M&A 2005

Source: ECN

2005/11/28

NOTES ON USING THE LISTING

ECN’s annual listing sets out all the takeovers, spin-offs, mergers and initial public offerings in the chemical sector as reported in the magazine over the last 12 months.

The period of coverage extends from mid-November 2004 to mid-November this year, giving a full 12 months of events. Only those deals in which there is some European involvement, either on the buying or selling side, have been included.

The companies are listed alphabetically, giving the acquiring firm first and the targeted company second. Generally, the location given is the country in which the company’s group headquarters are to be found. Values of deals have been included wherever this has been disclosed.

 

M&A LISTING 2005 Company buying/Acquired Location Business Stake Cost Access Industries & Basell US/Netherlands Shell Chemicals/BASF polyolefins jv €4.4bn acq €4.4bn Actavis/Amide Pharmaceutical Iceland/US generics producer acq $500-$600m Actavis/Lotus Laboratories Iceland/India contract research company acq €20m Adcuram Industriekapital/SGL Acotec Germany/Germany surface production business of SGL Carbon acq Advansa/Cobafi (Companhia Bahiana de Fibras) Turkey/Brazil Diolen Industrial Fibers’ polyester industrial yarn and tyre cord fabric operations acq Advent International/Dufa UK/Romania dye and paint maker business acq €18m Air Liquide/Qatar Petroleum & Qatar Nitrogen France/UAE oxygen & nitrogen jv 40:60 jv Air Liquide/Severstall France/Russia ALS air separation jv 75:25 jv €100m Akzo Nobel/Coatech Netherlands/Eygpt powder coatings acq 60% stake Akzo Nobel/Zweihorn Netherlands/Germany ICI’s Hilden industrial wood finishes business acq Altanta Chemie/Eckart Germany/Germany speciality chemicals - pigments/inks acq €6.30m Altana Chemie/Kelstar International Germany/US producer of water based & UV curable overprint coatings for the paper and board packaging sector acq Amec/PK SAS UK/France electrical engineering acq Antisoma/Aptamera UK/US cancer specialist - AGRO100 acq Apria Healthcare/Air Liquide Healthcare America US/France homecare division of Air Liquide acq Azelis UK/Brown & Gillmer UK/Ireland animal nutrition sales, marketing and distribution acq Azelis/Broste Italy /Denmark chemical distributor acq Basell/Ineos Silicas Germany/UK high pore-volume chromium catalyst acq Basell/Sahara Petrochemicals Germany/Saudi Arabia polypropylene plant & propane dehydrogenation unit in Saudi Arabia jv BASF/Akzo Nobel Germany/Netherlands Australian coatings business for the automotive industry to 100% BASF/Leuna/Miramid Germany/Germany engineering plastics producer acq BASF/Merck KGaA Germany/Germany global electronic chemicals business acq €270m BASF/NOF Corporation Germany/Japan coatings business to 100% BASF/Orgamol Germany/Switzerland fine chemicals acq BASF/Rhenania Coatings Germany/Germany Altana Group’s coil coatings business acq Bayer Technology Services/Zeptosens Germany/Germany biochip business acq BorsodChem/Petrochemia Blachownia Hungary/Poland high-purity ethylbenzene (EB) maker acq BP/Nova Chemicals UK/Canada Nova Innovene polystrene jv in Europe jv BP/Sinopec & YPC UK/China acetic acid plant 50:50 jv Company buying/Acquired Location Business Stake Cost Brenntag/Quadra Chemicals Germany/US chemical distributor acq Cargill/Degussa US/Germany food ingredients business acq €540m Celanese/Vinamul US/UK ICI sells US, Canadian & European Vinamul business acq €159m Cerberus and Ampersand/Bayer US/Germany blood products acq $590m China National Chemical Corporation/Drakkar Holdings China/Belgium parent company of animal nutrition firm Adisseo acq Ciba Specialty Chemicals/Wolstenholme International Switzerland/UK Metasheen business acq €29.2m Clarksons/JO Plowright UK/UK shipping services