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Business

BUSINESS ROUNDUP

February 25, 2008 | APPEARED IN VOLUME 86, ISSUE 8

Eastman Chemical will sell its pine chemicals product lines to MeadWestvaco's specialty chemicals division for an undisclosed sum. MeadWestvaco, a paper company, says it will move production of tall oil rosins and tall oil fatty acids to it own plants.

Dow Chemical is studying an expansion of its toluene diisocyanate plant in Camaçari, Brazil. The new capacity for the polyurethane intermediate would come online in 2011. The company says demand for TDI is expected to outpace economic growth in the region by as much as 2% annually.

Henkel has received a green light from the European Commission to buy the adhesives and electronic materials businesses of ICI, recently acquired by Akzo Nobel. Henkel's proposed acquisition of these businesses helped Akzo Nobel put together its successful bid to buy ICI.

Evonik Industries' Röhm subsidiary has licensed its hydrocyanic acid technology, which is based on the Andrussov process, to Akzo Nobel. Akzo will use the technology in Ningbo, China, to produce chelating agents.

Invista will build a "multi-million-dollar" pilot plant at its Kingston, Ontario, nylon facility, according to the company. It says it will use the plant to work on "next-generation nylon technology." It claims that advances in technology and engineering of nylon 6,6 and modified nylons will lead to products in new and existing markets.

Genmab, a Danish biotech firm, will acquire PDL BioPharma's antibody manufacturing facility in Brooklyn Park, Minn., for $240 million. PDL started selling itself off piecemeal last year after a key product failed in trials. Genmab says it needs the capacity to launch its antibodies in late-stage development.

BASF plans to sell its interest in a human nutrition premix joint venture to partner Fortitech. The venture supplies custom blends of vitamins, minerals, and other supplements used in food and drinks. BASF says it will continue to supply Fortitech with nutritional ingredients including vitamins, omega-3 fatty acids, and carotenoids.

Novozymes, an enzymes maker, and Upperton, a U.K. biotech company, are collaborating in nanoparticle-based drug delivery systems. According to the deal, Upperton will use the partners' jointly owned rP-nano technology to generate nanoparticles from recombinant proteins that are expressed in Novozymes' yeast-based expression systems.

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