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Business

Business Roundup

May 22, 2006 | A version of this story appeared in Volume 84, Issue 21

Mitsui Chemicals has started up a plant in Nagoya, Japan, producing optical filters for plasma panel displays. The plant more than doubles capacity at the site to 1.8 million sheets per year. Mitsui expects the optical filter market to grow by 30% annually.

Arkema started trading on the Paris Stock Exchange last week at 27 euros ($34.52) per share. Arkema, the former industrial chemicals business of French oil company Total, saw its share price rise to more than 30 euros soon after trading started.

Dow Chemical's venture capital arm is an investor in Spotwave Wireless through participation in a $2.5 million funding round that Spotwave recently completed. Spotwave develops indoor wireless coverage products.

Wacker Chemie plans to build a new plant in Burghausen, Germany, that will make dispersible powders, which are polymeric binders used in construction applications. Wacker says the plant will open in 2007 with 30,000 metric tons of annual capacity.

Süd Chemie is close to selling its pet products business for $38 million to an undisclosed buyer. The unit, which generated about $70 million in sales in 2005, processes bentonite for use in cat litter and makes nutritional supplements and "luxury items for cats, dogs, and rodents."

DuPont has signed a letter of intent with China's Huatai Group for the supply of chlorine and other chemicals to a $1 billion titanium dioxide plant DuPont is planning for Dongying, Shandong province, in eastern China. Huatai plans to build a chlor-alkali facility next to the DuPont plant.

Braskem, Brazil's largest private chemical maker, is in talks about acquiring Polialden, a Brazilian maker of ultra-high-molecular-weight polyethylene. Braskem already controls Polialden with a 64% stake.

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