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08:35GMT 09Oct2008-K+S higher after Monsanto boosts 2012 outlook

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Shares in K+S AG rise 10.5 percent, taking a top spot among gainers on Germany's DAX index, as the fertilizer and industrial salts company benefits after sector peer Monsanto Co released solid quarterly figures and significantly boosted its 2012 outlook.

"The solid quarterly numbers, but especially the raised outlook is helping K+S," says analyst Heinz Mueller from DZ Bank.

"Monsanto said it sees fundamental strong demand in the agricultural sector. This is good news for fertilizer producers such as K+S," Mueller adds.

Monsanto raised its gross profit target for 2012 to between $9.5 billion and $9.75 billion, up from about $8 billion.

It said optimism was boosted by internal surveys that found tight credit markets should not weaken the company's ability to sell seeds and herbicides to farmers.

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The Karlsruhe City Council Utilities Department is using aramid fibre materials for its protective clothing. DuPont asked Heinz Feuchter, Work Safety Department, Karlsruhe City Council Utilities Department to share his experiences of using these fibres:

Q: When and why did you start using aramid fibre materials? A: "20 years ago, SWK replaced the electricians' regular cotton workwear with garments made of Nomex . We wanted to protect our staff from burns by using flame- and heat-resistant aramid fibre materials. Employees are increasingly open to wearing this type of garment, and since garments made of Nomex have been worn, the number of physical accidents has been reduced. Since its introduction 20 years ago, we have enhanced the performance and comfort of the workwear each time we have re-tendered. Our experience shows us that the initial higher outlay is soon recouped because the garments are long-lasting. From the outset, we had eliminated chemically treated fabrics, because at some point their protective capacity diminishes, and it's difficult to tell how long it lasts. Our employees appreciate top-level protection."

Dr Karl Roth, Technical Manager at the Karlsruhe City Council Utilities Department, makes the importance of maintaining this high-level protection for the new garment model quite clear: "Ensuring we supply our users, whilst taking a responsible attitude towards our staff, is the SWK ethos."

Q: What tests did you carry out as part of the procurement procedure?

A: "For us, it was a matter of guaranteeing the best possible protection while ensuring wearer comfort so we planned a series of 3-step tests to check how effective and comfortable the suits were. The first phase, in the summer of 2006, consisted of a 3-month user test, in which garments were tested in real-life working conditions by electricians, plumbers and gas fitters. The employees deemed the garments to be comfortable. Next, in order to assess the material's quality and easy-care properties, the garments were washed every three days. Handling during washing went smoothly, without a hitch as the suits proved colourfast, and showed no signs of wear and tear. Finally, the equipment was subjected to DuPont's in-house functional tests, rounded off with our own performance tests on material samples."

Q: What did the functional tests consist of? A: "In order to make a valid assessment of the protective functions, the suits were subjected to a series of tests in the DuPont test laboratories in Geneva. In these tests, the DuPont Thermo-Man mannequin was exposed to flames for four seconds and suffered only 13% second and third-degree burns (discounting the head, which was not protected). For an employee aged 30 to 39 this translates into a 100%[1] chance of survival rate. The test for protection against parasite electric arcs conducted on Arc-Man also yielded satisfactory rates. Furthermore, I myself conducted two tests on Nomex material weighing 300 g/sq. m, focussing on the practical constraints of day-to-day work. For the first test, we stretched the material vertically and put it in direct contact with sparks from steelwork being carried out nearby. No sparks punctured the material, which remained intact. For the second test, we stretched the material horizontally, and carried out welding work nearby using an electric workstation. The material was slightly discoloured, but intact."

Q: For your new PPE, you have chosen a Nomex material weighing 300 g/sq. m, which is heavier than your previous suits. Could you explain why?

A: "The multi-task operators are working in a new setup. They work as gas conduit fitters and as electricians too. In addition to protecting them against parasite electric arcs and resisting flames and heat, PPE must also provide effective protection during minor welding tasks. Nomex Comfort material with a surface density of 265 g/sq. m ensures effective protection against parasite electric arcs, but not against sparks, nor liquid metal splashes that can occur during welding work. So we decided after consultation with DuPont and our supplier, Gross & Bukschat, to opt for a surface density of 300g/sq. m. Thanks to the weaving mill IBENA, the project was seen produced and testing and fitting sessions proved we had made the right decision.

Q: Can the staff bear wearing protective equipment with a heavier surface density? A: "Electricians and welders feel uncomfortable in PPE with a surface density over 330 g/sq. m and when employees feel equipment is too heavy, they clearly don't use it properly, if at all. Given our hands-on experience, we set the comfort threshold at around 300 g/sq. m. and this is why we eliminated everything except high-performance materials in aramid fibres such as Nomex , which offers adequate protection at a relatively low weight."

