IMCD Takes India’s Tradeimpex
IMCD India has agreed to buy Tradeimpex Polymers (India), a distributor of high-performance polymers and engineering plastics. The transaction is expected to close during the second quarter of 2023.
News
Clariant Closes Sale of Land Oil Business to Dorf Ketal
Clariant closed on Apr. 3 the sale of its North American land oil business to Indian specialty chemicals manufacturer Dorf Ketal for $14.5 million. The Swiss group said the divestment is a further step to structurally improve its portfolio and sustainability profile.
Plaintiffs Reject newest J&J Talc Litigation Offer
Seeking to clear billions of dollars worth of litigation claiming that its iconic baby powder causes cancer, Johnson & Johnson has announced it is now prepared to offer a payout of $8.9 billion over 25 years to resolve all claims.
Ineos Completes Mitsui Phenols Singapore Acquisition
Ineos Phenol announces the completion of its acquisition of the entire asset base of Mitsui Phenols Singapore from Mitsui Chemicals, a leading Japanese chemicals manufacturer, for a total consideration of $330 million.
Kemira Reviews Options for Oil & Gas Business
Kemira’s board of directors has decided to evaluate strategic options for its oil & gas business, including a potential sale. The Helsinki-headquartered company is reported to have engaged international investment bank Stifel as advisor.
Germany’s Merck Ends Bavencio Pact with Pfizer
Germany’s Merck will regain exclusive worldwide rights to develop, manufacture and commercialize the anti-programmed death ligand-1 (PD-L1) antibody Bavencio (avelumab) following the termination of its Alliance agreement with US drugs giant Pfizer, planned for the end of the second quarter.
ExxonMobil Expands India Lubricants Plant
ExxonMobil has announced plans to invest nearly $110 million to build a lubricants production plant in India. The facility is expected to start operating by the end of 2025.
China’s Pharmaron Plans UK Gene Therapy Expansion
Pharmaron Beijing, a Chinese pharmaceutical R&D company, is planning to undertake a major expansion project at its site in Liverpool after receiving financial support from the UK government.
Lanxess-Advent Plastics JV Launched as Envalior
Under the name Envalior, German specialty chemicals producer Lanxess and private equity investor Advent International launched their new 40:60 joint venture for high performance engineering plastics at the beginning of the second quarter, after the deal cleared all regulatory hurdles earlier.
Wacker and CordenPharma in RNA Drugs Project
Together with Munich’s Ludwig Maximilian University (LMU) and the Humboldt University of Berlin (HU Berlin), German companies Wacker Chemie and CordenPharma International have launched a three-year project to accelerate the development of RNA-based drugs.
Steve Jones Appointed as Chief Financial Officer of Ingenza
Ingenza has appointed Steve Jones as chief financial officer (CFO), effective immediately.
Hasa Boosts Pool Chemicals with Orenda Buy
Hasa, a US producer and distributor of water treatment products, has acquired Orenda Technologies, a compatriot manufacturer of eco-friendly specialty pool chemicals. Financial terms of the deal were not disclosed.
GSK Agrees Exclusive License for Novel Antifungal
GSK is set to gain exclusive rights to first-in-class oral antifungal Brexafemme (ibrexafungerp) for treating vulvovaginal candidiasis (VVC) and recurrent VVC (RVVC) from US biotech Scynexis. The treatment is also currently undergoing Phase 3 clinical trials for invasive candidiasis (IS), a life-threatening fungal infection.
EU Plastics Sector Seeks Chemical Recycling Clarity
Industry associations representing EU plastics producers, processors and users have called on the European Commission to develop transparent parameters for chemically recycled products.
Agilyx and Ineos Advance Channahon PS Recycling Project
Agilyx and Ineos Styrolution are advancing work on their previously announced PS chemical recycling project in Channahon, Illinois, USA. They expect to complete engineering this year, providing the foundation for a final investment decision.
UK Health Records Underpin Vaxzevria Concerns
An analysis of British records for December 2020-May 2022 is said to show that young women aged 12-29 who received at least one dose of AstraZeneca’s Covid vaccine may have been more likely to die of a heart problem. However, the findings may not apply to the entire population.
ADNOC Explores Ammonia Opportunities in Germany
Abu Dhabi National Oil Company (ADNOC) has signed a Memorandum of Understanding (MoU) with the government of the German state of North Rhine-Westphalia and site services provider Currenta to explore the creation of a low-carbon ammonia supply chain.
Saudi Aramco in China Refinery Project
Saudi Arabia is on a path toward establishing a major presence in the Chinese market. Saudi Aramco, the world’s biggest oil producer, said it plans to start construction on a large refinery and petrochemicals complex in northeastern China sometime in April.
