Shuffled assets Sales and earnings results for 40 major chemical producers were very mixed in 1996. The trend toward focusing on and strengthening core businesses continued throughout the year.
Companies shuffled businesses among themselves, selling off and acquiring operations.
For several companies, acquisitions increased sales substantially. Praxair's sales increased about the same amount with its purchase of CBI Industries. On the flip side, sales dropped substantially for several companies that divested businesses. Earnings results were as mixed as sales performance. Only ChemFirst, with a major change in its operations, reported a loss in 1996.