Business Roundup | Chemical & Engineering News
Volume 93 Issue 20 | p. 17 | Concentrates
Issue Date: May 18, 2015

Business Roundup

Department: Business

Sensient Technologies has reached an agreement to acquire Xennia Technology, a maker of inks used in digital printing. The business, now owned by Royal Ten Cate, had sales of $11 million last year.

Lanxess has named Antonis Papadourakis CEO of its Pittsburgh-based North American subsidiary, effective July 1. Papadourakis is now Americas region president at the Altuglas subsidiary of Arkema.

Toray Industries’ U.S. subsidiary, Zoltek, will double its capacity for large-tow carbon fiber in Mexico to 5,000 metric tons per year. Used in wind turbines and car frames, large-tow carbon fiber is cheaper than standard carbon fiber, which has fewer filaments.

908 Devices, a maker of portable mass spectrometry instruments, has raised $12 million in new funding from investors led by Saudi Aramco’s venture capital arm. Along with the investment from Aramco comes a pact to advance 908 Devices’ technology in oil and chemical operations.

BP will close a cellulosic ethanol facility in Jennings, La., and lay off 56 workers after failing to find a buyer. The company acquired the plant from Verenium in 2010; last year BP said it would focus its biofuels investment on its sugarcane ethanol in Brazil.

Pfizer will pay $87.5 million to acquire a minority stake in AM-Pharma, a Dutch biotech firm developing recombinant human alkaline phosphatase (recAP) for inflammatory diseases. In January, AM-Pharma started a Phase II study of recAP as a treatment for sepsis-related kidney injury.

Nikon will access Lonza’s operating system, facility design, and consulting services to launch a cell and gene therapy contract manufacturing business in Japan. Nikon is considering the Tokyo-Yokohama area as the site for a new facility.

Alexion Pharmaceuticals plans to build a biologics plant near Dublin, Ireland. The four-year, $505 million project is expected to create 800 construction jobs and 200 permanent jobs, according to IDA Ireland, Ireland’s industrial development authority.

Transition Therapeutics will pay $1 million to license a small-molecule drug candidate from Eli Lilly & Co. The deal, Toronto-based Transition’s fourth such agreement with Lilly, is for TT701, a selective androgen receptor modulator shown to increase lean body mass.

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