Issue Date: June 11, 2007
Bayer CropScience has agreed to buy Monsanto's Stoneville Pedigreed Seed for $310 million. Monsanto's divestiture is a condition of an agreement with the Department of Justice allowing it to complete the $1.5 billion purchase of cotton seed producer Delta & Pineland.
Shell Chemicals will increase flexible polyol capacity in Pernis, the Netherlands, from the current 155,000 metric tons per year to 255,000 metric tons. The expansion is expected to be complete by the middle of next year.
Arch Chemicals has joined the World Environment Center, a nonprofit group that helps members advance sustainable development business practices. Members include Dow Chemical, Syngenta, Chevron, and Pfizer.
Frutarom Industries, an acquisitive Israeli flavors and fragrances maker, has agreed to acquire Israel's Raychan Food Industries for $1 million. Earlier this year, Frutarom acquired two English companies, Belmay and Jupiter Flavors, for $20 million.
Shandong Dongyue Chemical, a Chinese refrigerants maker, has sold a 27.3% interest in itself to the World Bank's International Finance Corp. and Baring Private Equity Partners Asia for $130 million. Shandong will use the infusion of money to expand its refrigerant capacity and launch an organosilicon project.
Degussa has promoted Patrik Wohlhauser, 42, currently head of its exclusive synthesis and catalysts business, to run its new international sales function. His successor will be Rudolf Hanko, 51, who currently heads the exclusive synthesis part of the business.
Genzyme Corp. plans to invest nearly $140 million in a new biomanufacturing plant in Lyon, France, to produce its Thymoglobuline antithymocyte globulin, a treatment used in organ transplantation. When completed in 2011, the plant will have double the capacity of a smaller plant nearby, which will be closed.
Wacker Chemie will set up in Nanjing, China, a spray dryer for dispersible polymer powders derived from ethylene and vinyl acetate. Scheduled to open in 2008 with an annual capacity of 30,000 metric tons, the plant will be Wacker's second such facility in China. The powders are used for making construction mortar.
BASF will spend $63 million to build a coal-fired steam plant in Yeosu, South Korea. Making use of a clean-air process, the steam unit will supply BASF's polyurethane plants already in operation at the same site.
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