Philipp's trading continued to enjoy phenomenal growth as the world turned to spot traders to move scarce natural resources around the globe. By 1972, EMCC's sales hit $US2 billion, about 80 percent of it supplied by Philipp, and in 1974 revenue reached $5 billion. By 1981, Philipp Brothers earned 89 percent of the total corporation's $US26.6 billion in revenues and 88 percent of its $US532.7 million in profits. Management in the slow growing minerals-and-chemicals division, along with those in precious metals, felt overshadowed by their trading counterparts. This led to the spinoff of Philipp Brothers (later called Phibro), and renaming what was left the Engelhard Corporation.