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Business

Business Roundup

June 8, 2015 | APPEARED IN VOLUME 93, ISSUE 23

ICL has settled a dispute with unions representing about 2,000 employees at potash and bromine production facilities on the Dead Sea, allowing the firm to resume production after a four-month hiatus. The agreement allows the Israeli chemical maker to restructure operations and cut 248 employees.

Ashland has agreed to sell its industrial biocides business to Troy Corp. for an undisclosed amount. The business makes ingredients that control bacteria and mold in coatings, construction materials, and other products.

Mexichem’s Vestolit subsidiary plans to install a 40,000-metric-ton-per-year line for making emulsion polyvinyl chloride at its site in Marl, Germany. Mexichem purchased Vestolit last year.

OCI of South Korea will seek a buyer for its subsidiary OCI Materials in order to focus on its renewable energy business. With sales of $190 million last year, OCI Materials produces gases such as nitrogen trifluoride for the electronics industry.

Sanford-Burnham Medical Research Institute and Takeda Pharmaceutical have signed a two-year pact to develop molecules targeting certain gene regulatory proteins that are implicated in heart failure. This marks the third partnership in five years for Sanford-Burnham and Takeda.

TA Instruments, a maker of analytical instruments for thermal analysis, has acquired assets of the ElectroForce Group from Bose. The purchase brings TA a line of mechanical testing instruments used to characterize medical devices, biomaterials, and engineered materials.

Solvay is offering employees worldwide a profit-sharing plan indexed to the firm’s financial and sustainable-development performance for 2015 and 2016. The plan, the firm says, will strengthen employees’ sense of belonging to Solvay. About $11 million is budgeted for the plan in 2015.

Albany Molecular Research Inc. has signed a collaborative agreement with HarkerBIO to comarket the Buffalo-based biotech research firm’s structure-based drug discovery services with AMRI’s drug discovery platforms in the U.S., Europe, and Asia. Financial details of the three-year collaboration were not disclosed.

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