LyondellBasell has agreed to pay $2 billion for a 50% stake in Sasol’s glitch-plagued production complex in Lake Charles, Louisiana, USA, The deal, scheduled to close at year’s end, includes joint ownership of the site’s new ethane cracker and downstream plastics production.
Swiss drugmaker Roche has acquired Irish biotech Inflazome for €380 million, said to be one of the largest deals in Irish biotech history. Headquartered in Dublin, Inflazome regards itself as a leader in the development of inflammasome inhibitors.
Swiss CDMO Siegfried has signed a binding agreement with compatriot Novartis to acquire two pharmaceutical manufacturing sites in Spain. The Zofingen-based group said the buy will “significantly enhance” its global production network in terms of capacity and technological capabilities and will allow it to reach a critical size in finished dosage forms, thus creating further potential for profitable growth.
LyondellBasell has pledged to produce and market 2 million t/y of recycled and renewable-based polymers by 2030 as part of a range of new sustainability targets.
In a major move portfolio move, German engineering plastics producer Covestro is taking over DSM’s coating resins business for €1.6 billion, including debt. The transaction is expected to close in the first quarter of 2021, following all approvals.
Paints and coatings group AkzoNobel is investing €20 million to expand capacity for automotive powder coatings at its site in Como, Italy. The company said the project will strengthen its market position and sharpen its focus on greener manufacturing.
Resurrecting plans from nine years ago, National Petrochemical (Petrochem) and Saudi Industrial Investment Group (SIIG) have initiated discussions about the economic feasibility of a merger.
BASF completed the sale of its construction chemicals business to an affiliate of private equity investor Lone Star on the last day of September and the 2020 third quarter. Selling price was €3.17 billion.
Hexion has agreed to sell its phenolic specialty resin, hexamine and European-based forest products resins businesses to private equity investors Investindustrial and Black Diamond Capital Management for approximately $425 million.
French drugmaker Sanofi has completed its acquisition of US-based Principia Biopharma for $100 per share in cash. The takeover worth altogether $3.7 billion was sealed following expiration of the tender offer for all of Principia’s shares on Sept. 25.
The US Court of Appeals for the Federal Circuit on Sept. 28 set aside a decision of the US district court of New Jersey in Newark, reversing the district court’s earlier decision in favor of Biogen in a damages claim against Germany’s Merck Serono (known as EMD Serono in North America).
German family owned industrial gases group Messer has announced plans to invest more than €35 million in a new plant in Vilaseca, Spain, which it said will lay down the foundation for further growth in Western Europe.
WeylChem has appointed Johannes Kanellakopoulos as new Head of Marketing & Sales for its growing Custom Manufacturing business. He took over the role on Sept. 1 with the aim of fully exploiting the group's capabilities.
Only a few weeks ago, the race to bring Covid-19 vaccines was in high gear. Now some think the pace should be slower, amid AstraZeneca’s much commentated adverse event during its UK Phase 3 trial and US president Donald Trump’s haste to have a vaccine ready for deployment before the Nov.3 US elections.
Following an analysis of its internal structures and processes earlier this year, Brenntag will establish a new operating model with effect from January 2021, launching two global divisions – Brenntag Essentials and Brenntag Specialties.
Solvay has announced it will reshuffle its hydrogen peroxide manufacturing network in Europe, the Middle East and Africa (EMEA) to meet a shift in demand, which has been accelerated by the coronavirus pandemic.
French industrial gases group Air Liquide is spending about €60 million to build an air separation unit (ASU) in the Lingang Economic District, Tianjin Port Free Trade Zone, China. Air Liquide said it has been supplying industrial gases to this major industrial basin for more than 25 years and already operates seven production facilities there.
Japanese engineering plastics specialist Polyplastics has announced plans to build a cyclic olefin copolymer (COC) production plant in Leuna, Germany, to meet growing global demand for its Topas COC polymers.
