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Cognis has opened a $7.3 million polyol esters manufacturing unit in Jinshan, near Shanghai, China. The firm says the plant will supply fast-growing markets for refrigeration and air-conditioning lubricants in China, South Korea, and India.
Akzo Nobel is selling its solar cell unit, Helianthos, to the Dutch energy company Nuon, for an undisclosed amount. The unit, founded by Akzo in 1997, is developing technology for roll-to-roll manufacturing of flexible solar cells using a proprietary thin-film-deposition technology.
Degussa Management Board Chairman Utz-Hellmuth Felcht, 59, will step down from his post and leave the company at the annual meeting next month. Klaus Engel, 49, managing director of chemical distribution firm Brenntag, will join Degussa and succeed Felcht on June 1.
Kemira is acquiring the German company IFAC, a privately owned R&D company with a focus on R&D projects for the cosmetics industries. IFAC has a strong patent portfolio in nanotechnology for cosmetics.
ICI is investing $14 million in a new plant to produce waterborne decorative paints in Vietnam. The plant is being built near Ho Chi Minh City and is scheduled to start up next year. It is ICI's second paints plant in Vietnam.
Eden Biodesign will supply current Good Manufacturing Practice clinical manufacturing services to Onyvax for Onyvax's cell vaccine program in ovarian cancer. Eden Biodesign runs the National Biomanufacturing Center in Liverpool, a $60 million initiative funded by the British government to provide state-of-the-art biomanufacturing facilities and development expertise to small and medium-sized companies and to academics; it started up in February 2006.
Wacker was officially launched on the German stock exchange in Frankfurt on April 10 and saw its share price jump by 22% on opening day. The $1.45 billion initial public offering was for just under 30% of the company's shares, which opened at roughly $108 per share.
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