Corteva Takes Control of PhytoGen Seed
Corteva Agriscience has agreed to take over J.G. Bosell’s stake in their joint-venture company PhytoGen Seed Co. Financial terms of the deal were not disclosed.
News
Ineos May Move Grenadier Build to France
Ineos has announced it may build its 4x4 off-roader in France, suspending existing plans to build it in Wales and Portugal. The Swiss-headquartered group is now in talks with Mercedes-Benz about acquiring the major German carmaker’s site at Hambach, France, describing the site in was “ideally suited” to the Grenadier.
Petrobras to Set Stage for Braskem Exit this Year
Brazilian national oil group Petroleo Brasileiro (Petrobras) is reportedly within six months of reaching a consensus with construction group Odebrecht on a new shareholder agreement for petrochemicals producer Braskem.
Japanese JV Invests in Anellotech Process
A newly formed Japanese joint-venture company is investing in Anellotech’s Plas-TCat plastics recycling process, with the aim of commercializing the technology by 2027.R Plus Japan was established last month by 12 cross-industry partners within the Japanese plastics supply chain.
Novartis Settles US Fines Topping $1 Billion
Novartis has finally wrapped up a suite of bribery-related lawsuits in the US, paying well over $1 billion to settle two long running multifaceted cases within a week.
CureVac Gets €75 Million EIB Loan
The European Investment Bank (EIB) has granted German biotech CureVac a €75 million loan to support its ongoing development of vaccines against infectious diseases, including its Covid-19 candidate CVnCoV.
American Chemistry Remains in Demand
As the American Chemistry Council (ACC) publishes its 2020 Guide to the Business of Chemistry, the world is coping with a global pandemic and the worst economic downturn in nearly a century.
Bow Persistent Joins Odfjell Fleet
The newly built chemical tanker Bow Persistent has entered Odfjell’s 80-ship fleet, joining sister ship Bow Prosper in the Norwegian group’s round-the-world trade. Built at the Fukuoka shipyard in Nagasaki, Japan, the 36,000 dwt vessel comprises 28 stainless steel tanks.
Eni and NextChem Plan Circular Gas Plant
Italian energy group Eni and compatriot NextChem, the green chemistry division of contractor Maire Tecnimont, have expanded their partnership to include building a circular gas plant in Taranto, Italy, adding to projects for waste-to-hydrogen and waste-to-methanol plants.
Chatterjee and Rhone Capital Close Lummus Buy
Haldia Petrochemicals, part of The Chatterjee Group (TCG), and investment funds affiliated with Rhone Capital have completed their joint acquisition of Lummus from major engineering and construction group McDermott International as of Jun. 30.
Mylan Invests Again in Mapi’s MS Therapy
US generics specialist Mylan is investing an additional $20 million in Mapi Pharma to support the latter’s ongoing Phase 3 clinical study and eventual commercialization of Glatiramer Acetate (GA) Depot for treating patients with relapsing-remitting multiple sclerosis (RRMS) in the US.
Catalent Supports Moderna on Covid-19 Vaccine
US-based CDMO Catalent has agreed a collaboration with US biotech Moderna for large-scale, commercial fill-finish manufacturing of Moderna’s mRNA-based COVID-19 vaccine candidate (mRNA-1273) at Catalent’s biologics facility in Bloomington, Indiana, USA.
Borealis and Partners in Austrian CO2 Project
Borealis, OMV, electricity group Verbund and cement company Lafarge Zementwerke have signed a Memorandum of Understanding to plan and construct a full-scale carbon capture plant in Austria. The captured CO2 would be used to make synthetic fuels, chemicals or plastics.
Bayer Agrees $9 Billion Roundup Settlement
After nearly a year of deliberation, Bayer has clinched a deal to settle three-quarters of its outstanding lawsuits from US plaintiffs who claim that Monsanto’s top-selling herbicide Roundup with the active ingredient glyphosate caused their non-Hodgkins lymphoma (NHL).
Top Management Changes at Ineos Styrolution
Steve Harrington, currently president Global Styrene Monomer and Asia-Pacific at Ineos Styrolution, has been appointed as the Germany-based styrenics manufacturer’s new CEO, succeeding Kevin McQuade, who has been named chairman of the company’s supervisory board.
Bayer Halts Work on US Dicamba Facility
Bayer has halted work on a $1 billion production facility for the herbicide active ingredient dicamba in the US state of Louisana but said the decision was not related to a court order mandating that the Environmental Protection Agency (EPA) vacate its approval of the crop protectant active ingredient.
Kurt Bock new BASF Supervisory Board Chair
Kurt Bock has been elected as new chairman of the BASF supervisory Board, succeeding Jürgen Hambrecht. His term will run until the end of the annual shareholders’ meeting in 2024.
TechnipFMC Joins Clariant on ACN Catalyst
Major construction and engineering group TechnipFMC has entered into a joint development agreement with Clariant Catalysts to commercialize the Swiss company’s new AcryloMax propylene ammoxidation catalyst to produce fiber intermediate acrylonitrile (ACN).
Syngenta Group Launches
Syngenta Group was officially launched on Jun. 18. Swiss-based and Chinese-owned, the group consists of four business units: Syngenta Crop Protection headquartered in Switzerland; Syngenta Seeds headquartered in the US; Adama headquartered in Israel; and Syngenta Group China.
Air Products Geismar Facilities on Stream
Air Products’ new steam methane reformer (SMR) and cold box have gone on stream at the Huntsman site in Geismar, Louisiana, USA. The US gases group built, owns and operates the facility under a long-term agreement, supplying carbon monoxide (CO), hydrogen and steam.
Steilemann new President of PlasticsEurope
Markus Steilemann, CEO of German engineering plastics producer Covestro, has been appointed to a three-year term as president of PlasticsEurope, the association of plastics manufacturers in Europe.
US Nabs Bulk of World Remdesivir Supply
As the global coronavirus pandemic shows no signs of abating, the US “America first” approach to preventing and treating Covid-19 has again provoked worldwide concern.
Novozymes Boosts Gut Health with PrecisionBiotics
Danish biotech Novozymes has acquired Ireland’s PrecisionBiotics Group for €80 million on a cash and debt-free basis.
Agilyx in Styrene Partnership with TechnipFMC
Agilyx has entered into an exclusive collaboration with engineering contractor TechnipFMC to jointly develop a process to purify Agilyx’s styrene oil to high-purity styrene.
Sanofi and Translate Bio Expand Collaboration
Sanofi Pasteur, the vaccines global business unit of French drugmaker Sanofi, and Translate Bio, a clinical-stage messenger RNA (mRNA) therapeutics company, are formally expanding their existing 2018 collaboration and license agreement to develop mRNA vaccines for infectious diseases.
Ineos to Buy BP’s Petchems Business for $5 Billion
Ineos is buying BP’s global petrochemicals business for $5 billion (£4 billion) in what is being touted as the biggest deal since the coronavirus pandemic began circling the globe in winter and early spring this year.
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BASF Pilots PU Mattress Recycling
BASF is starting pilot tests on a chemical recycling process for used PU mattresses at its Schwarzheide site in the German state of Brandenburg.
BioNTech Raises $250 Million for Vaccine Race
German biotech BioNTech, which is working on developing an mRNA vaccine against Covid-19 and has aligned itself with US pharma major Pfizer, this week raised $250 million (€223 million) in an offering that attracted Singapore state-owned private equity investor Temasek and other unnamed accredited investors.
