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Business

BUSINESS ROUNDUP

May 31, 2004 | APPEARED IN VOLUME 82, ISSUE 22

  • Dow Corning has set up a surface and interface solutions research group within its technology center in Seneffe, Belgium. The lab will work with customers at the interface between silanes and other materials.
  • Eastman Chemical says nearly 450 employees have accepted its early retirement offer. Last fall, the firm targeted 600 jobs for elimination. However, a spokeswoman says the large number of voluntary acceptances means the firm can avoid companywide layoffs.
  • Dow Chemical will double capacity of its styrene/butadiene paper coating plant in Zhangjiagang, China, to 48,000 metric tons per year. The $10 million expansion is scheduled for completion in the second half of next year.
  • JSR Corp. has inaugurated a $5 million applications lab for chemical mechanical planarization slurries and pads in Sunnyvale, Calif. CMP slurries and pads are used by semiconductor manufacturers.
  • DuPont has become a seeker company on InnoCentive, the online network where companies can pose scientific problems to more than 60,000 scientists worldwide.
  • Novartis and Munich-based MorphoSys will collaborate to discover and develop antibody-based biopharmaceuticals. Novartis will make a $10 million investment in MorphoSys, and MorphoSys will receive more than $30 million in R&D funding and license fees over the next three years.
  • The BOC Group is purchasing Duke Energy's 30% share in Mexico's Compañia de Nitrógeno de Cantarell, which owns the world's largest nitrogen plant, for close to $60 million, increasing its stake to 65%. Gas from the plant is used to boost output from the Cantarell oil field. <!-- This document created using BeyondPress(TM) 4.0.1 For Macintosh -->
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