Business Roundup | Chemical & Engineering News
Volume 90 Issue 13 | p. 27 | Concentrates
Issue Date: March 26, 2012

Business Roundup

Department: Business

Arysta LifeScience is ending U.S. sales of its methyl iodide-based soil fumigant Midas after a review of its economic viability in the U.S. California’s approval of the fumigant in early 2011 was lambasted by activist groups, which called methyl iodide a known carcinogen.

Air Products & Chemicals has signed a joint R&D agreement with South China University of Technology on sustainable water purification technology. The partners seek to develop a bioreactor that integrates biological aerated filter and ozone reaction water treatment technologies.

SK Global Chemical plans to set up a plant in Ningbo, China, for ethylene propylene diene monomer (EPDM) rubber. SK says it is still looking for a local partner to take a minority stake in the project, which is scheduled to come on-line in 2014.

Avantium and French food maker Danone will develop water bottles made from polyethylene furanoate, a polyester incorporating the renewable raw material furan dicarboxylic acid. Avantium signed a similar agreement with Coca-Cola in December.

Epolin has reached a definitive agreement to be acquired by Princeton, N.J.-based investment firm Polymathes Capital for $2.7 million. Epolin, based in Newark, N.J., is a maker of infrared- and laser-absorbing dyes.

Frutarom, an Israeli flavor and aroma chemicals maker, has acquired 97.6% of the Slovenian fruit-based flavor and food systems company Etol for $46 million. Etol employs 240 people and had sales of $38 million for the first nine months of 2011.

Shire has agreed to license Heptares Therapeutics’ preclinical aden­osine A2A antagonists for the treatment of central nervous system disorders. Heptares will receive an undisclosed up-front payment and is eligible for milestone payments of as much as $190 million.

Nektar Therapeutics will consolidate its U.S. R&D operations at its San Francisco facility, adjacent to the University of California, San Francisco, campus in Mission Bay. The company will move scientists from its Huntsville, Ala., site.

Sanofi will expand its biosurgery business by acquiring Pluromed, based in Woburn, Mass. Pluromed’s rapid-transition polymer technology can be used for injectable plugs and gels, such as its LeGoo, which controls bleeding during surgery.

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