Issue Date: April 30, 2007
Akzo Nobel will spend $340 million at its site in Ningbo, China, to build chelating agent and ethyleneamines plants by 2009 and 2010, respectively. The company announced preliminary plans for the facilities in October.
BP intends to sell its ethyl and vinyl acetate plants in Saltend, near Hull, in northeast England. The company says it will focus on acetic acid and acetic anhydride at Saltend and relocate the sales and marketing posts for its entire acetyls business from near London to Saltend.
Dow Chemical is expanding its Midland, Mich., divinylbenzene capacity by 3 million lb per year by the end of 2007. Divinylbenzene is used as a cross-linking agent in ion-exchange resins, adhesives, specialty plastics, andelastomers.
Qapco, a joint venture between Industries Qatar and Total Petrochemicals, will build a third low-density polyethylene plant in Mesaieed, Qatar. The plant's 250,000 metric tons per year of capacity will bring LDPE capacity at the site to about 650,000 metric tons by 2010.
Roche is investing $60 million at its Florence, S.C., facility, which conducts pharmaceutical process development and makes bulk active ingredients. The company says it will construct a new multipurpose production unit in an existing building by the end of 2008.
Bristol-Myers Squibb has elected James M. Cornelius as CEO. Cornelius led the company on an interim basis for eight months following the firing of the previous CEO, Peter R. Dolan.
PPG Industries continues to "aggressively explore" alternatives for its fine chemicals business, CEO Charles E. Bunch told shareholders at the firm's recent annual meeting. The alternatives could include restructuring, an alliance, or a sale, he said.
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