acq £10m Codexis/Julich Fine Chemicals US/Germany biocatalysts & chiral building blocks acq Cognis/Eternal Chemical Germany/Taiwan energy cure products - Eternal Specialty Chemicals (Zhuhai) jv Copperhead Chemical/Avecia US/UK Avecia’s special drug mixtures business acq Cray Valley & Sartomer/Goodyear France & US/US hydrocarbon resins business acq $65m CVC Capital Partners/Wavin UK/Netherlands plastics pipes acq Cytec Industries/UCB US/Belgium UCB’s surface specialities business acq $1.4bn Daicel Chemicals Industries & Polyplastics/Ticona Japan/Germany Ticona’s cycloolefin copolymer (COC) business acq 55:45jv Daniel Mills & Sons/DSM South Africa/Netherlands DSM sells stake in South African yeast products maker Rymco 50%-100% €39m Danisco/Genencor Denmark/US Eastman Chemical sells stake in biotech jv 42% $419m Degussa Specialty Polymers/Cyro Industries Germany/US Cytec Industries share 50%-100% $95m Degussa/Dongdian No 4 Company Germany/China UV stabiliser business 70:30 jv Degussa/Modern Betongteknologi Germany/Sweden concrete admixtures acq Degussa/Ticona Germany/Germany know-how & patents for PAEK patents acq Degussa/Jilin University Germany/China polyetheretherketone (PEEK) production 80:20 jv Delft Instruments/Lubrizol Performance Systems (Enraf Fluid Technology) Netherlands/US US & UK assets acq Dow Corning/Wacker-Chemie US/Germany silicone intermediates and fumed silica production jv DSM Pharmaceutical Products/Societe generale de financement de Quebec Netherlands/Canada DSM Biologics Holdings to 100% DSM/NeoResins Netherlands/UK Avecia - coating resins acq €515m DuPont Filaments Europe/Pedex US/Germany brush filament business acq DuPont/Isceon US/France Rhodia’s refrigderant blends business acq Dynamic Specialties/Group Novasep Germany/France purification and process technologies merger DyStar/Rotta Group Germany/Germany chemical auxiliaries for textile, leather & paper applications acq Elastogran/Witcothane Germany/US Chemtura’s PU systems business acq Ercros/Uralita Spain/Spain chemicals division acq €180m Fenner/Wellington Holdings UK/UK polymer seals acq €65.5m Ferd Priviate Equity Fund/Pronova Biocare Norway/Norway Norsk Hydro’s remaining 19.5% share acq €32.9m Finnplast/Dynea Chemicals Switzerland/Finland PVC plant in Porvoo acq Firmenich/Noville Switzerland/US perfume and flavours marker acq Gilde/Clariant Netherlands/Germany acetyl building block business acq €48m Grace AB/Perstorp Sweden/Sweden concrete admixtures business acq Gulf Bayport Chemicals/Lonza US/Switzerland Pasadena, US, site acq H&R Wasag/ExxonMobil Germany/US Australian speciality business acq Hanover Investors/Elementis Germany/UK speciality chemicals acq 11% stake Helm/Saudi International Petrochemical Co (Sipchem) Germany/Saudi Arabia acetyls complex jv 25:75 jv Henkel/Huawei Electronics Germany/China majority stake in epoxy moulding compounds producer acq Henkel/Polybit Industries Germany/UAE waterproofing materials acq 49% stake Henkel/Rhodia Germany/France silicone sealants business acq Hidafa/Sniace Mexico/Spain investment firm buys shares in chemicals company acq 10% stake Hoyer/Hoyer-Odfjell Germany/Norway tankcontainers 50% to 100% Humber Group/Acordis UK/UK carbon fibre production facility at Grimsby acq ICI/Elotex UK/Germany Celanese’s emulsion powders business acq €37.7m Imerys/Denain-Anzin Mineraux France/France stake in Nord Est’s minerals subsidiary acq 99.7% €55.7m Industri Kapital & MB Funds/CPS Color Group Switzerland/Finland Kemira sells remaining stake 27% to 100% Company buying/Acquired Location Business Stake Cost Ineos Chlor/Rhodia UK/France UK chlor-alkali and sulphuric acid business acq Ineos Group Holdings/Innovene UK/UK BP’s olefins, derivatives & refining subsidiary acq $9bn Ineos Group/BASF UK/Germany polystyrene