30 August 1999 00:00 [Source: ICB Americas]The Geon Company says that shareholders of O'Sullivan Corporation have approved a resolution authorizing a merger with Geon. On June 2, 1999, Geon announced an agreement to acquire O'Sullivan, a leading producer of engineered polymer films for automotive and industrial markets.
Lilly to Expand Drug Sales
Takeda Chemical Industries Ltd. has licensed Eli Lilly & Co. to sell the diabetes drug Actos in more than 70 countries throughout Europe, the Middle East, Africa and Asia-Pacific. Lilly already markets the Takeda-developed drug in the US, where sales began on August 2.
Glaxo to Sell Facility
Glaxo Wellcome PLC has agreed to sell its biopharmaceutical facility at West Greenwich, R.I., to American Home Products Corporation for $60 million. Glaxo plans to stop making, supplying or selling Wellferon, used in the treatment of chronic hepatitis B and C and certain cancers. Wellferon is produced primarily at the Rhode Island facility and at Porrino, Spain.
Kerr-McGee High Bidder
Kerr-McGee Oil & Gas Corporation, a wholly owned subsidiary of Kerr-McGee Corporation, and its partners were the high bidders on 36 deepwater blocks in the Western Gulf of Mexico, lease sale 174. The company's net total exposure for all high bids was $33.2 million. The bids are subject to approval by the US Department of Interior's Minerals Management Service.
Dow License From Zeneca
Dow Chemical Company has entered into an agreement with Zeneca Resins BV under which Dow will license technology for producing solvent-soluble polyvinylidene (PVDC) resins for coating cellophane and other films.
Lawyers representing dozens of families who lost relatives in last year's Swissair plane crash have filed a $3 billion lawsuit against E. I. du Pont de Nemours & Co. The suit names Du-Pont as the manufacturers of metalized Mylar insulation used in the airplane. The US Federal Aviation Administration issued a directive saying that the insulation, found in the plane's bulkheads, should be removed.
Eskimo Pie Sells Flavors
Eskimo Pie Corporation has signed a non-binding letter of intent to sell the assets of its flavor division to Guernsey Bel Inc. for $9.5 million. The company expects to close the deal within 30 days. Eskimo Pie will also enter into a long-term supply agreement with Guernsey Bel to buy chocolate coatings, dairy powders and other flavoring ingredients produced at its New Berlin, Wis., plant.
Brenntag Named Distributor
Brenntag Inc. has announced the appointment of a subsidiary company, Delta Distributors Inc. of Longview, Tex., as a distributor for food additives made by Archer Daniels Midland Corporation's food additives division.
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