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Ethyl Corp

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NEWS
August 19, 1986 | Associated Press
A powerful explosion at the Ethyl Corp. gas plant Monday rocked the area around the Houston Ship Channel, setting off a towering fire and injuring three workers, authorities said. Officials were trying to determine the cause of the blast, which was felt 35 miles away.
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NEWS
February 28, 1999 | EVELYN IRITANI, TIMES STAFF WRITER
The global push toward a "borderless economy," already blamed for the turmoil that has impoverished millions from Seoul to Sao Paulo, is increasingly accused of another sin: undermining the sovereignty of governments. Sweeping free-trade initiatives of the 1990s, such as NAFTA and the World Trade Organization, are coming under attack for handing foreign interests the legal firepower to undercut public policy on economic, health, safety and other issues.
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BUSINESS
November 2, 1990 | PATRICK LEE, TIMES STAFF WRITER
Ethyl Corp., a Richmond, Va.--based chemical company, on Thursday temporarily withdrew its application for approval of a gasoline additive designed to reduce emissions, just days before a deadline for the Environmental Protection Agency to act on it. After meeting with EPA officials Wednesday, the company said it needed more time to answer questions raised about HiTEC 3000, a manganese-based additive that the company contends would reduce emissions while boosting octane in unleaded gasoline.
BUSINESS
November 2, 1990 | PATRICK LEE, TIMES STAFF WRITER
Ethyl Corp., a Richmond, Va.--based chemical company, on Thursday temporarily withdrew its application for approval of a gasoline additive designed to reduce emissions, just days before a deadline for the Environmental Protection Agency to act on it. After meeting with EPA officials Wednesday, the company said it needed more time to answer questions raised about HiTEC 3000, a manganese-based additive that the company contends would reduce emissions while boosting octane in unleaded gasoline.
NEWS
February 28, 1999 | EVELYN IRITANI, TIMES STAFF WRITER
The global push toward a "borderless economy," already blamed for the turmoil that has impoverished millions from Seoul to Sao Paulo, is increasingly accused of another sin: undermining the sovereignty of governments. Sweeping free-trade initiatives of the 1990s, such as NAFTA and the World Trade Organization, are coming under attack for handing foreign interests the legal firepower to undercut public policy on economic, health, safety and other issues.
BUSINESS
December 13, 1986 | CARLA LAZZARESCHI, Times Staff Writer
Nelson Research & Development Co., an Irvine drug developer that has yet to cash in on its extensive research, said Friday that it had received an unsolicited $45-million takeover bid from Ethyl Corp., a Richmond, Va., chemical and petroleum products maker. The company also said that founder Eric L. Nelson, who left the helm of the 13-year-old company early this year, already has sold his 14% stake to Ethyl for $5 per share, the same price Ethyl is offering for the remaining 8 million shares.
BUSINESS
December 23, 1986 | JAMES S. GRANELLI, Times Staff Writer
Directors of Nelson Research & Development Co. agreed over the weekend to sell the company for a sweetened $5.75 a share, or nearly $53.1 million, to Ethyl Corp. The proposed merger would make the small Irvine-based drug developer a wholly owned subsidiary of Ethyl, a Richmond, Va., chemical and petroleum products maker. A spokesman for the East Coast firm said Monday that all Nelson Research employees would be retained and that operations would continue in Irvine.
BUSINESS
March 29, 1987
Ethyl Corp. said it completed its previously announced agreement to acquire Irvine-based Nelson Research & Development Co. for $53 million. The merger makes Nelson, a drug developer, a wholly owned subsidiary of Ethyl, a Richmond, Va., chemical and petroleum products maker. A spokesman for the East Coast firm said that all Nelson Research employees would be retained and that operations will continue in Irvine.
BUSINESS
December 16, 1986
The price of Nelson Research & Development Co.'s common stock climbed nearly 33% to $4.375 a share in light trading Monday, the first trading day after the Irvine drug developer revealed that it had received a $45-million takeover offer. "I guess when there's a takeover bid, this is the normal reaction," said Joseph G. Rose, the company's controller. He would not comment further about the $5-a-share bid the company received from Ethyl Corp., a Richmond, Va.
BUSINESS
February 24, 1987 | ROBERT HANLEY
Nelson Research & Development Co. reported a net loss of $2.392 million for 1986, down slightly from a loss of $2.398 million the previous year. Revenue for the Irvine-based pharmaceutical research company fell 13% to $2.6 million from $3 million in 1985. For the fourth quarter, Nelson reported a net loss of $564,451, compared to a loss of $850,659 in the final period of 1985. Revenues for the quarter dropped 20% to $534,487 from $666,480 a year earlier.
BUSINESS
December 23, 1986 | JAMES S. GRANELLI, Times Staff Writer
Directors of Nelson Research & Development Co. agreed over the weekend to sell the company for a sweetened $5.75 a share, or nearly $53.1 million, to Ethyl Corp. The proposed merger would make the small Irvine-based drug developer a wholly owned subsidiary of Ethyl, a Richmond, Va., chemical and petroleum products maker. A spokesman for the East Coast firm said Monday that all Nelson Research employees would be retained and that operations would continue in Irvine.
BUSINESS
December 13, 1986 | CARLA LAZZARESCHI, Times Staff Writer
Nelson Research & Development Co., an Irvine drug developer that has yet to cash in on its extensive research, said Friday that it had received an unsolicited $45-million takeover bid from Ethyl Corp., a Richmond, Va., chemical and petroleum products maker. The company also said that founder Eric L. Nelson, who left the helm of the 13-year-old company early this year, already has sold his 14% stake to Ethyl for $5 per share, the same price Ethyl is offering for the remaining 8 million shares.
NEWS
August 19, 1986 | Associated Press
A powerful explosion at the Ethyl Corp. gas plant Monday rocked the area around the Houston Ship Channel, setting off a towering fire and injuring three workers, authorities said. Officials were trying to determine the cause of the blast, which was felt 35 miles away.
BUSINESS
June 25, 1999 | Evelyn Iritani
Methanex Corp., a Canadian fuel-additive manufacturer, has filed a lawsuit seeking nearly $1 billion in damages against the U.S. government. The suit alleges that a California ban on the use of the gas additive MTBE has violated its investor rights under the North American Free Trade Agreement. The controversial Chapter 11 clause of NAFTA, which the Canadian government is seeking to amend, allows companies to seek compensation from the governments of Canada, Mexico or the U.S.
BUSINESS
October 13, 1987 | Associated Press
Here is the Forbes magazine 1987 list of the 400 richest Americans in descending order of wealth, showing estimated fortune in millions, residence, source of wealth, age and industry. The industry codes are: MF, manufacturing; R, retail; M, media; T, high technology; AG, agriculture; OG, oil and gas; F, financial operations; RE, real estate; EC, engineering and construction; S, services. 1--Walton, Sam Moore, $8,500, Bentonville, Ark.
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