BUSINESS ROUNDUP

DuPont has signed an agreement with NASA to develop urethane foam insulation reinforced with DuPont's Kevlar fiber for use in future spacecraft, including the Ares 1 crew launch vehicle. Scientists intend to incorporate Kevlar in the cell walls of the foam.

Albemarle has increased its ownership in two Chinese joint ventures, Ningbo Jinhai Albemarle Chemical & Industry and Shanghai Jinhai Albemarle Fine Chemicals, from 25% to 75%. Both ventures produce and market polymer antioxidants and associated intermediates.

Akzo Nobel has been given until Aug. 9 by the U.K.'s Takeover Panel to make an official takeover offer for ICI. ICI rejected the Dutch firm's informal offer of roughly $14.4 billion. If Akzo Nobel fails to make a formal offer by the deadline, it will be barred from making another offer for six months.

Lanxess' rubber chemicals subsidiary, Rhein Chemie, will invest nearly $10 million to modernize existing facilities and build new ones at its site in Mannheim, Germany. Some 70 jobs will be cut. The measures are designed to save Rhein Chemie roughly $7 million per year.

CMP Information is canceling the 2008 InformexEurope exhibition, which had been scheduled for April in Cologne, Germany. Earlier this year, CMP canceled plans to launch the event, a European version of the annual U.S. fine chemicals exhibition, in Berlin last month.

Arch Chemicals has purchased the remaining 51% interest in its wood preservatives joint venture in Australia for $19 million from partner Koppers Holdings. Arch says the business, which had 2006 sales of $54.1 million and net income of $1.2 million, is key to its international wood preservatives strategy.

GW Pharmaceuticals and Otsuka Pharmaceutical have formed a global cannabinoid research collaboration focused on central nervous system disorders and oncology. Otsuka will provide $9 million to cover research by GW and its scientific collaborators.

Abbott Laboratories has ended plans to sell its laboratory and point-of-care diagnostics businesses to General Electric. Abbott says the companies were unable to agree on final terms of the proposed $8 billion sale, which was announced in January.

Azopharma has agreed to purchase the former Kos Pharmaceuticals R&D facility in Hollywood, Fla. The contract research services company says the new lab will expand its capacity to produce drug active ingredients for clinical trials.