Q: How do you ensure the quality of the protective clothing you use? A: "Protective equipment can only be as effective as the component with the lowest performance level. This is why Karlsruhe City Council Utilities Department Procurement leaves nothing to chance. Every last detail of our protective suit model was recorded and discussed with our supplier Gross & Bukschat. Therefore we could be sure the materials had been treated according to our specifications, that heat and flame resistant Nomex yarn was used for the seams, and that the applications used were also flame-resistant. SWK had learned lessons from an accident in 2005 involving an electric arc (from a 1 kV control box), which hit an employee. Thanks to his protective Nomex suit, he escaped with just a few red marks. Analysing the accident, we observed that the Nomex material had resisted the electric arc, but the trouser seams had not. Instead of a Nomex yarn, a simple polyester/cotton yarn had been used for the seam and this had melted in the heat. Paying attention to detail during prototype development means this kind of defect has now been eliminated."

Q: In your experience, how do you go about imposing top-quality protective equipment in companies?

A: "Even if management is ultimately responsible for equipment procurement decisions, the Work Safety Department has technical responsibility. Clear and precise arguments and reasoning are crucial to the introduction of specific protective clothing. Direct communication with management and the Works council is also vital to define the important factors and specifications, to avoid unpleasant surprises for the Work Safety Department, such as taking delivery of different clothing to that recommended for financial reasons. By taking the right measures to avoid work-related accidents or reduce the consequences to a minimum, we are serving the entity and all staff."

An accident involving an electric arc occurred in 2005 on this 1 kV control box at the Karlsruhe City Council Utilities Department. An arc from the box hit an employee. He escaped with just a few red marks thanks to his protective suit in Nomex . (Photo: Karlsruhe City Council Utilities Department)

Copyright DuPont 2008. All rights reserved. The DuPont Oval, DuPont, The miracles of science, NOMEX and KEVLAR are registered trademarks or trademarks of E. I. du Pont de Nemours and Company or its affiliates.

[1] Chance of survival rates are calculated according to a study by the American Burn Association (1991-1993).

About DuPont

DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.

DuPont, NOMEX , THERMO-MAN and ARC-MAN are registered trademarks or trademarks of E. I. du Pont de Nemours and Company or its affiliates.

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-- Long-term Issuer Default Rating (IDR) 'BBB';

-- Bank facility 'BBB';

-- Senior unsecured debt 'BBB';

-- Short-term IDR 'F2';

-- Commercial paper 'F2'.

H.J. Heinz Finance UK Plc. and H.J. Heinz B.V.

-- Long-term IDR 'BBB';

-- Short-term IDR 'F2';

-- Commercial paper 'F2'.

H.J. Heinz Co. of Canada, Ltd.

-- Short-term IDR 'F2';

-- Commercial paper 'F2';

The Rating Outlook is Stable.

At July 30, 2008, Heinz's total debt was $5.3 billion.

Golden Circle, a publicly listed company in Australia, manufactures food and beverages including canned fruits and vegetables, fruit juices, drinks and jams. The Directors of Golden Circle strongly encourage shareholders to vote in favor of this transaction. Transaction approval requires at least 75% of the votes cast. If approved by Golden Circle shareholders and regulatory authorities, the transaction is expected to close in Dec. 2008.

Heinz's ratings continue to reflect the company's cash flow generating ability, its product and geographic diversification and its leading global market positions. For the latest 12 months ended July 30, 2008, Heinz's total debt-to-operating earnings before interest, taxes, depreciation and amortization (EBITDA) was 2.7 times (x) and its operating EBITDA-to-gross interest expense was 5.5x. Funds from operations (FFO) fixed charge coverage was 4.0x. Credit metrics have remained relatively stable over the past three fiscal years. While debt levels have increased, strong earnings and cash flow allowed for higher dividends and capital expenditures, as well as significant share repurchases. The ratings incorporate the operating and financial strategy outlined in Heinz's High Performance Plan for fiscal years 2009 and 2010. With a low priority for share repurchases in this plan, there was room at the current rating level to accommodate this bolt-on acquisition. This acquisition is not likely to lead to a material change in credit measures.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

SOURCE: Fitch Ratings

Fitch Ratings 
Judi M. Rossetti, CFA, CPA, +1-312-368-2077 (Chicago) 
Carla Norfleet Taylor, CFA, +1-312-368-3195 (Chicago) 
Wesley E. Moultrie II, CPA, +1-312-368-3186 (Chicago) 
Cindy Stoller, +1-212-908-0526 
(Media Relations, New York)