Following all approvals, German specialty chemicals producer Lanxess completed the sale of its organic leather chemicals business to TFL Ledertechnik on Jun. 1. The buyer is a global supplier of leather chemicals and a portfolio company of US private equity investor Black Diamond Capital Management.
US drugmaker Bristol Myers Squibb has signed an exclusive license agreement for Agenus’ proprietary bispecific antibody program AGEN1777, that blocks TIGIT and a second undisclosed target.
US chemical and specialty materials producer Eastman has announced plans to increase capacity of Naia filament yarn at its site in Barcelona, Spain. The company said the project will lift capacity by 30% by mid-2021 and more than 50% by the end of 2022, and will serve rapidly growing demand. Naia is a cellulosic fiber made from sustainably sourced wood.
BASF has wrapped up the sale of its Kankakee, Illinois production site for an undisclosed sum to an affiliate of US private equity group One Rock Capital Partners. The sale also includes the associated businesses of vegetable-oil-based raw material sterols and natural vitamin E, anionic surfactants and esters produced at the site, which are being rebranded as Kensing.
India’s Bharat Biotech, which specializes in infectious diseases, has announced it is adding new manufacturing capacity for its Covid-19 shot known as Covaxin, India’s first indigenous vaccine. The expansion will go on stream in this year’s fourth quarter at the Ankleshwar site operated by wholly owned subsidiary Chiron Behring Vaccines.
The World Health Organization (WHO) has validated the Sinovac-CoronaVac Covid-19 shot produced by Beijing-based Sinovac for emergency use, adding it to the growing list of already approved coronavirus vaccines. The others are made by Pfizer/BioNTech, AstraZeneca-SK Bio, Serum Institute of India, AstraZeneca EU, Janssen, Moderna and Sinopharm. The European Medicines Agency (EMA) is currently reviewing the Chinese shot.
Harke Pharma has expanded its distribution partnership through Eastern Europe with BOAI NKY, China’s largest PVP and PVPP manufacturer.
In the drive to reach growth objectives, or to maintain and enhance “critical mass”, mergers & acquisitions (M&A) has been a theme for the chemical distribution industry for years. The industry leaders (by size and geographic reach) were all built through a series of such transactions. The practice is further trickling down to the smaller and mid-sized company layer of the sector, and more distributors espouse external growth options.
French industrial gases group Air Liquide is partnering multinational investment bank Rothschild & Co and environmental NGO Solar Impulse Foundation (SIF) to launch a €200 million growth, buyout and late-stage venture investment fund. The move is part of Air Liquide’s ambition to be carbon neutral by 2050.
Abu Dhabi National Oil Company (ADNOC) has awarded design contracts for initial pre-front-end engineering and design (pre-FEED) work for a world-scale blue ammonia plant and six other chemicals projects at the Ta’ziz complex to UK contractor Wood.
The US Food and Drug Administration will allow the restart of CDMO Emergent BioSolutions’ still shuttered Bayview plant in Baltimore, Maryland, within the next few days, the newspaper Wall Street Journal (WSJ) has reported. The paper said it understands that contamination problems at the plant have been resolved.
Funds advised by New York investment group SK Capital Partners has bought Canadian coatings company Canlak and US-based Valentus Specialty Chemicals for an undisclosed sum.
Indo Rama Synthetics (India) Limited (IRSL), a subsidiary of global petrochemical producer and PET giant Indorama Ventures (IVL), plans to spend up to $82 million on upgrading equipment and adding capacity at its site in Nagpur, India. The investment foresees a new PET resin plant as well as additional balancing equipment and a large range of specialty yarns.
BASF and major German utility company RWE have signed a letter of intent to create a €4 billion, 2 gigawatt, wind farm at an undisclosed offshore location on the German North Sea coast by 2030. The chemical group, which will own 49% of the project to RWE’s 51%, will take four-fifths of the output, feeding energy mainly to its Ludwigshafen headquarters. The wind park is calculated to satisfy about a quarter of the site’s power needs.
US specialty chemicals producer Ashland has announced it will undertake a strategic review of its performance adhesives business, which could include a potential sale.
Belgian chemical company Solvay is investing an undisclosed sum in Invizius, a UK biotech start-up that is developing a proprietary anti-inflammatory solution for hemodialysis. The spin-out of Edinburgh University will use the funds to complete a First-in-Man safety study of its H-Guard Priming anti-inflammatory product, which is designed to address the side effects of dialysis and other extra-corporeal treatments.
