BUSINESS ROUNDUP | Chemical & Engineering News
Volume 85 Issue 28 | p. 22 | Concentrates
Issue Date: July 9, 2007

BUSINESS ROUNDUP

Department: Business | Collection: Economy

W.R. Grace has acquired parts of Grupo Sistiaga, a Spanish supplier of coatings for aluminum containers. Grace CEO Fred Festa says the purchase underscores a commitment to expand the company's Darex coatings and sealants business.

GlaxoSmithKline is investing roughly $6 million in Belgian biotech firm Galapagos as part of an alliance in two osteoarthritis projects. Galapagos could obtain up to $250 million in milestone payments, plus royalties on sales. Galapagos already has received more than $10 million from GSK since the start of the program in June 2006.

Rohm and Haas says two events will negatively impact second-quarter results. One is a $28 million charge for operating problems at its Deer Park, Texas, facility. The other is an $11 million charge largely to write off the company's investment in the online chemicals marketplace Elemica.

Hybrid Plastics has received a $5.6 million facilitization contract under Title III of the Defense Production Act. The company says the contract will allow it to expand to ensure an adequate supply of its polyhedral oligomeric silsesquioxane nanomaterial building blocks for defense and commercial applications.

International Specialty Products has acquired the biocides business of Hamburg, Germany-based Bode Chemie. ISP notes that the deal follows its earlier purchases of Progiven and the biocides assets of Milker & Grüning and Biochema.

Carbogen Amcis, of Switzerland, is integrating Manchester, England-based custom synthesis firm SynProTec into its drug development chemistry business. The two companies are owned by India's Dishman Pharmaceuticals & Chemicals and have been working together to supply large quantities of intermediates.

DuPont has sold its fenbutatin oxide miticide and triphenyltin hydroxide fungicide businesses to India's United Phosphorus for an undisclosed sum. United Phosphorus calls itself India's largest agrochemicals company.

Unipar, a Brazilian chemical company, will pay Dow Chemical $110 million for its stake in Brazilian petrochemical maker Petroquímica União and its polyethylene plant in Cubatão, São Paulo. Unipar is already PQU's largest shareholder.

ExxonMobil Chemical is planning to increase hydrocarbon fluids capacity at its Singapore plant by 130,000 metric tons per year by the end of 2008. The company says the expansion will increase its capacity for the products to more than a half-million metric tons.

Kemira will build a plant in China for calcium propionate, used as a preservative in the food and feed industries. Production of the chemical at the company's site in Yixing will be 15,000 metric tons per year by the end of 2008.

 
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