Business Roundup | Chemical & Engineering News
Volume 89 Issue 43 | p. 18 | Concentrates
Issue Date: October 24, 2011

Business Roundup

Department: Business

DIC will spend about $19 million to build a 6,000-metric-ton-per-year polyphenylene sulfide compounding plant in Vienna. Late last month, the Japanese firm agreed to purchase Solvay’s business in compounding the engineering plastic.

Yule Catto has acquired Malaysia’s Quality Polymer for about $16 million. The British firm says Quality, which has about $16 million in annual sales, expands its Southeast Asian business in acrylic and vinylic polymer dispersions for adhesives and coatings.

WuXi PharmaTech has acquired Abgent, a supplier of biological research reagents and services that is based in China and San Diego. Ten-year-old Abgent sells about 20,000 antibodies and also produces peptides and proteins for research and diagnostic use.

Rhodia and Cobalt Technologies plan an alliance to build biobased n-butyl alcohol facilities in Latin America using Cobalt technology. Feedstock will be bagasse, a waste product of sugar refining.

Allychem has licensed technology developed by Martin D. Burke of University of Illinois, Urbana-Champaign, for making MIDA boronates. The China-based firm will produce amounts larger than 1 kg for customer use in Suzuki-Miyaura couplings and other syntheses.

Servier will pay Miragen Therapeutics up to $45 million in up-front, research, and near-term milestone payments as part of a deal to develop Miragen’s microRNA-based drugs. Servier says microRNAs play a role in heart failure and other conditions.

ITT Corp. is preparing to spin off its water technology business as a stand-alone company on Oct. 31. To be called Xylem, the new firm will have more than $3 billion in annual sales of products and services for moving, treating, analyzing, and using water.

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