plant at Joliet, Illinois, US, plus operations in Canada acq Ineos/Cytec Industries UK/US surface specialties amino resins (SSAR) business acq $78m Ineos/EVC UK/Netherlands PVC producer to 100% Ineos Eneterprises/Salt Union UK/UK vacuum salt business in Cheshire, UK acq Ineos/Solvay UK/Belgium rigid plastic foils business acq International Chemicals Investors/Enka Germany/Germany Acordis’ viscose filament company acq International Chemical Investors/Rutgers Germany/Germany five specialty and fine chemicals businesses acq Interquisa/Nemuno Banga Group (NBG) Spain/Lithuania jv to build a terephthalic acid (PTA) plant in Lithuania jv Investors/Kemira GrowHow Finland/Finland Kemira’s remaining stake in fertiliser company 14.60% €50.1m IP2IPO/Techtran Group UK/UK commercialising university technology 80% to 100% IPIC/OMV UAE/Germany Agrolinz Melamine International 50% stake €241m IPIC/Borealis UAE/Denmark Statoil sells stake 25% to 65% KemFine/Avecia Fine Chemicals Finland/UK fine chemicals acq Kemira/Finnish Chemicals Finland/Finland chemicals supplier acq Kemira/Kemiron Finland/US water treatment business 60% to 100% Kemira/Verdugt Finland/Netherlands CVC Capital Partners’ speciality chemicals company acq €148m Koc Holding & Consortium/Tupras Turkey/Turkey refinery acq 51% $4.14bn Kuraray/Trosifol Japan/Germany Rutgers polyvinyl butyral film unit acq Lanxess/Xinda & Anhui Germany/China production of antioxidants for tyres and rubber jv Lenzing/Nanjing Chemical Fibre Company (NCFC) Germany/China viscose staple fibres plant in China 70:30 jv Lonza/Bio*One Capital Italy/Singapore jv to build a biopharmaceuticals manufacturing plant in Singapore jv Macquarie Bank/Dyno Nobel Australia/Norway commercial explosives acq $1.7bn Maire Group/Tecnimont Italy/Italy Edison sells 80.5% of engineering contractor acq €180m MBO/Tikkurila Coatings Finland/Finland coatings business acq Merck Genericos SL/Prasfarma Spain/Spain Almirall Prodesfarma’s pharmaceutical assets acq €20m Merck KGaA/Avecia Germany/UK organic light emitting diodes & polymer electronics businesses acq €50m Messer Industrie/MEC Germany/Germany Carlyle’s cutting, fusion and surface protection technology business acq Mg Technologies/GEA Germany/Germany process engineering merger Mika Inc/Rhodia Uganda/France phosphates and sulphuric acid manufacturing business at Rieme, Belgium acq Minakem Holdings/Seac France/France Nufarm’s pharmaceutical fine chemicals business acq €30m Montefibre/Jinlin Qifeng Chemical Fiber Italy/China acryic fibres 50:50 jv MorphoSys/Biogenesis Germany/UK & US antibody research acq $5.25m Navis Capital Partners/Elementis Malaysia /UK Linatex rubber business acq $30.8m Nicholas Piramal/Avecia India/UK pharmaceutical custom synthesis business acq €14m Norbrook Laboratories/Aliachem UK/Czech Republic procaine hydrochloride and benzocaine unit acq Nordmann, Rassmann/Kemi-Intressen Germany/Sweden Eka Chemical’s distributor of speciality chemical products acq Nova Chemicals/BP Canada/UK styrenic polymers 50:50 jv Novartis/Hexal, Eon Labs Switzerland/Germany, US generic drug producers acq $7.5bn Novartis/Chiron Switzerland/US Novartis takes full control acq $5.1bn Nylstar/RadiciFibres Italy/Italy textile fibres jv Oiltanking /Star Energy Resources Germany/Middle East petroleum storage and blending services acq shareholding PAI Partners/Sydsvenska Kemi UK/Sweden speciality chemicals acq Paradigm Therapeutics/Amedis Pharmaceuticals UK/UK drug discovery company acq Paramelt/Honeywell Netherlands/US industrial wax operations in Belgium & China acq PBI Performance Products/Celanese US/Germany polybenzimidazole fibre and polymer business acq Company buying/Acquired Location Business Stake Cost Perstorp/Silver Lining Finance Sweden/Luxembourg feed additives supplier