Elizabeth Guenther
Elizabeth Guenther is a Senior Industrial Engineer at OSRAM Sylvania with responsibility for processes and projects at its Eastern Distribution Center. She is this year’s AIChE Young Professionals Committee (YPC) Chair and YPC liaison to the Career and Education Operating Council.
Prior to joining OSRAM Sylvania, Elizabeth worked in other non-chemical fields as a Lean Manufacturing Engineer at Mack Trucks, Inc and an Operations Engineer at Lutron Electronics Co., Inc. Prior to holding the position of Chair in YPC, Elizabeth held the positions of Vice Chair and Publications Subcommittee Chair. She has also written several articles in ChEnected. Elizabeth’s Young Professional Point of View article, “What is a Chemical Engineer Doing Here?” published in the September 2013 edition of CEP, explored how Chemical Engineers fit right in to atypical industries.
Elizabeth holds a Bachelors of Science degree in Chemical Engineering from the University of Virginia and a Masters of Business Administration degree in Supply Chain Management from Lehigh University. She is an active member of her local AIChE section, the American Association of University Women and is a past Chair of the Lehigh Valley Engineering Council.
Elizabeth lives in the Lehigh Valley area of Pennsylvania with her husband. When not working, Elizabeth enjoys swimming competitively, doing craft projects and baking. Elizabeth can be reached at elizabeth.guenther@sylvania.com
The Chemical industry is more than just research and product development--it's also about business; and unless you have been living under a rock for the past year, you have heard at least something about the conflict between Airgas and Air Products and Chemicals, Inc (APCI). These companies are two of the biggest players in the industrial gases market, and for the past year Air Products and Chemicals has been attempting to purchase Airgas, beginning with a purchase offer made in early February of 2010.
Over the past year the Battle for Airgas has waged on through increasing purchase price offers, Board of Directors upheaval, shareholder dissent, poison pill tactics, legal conflicts, and the repeated rejection of ACPI's offers. On December 9, 2010, Air Products submitted their best and final offer at $70 per share (a 61% premium on the fair market value of Airgas stock prior to ACPI's initial offer).
On December 22, 2010 the offer was rejected. It looks like Airgas will remain sovereign... or will it? There is still a case in the Delaware court that will be decided early in 2011, the result of which could change both the outcome and the precedent.
What is in question in this case is the use of the Poison Pill (also known as a Shareholder Rights Plan) by Airgas, a tactic that makes it impossible for the buying company to ever succeed. In the past, Delaware courts have upheld such plans, so it should be interesting to see how the judge rules--and what will occur as a result of the ruling.
A great resource for tracking the Air Products - Airgas story as it unfolds is the New York Times DealBook and The Deal Professor.
Additionally, each Company has webspace dedicated to documenting this ongoing saga. To get both sides of the story, please see the websites below:
Air Products website for the Airgas Offer
Airgas website for Air Products Unsolicited Offer
What's your take on the next chapter in the Airgas Saga?
Photo: Eric Wuestenhagen
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