US president Donald Trump has said he believes the White House could override the US Food and Drug Administration (FDA) if the national health watchdog goes ahead with mooted plans to toughen standards for approval of a Covid-19 vaccine or an Emergency Use Authorization.
Both the Sanofi/GlaxoSmithKline partnership and US vaccine producer Moderna this week announced new advance purchase agreements with Canada for their Covid-19 vaccine candidates.
Olefins and polyolfins giant Ineos has signed an agreement to buy electricity from Belgian utility Engie’s Norther offshore wind farm in Belgium over a 10-year period. The contract is the largest ever-purchase contract of wind energy for heavy industry in Belgium, the Swiss-headquartered group said.
Evonik and Siemens Energy have commissioned a pilot plant that uses carbon dioxide (CO2) and water to produce chemicals. The plant is the culmination of two years’ work under the Rheticus I and II research projects to develop a technically feasible foundation for artificial photosynthesis using a bioreactor and electrolyzers.
Global chemical company Solvay and specialty chemicals distributor Oqema have entered into a distribution partnership for phenol and phenol derivatives. The partnership covers Solvay’s products hydroquinone, methylhydroquinone, TBC and PTZ for the monomers market, alongside other phenol derivatives for the agrochemicals and pharma markets.
In its third purchase so far this month, IMCD has bought Kokko-Fiber, a Finnish supplier of fiber-reinforced plastic (FRP) composite materials. Financial details of the transaction were not disclosed. Earlier this month, IMCD also purchased Siyeza in South Africa and Indian excipients distributor Signet.
Amid worries in the American public that an unsafe vaccine could be approved by the US Food and Drug Administration just in time for the Nov. 3 election, the FDA reportedly will impose new, tougher, standards for an emergency authorization (EUA) of a coronavirus vaccine.
OQ Chemicals – formerly Oxea – has agreed to license its proprietary technology for the production of ethylene and propylene derivatives to Oman’s Duqm Refinery and Petrochemicals Industries Company (DRPIC).
Clariant has announced it will build a new catalyst plant in China, its third in the country, as the Swiss group strives to strengthen its existing network.
Sanofi and GSK have agreed a deal with the EU to supply up to 300 million doses of their recombinant protein-based Covd-19 vaccine pending regulatory approval, which is expected sometime in the first half of 2021.
German biotech BioNTech has signed a share purchase agreement with Novartis to acquire the Swiss drugmaker’s GMP-certified manufacturing facility in Marburg, Germany. The deal will expand the Mainz-based company’s Covid-19 vaccine production capability by up to 750 million doses per year, or over 60 million doses per month, when fully operational.
Mylan has agreed to buy the related intellectual property and commercialization rights of Aspen Pharmacare’s European thrombosis business for €641.9 million. The company will use proceeds from the sale to pay down debt.
Petronas Chemicals Group is to acquire 50% of Germany-based PCC’s share in PCC Oxyalkylates Malaysia, thereby entering the growing oxyalkylates market. The companies will build a plant at the Kerteh Integrated Petrochemical Complex in Terengganu. Start-up is due in 2023.
After a roller coaster ride entailing months of on again-off again negotiations with US president Donald Trump over drug prices, the country’s pharmaceutical industry is licking its wounds and gearing up for a fight.
Brazilian petrochemical group Braskem has started up a 450,000 t/y PP plant in LaPorte, Texas, USA. The facility, named Delta, produces a variety of grades, including homopolymers, impact copolymers and random copolymers.
A three-judge federal panel has temporarily blocked a US Environmental Protection Agency (EPA) move aimed at reversing the stricter standards for methane emissions in the oil and gas sector passed by the administration of US president Barack Obama. The ruling will temporarily halt the rollback while the court deliberates on whether it can go ahead.
In line with its geographical expansion strategy, French specialty chemicals producer Arkema’s adhesive solutions segment Bostik has started up a new world-scale industrial adhesives plant in Japan to supply customers in the region’s steadily growing markets.
