30 April 2001 00:00 [Source: ICB Americas]JM Seals Pharm-Eco Buy
Johnson Matthey has completed its acquisition of contract researcher and manufacturer Pharm-Eco Laboratories Inc. for $9.9 million in cash plus the assumption of $37 million in net borrowings. Pharm-Eco, which had sales of $17 million in 2000, will continue to operate under its name but will now be known as a Johnson Matthey Company.DyStar to Close Plant
DyStar LP will close its Mount Holly, N.C., textile dye production facility later this year in response to weakening business conditions in the US textile market. Production will be transferred to a production site in Coventry, R.I., or imported from other DyStar units. Praxair Unveils Ammonia
Praxair Inc. has developed and commissioned a high flow bulk ammonia system with flow rates up to 3x higher than current semiconductor industry capabilities. This proprietary system uses heat control technology and system controls that deliver previously unachievable flow rates between 600 and 900 standard liters per minute.Bayer Awards Contract...
Bayer Corporation announced that Jacobs Engineering Group Inc. will provide full service design and procurement services for its $200 million pharmaceutical productions facility in Kansas City, Mo. Construction will begin in 2001 and should be completed in 2004....Ups PharmaNetics Stake
Bayer Corporation increased its equity ownership of diagnostics company PharmaNetics from 7 percent to 20 percent by purchasing 1,450,000 shares of newly issued common stock for $17.4 million. In addition to this purchase, the companies expanded the marketing and distribution rights of Bayer to distribute PharmaNetics' Theranostics diagnostics products.Elemica Offers ERP-to-ERP
Elemica announced that it will offer its Connected Solution ERP-to-ERP network to its 22 investors and to companies outside its investment base. Connected Solution uses the industry standard Chem XML 2.0 to support its management order process. "A single connection to Elemica will link our customers to hundreds and eventually thousands of companies, business units and customers linked to the Elemica network as buyers and sellers," says CEO Kent A. Dolby.Exall Buys Oltchim Stake
Exall Resources Ltd. of Canada has agreed to purchase a 53.26 percent stake worth $10 million of Romania's petrochemical complex Oltchim SA. Exall will also invest an additional $150 million in the company in the next three years.Rodel and Clariant Partner
Rodel Inc., a subsidiary of Rohm and Haas Company, has partnered with Clariant Corp. to distribute and market Clariant's new colloidal silica-based slurry. Developed by Clariant, Elexsol STS-2 will be used in CMP (chemical mechanical polishing) applications. Elexsol STS-2 will begin shipping at the end of the second quarter of 2001.
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