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Business Roundup

March 27, 2017 | A version of this story appeared in Volume 95, Issue 13

Toray Industries will spend more than $320 million over five years to roughly double capacity for synthetic suede at its Italian subsidiary Alcantara. Toray owns 70% of Alcantara, which makes a fabric used mostly in car interiors. Mitsui & Co. owns the other 30%.

Huntsman Corp. will close the rest of its titanium dioxide facility in Calais, France, later this year. Part of the plant was shuttered in 2015. The new closure will eliminate 108 jobs and save $15 million annually.

Solvay will buy all the renewable energy certificates for 15 years from what it says will be South Carolina’s largest solar farm. To open by the end of the year, the Moffett Solar 1 farm will help Solvay cut the carbon intensity of its operations by 40% by 2025.

Lubrizol plans to increase its stake in its Indian subsidiary Lubrizol India to 74% from 50% currently. Co-owned by Indian Oil Corp., Lubrizol India makes lubricant and fuel additives.

Evolva, a Swiss biotech firm making flavor and fragrance chemicals, has secured funding of up to $30 million from private equity firm Yorkville Advisors Global. Separately, Evolva will use Paris-based FCI to market its citrus ingredients nootkatone and valencene.

BASF has inked a global licensing deal for CRISPR-Cas9 genome-editing technology from the Broad Institute of MIT & Harvard to improve products used in agriculture and industrial microbiology. BASF says CRISPR is faster and less expensive than other editing methods.

Thermo Fisher Scientific will locate a CryoHub facility adjacent to the Cell & Gene Therapy Catapult manufacturing center under construction in Stevenage, England. The facility will provide cryogenic storage, distribution, and logistics services.

Alexion Pharmaceuticals will pay $7.5 million for rights to use Arbutus Biopharma’s lipid nanoparticle technology to deliver a messenger RNA to a rare disease drug target. Arbutus says it continues to develop cures for hepatitis B virus while licensing out its drug delivery platform.



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