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Business

Business Roundup

July 9, 2012 | APPEARED IN VOLUME 90, ISSUE 28

Calgon Carbon has named Randall S. Dearth, 48, as its new president and CEO effective Aug. 1. He will replace John S. Stanik, who earlier announced his retirement. Dearth is currently president and CEO of Lanxess’ U.S. operations.

Abound Solar, a manufacturer of thin-film cadmium telluride solar modules, has filed for bankruptcy protection. It will suspend operations and lay off its 125 workers. The firm had raised $300 million in private funds and used $70 million of a $400 million Department of Energy-backed loan guarantee.

A European Union research consortium led by Procter & Gamble and including research institutes and biochemistry firms has begun a three-year project to develop an enzyme-based process for making polymers from renewable raw materials. The EU is contributing $4.4 million toward the project’s $6 million costs.

Siegfried plans to build a facility in Nantong, China, for active pharmaceutical ingredients and intermediates. The Swiss pharmaceutical chemical company says the plant will open in 2014 with the assistance of NETDA, a Chinese development organization.

GlaxoSmithKline has finalized a previously announced agreement with U.S. and state governments to resolve investigations into its marketing practices. The British firm will pay $3 billion and submit to performance-monitoring programs.

W.R. Grace and Braskem are joining in a multiyear agreement to develop catalysts for producing chemicals from renewable raw materials. Grace is a leading catalyst maker; Braskem already makes polyethylene from renewables.

Janssen-Cilag, a unit of Johnson & Johnson, has purchased the German biotech firm Corimmun for an undisclosed sum. With the deal, Janssen gains a small cyclic peptide in early studies for the treatment of heart failure.

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