Disappointed by San Francisco district judge Vince Chhabria’s decision to dismiss its proposed $2 billion plan to settle future claims that Monsanto’s flagship herbicide Roundup causes non-Hodgkin lymphoma, Bayer has said it may stop selling the glyphosate-based version on the US retail market.
German biotech CureVac’s protests against US export restrictions for ingredients it needs to make its Covid-19 vaccine CVnCoV seem to have borne fruit. News agency Reuters said the European Commission has persuaded Washington to temporarily waive some of the rules of the US Defense Production Act (DPA), which gives federal agencies the power to prioritize procurement orders related to national defense and to non-military crises.
The supervisory board of Poland’s PKN Orlen has given the green light for a major expansion of its olefins complex at Plock, estimated to cost 13.5 billion Polish zloty.
As it sheds more commodity-oriented products in its plastics portfolio, French specialty chemicals producer Arkema has announced plans to acquire Agiplast, an Italian compounder regarded as a leader in the regeneration of high performance polymers, in particular specialty polyamides and fluoropolymers. The deal is expected to close next month.
Plafco Fibertech, founded in 2017, was created as a spin-off from an EU-research project coordinated by Jukka Valkama, a professor at the Cooperative State University of Baden Wurttemberg in Karlsruhe, Germany.
LipoCoat is a biotech company specialized in ‘bio-inspired’ coatings that improve the safety, comfort, and performance of medical devices with a focus on health and nutrition.
US CDMO Charles River Laboratories has entered into an agreement to buy Vigene Biosciences, a compatriot gene therapy CDMO specializing in viral vectors. The acquisition is expected to close at the beginning of the third quarter of 2021. The purchase price is likely to be $292.5 million in cash, but the transaction also includes contingent additional payments of up to $57.5 million based on future performance.
AstraZeneca’s agreement to acquire Alexion Pharma for $39 billion, sealed in December 2020 and approved by the US Federal Trade Commission (FTC) in April 2021, may not be a done deal after all. The UK’s Competition and Markets Authority (CMA) announced on May 25 that it has launched an anti-competition investigation into the transaction.
In 2020, the weakness associated with global chemical supply chains was highlighted in a dramatic manner as Covid-19 was designated a global pandemic. As a result, small modular continuous flow plants are gaining attention as an appropriate solution to secure supply chains whilst ensuring safe, sustainable processes are implemented.
The chemical industry is at a crossroads: customer behavior and needs are changing, and chemical companies must rethink how they do business to meet shifting expectations.
Speciality chemicals and ingredients distributor IMCD has appointed Pilar Castellanos Pineda as Managing Director of IMCD Colombia effective May 25, 2021.
US plastics and rubber producer Trinseo has sold its synthetic rubber business based in Schkopau, Germany, to Poland’s Synthos for $491 million. The deal includes $449 million in cash and about $42 million in assumed pension liabilities. Synthos is hoping to conclude its acquisition toward the end of 2021, although Trinseo is expecting completion in 2022.
As the G20’s first global health summit convened virtually in Rome, Italy, on May 21, the leaders of 19 countries and the EU called for greater global cooperation to end the coronavirus crisis. Major Covid-19 vaccine manufacturers including Pfizer/BioNTech, Moderna and Johnson & Johnson pledged to make a total of 2.3 billion doses available to poor countries over the next 2 years. The commitments call for 1.3 billion doses to be delivered in 2021 and 1 billion in 2022.
DuPont Mobility & Materials said it plans to invest $5 million in capital and operating resources at its plants in Germany and Switzerland to increase capacity for its high-performance automotive adhesives.
Fernando J. Gómez, head of the Chemical and Advanced Materials Industry at the World Economic Forum (WEF), discusses the chemical-industry-related topics that are high on the WEF’s agenda.
Yiğitoğlu, the family-run Turkish chemical manufacturing, distribution and logistics services group that started commercial activities in 1956, has set out to expand its geographic footprint.
Medical technology company Becton, Dickinson (BD) has revealed plans to build a fourth manufacturing plant in Spain. Investment costs are put at €165 million. Construction is scheduled to start in late 2021, and the plant will start up in 2023.
US engineering and construction group KBR and US-based multinational Cummins, a manufacturer of engines, filtration and power generation products, have agreed a non-exclusive partnership on green ammonia.
A US federal appeals court has upheld a $25 million jury award for the plaintiff in one of three major court battles Bayer has fought and lost over claims linking Monsanto’s glyphosate-based Roundup herbicide to non-Hodgkin lymphoma.