Takeda Plans New Plant for Plasma-derived Therapies
Japanese drugmaker Takeda plans to invest about $765 million to build a new manufacturing facility in Osaka for plasma-derived therapies (PDTs). The company said the sum is the largest-ever investment to expand capacity in Japan and the plant will also be the biggest of its kind in the country.
Big Pharma Undercuts California Generic Insulin Plan
Plans by major insulin producers Eli Lilly, NovoNordisk and Sanofi to drop their prices may be undercutting the US state of California’s state-backed generic insulin scheme.
Germany and Denmark to Cooperate on Hydrogen
Germany and Denmark have signed a joint Declaration of Intent to develop the European market for renewable hydrogen. The proposed collaboration extends to the construction of a land-based cross-border pipeline connecting northern Germany and western Denmark by 2028.
Air Liquide Builds Pilot Ammonia Cracking Plant
Air Liquide plans to build an ammonia cracking pilot plant in the Port of Antwerp, Belgium. The plant will be based on a novel process using Air Liquide’s proprietary technologies and is scheduled to start operating in 2024.
KBR Acquires Acetic Acid Technology
US multinational engineering group KBR has acquired an acetic acid technology called Acetica for an undisclosed sum. The carbonylation technology, which was owned and originally developed by Japan’s Chiyoda, uses methanol and carbon monoxide to produce acetic acid.
Indian Oil Plans Paradip Petrochemical Project
Indian Oil Corp has granted “stage-one” approval for establishing a petrochemical complex at Paradip, Odisha. The estimated cost for the project is $7.4 billion, making it the state-owned group’s largest-ever investment in a single location.
Bayer Plans to Scale Back Women’s Health R&D
Ahead of a change in leadership at the top after the upcoming annual general meeting, in interviews with news agencies Bayer is dropping hints in dribbles about future plans for its healthcare business.
Aramco and DHL Plan Saudi Logistics Hub
Saudi Aramco and DHL Supply Chain have signed an agreement to set up a new procurement and logistics hub in Saudi Arabia. The facility would be the first in the region to cater to customers in the industrial, energy, chemical and petrochemical sectors.
Cinven to Buy MBCC Admixture Assets from Sika
Private equity investor Cinven is acquiring MBCC Group’s admixture business from Swiss construction chemicals major Sika on the rebound. Earlier, the British Competition and Markets Authority (CMA) had turned thumbs down on plans to sell the business to Ineos, citing antitrust concerns.
J&J Fights to Save Lawsuit-dodging Runoff Company
After failing yet again this week to overturn a judgment rejecting its plans to roll into a separate company more than 38,000 lawsuits claiming that its talc-based baby powder causes cancer, US healthcare giant Johnson & Johnson said it intends to file for a stay of the opinion and take its case to the Supreme Court.
Mycotex Develops Innovative Production Process for Personalized Clothing Made from Mycelium
With an innovative new production process, the Dutch start-up Mycotex allows for personalized clothing made from mycelium. With this contribution to sustainable chemistry the start-up aims to create a completely new supply chain for the fashion industry, an alternative to weaving, cutting and sewing.
Manufacturing Partially Saturated Free Fatty Acids with Evonik Catalysts
In oleochemical production, partially saturated free fatty acids are an important alternative raw material to their fully saturated counterparts. Their manufacture can present unique challenges and opportunities. Evonik’s MONCAT catalysts provide the solution.
EPA Cranks up PFAS Regulation Plans
After years of little or no movement on regulation of per- and poly-fluorinated alkyl substances (PFAS), Europe and the US, separately, are now preparing legislation to contain them.
Flamma Invests $200 Million to Expand CDMO Capabilities
Italian CDMO Flamma Group intends to invest $200 million over the next three years to expand its capabilities to meet growing market demand.
Brenntag Buys Singapore’s Aik Moh Group
Brenntag has agreed to acquire Aik Moh Group, headquartered in Singapore and covering Southeast Asian markets for industrial chemicals. Financial terms of the transaction were not disclosed.
LyondellBasell Signs Long-term Solar Purchase Deals
Chemical producer LyondellBasell has signed five 15-year solar power purchase agreements (PPAs) with Spanish renewable energy producer Grenergy. The purchases cover the supply of energy from the La Cereal solar farm project in Spain, which is expected to be operational at the end of 2025.
Baxter Said to Eye Sale of Biopharma CMO Arm
Plans by US healthcare company Baxter International to shed its biopharma contract business as it streamlines operations after a poor 2022 earnings performance are gradually taking concrete shape.
