3M Co., St. Paul, MN, has announced that it will sell 34 acres of “underutilized” land and buildings on the east side of St. Paul that it has owned for decades. Under 3M’s plan, the specialty tape plant on the corner of Arcade St. and Reaney Ave. will be closed and its work moved to Knoxville, IA, and Springfield, MO, by mid-2007.
Arkema Inc., Paris, France, has announced 15% capacity increase for its High Content Ethylene – Vinyl Acetate (HC EVA) copolymer production plant at its Balan industrial facility. The capacity increase will come on-stream at the end of 2006 and will allow Arkema to pursue its development strategy in growth departments while consolidating its commercial rankings in Europe.
BASF, Ludwigshafen, Germany, andThe Dow Chemical Co., Midland, MI, have announced a decision to conduct a joint feasibility study for the construction of a state-of-the-art production plant for toluene diisocyanate (TDI) and precursors at one of their integrated sites in Europe. The plant would have an annual capacity of 300,000 metric tons and would be the world’s largest such facility ever built. The study will take into consideration such factors as location, best technology and infrastructure. Should the project prove viable, the facility would start operations in 2011.
Henkel, Irvine, CA, has announced the successful acquisition of Tainan, Taiwan-based Accurus Scientific Co. Ltd, a leading manufacturer of solder spheres and type 1 through type 7 solder powders.
Hercules, Wilmington, DE, has announced that its Paper Technologies and Ventures Group will become the exclusive distributor for Wisdom Adhesives products and services for the worldwide pulp and paper industry. Terms of the deal were not disclosed.
Imperial Chemical Industries PLC (ICI), London, England, has started construction on a $20 million emulsion polymerization facility in the Songjiang Industrial Development Zone of Shanghai, China. ICI currently has eight major facilities in China, manufacturing products such as decorative paints, adhesives, specialty starches and electronic materials for the China market and the Asia Pacific region.
International Paper, Memphis, TN, has signed two definitive agreements related to the sales of its beverage packaging and Arizona Chemical businesses for combined proceeds of approximately $985 million. The transactions are both subject to certain adjustments and conditions at closing, including receipt of regulatory approvals.
Momentive Performance Materials Inc., the new company created by the sale of GE’s Advanced Materials business to Apollo Management, L.P., will operate as one global entity focused on technology and service excellence in the silicone, quartz and ceramics industries. The acquisition, completed for $3.8 billion, adds another proven brand to Apollo’s strong portfolio of chemical businesses.
Nordson Corp., Westlake, OH, has announced its acquisition of Dage Holdings Ltd. Financial terms were not disclosed. UK-based Dage manufactures testing and inspection equipment used in semiconductors and printed circuit board assemblies. It employs more than 200 people and hand revenue of about $59 million during the 12-month period ending Oct. 31, 2006.
RPM International Inc., Medina, OH, has announced its acquisition of the daylight fluorescent, phosphorescent and thermochromatic pigments business of The Dane Group. Located in Manchester, England, The Dane Group has annual revenues of approximately $20 million. Terms were not disclosed.
Sika AG, Baar, Switzerland, has announced its acquisition of Proxan Dichtstoffe GmbH, Thuringia, Germany, a manufacturer of sealants for the production of insulated glass and for construction joints. Purchase price has not been disclosed.
Specialty Polymers, Inc., Woodburn, OR, has announced the opening of a new 48,000-sq. ft. warehouse complex at its Chester, SC, manufacturing facility. In addition to product staging and shipping of Specailty Polymers’ full line of products, the new complex includes offices and a fully equipped research and development laboratory.
Troy Corp., Florham Park, NJ, has announced a long-term agreement with Basel, Switzerland-based Syngenta Crop Protection AG for Syngenta to provide full regulatory support for the active substance terbutryn under the Biocide Products Directive of the European Union. This alliance allows Troy to continue to provide the EU marketplace with terbutryn, a proven algaeside that has consistently provided performance and value over many years.
Henkel, Düsseldorf, Germany, has announced thatUlrich Lehnerwill resign from the office of chairman of the Management board in April. Lehner has been with Henkel since 1981 and has served in his current position since May 2000.
Sartomer Co., Exton, PA, has announced the appointment ofAlan Papeto the position of business development manager, where he will be responsible for developing new business and markets for the specialty polymers division of Sartomer.Terry Quinnhas been promoted to regional sales manager of the company’s Midwest office and will report directly to Al Tuccio, vice president of sales.Chris Gebharthas been named technical sales representative of the Midwest region to replace Quinn, his direct report.
Dow Corning Paper & Process Industries group, Midland, MI, recently namedLucrèce De Ridderas its new global marketing manager for the company’s Pressure Sensitive Industry. De Ridder, who joined Dow Corning in 1996, previously served as a global marketing manager for the company’s Engineered Elastomers Industry (EEI) and was a member of the global industry leadership team.
Nuplex Resins, Louisville, KY, has announced the appointment ofKelly Smithto the position of business development manager, Waterborne Technologies and New Markets – The Americas. In his new role, Smith is responsible for developing new initiatives and partnerships within the scope of waterborne polymer technologies that find application in coatings, adhesives, sealants, inks, construction and textile markets.
Industry News (February 2007)
February 1, 2007