Chemicals group Albright and Wilson has called a review of its
financial PR which is currently handled by Shandwick Consultants.
Based in the West Midlands, Albright makes chemicals used in a variety
of household goods from Coca-Cola to toothpaste. One third of its
business is in cleaning agents such as detergents.
Shandwick would not comment on the review but an Albright spokeswoman
confirmed that financial director Ken Lever is considering other
agencies.
The company has performed well since the appointment of chief executive
Paul Rochelau last March. Rochelau pledged to improve Albright’s
standing in the City following falling share prices and reports of
investor impatience over lack of expansion.
Rochelau has since embarked on a restructuring programme, focusing upon
acquisitions and consolidation in key markets. Albright announced
earlier this month that it was buying a pounds 10 million plant in
Chicago from rival Witco, It also bought a further 25 per cent in a
Mexican joint venture called A&W Troy and has increased capacity at its
plant in Melbourne, Australia.
Albright made pre-tax profits of pounds 62.5 million in 1996 after
making its stock market debut in 1995. Areas of strength include the US
and South America and Asia but in Europe it has suffered due to the
strength of sterling.
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