Business Roundup

Asahi Kasei will build a hexamethylene diisocyanate plant in Nantong, China, with annual capacity of 10,000 metric tons. Start-up is set for spring 2007. Asahi says HDI is mostly used as a curing agent for nonyellowing urethane paints.

Dow Corning is building a plant and technical services lab in the MIDC Industrial Park in Ranjangaon, India. When the facility opens next year, it will manufacture silicon-based polymers, lubricants, sealants, and emulsions for Indian and Asian markets.

Solvay and Chemical Products Corp. have launched their new joint-venture company, Solvay & CPC Barium Strontium. The venture, owned 75% by Solvay and 25% by CPC, will manage the partners' strontium- and barium-related businesses worldwide.

Rhodia is issuing new shares in order to raise roughly $710 million. The firm has been restructuring for the past two years, and CEO Jean-Pierre Clamadieu says the funds raised will enable it to enter a new phase.

Showa Denko will expand acetic acid and vinyl acetate capacity at its Oita, Japan, complex next year. Acetic acid capacity will rise by 30% to 130,000 metric tons per year and vinyl acetate capacity, by 45% to 175,000 metric tons.

Royster-Clark's board of directors has recommended that shareholders reject a takeover offer from Agrium. Agrium recently offered to buy the fertilizer distributor for about $450 million.

PolyOne will close a plastic color additives facility in Manchester, England, by the end of March 2006. The facility, which employs about 40 people, is being shuttered to reduce costs and align capacity with demand, the firm says.