Business Roundup | Chemical & Engineering News
Volume 86 Issue 22 | p. 21 | Concentrates
Issue Date: June 2, 2008

Business Roundup

Department: Business

Lanxess is realigning its butyl rubber plant in Zwijndrecht, Belgium, in a move that could cut up to 93 of the 470 jobs currently at the site. Lanxess says it launched an earlier efficiency program at the site in 2006.

Innospec, which makes tetraethyl lead and other fuel additives, is being investigated by the U.K.'s Serious Fraud Office as part of a probe into the United Nations' Oil-for-Food Program. The fraud office is investigating contracts made by Innospec's Swiss subsidiary Alcor Chemie. In 2006, the U.S. Securities & Exchange Commission launched its own investigation of Innospec and the subsidiary.

BASF will cooperate with Taiwan's Academia Sinica to identify genes that improve stress tolerance and increase yields of major crops such as rice and corn. By taking advantage of basic gene research performed by Academia Sinica, BASF aims to market genetically modified crops with improved traits.

Sumitomo Chemical will build its third Japanese resorcinol plant, boosting the company's capacity by 50% to 30,000 metric tons per year. Resorcinol is used to make adhesives, agrochemicals, flame retardants, pharmaceuticals, and other products. Sumitomo is already the world's largest resorcinol producer.

Süd-Chemie has acquired a majority stake in Ajay Metachem, India's leading supplier of foundry additives. The Germany-based company says Ajay's resins, coatings, and additives are "a perfect addition" to its own line of products for the foundry industry.

Toray Industries has agreed to pay $15.3 million to the U.S. Department of Justice to settle carbon-fiber price-fixing charges. The whistle-blowers who alleged that Toray and others conspired to fix prices will receive $4 million from the settlement.

Solutia's Flexsys subsidiary wants to increase its Asian capacity to make insoluble sulfur, a rubber-vulcanizing agent. The company, which has seven plants making the agent, including two in Asia, says it is evaluating sites for the expansion.

Sterling Chemicals, a Houston-based petrochemical maker, has appointed John V. Genova president and CEO. Genova was formerly the vice president of corporate planning for Tesoro, an oil refiner and marketer.

Polymer Technology Group has licensed a family of absorbable polymers for medical uses from Bezwada Biomedical. PTG, which DSM just acquired, says the agreement expands the range of polymers for implantable medical devices and drug delivery it can offer.

Wyeth and Indian contract research firm GVK Bio have formed an agreement under which GVK will provide chemistry, informatics, biology, and other support for drug discovery on predefined targets. The deal builds on a general research pact the two firms formed in 2006 under which Hyderabad-based GVK built a dedicated R&D facility.

 
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