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Business Roundup

November 20, 2022 | A version of this story appeared in Volume 100, Issue 41


Venator has agreed to sell its iron oxide pigment business to Cathay Industries for $140 million. Hong Kong–based Cathay calls itself one of the world’s top three manufacturers of synthetic iron oxide.

Angus Chemical has acquired Expression Systems, a manufacturer of cell culture media for biologics production. Angus says the company complements its business in supplying tromethamine buffers used in bioprocessing.

Compass Minerals has signed a multiyear agreement to supply the battery maker LG Energy with lithium carbonate from its planned facility at Utah’s Great Salt Lake. The agreement includes 40% of Compass’s initial capacity of 11,000 metric tons per year.

Ascensus Specialties has acquired Strem Chemicals UK, the UK distributor of Ascensus catalysts, ligands, organometallics, and other products. Ascensus acquired Massachusett-based Strem Chemicals in 2021.

Låkril Technologies has raised $1.4 million from corn grower associations to continue developing corn-based acrylic acid, used in paints and diapers. The University of Minnesota spin-off hopes to replace petrochemical production methods.

CJ Biomaterials and NatureWorks will collaborate to develop biodegradable resins for flexible and rigid packaging and food service wear. The biobased materials would combine NatureWorks’ polylactic acid and CJ’s polyhydroxyalkanoate.

Bruker has agreed to acquire Neurescence, a provider of fiber-bundle imaging devices used in neuroimaging of animals. Bruker says the firm fits with its multiphoton and miniscope businesses.

IBM and Algorithmiq, a Helsinki-based quantum computing start-up, are partnering to explore the use of quantum chemistry simulations to solve complex problems in the life sciences. Algorithmiq will become part of IBM’s quantum network.



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