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Business

Business Roundup

June 2, 2014 | APPEARED IN VOLUME 92, ISSUE 22

BASF will build a plant for polyalkylene glycol-based lubricants at its headquarters site in Ludwigshafen, Germany. The company says the plant, a double-digit million euro investment, will benefit from back integration to raw materials including ethylene oxide and propylene oxide.

Ineos, the European petrochemical giant, and England-based plastics compounder Doeflex Compounding plan to combine their suspension polyvinyl chloride businesses. The new company will be run by a management team featuring personnel from both firms.

Segetis, a biobased chemicals firm that makes its products from levulinic acid, has been awarded a $325,000 NextGen Energy grant by the state of Minnesota. The funds will be used to construct a pilot plant that will enhance process development at the firm and expand its plasticizer platform.

Materia will use its catalyst technology to help Qatar Petrochemical develop new materials from by-product streams. Pasadena, Calif.-based Materia was founded in 1998 to commercialize olefin metathesis technology invented by Caltech professor Robert H. Grubbs.

Avantor Performance Materials has named Michael Stubblefield as CEO. He joins the former J.T. Baker chemical distribution business, now owned by private equity firm New Mountain Capital, from the chemical practice of consulting firm McKinsey & Co., where he was a senior expert.

Jubilant Pharma has secured a $147 million loan from IFC, part of the World Bank. The Indian drugmaker says it will use the funding to improve its supply of generic drugs to less-developed countries.

Evotec has acquired Euprotec, a U.K.-based contract research organization that specializes in anti-infective drug discovery services. Evotec, also a CRO, says the purchase, for about $3 million, will allow it to establish an anti-infectives platform.

BioVersys, a spin-off of ETH Zurich, will collaborate with GlaxoSmithKline and a consortium sponsored by France’s University of Lille to develop a preclinical candidate against tuberculosis. Supported by the U.K.’s Wellcome Trust, the project will use the Swiss company’s technology to find transcriptional regulator inhibitory compounds.

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