The break-up of Hanson plc into four publicly held companies is not expected to have a large impact on the operations of Cincinnati-based polyethylene producer Quantum Chemical Co. Hanson plc, a sprawling conglomerate based in London, announced Jan. 30 it would break itself into four public companies - chemicals, tobacco, energy, and building materials and equipment supply - that will be listed on stock exchanges in London and New York.
Quantum will become a unit of a $3.1 billion public company focused on chemicals, according to William M. Landuyt.
Landuyt will be chairman and chief executive officer of the chemicals company. It will be based in Iselin, N.J. Robert E. Lee will be president and chief operating officer. Hanson officials have yet to choose a name for the firm.
On a pro forma basis, the chemicals company reported operating profit of about $905 million in 1995.
The firm will have 6,800 employees.
Within the chemicals company, Quantum will be the largest of four operating units.
Of the 6,800 total employees, Quantum employs 4,000, Lan-duyt said in a telephone interview Feb. 1. He added that Quantum is not expecting to go through a difficult transition with the change.
The other three businesses that will be included in the chemicals company are:
SCM Chemicals Inc., a Baltimore-based producer of titanium dioxide.
SCM Glidco Organics Inc., a flavors and fragrances maker based in Jacksonville, Fla.
Suburban Propane of Whippany, N.J., a retail home heating supply company in which Hanson plc holds a 35 percent interest.
``Under Hanson, these companies always have operated autonomously, and they will continue to do so. We have operated lean and mean, so we are not expecting to have any layoffs with these changes,'' Landuyt said.
Quantum is one of the largest of Hanson plc's 16 operating units and provided the London-based parent with more profit than any other business unit in 1995.
In 1994, Quantum was the leading U.S. profit center for Hanson.
Hanson acquired Quantum - the largest producer of PE in North America - in 1993 in a $3.3 billion purchase.
The break-up is expected to be completed for Hanson plc's chemicals and tobacco businesses by the end of September, the company said in a prepared statement.
The firm did not say when it expects to complete the establishment of its energy and building materials and equipment companies.