Issue Date: July 7, 2008
Dow Chemical will spend $88 million to expand its Edina, Minn., water filtration membranes facility by 25%. The company says it will add capacity for reverse osmosis and nanofiltration membranes. It will also expand the automated processes required to produce 16-inch membrane elements.
ConocoPhillips will sponsor $5 million worth of research at the Colorado Center for Biorefining & Biofuels, part of the Colorado Renewable Energy Collaboratory, which was launched last year by four Colorado-based institutions. The first project will involve converting algae into fuel.
Mitsui Chemicals has started up in Japan a 3,000-metric-ton-per-year plant producing amorphous cycloolefin copolymer. This is Mitsui's second plant producing this highly refractive material, which is used in products such as camera phone lenses.
Hikal has started up a multipurpose agrochemical plant in Taloja, in southern India, that will supply active ingredients used in a Bayer CropScience fungicide and other Bayer crop protection products. Hikal and Bayer CropScience signed a long-term supply agreement in March.
Wellman has filed a reorganization plan in New York bankruptcy court. The company, which filed for bankruptcy in February, hopes to have its plan approved in September and emerge from bankruptcy soon thereafter.
Mitsubishi Tanabe Pharma has offered a preretirement package to 4,300 of its employees who are over the age of 40 and who have been at the firm for more than 10 years. The company is a pharmaceutical subsidiary of Mitsubishi Chemical.
Bayer Healthcare will spend $90 million to acquire Maxygen's hemophilia drug assets, including a recombinant Factor VIIa protein known as MAXY-VII. The protein is expected to enter Phase I clinical testing in the third quarter.
Galapagos will provide compound management and related services to Massachusetts-based Sepracor, which focuses on respiratory and central nervous system disorder medicines. The contract's value for Galapagos is $1.5 million. Services will be provided from the South San Francisco compound management facility run by Galapagos' BioFocus division.
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