Abstract
International Specialty Products (ISP) is confronting a drop in sales and earnings head on. Last month, the publicly owned chemicals division of GAF began a program, outlined by its chairman, Samuel J. Heyman, to reduce operating costs by $25 million. The company's president and chief operating officer, Thomas C. Bohrer, 54, is planning a greater emphasis on new specialty product introductions to crank up sales. In addition, Bohrer says he hopes to expand ISP's markets into the Far East, and he sees China, in particular, as an unexploited arena for the specialty products the company supplies to the hair care and cosmetic markets. But by all accounts, Bohrer, a chemical engineer and 29-year veteran of Hoechst Celanese—where he was advanced materials group president—who joined ISP just two years ago, will have a tough time turning the company around. He has seen a European recession and a strong dollar sideswipe sales and earnings growth. He ...
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