Volume 95 Issue 18 | p. 17 | Concentrates
Issue Date: May 1, 2017 | Web Date: June 27, 2017

Business Roundup

Department: Business

Lanxess has completed the acquisition of Chemtura in a deal valued at about $2.6 billion. Lanxess says the purchase will greatly expand its additives business as well as its footprint in North America.

BASF has agreed to buy Thermotek, Mexico’s largest supplier of waterproofing systems to the construction industry. Thermotek, which has 500 employees, makes resinous and dispersion materials as well as asphalt sheets for waterproofing roofs and walls.

Reliance Industries has completed upgrades that will allow its ethylene cracker in Dahej, India, to import cheap shale-based ethane from the U.S. The company also plans to use ethane at its plants in Hazira and Nagothane, India.

Lanxess will spend $27 million on efficiency improvements at a plant in Antwerp, Belgium, where the company makes nylon 6 and its precursor, caprolactam. Lanxess says it has put more than $300 million into the site since the company was founded as a spin-off from Bayer in 2004.

Wacker Chemie will expand production of isopropenyl acetate by 2,500 metric tons per year in Berghausen, Germany. The company uses the chemical to make acetylacetone, which has applications in the life sciences, construction, and the automotive markets.

Enamine, a producer of chemical building blocks and screening libraries, will work with the European Molecular Biology Laboratory to find small molecules that address EMBL’s anticancer targets. Enamine will provide library synthesis, medicinal chemistry, and biological services. EMBL will deploy a team of medicinal chemists at Enamine.

EpimAb Biotherapeutics has raised $25 million from Chinese and foreign investors. The Shanghai-based firm is developing immuno-oncology drug candidates that use its technology for generating molecules with antibody-like properties.

Arsanis, a biotech firm developing monoclonal antibodies for treatment of infectious disease, has raised $46 million in a series D round of financing. The investment was led by the Bill & Melinda Gates Foundation and included GV, formerly Google Ventures.

 
Chemical & Engineering News
ISSN 0009-2347
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