Latest News: Business
U.S. wholesale chemical trade grows; OECD leading indicator steady, ACC says
Wholesale trade in chemicals grew 1.4% in the U.S. in January, to $10.8 billion, while inventories fell 1.3% to $12.6 billion, according to the most recent Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).…
Novo Nordisk invests in new purification pilot plant in Denmark
Novo Nordisk A/S (Bagsværd, Denmark; www.novonordisk.com) is increasing its drug development capacity by investing 550 million Danish kroner ($100 million) in a new research and development facility in Bagsværd, Denmark. The purification plant will expand the company’s capacity to produce…
Kreisel strengthens its position in southern Germany
On February 15, 2014, Kreisel GmbH & Co. KG (Krauschwitz, Germany; www.kreisel.eu) took over the business of the insolvent Schäffer Verfahrenstechnik GmbH & Co. KG in Thierhaupten near Augsburg. The approximately 30 employees will retain their jobs in the newly…
Foster Wheeler awarded FEED contracts by S-OIL for residue-upgrading project
Foster Wheeler AG (Zug, Switzerland; www.fwc.com) says that subsidiaries of its Global Engineering and Construction Group have been awarded contracts by S-OIL Corporation for the front-end engineering design (FEED) for a residue upgrading project at S-OIL’s Onsan refinery in Ulsan,…
KBR awarded EPC contracts for Agrium’s nitrogen-operations Facility
KBR (Houston; www.kbr.com) says that Agrium awarded the company two engineering, procurement and construction (EPC) contracts for a new grassroots urea plant and to increase the ammonia capacity for Agrium’s Lone Star Project in Borger, Texas. Upon completion, this world-scale…
Evonik invests in innovative methionine source for shrimp
Evonik Industries AG (Essen, Germany; www.evonik.com) will build the world's first plant for the production of Aquavi Met-Met — a new source of methionine specially developed for shrimp and other crustaceans — in Antwerp, Belgium. Aquavi Met-Met is added to…
Foster Wheeler acquires MDM Engineering for $109 million
Foster Wheeler AG (Zug, Switzerland; www.fwc.com) has announced that an indirect wholly owned subsidiary has entered into a merger implementation agreement with MDM Engineering Group Ltd. to acquire all of the ordinary shares and options in issue of MDM Engineering…
Eastman strengthens films unit with acquisition of Commonwealth Laminating & Coating
Eastman Chemical Co. (Kingsport, Tenn.; www.eastman.com) has announced that it has entered into a definitive agreement to acquire Commonwealth Laminating & Coating, Inc. The company, which had 2013 sales revenue of approximately $100 million, is an independent manufacturer and global…
Praxair and Messer collaborate on acquisition and divestiture
Praxair, Inc. (Danbury, Conn.; www.praxair.com) has announced that it has strengthened its position in Italy through the acquisition of Messer Italia S.p.A’s liquid carbon dioxide, oxygen, nitrogen and argon and packaged gases businesses. The businesses will be fully integrated into…
Unilever acquires Chinese water-purification company Qinyuan
Unilever PLC (London; www.unilever.com) has acquired a majority stake in the Qinyuan Group, a leading Chinese water purification business for an undisclosed amount. Qinyuan generated sales approaching €140 million (c. 1.2 billion RMB) for the 12-month period ending 31 December…