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Business Roundup

May 25, 2015 | APPEARED IN VOLUME 93, ISSUE 21

Eight people died and two were injured in a hydrogen sulfide leak at Ruixing Chemical in Yangcheng County, in China’s northern province of Shanxi, according to a report posted on the Shanxi government website. The report did not explain how the accident happened nor did it provide details about what Ruixing makes, and the company does not appear to have a website. Hydrogen sulfide is a flammable and toxic gas.

Kaneka will spend $100 million on two Malaysian projects. It will build a 9,000-metric-ton-per-year plant making silyl-terminated polymers, a liquid material that turns elastic when a curing catalyst is added to it. The company will also boost its Malaysian production capacity for resin modifiers by 20,000 metric tons to 50,000 tons annually.

PTT Global Chemical has revealed that the ethylene cracker it is considering building in Belmont, Ohio, with Japan’s Marubeni would have 1 million metric tons of annual capacity and start up in 2020. PTT still needs to select a site and is weighing factors such as government incentives, infrastructure, and labor availability.

DSM has acquired Cubic Tech, which produces flexible laminates and fabrics made with DSM’s Dyneema ultra-high-molecular-weight polyethylene fiber. DSM says the acquisition of the Mesa, Ariz.-based firm accelerates its entry into sports apparel and other high-performance textile markets.

DSM and Ascend Performance Materials have formed into an alliance for nylon 6,6 compounds. Under the agreement, Ascend will supply DSM with base polymer for DSM’s compounds, and DSM will also distribute Ascend’s nylon 6,6 compounds.

Wacker Chemie has formalized plans for an initial public offering of shares in its Siltronic silicon wafer business. The company, which attempted a similar offering 10 years ago, says it plans to offer the shares on the Frankfurt Stock Exchange this summer.

Albemarle’s Chemetall unit has acquired Chemal, a German developer of surface-finishing chemicals for aluminum and its alloys. Chemetall says the purchase will expand its expertise in the aluminum-finishing market.

Eli Lilly & Co. and Sanford-Burnham Medical Research Institute are joining to discover and develop immunological therapies for the treatment of diseases such as lupus and inflammatory bowel disease. The partners say they will use biotechnology approaches to target multiple immune checkpoint modulators.



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