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Business

Business Roundup

August 14, 2006 | A version of this story appeared in Volume 84, Issue 33

Vertellus Specialties is expanding its Greensboro, N.C., site. The company, formed last month through the combination of Reilly Industries and Rutherford Chemicals, says it is adding a new plant to produce castor oil and shea butter derivatives.

Bayer will invest $8 million in new computerized controls at its polyol operations in New Martinsville, W. Va. The project, expected to improve flexibility of the unit, will be completed by the end of 2007.

Royal Group Technologies shareholders have approved a $1.6 billion takeover bid by polyvinyl chloride resins maker Georgia Gulf. Royal makes PVC building products such as siding and windows.

Degussa has launched a new "project house" that will focus on boosting its expertise in making and modifying functional films. Degussa says the project house will expand on a functional polymers project house that will wrap up this summer.

Ciba Specialty Chemicals has acquired a majority stake in MetalFX, a British firm that has created a technique for printing many metallic effects in one run on a five-color printing press.

Akzo Nobel has formed a sales and technology alliance with Feixiang Chemicals (Zhangjiagang) Co., a leading Chinese surfactants supplier. Feixiang's plant has capacity for 80,000 metric tons per year of fatty amines and derivative surfactants.

ImClone Systems has decided to remain independent, following a review of strategic options it initiated in January. The biotechnology firm says alternatives, including acquisition bids, didn't hold up in light of its improving financial performance.

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