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Business Roundup

October 6, 2014 | APPEARED IN VOLUME 92, ISSUE 40

Innospec has agreed to acquire Independence Oilfield Chemicals for about $200 million. With annual sales of about $150 million, Houston-based IOC produces completion, stimulation, and production chemicals for the oil and gas industry. Innospec acquired two oil-field chemical makers last year.

Frutarom, the acquisitive Israeli flavors maker, has agreed to acquire the flavors and natural-food-colors division of Peru’s Montana S.A. The $28.5 million purchase includes operations in Peru and Chile.

BASF is restructuring its paper chemicals business with the loss of about 50 jobs and the closure of its headquarters in Basel. The firm says it is considering “strategic options,” such as a sale, for its paper hydrous kaolin business.

Cabot and partner Westmoreland Coal plan to double the capacity of their activated carbon facility in Bienfait, Saskatchewan, to 70 million lb per year. The addition anticipates future demand for activated carbon used to remove mercury at coal-fired electric utilities.

LyondellBasell Industries CEO James L. Gallogly, 61, is retiring in early 2015. Gallogly has run the company since it emerged from bankruptcy in 2009. He earlier led Chevron Phillips Chemical from its formation in 2000 until 2006.

Clariant has agreed to buy VitaPac, a Chinese producer of specialty packaging materials. The company employs 80 people and runs a plant in Dongguan in southern China. VitaPac’s materials are used in industries such as food, pharmaceuticals, and electronics.

Agilent Technologies has teamed up with scientists at the University of Toronto’s Donnelly Centre for Cellular & Biomolecular Research to develop a metabolomics multiple-reaction monitoring library. The library is intended to aid disease research when coupled with Agilent’s MassHunter software.

WuXi PharmaTech will acquire the bioanalytical services firm XenoBiotic Laboratories for an undisclosed sum. XBL has 150 employees at sites in Plainsboro, N.J., and Nanjing, China. WuXi, a Chinese pharmaceutical outsourcing company, says the deal enhances its laboratory testing division.

Silver Leaf Oak, an Indian investment fund, is paying $61 million for a 10% stake in Syngene, a supplier of pharmaceutical research services based in Bangalore, India. Biocon, an Indian drug company, will continue to own most of Syngene.



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