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Business Roundup

October 28, 2013 | APPEARED IN VOLUME 91, ISSUE 43

The World Plastics Council has been launched by 80% of the world’s leading plastics producers. Formed to address global issues facing the industry, the council will be chaired by Patrick Thomas, CEO of Bayer MaterialScience .

Altana has acquired Valspar’s European water-based and ultraviolet-cured overprint varnishes business, which had sales of nearly $11 million in 2012. Altana will integrate the business into its graphic arts operation. In August, Altana acquired Henkel’s packaging coatings business.

Methanex plans to sell a 10% interest in Egyptian Methanex Methanol Co. to Arab Petroleum Investments for $110 million. Methanex will remain the majority shareholder of the methanol joint venture.

KMG Chemicals will close a plant in Fremont, Calif., that makes high-purity chemicals for the electronics industry and consolidate production in Hollister, Calif., and Pueblo, Colo. KMG acquired the Freemont plant with its purchase of OM Group’s high-purity chemicals business earlier this year.

Clariant has initiated legal action in China against unnamed firms it accuses of violating its patents on Exolit OP flame retardant. The phosphinates are used in nylon and polyester engineering plastics.

FRX Polymers has opened a commercial-scale plant at a Bayer site in Antwerp, Belgium, for its polyphosphonate flame-retardant polymers. The company says the halogen-free polymers have limited impact on the properties of the engineering polymers they are blended with.

Intelligent Energy, a hydrogen-fuel-cell firm, has raised $51 million from undisclosed investors. The firm, based in Loughborough, En­gland, will use the money to expand R&D and commercialize products for consumer electronics and stationary power storage.

Merck Serono and the Polish biotech company Selvitas will work together to discover small-molecule drugs targeting proteins involved in cancer cell metabolism. Merck will pay Selvitas more than $3 million plus possible milestone payments.

ChromaDex, a natural products discovery firm, has received an undisclosed investment from DSM. ChromaDex sells ingredients to the dietary supplement, food and beverage, animal health, cosmetic, and pharmaceutical industries.



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