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Business

Altana, Total move on sales of chemicals

March 20, 2006 | APPEARED IN VOLUME 84, ISSUE 12

Altana's plans to split up its drug and chemical operations are "under way," Chairman Nikolaus Schweickart said last week when the company reported its 2005 results. The company wants its search for a strategic partner in pharmaceuticals and the stock listing of the chemical business to be accomplished this year, "probably in late fall," he said. Separately, the board of French oil giant Total last week advanced the spin-off of the company's Arkema industrial chemical business. The board will propose a May 18 spin-off at Total's May 12 annual meeting.

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