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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jul 04, 1995
Page
7
FMC Corporation expands into semiconductor-grade phosphoric acid at its Lawrence facility. The plant aims for 3 million pounds yearly capacity for a domestic market of 7 to 10 million pounds. Upgrades cost 2 to 4 million dollars. no new staff hired.
The Lawrence FMC plant adds a semiconductor-grade phosphoric acid line amid existing output of 70 to 100 million pounds yearly used in cola production, cheese, fertilizers and cleaners. Semiconductor acid demands ultra low copper and arsenic, requiring lengthy prep and multiple washes per batch. A batch holds 12,000 gallons and production runs take three to four days for three good batches.
Large-cap shares lead the rally with Dow and S&P 500 up about 19 percent while small caps trail. Nasdaq jumps 24 percent as IBM and Intel surge. drug and tech sectors post solid gains. Some funds chase top performers amid window dressing as market strength persists.
Branson, Missouri adds 43 stores to Factory Merchants and plans to expand Tanger Outlet Center and Factory Malls of America. With Branson ranking as a top bus tour draw, outlets boost sales tax receipts despite slight visitor declines. Officials say shopping is a key visitor activity behind theaters and scenery.
Hoechst AG plans to cut about 8000 jobs in its pharmaceuticals division by 1997 end to realize synergies and overlaps from integrating the recently announced Marion Merrell Dow acquisition. Job cuts began January 1, 1993 and to date have occurred solely through attrition, per a company spokesman.
Investors expect a rate cut to bolster slowing U S growth. Most see the two day FOMC meeting starting Wednesday granting Greenspan authority to ease credit, with a likely move in July after further data. Analysts vary on timing and exact path.
The Federal Reserve has eased credit 24 times in prior efforts to spur growth, with the next move expected to be authorized by Chairman Greenspan before the June employment data. Analysts note Treasury yields near 5.7 percent, below the fed funds target, suggesting investors anticipate a rate cut if jobs, retail sales, and inflation data warrant.
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