BUSINESS ROUNDUP | Chemical & Engineering News
Volume 85 Issue 21 | p. 16 | Concentrates
Issue Date: May 21, 2007

BUSINESS ROUNDUP

Department: Business

Nitto Denko and Mitsubishi Rayon will set up an equally owned venture to develop new types of microfilter and reverse osmosis membranes for desalinating seawater and reprocessing wastewater. The venture, named Kathyd Technology, will be headquartered in Oceanside, Calif.

Hexion Specialty Chemicals and Russian chemical firm OAO Shchekinoazot are forming a joint venture to produce resins for the forest products and construction markets. The companies will build a plant at Shchekinoazot's site in Russia's Tula region. It will produce phenol formaldehyde resins initially and, later, other formaldehyde resins.

BASF will spend $2.6 million to set up an organic electronics R&D center in Singapore that will study printed electronics, organic light-emitting diodes, organic biosensors, and organic photovoltaics. A year ago, the German company announced it was investing $4 million in a nanostructured surfaces R&D center in Singapore.

McNeil Nutritionals and Merisant have settled their court battle over advertising for McNeil's sweetener Splenda. Aspartame marketer Merisant accused McNeil of misleading consumers with ads claiming Splenda was "made from sugar, so it tastes like sugar." Splenda is made by replacing three hydroxyl groups on sucrose with chlorine. Terms of the settlement were not disclosed.

Corning, the glassmaker, plans to invest $300 million to renovate an existing research facility and build a new one at the firm's Sullivan Park R&D campus near Corning, N.Y.

Arsenal Capital Partners has retained financial adviser JPMorgan to sell Vertellus Specialties. The private equity firm formed Vertellus last year by combining Reilly Industries, acquired in 2005, and Rutherford Chemicals, acquired in 2003.

Blackstone Capital Partners plans to sell its remaining 22.1 million Celanese shares, which are worth almost $780 million. Blackstone took Celanese private in 2004 and has since reduced its holding through sales to the public.

 
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