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Investment

Business Roundup

February 1, 2019 | A version of this story appeared in Volume 97, Issue 5

Daelim, the South Korean petrochemical maker, plans to build an 80,000 t per year polyisobutylene plant in Jubail, Saudi Arabia, by 2024. The plant will be downstream from a $5 billion petrochemical complex Saudi Aramco is developing with France’s Total.

Toray Industries has opened Automotive Center Europe in the suburbs of Munich. The company says that at the center, it will work on environmentally friendly materials for automobiles.

Sabic will introduce certified circular polymers to the market later this year. The polymers will be made from feedstock produced in a thermochemical recycling process run by the UK-based firm Plastic Energy.

Covestro is joining a four-year, $7 million project called PUReSmart, aimed at developing ways to recycle polyurethanes by converting them into building blocks for new products. Some nine companies and academic partners across six countries will participate in the project.

NutraFuels and Pressure BioSciences have launched a collaborative product-development program employing Pressure BioSciences’ nanoemulsions technology platform. The partners are targeting a range of products with enhanced emulsifiers for nutraceuticals and cosmetics markets.

Thermo Fisher Scientific has signed a definitive agreement to sell its anatomical pathology business to Japan’s PHC Holdings for $1.4 billion. The pathology business supplies microscope slides, consumables, and instruments and has $350 million in annual sales.

Emerald Kalama Chemical has added peach lactone to its line of aroma chemicals produced at its Widnes, England, facility. The sweet, fresh-fruit-smelling chemical, also known as gamma undecalactone, is used in fragrances; it also brings a creamy, peachy flavor and flavor-fixative capability to foods and beverages.

Merck KGaA has granted Vertex Pharmaceuticals a license to use two DNA-dependent protein kinase inhibitors for use in gene editing in six specific diseases. Vertex invented both compounds but licensed them to Merck in 2017.

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