Franklin Holding acq Peter Greven Fett-Chemie/CECA Germany/France stearates business acq Qiagen/Artus Germany/Germany PCR kits for pathogenetic testing acq Quaron/Solvadis France Netherlands/France distribution firm acq Radici Group/Nylstar Italy/France-Italy Radici takes full control of Rhodia/Snia fibres jv acq Renolit/Solvay Germany/Belgium industrial film business acq €330m Rhodia/ChlorAlp France/France LaRoche’s Pont-de-Claix chlor-alkali business acq €12.5m Rhodia/Wuxi Speciality Chemicals France/China surfactants & speciality chemicals 30% to 100% Rockwood Specialties Group/Sud-Chemie US/Germany performance additives business acq Roullier/Donau Chemie France/Austria fertiliser business acq Royal Adhesives & Sealants/Elementis US/UK Hardman - epoxy and urethanes products business acq €11.2m Sabanci/DuPont Turkey/US DuSA jv in nylon industrial yarn and fabrics 50% to 100% $110m Sanitas/Hoechst-Biotika Spain/Slovakia pharmaceutical manufacturing acq €12.7m Schweizerhall/Cimex Switzerland/Switzerland generic drugs 80% €65m Shell Deutschland Oil/Choren Industries Germany/Germany biofuels minority stake Shire Pharmaceuticals Group/Transkaryotic Therapies UK/US biopharmaceuticals acq $1.6bn SICPA Group/Wacker Switzerland/Germany liquid crystal pigment business acq Sigma-Aldrich/Degussa US/Germany Proligo - genomics research tools business acq SigmaKalon/Polifarb Cieszyn Wroclaw (PCW) Netherlands/Poland coatings business 76.2% to 91.9% SigmaKalon/Triga Color Netherlands/Czech Republic decorative paints 80% Solvay Padanaplast/Shanghai Original Enterprise Development Belgium/China halogen-free flame retardant thermoplastics and?irradiation-crosslinkable compounds jv Solvay/Chemicals Products Corporation Belgium/US production and marketing of barium and strontium carbonates jv Solvay/Fournier Pharma Belgium/France pharmaceutical manufacturing acq €1.6bn Solvay/Girindus Belgium/Germany speciality chemicals acq Sosei/Arakis Japan/UK medicinal products acq €153m Speyside Equity/Degussa US/Germany fruit systems business acq SQM Nitratos/Kemira Emirates Fertilizers Company Chile/Finland Kemira’s 50% stake 50% stake Stolt-Nielsen Transportation Group/Ermefer Norway/Switzerland Ermewa’s food grade container business acq Sud-Chemie/Chinese partner (Shanghai Sud-Chemie Jinhai Catalyst Co) Germany/China catalysts production jv Sud-Chemie/Wacker-Chemie Germany/Germany diesel exhaust catalysts technology acq Sumitomo Bakelite/Perstorp Japan/Sweden Vyncolit NV and Vyncolit North America businesses acq €93m Sumitomo/BASF Japan/Germany Triforine fungicide business acq Sustec Holdings/Sekundarrohstoff-Verwertungszentrum (SVZ) Switzerland/Germany methanol production acq Synthite/BIP UK/UK plastics, chemicals manufacturing and distributor acq Taminco/Jiangsu Feixiang Chemical Belgium/China methylamines and derivatives plant in China 75:25 jv Teknos Group/Tikkurila Finland/UK coil coatings business acq Texas Pacific Group/British Vita US/UK PU foams producer acq $1.2bn Total/Raffineria de Roma France/Italy Shell’s 20% stake 20% stake Union Financiere Boel/Sofina Belgium/Belgium Solvay reduces stake from 13% to 6.5% Univar/Mapol Netherlands/Poland enzyme supplier acq Victrex/Degussa UK/Germany two oxidation plants at Seal Sands acq €24m Vopak/Dupeg Tank Terminal (Vopak Dupeg Hamburg) Netherlands/Germany Lehnkering’s stake in the terminal acq remaining 50% stake Wacker-Chemie/ProThera Germany/US biotech acq WC Heraeus/BASF Germany/Germany ceramic decorative colour business. Excluding production facilities, personnel or the brand name Sicocer acq Wintershall/Gazprom Germany/Russia gas exploration jv jv Woellner/Rhodia Germany/France silicate manufacturing site in Nogent-L’Artaud acq Yara/Burrup Holdings Norway/Australia fertiliser business 30% stake $100m