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Business

Business Roundup

August 2, 2010 | A version of this story appeared in Volume 88, Issue 31

Evonik Industries has acquired the Silbyk polyurethane foam additives business from BYK-Chemie, a subsidiary of Altana. Evonik says the additives are a good complement to its existing line of polyurethane additives, which include stabilizers, release agents, colorants, and antioxidants.

Sensient Technologies plans to expand its pharmaceutical coating capabilities in St. Louis. The project, aimed at major pharmaceutical companies, will boost the square footage dedicated to drug coatings by more than 50% and raise the plant’s maximum batch size “significantly,” the company says.

Styron, the styrenic polymers and latex business that private equity firm Bain Capital recently purchased from Dow Chemical, has chosen the Philadelphia area for its new headquarters. The company is considering several locations in the vicinity to house 40 to 50 employees. It will retain about 180 positions in Midland, Mich.

Huber Engineered Materials will more than double capacity at its silica plant in Jhagadia, India, to 33,000 metric tons per year. It expects to complete the work early in 2012. A year ago, the company opened a 40,000-metric-ton-per-year plant in Qingdao, China, to produce silicas for toothpaste.

Cabot has acquired Oxonica Materials, which develops surface-enhanced Raman scattering materials and detection methods. Such materials provide a unique signal that can be detected in counterfeit-prevention applications. Cabot already supplies covert taggants for security uses.

Dow Chemical, through its venture capital group, joined Bessemer Venture Partners to lead a $29.5 million, third round of funding for energy storage start-up Xtreme Power. Xtreme provides utility-scale power management and energy storage systems for use with wind and solar power.

Merck & Co. and Sanofi-Aventis have named Raul E. Kohan as CEO of their proposed animal-health joint venture, Merial-Intervet. Kohan is currently president of Intervet/Schering-Plough, Merck’s animal-health business. Regulatory authorities are expected to approve the venture in the first quarter of 2011.

Merck & Co. and Sinopharm have agreed to partner on the development of a human papillomavirus vaccine and other vaccines in China. The companies say they are also discussing a marketing deal for Merck products in China.

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