SK Capital Buys Canlak and Valentus Specialty Chemicals
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.
News
Indorama Group Adds PET Capacity in India
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 RWE to Build Wind Farm for Ludwigshafen
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.
Ashland Mulls Options for Performance Adhesives
US specialty chemicals producer Ashland has announced it will undertake a strategic review of its performance adhesives business, which could include a potential sale.
Solvay Invests in UK Biotech Startup
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.
Bayer May Remove Glyphosate from Retail Roundup
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.
CureVac Sees Relief from US Vaccine Ingredient Exports
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.
Poland’s Orlen Invests in New Olefins Complex
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.
Arkema to Acquire Plastics Compounder Agiplast
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.
Rethinking the Base Material Side
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.
Paving the Way for Sustainable Infection Control
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.
Charles River Acquires Vigene Biosciences
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.
UK Regulator Casts Doubt on AstraZeneca’s Alexion Buy
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.
Small, Modular Flow Plants
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.
How Chemical Companies Can Beat Customer Churn
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.
Pilar Castellanos Pineda Appointed as Managing Director of IMCD Colombia
Speciality chemicals and ingredients distributor IMCD has appointed Pilar Castellanos Pineda as Managing Director of IMCD Colombia effective May 25, 2021.
Trinseo Sells Synthetic Rubber to Synthos
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.
Global Health Summit Pledges to Share Vaccines
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 to Invest in European Adhesives Business
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.
Taking an Active Role in the Industry Transformation
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.
Solution Partner on the Road to Success
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.
Becton, Dickinson Builds Spanish Medical Devices Plant
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.
KBR and Cummins Cooperate on Green Ammonia
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.
Bayer Loses Roundup Judgment Appeal
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.
Global Bioenergies Scales up Bio-isobutene Process
French firm Global Bioenergies has announced major progress in scaling up its new two-stage isobutene bio-production process, which it has been developing over the past few months.
Arkema to Acquire Edge Adhesives Texas
French specialty chemicals producer Arkema said it plans to acquire Edge Adhesives Texas, as “a complementary asset” that will boost subsidiary Bostik’s offerings in high performance adhesives in the US. Financial terms were not disclosed.
G 20 Poised to Reject Covid Vaccine Patent Waiver
The G 20 global health summit to be held in Rome, Italy, on May 21 is expected to commit to fund the distribution of Covid-19 vaccines and drugs to poorer countries, in an effort to make prevention and treatment of the coronavirus accessible for poorer nations. Press reports said, however, the original language of the commitment had been watered down from a more ambitious plan to commit to “fair and full financing.”
IMCD Buys Siliconas y Quimicos and Andes Chemical
Dutch specialty chemicals and ingredients distributor IMCD has announced two acquisitions that boost its presence in the Latin American market.
Ginkgo Bioworks to Acquire Dutch DNA Biotech
US biotech Ginkgo Bioworks has entered into an agreement to buy Dutch DNA Biotech. Ginkgo said the move will expand its operations internationally for the first time. Financial terms of the deal, which is expected to close in July, were not disclosed.
US to Export 20 Million More Covid Vaccine Doses
US president Joe Biden announced this week that his administration will send an additional 20 million Covid-19 vaccine doses abroad by the end of June, this time including some approved for use in the US.
Novasep Expands HPAPI Capabilities at Le Mans
French CDMO Novasep is expanding its manufacturing capabilities for highly potent active pharmaceutical ingredients (HPAPIs) at its Le Mans site. The investment of more than €4 million will also create 30 new jobs at the site. It did not say when the expanded capabilities would be available.
Solvay to Build Solar Power Plant in China
As a step toward meeting the targets of its One Planet roadmap and at the same time contribute to China’s carbon neutrality goals, Solvay has reached agreement with Engie China to build its first solar power plant at its Zhenjiang site. The facility due to start up in April 2022 will have solar power capacity of 891 kw and is expected to cut emissions by 550 t of CO2 equivalent annually.
Sanofi and GSK to Launch Phase 3 Vaccine Trial
After seeing encouraging results with their adjuvanted recombinant Covid-19 vaccine candidate across all adult age groups in a recently completed Phase 2 trial, Sanofi and GlaxoSmithKline (GSK) are preparing to launch a global Phase 3 randomized double-blind study “in the coming weeks.”
Barentz Expands in Latin America with Argentina Base
Dutch life science ingredients distributor Barentz has opened an office in Buenos Aires, Argentina, expanding its coverage in Latin America. The move coincides with the appointment of subsidiary Barentz Argentina as a strategic partner of Roquette Freres for all of its human nutrition and pharmaceutical ingredients business in the country.
Ercros Invests in Tarragona as Part of 3D Plan
Ercros has announced plans to invest €40.4 million at its Tarragona site as part of its 3D strategic plan. The company added, however, that the sum could exceed €65 million, if other investments that are underway or pending authorization are included.
