BFGoodrich Restructures Specialty Chemicals Segment

The BFGoodrich Company has announced a new organizational structure for its specialty chemicals segment, which will be renamed BFGoodrich Performance Materials.

"The performance materials segment has grown rapidly with an emphasis on global expansion," said David L. Burner, BF Goodrich chairman and CEO. "We clearly needed a new structure and name to reflect these exciting developments. The high growth and earnings potential of this segment provides strong value to our shareholders."

BFGoodrich Performance Materials reported record operating income for the full year 1997 and for the first quarter of 1998. The segment will be organized to focus on key global markets and to accelerate the integration of the recently acquired Freedom Chemical businesses, the largest performance materials acquisition in BFGoodrich's history. Last year's acquisitions of C.H. Patrick and an ICI thermoplastic polyurethane plant in England further expanded the company's performance materials business.

BFGoodrich Performance Materials will consist of three groups: Textiles and Industrial Coatings, Consumer Specialties, and Polymer Additives and Specialty Plastics. It will align its geographic focus on the Americas; Europe, Africa and the Middle East; and Asia/Pacific.

Edited by Beth Brindle