth quarter and the year were down slightly, principally the result of excluding the sales of the flavors business, which was transferred to a joint venture in the first quarter. "The performance in the fourth quarter of 1992 was a fine accomplishment for our company," said Thomas L. Gossage, chairman, president and chief executive.
October 21, 1989 |
Although Hercules Inc. yesterday reported higher profits for the third quarter, the company's top executive said he was disappointed in results from a number of units and companies in which Hercules owns substantial stakes. Among the trouble spots cited by David Hollingsworth, chairman and chief executive officer of the Wilmington chemical and aerospace company, were the resins group, because of difficulties in starting up a plant in Brunswick, Ga.; aerospace, because of development costs associated with several missile contracts, and engineered polymers, because of the loss of an important piece of business to competition.
April 18, 1986 |
Hercules Inc., the chemical and aerospace firm based in Wilmington, yesterday reported that its first-quarter earnings rose sharply on a modest increase in sales. For the period, Hercules earned $45.4 million or 81 cents per share, up 27 percent from $35.8 million or 65 cents per share in the comparable period a year ago. Sales were up just 1 percent to $645.2 million from $638.4 million last year. During 1985, however, Hercules sold several businesses with sales of about $50 million.
October 28, 2000 |
Ten days into his second stint as chief executive officer of Hercules Inc., Thomas L. Gossage went back to Wall Street yesterday and left no doubt that the Wilmington specialty-chemical maker's days as an independent company are numbered. "There will be a point . . . sooner or later that Hercules will have to be part of a bigger company," Gossage said in a meeting with analysts, emphasizing that by Thanksgiving the company's strategic direction should be clear. In a release, the company also said it had hired Goldman, Sachs Group Inc. to explore its options, including the sale of the company.
February 8, 1992 |
Although the sale of some of its assets contributed to improved profits for the fourth quarter, Hercules Inc. yesterday reported a decline in sales for the quarter and all of 1991. In addition, while the quarterly net income of $34 million seems substantially higher than Hercules' 1990 fourth-quarter profit of $2.6 million, the difference is rooted in nonrecurring charges of $21.9 million Hercules took in the 1990 period. Also yesterday, Hercules said it had filed suit against Martin Marietta Corp.