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Business Roundup

September 8, 2014 | A version of this story appeared in Volume 92, Issue 36

Protex International has acquired Mereco Technologies, a West Warwick, R.I.-based maker of formulated epoxies, urethanes, and silicones for electronics applications. Protex, a French chemical company, says Mereco will complement its Protavic subsidiary.

Evonik Industries says it may soon close its site in Flimby, England, putting its 31 employees out of work. The plant makes raw materials for fabric softeners.

Perstorp has reduced its ownership in Vencorex Holding, an isocyanates joint venture formed in 2012 with Thailand’s PTT Global Chemical, from 49% to 15%. Perstorp says it wants to focus on its core specialty chemicals and resins businesses.

Evonik Industries has agreed to sell its 49% stake in the German energy firm STEAG to a consortium of utility firms for about $750 million. Evonik sold 51% of STEAG to the consortium in 2011.

PAC, a Houston-based instrument manufacturer, will open a manufacturing, distribution, and training center in Shanghai this October. PAC says its core skills are in chromatography, elemental analysis, physical properties, and fuels composition.

Piramal Enterprises and Navin Fluorine International, both of India, have agreed to form a 51-49 fluorochemical venture that will focus on the health care market. The venture will initially invest about $20 million in India.

Intrexon will work with Sanofi Chimie to improve the production process for a family of active pharmaceutical ingredients. Intrexon will apply computational biology and bioinformatics methods to identify more efficient biological pathways and customize cell lines for making fermentation products.

Luye Pharma will pay $600 million to acquire 58% of compatriot Chinese firm Jialin Pharmaceutical. With annual sales of about $500 million, Luye sells branded oncology, cardiovascular, and gastroenterology drugs in China. Jialin focuses on cardiovascular drugs.



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