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Business

Business Roundup

December 4, 2006 | A version of this story appeared in Volume 84, Issue 49

BASF has sold its global terbufos insecticide business to Amvac Chemical. The business had sales of about $26 million in 2005. Terbufos is used as a soil insecticide and nematicide mainly in corn, bananas, and coffee.

United Phosphorus is paying about $25 million for Dow AgroSciences' propinil herbicide business. The product, mostly used to control rice weeds, has annual sales of about $19 million. India-based United recently acquired Arkema's agrochemicals business, Cerexagri.

Asahi Glass will spend $22 million to almost double its capacity for ethylene-tetrafluoroethylene copolymer at its Kashima plant in Japan. The company reckons it supplies roughly half of the world market,

Teijin will expand capacity for Twaron high-performance fibers and related feedstock at its sites in Emmen and Delfzijl, the Netherlands, by a total of about 15% by the end of 2008. The project will be the fourth expansion in the past six years, the company says.

DuPont plans to sell its special adhesives business to Bostik, a unit of France's Total, by year's end. The business, which employs 27 people in Wuppertal, Germany, makes packaging adhesives.

Dow Chemical is selling its interest in its vinyl acetate plant in Cabo, Brazil, to Brazil's JB Group. Dow says the plant doesn't fit its model of integrated production but that it will continue to market the plant's output.

Hercules' Aqualon unit has signed a letter of intent to build a 15,000-metric-ton-per-year hydroxyethylcellulose plant in Nanjing, China. The plant is expected to be completed in mid-2008.

Akzo Nobel has opened a second paper chemicals facility in China under the Eka Chemicals banner. The new facility, in Guangzhou, supplements an existing plant in Suzhou and doubles Akzo's output in China, where it says demand for paper and paperboard is expanding rapidly.

Actavis, an Icelandic generic drug company, has agreed to acquire Abrika Pharmaceuticals, a U.S.-based marketer of controlled-release and other technically difficult generics. Actavis is paying $110 million up front and as much as $125 million more over three years.

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